Nationwide House Price Index
Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:
“The report released by the Nationwide this morning suggests a very modest level of growth, both month on month and year on year. However, whilst the annualised figure is barely enough to shift the dial, it still indicates that prices have remained consistent, which one might perhaps suggest is a positive given the Brexit-related headlines over the past month.
The solid foundation is all there – employment growth, stronger wage growth and a benign borrowing climate. Indeed, over the past few months reports from our network would indicate that some areas of the country don’t appear to have felt such a drag on the market as the topline figures may imply, with the East and West Midlands, Yorkshire and Wales all seemingly continually busy. Therefore, one might suggest that, in areas where the market has perhaps been more subdued of late, once there is clarity around the current political situation, the raft of competitive rates available from lenders may provide support for any pent-up demand.”
Source: Mortgage Advice Bureau