Latest UK-focused news and updates.
In a surprising turn of events, average house prices in the UK increased by 0.4% in April, despite ongoing economic uncertainties. This uptick comes as NatWest Bank prepares for a potential economic slowdown, setting aside £140 million in anticipation of challenges stemming from geopolitical tensions, particularly the ongoing conflict in Iran.
NatWest reported profits that exceeded expectations but also acknowledged a £283 million impairment charge. Nearly half of this charge is attributed to a revised economic forecast that reflects heightened geopolitical risks and weaker equity markets. The bank has adjusted its expectations for UK GDP growth to just 0.4% for the year, significantly lower than the 0.8% forecast provided by the International Monetary Fund earlier this month.
Meanwhile, oil prices continue to rise, with Brent crude reaching $111.58 per barrel, as tensions between the US and Iran show no signs of easing. Iran's Supreme Leader has reiterated the country’s commitment to maintaining its missile and nuclear capabilities, further complicating the geopolitical landscape.
As the UK navigates these economic challenges, the housing market's unexpected resilience may provide a glimmer of hope for homeowners and investors alike.
Source: www.theguardian.com – https://www.theguardian.com/business/live/2026/may/01/uk-house-prices-natwest-profits-iran-war-oil-price-trump-bank-of-england-ftse-100-business-live