December 2019 House Price Update
UK Housing Price and Market Update for December 2019
Average Price Paid
House prices in December 2019 ended 1.4% higher than in December 2018. December 2019 being the first month in the year that growth was above 1%.
Number of mortgages approved has remained fairly stable over the past 24 months.
Tracking the indicators UK economy in 2019 showed that activity remained volatile throughout the year with the slowing underlying pace of growth resulting from Brexit uncertainty and weaker global economic climate.
The economy is expected to continue to expand modestly in 2020 and house prices to remain broadly flat over the coming twelve months.
Raising deposits continues to be challenging for most prospective first time buyers with an average 20% deposit being equivalent to the average gross income of this market.
Source of UK Property Price Data ‘Annual Change’, ‘Quarterly Change’, ‘Monthly Change’, ‘Average Price’ and ‘Average Mortgage Rates’ - Nationwide House Price Index.
Please note that the use of the above information and commentary is subject to both the Nationwide Legal Terms (https://www.nationwide.co.uk/about/house-price-index/headlines) and also where applicable, the Terms and Conditions found on our website www.resonateproperty.co.uk.