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02/10/2008
House Prices Fall By 1.7%
UK house prices dropped by 1.7% in September leaving the average property costing £161,797 according to figures by the Nationwide Building Society.
Overall house prices have fallen 12.4% in a year, however Nationwide said prices will continue to drop in short term but longer prospects are more sound.
Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said: "House prices now are over 60% higher in real terms than they were at the start of the decade, even taking into account the falls since last October.
"Even if prices fall over the next couple of years, at the trough that would still leave prices more than a fifth higher in real terms than at the start of the decade. Although price falls are not painless, they do contribute to restoring housing affordability to more sustainable levels, which is positive for the market over the long term."
Ms Earley concluded: "Although the next year or two will be difficult, over time the global economy will recover from current difficulties, helping to end the cyclical downturn in property markets."
(CD/JM)
Overall house prices have fallen 12.4% in a year, however Nationwide said prices will continue to drop in short term but longer prospects are more sound.
Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said: "House prices now are over 60% higher in real terms than they were at the start of the decade, even taking into account the falls since last October.
"Even if prices fall over the next couple of years, at the trough that would still leave prices more than a fifth higher in real terms than at the start of the decade. Although price falls are not painless, they do contribute to restoring housing affordability to more sustainable levels, which is positive for the market over the long term."
Ms Earley concluded: "Although the next year or two will be difficult, over time the global economy will recover from current difficulties, helping to end the cyclical downturn in property markets."
(CD/JM)
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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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UK inflation rate falls to 1.1%
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House Prices Drop By 14.7%
House prices in the UK have fallen by a staggering 14.7% according to the Nationwide. Nationwide said prices fell by another 2.5% in December taking the average house price down to £153,048. The company said that prices have now fallen for 14 months and they are 18% lower than their peak in October 2007.
House Prices Drop By 14.7%
House prices in the UK have fallen by a staggering 14.7% according to the Nationwide. Nationwide said prices fell by another 2.5% in December taking the average house price down to £153,048. The company said that prices have now fallen for 14 months and they are 18% lower than their peak in October 2007.
04 April 2014
House Prices Decline By -1.1%
House prices fell by -1.1% in March according to Halifax. This was the third monthly decline in the past 15 months. The monthly movements, however, can be volatile and the three month-on-three month change is a more reliable indicator of the underlying trend. However, house prices in the latest three months, January to March 2014, were 2.
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House prices fell by -1.1% in March according to Halifax. This was the third monthly decline in the past 15 months. The monthly movements, however, can be volatile and the three month-on-three month change is a more reliable indicator of the underlying trend. However, house prices in the latest three months, January to March 2014, were 2.
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