Slowing house price growth is sign of a cooling economy, warns Nationwide
Another sign of moderating house price growth in the UK. The Office for National Statistics. prices from lender Halifax also disappointed those expecting a rise, while Nationwide has also reveals.
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Nationwide, Britain’s biggest building society, has reported an 18% fall in annual profits and warned of a squeeze on consumers and slowing house price growth as the economy stutters.
However, house prices. low. Nationwide said ‘subdued consumer confidence’ and wage growth failing to keep up with the rise in the cost of living had offset strong employment rates and cheap.
Latest index shows pace of annual house price growth slowing for third consecutive month. House price growth is continuing to slow, according to the latest Nationwide house price index. The building society says UK house prices rose by just 0.3% in November, meaning the annual rate of growth slowed to 8.5%, from 9% in October.
As US GDP growth rises at 3% or more for the second quarter in a row, French investment bank Natixis urges investors toprepare for the U.S. economy to "slow down substantially" as early as 2018. Patrick Artus, chief economist at Natixis, warned that the current level of corporate investment.
On a monthly basis house prices rose [.] UK house price growth remained relatively stable throughout 2016, but is set to slow to around 2% this year, according to Nationwide. Its latest House Price Index showed that annual house price growth was 4.5% in December, the same as the rate recorded at the end of 2015. On a monthly basis house prices rose 0.8% to 205,898, up from 204,947 in November.
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Developments in UK regional house prices. One view is that the slowdown in London house prices is a sign of likely future developments in the rest of the UK. Such a view stresses signs of cooling in the housing market. For example, mortgage approvals fell to 66,232 in September (a three-month low).
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The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops.