Slowing house price growth is sign of a cooling economy, warns Nationwide

Slowing house price growth is sign of a cooling economy, warns Nationwide

 · Billionaire developer Harry Triguboff warns apartment downturn could destroy ‘an enormous amount of wealth’. Triguboff, owner of the Meriton apartment empire with 8000 units in Australia’s major cities, says prices are down 10% over the past six months and sales have dropped, according to a report in The Australian.

The average price of a home in the UK is now 211,6712 – up slightly on last month but with growth slowing, according to data from the Nationwide. The annual pace of house price growth moderated to 2.1 per cent in August, from 2.9 per cent in July. The slowdown in house price growth to the 2.0 to 3.

Estate agent warns on slowing house price growth. The housing slowdown has been most acutely felt in London, where 6.2 per cent growth last year is expected by Countrywide to be followed by flat prices in 2017. In the most expensive "prime central" areas, where a dip in prices has been underway for two years, the company predicts a 2 per cent rise in prices this year.

"The relative stability in the rate of house price growth suggests that the softening in housing demand evident in recent months has been broadly matched on the supply side of the market," said Robert Gardner, Nationwide’s chief economist.

 · The biggest gains are expected for houses, with QBE forecasting the Brisbane median house price to record cumulative growth of 11% by June 2021 and reach $615,000. Real estate agent Lisa Terare believes the negative growth and falling values forecast for Sydney and Melbourne in 2019 will hopefully benefit the Brisbane market.

 · Chinese growth fell to a post-global crisis low of 6.5 percent in the quarter ending in september. auto sales tumbled 16 percent in November over a.

Nationwide reported that the annual fall in house prices showed a decline for 2.9% in July to 2.1% in August, [.] Home Sales: The latest figures from the Nationwide Building Society show that house prices began to slow down in August as further evidence of a wider cooling trend along with the economy as a whole.

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"The slowdown in house price growth to the 2 to 3% range in recent months from the 4 to 5% prevailing in 2016 is consistent with signs of cooling in the housing market and the wider economy," he.

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One factor weakening demand for real estate is subdued employment growth in the UAE, particularly among white-collar workers who might buy homes. Most jobs in the wealthy oil-exporting country are.

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