LONDON: British house prices grew more strongly than expected in January but there is little sign of a sustained pick-up as households continue to feel the pinch from the Brexit hit to their finances, mortgage lender Nationwide said on Thursday.
Prices rose by an annual 3.2 per cent, up from 2.6 per cent in December and stronger than a median forecast of 2.5 per cent in a Reuters poll of economists.
The increase was the biggest since March 2017 although it remained below growth of about 5 per cent in Nationwide’s index at the time of the June 2016 referendum decision to leave the European Union. — Reuters
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