David Westgate responds to House Price Index

November's Nationwide House Price Index shows how annual house price growth remained at 0.8%. 

Following the release of this data David Westage, said:

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"On an annual basis, prices remain below 1% but growth of 0.5% in November shows the market still has some fight. Increasingly, it feels like the market is starting to find a bit of a rhythm, and a strong majority for the Conservatives could add even more momentum. A lot of people are fed up with the noise of politics and are getting on with their lives. Exceptionally low mortgage rates and more affordable prices are making that decision a bit easier. 

Some sellers are still proving stubborn on price but overall there is a bit more realism than there was earlier in the year. The one thing that’s still thin on the ground, perhaps no surprise in the current climate, is the aspirational mover. A decisive win for Boris Johnson could see the market rebound sharply, but if we end up with more political deadlock the market could continue to idle along for another year.”


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