November annual house price growth remains the same as October at 2.5% according to Nationwide HPI
The latest Nationwide House Price Index report released today headlines ‘Annual house price growth steady in November’.
The report reveals that annual house price growth remains stable at 2.5%, the same rate as in October 2017. A modest 0.1% month-on-month increase which is down from 0.2% in the previous month.
The changes in stamp duty announced in the Autumn Budget is likely to have only a modest impact on overall demand in many regions according to Nationwide.
Commenting on the figures, Robert Gardner,Nationwide’s Chief Economist said: “The annual rate of house price growth remained stable in November at 2.5%.Nevertheless, annual growth remains within the 2-4% range that has prevailed since March. Low mortgage rates and healthy rates of employment growth are providing support for demand, but this is being partly offset by pressure on household incomes, which appears to be weighing on confidence. The lack of homes on the market is providing support to house prices. more….
Read the Nationwide House Price Index report November 2017 in full click here.