In the first quarter of 2024, prices rose year over year in every region of the United Kingdom, according to the lender. Right now, the average price of a house is £261,142.
Even though the month-over-month gain in house prices decreased by 0.2% in March due to seasonal influences, analysts have cautiously welcomed the overall statistics.
Robert Gardner, chief economist of Nationwide, stated that this indicates “consumer sentiment is improving” as pressures from rising costs of living lessen and inflation declines.
He went on: “Recent months have seen an increase in buyer inquiries and new sell instructions, according to survey respondents.
Moreover, home affordability is progressively increasing as income growth continues to outstrip price increase by a solid margin.
