CEO comment – Nationwide House Price Index

Paresh Raja, CEO of Market Financial Solutions, said: “For all the negativity that seemed to swirl around the property market last year, this data from Nationwide is a timely reminder that the reality is often far more positive than the speculation and debate surrounding house prices.

“On the one hand, a change in government and ongoing economic uncertainty undoubtedly caused challenges for buyers and sellers in 2024. On the other hand, two cuts to the base rate by the Bank of England, and expectations that there are more to come in 2025, gave borrowers greater confidence to re-enter the market, boosting buyer demand. That the average house price rose by nearly 5% underlines the remarkable resilience of the property market.

“We are clearly entering the New Year with some positive momentum. If further interest rate cuts do materialise, this momentum should build further. As lenders, we must be on hand to support borrowers and brokers, delivering the right products with speed and flexibility to ensure the market as a whole can flourish in 2025.”