Nationwide housing report to May 2019

Despite the fact that the media continue to create doom and gloom headlines surrounding Brexit, UK house prices have remained relatively steady. The recent Nationwide housing report to the end of May 2019 makes for interesting reading and will surprise many property investors. This comes at a time when the UK government is effectively paralysed, the official opposition nowhere to be seen and constituents of the UK fighting their own agendas. So, against this political background, and with Brexit still nowhere near resolved, many would have expected UK house prices to have fallen over the last 12 months. House prices increase year-on-year The average UK home is now valued at £214,946 which equates to a 0.6% increase over the last 12 months. While house prices did fall by 0.2% between April and May, the longer term trend is surprisingly steady in light of so many different challenges with the economy...
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Slight pickup in house price growth in October

  Nationwide have just released their HPI for October. House prices increased by 0.6% in October Annual house price growth ticked up to 3.9% Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “UK house prices increased by 0.6% in October, with the annual pace of price growth edging up to 3.9% from 3.8% in September. “Over the past five months annual price growth has remained in a fairly narrow range between 3% and 4%, broadly consistent with earnings growth over the longer term. While this bodes well for a sustainable increase in housing market activity, much will depend on whether building activity can keep pace with increasing demand. Fixed rate mortgages remain most popular “Fixed rate mortgages have remained the most popular product type by a considerable margin in recent years. Data from the Council of Mortgage Lenders suggests that almost 90% of new mortgages were contracted on fixed...
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Annual house price growth softens in August

  Nationwide have released their HPI for August 2015. UK house prices increased by 0.3% in August Annual house price growth slowed to 3.2% Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “UK house prices increased by 0.3% in August, though the annual pace of house price growth edged down to 3.2% from 3.5% in July. The annual rate of price growth was the weakest since June 2013; this partly reflects the high base for comparison, since prices increased at a particularly strong rate in August 2014. “This month’s data provides further evidence that annual house price growth may be stabilising close to the pace of earnings growth, which has historically been around 4%. “However, survey evidence cautions that this trend may not be maintained unless construction activity accelerates. Surveyors reported the lowest ever number of properties on their books in July (on data extending back to the late...
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David Camerons Immigration Speech

David Camerons speech on immigration last week announced some surprising and unwelcome news about extending the mandatory licensing regime. Funnily enough this wasnt in the Conservatives manifesto during the election.
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Annual house price growth edges up in April

The strength of the economy and relatively subdued pace of activity in the housing market remains something of an anomaly. It is possible that heightened uncertainty ahead of the election is weighing on activity, though there is no compelling evidence from previous UK elections to suggest a strong impact.
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Annual house price growth continues to soften

Annual house price growth slowed to 5.1% in March from 5.7% in February Annual house price growth slowed for the seventh month in a row UK house prices rose by 0.1% in March Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “UK house prices edged up by 0.1% in March though the annual pace of growth slowed for the seventh month in a row to 5.1% from 5.7% in February. UK house prices are currently around 2% above their pre-crisis levels. “Economic conditions have remained supportive, with labour market conditions continuing to improve and mortgage interest rates close to all-time lows. Nevertheless, the pace of housing market activity has remained subdued, with the number of mortgages approved for house purchase in January around 20% below the level prevailing one year ago. “While house price growth has moderated across the UK, there is still significant regional variation. Prices in...
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Annual house price growth continues to soften

Nationwide have released their House Price Index for February 2015. Annual house price growth slowed to 5.7% in February from 6.8% in January Annual house price growth slowed for the sixth month in a row UK house prices fell by 0.1% in February Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “February saw a further softening in annual house price growth to 5.7%, from 6.8% in January.  This is the sixth month in a row in which annual growth has moderated, with house prices declining by 0.1% month on month. “The broader economic backdrop has remained supportive of housing market activity. Mortgage rates remain close to all-time lows and consumer confidence remains buoyant thanks to a further steady improvement in labour market conditions. Indeed, the unemployment rate has continued to decline and earnings growth has picked up, particularly in inflation-adjusted terms, thanks in part to the sharp decline...
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Annual house price growth slows again in November

The Nationwide released its HPI for November. Key Facts: UK house prices rose by 0.3% in November Annual house price growth slowed to 8.5% Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “The annual pace of house price growth continued to soften in November, falling from 9.0% in October to 8.5%, marking the third consecutive month where annual growth has moderated. This is despite house prices increasing by 0.3% month on month in November. “Housing market activity levels have remained relatively weak in recent months. The number of mortgages approved for house purchase in September was almost 20% below the level prevailing at the start of the year and 27% below the long-term average. Similarly, housing market turnover rates are well below long-term averages. For example, the number of mortgage transactions is currently equal to around 4% of the housing stock - well below the long-run average of 6% Stronger Economy should underpin activity “There is something of a disconnect...
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Nationwide HPI - Annual house price growth continues to soften

The annual pace of house price growth continued to moderate in October, declining to 9% from 9.4% in September, the second consecutive month where annual growth has fallen. This is despite house prices increasing by 0.5% month on month in October.
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Nationwide HPI shows house price growth slows in September

The latest Nationwide House Price Index shows that annual house price growth has slowed down in September.
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Nationwide HPI shows continued stable increase

The Nationwide August HPI has seen continued stable rises in house prices with the 16th successive monthly increase. Monthly increase of 0.8% since July 2014, which saw a small 0.2% increase.
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Nationwide sees continue strength in House prices

The Nationwide June House price Index shows a strong growth remains in the market with large annual increase and positive monthly gains.
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Prospect of rising interest rates to impact landlords

With the UK buy to let market currently experiencing a shortage of property caused by exceptional demand, many landlords have looked to take advantage of historically low interest rates to expand their portfolios.
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House prices 3% below peak as London continues its strong push

Nationwide have released both their March 2014 and Q1 2014 House Price Indices and both report a continued strong market, with London pushing forward faster than the rest of the UK. Average UK house prices were up by 0.5% in March a 9.5% increase since March 2013.
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Landlords urged not to dismiss tenants on housing benefit

According to the poll of 1500 landlords, more landlords are turning away housing benefit claimants than ever before with almost six in 10 landlords (57%) refusing to accept anyone on benefits.
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January sees continued rises of house prices

The start of 2014 has proven to be very positive with further rises in house prices, continuing the increases seen in 2013. In the month of January UK house prices increased by of 0.7% compared to December 2013 and 8.8% over the whole year.
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Nationwide sees continued momentum closing 2013

Nationwide HPI House Price Index at the end of 2013 reported seeing continued momentum in the closing period
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Landlord Discord: Thousands of Tenants Withhold Rent Over Delayed Repairs

Hundreds of thousands of private tenants a year are taking matters into their own hands and withholding rent from their landlords because of delays resolving emergencies like heating and electrical faults, new research reveals.1
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Tenants warned about rent arrears in run-up to Christmas

The impact of tenants falling into arrears at Christmas time should not be underestimated, as it can also directly affect a landlord’s ability to maintain their mortgage payments too. With many landlords relying on a tenant’s rent to supplement their monthly income it is clear that some would be unable to pay the mortgage on their property in the event that the tenant missed a payment of rent.
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UK House prices up and nearing the all time highs

The Nationwide House Price Index for November 2013 was released today, showing a continued increase in UK house prices. The average mortagge rates being provided, for a 2 year fixed period, are also declining with both 90% LTV and 75% LTV mortgage rates the lowest for some considerable time.
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