House prices have rebounded for the first time in three months, according to data from Nationwide, as consumer confidence improves and inflation fears wane.
The mutual’s closely-watched housing index showed prices ticked up 0.4pc in May, reversing recent falls. House prices were up 1.3pc compared to the same period last year at an average of £264,249.
The increase outstripped economists’ expectations as prices proved “resilient” despite high interest rates.
“The market appears to be showing signs of resilience in the face of ongoing affordability pressures following the rise in longer term interest rates in recent months,” said Robert Gardner, Nationwide’s chief economist.
“Consumer confidence has improved noticeably over the last few months, supported by solid wage gains and lower inflation.”
Despite the prospect of a General Election on 4 July, Mr Gardner said Nationwide did not expect to see a major impact on house prices, based on previous polls.
“It appears that housing market trends have not traditionally been impacted around the time of general elections,” Mr Gardner. “Rightly or wrongly, for most homebuyers, elections are not foremost in their minds while buying or selling property.”
Read the latest updates below.
https://news.google.com/rss/articles/CBMiXWh0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9idXNpbmVzcy8yMDI0LzA1LzMxL2Z0c2UtMTAwLW1hcmtldHMtbGF0ZXN0LW5ld3MtdGVzbGEtZWxvbi1tdXNrL9IBAA?oc=5
2024-05-31 07:55:54Z
CBMiXWh0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9idXNpbmVzcy8yMDI0LzA1LzMxL2Z0c2UtMTAwLW1hcmtldHMtbGF0ZXN0LW5ld3MtdGVzbGEtZWxvbi1tdXNrL9IBAA
Tidak ada komentar:
Posting Komentar