House price growth at near six-year low
UK house prices grew at the slowest annual rate for nearly six years in January, according to the Nationwide.The lender said price growth "almost ground to a complete halt", with prices up by just 0.1% from a year earlier, down from a rate of 0.5% in December.The average property price was £211,966, the building society said.The Nationwide said it was likely that the recent slowdown in the market was due to "the impact of the uncertain economic outlook on buyer sentiment".It said this uncertainty among buyers was outweighing the otherwise positive backdrop of "solid employment growth, stronger wage growth and continued low borrowing costs". The last time the Nationwide's annual price growth measure was weaker was in February 2013, when it registered zero growth.The Nationwide survey,...
