House Prices Lowest Growth For 6 Years
Published / Last Updated on 07/01/2019
According to the Nationwide Property Index, 2018 saw a 0.5% pa, a 6 year low on house price growth.
December saw a 0.7% drop in house prices for the month which is only 0.5% higher on the year from December 2017. The amount of the new properties coming to market and decline in new surveys instructed show there still is not confidence in buyers.
One of the main contributors curbing a property price recovery is Brexit uncertainty.
If borrowing remains low and employment rates stay at the same level, we should hopefully see UK house prices to rise in 2019.
In 2018 Northern Ireland had the best growth in prices rising by 5.8%pa, Wales 4%pa rise, Scotland only 0.9%pa and England only had a 0.5%pa rise.