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☆ The royals' old creed of 'never complain, never explain' is a relic of a bygone era
▼ + stars: | 2024-03-18 | by ( Cheryl Teh | Mikhaila Friel | ) www.businessinsider.com time to read: +7 min

The royal family's PR strategy is in need of an update, experts say. The stoicism of the royal family's unofficial motto, "never complain, never explain," was a hallmark of Queen Elizabeth II's reign. Kate Middleton, Prince William, Prince Harry, and Meghan Markle at Windsor Castle. But it's just a motto," Prince Harry told Anderson Cooper during a January 2023 episode of "60 Minutes." Prince William, Prince of Wales and Catherine, Princess of Wales in February 28, 2023.

Persons: —, Prince Harry, Meghan, Oprah, excoriating, Buckingham, Queen Elizabeth II's, Kate Middleton, Prince William, Meghan Markle, Chris Jackson, King Charles, Princess Diana, Kate, Sovereign Grant, Prince William —, Duke of, Anderson Cooper, Prince William , Prince of Wales, Catherine , Princess of Wales, Max Mumby, William's, William, Evan Nierman, Nierman, Elizabeth II, Benjamin Disraeli, Marie Claire, Kristen Meinzer, Stringer, Elizabeth, Meinzer, Queen Elizabeth, Charles, Diana's, Graham Smith, Danny Lawson, Smith Organizations: PR, Service, Getty, Sovereign, Daily, British, Hulton Locations: Windsor, Duchy, Lancaster, Duke of Cornwall, Cornwall, Kensington, Republic, Buckingham

☆ Britain's royal family should follow the lead of major CEOs when it comes to transparency, says expert
▼ + stars: | 2024-03-16 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

The royal household is exempt from freedom of information laws in the UK since it isn't a public authority. Hay suggested that the monarchy should follow the lead of major companies that have been transparent when a CEO becomes unwell. While Kensington Palace was clear that it wouldn't provide a "running commentary" on the princess' well-being, that didn't stop conspiracy theories on her whereabouts. Meanwhile, CNN said it was reviewing all Kensington Palace handouts in light of the incident. Kensington Palace did not immediately respond to a request for comment.

Persons: Kate, —, Bob Krist, George Hay, Hay, JP Morgan Chase, Jamie Dimon, António, Osório, Prince William, Catherine, Duchess, Chris Jackson, Phil Chetwynd, Buckingham, King Charles, Charles III, Max Mumby, Graham Smith, Jack Royston, Royston, Kensington Organizations: Service, Brand Finance, Windsor, Getty, Tourism, Frogmore, Reuters, Barclays, CNBC, Lloyds Banking Group, BBC News, BBC, AFP, CNN, YouGov Locations: London, Britain, António Horta, Horta, Kensington, Cambridge, Belgium, Greece, Bulgaria, Republic

☆ Meghan and Prince Harry's biographer Omid Scobie says he was harassed and called a 'terrorist' for publicly supporting the couple
▼ + stars: | 2023-11-28 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +9 min

AdvertisementIt's the day after Thanksgiving and Omid Scobie has been awake since 5 a.m. at his home in California. Scobie can relate to Meghan Markle's experiencesAfter a while, some British publications started referring to Scobie as Meghan and Harry's "mouthpiece" and "cheerleader," he wrote in the book. Despite having her own tormentors to deal with, Meghan reportedly called Scobie in the summer of 2018 to check if he was OK. AdvertisementRepresentatives for the royal family are yet to publicly comment on the book. Speaking to Oprah Winfrey in 2021, Prince Harry said the royals have an "invisible contract" with the tabloids, where they wine and dine certain reporters in exchange for better coverage.

