31 Jan House prices have ground to a halt – time to improve
The annual rise in house prices “almost ground to a complete halt” in January, according to the latest survey from the Nationwide.
Prices grew by just 0.1% from a year earlier, the building society said, down from an annual rate of 0.5% in December.
The Nationwide said prices edged up 0.3% in January compared with the month before, with the average property priced at £211,966.
“It is likely that the recent slowdown is attributable to the impact of the uncertain economic outlook on buyer sentiment, given that it has occurred against a backdrop of solid employment growth, stronger wage growth and continued low borrowing costs,” said Robert Gardner, Nationwide’s chief economist.