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Financial News: UK Nationwide House Prices Increase In July

UK Nationwide House Prices Increase In July

07/31/2019 - 02:37:00 (RTTNews)

(RTTNews) - UK house prices increased for the second straight month in July, data from the Nationwide Building Society showed Wednesday.

House prices grew 0.3 percent month-on-month, faster than the 0.1 percent rise in June and the expected 0.2 percent increase.

Nonetheless, the annual growth in house prices eased to 0.3 percent in July from 0.5 percent in June.

"Housing market trends will remain heavily dependent on developments in the broader economy," Robert Gardner, Nationwide's chief economist, said.

In the near term, healthy labor market conditions and low borrowing costs will provide underlying support, though uncertainty is likely to continue to exert a drag on sentiment and activity, Gardner added.

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