Are UK House Prices Rising?

Nationwide’s latest House Price Index shows steady growth in Q3, with prices up 2.2% year-on-year and 0.5% month-on-month.

Despite higher interest rates, mortgage approvals are holding firm at around 65,000 per month – close to pre-pandemic levels.

Nationwide’s Chief Economist commented that stabilising house price growth and mortgage approval numbers signify “supportive” conditions for potential home buyers. Nationwide anticipate strengthening housing market activity if the current conditions of low unemployment, rising earnings and strong household balance sheets continue.

What does this mean for you?

If you’re a buyer, it’s a sign that confidence is returning: lenders are active and stable prices allow you to budget and plan effectively.
If you’re a homeowner, rising values could boost your equity, making remortgaging or releasing funds more viable.