British mortgage lender Nationwide recorded the first monthly fall in house prices for more than a year this month, causing the annual rate of house price growth to fall to an eight-month low.
Nationwide said that average house prices across Britain fell by 0.2 percent in September – the first drop in 17 months – after rising by 0.8 percent in August.
House prices are now 9.4 percent higher than a year earlier, the smallest increase since February and down from August’s 11.0 percent growth rate.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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