House prices dip in March

7th April 2017

Figures from Nationwide show that British house prices fell for the first time since mid-2015 in March, dipping 0.3% on the month before. This compares to a 0.6% increase in February. Year on year, prices climbed 3.5%, a rate that marks the weakest increase since August 2015. The annual pace of growth was down on February’s 4..5%, is weaker than March 2015’s 5.7% and falls below analyst forecasts of 4%. Nationwide also revealed that home ownership fell to its lowest level since 1985 in March, with just 38% of those aged between 25 and 34 owning property. For those aged 35 to 44, ownership rates have also seen declines, standing at 56% now compared to 74% in 2006. The report notes that the average cost of a house in the UK stood at £207,308 in March, up from £205,846 in February.

The Guardian (31/03/2017)