The industry reaction to the latest Nationwide House Price Index.
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The latest index shows house prices climbed 10% annually in November, up 0.9% from the previous month.
The Property Market Momentum Continues To Snowball
Bective’s Head of Sales, Craig Tonkin, commented:
“While the chances of a white Christmas are slim, property market momentum continues to snowball. As we head into the final stretch of 2021 it’s quite remarkable to not only see a sustained level of high transactional volume but yet another dose of double-digit house price growth.
There's no doubt this is partly being driven by the returning health of the London market. While there are signs that the rest of the market is cooling, the region has gone from strength to strength in recent months.
This is not only due to an uplift in domestic activity but also from returning foreign demand across the top tier of the market. We’ve also seen a very strong uplift in rental demand and the combination of all of these factors is helping to push the dial.”
Founder and CEO of GetAgent.co.uk, Colby Short, commented:
“House prices continue to climb despite fears around an interest rates increase and it seems as though the only person that will be working harder than the nation’s estate agents this December is Father Christmas himself.
There’s been absolutely no let-up in buyer demand this year and this coupled with ongoing supply limitations has been the driving factor behind such a jolly level of house price appreciation.”