Stable price growth for UK
SURVEY: UK annual house price growth ended 2016 at 4.5 per cent, the same as 2015, says Nationwide.
London ended the year below the UK average for first time in eight years. Nationwide’s Chief Economist, Robert Gardner, says: “The story of UK house price growth in 2016 was one of relative stability. There were signs that London’s significant period of outperformance may be drawing to a close.
“For the first year since 2008, annual house price growth in the capital was lower than the UK average, with prices increasing by 3.7 per cent down from 12.2 per cent in 2015. Prospects will depend on the wider economy.”