Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:
"For all the politically charged headlines, this morning’s figures released by the Nationwide indicate what many in the industry have been saying for the past couple of years; demand for residential property is still very much in evidence, and those who want to buy are doing so, regardless of the Brexit imbroglio. There are regions around the UK, such as the Midlands, Wales, Yorkshire and the Humber and Scotland, where average prices have increased at significantly above the national average, due to buyer confidence levels remaining buoyant. It’s possible to suggest that, in areas where the market has been more subdued, the trinity of current robust fundamentals – high employment, low Bank of England Bank Rate and highly competitive lending climate – may provide market support for the green shoots of a refreshed Spring market in the first quarter of 2020 once the current political turbulence has subsided.”
Read the full report here.
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