- Nationwide reported "steady" house price growth in February, with a 0.3 per cent month-on-month rise and a 1.0 per cent annual increase, bringing the average UK house price to £273,176.
- The building society anticipates increased housing market activity and a modest recovery in the coming quarters, supported by improving affordability and an easing in credit availability.
- Experts suggest that while geopolitical uncertainties could impact inflation and interest rate expectations, the broader trend points towards easing monetary policy.
- Many borrowers face refinancing fixed-rate mortgages at higher interest rates, which will pressure disposable incomes, though they have avoided the worst of the mortgage crisis.
- Despite some competitive mortgage offerings, the market remains subdued, with a significant uplift in house prices unlikely until further Bank of England rate cuts are clearly evidenced.
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