House prices flat due to Brexit uncertainty

HOUSE prices have barely moved over the past year, data from Nationwide is expected to show on Friday.

According to the consensus forecast from City analysts and economists, the building society’s data will reveal that house prices were flat in November. That would leave the growth rate for the 12-month period to the end of this month at 0.2 per cent. It would also be the 12th consecutive month the annual growth rate has come in at less than 1 per cent.

In October house prices grew by 0.2 per cent, leaving the annual growth figure at 0.4 per cent.

Nationwide’s chief economist Robert Gardner is likely to attribute the slowdown in the housing market to the unreliable economic outlook caused by Brexit uncertainty and the weak global economy.