House Price Growth ‘Slowing’
Keywords: house, price, growth, slowing
Despite house prices across Britain increasing over the last three months, a new study by Nationwide has noted a slowing in the speed of growth.
According to the financial services firm, the typical British property rose in value by 2.1 per cent during the second quarter of 2007, compared to the previous three-month period which witnessed growth of some 2.3 per cent. Now costing an average of 181,810 pounds, house prices across every region of the country were reported to have increased by at least five per cent over the last year, with some five out of 13 regions surveyed recording double-digit growth.
Commenting on the figures, Fionnuala Earley, Nationwide chief economist, said: “As per the first quarter of 2007, Northern Ireland and London led the market during April-June, with annual price growth reaching 54 and 15.7 per cent respectively.” However, she added: “Even London and Northern Ireland - the two most buoyant regional markets - saw the quarterly pace of house price inflation slow.” Meanwhile, the north-west was said to have seen the lowest growth during the three-month period with prices rising by 5.8 per cent. Yorkshire, the north of England and the West Midlands were also said to have seen “relative weakness” in terms of price growth.
Ms Earley added that Britain’s geographical divide “remained significant” between April and June, with homes in the south of the country outstripping the north by 5.6 percentage points. Meanwhile, property in the regions surrounding London were said to be experiencing “some ripple effects” due to the capital’s continued price growth.
Research from Nationwide also revealed that while house price increases in Northern Ireland are “astonishing”, the economist pointed out that values could be falling as the market peaked earlier this year. Over the last 12 months, prices in the principality were said to have fallen from 54 per cent compared to 57.6 per cent. However, Ms Earley claimed that borrowers in the region could still face difficulties making secured loan repayments as recent rates of growth appear to be “unsustainable”. “Average earnings in Northern Ireland are still lower than the UK average, suggesting that affordability is deteriorating fairly rapidly and that the market here could be more vulnerable than in other regions,” she claimed.
Across Britain, Belfast, Aberdeen and Sunderland were the three cities outside of London reported to have seen the largest increase in property values, with Newcastle and Birmingham seeing the lowest growth at three per cent each. Meanwhile, Liverpool was the only place in Britain not to witness any increase at all in house prices.
The trend for slowed house price growth noted by Nationwide was also revealed in recent figures from Halifax. According to the Yorkshire-based financial provider, the average house price rose by 0.4 per cent over the course of June. However, with second quarter growth of two per cent, costs were said to be continuing to fall as rises of 4.2 and three per cent were recorded in the last three months of 2006 and the period between January and April respectively
Abbi Rouse writes for 1 stop finance shop where visitors can apply for UK debt consolidation loans and also focuses on cheap personal loans and bad credit secured loans for UK residents. Visit Today: news.1stopfinanceshopuk.biz
Previous Articles Highlighter:
Britons 'Get Carried Away' With Holiday Spending (1)
According to the price comparison website such moves could leave many tourists open to "extortionate roaming charges". Abbi Rouse writes for Essentially Home Loans where visitors can apply for a personal loan online, and also focuses on secured loans for UK residents.
Insuring Yourself In A Changing Economy (2)
So consumer advocate experts recommend that employees consider the pros and cons of employer benefits versus individual health coverage. Many experts are advising a move to Health Savings Accounts, or HSAs, where qualified high-deductible health insurance policies cover large medical bills and an investment account is used to withdraw money tax-free for medical care.
The High Deductible Health Plan - What Is It And How Does It Benefit Me? (3)
But this year, it is expected that more big companies in Texas will offer them as a health insurance option, and many smaller, cash-strapped businesses will replace their current plans making it the only health-care choice.
Medical Bankruptcies The Growing Reality (4)
According the study, a total of 1.46 million personal bankruptcies were filed in the United States during 2001. Nearly 1,000 individuals questioned gave detailed interviews about their financial and medical circumstances.
'Marked Growth' In High Loan To Value Mortgage Uptake (5)
"The growth in high loan to value mortgages and interest only loans are a warning to borrowers who are overstretching and they should consider what they will lose from their pay packets, which are not increasing at the same pace as house prices and mortgage repayments," he said.
Stopping Smoking And Summer Budgeting 'Could Ease Finances' (6)
Meanwhile, raising a child to the age of 21 is reported to set consumers back by an average of 23.50 a day. Abbi Rouse Writes for 1 Stop Finance Shop UK.
UK Has 'Higher Than Average Inflation' (7)
A study by the Organisation for Economic Co-operation and Development (OECD) has indicated that Britons are currently paying some 4.9 per cent more for the cost of their groceries than they were at the same time last year.
Newer Articles Highlighter:
Put Your Agent To The Test (1)
Keywords: Agents, Greenville, Buying, Selling, Homes, Real Estate At this stage in the home selling game, you've already interviewed your Agent candidates, and assuming one has passed your stringent standards and answered the interview questions to your satisfaction, you might be willing to give him or her a shot at listing your home for sale.
Establishing Credit Though Student Credit Cards (2)
Even though the spending limit is considerably less, they work like most other credit cards. After the student has mastered using the credit card, they can then manage their overall money better.
Student Loan Default - Avoid It With These Easy Steps (3)
The most important issue for to realize here is that however hard it is in the short-term, having no student loan default record on file will be much easier in all sorts of ways financial in the future.
Get The Best Debt Relief From A Free Debt Consolidation Program (4)
Keywords: free debt consolidation program, bad credit debt consolidation loan, free debt consolidation company A free debt consolidation program is in the best interest of those who are in such a tight spot that they can either pay their creditors or run their household.
