April saw a 0.5 percent rise in house prices in Britain, in the first surge since August 2022.
However, financial experts have argued that Britons should expect a “fairly pedestrian” upturn in the housing market, if any, owing to the ongoing imbalance between low wages and rising inflation.
Nationwide Building Society, a British mutual financial institution, reported on May 2 that the annual rate of house price growth has improved to -2.7 percent from -3.1 percent in March.
Commenting on the figures, Nationwide’s Chief Economist Robert Gardner said: “While annual house price growth remained negative in April at -2.7 percent, there were tentative signs of a recovery with prices rising by 0.5 percent during the month (after taking account of seasonal effects). April’s monthly increase follows seven consecutive declines and leaves prices 4 percent below their August 2022 peak.”…