5 February Surprise uptick in UK house prices
January 2018 saw a surprise uptick in UK house prices with a 3.2% rise within the period, which is now at a 10 month high. The average house price in the UK reached £211,756 according to data from Nationwide. This represents the highest average value ever recorded by the Building Society.
The suggestion is that prices are being driven up by a lack of new properties coming onto the market. Although we have seen an increase in valuations, vendors remain cautious. Many have chosen to stay put or let their properties until the market warms up.
For our perspective as demand continues to outstrip supply, the figures look set to only move one way.
We look forward to keeping you informed.