You are here: Home - Mortgages -

House prices remain static in August

0
Written by: Emma Lunn
30/08/2019
The average cost of a home in the UK stayed the same between July and August, according to Nationwide.

House prices were unchanged month-on-month while annual house price growth remained subdued at 0.6 per cent, according to the Nationwide house price index.

For the ninth consecutive month, annual house prices rose by less than 1 per cent in the year to August, creeping up to an average of £216,096.

Robert Gardner, Nationwide’s chief economist, said: “While house price growth has remained fairly stable, there have been mixed signals from the property market in recent months. Surveyors report that new buyer enquiries have increased a little, though key consumer confidence indicators remain subdued.

“Data on the number of property transactions points to a slowdown in activity, though the number of mortgages approved for house purchase has remained broadly stable.”

The news of house price stagnation comes as a no-deal Brexit looms and Boris Johnson confirmed his plans to suspend the UK parliament next month.

Dilpreet Bhagrath, mortgage expert at online mortgage broker Trussle, said: “For prospective buyers looking to take hold of the plateau in house prices but want to protect themselves against Brexit uncertainty it may be worth considering a fixed-rate deal. Knowing how much repayments will cost each month will give some piece of mind. However, it’s always important to consider any personal and future circumstances when securing a mortgage, and seek advice to ensure you’re aware of the options.”

Sam Mitchell, CEO of online estate agent Housesimple, said: “Gradual growth has been a reoccurring theme when it comes to house prices over the summer months, but we shouldn’t see this as a bad sign for the future. It’s rare to see big spikes in property prices during the warmer weather and the annual growth, albeit marginal, should still be seen in a positive light. Particularly amidst the uncertainty of our country’s current political position.

“Home movers will likely be looking to strike fast to complete deals before we leave the EU in the coming months. And buyers could follow suit – making faster decisions than usual. Who knows what will happen post Brexit but the worst thing people can do is sit on their hands and take the ‘wait and see’ approach.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • @YourMoneyUK All you need to know about the latest Current Account Switching winners and losers - hats off to Starl… https://t.co/fAyHhplpoP
  • RT @WeareJust_PR: Many people struggling to make ends meet may not realise they are entitled to financial help or find the system too confu…
  • RT @WeareJust_PR: Many people struggling to make ends meet may not realise they are entitled to financial help or find the system too confu…

Read previous post:
santander
Santander extends PPI deadline

Customers who believe they were mis-sold PPI by Santander can still make a complaint.

Close