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Annual house price growth slowed in November – Nationwide Building Society
Annual house price growth slowed to 1.8% in November with average UK property value at £272,998 as mortgage approvals stay near pre-pandemic levels, Nationwide said.
- Nationwide Building Society reported average annual house price growth slowed to 1.8% from 2.4%, while month-on-month prices rose 0.3% and the typical UK property value reached £272,998.
- Pre-Budget uncertainty prompted a rise in homes on the market compared with last year, increasing buyer choice and keeping mortgage approvals stable in recent months, Nationwide Building Society said.
- The Bank of England is expected to lower rates into next year with the base rate bottoming at around 3.25%, and falling swap rates have reduced fixed mortgage pricing, helping lenders and buyers.
- Buyers who paused moving plans may now return, with some estate agents hoping for a `Boxing Day bounce`, while lenders have remained keen to lend with funds available.
- Rental supply has been constrained for some time, sustaining rental growth at record highs, and the Government announced a high-value council tax surcharge on homes above £2 million from April 2028, affecting under 1% nationally and 3% in London.
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North Wales Chronicle+6 Reposted by 6 other sources
Annual house price growth slowed in November – Nationwide Building Society
The increase in taxes on income from properties may dampen the supply of new rental properties coming onto the market, the society said.
·Wales, United Kingdom
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MoneyWeekMarket set for post-Budget reset as house price growth slows in November – Nationwide
Annual house price growth slowed to 1.8% in November, compared to a yearly increase of 2.4% previously, with average values at £272,998. The post Market set for post-Budget reset as house price growth slows in November – Nationwide appeared first on Mortgage Solutions.
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Total News Sources12
Leaning Left2Leaning Right0Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 40%
C 60%
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