Market in good shape as spring approaches

Housing market activity has remained resilient in recent months despite ongoing affordability challenges says Nationwide. Cash transactions remained particularly robust with activity above pre-pandemic levels. The last 12 months have seen a gradual increase in the number of buy-to-let purchases involving a mortgage with rental increases and an easing in buy-to-let mortgage rates improving the ability to raise finance, although activity remains quite subdued compared to historic levels. Some cash purchases are also made by landlords and that activity in this space appears to have remained buoyant, although upcoming higher stamp duty changes and uncertainty relating to the regulatory environment, also appear to be having a cooling effect.