House Prices

UK house prices were barely changed in January, recording a modest fall of 0.1% over the month on a seasonally adjusted basis, according to figures from the Nationwide Building Society.

House prices in England and Wales dropped 0.4 per cent in December, bringing the annual increase down to 6.7 per cent, according to data from the Land Registry.

House prices in 2007 Quarter 4 were 5.2% higher than in 2006 Quarter 4 with the average price of a home in the UK increasing by £9,821 over the year to £197,071, according to the Halifax House Price Index.

Leading internet property experts, Mouseprice.com, have launched a new, online, valuation system, which will provide free and instant estimates of the value of any home in England and Wales.

David Kuo, Head of Personal Finance at Fool.co.uk, says: “Conflicting data on the state of the housing market may leave homeowners, property sellers and prospective house buyers feeling confused.

The balance of surveyors reporting house price falls has reached levels not seen since the early nineties housing market correction, says latest RICS’ UK housing market survey.

December prime central London property prices showed a surprising increase over November with market growth of 1%; a reversal of trend shown in the previous two months, according to the latest Knight Frank Prime Central London Index.

Commenting on the Halifax house Price data, Simon Rubinsohn, RICS chief economist said: "The rise in Halifax house price index in December came as a surprise after three successive monthly declines.

House prices increased by 1.3% in December following three successive monthly falls, according to the latest Halifax House Price Index.

The annual rate of house price growth slowed in every part of the UK in the final quarter of 2007, bringing the average rate in the UK down from 9.3% to 6.9%, according to the Nationwide Building Society.

House prices in England and Wales increased 0.6 per cent in November with an annual increase of 8.1 per cent, according to figures from the Land Registry.

St Albans remains the most expensive town in the UK with an average house price of almost £350,000, according to a survey by the Nationwide Building Society.

UK house prices fell by a seasonally adjusted 0.5% in December, recording their second consecutive month-on-month fall, according to the Nationwide Building Society.

Montrose in Angus recorded the biggest house price increase (39%) in 2007, according to Halifax Estate Agents.

UK house prices fell by 1.1% in November, according to the latest Halifax House Price Index. In annual terms, house prices are 6.3% higher.

House prices fell by 0.8% in November, bringing the annual rate of increase down to 6.9, according to figures from the Nationwide Building Society.

House prices across Scotland continue to rise according to the latest Lloyds TSB Scotland House Price Monitor.

Economic tailwinds are turning into headwinds, as house price inflation is expected to drop from the current rate of 9.7% to 0% by this time next year, according to Nationwide’s house price forecast 2008.

House prices fell by 0.5% in October, according to the latest Halifax House Price Index. Overall, house prices in the three months to October were 0.3% higher than in the previous quarter. This continues the steady downward trend experienced since the end of 2006.

Armagh has recorded the biggest increase in house prices of any UK city over the past five years with a rise of 188%, according to research by Halifax Estate Agents.

Commenting on Nationwide house price figures, Simon Rubinsohn, RICS chief economist said: "The endless talk of the demise of the property market is, at the very least, a little premature.

House prices recorded a surprisingly strong increase of 1.1% in October, tying it with June for the highest month-on-month growth rate so far in 2007, according to figures from the Nationwide Building Society.

House price change in England and Wales has stayed positive for residential property transactions that completed in September 2007, according to figures from the Land Registry.

Latest figures indicating that house prices are beginning to ease should not be interpreted as an early indication of a housing market price crash, says Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association (IMLA).

House prices fell by 0.6% in September, bringing the average house price to £198,500, according to the latest Halifax House Price Index.