Selling Your House? WE CAN HELP

Enter your details below and we will get in touch.

The service is brought to you by Springbok Properties. We charge no upfront costs whatsoever for advertising or marketing your property on property portals like Rightmove. Your data is safe; we are a data protection registered company.

The Nationwide House Price Index Announces That House Price Growth Has Slowed to Its Lowest Pace Since 2013

The start of March 2017 revealed good news for homebuyers across the UK, the Nationwide House Price Index revealed that the growth rate of UK property prices has decreased to the lowest rate since July 2013.

As explained by nationwide property analysts, the Nationwide House Price Index figures, released by Halifax on 7th March 2017, reveal that the UK property prices rose by 5.1% in the year to February. These latest Nationwide House Price Index figures show that house price inflation has halved in a single year. The average property price in the UK is now £219,949.

Springbok Properties expert knowledge of current trends in the property market means that we can sell your home fast for up to 99% market value in as little as 7 days.

Homeowners can be confident that whether the property market is buoyant or experiencing a slight regional or nationwide downturn in sales, as currently stated by the Nationwide House Price Index, we can still sell your home - FAST. Call us TODAY on: 0800 068 4015 and speak to our award-winning customer team to find out more.

What Is the Nationwide House Price Index?

The Nationwide House Price Index (HPI) gathers house sales data from the Land Registry, Registers of Scotland and Land and Property Services Northern Ireland and compiles an overview of house prices in different regions of the UK.

The Nationwide House Price Indexexamines variables in the UK housing market and property prices to produce a general overview of house price growth in different regions of the UK.

Springbok Properties has more than 8 years' experience selling homes fast throughout the whole of the UK. We have a no sale, no fee policy, charge no upfront costs and can sell your home in under a week. To list your home with us, call us TODAY on: 0800 068 4015.

 

The Reason for the Slowdown in Property Price Growth and the Nationwide House Price Index

Halifax Plc, the UKs largest mortgage lender, gave a reason for the slowdown in property price growth reported by the Nationwide House Price Index. They believe that the affordability of homes across the UK has affected property prices. Today, fewer people can to afford to buy a home than ever before and this has prompted homeowners to reduce their asking prices just to secure a sale.

Martin Ellis, Halifax's housing economist, stated that 'a sustained period of house price growth that exceeds pay rises has made it increasingly difficult for many to purchase a home.'

He elaborates by saying 'this development, together with signs of reduced momentum in the jobs market and squeezed consumer spending power, is expected to curb house price growth during 2017.'

However, it should be noted that the Nationwide House Price Index has uncovered that low mortgage rates mean that the proportion of people's earnings spent on repayments is still relatively modest.

Statistics from the Nationwide House Price Index and average income per household based on geographical region, show that in the last three months of 2016, people spent approximately 30% of their income to cover their mortgage payments, whereas in 2007 as much as 48% of people's wages was used to pay the mortgages on their homes.

With comprehensive knowledge of the UK property marketplace, Springbok Properties has comprehensive knowledge all the current trends as stated by the Nationwide House Price Index. If you're unsure of how any Nationwide House Price Index data effects your property, or if you need to sell your home fast, call us TODAY on: 0800 068 4015.

How the Slowdown in Property Price Growth Affects Homeowners

The most recent Nationwide House Price Index property price growth figures paint a positive, if subdued impression of the UK property market. As predicted by property analysts, 2017 is likely to see a downturn in property price growth.

However, the Halifax Nationwide House Price Index revealed in a separate report that the number of first-time buyers is estimated to have risen by 7% in 2016 to 335,750 - the highest level since before the global financial crash.

The message is clear. Property prices are still on the increase, and there are plenty of people able to buy. Homeowners that need to sell their home quickly should feel encouraged by the Nationwide House Price Index figures for March. Let's not forget too that the more affordable a home is, the easiest it is to buy - and sell.

Springbok Properties has 8 years' experience selling homes across the UK fast. We sell more than 63% of homes in under a month, and have sold more than 1800 properties in under 10 days!

To find out more information about Nationwide House Price Index figures in your local area, or to list you home with a property company that has the expertise to guarantee a quick house sale, call Springbok Properties TODAY on: 0800 068 4015.

FREE Valuation