(Bloomberg) --
U.K. house prices barely moved this month as the market remained trapped by Brexit uncertainty, according to Nationwide Building Society.
Prices edged up 0.2% in October from last month, the mortgage lender said Tuesday. From a year ago, values rose 0.4%, registering sub-1% growth for an 11th month.
The U.K. housing market has been hamstrung by Brexit turmoil this year as the country approaches its departure from the European Union. Originally scheduled for March, and then October, the deadline has now been extended until January, increasing the uncertainty for buyers and sellers alike.
“Indicators of U.K. economic activity have been fairly volatile in recent
quarters, but the underlying pace of growth appears to have slowed as a result
of weaker global growth and an intensifying of Brexit uncertainty,” said Robert Gardner, Nationwide's chief economist.
To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Brian Swint
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
