FOREX TradingCharts.com

Financial News: UK Nationwide House Prices Fall Most Since 2009

UK Nationwide House Prices Fall Most Since 2009

06/02/2020 - 02:23:00 (RTTNews)

(RTTNews) - The UK house prices declined at the fastest pace since 2009 as the impact of the coronavirus pandemic filtered through the property market, data from the Nationwide Building Society showed Tuesday.

House prices fell 1.7 percent month-on-month in May, in contrast to a 0.9 percent rise in April. This was the biggest fall since February 2009. Economists had forecast a fall of 1 percent.

On a yearly basis, house prices grew 1.8 percent in May, much slower than the 3.7 percent rise in April and economists' forecast of 2.8 percent increase.

Housing market activity has slowed sharply as a result of the measures implemented to control the spread of the virus, Robert Gardner, Nationwide's chief economist, said.

Mortgage activity has also declined sharply. "Nevertheless, our ability to generate the house price index has not been impacted to date, as sample sizes have remained sufficiently large (and representative) to generate robust results," Gardner added. The economist said the medium-term outlook for the housing market remains highly uncertain, where much will depend on the performance of the wider economy.

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


European Economics Preview: Germany Factory Orders Data Due (44 min(s), 26 sec(s) ago)
(RTTNews) - Factory orders from Germany and retail sales from euro area are due on Monday, headlin ...Full Story»

Hong Kong Private Sector PMI Improves To 49.6 In June - IHS Markit (59 min(s), 26 sec(s) ago)
(RTTNews) - The private sector in Hong Kong continued to contract in June, albeit at a much slower ...Full Story»

Australia Inflation Forecast On Tap For Monday (14 min(s), 26 sec(s) ago)
(RTTNews) - Australia will on Monday see June data for job ads from ANZ and for the inflation fore ...Full Story»

Spain's Service Sector Returns To Growth (58 min(s), 26 sec(s) ago)
(RTTNews) - Spain's service sector returned to growth in June following the unprecedented decl ...Full Story»

South Africa Private Sector Downturn Slows In June (36 min(s), 26 sec(s) ago)
(RTTNews) - South Africa's private sector contracted at a softer pace in June as the governmen ...Full Story»

Turkey Consumer Price, Producer Price Inflation Rises In June (30 min(s), 26 sec(s) ago)
(RTTNews) - Turkey's consumer prices and producer price inflation increased in June, figures f ...Full Story»

Italy's Service Sector Downturn Eases In June (18 min(s), 26 sec(s) ago)
(RTTNews) - Italy's service sector continued to shrink in June but the pace of downturn eased ...Full Story»

Sweden Service Sector Rises In June (17 min(s), 26 sec(s) ago)
(RTTNews) - Sweden's services sector improved in June, survey data from Swedbank and the logis ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: Germany Factory Orders Data Due

07/05/2020 - 23:30 PM (RTTNews)
(RTTNews) - Factory orders from Germany and retail sales from euro area are due on Monday, headlin ...Full Story>>

Hong Kong Private Sector PMI Improves To 49.6 In June - IHS Markit

07/05/2020 - 20:45 PM (RTTNews)
(RTTNews) - The private sector in Hong Kong continued to contract in June, albeit at a much slower ...Full Story>>

Australia Inflation Forecast On Tap For Monday

07/05/2020 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Monday see June data for job ads from ANZ and for the inflation fore ...Full Story>>

Spain's Service Sector Returns To Growth

07/03/2020 - 08:44 AM (RTTNews)
(RTTNews) - Spain's service sector returned to growth in June following the unprecedented decl ...Full Story>>

South Africa Private Sector Downturn Slows In June

07/03/2020 - 08:22 AM (RTTNews)
(RTTNews) - South Africa's private sector contracted at a softer pace in June as the governmen ...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.