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    Home » British House Price Growth Eases from 18-Year High on Rising Cost of Living
    Indices News

    British House Price Growth Eases from 18-Year High on Rising Cost of Living

    April 29, 20221 Min Read
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    UK house prices fell lower than anticipated this month after expanding in March at the fastest rate since 2004.

    • Annual price growth eased to 12.1% in April from March’s 18-year peak of 14.3%, after a 0.3% monthly jump which was the smallest since September and well below estimate by economists in a Reuter’s poll for a 0.8% jump.
    • Nationwide stated that prices were being supported by a solid job market, but it projected momentum to deteriorate this year due to stretched affordability and falling real incomes.
    • British house prices increased sharply after a prior lull at the start of the COVID-19 pandemic as many richer households sought more space to support working from home.
    • The percentage of people looking to move house was higher than the prior year, but the percentage looking to move away from cities had dropped to 12% from 25%.

    The average house price in April was 267,620 pounds, an increase from 222,915 pounds two years earlier at the beginning of the pandemic.

    FTSE 100 up +0.072%, GBP USD up +1.04%

    Source: Nationwide

     

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