Menu
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)
Related UK National News Stories
Click here for the latest headlines.
07 January 2005
Halifax announces surprise rise in house prices
The Halifax have announced that UK house prices rose by 1.1% in December, in spite of recent evidence which showed that the housing market in the UK is slowing down. The report concluded that there were "continuing signs of a genuine slowdown in the housing market". The Halifax stated that house prices in the final quarter of 2004 were only 0.
Halifax announces surprise rise in house prices
The Halifax have announced that UK house prices rose by 1.1% in December, in spite of recent evidence which showed that the housing market in the UK is slowing down. The report concluded that there were "continuing signs of a genuine slowdown in the housing market". The Halifax stated that house prices in the final quarter of 2004 were only 0.
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.
03 June 2010
House Prices Rise By 0.5%
House prices continued to rise by 0.5% in May, according to the latest survey by Nationwide. The average house price is £169,162, which is £15,000 higher than this time last year.
House Prices Rise By 0.5%
House prices continued to rise by 0.5% in May, according to the latest survey by Nationwide. The average house price is £169,162, which is £15,000 higher than this time last year.
29 February 2008
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.
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.
13 August 2007
House Prices Rise By 12% In June
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.
House Prices Rise By 12% In June
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.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy. Also mainly dry at first this evening but then occasional outbreaks of rain developing overnight. Light southwest winds, and staying mild. Minimum temperature 9 °C.
