6th October 2015
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The latest Nationwide house price index saw property prices in London grow by 10.6% in the last year. Across the UK, property prices in the third quarter of 2015 were 3.7% higher than a year ago. Homeowners in outer London saw prices grow by 9.5%, while homes in Northern Ireland are now valued at 6.5% higher than last year. Only two regions saw house prices fall: the North West saw a 0.6% decline, while in Scotland prices were down 1.3%.
Robert Gardner, Nationwide’s chief economist, said that, after a sluggish performance over the summer, prices in London were again rising rapidly: “The slowdown in house price growth since the middle of 2014 has not been confined to, nor has it been driven primarily by, developments in London.
“Taking a wider view, regional house price performance was mixed in Q3. Eight UK regions recorded a slowdown in the annual rate of growth, while five saw acceleration. Most parts of the country continued to see annual house price gains – the exceptions were Scotland and the North West which both recorded small declines.”
All of this is very good news for homeowners, especially those considering Equity Release. Greater value in your property usually means that a larger amount of money can be released from it.
If you have any questions about the subject matter of this blog, or would like more information on any equity release related point, please do not hesitate to contact me in any of ways highlighted on this website.
Equity release is the answer to so many financial questions. If you would like to know more about it, and see if it could be the right move for you, please book an appointment or request a call-back
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