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Financial News: UK House Price Inflation Accelerates In April: Nationwide

UK House Price Inflation Accelerates In April: Nationwide

04/27/2018 - 03:25:00 (RTTNews)

(RTTNews) - British house price inflation accelerated at a slower-than-expected pace in April, data from Nationwide Building Society showed Friday.

House prices grew 2.6 percent year-over-year in April, faster than the 2.1 percent rise in March. That was just below the 2.7 percent increase economists had forecast.

On a monthly basis, house prices climbed 0.2 percent from March, when it dropped by 0.2 percent. The figure also matched consensus estimate.

"Looking ahead, much will depend on how broader economic conditions evolve, especially in the labor market, but also with respect to interest rates," Robert Gardner, Nationwide's chief economist, said.

"Subdued economic activity and the ongoing squeeze on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year."

"We continue to expect house prices to rise by around 1 percent over the course of 2018."

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