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U.K. house prices rise at slowest rate in a year

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Staff writer ▼ | January 3, 2015
U.K. house prices grew at the slowest pace in one year in December, but housing market activity is expected to gain momentum in the coming months given the improved economic backdrop, survey from the Nationwide Building Society showed.
U.K. house
Data   The Nationwide Building Society:
The annual house price inflation eased to 7.2 percent in December from 8.5 percent in the previous month. This matched economists' expectations. House price inflation accelerated for a fourth straight month.

The latest annual increase was the slowest since November 2013, when house prices rose 6.5 percent.

The house price index rose a seasonally adjusted 0.2 percent month-over-month in December, slower than November's 0.3 percent increase. This was in line with the consensus estimate and marked the third consecutive month of increase. Quarter-on-quarter, house prices rose 1 percent in the three months to December, slightly faster than the 0.9 percent climb in the three months to November.

For the full year 2014, house prices grew at a slower rate of 7.2 percent in 2014 compared with the 8.4 percent climb in 2013.

Though price growth in London eased, the capital recorded the fastest rise in prices among the regions, rising 17.8 percent in the fourth quarter. Twelve out of the thirteen regions in the U.K. logged slower annual rise in house prices.