The Nationwide Building Society has reported that the housing market remains resilient despite persistent affordability challenges. Throughout 2024, activity levels within the housing market showed consistent improvement, indicating a rebound in consumer confidence and demand.

By November 2024, house price growth had solidly entered positive territory, with annual growth nearing 4%. This marks a significant shift compared to the subdued performance observed in previous years, attributed largely to economic uncertainties and affordability constraints. The uptick in house price growth reflects a combination of factors, including steady employment levels, improved buyer sentiment, and gradual adjustments in mortgage rates, making property investment more appealing.

Looking ahead to 2025, Nationwide forecasts continued growth in house prices, projecting an increase broadly within the range of 2% to 4%. This outlook underscores the enduring strength of the housing market, supported by underlying demand and limited housing supply. However, affordability challenges remain a critical consideration, as rising costs of living and tighter lending criteria continue to shape market dynamics.

The resilience of the housing market highlights its adaptability amid changing economic conditions. While affordability concerns may temper activity for some buyers, strong fundamentals such as a stable labor market and ongoing demand for housing provide a robust foundation for future growth. Nationwide’s projections suggest cautious optimism, signaling opportunities for both buyers and sellers in the year ahead.

In summary, the Nationwide Building Society’s analysis points to a strengthening housing market, with positive growth trends expected to persist into 2025. Although challenges remain, the sector’s resilience offers a promising outlook for stakeholders navigating the evolving landscape.

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Also how you protect your mortgage payments? after all if you are entering into a contract with the Mortgage; in the event of illness the Mortgage how would you need paying.. How long can you afford to be off work? How long will sick pay support and keep your home and lifestyle?

We can help with life insurance, Mortgage protection, Critical illness Protection and income protection

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Your home may be repossessed if you do not keep up with your repayments.