Home prices rose in January, before the Iran War pushed mortgage rates higher

TL;DR

UK Home Prices in Fastest Rise Since 2024, Nationwide Says UK house prices rise 0.9% in March, Nationwide data shows UK house prices increased at the fastest rate in almost 18 months in March, although surging mortgage rates amid the Iran war is likely to lead to a slowdown in the market, according to Nationwide. The UK’s biggest building society said the price of a typical UK home increased by 0.9% month-on-month in March, the largest increase since December 2024. However, Nationwide warned that the US-Israeli war on Iran has “clouded the outlook”, with financial markets expecting the Bank of England’s monetary policy committee to raise the base rate three times over the next 12 months from 3.75%.