House Prices

The rate of house price growth in the UK cooled from 10.2% to 9.3% in the third quarter, according to the latest Nationwide Quarterly Regional House Price Report.

Commenting on the Nationwide figures Oliver Gilmartin RICS senior economist said: "Whilst monthly measures can bounce around the underlying trend remains downward and credit market turmoil is yet to show up on the balance sheet of households.

House prices defied gloomy expectations rising 0.7% in September, but the trend growth of house prices is now the lowest since July 2006, according to figures from the Nationwide Building Society.

House price growth turned negative in August as demand slowed sharply, says the latest RICS (Royal Institution of Chartered Surveyors) UK housing market survey.

Commenting on the Halifax data, RICS senior economist Oliver Gilmartin said; “The strength of recent house price data will mean that any talk of an interest rate cut remains premature, as the Bank of England attempt to slow the pace of economic growth and consumer spending into 2008.

House prices increased by 0.4% in August. This is the third month in the last four that house prices have grown by less than 0.5%, confirming that house price inflation is slowing, according to the latest Halifax House Price Index.

House prices in the UK have outperformed every country in the eurozone except Spain over the past five years, according to new research by Halifax.

Commenting on Nationwide house price figures, Oliver Gilmartin, RICS senior economist said: "Today's figures confirm the slowing trend in annual house price growth which is gripping the UK at the moment.

UK house prices increased by 0.6% during August, but the annual growth rate fell to 9.6% down from 9.9% in July, according to the latest Nationwide House Price Report.

Commenting on the Land Registry figures, RICS senior economist, David Stubbs said: "The housing slowdown continues to accelerate as homeowners and prospective buyers deal with the impact of five interest rate increases since last August

House prices in England and Wales exhibit slow monthly growth for residential property transactions that completed in July 2007, according to latest Land Registry data.

Five rounds of base interest rate increases are taking their toll on the housing market. The average property value of £218,033 in July was down by 4.65% on the month and up just 1.63% year-on-year.

Residential property prices in prime central London increased by 3.9% in July, the highest monthly rate of growth since 1976, according to the Knight Frank Prime Central London Residential Sales Index.

Modest monthly increases continue as average asking prices rise by 0.6% (£1,473), according to the Rightmove House Price Index.

Twenty university towns across the UK recorded an increase in house prices of 20% or more over the past year, close to double the nationwide increase of 11%, according to research from Halifax Estate Agents.

House prices across Scotland continue to rise, but the latest quarterly figures show a very mixed picture across the country, according to the latest Lloyds TSB Scotland House Price Monitor.

UK annual house price inflation in June 2007 was 12.1 per cent, up from 10.8 per cent in May 2007, according to figures from the Communities and Local Government. Annual house price inflation in London was 17.5 per cent in June, up from 14.3 per cent in May.

Recent statistics published by economic analysts, Oxford Economics are predicting that house prices will rise by 40% in the next 5 years, which is good news for UK property investors.

The percentage of new houses being developed in favour of flats has fallen by 25%, reveals the latest report from CB Richard Ellis and Hamptons International.

House prices increased by 0.7% in July, according to the latest Halifax House Price Index. This is the fourth consecutive month that house prices have grown by less than 1.0%, confirming that house price inflation is slowing.

House prices fall by about £1,000 for every additional minute of travel time outside the M25 on routes out of London, according to research by Savills. It also shows that commuter numbers and house prices are directly linked.

House price change in England and Wales remained positive for residential property transactions that completed in June 2007.

Prices of country houses grew by an average of 3.3% in the second quarter of the year leading to an annualised price growth of 11.6% for manor houses and 10.4% for all country houses, according to the latest Knight Frank Prime Country House Index.

Despite record prices reported in May, new home prices took a tumble in June, with their average price falling 0.3% since the previous month, according to SmartNewHomes.com.

Average national asking prices for homes in England and Wales rose by just 0.3% in July, the lowest monthly rise this year, according to rightmove.co.uk.