FOREX TradingCharts.com

Financial News: UK Nationwide House Prices Recover In May

UK Nationwide House Prices Recover In May

05/31/2024 - 04:09:00 (RTTNews)

(RTTNews) - UK house prices increased in May after two consecutive falls as the housing market showed signs of resilience amid ongoing affordability pressures, the Nationwide Building Society said on Friday.

House prices gained 0.4 percent month-on-month in May, offsetting April's 0.4 percent decrease. House prices were forecast to climb 0.1 percent.

As a result, the annual increase in house prices more than doubled to 1.3 percent from 0.6 percent in April.

The market appears to be showing signs of resilience in the face of ongoing affordability pressures following the rise in longer term interest rates in recent months, Nationwide's Chief Economist Robert Gardner said.

Gardner noted that stronger wage gains and lower inflation has lifted consumer confidence over the past few months.

Regarding the impact of general election on the housing market, Gardner said for most homebuyers, elections are not foremost in their minds while buying or selling property.

The Bank of England is set to publish mortgage approvals data for April later on Friday. Economists forecast approvals to rise to 61,500 from 61,300 in March.

In May, the<a href=https://www.rttnews.com/3446740/bank-of-england-moves-closer-to-rate-cut.aspx target=_blank > BoE</a> had kept its interest rate unchanged for the sixth straight meeting at 5.25 percent, which was the highest since early 2008. The bank also signaled that the first rate cut since 2020 is on the horizon.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


German Private Sector Expands Modestly In June (10 hr(s), 48 min(s), 12 sec(s) ago)
(RTTNews) - Germany's private sector expanded for the third straight month in June, though the ...Full Story»

U.S. Leading Economic Index Falls More Than Expected In May (11 hr(s), 28 min(s), 12 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Friday showed its reading on leading U.S. ...Full Story»

U.S. Existing Home Sales Decrease Roughly In Line With Estimates In May (11 hr(s), 31 min(s), 12 sec(s) ago)
(RTTNews) - The National Association of Realtors released a report on Friday showing existing home ...Full Story»

UK Private Sector Grows At Slowest Pace In 7 Months (12 hr(s), 38 min(s), 12 sec(s) ago)
(RTTNews) - The UK private sector growth weakened to a seven-month low in June as the slowdown in ...Full Story»

UK Public Debt Highest Since 1960s; Budget Deficit Remains Below Estimate (13 hr(s), 19 min(s), 12 sec(s) ago)
(RTTNews) - The UK public sector net debt rose to its highest level since early 1960s, while publi ...Full Story»

German Private Sector Expands Modestly In June (14 hr(s), 13 min(s), 12 sec(s) ago)
(RTTNews) - Germany's private sector expanded for the third straight month in June, though the ...Full Story»

German Residential Property Prices Fall For 6th Quarter (14 hr(s), 29 min(s), 12 sec(s) ago)
(RTTNews) - House prices in Germany declined for a sixth consecutive quarter in the first three mo ...Full Story»

Ireland Wholesale Price Inflation Eases To 0.9% (14 hr(s), 54 min(s), 12 sec(s) ago)
(RTTNews) - Ireland's wholesale price inflation moderated in May to the lowest level in seven ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

German Private Sector Expands Modestly In June

06/21/2024 - 11:27 AM (RTTNews)
(RTTNews) - Germany's private sector expanded for the third straight month in June, though the ...Full Story>>

U.S. Leading Economic Index Falls More Than Expected In May

06/21/2024 - 10:47 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Friday showed its reading on leading U.S. ...Full Story>>

U.S. Existing Home Sales Decrease Roughly In Line With Estimates In May

06/21/2024 - 10:44 AM (RTTNews)
(RTTNews) - The National Association of Realtors released a report on Friday showing existing home ...Full Story>>

UK Private Sector Grows At Slowest Pace In 7 Months

06/21/2024 - 09:37 AM (RTTNews)
(RTTNews) - The UK private sector growth weakened to a seven-month low in June as the slowdown in ...Full Story>>

UK Public Debt Highest Since 1960s; Budget Deficit Remains Below Estimate

06/21/2024 - 08:56 AM (RTTNews)
(RTTNews) - The UK public sector net debt rose to its highest level since early 1960s, while publi ...Full Story>>

Do not sell my personal information

Copyright © 2024. 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.