July 2019 House Price Update
UK Housing Price and Market Update for July 2019
Average Price Paid
Price growth remained below 1% for the eight consecutive month.
Fewer transactions overall and fewer properties available for sale reduced
First time buyer transactions have recovered thanks to improved labour market, credit availability and low lending rates which continue to underpin market performance.
We are also seeing a steady increase in under-occupation (properties with two or more empty bedrooms), which has been supported by the decline of younger home-owners. This decline is also impacting home-mover activity, as younger households tend to move more frequently than older households.
We are seeing weak home-mover activity; less than half of the numbers in 2007.
The slow-down trend is apparent looking at quarterly price (%) changes.
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.