United Kingdom Housing

United Kingdom

Recovery in home prices stalls in June

In June, home prices dropped 0.6% over the previous month, according to data collected by the mortgage lender Nationwide Building Society (NBS). The figure contrasted the 0.2% rise recorded in May (previously reported: +0.3% month-on-month) and market expectations that had home prices rising 0.1%. As a result, the price of a typical U.K. property dropped to around GBP 165,700, which was 1.5% below the level observed in the same month last year, representing a deterioration over the 0.7% contraction seen in May. The decline comes amid an adverse economic environment, with the economy contracting for three consecutive quarters. Furthermore, according to Nationwide, the subdued reading may also relate to the ending of the stamp duty holiday in March, which provided a temporary boost in early 2012, as buyers brought forward purchases that would otherwise have taken place later in the year.


Sample Report

Looking for forecasts related to Housing in United Kingdom? Download a sample report now.


United Kingdom Housing Chart

United Kingdom Home Prices June 2012

Note: Average price of a typical property in the U.K. and seasonally adjusted month-on-month variation in %.
Source: Nationwide Building Society (NBS).

United Kingdom Economic News

More news

Search form