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30/05/2002
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.
Commenting on the figures Alex Bannister, Nationwide's group economist, said the boom showed few signs of running out of steam. He added: "There has been no slackening in the demand for property in May. UK property prices rose 2.1% in the month and annual house price inflation increased to 17.9% - the highest figure since 1989.
"The housing market is almost certainly going through a period when households are adjusting to low inflation and low mortgage rates. Certainly consumers appear willing to take on higher levels of mortgage debt even though their payments as a proportion of their pay will not erode as quickly as during the seventies and eighties.
"Long-term affordability relationships are changing which in turn may push house prices up stronger than cost of living inflation. Following this adjustment, house price growth should return to a more sustainable rate of between 4-5% per annum.
However, this period of adjustment may be protracted given the positive economic backdrop for borrowers and the considerable momentum in the market."
The number of completed house purchases rose by 27% year on year in May, the Nationwide said, and a corresponding surge in mortgage applications was seen as evidence that turnover will remain buoyant.
(MB)
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.
Commenting on the figures Alex Bannister, Nationwide's group economist, said the boom showed few signs of running out of steam. He added: "There has been no slackening in the demand for property in May. UK property prices rose 2.1% in the month and annual house price inflation increased to 17.9% - the highest figure since 1989.
"The housing market is almost certainly going through a period when households are adjusting to low inflation and low mortgage rates. Certainly consumers appear willing to take on higher levels of mortgage debt even though their payments as a proportion of their pay will not erode as quickly as during the seventies and eighties.
"Long-term affordability relationships are changing which in turn may push house prices up stronger than cost of living inflation. Following this adjustment, house price growth should return to a more sustainable rate of between 4-5% per annum.
However, this period of adjustment may be protracted given the positive economic backdrop for borrowers and the considerable momentum in the market."
The number of completed house purchases rose by 27% year on year in May, the Nationwide said, and a corresponding surge in mortgage applications was seen as evidence that turnover will remain buoyant.
(MB)
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Halifax report houses prices are continuing to rise
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Halifax report houses prices are continuing to rise
The latest figures released by leading mortgage lender Halifax have shown that the annual rate of house price inflation has hit 10.9 per cent. The Halifax, UK’s largest mortgage bank, also revealed that that house prices in August rose by 1.5 per cent, more than twice the increase seen in July.
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.
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.
27 September 2011
Irish Property Prices 'Down 1.6%'
Ireland's residential property prices have fallen by 1.6% in August, so say figures released by the Central Statistics Office (CSO). The CSO's monthly Residential Property Price Index revealed that overall house prices have fallen by 13.9% in the year to August. This compares with an annual rate of decline of 12.5% in July and a decline of 10.
Irish Property Prices 'Down 1.6%'
Ireland's residential property prices have fallen by 1.6% in August, so say figures released by the Central Statistics Office (CSO). The CSO's monthly Residential Property Price Index revealed that overall house prices have fallen by 13.9% in the year to August. This compares with an annual rate of decline of 12.5% in July and a decline of 10.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
