Rob Weaver from Property Partner comments on November Nationwide House Price Index

Rob Weaver, Director of Investments at property crowdfunding platform Property Partner, comments:

“Onwards and slowly but surely upwards seems to be the trend with a mildly stronger performance in November.”

“The housing market is showing remarkable resilience in spite of a few wobbles in confidence post-Brexit.”

“We’re not in the dizzying double-digit percentage increases of mid-2014 but still house price growth, at least for those who have already bought, is comfortably creeping up.”

“Interestingly, the real certainty in uncertain times is the undeniable dearth in not only current available stock for sale but also longer-term housing supply in the UK, which is acting as a buttress for prices.

“Combined with cheap borrowing rates and continuing high employment, house prices particularly in London and the South East are only heading one way in the mid to long-term – and that’s up.”

“In the past two years, UK homeowners have seen their homes increase on average by more than £15,500, reflecting a rising market that looks unlikely to change anytime soon.”

“Last month’s Autumn Statement was positive news for housing with Philip Hammond announcing a £1.4 billion cash injection for a wide-range of affordable homes, including potentially boosting rental stock, now seemingly for many the tenure of necessity rather than choice.”

Rob Weaver is one of the UK’s most experienced residential property professionals. Rob currently sits on the residential committee of the British Property Federation.