United Kingdom: Home prices unchanged in March
March 28, 2013
In March, the price of a typical home in the U.K. was unchanged over the previous month in seasonally adjusted terms, according to data published by the Nationwide Building Society (NBS). The reading came in below the 0.2% increase observed in February as well as the 0.2% rise expected by the market.
Nationwide mentioned that "the outlook for the housing market is unusually uncertain at present, in part because the prospects for the wider economy are unclear, but also as the impact of a number of policy initiatives [such as the Funding for Lending Scheme] is hard to gauge".
Compared to the same month last year, home prices rose 0.8%, which came in above the flat growth rate tallied in February. The figure represents, in fact, the fastest annual increase since February 2012.