• IS THE OPPORTUNITY TO BUY RIGHT NOW?



    'Softer house prices will have a restorative effect on the London property market long term'



    Lucy Pendleton

Property Industry EyeAnnual house price inflation bounces back

Annual house price inflation increased for the first time in three months as the gap between the strongest and weakest regions also shrunk, Nationwide says.

The Nationwide House Price Index for June records a 3.1% increase in property values to £211,301, up from 2.1% annual house price inflation in May.

Price growth had been slipping from 4.5% in February to 3.5% in March and 2.5% in April.

On a monthly basis, prices increased 1.1% this month, more than reversing the 0.2% decline in May.

Meanwhile, the gap between the best and worst performing region was the lowest on record.

East Anglia saw annual price growth of 5% to £220,362, while the weakest region, north England, was up 1% to £125,237.

Robert Gardner, chief economist at Nationwide, said: “In effect, after two sluggish months, annual price growth has returned to the 3-6% range that had been prevailing since early 2015.”

Commenting on the figures, Lucy Pendleton, director of James Pendleton estate agents, said: “The housing market has come up for air, which is incredible in a month that saw one of the least conclusive General Elections ever.

“For the market to bounce slightly across the country as a whole in such adverse conditions says something about the way solid demand and weak supply are cushioning the market.

“However, it may be short-lived. A gentle slide in prices could continue but it’s got less to do with Brexit and more to do with four factors that can be the Four Horsemen of the Apocalypse for markets – inflation, consumer credit, wage growth and mortgage activity – all of which have been dragging their heels recently.”

* Figures from Savills have shown average prime London values slipped 0.9% the second quarter, leaving them 5.3% down year-on-year and 6.9% below their mid-2014 peak.

Savills says that despite these recent drops, ten years on from the credit crunch, prime London gains are 29.7%.

Property Industry Eye
By Marc Shoffman, 29 June 2017
  • Councils not seizing empty homes Development Finance Today: Councils not seizing empty homes

    The estate agency has claimed that there were just nine seizure applications in 2016

    Read More
  • Location no longer the priority for Londoners Your Mortgage: Location no longer the priority for Londoners

    Londoners are no longer prioritising location over other factors when they buy a home, research suggests.

    Read More
  • House price growth slows - London near worst performer City AM: House price growth slows - London near worst performer

    The rapid growth of house prices weakened in May, with London the second slowest region in the UK

    Read More
  • UK house price growth bounces back What Mortgage: UK house price growth bounces back

    UK house price growth rebounded in June following falls in the previous three months.

    Read More
Help to Buy
Lucy Pendleton to give insight into the recent November 2017 House Price Index.
James Pendleton is an amazing company. They have been a big part of me winning a bronze medal in Rio 2016 and have been so supportive with all my achievements, which wouldn't have been possible without them. They have given me so many opportunities, I am privileged to be associated with such fantastic people who give so much back to the local community.

Aaron
Having recently rented my property through James Pendelton, I can't recommend them highly enough. They walked me through the process and found me amazing tenants. From the first contact they were professional and informative. Thank you to Jacob, you were amazing. Thank you also to the Angel Department who, after realising I needed safely certificates, sorted everything out for me and made sure I had everything in order.

Giles
0

Free Valuation

Contact Us

  • title

    Mr / Mrs
    • Mr / Mrs
    • Mr
    • Mrs
    • Ms
    • Miss
    • Dr
    • Baron
    • Baroness
    • Captain
    • Count
    • Lady
    • Lord
    • Prof
    • Rev
    • Sir
    • None
  • Name

  • contact number

  • contact email

  • town

  • your nearest office

    Nearest office
    • Balham
    • Battersea
    • Battersea Park
    • Brixton
    • Chelsea
    • Clapham Common
    • Clapham North
    • Clapham South
    • Earlsfield
    • Fulham
    • Nine Elms
    • Northcote Road
    • Parsons Green
    • Putney
    • Southfields
    • Stockwell
    • Streatham
    • Tooting
    • Victoria
    • Wandsworth Common
    • Wandsworth Town
    • The Tonsleys
  • message

  • Enquiry Type
    • Sales
    • Lettings
    • Commercial
    • Land
    • Sale and Lettings
  • Submit