UK DATA: Nationwide: Sep 3 Month House Price Trend Turns Negative
–Nationwide: UK Sep House Prices 0.1% m/m; +3.1% y/y
–Nationwide: Three Month Trend Turns Negative – First Time Since May09
————————————————————————
UK house prices were broadly flat through September, but the three
month rate of change turned negative for the first time since May
2009, according to the Nationwide house price survey. The Nationwide
survey showed September house prices up 0.1% on the month and up 3.1% on
the year, compared to up 3.9% on the year in Aug. The 3-month on 3-month
change in prices turned sharply negative after being flat in August, at
-0.9% in September from unchanged in Aug. Nationwide’s Chief Economist
Martin Gahbauer said the trend in house prices was “consistent with the
clear loosening of housing market conditions observed over the summer
months”.