UK July Nationwide house prices +0.1% vs +0.3% m/m expected

  • Prior +0.3%; revised to +0.2%
  • House prices +11.0% vs +11.5% y/y expected
  • Prior +10.7%

A modest increase in UK house prices for July, which represents a twelth consecutive monthly increase. Meanwhile, annual house price growth stays elevated and is seen in the double-digits for a ninth month in a row. Nationwide notes that:

“Demand continues to be supported by strong labour market conditions, where the unemployment rate remains near 50-year lows and with the number of job vacancies close to record highs. At the same time, the limited stock of homes on the market has helped keep upward pressure on house prices.

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