Nationwide: UK house prices up for seventh straight month

| 1 December 2009 16:30

House prices in Britain rose another 0.5% in November, putting them up 2.7% year-on-year. This is the seventh consecutive month of gains. All of the charts are looking spectacularly good. The only fly in the ointment is employment.  Let’s see what the Halifax says in a few days because their numbers have not been as upbeat as Nationwide’s.

uk-house-prices-2009-11

I like the British habit of calling house price gains “house price inflation.” It’s a hold over from the retail price index days when house prices were included in the standard measure of inflation. But given the unsustainability of the rise in asset prices of late, it seems fitting to look at this as a tax (inflation) instead of increases in wealth (gains).

Source

House Prices Edge Up Further In November – Nationwide

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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