This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-30630655
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| House price growth lowest for a year, says Nationwide | House price growth lowest for a year, says Nationwide |
| (about 1 hour later) | |
| The annual pace of house price growth is now at its slowest for a year, according to the UK's second biggest mortgage lender. | The annual pace of house price growth is now at its slowest for a year, according to the UK's second biggest mortgage lender. |
| Nationwide said house price inflation fell to 7.2% in December on an annual basis, down from 8.5% in November. | Nationwide said house price inflation fell to 7.2% in December on an annual basis, down from 8.5% in November. |
| However, activity in the housing market is likely to pick up in the months ahead, Nationwide said. | However, activity in the housing market is likely to pick up in the months ahead, Nationwide said. |
| Monthly house prices rose by 0.2% in December, taking the average house price up to £188,559. | Monthly house prices rose by 0.2% in December, taking the average house price up to £188,559. |
| "The pace of annual house price growth continued to soften as 2014 drew to a close," said Nationwide's chief economist, Robert Gardner. | "The pace of annual house price growth continued to soften as 2014 drew to a close," said Nationwide's chief economist, Robert Gardner. |
| Mr Gardner said the slowdown in the housing market was "surprising given further steady gains in employment, a pickup in wage growth (albeit from low levels) and the continued low level of mortgage rates" in the UK. | Mr Gardner said the slowdown in the housing market was "surprising given further steady gains in employment, a pickup in wage growth (albeit from low levels) and the continued low level of mortgage rates" in the UK. |
| "If the economic backdrop continues to improve as we and most forecasters expect, activity in the housing market is likely to regain momentum in the months ahead," he added. | "If the economic backdrop continues to improve as we and most forecasters expect, activity in the housing market is likely to regain momentum in the months ahead," he added. |
| A pick-up in the housing market a year ago was also a factor in the slowing annual increase in prices. That is part of the reason for the annual price rise for 2013 being faster than 2014. | A pick-up in the housing market a year ago was also a factor in the slowing annual increase in prices. That is part of the reason for the annual price rise for 2013 being faster than 2014. |
| The national average masks a big regional difference in annual house price changes, according to analysis by the Nationwide of its own mortgage data. | The national average masks a big regional difference in annual house price changes, according to analysis by the Nationwide of its own mortgage data. |
| As has been the case throughout 2014, London prices grew at a much faster rate in the final quarter of the year than in the rest of the UK. | As has been the case throughout 2014, London prices grew at a much faster rate in the final quarter of the year than in the rest of the UK. |
| There was a 17.8% increase in the final three months of the year compared with the fourth quarter of 2013. This took the average price in the city to £406,730, some 35% above their previous peak in 2007. | |
| All regions saw the annual rate of increase slow, but they all recorded price increases for the year as a whole. | All regions saw the annual rate of increase slow, but they all recorded price increases for the year as a whole. |
| Prices rose slowest in Wales, which showed a 1.4% rise over the same period. The average home in Wales was valued at £141,631. | Prices rose slowest in Wales, which showed a 1.4% rise over the same period. The average home in Wales was valued at £141,631. |
| House price figures from the Land Registry were also published on Tuesday, although the the data lags behind the Nationwide figures. | |
| Figures for the year to November in England and Wales suggested the fastest regional growth year-on-year was in London and the slowest was in Wales. | |
| Its figures showed that semi-detached homes and flats saw the fastest rise in prices over the same period, up 7.9%. | |
| Terraced homes recorded the slowest rise, up 6.3%. | |
| Overall, the Land Registry said that prices fell by 0.1% from October to November. The annual change was an increase of 7.1% and the average price of a property in England and Wales was £176,581. |