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01/09/2005
Fall in house prices reported
House prices fell by 0.2% in August, according to the latest figures from the Nationwide.
The building society said that the rate of annual house price growth had fallen to 2.3%; it’s lowest level in nine years.
Nationwide said that prices were experiencing a “continued controlled slowdown,” echoing the view of many experts that the UK property market is heading for a soft landing, rather than a dramatic price slump.
However, Nationwide Group Economist Fionnuala Earley said that the recent increase in mortgages approvals, announced by the Bank of England, along with last month’s interest rate cut had made the housing market more appealing to buyers and increased the numbers of enquiries.
Ms Earley said that Nationwide expected the housing market to cool in a controlled fashion, but she warned that the appearance of stabilisation in the market did not mean the beginning of sustained house price growth.
Ms Earley warned: “Even though wage inflation is almost twice the rate of house price inflation, affordability is still an issue particularly for first-time buyers, and it will take some time for the balance to be redressed.”
The release of Nationwide’s figures follow the publication of recent surveys from the Land Registry and the Office of the Deputy Prime Minister, which showed that annual house price inflation had dropped to 5%.
House price inflation was increasing at a rate of almost 20% a year ago.
(KMcA/SP)
The building society said that the rate of annual house price growth had fallen to 2.3%; it’s lowest level in nine years.
Nationwide said that prices were experiencing a “continued controlled slowdown,” echoing the view of many experts that the UK property market is heading for a soft landing, rather than a dramatic price slump.
However, Nationwide Group Economist Fionnuala Earley said that the recent increase in mortgages approvals, announced by the Bank of England, along with last month’s interest rate cut had made the housing market more appealing to buyers and increased the numbers of enquiries.
Ms Earley said that Nationwide expected the housing market to cool in a controlled fashion, but she warned that the appearance of stabilisation in the market did not mean the beginning of sustained house price growth.
Ms Earley warned: “Even though wage inflation is almost twice the rate of house price inflation, affordability is still an issue particularly for first-time buyers, and it will take some time for the balance to be redressed.”
The release of Nationwide’s figures follow the publication of recent surveys from the Land Registry and the Office of the Deputy Prime Minister, which showed that annual house price inflation had dropped to 5%.
House price inflation was increasing at a rate of almost 20% a year ago.
(KMcA/SP)
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12 December 2005
House price inflation drops
Annual house price inflation dropped again in October, according to the latest figures from the Office of the Deputy Prime Minister. House price inflation was 2.2% in October, a fall from September’s figure of 3.3%. The ODPM reported that the average house price in the UK was £186,103 in October, compared with £186,755 in September.
House price inflation drops
Annual house price inflation dropped again in October, according to the latest figures from the Office of the Deputy Prime Minister. House price inflation was 2.2% in October, a fall from September’s figure of 3.3%. The ODPM reported that the average house price in the UK was £186,103 in October, compared with £186,755 in September.
12 April 2005
UK house prices fall, report shows
UK house prices fell by 0.5% between January and February, figures from the Office of the Deputy Prime Minister (ODPM) have shown. The drop in prices, which saw the average house price in the UK in February fall to £179,491 from £180,465 in January, is smaller than the 1% fall reported in the same period last year.
UK house prices fall, report shows
UK house prices fell by 0.5% between January and February, figures from the Office of the Deputy Prime Minister (ODPM) have shown. The drop in prices, which saw the average house price in the UK in February fall to £179,491 from £180,465 in January, is smaller than the 1% fall reported in the same period last year.
13 August 2007
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.
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.
13 June 2005
House price inflation declines
Annual house price inflation dropped to 6.9% in April, a sharp fall from 12.6% in March, according to the latest figures from the Office of the Deputy Prime Minister (ODPM). The ODPM also reported a fall in mix-adjusted prices of 0.8% between March and April, which contrasted sharply with the 4.5% rise during the same period in 2004.
House price inflation declines
Annual house price inflation dropped to 6.9% in April, a sharp fall from 12.6% in March, according to the latest figures from the Office of the Deputy Prime Minister (ODPM). The ODPM also reported a fall in mix-adjusted prices of 0.8% between March and April, which contrasted sharply with the 4.5% rise during the same period in 2004.
14 February 2005
Drop in house prices reported over Christmas period
The latest government figures have shown that overall UK house prices fell in December last year by 0.7%, compared to a 2% rise in the same period last year. Figures published by the Office of the Deputy Prime Minister, showed that UK annual house price inflation in December 2004 was 10.7%, a drop from 13.7% in November.
Drop in house prices reported over Christmas period
The latest government figures have shown that overall UK house prices fell in December last year by 0.7%, compared to a 2% rise in the same period last year. Figures published by the Office of the Deputy Prime Minister, showed that UK annual house price inflation in December 2004 was 10.7%, a drop from 13.7% in November.
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