Latest data released by UK Nationwide Building Society - 1 May 2020

  • Prior +0.8%
  • House prices +3.7% vs +2.5% y/y expected
  • Prior +3.0%

Data was scheduled for the top of the hour but has been released about 30 seconds earlier.

Just take note that Nationwide highlights that the impact of the virus pandemic is not captured in the latest report here, as the index is constructed using mortgage approval data - which has a lag between applications being submitted and approved.

As such, the jump in annual change to house prices to its strongest since February 2017 needs to be viewed in that light, as it isn't really reflective of actual conditions on the ground.