House prices take a breather but the gap between housing supply and demand widens

House prices take breather, despite increasing S+D gap

Comment on Nationwide’s latest House Price Index for the month of November.

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Jan Crosby, UK Head of Housing at KPMG, said:

“Average house prices continue to creep up year-on-year, albeit that the annual growth revealed this month slowed somewhat when compared to the rate noted in October. Month-on-month, the average house price in the UK appears to have stagnated a little, growing only 0.1% in November and no growth the month before. 

“Whilst house prices take a breather in their climb, you might think it offers would-be buyers a chance to catch up, but in reality the chase is still very much on. The gap between supply and demand is only set to widen and this will be accompanied by increased prices in the long-run. 

“The Autumn Statement has come and gone, with no silver bullet to curb the UK housing problem. Hopes were pinned on the much anticipated housing white-paper due to be published imminently, but seemingly it appears this has been delayed until next year. Meanwhile the housing problem continues to grow.”

Ends

For further information please contact:

Simon Wilson, KPMG Corporate Communications

T: 0207 311 6651

M: 0778 537 3397

E: simon.wilson@kpmg.co.uk

KPMG Press Office:  +44 (0) 207 694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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