Published: 3rd April 2020
New figures released by the Nationwide Building Society this week provide further evidence that prior to the Coronavirus crisis, the UK Property market was continuing to build on the early gains made at the beginning of the year.
The figures released by the Nationwide showed annual UK house prices increased to 3% in March, up from 2.3% in February. The March figure of 3% represented the highest annual growth rate since January 2018, and added further evidence to the opinion that the UK property market was continuing to perform well following the Brexit and General Election period.
The figures were collated before the current Coronavirus crisis, which is certain to have an impact on the performance of the overall property market. However, it also lends credibility to the opinion that the fundamentals supporting the long term demand for property in the UK remain robust, which bodes well for a potential recovery once the current crisis is over.