Jason Tebb, Group Chief Operating Officer of Go Develop comments on the Nationwide House Price Index:
“With house price growth showing a positive reading in January both on a monthly and annualised basis, albeit only modest, the market is demonstrating a level of resilience to the ongoing uncertainty Brexit. Whilst the current political environment is likely to have given discretionary movers pause for thought, it’s clear that there are still motivated buyers out there who need to move due to their individual circumstances, proving that life still goes on, despite the headlines.
Once a way forward around our departure from the EU is clarified, we are expecting to see the pent-up buyer demand that has been building over the last year or so contribute to increased transaction levels, as consumers who have ‘waited to see’ are likely to create a busier market for 2019 than we’ve seen for some time. This translates to our increased capital commitment for this year, as we continue to support SME developers who are seeking an innovative joint venture model to take advantage of the opportunities such an outlook provides.”