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Wed 19 Mar 2014
Nationwide has published figures which have highlighted a continuing trend for house price growth during February. Their statistics revealed a 0.6% increase in average values since January to £177,846. This represents and annual rise of 9.4%.
Houseladder.co.uk reported that this is the 14th consecutive monthly increase in house prices, boosting the confidence within the housing sector.
Robert Gardner, Chief Economist at Nationwide, commented: "Price growth is being supported by the fact that the supply of housing remains constrained, with housing completions still well below their
pre-crisis levels, which was already insufficient to keep up with the pace of household formation."
He added that cash buyers have played a crucial role in the recovery of the UK housing market, with 35% of all purchases being cash buyers.
"Jonathon Myles at Vincent Shaw was our estate agent when we purchased a house in Cambridge. He was thoroughly helpful and professional throughout the process. For instance he would always facilitate surveyor and tradesmen appointments with the minimum of fuss, he helped answer all our questions about the property, he sorted problems when they arose and we couldn't have asked for anything more. Thoroughly recommend Vincent Shaw."