Nationwide predicted that house prices will, on average, increase by 2% over the year. This month’s Nationwide House Price Index confirms this with an increase in property prices, year on year, of 3.5%.
Brian Murphy, Head of Lending at Mortgage Advice Bureau (Holdings) PLC, comments on the data: The data released from the Nationwide is based on lending for house purchases at post survey approvals stage, so provides us with a valuable and timely ‘snapshot’ from one of the biggest lenders of how the mortgage market has performed over the first quarter of 2017.
This month’s report suggests that house prices have decreased by 0.3% month on month, and increased 3.5% year on year, which is still in line with the Nationwide’s prediction that house prices will, on average, increase by 2% over the course of this year….
