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Latest House Price Forecasts and Predictions in the UK


Current UK House Prices Situation: Average prices falling nationally

UK House Prices Forecast: At least 5% fall by the end of 2008

First Annual Fall since 1996 - Nationwide

The UK's largest building society, Nationwide, has announced that house prices have fallen year-on-year for the first time since March 1996.

April saw the price of an average home fall by 1.1% from March, bringing the annual level of house price inflation down to -1.0%.

Commenting on the figures, Nationwide Chief Economist Fionnuala Earley said that "April’s fall in prices continues the trend of the last six months and reflects the weakening sentiment in the market brought about by poor affordability and tighter financial market conditions."

Earley went on to say that the "steep decline in purchase transactions over the last half year" has resulted in stocks of unsold houses rising, putting buyers in a much stronger bargaining position. "Higher mortgage rates and tighter lending criteria" have also led to mortgage approvals falling to "record lows", she said.

Halifax Confirms Falling Prices - Down 1.3% in April

The latest Halifax House Price Survey, published on the 2nd May, confirms that house prices are falling in the UK.

The Halifax figures show that average house prices fell by 1.3% in April, bringing the annual rate of change down to -0.9%.

Martin Ellis, Chief Economist at the Halifax, commented that the bank now expects "mid single digit percentage decline in UK house prices this year." Ellis noted that there would be some regional variations, with areas such as Wales and the West Midlands likely to see "falls above the national average", while Scotland might escape price falls altogether.

Ellis also noted that falling house prices are being driven not just by lending restrictions but by a growing squeeze on incomes - with average earnings rising by just 3.7% in the year to February, "below the 4.1% increase in the headline rate of inflation in the same period." In other words, people are earning less in real terms, hence the need for a downwards adjustment to house prices.

 




 


 

 

Read our take on the Credit Crisis the effect on UK House Prices and Mortgages. A Special Report




 






 




 


 





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House Prices Forecasts and Predictions to 10/10/2006

House Prices Forecasts and Predictions to 27/10/2006

House Prices Forecasts and Predictions to 3/11/2006

House Prices Forecasts and Predictions to 7/11/2006

House Prices Forecasts and Predictions to 22/11/2006

House Prices Forecasts and Predictions to 27/11/2006

House Prices Forecasts and Predictions to 3/12/2006

House Prices Forecasts and Predictions to 10/12/2006

House Prices Forecasts and Predictions to 17/12/2006

House Prices Forecasts and Predictions to 22/12/2006

House Prices Forecasts and Predictions to 29/12/2006

House Prices Forecasts and Predictions to 5/1/07

House Prices Forecasts and Predictions to 12/1/07

House Prices Forecasts and Predictions to 19/1/07

House Prices Forecasts and Predictions to 26/1/07

House Prices Forecasts and Predictions to 2/2/07

House Prices Forecasts and Predictions to 9/2/07

House Prices Forecasts and Predictions to 16/2/07

House Prices Forecasts and Predictions to 23/2/07

House Prices Forecasts and Predictions to 2/3/07

House Prices Forecasts and Predictions to 9/3/07

House Prices Forecasts and Predictions to 16/3/07

House Prices Forecasts and Predictions to 23/3/07

House Prices Forecasts and Predictions to 30/3/07

House Prices Forecasts and Predictions to 6/4/07

House Prices Forecasts and Predictions to 13/4/07

House Prices Forecasts and Predictions to 20/4/07

House Prices Forecasts and Predictions to 27/4/07

House Prices Forecasts and Predictions to 4/5/07

House Prices Forecasts and Predictions to 11/5/07

House Prices Forecasts and Predictions to 18/5/07

House Prices Forecasts and Predictions to 25/5/07

House Prices Forecasts and Predictions to 8/6/07

House Prices Forecasts and Predictions to 15/6/07

House Prices Forecasts and Predictions to 22/6/07

House Prices Forecasts and Predictions to 6/7/07

House Prices Forecasts and Predictions to 13/7/07

House Prices Forecasts and Predictions to 20/7/07

House Prices Forecasts and Predictions to 27/7/07

House Prices Forecasts and Predictions to 3/8/07

House Prices Forecasts and Predictions to 10/8/07

House Prices Forecasts and Predictions to 17/8/07

House Prices Forecasts and Predictions to 24/8/07

House Prices Forecasts and Predictions to 31/8/07

House Prices Forecasts and Predictions to 7/9/07

House Prices Forecasts and Predictions to 14/9/07

House Prices Forecasts and Predictions to 21/9/07

House Prices Forecasts and Predictions to 28/9/07

House Prices Forecasts and Predictions to 5/10/07

House Prices Forecasts and Predictions to 12/10/07

House Prices Forecasts and Predictions to 19/10/07

House Prices Forecasts and Predictions to 26/10/07

House Prices Forecasts and Predictions to 2/11/07

House Prices Forecasts and Predictions to 9/11/07

House Prices Forecasts and Predictions to 16/11/07

House Prices Forecasts and Predictions to 30/11/07

House Prices Forecasts and Predictions to 7/12/07

House Prices Forecasts and Predictions to 14/12/07

House Prices Forecasts and Predictions to 21/12/07

House Prices Forecasts and Predictions to 28/12/07

House Prices Forecasts and Predictions to 11/1/08

House Prices Forecasts and Predictions to 18/1/08

House Prices Forecasts and Predictions to 25/1/08

House Prices Forecasts and Predictions to 1/2/08

House Prices Forecasts and Predictions to 8/2/08

House Prices Forecasts and Predictions to 15/2/08

House Prices Forecasts and Predictions to 22/2/08

House Prices Forecasts and Predictions to 29/2/08

House Prices Forecasts and Predictions to 7/3/08

House Prices Forecasts and Predictions to 14/3/08

House Prices Forecasts and Predictions to 21/3/08

House Prices Forecasts and Predictions to 28/3/08

House Prices Forecasts and Predictions to 4/4/08

House Prices Forecasts and Predictions to 11/4/08

House Prices Forecasts and Predictions to 18/4/08

House Prices Forecasts and Predictions to 25/4/08

House Prices Forecasts and Predictions to 2/5/08

 


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Please note, this information is NOT necessarily RELEVANT in Scotland

 

 



 

 

 


 

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