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NewsJuly 17th July 17th July 13th July 13th July 11th July 5th 2007 |
News - House Prices up - Demand downAugust 14th 2007 House prices are continuing to increase with the latest government figures showing average house prices up from £210,793 in May 2007 to £214,222 in June. The Communities and Local Government Department statistics also indicated that annual house price inflation in June was running at over 12% against almost 11% in May for the UK as a whole. In London the figures were 17.5 per cent in June, up from 14.3 per cent in May. The increase in prices has particularly affected first time buyers who are finding housing increasingly unaffordable with the cost of an average house reaching over 10 times annual salary. Together with speculation about a possible base rate rise from 5.75%
to 6% in the autumn the figures have helped housing demand continue
to flatten off with builders and estate agents reporting business quiet
during the normally busy spring and summer months. More NewsBank of England Review Base rateBrown promises three million more affordable housesGetting a Loan when you have a bad history 'more difficult' say LendersInterest rates rise to 5.75 per cent |
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