UK December Nationwide house prices -0.1% vs -0.7% m/m expected | Forexlive

• Prior -0.7%
• House prices +2.8% vs +2.3% y/y expected
• Prior +4.4%

This marks a fourth straight month of decline in UK house prices – the worst run since 2008, with all regions reporting a slowdown in annual price growth in the final quarter for the year. Nationwide notes that:

“While financial market conditions have settled, mortgage rates are taking longer to normalise and activity in the housing market has shown few signs of recovery.

“It will be hard for the market to regain much momentum in the near term as economic headwinds strengthen, with real earnings set to fall further and the labour market widely projected to weaken as the economy shrinks.”

/GBP