Menu
07/12/2006
House price inflation increases
The annual rate of house price inflation has risen to 9.6% according to the latest set of figures from the Halifax.
The monthly change showed a 1.7% increase in November, which took the price of the average house in the UK to 187,995.
The report indicated that there are some signs of a likely cooling in housing market activity over the next few months. The market continues to be supported by strong fundamentals underpinned by a UK economy that has now recorded 57 successive quarters of growth.
Commenting, Halifax Chief Economist Martin Ellis said: "House prices increased by 1.7% in November. The marked slowing in real average earnings growth over the past six months, and a squeeze on households' discretionary income due to the substantial increase in utility bills during the last year, should temper housing demand. As a result, we expect house price inflation to ease over the coming months."
However, employment, a key factor determining housing demand, continues to rise. The number in employment increased by 56,000 in the three months to September compared with the previous quarter. A lack of supply is also expected to maintain upward pressure on house prices.
The latest RICS survey reported a fall in surveyors' confidence in the outlook for house sales for the third successive month and buyer enquiries are below the levels seen between May and August.
The House Builders' Federation reported an annual fall in the numbers looking at new homes for the third successive month in October.
(SP/KMcA)
The monthly change showed a 1.7% increase in November, which took the price of the average house in the UK to 187,995.
The report indicated that there are some signs of a likely cooling in housing market activity over the next few months. The market continues to be supported by strong fundamentals underpinned by a UK economy that has now recorded 57 successive quarters of growth.
Commenting, Halifax Chief Economist Martin Ellis said: "House prices increased by 1.7% in November. The marked slowing in real average earnings growth over the past six months, and a squeeze on households' discretionary income due to the substantial increase in utility bills during the last year, should temper housing demand. As a result, we expect house price inflation to ease over the coming months."
However, employment, a key factor determining housing demand, continues to rise. The number in employment increased by 56,000 in the three months to September compared with the previous quarter. A lack of supply is also expected to maintain upward pressure on house prices.
The latest RICS survey reported a fall in surveyors' confidence in the outlook for house sales for the third successive month and buyer enquiries are below the levels seen between May and August.
The House Builders' Federation reported an annual fall in the numbers looking at new homes for the third successive month in October.
(SP/KMcA)
Related UK National News Stories
Click here for the latest headlines.
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.
01 September 2005
Fall in house prices reported
House prices fell by 0.2% in August, according to the latest figures from the Nationwide. The building society said that the rate of annual house price growth had fallen to 2.3%; it’s lowest level in nine years.
Fall in house prices reported
House prices fell by 0.2% in August, according to the latest figures from the Nationwide. The building society said that the rate of annual house price growth had fallen to 2.3%; it’s lowest level in nine years.
12 December 2005
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.
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.
06 July 2006
Halifax reports house price drop
House prices fell by 1.2% during June, the Halifax has reported. The fall, the biggest monthly reduction in prices since October 2000, has been attributed to householders' facing rising utility and council tax bills. The Halifax said that the fall suggested that "the heat is coming out of the market".
Halifax reports house price drop
House prices fell by 1.2% during June, the Halifax has reported. The fall, the biggest monthly reduction in prices since October 2000, has been attributed to householders' facing rising utility and council tax bills. The Halifax said that the fall suggested that "the heat is coming out of the market".
08 March 2006
House prices continue to rise
House prices are continuing to rise, the Halifax Bank has reported. The Halifax reported that house prices increased by 1.4% in February, pushing the annual rate of house price inflation to 5.5%. The average house price in the UK is now £173,498, the Halifax said.
House prices continue to rise
House prices are continuing to rise, the Halifax Bank has reported. The Halifax reported that house prices increased by 1.4% in February, pushing the annual rate of house price inflation to 5.5%. The average house price in the UK is now £173,498, the Halifax said.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
