|
Headlines |
Nov-19 |
Oct-19 |
|
Monthly Index* |
431.5 |
429.4 |
|
Monthly Change* |
0.5% |
0.2% |
|
Annual Change |
0.8% |
0.4% |
|
Average Price (not seasonally adjusted) |
£215,734 |
£215,368 |
* Seasonally adjusted figure (note that monthly % changes are revised when seasonal adjustment factors are re-estimated)
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said:
“Annual house price growth remained below 1% for the 12th month in a row in November, at 0.8%, though this was the strongest outturn since April.
“Indicators of UK economic activity have been fairly volatile in recent quarters, but the underlying pace of growth appears to have slowed as a result of weaker global growth and an intensification of Brexit uncertainty. To date, the slowdown has largely centred on business investment, while household spending has been more resilient.
Will the election impact the housing market?
“With the UK general election due in a few week’s time, we have analysed house price movements in the months around previous elections, and also the 2016 EU referendum.
“As the chart above right illustrates, past general elections do not appear to have generated volatility in house prices or resulted in a significant change in house price trends. In the chart we have indexed average house prices so they equal 100 in the election month in each of the years shown. We can then compare house price movements in the months leading up to each election (t-6 to t-1) and following each vote (t+1 to t+6).
“On the whole, prevailing trends have been maintained just before, during and after UK general elections. Broader economic trends appear to dominate any immediate election-related impacts.
“We also examined how activity, in particular mortgage approvals for house purchase, responded to past UK general elections (see chart below). Here the picture is less clear, but again there does not seem to be any clear impact in the three months either side of a general election.
“While activity slowed in the period immediately following the EU referendum, this was a continuation of a trend that was driven by the introduction of additional stamp duty on second homes earlier in that year.
“It appears that housing market trends have not traditionally been impacted around the time of general elections. Rightly or wrongly, for most home buyers, elections are not foremost in their minds while buying or selling their home.”
Monthly UK House Price Statistics
|
Monthly % Change Seasonally Adjusted |
3 Month on 3 Month % Change |
Annual % Change |
Average Price |
|
|
Nov-17 |
-0.1 |
0.6 |
2.5 |
209,988 |
|
Dec-17 |
0.7 |
0.7 |
2.6 |
211,156 |
|
Jan-18 |
0.7 |
0.9 |
3.2 |
211,756 |
|
Feb-18 |
-0.4 |
1.1 |
2.2 |
210,402 |
|
Mar-18 |
-0.2 |
0.8 |
2.1 |
211,625 |
|
Apr-18 |
0.1 |
0.2 |
2.6 |
213,000 |
|
May-18 |
0.0 |
-0.1 |
2.4 |
213,618 |
|
Jun-18 |
0.3 |
-0.1 |
2.0 |
215,444 |
|
Jul-18 |
0.5 |
0.4 |
2.5 |
217,010 |
|
Aug-18 |
-0.3 |
0.6 |
2.0 |
214,745 |
|
Sep-18 |
0.3 |
0.6 |
2.0 |
214,922 |
|
Oct-18 |
0.0 |
0.3 |
1.6 |
214,534 |
|
Nov-18 |
0.2 |
0.3 |
1.9 |
214,044 |
|
Dec-18 |
-0.6 |
-0.1 |
0.5 |
212,281 |
|
Jan-19 |
0.2 |
-0.1 |
0.1 |
211,966 |
|
Feb-19 |
-0.1 |
-0.4 |
0.4 |
211,304 |
|
Mar-19 |
0.2 |
-0.1 |
0.7 |
213,102 |
|
Apr-19 |
0.3 |
0.1 |
0.9 |
214,920 |
|
May-19 |
-0.2 |
0.3 |
0.6 |
214,946 |
|
Jun-19 |
0.1 |
0.3 |
0.5 |
216,515 |
|
Jul-19 |
0.3 |
0.2 |
0.3 |
217,663 |
|
Aug-19 |
0.0 |
0.3 |
0.6 |
216,096 |
|
Sep-19 |
-0.1 |
0.3 |
0.2 |
215,352 |
|
Oct-19 |
0.2 |
0.2 |
0.4 |
215,368 |
|
Nov-19 |
0.5 |
0.3 |
0.8 |
215,734 |
