UK June Nationwide house prices +0.2% vs -0.1% m/m expected

• Prior +0.4%

A delay in the release by the source. House prices in the UK continue to hold up but Nationwide argues that activity in the market remains fairly subdued despite that. The firm notes that: “Housing market activity has been broadly flat over the last year, with the total number of transactions down by around 15% compared with 2019 levels. Transactions involving a mortgage are down even more (nearly 25%), reflecting the impact of higher borrowing costs. By contrast, the volume of cash transactions is actually around 5% above pre-pandemic levels.”

This article was written by Justin Low at www.forexlive.com.