UK House Prices Rise For Third Month: Nationwide

RTTNews | Před 87 dny
UK House Prices Rise For Third Month: Nationwide

(RTTNews) - UK house prices increased for the third straight month in July, suggesting stabilization in the housing market, data from Nationwide Building Society showed on Thursday.

House prices posted a monthly growth of 0.3 percent after rising 0.2 percent in June. This was the third consecutive increase and faster than forecast of 0.1 percent.

On a yearly basis, house price growth accelerated more-than-expected to 2.1 percent from 1.5 percent in June. The latest pace of growth was the fastest since December 2022. Economists had expected prices to climb 1.8 percent.

Nationwide's Chief Economist Robert Gardner said the affordability is still stretched for many prospective buyers.

"Investors expect Bank Rate to be lowered modestly in the years ahead, which, if correct, will help to bring down borrowing costs," Gardner said.

"However, the impact is likely to be fairly modest as the swap rates which underpin fixed-rate mortgage pricing already embody expectations that interest rates will decline in the years ahead, added Gardner.

The Bank of England is likely to lower its interest rate from a 16-year high today but it will be a very close call.

The Monetary Policy Committee is expected to trim the bank rate by 25 basis points to 5.00 percent. This would be the first reduction since the onset of the pandemic.

Značky : GBP
read more
UK Pay Growth Stalled In September, Likely To Slow Next Year: Survey

UK Pay Growth Stalled In September, Likely To Slow Next Year: Survey

Growth in the employee earnings in the U.K. stalled in the September quarter and the rate of increase is expected to fall next year as employers weigh the cost, the performance of their companies and possibly lower inflationary pressures. Median pay award forecast for the next 12 months was 3 percent.
RTTNews | Před 4 dny
UK Budget Deficit Widens More Than Estimated

UK Budget Deficit Widens More Than Estimated

The UK budget deficit widened more than officially estimated in September and also hit the highest level for the month since 2021, the Office for National Statistics reported Tuesday. Public sector net borrowing increased to GBP 16.6 billion in September from GBP 14.5 billion in the previous year. This was the third highest September borrowing since monthly records began in January 1993.
RTTNews | Před 5 dny
UK House Price Growth Weakens: Rightmove

UK House Price Growth Weakens: Rightmove

UK house prices increased at a below seasonal average pace in October due to the rise in buyer choice and increasing seller competition, property website Rightmove said Monday. House prices grew 0.3 percent month-on-month in October, which was much lower than the average seasonal 1.3 percent increase at this time of year. Prices had increased 0.8 percent in September.
RTTNews | Před 6 dny
UK Retail Sales Rise Unexpectedly

UK Retail Sales Rise Unexpectedly

UK retail sales logged an unexpected growth in September on higher sales of technology products, the Office for National Statistics said Friday. Retail sales grew 0.3 percent on month in September, confounding expectations for a 0.3 percent fall. This marked the third consecutive increase. Sales had increased 1.0 percent in August and 0.8 percent in July.
RTTNews | Před 9 dny
UK Inflation Falls Below 2% Target

UK Inflation Falls Below 2% Target

UK inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting. Consumer price inflation weakened more-than-expected to 1.7 percent in September from 2.2 percent in August, the Office for National Statistics reported Wednesday.
RTTNews | Před 11 dny
UK Wage Growth Weakest In More Than 2 Years

UK Wage Growth Weakest In More Than 2 Years

UK wage growth softened to the lowest in more than two years in the three months to August, adding support to expectations that the central bank will cut interest rates further at the next meeting. In the three months to August, average earnings excluding bonus increased 4.9 percent from the previous year, slower than the 5.1 percent increase in the three months to July, data from the Office f
RTTNews | Před 12 dny
UK Economy Returns To Growth

UK Economy Returns To Growth

The UK economy returned to growth in August but the pace of expansion was weaker than in the first half of the year, official data revealed Friday. The real economy grew 0.2 percent in August after showing nil growth in July and June, the Office for National Statistics said. The rate came in line with expectations.
RTTNews | Před 16 dny
UK House Prices Rise For First Time In 2 Years: RICS

UK House Prices Rise For First Time In 2 Years: RICS

UK house prices increased for the first time in two years in September as expectations about future interest rate cuts lifted housing market activity, survey data published by Royal Institution of Chartered Surveyors, or RICS, showed Thursday. The house price balance rose to 16 percent in September from a flat result in August. The balance turned positive for the first time since October 2022.
RTTNews | Před 17 dny