Nationwide warns of slowing market

16th February 2018

Nationwide has revealed that it has seen a dip in mortgage lending and warns that the housing market is showing signs of slowing down. The building society saw £4.7bn of net lending to home buyers in the fourth quarter of 2017, a 43% decline on the £8.2bn lent in Q4 2016. Nationwide chief executive Joe Garner said he expected house prices to be “broadly flat in 2018” or show “a marginal gain of around 1%”. He added: “Modest economic growth is also likely to hold back the housing market and house price growth”.

The Daily Telegraph (09/02/2018)