Annual house price growth in the UK softened to 3.5% in
March with prices falling 0.3% month-on-month, according to the latest
Nationwide House Price Index. The reversal in momentum has been described as a
“wake up call” by Jonathan Hopper, managing director of Garrington Property
Finders. “It’s nearly two years since the month-on-month number was last in
negative territory. But now, as then, the surprise fall in house prices was
symptomatic of a listless market rather than a profound shift,” he said. “So it
would be overly melodramatic to view the Nationwide’s latest data as a turning
point. In reality, average house prices have been meandering for several months
against the volatile and uncertain economic backdrop. Read more on Housing
Excellence.
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