Housing market still strong, says Stubbs

David Stubbs, RICS economist, says the Nationwide house price figures show the market is buoyant.

Stubbs says: “The housing market remains strong, supported by a strong economy, rapid population growth and investor demand. Affordability and accessibility to the market, for first time buyers, is worsening as prices and interest rates rise and will continue to do so. The Housing market’s continued strength is likely to increase the pressure on the Bank of England to raise interest rates again before the end of the year.”