After seven consecutive drops, UK house prices rose in April

LONDON: According to a recent Nationwide study, average property prices gained 0.5% last month after falling for seven consecutive months since September. (Reported by news source)

In light of this news, property expert and Group Chairman of Cornerstone Tax, David Hannah, explains why house prices rose in April and why he remains optimistic about the market.

 In comparison to 2019, the number of new sales agreements had increased by 11%. Despite experts' expectations for a 20% drop this year, the market has remained resilient, which Hannah says is a testament to its historical stability.

The UK property market has historically been more stable than any other worldwide market. Despite the common narrative of falls or even a crash, I expect to see low to mid to single-digit growth for the rest of the year. Despite the current negative forecasts, there is an underlying market pressure that is causing price increases.