Nationwide report strongest start to the year since 2005
This week saw Nationwide publish their latest house price index, which revealed that annual property value growth increased to 11.2% in January – up from 10.4% in December – with a monthly change of 0.8%.
At an average house price of £255,556, the figures report the strongest start to the year for 17 years. In addition, Nationwide announced that the total number of property transactions in 2021 was the highest since 2007, and around 25% higher than in 2019.
Levelling Up white paper promises to boost home ownership
The long-awaited white paper on ‘levelling up’ was published on Wednesday, in which the Government sets out twelve ‘missions’ for improving life in the UK.
Levelling Up the United Kingdom contains commitments to provide funding for transforming brownfield sites in the North and Midlands, with Wolverhampton and Sheffield announced as the first of twenty areas to benefit from the regeneration programme.
The £1.5bn Levelling Up Home Building Fund will also be used to offer loans to SME builders, with a Social Housing Regulation Bill also implemented to provide more affordable homes across the country. The white paper also aims to increase the number of first time buyers in all areas, with renters having a “secure path” to home ownership.