Menu
04/06/2002
House price rises outstrip market forecasts
The Halifax, the UK's biggest mortgage lender, has said that house prices in May grew at a record rate.
The monthly house price survey revealed that property prices grew by 4.2% in the period April to May this year. The average house price in the UK now stands at over £107,000, up 18.5% on the price of the average house this time last year.
The Halifax attributed the continuing upward spiral of house prices to low unemployment, low interest rates, and a property shortage in several crucial areas.
Property market analysts have had to rip up their early to mid-year forecasts for the sector as prices radically outstriped the Halifax's overly conservative estimates, which at one point were put at just 0.7% a month. Although rival mortgage lender the Nationwide were closer to the mark with a forecast of just over 3%, this figure seems modest compared to the final figure which passed 4%.
However, a Halifax spokesperson maintained that there would be a moderation of house price increases in the latter part of the year as the buoyant house market settled.
Analysts believes that the rampant price increases in the housing sector are likely to be a key factor if the Bank of England decide to raise interest rates due to inflationary pressures within the UK economy.
(SP)
The monthly house price survey revealed that property prices grew by 4.2% in the period April to May this year. The average house price in the UK now stands at over £107,000, up 18.5% on the price of the average house this time last year.
The Halifax attributed the continuing upward spiral of house prices to low unemployment, low interest rates, and a property shortage in several crucial areas.
Property market analysts have had to rip up their early to mid-year forecasts for the sector as prices radically outstriped the Halifax's overly conservative estimates, which at one point were put at just 0.7% a month. Although rival mortgage lender the Nationwide were closer to the mark with a forecast of just over 3%, this figure seems modest compared to the final figure which passed 4%.
However, a Halifax spokesperson maintained that there would be a moderation of house price increases in the latter part of the year as the buoyant house market settled.
Analysts believes that the rampant price increases in the housing sector are likely to be a key factor if the Bank of England decide to raise interest rates due to inflationary pressures within the UK economy.
(SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
03 August 2001
Halifax report house price rises dip in July
Rampant house price rises at the start of the year have shown their first dip according to a new survey released by the Halifax. In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off.
Halifax report house price rises dip in July
Rampant house price rises at the start of the year have shown their first dip according to a new survey released by the Halifax. In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off.
21 November 2005
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
03 January 2002
House price growth to slow in 2002
The property market is set to experience a slip in demand during 2002 according to leading UK mortgage lender Nationwide and a twice-yearly survey by the CBI and property advisers GVA Grimley. The Nationwide review of 2001 revealed that UK house prices grew significantly during 2001 despite the global economic slowdown.
House price growth to slow in 2002
The property market is set to experience a slip in demand during 2002 according to leading UK mortgage lender Nationwide and a twice-yearly survey by the CBI and property advisers GVA Grimley. The Nationwide review of 2001 revealed that UK house prices grew significantly during 2001 despite the global economic slowdown.
12 January 2004
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
06 April 2006
Halifax reports house price rises
House prices increased by 0.9% last month, according to the latest figures from the Halifax. The bank also said that the annual rate of house price inflation increased to 6.2%. The increases take the average cost of a property in Britain today to over £175,000 for the first time.
Halifax reports house price rises
House prices increased by 0.9% last month, according to the latest figures from the Halifax. The bank also said that the annual rate of house price inflation increased to 6.2%. The increases take the average cost of a property in Britain today to over £175,000 for the first time.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
