UK house prices rise at slowest pace in nearly 6 years: Nationwide

[LONDON] British house prices rose at their slowest annual pace in nearly six years in December and fell unexpectedly in monthly terms, mortgage lender Nationwide said, in the latest sign of a housing market slowdown since the Brexit vote in 2016.

Annual house price growth slowed to 0.5 per cent, Nationwide said on Friday, compared with a rise of 1.9 per cent in November and weaker than a median forecast of 1.5 per cent in a Reuters poll of economists.

In monthly terms, prices fell by 0.7 percent, against a poll forecast of 0.1 per cent.

REUTERS