Property prices in UK increases by 0.8 pc

scotland-rent-houseProperty prices in the UK have got increased by 0.8% month on month in December to an average of £196,999 and up by 4.5% year on year, according to the latest monthly index. Nationwide data shows, that house price growth has remained range between 3% and 4.5% in the second half of the year. Although London was the strongest performing region for the fifth year running, with average prices up 12% year on year.

Robert Gardner, Nationwide’s chief economist says: “Looking forward to 2016, the risks are tilted towards a slowed stepping up in house price growth, at the national level, regardless of the interest rate increases from the middle of next year. However, the building activity will stand aback strengthening demand, putting upward pressure on house prices and ultimately reducing affordability. Overall, there is an expectation for UK house prices to rise by 3% to 6% over the next 12 months.”

Leave a reply

Your email address will not be published.

Back to home page