In August, the average price of a typical property in the U.K. declined a seasonally adjusted 0.6% over the previous month to GBP 165,914, based on data collected by the mortgage lender Nationwide Building Society (NBS). The reading contrasted with July's increase of 0.3% and market expectations of a 0.1% rise. On an annual basis, house prices moderated for a fifth straight month and were down 0.4%, the same as in the previous month. Compared to the peak reached in October 2007, prices were down 10.8%. According to NBS, sluggish demand for homes, combined with only a gradual rise in the supply of available properties will prolong the stagnation experienced in the property market.
United Kingdom Housing
House prices fall in August
September 1, 2011
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United Kingdom Economic News
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.
September 30, 2016
In September, home prices in the United Kingdom rose 0.3% over the previous month, which was below the 0.6% increase seen in August that had marked the highest reading in five months, according to the Nationwide Building Society (NBS).