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03/08/2001
Halifax report house price rises dip in July
Rampant house price rises at the start of the year have shown their first dip according to a new survey released by the Halifax.
In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off. The average property price was put at £92,718, up from £84,556 in July 2000 – a rise of 9 per cent since last year.
Martin Ellis, Halifax's Group Economist, said: "House prices rose by 0.7 per cent in July the lowest monthly increase since January. The annual rate of house price inflation remained broadly unchanged at 9.6 per cent.
“The buoyancy in house prices is being driven by a combination of the recent series of mortgage rate cuts and healthy household confidence. Consumer sentiment has remained high notwithstanding the global economic slowdown, the recession in the UK manufacturing sector, and the fall in share prices. The continuing fall in unemployment and the record high level of unfilled job vacancies have been key factors underpinning this confidence so far this year.
“The UK economy, however, is not isolated from the deterioration in world economic conditions, and there are signs that the difficulties faced by manufacturers are spreading to the rest of the economy. Slower economic growth - apparent in the decline in gross domestic product growth in the second quarter - is likely to curb housing demand and cause house price inflation to ease over the coming months."
The housing sector often experiences a peak in house price rises in the summer months. While last year’s house price increases peaked at almost 16 per cent, it is thought unlikely that this year will see a repeat of this level of increases.
Even though certain areas in the South East England have rates approaching this level, most analysts expect the underlying trend for the year to average out at around 10 per cent.
(SP)
In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off. The average property price was put at £92,718, up from £84,556 in July 2000 – a rise of 9 per cent since last year.
Martin Ellis, Halifax's Group Economist, said: "House prices rose by 0.7 per cent in July the lowest monthly increase since January. The annual rate of house price inflation remained broadly unchanged at 9.6 per cent.
“The buoyancy in house prices is being driven by a combination of the recent series of mortgage rate cuts and healthy household confidence. Consumer sentiment has remained high notwithstanding the global economic slowdown, the recession in the UK manufacturing sector, and the fall in share prices. The continuing fall in unemployment and the record high level of unfilled job vacancies have been key factors underpinning this confidence so far this year.
“The UK economy, however, is not isolated from the deterioration in world economic conditions, and there are signs that the difficulties faced by manufacturers are spreading to the rest of the economy. Slower economic growth - apparent in the decline in gross domestic product growth in the second quarter - is likely to curb housing demand and cause house price inflation to ease over the coming months."
The housing sector often experiences a peak in house price rises in the summer months. While last year’s house price increases peaked at almost 16 per cent, it is thought unlikely that this year will see a repeat of this level of increases.
Even though certain areas in the South East England have rates approaching this level, most analysts expect the underlying trend for the year to average out at around 10 per cent.
(SP)
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03 January 2002
House price growth to slow in 2002
The property market is set to experience a slip in demand during 2002 according to leading UK mortgage lender Nationwide and a twice-yearly survey by the CBI and property advisers GVA Grimley. The Nationwide review of 2001 revealed that UK house prices grew significantly during 2001 despite the global economic slowdown.
House price growth to slow in 2002
The property market is set to experience a slip in demand during 2002 according to leading UK mortgage lender Nationwide and a twice-yearly survey by the CBI and property advisers GVA Grimley. The Nationwide review of 2001 revealed that UK house prices grew significantly during 2001 despite the global economic slowdown.
21 November 2005
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
04 June 2002
House price rises outstrip market forecasts
The Halifax, the UK's biggest mortgage lender, has said that house prices in May grew at a record rate. The monthly house price survey revealed that property prices grew by 4.2% in the period April to May this year. The average house price in the UK now stands at over £107,000, up 18.5% on the price of the average house this time last year.
House price rises outstrip market forecasts
The Halifax, the UK's biggest mortgage lender, has said that house prices in May grew at a record rate. The monthly house price survey revealed that property prices grew by 4.2% in the period April to May this year. The average house price in the UK now stands at over £107,000, up 18.5% on the price of the average house this time last year.
12 January 2004
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
08 January 2002
HBOS reveal further evidence of house price rises
The UK’s largest mortgage lender, HBOS has revealed that house prices in the UK rose at their fastest rate for two years in the last month of 2001. The group, which includes the Halifax Bank, said that the price of a UK home rose by just under three per cent in December and year on year, the rate of increase hit 15.5 per cent.
HBOS reveal further evidence of house price rises
The UK’s largest mortgage lender, HBOS has revealed that house prices in the UK rose at their fastest rate for two years in the last month of 2001. The group, which includes the Halifax Bank, said that the price of a UK home rose by just under three per cent in December and year on year, the rate of increase hit 15.5 per cent.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
