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

Eurozone Inflation Confirmed At 2.4% (56 min(s), 02 sec(s) ago)
(RTTNews) - Eurozone inflation rose to a five-month high in December, as initially estimated, fina ...Full Story»

Malaysia Economy Logs Slower Growth (01 hr(s), 48 min(s), 02 sec(s) ago)
(RTTNews) - Malaysia's economy logged a softer growth in the fourth quarter as expansions in m ...Full Story»

Slovakia HICP Inflation Eases To 3.2% (02 hr(s), 16 min(s), 02 sec(s) ago)
(RTTNews) - Slovakia's EU measure of inflation eased in December to the lowest level in three ...Full Story»

Czech Producer Price Inflation Climbs To 2.8% (02 hr(s), 45 min(s), 02 sec(s) ago)
(RTTNews) - The Czech Republic's industrial producer price inflation accelerated for the third ...Full Story»

UK Retail Sales Fall Unexpectedly (03 hr(s), 36 min(s), 02 sec(s) ago)
(RTTNews) - UK retail sales declined unexpectedly in December on falling food store sales, data fr ...Full Story»

European Economic News Preview: UK Retail Sales Data Due (04 hr(s), 22 min(s), 02 sec(s) ago)
(RTTNews) - Retail sales from the UK and final inflation from the euro area are the top economic n ...Full Story»

Singapore Non-Oil Domestic Exports Surge 9.0% (04 hr(s), 29 min(s), 02 sec(s) ago)
(RTTNews) - Singapore's non-oil domestic exports rose for the second straight month in Decembe ...Full Story»

China Economic Growth Hits Target On Stimulus (04 hr(s), 43 min(s), 02 sec(s) ago)
(RTTNews) - China's economy achieved its official growth target in 2024 as series of stimulus ...Full Story»