Menu
06/11/2001
Halifax survey heralds fall in house prices
It has been revealed that house prices in the UK have fallen by 0.5 per cent in October in what is being heralded as the first signs of a slowdown in the UK property market.
The latest survey from the Halifax reports that house prices have fallen for the first time in almost twelve months, and the company’s chief economist, Martin Ellis, has described the news as indicating “a clear downward shift in the underlying trend”.
Mr Ellis said: "This is consistent with reports from estate agents and house-builders and the latest market figures on the number of mortgage approvals, which all show signs of a slowdown in housing market activity."
While the present drop in house prices is lower than the figure recorded for the same period in 2000, it is inevitable that the market will respond to the wider economic picture of the moment, following the downturn in the wake of the events of 11 September.
The Halifax figures also correspond to an survey recently published by the Nationwide, which also reported a fall of around 0.5 per cent in market prices. (CL)
The latest survey from the Halifax reports that house prices have fallen for the first time in almost twelve months, and the company’s chief economist, Martin Ellis, has described the news as indicating “a clear downward shift in the underlying trend”.
Mr Ellis said: "This is consistent with reports from estate agents and house-builders and the latest market figures on the number of mortgage approvals, which all show signs of a slowdown in housing market activity."
While the present drop in house prices is lower than the figure recorded for the same period in 2000, it is inevitable that the market will respond to the wider economic picture of the moment, following the downturn in the wake of the events of 11 September.
The Halifax figures also correspond to an survey recently published by the Nationwide, which also reported a fall of around 0.5 per cent in market prices. (CL)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
07 March 2002
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
17 August 2001
Economists fear house price bubble set to deflate
Leading economy analysts are concerned that the buoyant house prices driven by a speculative property investments market may be set to end. The warning will strike a poignant chord with house buyers in the early 1990s who found themselves faced with massive negative equity problems when house prices plunged to below the value of the mortgage.
Economists fear house price bubble set to deflate
Leading economy analysts are concerned that the buoyant house prices driven by a speculative property investments market may be set to end. The warning will strike a poignant chord with house buyers in the early 1990s who found themselves faced with massive negative equity problems when house prices plunged to below the value of the mortgage.
30 May 2002
Nationwide reveal further rise in UK house prices
The latest survey from the Nationwide Building Society has revealed that British house prices rose in May to their highest annual rate in 13 years. Overall, house prices rose by 2.1% during the month, taking their annual growth rate to 17.9% - the highest since the boom of the late 1980s.
Nationwide reveal further rise in UK house prices
The latest survey from the Nationwide Building Society has revealed that British house prices rose in May to their highest annual rate in 13 years. Overall, house prices rose by 2.1% during the month, taking their annual growth rate to 17.9% - the highest since the boom of the late 1980s.
30 August 2011
Pre Thatcher Home Ownership Levels 'To Return'
Home ownership levels are to fall to their lowest level since the 1980s, according to a study published on Tuesday. In its report, the National Housing Federation (NHF) said the housing market was "in crisis" as owner occupation rates tumbled and house prices and private rents soared. "Home ownership in England will slump to just 63.
Pre Thatcher Home Ownership Levels 'To Return'
Home ownership levels are to fall to their lowest level since the 1980s, according to a study published on Tuesday. In its report, the National Housing Federation (NHF) said the housing market was "in crisis" as owner occupation rates tumbled and house prices and private rents soared. "Home ownership in England will slump to just 63.
14 December 2010
'Agree Stormont Budget' Urges RICS
An important professional construction body has called on the NI Assembly to urgently put its 'house in order' and finalise a budget in order to slow the falling trend in local house prices.
'Agree Stormont Budget' Urges RICS
An important professional construction body has called on the NI Assembly to urgently put its 'house in order' and finalise a budget in order to slow the falling trend in local house prices.
-
Northern Ireland WeatherToday:A mild and breezy Christmas Day. Also rather cloudy but mainly dry with a few bright or sunny spells developing, more especially over parts of Antrim and County Down. Maximum temperature 12 °C.Tonight:Cloudy, mainly dry at first this evening but then occasional outbreaks of rain developing overnight. Light southwest winds, and staying mild. Minimum temperature 9 °C.
