- NEWS Desk Global
UK HOUSE PRICES FALL BY LEAST IN EIGHT MONTHS
In February, British house prices experienced the smallest decline in eight months, with a marginal decrease of 0.2% on an annual basis, following a revised 1.3% drop in January. Meanwhile, the gauge of private rents surged by 9.2% in the year to March, marking the most significant increase since records began in 2015 and up from 9.0% in the 12 months to February. Other indicators of Britain's housing market have indicated a rebound from a recent slowdown, driven by investor anticipation of interest rate cuts by the Bank of England later this year.
Earlier this month, mortgage lender Halifax reported that property prices dipped for the first time in six months in March. However, prices rebounded in March at their quickest annual pace since December 2022. Nevertheless, a deceleration in the decline of British inflation data led investors to revise down expectations of interest rate cuts by the BoE, with the first, and potentially sole, rate cut fully priced in for November.