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30/09/2014
Annual Rate Of House Price Growth Slows
A new report has revealed the annual rate of house price growth slowed in September to 9.4%. This is a fall from 11% the previous month.
The findings, released by Nationwide, said that on a monthly basis, prices had fallen by 0.2%. This is the first time a decrease has been recorded since April 2013.
Various regions of the UK also saw house rates vary. For example, London and the South continues to lead the market prices, with prices in the capital said to be 31% higher than those from the last peak of the market in 2007. Elsewhere, prices remain just 1% above pre-recession levels.
In general, the building society said average house prices throughout the UK had fallen to £188,374. In London, the average cost of a house is £401,072.
In addition, while monthly figures showed house prices declined, they still rose by 1.5% over the quarter.
Robert Gardner, Chief Economist at Nationwide, commented: "While September saw a slowing in house price growth, the picture on a quarterly basis (July, August and September combined) was still relatively strong, with all thirteen UK regions recording annual price gains."
However, he added: "The outlook remains uncertain. There have been tentative signs from surveyors and estate agents that buyer demand may be starting to moderate, but the low level of interest rates and strong labour market suggest that underlying demand is likely to remain robust."
(JP/CD)
The findings, released by Nationwide, said that on a monthly basis, prices had fallen by 0.2%. This is the first time a decrease has been recorded since April 2013.
Various regions of the UK also saw house rates vary. For example, London and the South continues to lead the market prices, with prices in the capital said to be 31% higher than those from the last peak of the market in 2007. Elsewhere, prices remain just 1% above pre-recession levels.
In general, the building society said average house prices throughout the UK had fallen to £188,374. In London, the average cost of a house is £401,072.
In addition, while monthly figures showed house prices declined, they still rose by 1.5% over the quarter.
Robert Gardner, Chief Economist at Nationwide, commented: "While September saw a slowing in house price growth, the picture on a quarterly basis (July, August and September combined) was still relatively strong, with all thirteen UK regions recording annual price gains."
However, he added: "The outlook remains uncertain. There have been tentative signs from surveyors and estate agents that buyer demand may be starting to moderate, but the low level of interest rates and strong labour market suggest that underlying demand is likely to remain robust."
(JP/CD)
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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.
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House price rise slowdown continues
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House price rise slowdown continues
Annual house price inflation in July was 4%, down from 5% in June according to figures released today by the Deputy Prime Minister's office. This drop in the growth of house prices pushed the annual house price inflation in London down to 0.9% in July 2005, a fall from the from 1.7% figure in June 2005.
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