Persons: Omid Scobie, Scobie, —, Queen Elizabeth II's, Prince Harry, Meghan Markle, Prince William, Kate Middleton, Luke Fontana, Harry, Meghan, Meghan Markle's, It's, I've, Duchess, Doria Ragland, Sara Latham, Carolyn Durand, Duke, Duchess of, Harper Collins, King Charles, Prince William's, King Charles and Prince William, Chris Jackson, William, Rebecca English, Oprah Winfrey, you've, Anita Singh, Piers Morgan, Morgan, Queen Camilla Organizations: Service, ABC, Daily Mail, Mail, New York Times, Getty Images, REUTERS, Daily, Sun Locations: California, Harper's, London, British, Iranian, Sussex, Duchess of Sussex, Buckingham, Kensington

☆ UK house prices show surprise rise in October - Nationwide
▼ + stars: | 2023-11-01 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

Prices increased by 0.9% from September when they had risen by a marginal 0.1%, Nationwide said. It was the biggest monthly increase since August 2022. Economists polled by Reuters had expected prices to fall by a monthly 0.4% and by 4.8% year on year. "The uptick in house prices in October most likely reflects the fact that the supply of properties on the market is constrained," Nationwide Chief Economist Robert Gardner said. "While some buyers are able to accept higher mortgage payments, helping to prop up house prices, their number is dwindling as shown by the drop in mortgage approvals in September," Pattison said.

Persons: Robert Gardner, BoE, Gardner, Imogen Pattison, Pattison, William Schomberg, Jason Neely Organizations: Nationwide, Reuters, Royal Institution, Chartered Surveyors, Bank of England's, Capital Economics, Thomson

☆ Asking prices of UK homes show smallest October rise since 2008
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 16 (Reuters) - Asking prices for homes in Britain have risen at their slowest pace for the time of year since 2008, property website Rightmove said on Monday in a latest sign of how the climb in borrowing costs has slowed the housing market. Average asking prices for homes increased by 0.5% between Sept. 10 and Oct. 7 from the previous four weeks, well below the average increase for the period of 1.4%, Rightmove said. Prices were down 0.8% compared with a year earlier and the number of agreed sales was down 17% in annual terms. Other measures of Britain's housing market - which boomed during the COVID-19 pandemic - have also cooled with the Royal Institution of Chartered Surveyors' measure of house prices showing the most widespread falls since 2009 in September. Reporting by William Schomberg; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Rightmove, Tim Bannister, William Schomberg, William James Our Organizations: Royal Institution, Chartered Surveyors, Bank of England, Thomson Locations: Britain

☆ UK housing market challenging but rate pause offers hope -RICS
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, edged down to -69 after August's sharp drop to -68. Echoing other gauges of British house prices, RICS' latest figure was the weakest since February 2009 and was below the median forecast of -63 in a Reuters poll of economists. Britain's housing market boomed during the coronavirus pandemic as demand for homes with more space surged, but it has been a victim of the BoE's run of 14 interest rate hikes, which began in December 2021. "Although the decision to pause monetary policy tightening a few weeks ago provided a glimmer of relief for the market, interest rates are likely now set to remain on hold for a prolonged period," Parsons said. The weak state of the housing market has hurt companies such as building materials supplier Travis Perkins (TPK.L), which on Wednesday downgraded its annual profit forecast by as much as 27%.

Persons: Henry Nicholls, RICS, Tarrant Parsons, Parsons, Travis Perkins, William Schomberg, Kylie MacLellan Organizations: REUTERS, Bank, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain

☆ UK home-buyer demand inches up as mortgage rates fall: Zoopla
▼ + stars: | 2023-09-27 | by ( David Milliken | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Sept 28 (Reuters) - More Britons made enquiries with estate agents about potential house purchases over the past four weeks as mortgage rates started to fall, breaking a downward trend which has been in place since April, property website Zoopla said on Thursday. "Better news on inflation and the end of base rate increases has provided scope for lenders to start reducing mortgage rates which has supported a modest uptick in demand for homes," Zoopla's executive director, Richard Donnell, said. Weekly mortgage data collated by property website Rightmove showed the average interest rate for a mortgage with a two-year fixed rate fell from an average of 6.41% in August to 6.07% this week. This still represents a sharp increase from 4.60% a year ago, when mortgage rates had already begun to climb after bond markets baulked at the then-Prime Minister Liz Truss' budget plans as well as BoE tightening. Mortgage lender Halifax said house prices in August were 4.6% lower than a year earlier, the sharpest drop in 14 years.

