UK Property Market Remains Flat
2017-12-04
Low mortgage rates and healthy rates of employment growth are supporting housing demand, but construction of new build properties is 'still too low', reports Nationwide.
The housing market remained steady in November with property prices edging ahead by just 0.1% month-on-month.
This slight increase, which followed a rise of 0.2% in October, left the average UK home costing £209,988 – only £1,200 more than at the end of May.
The annual rate at which house prices are rising remained unchanged from the previous month at 2.5%, according to Nationwide Building Society, and is also in line with the small increase the organization forecast at the start of the year.
Nevertheless, annual growth remains within the 2% to 4% range that has prevailed since March.
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