Nationwide sees a ‘Modest’ increase in UK House Prices

property news  : Nationwide sees a Modest increase in UK House Prices Image (NationwideHPI)

 Key facts from the Nationwdie May HPI:

  • Price of a typical home increased by 0.4% in
    May and was 1.1% higher than May 2012
  • The typical UK home is now worth £167,912

Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said:

“House prices edged up by 0.4% in May, providing further support for the view that the housing market is gradually gaining momentum. The three month on three month measure of house prices, which is a smoother measure of the underlying trend, has been in positive territory since October last year. The annual rate of house price growth also ticked up to 1.1% in May – the fastest pace since November 2011.

“It’s not just prices – a number of measures of housing market activity have also started to move higher. In the first four months of 2013 the number of property transactions was running at around 5% above the monthly average prevailing in 2012. The number of mortgage approvals for house purchase in the first quarter of 2013 was also around
4% above last year’s monthly average.

property news  : Nationwide sees a Modest increase in UK House Prices Image (AlecSignature)



Related posts:

Bank of England “Mortgage Approvals” figure for January down 17%
17% drop in The Bank of England's 'Mortgage Approvals' figures in January!
Budget 2012 - Main points relating to Capital Allowances by Arthur Kemp
As previously announced the abolition of flat conversion allowances will go ahead for expenditure fr...
Eco Upgrades that Add Value to Your Property
In the past few years, eco-friendly homes have become incredibly sought after by prospective home bu...