United Kingdom Housing

United Kingdom

United Kingdom: Home prices decline again in September

October 2, 2012

In September, home prices dropped a seasonally adjusted 0.4% over the previous month, according to data collected by the mortgage lender Nationwide Building Society (NBS). The negative figure contrasted the 1.1% rise observed in August and undershot market expectations, which had prices remaining unchanged. Consequently, the price of a typical house in the U.K. fell to around GBP 164,000, which was 1.4% below the value recorded in the same month last year. The reading represents a deterioration compared to the 0.7% annual decline tallied in August. Going forward, Nationwide expects "the UK economy to see a gradual recovery over the next twelve months, with house prices remaining relatively flat or declining only modestly over the same period".


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United Kingdom Housing Chart

United Kingdom Home Prices September 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).

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