UK house prices rose at a much slower than expected pace at the start of the year, and prices fell from the previous month, results of the Nationwide survey showed, as buyer demand was damped by the prospect of reduced real earnings and higher mortgage rates as many households reel under the pressure of the cost-of-living crisis that is the worst in several decades.
The house price index rose 1.1 percent year-on-year following a 2.8 percent increase in December, survey results from the Nationwide Building Society showed Wednesday. Economists had forecast a 1.9 percent gain.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.