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UK Nationwide House Prices (March 2024)

The 0.2% m/m fall in the Nationwide house price index in March (consensus: +0.3%, CE: +0.2%) suggested that the rise in mortgage rates since the turn of the year has caused house prices to stall. That tallies with weaker demand and increasing supply in the February RICS survey, and a rise in the average quoted mortgage rate from 4.6% in January and February to a likely 4.9% in March (CE estimate).

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