House Price Growth Slows As End To Stamp Duty Holiday Looms

 UK house price growth slowed in September as economists said the looming end of the stamp duty tax break had cooled the market after a period of extraordinary growth. The average price grew by just 0.1% over the month to £248,742, a sharp slowdown compared with growth of 2% in August, according to Nationwide. The UK’s largest building society said annual house price growth fell back to 10%, down from 11% in August. That was down from annual growth of more than 13% as recently as June, the fastest since the property boom in 2004. Read more on the Guardian website.

https://www.theguardian.com/business/2021/sep/30/uk-house-price-growth-slows-as-end-to-stamp-duty-holiday-looms

House Price Rises Accelerate

UK house prices accelerated in August, the Nationwide has said, with values now 13% higher than before the pandemic. The building society said that annual house price growth sped up, to 11%, with the average home costing £248,857. It said property prices recorded their second largest month-on-month rise in 15 years, up by 2.1%. The Nationwide said the increase was "surprising", given that the benefit from stamp duty holidays was reduced. Read more on the BBC website.

https://www.bbc.co.uk/news/business-58399869 

Higher Energy Efficiency Has Only ‘Modest’ Influence On House Prices

The house price premium for a property with a higher energy rating – A or B – is just 1.7% compared to a D-rated home, new research from Nationwide shows. At the other end of the scale, houses rated F or G run with a 3.5% discount over a D-rated property, the lender’s report adds. These values are likely to change over time, however, especially if the government takes measures to incentivise greater energy efficiency in future to help ensure the UK meets its climate change obligations.  Regulation means that socially rented houses have the highest energy efficiency ratings, followed by privately rented stock. Read more on the Mortgage Strategy website.

https://www.mortgagestrategy.co.uk/news/higher-energy-efficiency-has-only-modest-influence-on-house-prices/ 

Covid Sharpens Inequalities In UK Housing Market

Figures from building society Nationwide show one in four private renters think the pandemic has made it more difficult for them to buy a home. Sharp rises in house prices over the last year, driven by demand being stoked by the stamp duty holiday and prospective homebuyers rushing to snap up larger properties with gardens, has reduced housing affordability for first-time-buyers. Research from property search site Rightmove shows house prices jumped 5.7 per cent annually in July to reach a record high. Read more on the City AM website.

https://www.cityam.com/covid-sharpens-inequalities-in-uk-housing-market/

House Prices Rise At Fastest Pace In 17 Years

UK house prices rose 13.4% in the year to June, the fastest pace since November 2004, the Nationwide has said. The building society said the average house price increased to £245,432 from £216,403 in June 2020. The Nationwide bases the findings on its own mortgage data. It said while the rapid annual growth was partly due to prices being "unusually weak" during the first lockdown last year, the market continued to "show significant momentum". Read more on the BBC website.

House prices rise at fastest pace in 17 years - BBC News

House Prices Rise As End Of Stamp Duty Holiday Nears

UK house prices bounced back in February despite the imminent end of the stamp duty holiday, fuelled by changing housing preferences in the Covid-19 pandemic, and some buyers betting that the tax saving will be extended. The average price of a home rose by 0.7% to £231,068, the highest on record, more than reversing January’s 0.2% drop, said Nationwide, Britain’s biggest building society. This took the annual growth rate to 6.9% from 6.4%. A shift to working from home and far less commuting during the pandemic has changed what people want in a property. Read more on the Guardian website.

https://www.theguardian.com/money/2021/mar/02/uk-house-prices-rise-stamp-duty-holiday-covid-19-pandemic 

House Price Growth Sees Surprise Rebound In February

Continued demand for housing, regardless of the stamp duty holiday, has seen a surprise rebound in annual house price growth, according to data released by Nationwide. The society's figures revealed that, during February, annual house price growth saw a rise to 6.9% from 6.4% in January - with house prices up 0.3% month-on-month, more than erasing the small decline seen in January. Nationwide say that the average price of a home now stands at £231,061 - the highest on record. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/house-price-growth-sees-surprise-rebound-in-february-to-69.html 

House Prices See Highest Growth In Six Years

UK house prices climbed 7.5% in 2020, the highest growth rate for six years, building society Nationwide found. Prices ended the year 5.3% above the level prevailing in March, a resilience that seemed unlikely at the start of the pandemic, it said. Housing demand has been buoyed by a raft of policy measures and changing preferences due to the pandemic. House prices were 0.8% higher in December than November, with the average property valued at £230,920. Read more on the BBC website.

https://www.bbc.co.uk/news/business-55483432

UK house prices rose by 5% in September compared with a year ago, the Nationwide says, as the property market saw post-lockdown demand continue. The annual rate of growth is the highest for four years, according to figures based on the Nationwide's lending data. The building society said activity had "recovered strongly" since coronavirus restrictions on viewings were lifted. But job fears ahead mean many young people have put moving plans on hold. Read more on the BBC website.

https://www.bbc.co.uk/news/business-54353406 

House Prices Hit All-Time High In August

The latest data and analysis from Nationwide has revealed that average UK house prices have continued to recover during August and saw the highest monthly rise in more than 16 years. According to the lender, annual house price growth picked up to 3.7% in August with prices up 2% month-on-month, after taking account of seasonal factors. August's increase was the highest since February 2004, when house prices rose by 2.7%. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/nationwide-house-prices-hit-all-time-high-in-august.html 

