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27/08/2009
House Prices Continue To Rise
House prices rose across the UK by 1.6% in August according to the Nationwide.
At £160,224, the average price of a typical UK property is still slightly lower than a year ago, however the annual rate of change rose further in August, from -6.2% to -2.7%.
Martin Gahbauer, Nationwide's Chief Economist, believes lower interest rates have played a part in reversing the downward pressure on house prices.
Mr Gahbauer said: "Even though house prices remain high relative to earnings, the fall in interest rates has improved the affordability of mortgages for those looking to buy a home. This helps to explain the strong rise in new buyer enquiries reported by estate agents for most of 2009. Although not all of these enquiries are turning into sales, house purchase transactions have continued to slowly increase from the record lows reached in late 2008."
(CD/BMcC)
At £160,224, the average price of a typical UK property is still slightly lower than a year ago, however the annual rate of change rose further in August, from -6.2% to -2.7%.
Martin Gahbauer, Nationwide's Chief Economist, believes lower interest rates have played a part in reversing the downward pressure on house prices.
Mr Gahbauer said: "Even though house prices remain high relative to earnings, the fall in interest rates has improved the affordability of mortgages for those looking to buy a home. This helps to explain the strong rise in new buyer enquiries reported by estate agents for most of 2009. Although not all of these enquiries are turning into sales, house purchase transactions have continued to slowly increase from the record lows reached in late 2008."
(CD/BMcC)
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01 December 2009
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13 August 2007
House Prices Rise By 12% In June
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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.
10 June 2008
House Prices Continue To Fall
The housing market is offering little comfort for homeowners as house prices continue to fall. For many with mortgages, the value that has been borrowed could be greater than the value of the property.
House Prices Continue To Fall
The housing market is offering little comfort for homeowners as house prices continue to fall. For many with mortgages, the value that has been borrowed could be greater than the value of the property.
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