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House Prices Up-Down-or about the same
Following the Brexit vote, house prices showed a year on year increase of 5.6% in August, the July figure was 5.2%. According to the Nationwide Building Society. “The pick up in price growth is somewhat at odds with signs that housing market activity has slowed in recent months,” Nationwide said.
The Nationwide added that although demand had softened, the number of new homes coming to market had also been low, keeping them balance in check resulting in the upward pressure on prices.
The outlook for prices is still unclear, largely determined by the state of the labour market and the confidence of prospective buyers.
