Price of money bites, says Nationwide

The lender’s figures suggest prices gained nationally by just 0.3% in January, the slowest rise in eight months, meaning the average home now costs £173,225. And the moderation may yet become more effective, as Nationwide still expects another 25 basis points rise in the Bank of England’s base rate later this Spring. Annualised inflation has dropped into single digits – 9.3% - from 10.5% recorded in December. New buyer inquiries dropped for the fist time in 19 months, and the 129,000 approvals in November is being described as a ‘peak’ as demand becomes strained by worsening affordabili...