Nationwide shows political uncertainty still haunting the UK property market.
The latest Nationwide House Price Index shows house prices are up 0.2% on a monthly basis and just 0.4% annually.
Founder and CEO of Springbok Properties, Shepherd Ncube, commented:
“Much like the walking dead, the UK property market continues to plod on through the thick fog of Brexit uncertainty, showing little signs of resurrection to former levels. However, like a proverbial Michael Myers of Halloween movie notoriety, it is still refusing to actually die and while current price growth may seem insignificant, we are still in a better position than we were this time last year.”
Director of Benham and Reeves, Marc von Grundherr, commented:
“While the black cat of Brexit uncertainty continues to cross the path of UK home sellers a chill in the rate of house price growth is to be expected. We’ve seen yet more spells of uncertainty cast across the property landscape of late and this, coupled with a seasonal slowdown in the lead up to Christmas, will do little to bring a spark back to the market this side of the New Year.
However, much like Frankenstein’s Monster, we will see the UK property market rise once again and once the shackles of political indecision are broken, a return to form will be inevitable.”