The UK housing market demonstrated resilience in May, with average house prices increasing by 0.5%, which countered a previous decline of 0.6% in April. The current average home price is £273,427. Nationwide's chief economist stated that despite global economic uncertainties, favorable conditions for home buyers persist, including low unemployment, rising earnings, and strong household balance sheets. Meanwhile, trade tensions between the US and China are contributing to market volatility, raising concerns about critical supply chains, particularly affecting industrial sectors in various regions.
Despite wider economic uncertainties in the global economy, underlying conditions for potential home buyers in the UK remain supportive. Unemployment remains low, and earnings are rising.
What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does.
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