Many close to the UK housing market are bullish in their expectations for the coming year, and that includes the building society, Nationwide. The year has gotten off to a strong start within the market and the momentum is thought to be able to carry on. Nationwide posted strong results for the 2014-15 fiscal year. The results included a 32% increase in underlying profit. More than 45,000 first time buyers were also reported to be assisted onto the property ladder.

The chief of Nationwide, Graham Beale, commented on the results, saying: “This is one of the strongest sets of results we have ever announced, demonstrating that, yet again, it is possible to build a successful business by doing the right thing.

“We have reached a level of profitability that will allow us to continue to invest in our business, to improve our members’ experience, and also to strengthen our balance sheet. This makes Nationwide one of the safest places on the high street for our members’ money.”

New accounts for the twelve months totaled almost half a million which is an increase of 9% over the year prior.

Beale added: “I think the market will be stronger this year. We had all sorts of competing tensions last year. Provided that borrowers don’t start to get concerned about the EU referendum, generally it’s a more stable environment. I think the mortgage market always performs well when you’ve got those market conditions.”

In addition to strong results from Nationwide, remortgage activity has started the year strong and is also expected to remain that way for several months.