UK house price slowdown ‘on way’; factory growth hits 16-month low – as it happened
by Graeme Wearden from on (#5ZVZN)
Rolling coverage of the latest economic and financial news
- Latest: UK factory growth hits 16-month low
- Nationwide: Annual house price growth slowed to 11.2%
- IoD: Directors economic confidence hit amid inflation and Brexit
- Food inflation drives highest UK shop prices rise in more than a decade
- Mike Ashley's Frasers buys Missguided
Jonathan Hopper, CEO of Garrington Property Finders, warns that the UK's housing market will soon lose momentum:
At first glance the headline figures suggest the housing market is blissfully unaware of the cost of living crisis.
The annual rate of price growth remains comfortably in double figures and the monthly change in prices - up 0.9% in May alone - has accelerated rather than slowed.
Because of the impact of the epidemic, Shanghai, a megacity, entered an unprecedented period of silence."
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