UK Housing Price and Market Update for November 2019
Monthly Change
+ 0.5%
Quarterly Change
+ 0.3%
Annual Change
+ 0.8%
Average Price Paid
£215,734
Annual price growth remained below 1% for the twelfth consecutive month.
At +0.8% annual price change, November provided the strongest growth since April.
Household spending has proven resilient given weaker global economic growth, whilst business spending has slowed.
The UK general election taking place in the coming weeks is not expected to have any significant impact on house prices. When compared to previous general elections, existing trends within the housing market have remained dominant over effects caused by the political calendar.
Based on a similar trend analysis, mortgage approvals also appear to be, on the whole, unaffected by general elections.
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.