"The Easy Way to Get Your Best UK Mortgage" |
|
| Helping
over 300,000 people a year find the right mortgage NINE YEARS ONLINE |
|
|
|
|
||||||
|
|
UK House Prices Situation at 7 12 2007: Stagnation or reduction in most areas
UK House Prices Forecast: Continued general falls nationwide
Nationwide Report Biggest Fall for 12 Years
One of the UK's largest mortgage lenders has just reported a 0.8% fall in average house prices in the last month. This takes the annualised growth rate to just 6.9% - down from 9.7% in October.
Nationwide's monthly House Price Index survey showed that average house prices across the UK had fallen from £186,044 in October to £184,099 in November. Nationwide Chief Economist Fionnuala Earley commented:
"November’s data confirms that the housing market is indeed cooling in line with the weakening in housing market drivers. Poor affordability, weaker house price growth expectations and the effect of earlier increases in interest rates have all affected demand in the market."
Land Registry Figures Show Almost No Change
The Land Registry also updated its House Price Index last week, publishing data for October, 2007.
Although the Land Registry HPI is considered extremely authoritative - it includes all property sales, not just mortgaged sales - it relies on data from completed sales, meaning that it tends to lag behind the indices such as Nationwide's.
That lag suggests that the Land Registry's overall change of 0.1% is consistent with the fall in the average price recorded by Nationwide. It seems likely that the next update of the Land Registry HPI will show a fall in the average price, as have almost all other HPIs in the last month.
City Forecasts 7% Fall In 2008
An alternative method of gauging the future of the housing market might be to look at the prices of residential property derivatives - a new form of futures contract introduced to the financial markets earlier this year.
Prices at present show that traders expect house prices to fall by 7% in 2008, followed by a period of up to five years during which prices will stagnate.
.
Latest House Prices Forecasts and Predictions in the UK
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
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
 |  |  |  |
|
©Moneysorter Ltd. Office registered in England, Company Number: 3891081, VAT reg no 769 7245 74 Data Protection Register number Z4835056 Consumer Credit Licence 509896. This website is Approved by Cradon Investments Ltd Authorised and Regulated by the Financial Services Authority FSA No: 300505 |