Nationwide House Price Index – Thoughts from the Industry
Latest data from Nationwide showing property prices have risen by 3.9%, here are some thoughts from the industry.
Nathan Emerson, CEO of Propertymark:
“Year on year it is positive to see progression within the housing market, and it is encouraging to see momentum continue as we head further into 2025. There are still aspects to be mindful of, however, such as how inflation could influence future base rate decisions and what effect on affordably that could have.
“With inflation now sitting at 3 per cent, which is above the Bank of England’s initially targeted level, we could see it becoming potentially more challenging for people to approach the buying and selling process should this translate into higher interest rates as a result.”
Daniel Austin, CEO and co-founder at ASK Partners:
“Despite a rise in house prices, we believe that growth is likely to face pressure and remain steady, as higher borrowing costs start to affect buyers, despite the market’s continued resilience. Investors and developers in the residential sector remain motivated by the supply demand imbalance and under the new government, we think there will be more projects that get off the ground. We are seeing a greater variety of housing options, such as co-living schemes, coming to market which fulfil the growing requirements of younger professional buyers. If prices flatten and interest rates start to fall, we will see more first-time buyers able to step onto the property ladder.”
You May Also Enjoy
Could the Autumn Budget dent property values?
Westminster Debate Highlights Urgent Need to Tackle Rogue Builders
Ombudsman welcomes Renters’ Rights Act implementation roadmap
New Legislation is Set to Reshape the Property Industry
Don’t let the silent killer into your home: Carbon Monoxide Awareness Week
