UK homes built before 1919 have seen the largest surge in price over the past 25 years, according to new research from Halifax. Having put on an average 461% (or £516 per month) over the period, dwellings constructed before the end of The First World War have typically risen in value from £33,619 in 1986 [...]
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RICS: housing market remains sluggish
The UK housing market remained sluggish during January, the Royal Institution of Chartered Surveyors (RICS) reports.
Lack of buyer demand and low levels of supply meant that 7% more surveyors reported demand for property falling, rather than rising, with potential purchasers remaining cautious about the outlook for the economy, and the possibility of mortgage rate increases [...]
Nationwide: House Price Inflation Reaches Double Digits
- House prices increased by 1.0% month-on-month in April
- Annual rate of price inflation moves into double digits for first time since June 2007
- House prices are 10.0% below the October 2007 peak
| Headlines | March 2010 | April 2010 |
|---|---|---|
| Monthly index * Q1 ’93 = 100 | 330.6 | 334.0 |
| Monthly change* | 1.0% | 1.0% |
| Annual change | 9.0% | 10.5% |
| Average price | £164,519 | £167,802 |
* seasonally adjusted
Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said:
The price of a typical UK property rose by a seasonally adjusted 1.0% month-on-month (m/m) in April, leaving house prices 10.5% higher than a year earlier. Over the lifetime of the last Parliament (May 2005 to April 2010), house prices have risen by 6.7%. This compares to a 13.5% increase in the consumer price index, the official target measure of inflation.
April’s figures show the first double-digit annual growth in UK house prices since June 2007. The year-on-year rate in this month’s figures, however, received an additional boost from the fact that April 2009 was one of the weaker months last year. Given the very strong performance of house prices from May 2009 onwards, it will take monthly increases in excess of 1% for the annual rate of inflation to be maintained in double digits going forward. The smoother three month on three month rate of inflation edged down further from 1.5% in March to 1.1% in April, which primarily reflects the impact of February’s 1.0% decline in house prices. April’s figures leave UK house prices exactly 10% below the October 2007 peak.
For further information please see April 2010 report (PDF 64KB).
