Nationwide issues warning to all UK homeowners amid activity

Prices were flat month on month in December, according to Nationwide, with average house prices ending the year at £257,443. He said: “There have been some encouraging signs for potential buyers recently, with mortgage rates edging down. "This shift in view is important, as it has brought down longer-term interest rates, which underpin fixed mortgage rate pricing. “Nevertheless, a rapid rebound in activity or house prices in 2024 appears unlikely. “It appears likely that a combination of solid income growth, together with modestly lower house prices and mortgage rates, will gradually improve affordability over time, with housing market activity remaining fairly subdued in the interim.