British house price growth continues to slow

British house price growth eased to a three-month low in August, adding to signs that the squeeze on household spending since last year’s Brexit vote has led to a slowdown in the housing market, a survey showed on Tuesday.

Mortgage lender Nationwide said house prices rose 2.1 per cent year-on-year in August, slowing from 2.9 per cent in July and matching May’s four-year low. A Reuters poll of economists had pointed to annual growth of 2.5 per cent. House prices slipped 0.1 per cent in August compared with the previous month, after rising 0.2 per cent in July.

Reuters