United Kingdom Nationwide Housing Prices1991-2021 Data | 2022-2023 Forecast

Annual house price growth rose to 11 percent in August of 2021 from 10.5 percent in the previous month, above market expectations of 8.6 percent. On a monthly basis, housing prices climbed 2.1 percent, the second largest gain in 15 years and well above market forecast of 0.2 percent. House prices are now around 13% higher than when the pandemic began.”Underlying demand is likely to remain solid in the near term. Consumer confidence has rebounded in recent months while borrowing costs remain low; and the lack of supply on the market, suggests continued support for house prices. Activity will almost inevitably soften for a period after the stamp duty holiday expires at the end of September, given the incentive for people to bring forward their purchases to avoid the additional tax. Moreover, underlying demand is likely to soften around the turn of the year if unemployment rises, as most analysts expect, when government support schemes wind down.”

Annual house price growth in the UK eased to 10.5 percent in July of 2021 from a 17-year high of 13.4 percent in the previous month, as a deadline for a full tax break for home buyers passed. Figures compare with market forecasts of 12.1 percent. On a monthly basis, housing prices were down 0.5 percent, reversing from a 0.7 percent rise in June and compared to market consensus of a 0.6 percent gain. “ Underlying demand is likely to remain solid in the near term. Consumer confidence has rebounded in recent months while borrowing costs remain low. This, combined with a lack of supply on the market, suggests continued support for house prices. But, as we look toward the end of the year, the outlook is harder to foresee. Activity will almost inevitably soften for a period after the stamp duty holiday expires at the end of September, given the incentive for people to bring forward their purchases to avoid the additional tax.”, Robert Gardner, Nationwide’s chief economist, said.

Annual house price growth in the UK surged to 13.4% in June of 2021, the highest level since November 2004 but below market forecasts of 13.7%. On a monthly basis, housing prices were up 0.7%, easing from a 1.7% rise in May. “Underlying demand is likely to remain solid in the near term as the economy unlocks. Consumer confidence has rebounded while borrowing costs remain low. This, combined with a lack of supply on the market, suggests further upward pressure on prices. But as we look toward the end of the year, the outlook is harder to foresee. Activity will almost inevitably soften for a period after the stamp duty holiday expires at the end of September, given the strong incentive for people to bring forward their purchases to avoid the additional tax”, Robert Gardner, Nationwide’s chief economist, said.

Annual house price growth in the UK surged to 10.9% in May of 2021, the highest level since August of 2014, and well above market forecasts of 9.2%. On a monthly basis, housing prices were up 1.8%, after rising 2.3% in April. Meanwhile, average house prices surged to a new record of £242,832, up £23,930 over the past twelve months. ““Housing market activity is likely to remain fairly buoyant over the next six months as a result of the stamp duty extension and additional support for the labour market included in the Budget, especially given continued low borrowing costs, improving credit availability and with many people still motivated to move as a result of changing housing preferences in the wake of the pandemic. With the stock of homes on the market constrained, there is scope for annual house price growth to accelerate further in the coming months, especially given the low base for comparison last year”, Robert Gardner, Nationwide’s chief economist, said.