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01/12/2009
House Prices Rise By 0.5%
House prices rose by 0.5% in November, the same rate as in October, according to a new Nationwide report.
At £162,764, the average house price is at a similar level to where it was in early 2006. This suggests that house prices are rising at a more moderate rate than in the spring and summer months.
Martin Gahbauer, Nationwide's Chief Economist, said the labour market has held up better than expected but uncertainties remain.
He said: "With the UK experiencing its longest and deepest recession since WWII, most economists expected unemployment to increase very sharply in 2009, perhaps breaching the psychologically important three million mark by the end of the year. While unemployment has indeed increased noticeably, the rise has not been as rapid and pronounced as previously feared. Based on the latest labour market figures from September, it now looks unlikely that the jobless total will reach three million before the year is up."
The Nationwide believes mortgage rates have fallen sharply as a result of base rate cuts, this has meant that far fewer borrowers have fallen into arrears than would normally be the case in a recession.
Mr Gahbauer concluded: "In fact, the percentage of borrowers in arrears across the mortgage industry has even edged down slightly in the most recent quarterly figures. As such, the downward pressure on house prices from distressed sales has so far been significantly lower than expected."
(CD/GK)
At £162,764, the average house price is at a similar level to where it was in early 2006. This suggests that house prices are rising at a more moderate rate than in the spring and summer months.
Martin Gahbauer, Nationwide's Chief Economist, said the labour market has held up better than expected but uncertainties remain.
He said: "With the UK experiencing its longest and deepest recession since WWII, most economists expected unemployment to increase very sharply in 2009, perhaps breaching the psychologically important three million mark by the end of the year. While unemployment has indeed increased noticeably, the rise has not been as rapid and pronounced as previously feared. Based on the latest labour market figures from September, it now looks unlikely that the jobless total will reach three million before the year is up."
The Nationwide believes mortgage rates have fallen sharply as a result of base rate cuts, this has meant that far fewer borrowers have fallen into arrears than would normally be the case in a recession.
Mr Gahbauer concluded: "In fact, the percentage of borrowers in arrears across the mortgage industry has even edged down slightly in the most recent quarterly figures. As such, the downward pressure on house prices from distressed sales has so far been significantly lower than expected."
(CD/GK)
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House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
16 January 2007
Cooling house prices after interest rate hikes
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The latest figures on house price rises show that the market has cooled following the November interest rate rise.
07 September 2005
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
04 April 2014
House Prices Decline By -1.1%
House prices fell by -1.1% in March according to Halifax. This was the third monthly decline in the past 15 months. The monthly movements, however, can be volatile and the three month-on-three month change is a more reliable indicator of the underlying trend. However, house prices in the latest three months, January to March 2014, were 2.
House Prices Decline By -1.1%
House prices fell by -1.1% in March according to Halifax. This was the third monthly decline in the past 15 months. The monthly movements, however, can be volatile and the three month-on-three month change is a more reliable indicator of the underlying trend. However, house prices in the latest three months, January to March 2014, were 2.
29 February 2008
January House Prices Show Slight Increase
House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
January House Prices Show Slight Increase
House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
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Northern Ireland WeatherToday:A mostly cloudy start with scattered showers, the showers becoming more isolated and largely confined to the south this morning. Becoming brighter this afternoon, the best of any sunnier spells across northern counties. Northerly winds easing. Maximum temperature 12 °C.Tonight:A dry evening with late sunny spells and some long clear spells overnight. Becoming cloudier across the north towards dawn with a few showers possible. Touch of frost in south. Minimum temperature 0 °C.
