london skyline

United Kingdom Housing April 2021

United Kingdom: Annual house price growth accelerates in April

According to the Nationwide Building Society, house prices in the United Kingdom rose 2.1% month-on-month in April, contrasting March’s 0.3% contraction. On an annual basis, house prices were up 7.1%, above March’s 5.7% increase. April’s acceleration likely reflected the extension of the stamp duty holiday until later in the year, as well as improved consumer sentiment as the country moved out of lockdown.

Looking ahead, the housing market should remain robust in the near term, supported by the extension of the stamp duty holiday beyond March, and a new mortgage guarantee scheme to provide mortgages with minimal down payments.

On the outlook, Robert Gardner, chief economist at Nationwide, commented:

“Housing market activity is likely to remain fairly buoyant over the next six months […] given continued low borrowing costs and with many people still motivated to move as a result of changing housing preferences in the wake of the pandemic. With the stock of homes on the market relatively constrained, there is scope for annual house price growth to accelerate further […]. Further ahead, the outlook for the market is far more uncertain. If unemployment rises sharply towards the end of the year as most analysts expect, there is scope for activity to slow, perhaps sharply.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest