The availability of homes in the property market is “pretty much at an all time low” and is creating pent up demand, Nationwide’s boss has warned.
The building society’s chief executive Joe Garner said that Brexit was partly to blame for holding back investment and dampening activity in the UK housing market.
“It’s important to distinguish between the mortgage market and the housing market. House prices remain relatively stable, [we’re] not predicting any major change to that, but the available stock of housing in the market is pretty much at an all time low,” he said. “[There’s] pent up demand with relatively few properties on the market.”
