FOREX TradingCharts.com

Financial News: UK House Price Inflation At 5-year High -

UK House Price Inflation At 5-year High - Nationwide

10/30/2020 - 03:38:00 (RTTNews)

(RTTNews) - UK house prices rose for a fourth straight month and the annual rate of increase hit a five-year high in October, survey data from the Nationwide Building Society showed on Friday.

The seasonally adjusted house price inflation accelerated to 5.8 percent, the highest rate since January 2015, from 5.0 percent in September. Economists had expected 5.2 percent increase.

On a month-on-month basis, the house price index climbed a seasonally adjusted 0.8 percent after a 0.9 percent rise in the previous month. Economists had forecast a 0.4 percent gain.

The unadjusted average price of a UK home grew to GBP 227,826 from GBP 226,129 in the previous month.

Housing market activity has remained robust despite a loss of momentum in the economic recovery and a weakening in labor market conditions in recent months, Nationwide Chief Economist Robert Gardner said.

"The outlook remains highly uncertain and will depend heavily on how the pandemic and the measures to contain it evolve as well as the efficacy of policy measures implemented to limit the damage to the wider economy," Gardner said.

"Behavioral shifts as a result of Covid-19 may provide support for housing market activity, while the stamp duty holiday will continue to provide a near term boost by bringing purchases forward."

Nationwide expects activity to slow in the coming quarters, perhaps sharply, if the labor market weakens as widely expected, especially once the stamp duty holiday expires at the end of March.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


India GDP Contraction Slows, Economy Enters Recession (03 hr(s), 59 min(s), 24 sec(s) ago)
(RTTNews) - India's economic contraction slowed sharply in the September quarter, but the econ ...Full Story»

Finland Q3 Growth Revised Up (04 hr(s), 56 min(s), 24 sec(s) ago)
(RTTNews) - Finland's economy exited recession in the third quarter and expanded at a faster t ...Full Story»

India Enters Recession In Sep Qtr (07 hr(s), 11 min(s), 24 sec(s) ago)
(RTTNews) - India's economy entered a recession in the September quarter though the pace of co ...Full Story»

Taiwan Raises 2020 Growth Forecast (07 hr(s), 35 min(s), 24 sec(s) ago)
(RTTNews) - Taiwan upgraded its growth outlook for this year as higher overseas demand for technol ...Full Story»

Italy Producer Prices, Consumer Confidence Falls (07 hr(s), 43 min(s), 24 sec(s) ago)
(RTTNews) - Italy's consumer confidence weakened in November and producer prices continued to ...Full Story»

Spain Retail Sales Fall Further In October (07 hr(s), 42 min(s), 24 sec(s) ago)
(RTTNews) - Spain retail sales declined further in October, albeit at a softer pace, data released ...Full Story»

Iceland Inflation Slows In November (07 hr(s), 47 min(s), 24 sec(s) ago)
(RTTNews) - Iceland's consumer price inflation eased in November after rising in the previous ...Full Story»

France Consumer Prices Rise In November (07 hr(s), 51 min(s), 24 sec(s) ago)
(RTTNews) - French consumer prices rose in November, flash data from the statistical office Insee ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

India GDP Contraction Slows, Economy Enters Recession

11/27/2020 - 11:08 AM (RTTNews)
(RTTNews) - India's economic contraction slowed sharply in the September quarter, but the econ ...Full Story>>

Finland Q3 Growth Revised Up

11/27/2020 - 10:11 AM (RTTNews)
(RTTNews) - Finland's economy exited recession in the third quarter and expanded at a faster t ...Full Story>>

India Enters Recession In Sep Qtr

11/27/2020 - 07:56 AM (RTTNews)
(RTTNews) - India's economy entered a recession in the September quarter though the pace of co ...Full Story>>

Taiwan Raises 2020 Growth Forecast

11/27/2020 - 07:32 AM (RTTNews)
(RTTNews) - Taiwan upgraded its growth outlook for this year as higher overseas demand for technol ...Full Story>>

Spain Retail Sales Fall Further In October

11/27/2020 - 07:25 AM (RTTNews)
(RTTNews) - Spain retail sales declined further in October, albeit at a softer pace, data released ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.