Property industry reacts to Nationwide House Price Index

Nationwide has just released its latest data revealing movement in UK house prices April.

More to follow… 

Industry reactions:

Guy Gittins, chief executive of Foxtons, said: “Despite last week’s announcement of a general election, we’ve not seen a dampening of sentiment from buyers and sellers; in fact, last week we saw more sales agreed than we have done at any point during the same period in the past 6 years. The prospect of a change in government hasn’t deterred new buyers from entering the market either, with last week also a record number of new applicant enquiries compared with the past five years. As buyers and sellers await the next interest rate decision, they should take some confidence from the fact that homeowners and prospective buyers are acting with confidence despite the uncertainty of the election ahead .”

Adam Feather, head of Robert Anthony Estate Agents, added: “Certainty breeds sales and we expect housing market activity to improve once the election is over and there is a new government in place. Having said that, the market is likely to remain price-sensitive, even if confidence improves, with overpriced properties left on the shelf.”

This article is currently being updated