Geopolitical tensions fail to suppress housing prices as UK home prices unexpectedly rise in April

Golden Ten Data reported on May 1 that UK mortgage lender Nationwide stated on Friday that, despite the Middle East conflict impacting consumer confidence, UK house prices unexpectedly rose by 0.4% in April and grew 3.0% year-on-year. Economists surveyed by Reuters had previously expected house prices in April to fall by 0.3% month-on-month, with an annual increase of 2.2%. Since the outbreak of the Iran war at the end of February, UK mortgage rates have risen and consumer confidence has dropped to the lowest level since 2023. Property surveyors reported weaker buyer demand in March and the most widespread decline in house prices since January 2024.