UK House Prices Fall Amid No-Deal Brexit Fears

House prices in Britain unexpectedly fell last month amid mounting fears over the impact of no-deal Brexit on the property market. According to the latest snapshot from the Nationwide building society, prices fell in September by 0.2%, pulling down the average price of a home to £215,352 from £216,096 in August. Economists polled by Reuters had forecast a 0.1% rise on the month. With just 30 days until Britain’s scheduled departure date from the EU with little sign of a breakthrough in the deadlock with Brussels, analysts said property buyers and sellers were delaying their decisions amid the uncertainty. Read more on the Guardian website.

https://www.theguardian.com/business/2019/oct/01/uk-house-pricesno-deal-brexit-nationwide-london

Young People And Renters ‘Shut Out’ Of The Planning System

Planning needs “new forms of decision making”, with the present system often dominated by those less supportive of new homes in their local area, a new report reveals. People Powered Planning, published by Demos and funded by Nationwide Building Society, finds that a minority of homeowners (42%) support new homes, compared to a majority of renters (60%). However, the majority of homeowners (56%) have engaged with the planning system, compared to a minority of renters (29%). Download the report from the Demos website.

https://demos.co.uk/wp-content/uploads/2019/09/People-Powered-Planning.pdf

Brexit Jitters Grind UK Housing Market To A Halt In August

Brexit uncertainty is still weighing heavily on the UK housing market, which ground to a halt in August, and it could take a heavier toll in the coming months, analysts say. Nationwide building society reported that house prices were flat in August as political and economic turbulence continued to take their toll. Average prices were in effect unchanged month on month once seasonal factors were taken into account, though the annual rate of property price growth nudged up to 0.6%, compared with 0.3% in July. Annual house price inflation has remained below 1% for nine consecutive months. The average UK house costs £216,096, according to Nationwide, £1,567 less than the figure a month ago. Read more o the Guardian website.

https://www.theguardian.com/money/2019/aug/30/brexit-housing-market-august-prices-nationwide

Annual House Price Growth ‘Remains Below 1%

Annual house price growth ran below 1% - at 0.3% - for the eighth month in a row in July amid signs that consumer confidence remains subdued, according to an index. Across the UK, the average house price in July stood at £217,663, the study from Nationwide Building Society found. Strikingly, house prices increased at the same rate of 0.3% on a monthly, quarterly and an annual basis in July. Read more on the Yahoo! Finance website.

https://uk.finance.yahoo.com/news/annual-house-price-growth-remains-071644000.html

Annual House Price Growth Remains Stagnant

Figures released by Nationwide have painted a rather gloomy picture of the UK housing market. After a largely inactive start to the year, annual house price growth crawled up by 0.4% in February. After taking account of seasonal factors, there was a marginal house price fall month on month. After almost grinding to a complete halt in January, annual house price growth remained subdued in February, with prices just 0.4% higher than the same time last year. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/annual-house-price-growth-remains-stagnant.html

London Housing Market In 'Prolonged Downturn'

London-focused estate agent Foxtons has swung to a loss and says the housing market in the capital is in a "prolonged downturn". The company reported a loss of £17.2m for last year, partly due to the costs of closing six offices. It made a profit of £6.5m in 2017. Foxtons added that Brexit uncertainty was "impacting consumer confidence". Separately, the Nationwide said the UK market remained "subdued", with prices up 0.4% in February from a year ago. Read more on the BBC website.

https://www.bbc.co.uk/news/business-47389160

'Subdued' Demand From House Buyers

Uncertainty in the economy, as well as a squeeze on household budgets, is keeping potential buyers out of the housing market, a lender has said. The Nationwide Building Society said that demand from buyers was "subdued" and unlikely to pick up soon. UK house prices had risen by 1.9% in the year to November, it said, with the average value of a home now at £214,044. Analysts said Brexit uncertainty was also making buyers cautious. The Nationwide said that the annual property prices increase had accelerated compared to the 1.6% rise in October, which had been a five-year low. Read more on the BBC website.

https://www.bbc.co.uk/news/business-46397730

Nationwide Calls For Extension Of Help To Buy Isa

Nationwide has called for the government to extend access to the Help To Buy Isa. There is now a year to go until the deadline for applying for a Help to Buy Isa. The accounts have been available since December 2015 and were designed to help first-time buyers save for a house deposit. The scheme closes to new applications on 30 November 2019. Each saver in the scheme can benefit from a government bonus of between £400 and £3,000. A saver would need to save a total of £12,000 to get the maximum bonus. Read more on the Mortgage Strategy website.

https://www.mortgagestrategy.co.uk/nationwide-calls-for-extension-of-help-to-buy-isa/

London House Prices Fall Again

House prices in London have fallen for the fifth quarter in a row as high prices, stamp duty changes and Brexit uncertainty put off buyers. The average price of a home in the capital fell by 0.7% in the third quarter, compared with the same period last year, to £468,544, according to Nationwide. It followed a 1.9% drop in prices in the second quarter. Despite the fall, London remains the most expensive place to buy a property by some margin, with average prices more than twice the national average of £216,103. Read more on the Guardian website.

https://www.theguardian.com/money/2018/oct/02/london-house-prices-stamp-duty-brexit

House Price Growth Settles At 2% In September

The latest data and analysis from Nationwide has revealed that the UK housing market saw a small uptick in house prices during September, rising 0.3% after being seasonally adjusted. According to the figures, house price growth has settled at 2%, partially recovering from the previous months crash. However, it wasn't good news for the whole of the country as The North was revealed to be the weakest performing area during Q3 with prices down 1.7% year on year.Read more on the propertyreporter website.

http://www.propertyreporter.co.uk/property/house-price-growth-settles-at-2-in-september.html