Commenting on the figures below, Robert Gardner, Nationwide’s Chief Economist said: ‘The story of UK house price growth in 2016 was one of relative stability. Annual house price growth ended 2016 at 4.5%, the same as the rate recorded in 2015. Looking ahead to 2017, house price prospects will depend crucially on developments in the wider economy, around which there is a greater degree of uncertainty than usual.’
| Headlines | Dec-16 | Nov-16 |
| Monthly Index* | 413.6 | 410.3 |
| Monthly Change* | 0.8% | 0.0% |
| Annual Change | 4.5% | 4.4% |
| Average Price (not seasonally adjusted) | £205,898 | £204,947 |
‘Looking ahead to 2017, house price prospects will depend crucially on developments in the wider economy, around which there is a greater degree of uncertainty than usual. Like most forecasters, including the Bank of England, Nationwide expect the UK economy to slow modestly next year, which is likely to result in less robust labour market conditions and modestly slower house price growth.’ ‘But we continue to think a small gain – around two percent – is more likely than a decline over 2017 as a whole, since low interest rates are expected to help underpin demand while a shortage of homes on the market will continue to provide support for house prices.’ For expert mortgage advice please contact us by email or by calling +44 (0) 20 3858 0313.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
Max Adams Ltd is an Appointed Representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of buy to let, offshore mortgages, commercial loans or bridging loans. Your home may be repossessed if you do not keep up repayments on your mortgage. We do not charge a fee for residential mortgage advice. We charge an administrative fee for processing each of your mortgage contracts; our fees only apply when you decide to go ahead with an application. Standard residential and buy to let high street mortgages. The highest fee is up to £999, payable on application.
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