Some Confusion over the state of the housing market in England.
This is not really news, after all anyone actually involved in either buying or refinancing property recently will instinctively know that the situation has not improved (or got worse) in the last few months.
It’s to early to say whether the governments latest attempts to kick start the property market is going to have an effect. One can only hope!
Under a headline that “UK house prices surprisingly resilient” the BBC are reporting that..
UK house prices have remained “surprisingly resilient” in recent months, with values rising again in November, the Nationwide has said.
It said the average home rose in value by 0.4% in November to £165,798.
This was a 1.6% year-on-year increase, according to the figures based on Nationwide’s own mortgage data.
The full story is here and it goes on to explain that mortgage approvals are also on the up.
However, the land registry figures are telling a different story:
- They show that the average price of a home in England is £159,999
- This is a monthly change downwards -0.9%
- Annual equivalent -3.2%
You can read the full land registry report here, but the overall message appears to be that whether house prices are going up or down the change is not really significant enough to be overly concerned.