“Nationwide registers fifth consecutive month of house price growth below 1%”
Managing Director of One77 Mortgages, Alastair McKee, commented:
“While annual house price growth remains below one per cent for the fifth month in a row there has been positive movement in the rate of growth so far this year, and it’s likely that we will see an end to this negative trend come May’s index.
Despite the large financial barriers, it’s buyer and seller indecision that continues to stifle the wider market rather than the initial cost of buying. However, it is extremely encouraging to see the charge against this being led by the affordability of mortgage products and our first-time buyers, in particular.”
Director of Benham and Reeves, Marc von Grundherr, commented:
“Given the previous years of outstanding house price growth, we could be forgiven for thinking that anything below the one per cent mark where the annual rate is concerned, is entering life support territory.
This simply isn’t the case and while the rate of price growth has paused for breath, it remains within easy reach of wider targets for the year as we enter just the second quarter.
Without the sufficient market fuel of buyer demand and replenished stock levels the market may struggle to make it out of second gear, however, it’s likely that we will see conditions accelerate through the spring and summer seasons with some more positive growth levels registered despite the continued uncertainty of Brexit.”