United Kingdom Housing January 2020

United Kingdom

United Kingdom: Housing market strengthens in January

January 29, 2020

According to the Nationwide Building Society (NBS), house prices in the United Kingdom rose 0.5% month-on-month in January, up from December’s 0.1% increase. On an annual basis, house prices rose 1.9%, up from 1.4% in December and marking the strongest annual growth rate in over one year. The average house price in January was GBP 215,897 (January 2019: GBP 215,282). The property market likely benefited from low unemployment and solid wage growth.

Looking ahead, house prices will likely rise at a mild rate, supported by the strong labor market. Brexit developments will have an important bearing on prices, due to the potential impact on consumer confidence and jobs.

Author:, Economist

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United Kingdom Housing Chart

United Kingdom Housing January 20 20

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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