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Nationwide House Price Index May 2019

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

“The data released by the Nationwide today suggests a subdued level of growth, both month on month and year on year. However, with average values remaining broadly stable, this at least suggests that the market is holding its own throughout the current continued period of political turbulence.

"One positive element noted in the Nationwide report this morning is that with prices plateauing of late, more First Time Buyers have been able to take advantage of near record low rates in order to get a foot-hold on the property ladder. Of course, affordability challenges in London and the South East are clearly still prevalent, but it would appear that around the rest of the UK at least, the current conditions seem to be sustainable. This is, of course, mildly encouraging as stimulus at entry level normally provides support for the rest of the market in the longer term. In the meantime, however, the benign lending climate continues, meaning that those who are either moving home or remortgaging this Spring are able to take advantage of the continuing ultra-competitive climate between lenders.”

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