london skyline

United Kingdom Housing March 2021

United Kingdom: House price growth slows in March

According to the Nationwide Building Society, house prices in the United Kingdom fell 0.2% month-on-month in March, contrasting February’s 0.7% rise. On an annual basis, house prices were up 5.7%, below February’s 6.9% rise. March’s slowdown likely reflected weaker demand ahead of the original expiration of the stamp duty holiday at the end of the month.

Looking ahead, the housing market should remain robust in the near term, supported by the extension of the stamp duty holiday beyond March, and a new mortgage guarantee scheme to provide mortgages with minimal down payments.

That said, Robert Gardner, chief economist at Nationwide, cautioned:

“If the labour market weakens towards the end of the year as policy support is withdrawn, as most analysts expect, then activity is likely to slow nearer the end of 2021, perhaps sharply.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest