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Top related persons:
Robert Gardner - 7 Gardner - 4 BoE - 3 William Schomberg - 3 Andy Bruce - 2 Sarah Young - 2 Kevin Coombs - 1 Imogen Pattison - 1
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London Britain Wandsworth South London South Kensington Wall Silicon Stanhope
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Nationwide - 6 Thomson - 6 Capital Economics - 3 REUTERS - 2 Bank of England - 2 Royal Institution - 2 Chartered Surveyors - 2 The Bank of England - 2

Search resuls for: "Robert Gardner"


18 mentions found


☆ UK housing market shows new signs of strength - Nationwide
  + stars: | 2023-12-01 | by ( ) www.reuters.com   time to read: +1 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. REUTERS/Kevin Coombs/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - British house prices rose unexpectedly in monthly terms for the third time running in November, adding to signs that the housing market downturn has abated, mortgage lender Nationwide said on Friday. House prices rose by 0.2% on the month in November, after a 0.9% increase in October. Compared with a year ago, house prices were 2% lower - the smallest such drop in nine months. "There has been a significant change in market expectations for the future path of Bank Rate in recent months which, if sustained, could provide much needed support for housing market activity," said Robert Gardner, chief economist at Nationwide.
Persons: Kevin Coombs, Robert Gardner, Andy Bruce, Sarah Young Organizations: REUTERS, Nationwide, Bank of England, Thomson Locations: Wandsworth, London, Britain
☆ 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
☆ UK house prices fall by 5.3% in 12 months to September - Nationwide
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Oct 2 (Reuters) - British house prices in September were 5.3% lower than a year earlier, matching their fall in August which was the biggest annual drop since 2009, figures from mortgage lender Nationwide showed on Monday. In month-on-month terms, prices were unchanged in September after a 0.8% fall in August, Nationwide said. Britain's housing market has slowed as borrowing costs mount, but the fall in house prices so far remains much less marked than their jump of about 25% between the start of the coronavirus pandemic and September last year. The combination of rising wages and lower house prices and mortgage rates would probably improve affordability in the housing market over time although it was set to remain subdued in the interim, he said. Transaction volumes for flats were holding up better than other property types, possibly reflecting how prices for smaller homes did not rise as much during the pandemic, Nationwide said.
Persons: Robert Gardner, William Schomberg, Louise Heavens, Kirsten Donovan Organizations: Nationwide, Bank of England, Thomson
☆ 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 house prices drop by most since 2009: Nationwide
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Aug 1 (Reuters) - British house prices fell by the most since 2009 in the 12 months to July, mortgage lender Nationwide said on Friday, as the drag from rising interest rates on the housing market intensified. Compared with July last year, the average house price was down 3.8% after a 3.5% annual fall in June, Nationwide said. House prices fell 0.2% month-on-month, Nationwide said. "This challenging affordability picture helps to explain why housing market activity has been subdued in recent months," Gardner said. Still, Gardner said a relatively soft landing for the housing market was achievable.
Persons: Robert Gardner, Gardner, BoE, Andy Bruce, Kate Holton Organizations: Nationwide, The Bank of England, Reuters, Thomson
☆ An outdoor balcony in London is on the market for $63,700, but the listing agent says it doesn't come with an apartment
  + stars: | 2023-08-01 | by ( Mikhaila Friel | ) www.businessinsider.com   time to read: +4 min
A lone balcony in South Kensington, London, is on the market for $63,700. The listing agent told Insider that the property is a reflection of London's housing market. But an apartment isn't included in that price, the property's listing agent told Insider. Jacobs told Insider that the agency has received around 220 inquiries about the balcony since it was put on the market three weeks ago. Meanwhile, the average London property increased by 0.8% from £521,561, or around $664,990, in May 2022 to £525,629, or around $670,176, in May 2023, the report added.
Persons: Glenn Jacobs, Jacobs, It's, Prince William, Kate Middleton's, Peter Dazeley, Robert Gardner Organizations: Service, Next, Evening, Google, Nationwide Building Society, Government Locations: South Kensington, London, Wall, Silicon, Stanhope, Next Lome, Harrods, Kensington
☆ UK house prices fall by most since 2009, higher rates to bite-Nationwide
  + stars: | 2023-06-01 | by ( ) www.reuters.com   time to read: +2 min
LONDON, June 1 (Reuters) - British house prices fell by the most since 2009 in the 12 months to May and the country's housing market faces further headwinds after a recent jump in borrowing costs, mortgage lender Nationwide said on Thursday. Compared with May last year, the average house price was down 3.4% after a 2.7% annual fall in April, Nationwide said. House prices edged down by 0.1% in May from April after a monthly 0.4% rise in April, Nationwide said. Martin Beck, an economist with the EY Item Club, a forecasting group, said the 4% fall in house prices from last August's peak was modest compared with the 7% rise in house prices over the past two years. Analysts at Capital Economics said prices would fall another 8% while Pantheon Macroeconomics said they would drop 4%.
Persons: Liz Truss's, Headwinds, Robert Gardner, Gardner, Martin Beck, BoE, Beck, William Schomberg, Muvija M, Paul Sandle, Christina Fincher Organizations: Nationwide, Bank of, Capital Economics, Thomson Locations: Bank, Bank of England
☆ UK house prices stabilise after mini-budget fall: Nationwide
  + stars: | 2023-05-02 | by ( ) www.reuters.com   time to read: +1 min
LONDON, May 2 (Reuters) - British house prices rose by 0.5% in April after falling for the seven previous months, mortgage lender Nationwide said, adding to signs that the property market has stabilised after last year's "mini-budget" upheaval. The average house price remained 4% below its peak in August last year which was before former Prime Minister Liz Truss and her finance minister Kwasi Kwarteng briefly sent debt markets into a tailspin by announcing a plan for big, unfunded tax cuts. Compared with April last year, the average house price was down by 2.7%, Nationwide said. Analysts polled by Reuters had expected prices to fall by 0.4% in month-on-month terms and by an annual 3.6%. Reporting by William Schomberg; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.
☆ 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 house prices post sharpest annual fall for a decade
  + stars: | 2023-03-01 | by ( Elliot Smith | ) www.cnbc.com   time to read: +1 min
March 1, 2023: U.K. house prices saw their sharpest annual decline since 2012 in February, according to Nationwide. LONDON — U.K. house prices fell by 1.1% annually in February, their first annual decline since June 2020 and the sharpest contraction since November 2012, according to a widely-watched report from building society Nationwide. February saw a 0.5% month-on-month fall, with prices now 3.7% lower than their August 2022 peak as higher mortgage rates and a cost-of-living crisis continued to deter homebuying. "While financial market conditions normalised some time ago, housing market activity has remained subdued." February's fall likely reflects the lingering damage to confidence and squeeze on household incomes, with inflation continuing to outpace wage growth and mortgage rates remaining substantially higher than their 2021 lows, Gardner explained.
☆ UK house prices show first annual fall since 2020 - Nationwide
  + stars: | 2023-03-01 | by ( ) www.reuters.com   time to read: +2 min
With inflation still above 10% and borrowing costs rising, the house price fall represented the first annual drop since June 2020 - early in the coronavirus pandemic - and the biggest such decrease since November 2012, Nationwide said. Economists polled by Reuters had expected prices to fall by 0.9% from a year earlier and by 0.4% in monthly terms. Nationwide said prices were now 3.7% lower than their peak in August last year. "Solid gains in nominal incomes together with weak or declining house prices will also support housing affordability, especially if mortgage rates edge lower in the coming months." Nationwide forecast in December that house prices would fall 5% in 2023.
☆ UK house prices post sharpest fall since 2012
  + stars: | 2023-03-01 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
London CNN —UK house prices last month saw their biggest annual decline since November 2012, in the latest indication of the lasting pain that former Prime Minister Liz Truss’s ill-fated “mini” budget inflicted on Britain’s property market. The average price of a house fell 1.1% to £257,406 ($310,000) in February compared with a year earlier, taking UK house price growth into negative territory for the first time since June 2020, lender Nationwide said Wednesday. House prices have now declined for six months in a row and are 3.7% below their August 2022 peak, according to Nationwide’s index based on purchases involving a mortgage. “The economy has largely moved on from the mini budget, but the hangover for the UK housing market is more prolonged. Mortgage rates have started to fall but recent stronger-than-expected UK economic data could lead the Bank of England to keep interest rates higher for longer, causing the downward drift in mortgage rates to “stall,” he told CNN.
☆ UK house prices fall by most since 2012, mortgage approvals drop
  + stars: | 2023-03-01 | by ( William Schomberg | ) www.reuters.com   time to read: +3 min
Analysts in a Reuters poll published on Tuesday expect house prices to fall by 2.4% in 2023, less than previously as a resilient job market and easing recession fears soften the blow of higher borrowing costs. Economists polled by Reuters had expected prices to fall by 0.9% from a year earlier and by 0.4% in monthly terms. "Solid gains in nominal incomes together with weak or declining house prices will also support housing affordability, especially if mortgage rates edge lower in the coming months." Nationwide forecast in December that house prices would fall 5% in 2023. Gabriella Dickens, an economist with consultancy Pantheon Macroeconomics, said she expected house prices would fall to about 8% below last year's peak.
☆ UK house prices fall in January for fourth month in a row - Nationwide
  + stars: | 2023-02-01 | by ( David Milliken | ) www.reuters.com   time to read: +2 min
January's decline in house prices was the fourth drop in a row and twice the size expected in a Reuters poll of economists, adding to signs that the market is slowing rapidly. Interest rates have risen sharply since December 2021 and there was major disruption to the mortgage market in late September and October following former prime minister Liz Truss's "mini budget", which set market interest rates soaring. Nationwide forecast in December that house prices would fall 5% in 2023. House prices in January were 1.1% higher than a year earlier, Nationwide said, the smallest year-on-year increase since June 2020 and down from a 2.8% increase in December. British house prices soared by more than a quarter during the COVID-19 pandemic, boosted by ultra-low interest rates, tax incentives and broader demand for more living space during lockdown, which was seen in other Western countries too.
☆ 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.
☆ UK's Nationwide forecasts 5% house price fall for 2023
  + stars: | 2022-12-20 | by ( David Milliken | ) www.reuters.com   time to read: +2 min
British house prices rose by more than a quarter in the two years after the onset of the COVID-19 pandemic as people sought more space to live and took advantage of low borrowing costs and tax incentives. However, prices have now started to fall, with Nationwide reporting three consecutive monthly drops in average house prices for the first time since 2008. Financial market turmoil in late September and early October added to the slowdown, as many lenders temporarily withdrew mortgage offers until market interest rates stabilised. "Financial market conditions have now settled with long-term interest rates returning to the levels prevailing before the mini-Budget. However, mortgage rates are taking longer to normalise and activity levels in the housing market have shown few signs of recovery," Nationwide's Gardner said.
☆ UK house prices post biggest slide since mid-2020: Nationwide
  + stars: | 2022-12-01 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Dec 1 (Reuters) - British house prices tumbled 1.4% in November compared with October, the biggest monthly drop since June 2020 and the clearest sign yet that the housing market is cooling rapidly, data from mortgage lender Nationwide showed on Thursday. In annual terms, house price growth slowed to 4.4% in November from 7.2% in October, Nationwide said. Other gauges of house prices have also pointed to a slowdown underway. "While financial market conditions have stabilised, interest rates for new mortgages remain elevated and the market has lost a significant degree of momentum," Nationwide chief economist Robert Gardner said. A Reuters poll of economists and property market analysts last week forecast house prices would drop around 5% next year, having risen about 24% since early 2020, according to official data.
☆ UK house prices fall after 'mini-budget' turmoil - Nationwide
  + stars: | 2022-11-01 | by ( David Milliken | ) www.reuters.com   time to read: +2 min
[1/3] An estate agent's board is displayed outside a house on a terraced street in Blackburn, Britain, January 17, 2022. REUTERS/Phil NobleLONDON, Nov 1 (Reuters) - British house prices recorded their first monthly fall since July 2021 last month, mortgage lender Nationwide said on Tuesday, after the market was hit by turmoil during Prime Minister Liz Truss's short-lived premiership. Nationwide Building Society said house prices dropped 0.9% in October after being unchanged in September, while they are 7.2% higher than a year earlier, slowing from September's annual increase of 9.5%. "The market has undoubtedly been impacted by the turmoil following the mini-Budget, which led to a sharp rise in market interest rates," Nationwide chief economist Robert Gardner said. The monthly fall in house prices was the largest since June 2020, when the market was crimped by initial COVID-19 pandemic restrictions, while the annual rise was the weakest since April 2021.
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