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28/08/2008
House Prices Drop By 10.5%
House prices have dropped by 10.5% over the last year, according to the latest research by Nationwide Building Society.
The price of a typical house has fallen to £164,654, the fastest annual rate in almost 18 years.
Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said: "The price of a typical house fell by 1.9% in August, bringing the annual fall into double digits for the first time since the fourth quarter of 1990. While the pace of monthly falls picked up during the month, the less volatile three month on three month measure, eased very slightly in August to 4.5% from 4.6% in July."
House builders have also noticed significant reductions in site visits and reservations of new properties compared to this time last year, and they blame a lack of confidence in the market is the biggest reason behind the drop off in demand.
Ms Earley said: "Estate agents' data across all property types is a little more optimistic and suggests that there may be some glimmers of interest returning to the market. Agents report an improvement in new buyer enquiries, perhaps stimulated by the recent falls in prices and the opportunity to negotiate a good deal. However, the reported numbers of sales have not been encouraging. The ratio of sales to stocks has been a good predictor of movement in house prices. Current movements suggest that the increased supply of properties on agents’ books will continue to act as a dampener to house price growth in the short term."
See: NI Developer Cuts House Prices By 40%
The price of a typical house has fallen to £164,654, the fastest annual rate in almost 18 years.
Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said: "The price of a typical house fell by 1.9% in August, bringing the annual fall into double digits for the first time since the fourth quarter of 1990. While the pace of monthly falls picked up during the month, the less volatile three month on three month measure, eased very slightly in August to 4.5% from 4.6% in July."
House builders have also noticed significant reductions in site visits and reservations of new properties compared to this time last year, and they blame a lack of confidence in the market is the biggest reason behind the drop off in demand.
Ms Earley said: "Estate agents' data across all property types is a little more optimistic and suggests that there may be some glimmers of interest returning to the market. Agents report an improvement in new buyer enquiries, perhaps stimulated by the recent falls in prices and the opportunity to negotiate a good deal. However, the reported numbers of sales have not been encouraging. The ratio of sales to stocks has been a good predictor of movement in house prices. Current movements suggest that the increased supply of properties on agents’ books will continue to act as a dampener to house price growth in the short term."
See: NI Developer Cuts House Prices By 40%
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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.
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.
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.
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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