House prices are on course for double-digit growth on an annual basis next month for the first time in three years, Britain’s biggest building society said.
The forecast by Nationwide came as the lender reported a higher than expected 1.2 per cent average price increase in January, taking the rise to 8.6 per cent since the same month last year. Reports due out on Monday are expected to reinforce the view that prices have strengthened and to show that economists have revised their forecasts upwards for this year, based on signs of better mortgage lending.
Martin Gahbauer, chief economist for Nationwide, said: “Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month.”
More: http://www.timesonline.co.uk/tol/mon...cle7009085.ece
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The forecast by Nationwide came as the lender reported a higher than expected 1.2 per cent average price increase in January, taking the rise to 8.6 per cent since the same month last year. Reports due out on Monday are expected to reinforce the view that prices have strengthened and to show that economists have revised their forecasts upwards for this year, based on signs of better mortgage lending.
Martin Gahbauer, chief economist for Nationwide, said: “Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month.”
More: http://www.timesonline.co.uk/tol/mon...cle7009085.ece
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