london skyline

United Kingdom Housing May 2019

United Kingdom: Housing market continues to look fragile in May

According to the Nationwide Building Society (NBS), house prices in the United Kingdom fell 0.2% in May compared to the previous month in seasonally adjusted terms, contrasting April’s revised 0.3% increase (previously reported: +0.4% mom). On an annual basis, house prices rose 0.6% in May, down from April’s 0.9% increase. The average house price in May was GBP 214,946 (May 2018: GBP 213,618). Ongoing weakness in the housing market is likely linked to limp consumer confidence and intense Brexit uncertainty causing households to delay home purchases.

Going forward, house prices are likely to continue to rise slightly in annual terms, supported by a strong labor market, still-low borrowing costs and the government’s Help To Buy scheme. However, Brexit uncertainty will likely continue to dampen market activity.

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