Annual house price growth continues to soften

Nationwide have released their House Price Index for February 2015. Annual house price growth slowed to 5.7% in February from 6.8% in January Annual house price growth slowed for the sixth month in a row UK house prices fell by 0.1% in February Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “February saw a further softening in annual house price growth to 5.7%, from 6.8% in January.  This is the sixth month in a row in which annual growth has moderated, with house prices declining by 0.1% month on month. “The broader economic backdrop has remained supportive of housing market activity. Mortgage rates remain close to all-time lows and consumer confidence remains buoyant thanks to a further steady improvement in labour market conditions. Indeed, the unemployment rate has continued to decline and earnings growth has picked up, particularly in inflation-adjusted terms, thanks in part to the sharp decline...
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