The latest numbers from Nationwide House Price Index have been released showing a 3.5% annual change and bumping up the average house price across the UK to £207,308 in March from £205,846 in February.
Conveniently, coincidental for those trying to talk down the market that prices should fall during the month Article 50 was triggered.
Although an air of uncertainty on the run up to Wednesday’s formal process may have left a few buyers on the fence, it is unlikely to have had any direct impact itself.
Unusual to see a seasonal adjustment of this nature heading into the Spring but definitely a consequence of a spike in the private rental sector.
Although the market remains healthy which is great news for existing homeowners, those facing the sizeable task of climbing the UK ladder are opting to concede and rent. Not just those at the first rung, but seemingly the third and fourth as well.Russell Quirk