Nationwide HPI for February

In it’s monthly House Price Index (HPI) report, the Nationwide reported house prices increased by 0.3% in February, no change from the previous month, a slight acceleration in annual house price growth to 4.8%.

Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist said:

“UK house price growth remained steady in February, with prices increasing by 0.3% during the month, unchanged from January’s reading.

“Annual house price growth has remained in a fairly narrow range between 3% and 5% since the summer of 2015. This trend was also maintained in February, with house prices up 4.8% over the year, a slight pickup from the 4.4% increase recorded in January.

“The number of mortgages approved for house purchase increased sharply in January to almost 75,000, up from around 71,000 approvals in December and the highest number since January 2014.

“However, much of the increase is likely to be related to the impending increase in Stamp Duty on second homes which is due to take effect in April 2016. This is likely to have brought forward a significant number of purchases, which in turn will probably result in a fall back in approvals during the spring/summer.

“Looking through this volatility we expect the underlying pace of activity to increase in the quarters ahead as improving labour market conditions and low borrowing costs provide ongoing support”.

Read the Nationwide HPI report in full click here

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Tips on Getting the Best of Costa Del Sol Property Market

There are a variety of reasons why you would want to buy a property in another country. Perhaps you’ve discovered the ideal holiday resort and are looking for a permanent location to store your belongings. Perhaps you like the thought of spending your senior years somewhere warm and bright. The mild climate throughout the year,…
Read More
Breaking News

WEEKLY NEWS ROUNDUP – 24/06/2022

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of Contents Renter’s Reform: The biggest upheaval in private renting since the 2004 Housing Act Most Homeowners Overly Optimistic About Property Value, According to Figures Property Market: Boom or bust, does it matter? There is a bigger threat to…
Read More
Mark Hayward
Breaking News

New Property Podcast launched with Mark Hayward: ‘The Residential Expert’

New podcast to discuss the latest property industry news and predictions, as well as advice for agents. New podcast to discuss the latest property industry news and predictions, as well as advice for agents. It will feature previous Propertymark CEO, Mark Hayward, and is hosted by home setup service, Just Move In. Episodes will be…
Read More
Quick ways to add value to your property
Estate Agent Talk

6 Ways to Avoid Common Rental Scams

The rental market is incredibly competitive right now. There’s limited rental inventory, and people are clamoring to find places all over the country. Unfortunately, along with this increased demand and high level of competition among renters also comes an uptick in scams. Unscrupulous people are taking advantage of desperate renters, so what can you do…
Read More
Breaking News

BREAKING PROPERTY NEWS – 23/06/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   Proptech fu3e. secures £3.5 million investment from Gresham House Ventures Gresham House Ventures, a growth equity investor specialising in software and digitally-driven businesses in the consumer, healthcare, and service sectors, has made a £3.5mn investment in fu3e., an adaptive management reporting software platform for…
Read More
the value of trees in your garden
Home and Living

How much Value does a Tree add to your Home?

For those of us lucky to have a garden(s) or even a large parcel of land with our property then what it contains can have a big effect on the overall value. Outside of what we can build, mature plants, especially trees, can offer a big persuasion with potential buyers and increase value of real…
Read More