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Financial News: UK House Price Growth Fastest Since 2017: Nationwide

UK House Price Growth Fastest Since 2017: Nationwide

05/01/2020 - 02:22:00 (RTTNews)

(RTTNews) - UK house prices increased at the fastest pace since 2017 in April before the pandemic struck the economy, data published by the Nationwide Building Society showed Friday.

House prices increased 3.7 percent on a yearly basis in April, faster than the 3 percent rise in March. The annual growth was forecast to ease to 2.5 percent. The latest increase was the strongest since February 2017.

Month-on-month, house prices grew 0.7 percent after climbing 0.8 percent in the previous month.

Robert Gardner, Nationwide's chief economist, said housing market activity is now grinding to a halt as a result of the measures implemented to control the spread of the virus, and where the government has recommended not entering into housing transactions during this period

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