Persons: Phil Noble, Zoopla, Richard Donnell, Rightmove, Liz Truss, BoE, David Milliken, William James Our Organizations: REUTERS, Royal Institution, Chartered Surveyors, Thomson Locations: Knutsford, Britain, Halifax

☆ Asking prices for UK homes pick up slightly despite summer slowdown: Rightmove
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +2 min

A rainbow is seen over apartments in Wandsworth on the River Thames as UK house prices continue to fall, in London, Britain, August 26, 2023. Rightmove said average asking prices for homes increased by 0.4% from the sharp 1.9% drop in the month before, but below the ten-year average of a 0.6% rise in September. A closely-watched Royal Institution of Chartered Surveyors report last week showed a sharp contraction in the market was underway. Rightmove said the number of home sales was down 7% compared with 2019, before the pandemic distorted the market. It said the rate of reduction in asking prices and the number of homes reduced in price hit the highest since January 2011.

Persons: Kevin Coombs, Rightmove, Tim Bannister, Bannister, Suban Abdulla Organizations: REUTERS, Bank of England, Royal Institution, Chartered Surveyors, Bank of England's, Nationwide, Thomson Locations: Wandsworth, London, Britain, Halifax

☆ Bank of England to raise Bank Rate to 5.50% in September, significant minority expect further hike: Reuters poll
▼ + stars: | 2023-09-14 | by ( Shaloo Shrivastava | ) www.reuters.com time to read: +4 min

Nearly all 65 economists in the Sept. 11-13 Reuters poll expected the BoE to hike its Bank Rate by 25 basis points to 5.50% this month, in line with interest rate futures pricing. Survey medians showed the Bank Rate was expected to peak at 5.50%, matching rate futures pricing, and stay there until mid-2024. While 28 economists expected the Bank Rate to peak at 5.75%, two said 6.00%. Nine of 16 gilt-edged Market Makers (GEMMs) that participated in the poll predicted a 5.50% peak rate and seven said 5.75%. A separate Reuters poll showed average house prices in Britain were predicted to fall 4% this year and flatline in 2024 before rising in 2025.

Persons: BoE, Maja Smiejkowska, Ellie Henderson, BoE Governor Andrew Bailey, Catherine Mann, Shaloo Shrivastava, Anitta Sunil, Purujit Arun, Maneesh Kumar, Pranoy, Ross Finley, Hari Kishan, Mark Potter Organizations: Bank of England, REUTERS, Rights, Reuters, HSBC, MPC, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain, Investec

☆ UK house prices fall by most since 2009, Nationwide says
▼ + stars: | 2023-09-01 | by ( David Milliken | ) www.reuters.com time to read: +2 min

Prices dropped by 0.8% in August alone, the largest monthly fall since March, after a 0.3% decline in July, Nationwide's figures showed. The Bank of England has raised interest rates 14 times since December 2021 to 5.25%, and financial markets expect another rate increase this month to 5.5%. However Andrew Wishart, senior property economist at Capital Economics, said he expected house prices had another 5% to fall, taking the total peak-to-trough decline to 10.5%. "We think the August data marks the start of a significant further drop in house prices," he said, pointing to weakness in the latest Royal Institution of Chartered Surveyors survey, which shows the most widespread price falls since 2009. The poll showed respondents expected house prices to be unchanged in 2024 and to rise just over 3% in 2025.

Persons: Alishia, Robert Gardner, Gardner, Andrew Wishart, David Milliken, Sarah Young, Mike Harrison Organizations: REUTERS, Nationwide, The Bank of England, BBC, Capital Economics, Royal Institution, Chartered Surveyors, Thomson Locations: South London, Britain

☆ UK buyers retreat from housing market, further slowdown seen - RICS
▼ + stars: | 2023-07-12 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, July 13 (Reuters) - Britain's housing market showed signs of a slowdown in June and property surveyors expect activity to remain subdued as higher borrowing costs hit new buyer enquiries, according to an industry survey on Thursday. The Royal Institution of Chartered Surveyors (RICS) said a net balance of -45 in a poll of its members reported a fall in new buyer enquiries last month, down from the -20 in May. Britain's housing market faces pressure from softer buyer demand and falling house prices against a backdrop of surging mortgage rates and the Bank of England's battle to tame stubborn inflation. Average two-year fixed mortgage rates hit a 15-year high earlier this week. British mortgage lender Halifax, last week said house prices fell by 2.6% year-on-year in June, the largest annual drop since 2011.

Persons: Liz Truss's, Simon Rubinsohn, Rubinsohn, Suban Abdulla, David Milliken Organizations: Royal Institution, Chartered Surveyors, Bank of, Financial, Halifax, Nationwide, Thomson

The military has for decades invoked its duty to defend the monarchy to justify intervention in politics, and used the lese majeste law to stifle dissent, critics say. Much depends on whether Move Forward's main ally, second-place winner Pheu Thai, sticks with it or seeks other coalition partners if Pita's bid looks doomed. King Vajiralongkorn, 70, who has no role in choosing a government, has remained silent on the lese majeste issue since the election. In the last election in 2019, no party would have dared suggest amending the lese majeste law. Pheu Thai, which has 141 seats to Move Forward's 151, could nominate its prime ministerial candidate with the eight-party alliance intact.

Persons: Maha Vajiralongkorn, Suthida, Pita Limjaroenrat, Pita, Seri Suwanpanon, King Maha Vajiralongkorn, Prayuth Chan, Pheu, King Vajiralongkorn, Thitinan Pongsudhirak, Thaksin Shinawatra, Titipol Phakdeewanich, Amarat Chokepamitkul, Panu, Kay Johnson, Robert Birsel Organizations: REUTERS, Reuters, Royal News, Thai Lawyers for Human Rights, Bangkok's Chulalongkorn University, Senate, Ubon Ratchathani University, Royal Household Bureau, Thomson Locations: Bangkok, Thailand, Thai, Handout, BANGKOK, Pheu

Bangkok, Thailand CNN —A Thai court on Wednesday acquitted five activists accused of obstructing the Queen’s motorcade at a protest in 2020, in a landmark judgment that ended the prospect of more severe punishment nearly three years after rare calls for reform of the powerful monarchy erupted in the kingdom. Thai Lawyers for Human Rights, which represented the five activists, said a court in the capital Bangkok acquitted the defendants on all the charges, ruling the protesters were not aware of the incoming royal convoy. On October 14, 2020, dozens of protesters had gathered outside Bangkok’s Government House when Queen’s Suthida’s motorcade drove past. If the actions are considered likely to endanger the Queen’s life, then the death penalty could be applied. When the protesters realized it was a royal procession, they allowed it to move through and there were no objects thrown or obstruction of the procession, the court found, according to Thai Lawyers for Human Rights.

Persons: Boonkueanun “ Francis ” Paothong, –, Lese, Queen’s, King Maha Vajiralongkorn’s, Prince Dipangkorn, Ekachai, Suranat Paenprasert, ‘, ’ Boonkueanun, Boonkueanun, “, ” Organizations: Thailand CNN, Thai Lawyers for Human Rights, CNN, Party, Hunger Games, Police, Queen, Relations, Mahidol University Locations: Bangkok, Thailand, Thai, Thailand’s, Bangkok’s

☆ UK housing market improves but slowdown seen as rates rise-RICS
▼ + stars: | 2023-06-07 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

RICS' house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, increased to -30 last month from -39 in April. However, analysts are forecasting another slowdown for the housing market with markets largely expecting the BoE's Bank Rate to peak at 5.5% later this year, up from 4.5% now. Britain's housing market staged a recovery earlier this year after former prime minister Liz Truss's "mini-budget" caused turmoil in financial markets in September and sent the cost of fixed mortgage rates sharply higher to above 6%. Britain's biggest mortgage lender, Halifax, on Wednesday said house prices dropped by 1.0% year-on-year in May, the first annual decline since 2012. Some mortgage lenders, including Halifax and Nationwide Building Society have ramped up their fixed mortgage rates in response to the rise in borrowing costs in financial markets.

Persons: RICS, Tarrant Parsons, Liz Truss's, BoE, Suban Abdulla, William Schomberg Organizations: Bank of England, Royal Institution, Chartered Surveyors, Nationwide, Nationwide Building Society, Thomson Locations: April's, Halifax

☆ British home-buyers, facing higher interest rates, retreat in April - RICS
▼ + stars: | 2023-05-10 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, May 11 (Reuters) - British property surveyors reported a drop in demand in April as new buyers turned more cautious ahead of the Bank of England's latest expected interest rate increase, an industry survey showed on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its measure of new buyer enquiries fell to a net balance of -37 in last month from -30 in March, the lowest since January. Simon Rubinsohn, chief economist at RICS, said the survey pointed to challenges in terms of sales and lettings. The net balance of agreed house sales across Britain fell slightly but respondents noted a pick-up in the number of properties on the market. Data from mortgage lender Halifax published on Tuesday showed house prices grew at the slowest annual pace in more than 10 years in April.

Just 21% say their views on the royal family have gotten more positive over the past decade, with another 41% saying their overall opinion has stayed the same. A CNN poll suggests attitudes towards the British royal family have worsened over the past decade, ahead of the coronation of King Charles III. Prince Harry (right) and Meghan (left) are among those members of the royal family rated most favorably by young people. Jamie Lorriman/AFP/Getty ImagesBut not all members of the royal family are viewed in the same light. The poll was conducted on March 24 through 26 among a random sample of 2,093 UK adults aged 18 and older.

The commodity-heavy FTSE 100 (.FTSE) edged 0.1% lower, while the mid-cap FTSE 250 (.FTMC) was flat as of 0814 GMT. "Gains in homebuilders is being counteracted by ex-dividend moves today," said Chris Beauchamp, chief market analyst at IG Group. Even as concerns over a potential U.S. recession have weighed on investor sentiment, defensive stocks such as pharmaceuticals as well as commodity-linked stocks have kept FTSE 100 afloat recently. Shares of Lloyds Group (LLOY.L), Unite Group (UTG.L) and Persimmon (PSN.L) among others were down between 1.7%-3% as the stocks traded ex-dividend. Reporting by Shristi Achar A in Bengaluru; Editing by Sohini Goswami and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ UK housing market weakness continues, improvement on the horizon - RICS
▼ + stars: | 2023-04-12 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

RICS's gauges of buyer demand, sales, new listings and house prices were all in negative territory last month. However, its indicators looking ahead pointed to hints of stability in Britain's housing market in the coming 12 months. The sales expectations balance for 12 months' time rose to +1, its highest since March 2022. Mortgage lender Nationwide reported a 3.1% drop in house prices in the year to March - the fastest annual fall since July 2009 - while rival Halifax said prices grew 1.6% year-on-year. Its non-seasonally adjusted monthly tenant demand growth indicator hit a five-month high, with a net balance of +46.

☆ UK house price slide accelerates in March: Nationwide
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 31 (Reuters) - British house prices slid in March at the fastest annual rate since the financial crisis, mortgage lender Nationwide said on Friday. House prices fell 3.1% year-on-year, the biggest such drop since July 2009, Nationwide said. Economists polled by Reuters had expected prices to fall by 2.2% from a year earlier and by 0.3% in monthly terms. Nationwide said the market was still feeling the effects of a "turning point" last year - the September economic agenda of former prime minister Liz Truss, which prompted a confidence crisis in British assets and hammered the mortgage market. Reporting by Andy Bruce; editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ UK mortgage approvals rose more than expected in February: BoE
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

The increase follows reports from the Royal Institution of Chartered Surveys and mortgage lender Halifax that show the downturn in the housing market is no longer accelerating, even if conditions remain weak. Britain's housing market slowed sharply after September when former prime minister Liz Truss's economic plans triggered a spike in mortgage rates and a dramatic fall in approvals. "Reflecting the partial unwinding of the spike in mortgage rates following the 'mini' budget, mortgage approvals rose to their highest level for three months in February," said Andrew Wishart, economist at consultancy Capital Economics. "However, with mortgage rates unlikely to fall much further in the near term, lending will remain weak." Net mortgage lending value terms, which lags approvals, fell in February to 738 million pounds from 2 billion pounds in January, the lowest reading since July 2021.

