UK house prices declined the most since 2009 in May, and mortgage approvals and lending dropped in April, indicating deterioration in the housing market activity amid the rising interest rates.
The house price index slid 3.4 percent from a year ago, marking the biggest fall since 2009, the Nationwide Building Society reported Thursday. The drop followed a 2.7 percent decrease in April.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.