UK house prices at risk, warns Nationwide boss > 자유게시판

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House prices are at risk as spending power is set to take a big hit, the boss of Nationwide Building Society has warned. 
Joe Garner said higher prices and interest rates, together with steep rises in the cost of living, mean buying a home will be tougher. 
He said: 'Higher inflation, blacksprut2rprrt3aoigwh7zftiprzqyqynzz2eiimmwmykw7wkpyad.onion which has been exacerbated by the war in Ukraine, is likely to exert a significant drag on the economy in the near term. 
'It will place significant pressure on household budgets, especially for those on lower incomes who also accumulated fewer savings during Covid-related lockdowns.' 
Pressure: Joe Garner said higher prices and interest rates, together with steep rises in the cost of living, mean buying a home will be tougher
He added that that could also result in a fall in house prices.

His remarks came as the UK's biggest mutual reported a near-doubling of annual profits on the back of buoyant mortgage demand. 
Despite unemployment hitting a record low this week, surging costs are piling pressure on people's pockets, leaving buyers with less cash to save for a deposit. 
Victoria Scholar, head of investment at Interactive Investor, said the uncertain outlook meant new Nationwide boss Debbie Crosbie, who is taking over from Garner in June, had a 'difficult task on her hands' as it braced for 'a series of headwinds: the cost-of-living crisis, spiraling inflation, a peaking housing market and the deteriorating economic outlook.'
RELATED ARTICLES Share this article Share HOW THIS IS MONEY CAN HELP The bleak outlook overshadowed Nationwide's record results - a profit of £1.6billion for the year to April 4, more than double the £790million of the previous year. 
The surge was attributed to a strong rise in income from interest on mortgages taken out early in the pandemic.

Mortgage lending increased to £36.5billion from £29.6billion in the year, allowing it to capture a bigger market share. 
Activity in the housing market is higher than pre-pandemic levels, with prices having increased at double-digit rates so far in 2022. 

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