Menu
01/08/2012
UK House Prices Decline Further
The price of a typical UK house fell by 0.7% in July, according to Nationwide.
Prices were 2.6% lower than one year ago and the typical price of a home was £164,389.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "UK house prices declined for the fourth time in five months in July, with prices falling by 0.7%. This pushed the annual pace of price growth down to -2.6%, from -1.5% in June - the weakest outturn since August 2009.
"The weaker price trend observed in recent quarters is unsurprising, given the disappointing performance of the wider economy. Data released last week revealed that the UK recession intensified in the three months to July, with the economy contracting by 0.7% q/q. This disappointing outturn can be only partly explained by unusually wet weather and the impact of an extra bank holiday during the quarter. Indeed, the UK economy has contracted by 1.4% over the past nine months, and is now 4.5 percentage points smaller than it was in Q1 2008."
(CD/GK)
Prices were 2.6% lower than one year ago and the typical price of a home was £164,389.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "UK house prices declined for the fourth time in five months in July, with prices falling by 0.7%. This pushed the annual pace of price growth down to -2.6%, from -1.5% in June - the weakest outturn since August 2009.
"The weaker price trend observed in recent quarters is unsurprising, given the disappointing performance of the wider economy. Data released last week revealed that the UK recession intensified in the three months to July, with the economy contracting by 0.7% q/q. This disappointing outturn can be only partly explained by unusually wet weather and the impact of an extra bank holiday during the quarter. Indeed, the UK economy has contracted by 1.4% over the past nine months, and is now 4.5 percentage points smaller than it was in Q1 2008."
(CD/GK)
Related UK National News Stories
Click here for the latest headlines.
12 October 2010
UK Inflation Remains At Current Rate
According to the Office for National Statistics (ONS), UK Consumer Prices Index (CPI) inflation remained unchanged at 3.1% in September. Including a higher proportion of housing costs, the Retail Prices Index (RPI), fell back slightly to 4.6%.
UK Inflation Remains At Current Rate
According to the Office for National Statistics (ONS), UK Consumer Prices Index (CPI) inflation remained unchanged at 3.1% in September. Including a higher proportion of housing costs, the Retail Prices Index (RPI), fell back slightly to 4.6%.
04 April 2014
House Prices Decline By -1.1%
House prices fell by -1.1% in March according to Halifax. This was the third monthly decline in the past 15 months. The monthly movements, however, can be volatile and the three month-on-three month change is a more reliable indicator of the underlying trend. However, house prices in the latest three months, January to March 2014, were 2.
House Prices Decline By -1.1%
House prices fell by -1.1% in March according to Halifax. This was the third monthly decline in the past 15 months. The monthly movements, however, can be volatile and the three month-on-three month change is a more reliable indicator of the underlying trend. However, house prices in the latest three months, January to March 2014, were 2.
10 September 2009
House Prices Increase By 0.8%
House prices have increased by 0.8% in August according to the Halifax. This was the second successive monthly rise and the fourth in the first eight months of this year. Martin Ellis, Housing Economist, said: "Overall, house prices nationally are very similar to the level at the end of last year.
House Prices Increase By 0.8%
House prices have increased by 0.8% in August according to the Halifax. This was the second successive monthly rise and the fourth in the first eight months of this year. Martin Ellis, Housing Economist, said: "Overall, house prices nationally are very similar to the level at the end of last year.
07 September 2005
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
17 April 2012
UK House Prices Rise
In the year to February 2012, UK house prices increased by 0.3 per cent, according to the Office of National Statistics (ONS). The average UK mix-adjusted house price was £224,473. Average house prices increased in both England and Scotland by 0.4 per cent and 1.1 per cent respectively.
UK House Prices Rise
In the year to February 2012, UK house prices increased by 0.3 per cent, according to the Office of National Statistics (ONS). The average UK mix-adjusted house price was £224,473. Average house prices increased in both England and Scotland by 0.4 per cent and 1.1 per cent respectively.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
