Jay Mullings Nathan Emerson, CEO of Propertymark, comments on the UK’s Nationwide House Price Index for April 2024.
Buyers and sellers are starting to accept the new reality of the housing market in the face of current interest rate levels, and it is encouraging to see that house prices are increasing year on year, giving sellers the confidence they need to put their house onto the market during what will be a busy time for the housing market.
Propertymark’s latest Housing Insight Report showed there was an 18 per cent increase in new properties coming to the market. Also, the number of mortgage approvals made to home buyers increased from 56,100 in January to 60,400 in February, according to recent Bank of England figures.
Hopefully the UK Government takes the initiative and encourages growth in the housing market by meeting its own housing targets.”
