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09/10/2008
Record Decline For UK House Prices
UK house prices have fallen at a record rate during the year to the end of September, according to Britain's biggest mortgage lender.
The Halifax attributed the fall - which has seen house prices lose 13.2% of their value - as the biggest ever recorded by its house price index.
The drop means the annual fall now stands at 12.4%, with the cost of the average home in the UK now at £172,108.
Annual house price inflation, which measures prices during the previous three months compared with the same period a year ago, also dropped to a new record low.
Martin Ellis, chief economist at the Halifax, said: "House prices declined by 1.3% in September. The overall price decrease in the three months to September was very similar to that in the previous quarter, indicating that the trend rate of decline may be beginning to stabilise.
"The ongoing pressures on householders’ income, combined with the reduction in the availability of mortgage finance, however, mean that market conditions will remain challenging."
(JM/KMcA)
The Halifax attributed the fall - which has seen house prices lose 13.2% of their value - as the biggest ever recorded by its house price index.
The drop means the annual fall now stands at 12.4%, with the cost of the average home in the UK now at £172,108.
Annual house price inflation, which measures prices during the previous three months compared with the same period a year ago, also dropped to a new record low.
Martin Ellis, chief economist at the Halifax, said: "House prices declined by 1.3% in September. The overall price decrease in the three months to September was very similar to that in the previous quarter, indicating that the trend rate of decline may be beginning to stabilise.
"The ongoing pressures on householders’ income, combined with the reduction in the availability of mortgage finance, however, mean that market conditions will remain challenging."
(JM/KMcA)
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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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According to new figures from the Office for National Statistics (ONS), UK house prices reached a record high in August, standing at 185.8. The average house price is now at its highest since the house price index was established in 1968, peaking at £247,000, according to the ONS.
ONS Figures Show Record High For House Prices
According to new figures from the Office for National Statistics (ONS), UK house prices reached a record high in August, standing at 185.8. The average house price is now at its highest since the house price index was established in 1968, peaking at £247,000, according to the ONS.
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.
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