Nationwide’s chief economist has predicted a gradual improvement in housing affordability as the bank announced its latest housing price growth figures.
Its house price index for August showed that annual house price growth rates dropped to 2.1% from 2.4% in July. After accounting for seasonal effects, prices were down 0.1% month-on-month.
Rob Hamlyn, branch manager for Islington Properties, comments on the Nationwide House Price Index for August:
“Earlier this morning Nationwide published their house price index which shows property values are +2.1% higher nationally than a year ago. There has been a small -0.1% change when comparing month to month for August vs July – although this is expected given it’s the holiday season.
"Locally in Islington activity remains strong in the market with buyers enthused by recent drops in the mortgage rates as well as changes that allow for higher borrowing multiples of salaries. The high end of the market though will be awaiting any potential stamp duty changes being floated in advance of the budget taking place on 26 November 2025.
"We await Rachel Reeves' budget and will give our reaction nearer the time – but it’s certainly one to keep an eye on.”
