U.K. Home Builders Fall as September House Price Growth Cools to 0.8%
Dow Jones
Oct 01
0824 GMT - Shares in U.K. home builders fell after a report showed the country's annual house price growth halved in September. According to the Nationwide house price index, house price growth fell to 0.8% from 1.6% in August. This was the weakest rate of growth since last December, the index shows. The report says that this was due to the uncertain economic backdrop as well as the pressure stemming from the conflict in the Middle East, which affects energy prices and fans inflation concerns. "Activity should regain momentum in the quarters ahead providing the energy shock fades and confidence returns - especially if market interest rates fall back to pre-conflict levels," Nationwide says. MJ Gleeson is down 5.3%, with Vistry and Berkeley down 4%.
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