House prices still higher than a year ago but market starting to cool, says Nationwide

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 67%

Business News News

Business Business Latest News,Business Business Headlines

Earlier this week, the Bank of England said that mortgage borrowing fell by 36% in April in another signal that the red-hot housing market is starting to lose momentum in the face of rising inflation and a cost of living crisis.

House prices are still much higher than this time last year, according to Nationwide Building Society, but the pace of growth has slowed for the third month in a row.

"Household finances are likely to remain under pressure with inflation set to reach double digits in the coming quarters if global energy prices remain high," said Robert Gardner, Nationwide chief economist.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK house price slowdown ‘on way’; business confidence hit by inflation and Brexit – business liveRolling coverage of the latest economic and financial news Reminder: 'Slow down' is property prices continuing to go up, but at a slower rate than before. eu did say they will make sure we fail post brexit, they are true to their word No . Brexit is an excuse to divert attention from the government’s absolute F ups. It’s all been caused by looney covid lockdowns crashing the economy and then the obscene amounts of money printing during that time.
Source: The Guardian - 🏆 84. / 53 Read more »