Nationwide House Price Index – Industry reacts as house price growth hits 15 year high

Managing Director of StripeHomes, James Forrester, commented:

“The largest monthly gain in 15 years tells you all you need to know about the current health of the UK property market and it’s now abundantly clear that the tapered end of the stamp duty holiday isn’t going to be the significant event that many predicted in terms of its impact on property values.

While it certainly spurred a revival in homebuyer demand, this increased intent to purchase has been driven by a desire to own our own homes, not to save a few thousand pounds, and this desire will continue to burn long after the final deadline has expired at the end of September.”

Director of Benham and Reeves, Marc von Grundherr, commented:

“We’re seeing no let up in the extreme levels of house price growth seen in recent months. These hot market conditions are likely to remain beyond the summer months and well into autumn as we enter what is traditionally one of the busiest times of the year for the UK market.

Of course, a slight dip can be expected come the end of the year. But those running for the hills at the first sight of a marginal monthly decline will do well to remember that even the best performing markets are subject to seasonal influences.”

Founder and CEO of GetAgent.co.uk, Colby Short, commented:

“We’re simply not seeing the market decline that many expected, both as a result of the stamp duty holiday being phased out, and the wider economic influence of increasing unemployment levels.

This is undoubtedly due to the continued imbalance between current demand and the level of stock available to satisfy the appetite of the nation’s homebuyers. While these two factors remain out of kilter, house prices will continue to climb.”