House prices showing signs of recovery

The start of the year showed promise for the housing market, as house prices are increasing month-on-month.

Prices rose by 0.7% between December and January, bringing the average house price to £257,6561. The annual rate of growth is continuing to recover, albeit tentatively; in January, prices were down by -0.2% when compared with the previous year. This is a significant improvement on December 2023, where prices were down -1.8% annually.

 

Robert Gardner, Chief Economist at Nationwide, commented, “While a rapid rebound in activity or house prices in 2024 appears unlikely, the outlook is looking a little more positive.”

 

Considering moving home this year? Get in touch for mortgage advice.

 

Your home may be repossessed if you do not keep up repayments on your mortgage.
1 Nationwide

23 April, 2024

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