A worker uses a stair at a construction site in central London, Britain November 2, 2016. REUTERS/Stefan Wermuth
LONDON (Reuters) – British house prices took a pre-Brexit hit in December, falling by the most in monthly terms since mid-2012 and rising by their slowest pace in nearly six years in annual terms, according to data from mortgage lender Nationwide.
House prices fell by 0.7 percent from November, the biggest monthly fall since July 2012, Friday’s data showed.
Compared with a year earlier, prices rose by just 0.5 percent compared with a 1.9 percent rise in November.
Both readings were below all forecasts in a Reuters poll of economists.
Nationwide said it expected prices to rise at a “low single-digit pace” in 2019 but its forecast was dependent on the economy continuing to grow modestly, something that looked “unusually