Nationwide HPI – hopeful signs of renewed activity – comment from Gary Barker, CEO, Reapit

Following today’s Nationwide house price index, Gary Barker, CEO, Reapit, said he sees the hopeful signs of renewed activity: “An extension to the Brexit negotiations has caused buyers and sellers to become tired of waiting out the political uncertainty, and we are seeing signs of renewed activity as illustrated by today’s Nationwide House Price Index.

“Ultimately, people need to move home and housing needs outweigh uncertainty. We’re already seeing an uptick in activity as highlighted in the recent Rightmove report, suggesting that the family home sector was outperforming other sectors in key areas such as holding their value better and seeing a greater willingness to come to market.

“The government must now look beyond Brexit to encourage movement in the market. Stamp duty taxes are deterring second-steppers and downsizers, while affordability remains a key concern for many first-time buyers. Addressing issues of supply and incentivising movement in the market will prove essential for the future of the sector.”