Nationwide House Price Index - December 2019

Property prices end 2019 with a bang. Or was it a whimper? Conflicting figures from two of the main mortgage providers leaves us wondering - was there a Boris Bounce or not? A brief look at the latest data from Nationwide.

Robert Gardner, Nationwide's Chief Economist:

​“Annual UK house price growth edged up as 2019 drew to a
close, with prices 1.4% higher than December 2018, the first time it been above 1% for 12 months.

“Indicators of UK economic activity were fairly volatile for
much of 2019, but the underlying pace of growth appeared to slow through the year as a result of weaker global growth and an intensification of Brexit uncertainty.

​“The underlying pace of housing market activity remained
broadly stable, with the number of mortgages approved for
house purchase continuing within the fairly narrow range ​prevailing over the past two years. Healthy labour market conditions and low borrowing costs appear to have offset  the drag from the uncertain economic outlook.

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“Looking ahead, economic developments will remain the key driver of housing market trends and house prices. Much will continue to depend on how quickly uncertainty about the UK’s future trading relationships lifts as well as the outlook for global growth."

​Content from Nationwide - click for the full report