Following yesterday’s mortgage lending and approvals, markets have just seen the latest Nationwide housing prices year-on-year and month-on-month. The last YoY data revealed the house price index increased by 2.8% in December, less than 4.4% in November, marking the fourth consecutive fall. This morning’s release followed suit as it pointed to the fifth consecutive fall in house prices.
The Nationwide house price index in the UK increased by a much smaller 1.1% YoY in January, well below market forecasts of 1.9%. Compared to the previous month, house prices fell 0.6%, after a 0.3% drop in December.
