House Prices Tick Up Higher in November

Published / Last Updated on 30/11/2018

November saw a 1.9% pa increase in house prices (compared to the same time last year) according to the latest Nationwide Property Index. 

This is up from 1.6% pa last month and has been put down to lower unemployment i.e. employment has risen as well as household incomes remaining level with wage increases balancing out price increases.

The only thing curbing a property price recovery is Brexit uncertainty.

Housing Supply

In addition, Nationwide reported an increase in ‘new build’ property, additional dwellings and conversions from retail to residential providing some improvement in housing supply.  Over the last 10 years we have seen an 8.5% increase in housing supply across the UK.

The strongest increase in numbers of properties was in the South West (+26,800) and the East Midlands (+21,400).  Still some big targets to hit as the population of the UK is set to expand by another 10m-15m people in the next 15 years or so.

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