Latest data released by the UK Nationwide Building Society - 4 January 2019
- Prior +0.3%; revised to +0.4%
- House price index +0.5% vs +1.5% y/y expected
- Prior +1.9%
A notable drop in the price of dwellings in the UK based on this gauge. The +0.5% y/y growth in house prices is the weakest pace of growth since February 2013. Note that the release here is taken into account seasonal factors already.
Nationwide attributes to uncertain economic outlook as being a drag on home buyer sentiment. And given the way Brexit is going, that is likely to continue as we begin the year as well.
