UK Housing Price and Market Update for February 2020
Average Price Paid
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.