Cost of living squeeze dents UK house price growth
by Angela Monaghan from Economics | The Guardian on (#3CC2B)
Low mortgage rates and property shortage prevents bigger slowdown, as London prices fall for first time in eight years
UK house prices increased just 2.6% in 2017 while prices in London fell for the first time in eight years, according to the leading mortgage lender Nationwide.
This followed an increase of 4.5% in 2016 and was the slowest rate of annual growth since 2012, as households constrained by falling real pay grew increasingly reluctant to commit to major spending decisions.
Related: Six factors influencing the UK property market in 2018
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