Rolling coverage of the latest economic and financial news, as Nationwide reports that UK house prices are now stagnating
- Introduction: House price growth has fizzled out
- Prices up just 0.1% over the last year
Economist Howard Archer of EY Item Club warns that the housing market will be driven by the Brexit saga this year:
Mark Harris, chief executive of mortgage broker SPF Private Clients, also blames economic anxiety for the house pries slowdown.
‘Uncertainty seems to be the main issue plaguing the housing market, with potential buyers and sellers sitting on their hands and waiting to see what happens with Brexit.