Financial News: UK House Price Growth Accelerates In December

UK House Price Growth Accelerates In December

01/02/2025 - 02:34:00 (RTTNews)

(RTTNews) - UK house prices increased at a faster pace in December, data from the Nationwide Building Society showed Thursday.

House prices grew 4.7 percent year-on-year in December, faster than the 3.7 percent increase in November and also stronger than economists' forecast of 3.8 percent gain.

At the same time, on a monthly basis, house price inflation softened to 0.7 percent from 1.2 percent in November. Prices were expected to climb only 0.1 percent.

". it was encouraging that activity levels in the housing market increased over the course of 2024 with the number of mortgages approved for house purchase each month rising above pre-pandemic levels towards the end of the year," Nationwide's Chief Economist Robert Gardner said.

Gardner said the underlying pace of housing market activity is likely to continue to strengthen gradually as affordability constraints ease through a combination of modestly lower interest rates and earnings outpacing house price growth.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Manufacturing Index Indicates Modestly Slower Contraction In December (06 hr(s), 17 min(s), 33 sec(s) ago)
(RTTNews) - Manufacturing activity in the U.S. contracted at a slower rate in the month of Decembe ...Full Story»

Mexico Jobless Rate Rises To 2.6% In November (08 hr(s), 56 min(s), 33 sec(s) ago)
(RTTNews) - Mexico's unemployment rate increased slightly in November after falling in the pre ...Full Story»

German Unemployment Increases Less Than Forecast (09 hr(s), 31 min(s), 33 sec(s) ago)
(RTTNews) - Unemployment in Germany increased in December albeit at a slower-than-expected pace wi ...Full Story»

Cyprus Industrial Turnover Rises 1.0% (09 hr(s), 48 min(s), 33 sec(s) ago)
(RTTNews) - Industrial turnover in Cyprus expanded for the fourth successive month in October, fig ...Full Story»

UK Mortgage Approvals Fall Unexpectedly, Consumer Credit Growth Weakest Since 2022 (10 hr(s), 29 min(s), 33 sec(s) ago)
(RTTNews) - UK mortgage approvals declined unexpectedly to a three-month low in November and consu ...Full Story»

Latvian Industrial Output Contracts 3.0% (10 hr(s), 35 min(s), 33 sec(s) ago)
(RTTNews) - Latvia's industrial production declined for the third straight month in November, ...Full Story»

Iceland Jobless Rate Falls To 2.8% (11 hr(s), 41 min(s), 33 sec(s) ago)
(RTTNews) - Iceland's jobless rate declined for the second straight month in November, figures ...Full Story»

Poland Consumer Price Inflation Accelerates To 4.8% (11 hr(s), 48 min(s), 33 sec(s) ago)
(RTTNews) - Consumer price inflation in Poland climbed in December after slowing in the previous m ...Full Story»