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March sees subtle uplift in UK house prices amid regional contrasts - Nationwide HPI

March sees subtle uplift in UK house prices amid regional contrasts - Nationwide HPI

In March, the Nationwide House Price Index observed a subtle rise in annual growth, reaching 1.6% from the 1.2% seen in February, despite a monthly decrease of 0.2% in prices.




“Activity has picked up from the weak levels prevailing towards the end of 2023 but remains relatively subdued by historic standards. For example, the number of mortgages approved for house purchase in January was around 15% below pre-pandemic levels. This largely reflects the impact of higher interest rates on affordability. While mortgage rates are below the peaks seen in mid-2023, they remain well above the lows prevailing in the wake of the pandemic"

This period showcased a contrast across regions, with Northern Ireland witnessing a robust 4.6% growth, while the South West saw a downturn of 1.7%. This pattern of activity, rejuvenated yet still below pre-pandemic levels, hints at a potential upward trajectory for the housing market, amidst the backdrop of economic pressures and higher borrowing costs.


For further details, dive into the Nationwide House Price Index.

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