Menu
01/11/2005
House prices ‘rebound’ in October
House prices increased by 1.3% in October, according to the latest figures from the Nationwide building society.
The increase reverses the falls seen in August and September, bringing the annual growth rate to 3.3%.
Nationwide said that August’s interest rate cut – from 4.75% to 4.5% - seemed to be the key to the boost and activity in prices.
October’s rise saw the average price of a house in the UK increase to £157,107 from £152,159 the previous year, the Nationwide said. However, prices rose by just 0.2% in the three months to the end of October.
Nationwide said that consumers’ expectations of house prices were “consistent with a market adjusting to sustainable levels”.
Fionnuala Earley, Nationwide group economist, said that it was too early to say if the housing market had reached a turning point and if prices would continue to accelerate.
Ms Earley said that one of the reasons was the fact that affordability remained a problem. She said: “Affordability and overall debt levels will still have to adjust to more comfortable levels before we can expect any widespread increase in demand and, thus, prices.”
The publication of Nationwide’s figures follow Monday’s announcement by the Bank of England that the number of mortgage approvals had risen to its highest levels in 15 months.
(KMcA/SP)
The increase reverses the falls seen in August and September, bringing the annual growth rate to 3.3%.
Nationwide said that August’s interest rate cut – from 4.75% to 4.5% - seemed to be the key to the boost and activity in prices.
October’s rise saw the average price of a house in the UK increase to £157,107 from £152,159 the previous year, the Nationwide said. However, prices rose by just 0.2% in the three months to the end of October.
Nationwide said that consumers’ expectations of house prices were “consistent with a market adjusting to sustainable levels”.
Fionnuala Earley, Nationwide group economist, said that it was too early to say if the housing market had reached a turning point and if prices would continue to accelerate.
Ms Earley said that one of the reasons was the fact that affordability remained a problem. She said: “Affordability and overall debt levels will still have to adjust to more comfortable levels before we can expect any widespread increase in demand and, thus, prices.”
The publication of Nationwide’s figures follow Monday’s announcement by the Bank of England that the number of mortgage approvals had risen to its highest levels in 15 months.
(KMcA/SP)
Related UK National News Stories
Click here for the latest headlines.
30 May 2003
Nationwide predicts housing market fall
Nationwide predicts a marked fall in the housing market as first time buyers are stymied due to housing affordability and the squeeze on disposable incomes. Commenting on the figures, Nationwide's Group Economist Alex Bannister, said: "Annual house price inflation declined to 21.3% in May from 22.2% last month.
Nationwide predicts housing market fall
Nationwide predicts a marked fall in the housing market as first time buyers are stymied due to housing affordability and the squeeze on disposable incomes. Commenting on the figures, Nationwide's Group Economist Alex Bannister, said: "Annual house price inflation declined to 21.3% in May from 22.2% last month.
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.
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%.
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.
31 May 2012
UK House Prices Edge Up By 0.3% In May
The price of a typical UK house rose by 0.3% according to the latest Nationwide House Price Index. The price of typical home now stands at £166,022, but are 0.7%lower compared to last year.
UK House Prices Edge Up By 0.3% In May
The price of a typical UK house rose by 0.3% according to the latest Nationwide House Price Index. The price of typical home now stands at £166,022, but are 0.7%lower compared to last year.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
