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Nationwide House Price Index July 2019

Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:

“The data released by the Nationwide today suggests that average value growth, whilst not significant at a headline level, remained consistent on an annual basis and edged up slightly against May. Whilst this in itself isn’t particularly noteworthy – although an encouraging sign of stability - the regionally divergent picture is more dynamic.

"We’re still seeing a ‘two-tier’ market with London and the South East suffering from lack of confidence, which has led to a softening again in June of prices. Elsewhere, in Wales, the North West, Yorkshire & Humberside, East Midlands and the West Midlands, life would appear to be carrying on pretty much as normal, with average increases in values substantially higher than in the capital and its commuter belt. At the moment, Stamp Duty continues to create a drag effect in many regions but should Boris Johnson succeed in his bid to become PM and make good on his reported promise to implement a wide-reaching overhaul to this particular area of taxation, it’s possible to suggest that we may see demand and activity levels increase as a consequence.”

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