Nationwide’s latest data mirrors the trends reported by Savills, showing a cooling property market. Annual house price growth slowed significantly to 1.7% in May, down from 3% in April, alongside a 0.6% month-on-month dip.
While this slip is entirely expected given the recent pressure from mortgage rates, experts aren't sounding the alarm just yet. According to Nationwide’s chief economist, if the current economic shock passes quickly, this market softening is likely to be "short-lived."
