According to the August house price index report from Nationwide, a slight pickup in house price growth was seen in August.
Commenting on the August house price index, Nationwide’s Chief Economist, Robert Gardner said;
UK house prices increased by 0.6% in August, resulting in a slight pickup in the annual rate of house price growth to 5.6 from 5.2 in July.
These latest figures are encouragingly surprising when compared to the feedback and concerns heard across the media since the decision was made to leave the EU.
However, Mr Gardner goes on to explain that the decline in demand has been matched by the weakness on the supply side of the housing market, meaning the pace of house price growth has remained stable.
So what does this mean for future housing market?
According to Robert Gardner, the outlook is still clouded and what happens next will be determined by what labour do to install confidence amongst prospective buyers.
Quick Move Now’s Managing Director, Danny Luke comments;
It’s encouraging that steady growth remains in the market, despite the decision to leave the EU. It will be interesting to see if the growth divides we have seen in the last couple of months between the North and the South of England continues and what labour will do to encourage potential buyers onto the market.
Despite the uncertainties that remain in the current market, Quick Move Now are still buying properties and have over £6 million available right now!
If you have a house for sale, call the friendly team today to see how much we could offer you for a guaranteed quick house sale!