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02/07/2014
UK House Prices Exceed 2007 Peak Value
UK house prices increased by 1% in June and were 11.8% higher compared to the same time last year, according to Nationwide.
Prices have surpassed their 2007 peak and all regions saw annual price gains in Q2.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "While all regions recorded annual price gains for the fourth quarter in a row, there is still significant variation across the UK, with the South of England continuing to record the strongest rates of growth. In particular, London continued to outperform, with prices up by almost 26% in Q2 compared to the same period of 2013.
"The price of a typical property in London reached the £400,000 mark for the first time, with prices in the capital now around 30% above their 2007 highs and more than twice the level prevailing in the rest of the UK when London is excluded. In the UK as a whole, prices are less than 1% above their pre-crisis peak. Excluding London they are 0.4% below peak."
(CVS/CD)
Prices have surpassed their 2007 peak and all regions saw annual price gains in Q2.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "While all regions recorded annual price gains for the fourth quarter in a row, there is still significant variation across the UK, with the South of England continuing to record the strongest rates of growth. In particular, London continued to outperform, with prices up by almost 26% in Q2 compared to the same period of 2013.
"The price of a typical property in London reached the £400,000 mark for the first time, with prices in the capital now around 30% above their 2007 highs and more than twice the level prevailing in the rest of the UK when London is excluded. In the UK as a whole, prices are less than 1% above their pre-crisis peak. Excluding London they are 0.4% below peak."
(CVS/CD)
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Northern Ireland WeatherToday:Cloudy with longer spells of rain during the morning, this rain heavy at times. Generally brighter in the afternoon, but with scattered and at times heavy showers. Maximum temperature 14 °C.Tonight:A mainly dry evening and night with isolated showers dying out and some longer clear spells. Then it will cloud over towards morning with some heavy showers. Minimum temperature 7 °C.
