The Nationwide bank’s monthly property prices survey suggests that property prices across the UK are remaining very static, having fallen 0.2% in the past month.
Whilst this might look like bad news, after a few years of uncertainty in the property market, I’d suggest that many property owners will take stability over runaway inflation or contraction of property prices. I’d also suggest that it’s very difficult to make a much broader analysis of the property market or property price trends from this survey.
For a start, Nationwide’s finding are based on a survey of its own customers and not the whole market. Secondly, it is a UK-wide statistic and ignores regional variation. Thirdly, 0.2% one way or another is hardly a statistic that will put hope or fear into most people’s minds.
So, to steal someone else’s words, Keep Calm and Carry On and let’s see what other statistics come to light this coming month and year!