Decline in UK House Prices Has Further to Run, Says Pantheon
01 Dezember 2022 - 10:23AM
Dow Jones News
Decline in UK House Prices Has Further to Run
0849 GMT - House prices in the U.K. are starting to buckle due
to very high mortgage rates and squeezed household incomes,
Pantheon Macroeconomics senior U.K. economist Gabriella Dickens
says in a note after Nationwide's November data. The mortgage
lender said house prices fell for the second month in a row, and
November's fall is likely just the start of a longer-term trend
given the slow decline in mortgage rates since their peak in
October, she says. However, the fall in house prices will likely be
limited by scarce supply, Dickens says. Pantheon expects house
prices to fall around 8%, reversing one-third of the increase since
the start of the Covid-19 pandemic.
(xavier.fontdegloria@wsj.com)
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Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
December 01, 2022 04:08 ET (09:08 GMT)
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