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February 2020 House Price Update

UK Housing Price and Market Update for February 2020


Monthly Change

+ 0.3%


Quarterly Change

+ 1.0%


Annual Change

+ 2.3%


Average Price Paid

£216,092


  • The annual 2.3% uplift in February 2020 was the strongest growth since July 2018.

  • Low borrowing costs and good labour market conditions combined with definitive election results seem to boost buyer confidence.

  • The housing market has gathered momentum in recent months with reports of an increase in new buyer enquiries.

  • Surveys of business indicate that economic activity recovered in the New Year but uncertainty remains and may threaten growth in the coming months.

  • The outbreak of Coronavirus is expected to weigh on global activity in the coming months.

  • Investments are likely to remain restrained until the UK's future trading relationships gain clarity.

  • Property wealth remains the second highest source of net household wealth (based on Apr 16 - Mar 18 figures), behind private pensions.

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.

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