{"id":80790,"date":"2023-03-01T16:04:24","date_gmt":"2023-03-01T12:04:24","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=80790"},"modified":"2023-03-01T16:04:27","modified_gmt":"2023-03-01T12:04:27","slug":"uk-house-prices-fall-by-most-since-2012-mortgage-approvals-drop","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/uk-house-prices-fall-by-most-since-2012-mortgage-approvals-drop\/03\/01\/market-updates\/","title":{"rendered":"UK house prices fall by most since 2012, mortgage approvals drop"},"content":{"rendered":"\n<p>British house prices last month dropped by the most in more than 10 years, mortgage lender Nationwide said on Wednesday, adding to signs of a slowdown in the housing market in the face of high inflation and rising borrowing costs.<\/p>\n\n\n\n<p>The 1.1% fall was the biggest year-on-year drop since November 2012 and also the first annual decrease since June 2020, early in the coronavirus pandemic, when prices edged down by 0.1%, Nationwide said.<\/p>\n\n\n\n<p>Separate Bank of England data showed British lenders approved the\u00a0lowest number of mortgages\u00a0in January since 2009, excluding a slump at the start of the COVID-19 pandemic.<\/p>\n\n\n\n<p>Analysts in a\u00a0Reuters poll\u00a0published on Tuesday expect house prices to fall by 2.4% in 2023, less than previously as a resilient job market and easing recession fears soften the blow of higher borrowing costs.<\/p>\n\n\n\n<p>Nationwide said that compared with January, prices were down by 0.5% for the sixth month-on-month fall in a row, the longest such run since one beginning in 2007 and ending in 2009, during the global financial crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British house prices last month dropped by the most in more than 10 years, mortgage lender Nationwide said on Wednesday, adding to signs of a slowdown in the housing market in the face of high inflation and rising borrowing costs. The 1.1% fall was the biggest year-on-year drop since November 2012 and also the first &hellip;<\/p>\n","protected":false},"author":9,"featured_media":32522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6940,6835],"class_list":["post-80790","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-house-prices","tag-uk"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80790"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80790\/revisions"}],"predecessor-version":[{"id":80791,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80790\/revisions\/80791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32522"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}