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29/07/2005
House prices 'resilient' in static market
Nationwide has reported "resiliency" in house prices despite economic uncertainty in a "softening" housing market.
The latest survey from the Nationwide showed that house prices had risen by 0.2% reversing a 0.2% price decline in June.
Commenting on the figures Fionnuala Earley, Nationwide's Group Economist, said: “House prices bounced back in July, increasing by 0.2% and reversing the fall in June. However, the overall picture remains one of a gently softening market.
"The annual rate of house price inflation fell to 2.6% in July - its lowest rate since May 1996. This compares with a rate of 4.1% last month and more than 20% this time last year."
"The price of a typical house in the UK is now £158,348," she said.
The survey revealed that housing market activity was showing some signs of a recovery.
“During the month several indicators have suggested that housing market activity is improving slightly, albeit remaining at levels significantly lower than last year," said Ms Earley. "The number of house purchase approvals has picked up steadily since the start of the year, reaching a seasonally adjusted 96,000 in May, up from 83,000 in January. Early indications suggest that there may be another small increase in official data for June, as estate agents report increased buyer activity and some softening on the part of sellers with respect to expectations on sales prices.
"This could be the start of some unwinding of the stalemate between buyers and sellers and see the return of some liquidity to the market."
Meanwhile, the National Association of Estate Agents (NAEA) recently reported that there were a record number of properties on agent’s books in the second quarter of this year, making it a "buyer’s market".
NAEA reported that on average estate agents had 78 properties on their books in Q2 this year, compared to 55 in Q2 last year, an increase of 29.4%. House prices have remained largely static.
NAEA President Chris Hall said: “The survey does confirm, however, that buyers should still be able to negotiate an average of 4.5% below the asking price”
The Halifax has warned that house prices could fall by up to 2% and investment bank Morgan Stanley indicated that a drop of 5% was possible.
(SP/KMcA)
The latest survey from the Nationwide showed that house prices had risen by 0.2% reversing a 0.2% price decline in June.
Commenting on the figures Fionnuala Earley, Nationwide's Group Economist, said: “House prices bounced back in July, increasing by 0.2% and reversing the fall in June. However, the overall picture remains one of a gently softening market.
"The annual rate of house price inflation fell to 2.6% in July - its lowest rate since May 1996. This compares with a rate of 4.1% last month and more than 20% this time last year."
"The price of a typical house in the UK is now £158,348," she said.
The survey revealed that housing market activity was showing some signs of a recovery.
“During the month several indicators have suggested that housing market activity is improving slightly, albeit remaining at levels significantly lower than last year," said Ms Earley. "The number of house purchase approvals has picked up steadily since the start of the year, reaching a seasonally adjusted 96,000 in May, up from 83,000 in January. Early indications suggest that there may be another small increase in official data for June, as estate agents report increased buyer activity and some softening on the part of sellers with respect to expectations on sales prices.
"This could be the start of some unwinding of the stalemate between buyers and sellers and see the return of some liquidity to the market."
Meanwhile, the National Association of Estate Agents (NAEA) recently reported that there were a record number of properties on agent’s books in the second quarter of this year, making it a "buyer’s market".
NAEA reported that on average estate agents had 78 properties on their books in Q2 this year, compared to 55 in Q2 last year, an increase of 29.4%. House prices have remained largely static.
NAEA President Chris Hall said: “The survey does confirm, however, that buyers should still be able to negotiate an average of 4.5% below the asking price”
The Halifax has warned that house prices could fall by up to 2% and investment bank Morgan Stanley indicated that a drop of 5% was possible.
(SP/KMcA)
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Halifax reports house prices rise
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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.
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House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
January House Prices Show Slight Increase
House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
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House price inflation drops
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House price inflation drops
Annual house price inflation dropped again in October, according to the latest figures from the Office of the Deputy Prime Minister. House price inflation was 2.2% in October, a fall from September’s figure of 3.3%. The ODPM reported that the average house price in the UK was £186,103 in October, compared with £186,755 in September.
12 April 2005
UK house prices fall, report shows
UK house prices fell by 0.5% between January and February, figures from the Office of the Deputy Prime Minister (ODPM) have shown. The drop in prices, which saw the average house price in the UK in February fall to £179,491 from £180,465 in January, is smaller than the 1% fall reported in the same period last year.
UK house prices fall, report shows
UK house prices fell by 0.5% between January and February, figures from the Office of the Deputy Prime Minister (ODPM) have shown. The drop in prices, which saw the average house price in the UK in February fall to £179,491 from £180,465 in January, is smaller than the 1% fall reported in the same period last year.
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