Housing in Britain has fallen in price for the first time in 17 months

The UK’s biggest construction investment company Nationwide recorded a first year monthly decline in housing values​​, with the result that the annual rate of house price growth fell to an eight-month low.

Nationwide said that the average price of housing in the UK fell by 0.2% in September. This is the first fall in 17 months after the rise in price by 0.8% in August.

Currently housing prices by 9.4% higher than a year earlier. This is the smallest increase since February and a decline compared with the August 11%.

According to Nationwide, the average price for a house in Britain is 189.306 thousand. £ nsa.

The annual growth rate of housing prices are still lower than 11.8% recorded in June, but still “a large margin exceeds revenue growth,” said economist Robert Gardner Nationwide. Average wage growth in recent months was 1%, he added.

“However, at the national level, housing does not seem out of reach, partly because of the low mortgage rates,” – he said.

The Association of British Chambers of Commerce (British Chambers of Commerce, BCC) raised its forecast for UK GDP growth in 2014-2015., Writes MarketWatch.

The rise of the British economy in the current year will be 3.2% versus 3.1% previously claimed, analysts say.