Nationwide house price index for October 2013

31 October 2013

Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association (IMLA), comments

“Thanks to the restoration of consumer confidence and improved access to lending there is renewed vigour in the market, as illustrated in the continuing upward trajectory in the Nationwide index.

“On their measure, the average house price has risen by 1% over the past month; with the current average sitting 5.8% higher than this time last year. Although there are concerns that a bubble is being formed around London and the South East, other indices confirm that growth is now being experienced in the majority of regions.

“Although it will take a while to come into full effect, the Help to Buy mortgage guarantee will provide the market with further impetus, so we expect to see house prices continue to rise until some limiting factors emerge.”

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