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

    Lucy Pendleton

Property Investor TodayHouse prices rebound in June - Nationwide

Residential property price in the UK rebounded in June after falling for three months, fresh data from Nationwide has revealed.

House prices rose 1.1% in June alone after falling 0.2% in May, the mortgage lender said.

However, it added that it was unclear at this stage if the increase in home values reflected improved demand, with Nationwide economist Robert Gardner pointing out that “monthly growth rates can be volatile, even after accounting for seasonal effects”.

The average price of a home in the UK rose by £2,590 to £211,301, and yet growth in London continued to slow, rising at the slowest annual pace since 2012, up 1.2% year-on-year.

Gardner commented: “There has been a shift in regional house price trends. Price growth in the south of England has moderated, converging with the rates prevailing in the rest of the country.”

But despite a narrowing in the gap in percentage rises between the strongest performing region, which is East Anglia, and the weakest in the North, the price gap between regions remains extremely wide, the data shows.

Reflecting on Nationwide’s figures, Lucy Pendleton, founding 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.

“If Theresa May’s disastrous election gamble was the first shock result, then the performance put in by the housing market in London has to be the second.

“London had a bad day in the office in June but it always bounces back.”

Property Investor Today
By Marc Da Silva,  28 June 2017
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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.

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.


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