The housing market has been a source of concern for many in recent years, but there are signs that the market is beginning to recover. Nationwide, one of the largest mortgage lenders in the United Kingdom, recently reported that house prices have increased by 0.5% in the last quarter. This is the first time since the start of the financial crisis that house prices have risen on a quarterly basis.
The news is a welcome sign for those who have been struggling with the housing market. The increase in house prices means that people who were previously unable to afford to buy a home may now be able to do so. It also means that those who already own a home may be able to sell it for more than they originally paid for it.
The increase in house prices is being attributed to a number of factors. Low interest rates have made mortgages more affordable, while the government’s Help to Buy scheme has provided assistance to those who are looking to purchase a home. Additionally, there has been an increase in the number of people looking to buy a home, as more people become confident in their financial situation.
It is important to note that the increase in house prices is not uniform across the country. In some areas, house prices are still falling, while in others they are rising at a faster rate than the national average. This means that it is important for prospective buyers and sellers to research the local market before making any decisions.
Overall, the news from Nationwide is encouraging and suggests that the housing market may be on the road to recovery. However, it is important to remember that the market can be volatile and that there are no guarantees when it comes to house prices. Those who are looking to buy or sell a home should do their research and seek professional advice before making any decisions.