UK house prices have grown slightly but the market is still suffering from Brexit uncertainty, according to a report by Nationwide which said prices had now risen by less than 1% for 11 months. Chief Economist Robert Gardner said the average price had risen by £1,028 ($800) in the year to October compared to a £9,100 rise in the year after the Brexit referendum. Gardner said a strong labour market and low borrowing costs were continuing to offset the impact of uncertainty, but questioned whether that would continue.
UK house prices have grown slightly but the market is still suffering from Brexit uncertainty, according to a report by Nationwide which said prices had now risen by less than 1% for 11 months. Chief Economist Robert Gardner said the average price had risen by £800 ($1,028) in the year to October compared to a £9,100 rise in the year after the Brexit referendum. Gardner said a strong labour market and low borrowing costs were continuing to offset the impact of uncertainty, but questioned whether that would continue.