☆ UK house prices slide further but market pessimism eases: RICS
▼ + stars: | 2023-03-09 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, fell to -48 in February from -46 the previous month - the lowest reading since April 2009. While Thursday's survey still showed the housing market firmly in decline, some measures indicated that a more stable picture was emerging in 2023, RICS said. Tarrant Parsons, senior economist at RICS, said he expected housing market activity to remain subdued over the coming months. "Given the ongoing weakness in demand, house prices remain on a downward trajectory, and are expected to see further falls through the first half of the year at least," Parsons said. In contrast, another lender, Nationwide, last week said house prices dropped by the most in more than 10 years in February.

☆ UK housing market hit by widest prices falls since 2009 - RICS
▼ + stars: | 2023-02-09 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the gap between the percentage of surveyors seeing rises and falls in house prices, fell to -47, the lowest since April 2009, from -42 in December. Simon Rubinsohn, chief economist at RICS, said the overall mood of the market as measured by surveyors remained subdued. Other housing market measures have also recently shown a loss of momentum following the surge in demand seen during the coronavirus pandemic. A Reuters poll of economists and analysts in November predicted house prices would fall around 5% this year having surged by 28% since the start of the pandemic in 2020. RICS said the rental market continued to show strong interest from tenants with limited availability of stock.

☆ Prince Harry’s Book ‘Spare’ Goes On Sale, Detailing Deep Royal Rift
▼ + stars: | 2023-01-10 | by ( Max Colchester | David Luhnow | ) www.wsj.com time to read: 1 min

LONDON— Prince Harry ’s memoir, officially published Tuesday, lays bare the scale of the family split in the House of Windsor, in an account that royal commentators say could do lasting damage to both the prince and the world’s most famous royal institution. The book, titled “Spare,” inadvertently went on sale in Spain last week, ahead of its official launch date. Since then, much of the British press has already published key details from it about how King Charles ‘s younger son fell out of love with royal life as well as allegations of dysfunction at the heart of the institution often referred to as “the Firm.”

☆ Prince Harry’s Memoir ‘Spare’ Is Released, Detailing Deep Royal Rift
▼ + stars: | 2023-01-10 | by ( Max Colchester | David Luhnow | ) www.wsj.com time to read: 1 min

Prince Harry’s memoir, ‘Spare,’ which went on sale in London on Tuesday, details a raft of allegations about life in the royal family. LONDON— Prince Harry ‘s memoir, officially published Tuesday, lays bare the scale of a deep family split in the House of Windsor, in an account that royal commentators say could do lasting damage to both the prince and the world’s most famous royal institution. The book, titled “Spare,” inadvertently went on sale in Spain last week, ahead of its official launch date. Since then, much of the British press has already published key details from it about how King Charles’s youngest son fell out of love with royal life as well as allegations of dysfunction at the heart of the institution often referred to as “the Firm.”

☆ UK house prices end 2022 on a weaker note after pandemic boom
▼ + stars: | 2022-12-30 | by ( Muvija M | ) www.reuters.com time to read: +3 min

The lender also said that the final month of 2022 saw prices record their worst run since 2008 on a monthly basis, falling 0.1% compared with November in their fourth consecutive monthly price fall. In annual terms, house price growth slowed to 2.8% in December from 4.4% in November, Nationwide said, compared with the 2.3% growth forecast in a Reuters poll. That has marked a slowdown from last year when price growth reached multi-year highs due to strong demand as people desired bigger homes more suited for remote working during the health crisis. NEW YEAR ACTIVITYEarlier in December, a survey by the Royal Institution of Chartered Surveyors (RICS) showed the most widespread house price falls in Britain since early in the pandemic last month. If sustained, this should feed through to mortgage rates and help improve the affordability position for potential buyers," he added.

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