CORRECTED-(OFFICIAL)-UPDATE 1-UK house price growth cools in early 2019, outlook subdued -Halifax

By Kitco News / April 05, 2019 / www.kitco.com / Article Link

(Corrects headline and story to show annual house price growthslowed to 2.6 percent, rather than accelerated to 3.2 percent,after data provider Halifax published erroneous figures)LONDON, April 5 (Reuters) - British house price growthcooled in the first three months of 2019 in annual terms and theoutlook is likely to remain subdued, given Brexit uncertaintyand high property prices, mortgage lender Halifax said onFriday.Compared with the same period of last year, prices rose by2.6 percent, slower than a rise of 2.8 percent in the threemonths to February.A Reuters poll of economists had pointed to an annual riseof 2.3 percent for the first quarter.Last week, data from rival mortgage lender Nationwide showedhouse prices picked up a bit of speed. But Britain's housing market remains weak, especially inLondon, as Prime Minister Theresa May struggles to find a way toleave the European Union with a transition deal to cushion theshock to the economy.Shortly before the Brexit referendum in 2016, house priceswere rising by about 10 percent a year, according to Halifax.The lender said that prices in March, in monthly terms, fellby 1.6 percent after jumping by 6.0 percent in February.Halifax's index has tended to be more volatile than othermeasures of house prices of late. (Writing by William SchombergEditing by David Goodman and Angus MacSwan)

Reuters Messaging: william.schomberg.reuters.com@reuters.net)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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