Qualified advisers answering your
Financial Questions
call 0800 092 1245

House prices up again, to highest post-recession level


The Nationwide has revealed that house prices in the UK have risen again, and are now at the highest rate since April 2008.

The Nationwide, the second largest mortgage lender in the country, based the results on its own figures from lending, and suggests prices have risen by 0.6pc month-on-month, meaning the total 12-month growth figure now stands at 6.5pc.

The market has picked up considerably this year after Government initiatives designed to increase lending, and this has meant competition for houses has increased, and prices have been driven up.

However, the Nationwide has stressed that despite the positive growth figures, prices are still below those of the peak before the recession. Robert Gardner, Nationwide’s chief economist, said: “Prices are still around 6pc below the all-time high recorded in late 2007.

He did make reference though to a “brighter economic outlook”, and mentioned this as a key driver to the improving market.

The rise in house prices, which has been mainly confined to the South East, has caused many to fear we could see a ‘housing bubble’, where prices are driven up to the extent that few are able to afford to buy. However, The Bank of England has moved to counter this, ending the joint programme with the Treasury, known as Funding for Lending. From 2014 the scheme will no longer cover loans for new houses, although business loans will still be covered by the scheme. It’s hoped this will slow the increase in house prices.

Need Advice?

If you need help getting a mortgage or advice on your current deal, contact our financial advisers. Our advisers are ‘whole of market’ meaning we can compare every deal out there and not just those from a restricted panel of providers.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details