Mutual Funds Make Investing Simple (5)
When you buy shares, you are buying a portion of the holdings of the fund, which contains many different stocks and bonds within the portfolio. And, just like with individual stocks and bonds, your shares increase in value when the share price of stocks within the portfolio appreciate, or when interest payments are made on the bonds.
Offer A Vendor Equipment Leasing Program To Enhance Sales And Profits (6)
Others say their customers pay cash. This mindset can be costly in a variety of ways. The biggest problem is that it can drive the customer to the arms of your competition.
What Is High Risk Home Owner Insurance? (7)
If you live in such a neighborhood then there are certain things you can do to decrease the risk rating of your home. Have a security system installed that is hard wired back to a central call center.
Borrowing Should Be 'Structured In Best Way Possible' (8)
Meanwhile, those looking to take out a loan should also take the time to make sure that they aware of the level of commitment required by them when taking out credit.
Student Loans Also Known As PLUS Loans (9)
These are also known as PLUS loans. These loans have a much higher limit. This helps in meeting any gap in the education cost but the payments start immediately as there is no grace period.
Real Estate Financing - What You Need To Know About Home Mortgages Before You Commit (10)
If you're a first-time home-buyer it's possible that you may qualify for a lower down payment or lower interest rate; check with mortgage brokers, online mortgage companies, your county housing department or your employer to see if they know of any programs available.
Getting Engaged? How Should You Handle Health Insurance? (11)
So before you head off on your honeymoon, here are some things to consider: If you're both covered by an employer-sponsored health insurance plan, it might make sense to integrate your plans.
7 Cash Flow Steps To A Healthy Budget (12)
And all it is is a cash flow plan. All a budget does is track where the money is flowing from and where it is flowing to. Cash flow; it's what makes the world go around.
Considering Health Savings Accounts (13)
Finding a plan depends on whether you get it through your employer or purchase individual insurance. Employer Insurance If you get health insurance through your employer, ask about the HSA-eligible option during the group policy's open-enrollment period, which is generally in the fall.
Eight Ways To Save Money On Gas (14)
Experts say that the less expensive grades are fine for many vehicles. Consult your owner's manual to see if your car needs the more expensive grade. If your owner's manual doesn't mention the recommended grade of gasoline, consult your mechanic or car dealer.
Business Finance Resource Availability Issues For Telecommunications Companies (15)
By considering all of your options and selecting the one which fits your business the best, you can be well on your way to growing and expanding your business. Thermo Credit LLC provides asset based solutions and works with partner companies to offer loans, lines of credit, and capital investment.
Is Your Identity Stolen? - What You Should Do (16)
Contact them by phone at 1-877-IDTHEFT (438-4338); TTY: 1-866-653- 4261, or by mail at: Identity Theft Clearinghouse Federal Trade Commission 600 Pennsylvania Avenue, NW, Washington, DC, 20580 You can also visit the FTC website at www.consumer.gov/idtheft.
The Importance Of Having Umbrella Insurance (17)
Also, the insurer will require that you maintain a certain level of liability on the home and auto policies in order to qualify for the excess policy. Usually, you must maintain at least $250,000 of bodily injury liability per person, $500,000 per accident, and $100,000 for property damage for your autos, and $500,000 of liability for your home.
How To Pick A Good Home Owner Insurance Company (18)
The insurance business is regulated by individual state laws which can be different from state to state. There are independent research firms who rate the insurance industry and in most cases the ratings that are given are on an alphabetical scale such as A, B, C, and so on.
Your Credit Report And Credit Score (19)
People with high credit scores can obtain lower interest rates on their loans and credit cards while those with low credit scores will be given higher interest rates and will more likely be denied of a credit card application, loan application or any other type of credit based service.
The Personal Financial Budget Is The Door To Financial Freedom (20)
The way to do that is with a budget which for many people is something that doesn't come naturally. Making a budget is much like anything else; it takes a little time to get the hang of it.
What Is A Mortgage Refinance? (21)
With a great choice of mortgage deals available from a range of reputable lenders, a mortgage refinance deal could be just the answer to your problems, and you can enjoy lower interest rates, lower payments, and better payment terms as well as an array of other benefits.
Understanding Virtual Banking (22)
And we can save the paper and sign less checks or none at all. It is the growing number of virtual banks that are threatening traditional banks as we know them.
When To Refinance Your Home Mortgage (23)
Finally, home owners can also benefit from a lower refinancing rate by freeing up cash that can be used on much needed expenditures. In most cases, a lower interest rate is a good reason to refinance a home especially when the home is still quite new, for example the homeowners have been paying on it for only a few years.
Do You Know Why You Want To Become A Trader Online? (24)
It seems more and more these days, that there are more gurus than there are websites. One guru suggests that you need to zero in on the reason you are doing something rather than the techniques you may utilize in order to get the job done.
Buying Home Owners Insurance Online (25)
In fact you can find coverage's online that will cover a wide range of disasters and accidents, including damage caused by: fire/lightning, windstorms/hail, explosions, riot or civil commotions, aircraft, vehicles, smoke, vandalism, theft, volcanic eruption, falling objects, weight of snow/ice/sleet and much more.
Understanding Your Annual Percentage Rate (APR) (26)
Because all lenders follow the same rules to ensure the accuracy of the rate, it provides consumers with a good basis for comparing the cost of loans, including mortgage plans.
Foreclosed Homes List- An Important Tool (27)
Keywords: Sell Your Home Fast, Stop Home Foreclosures Foreclosed home lists prove to be a significant tool for prospective buyers in the foreclosure market. These lists can easily be found online featuring a number of homes that have been repossessed by the bank or other mortgage lenders.
Foreclosed Home Listing- An Insight Into Foreclosed Home Listings (28)
It can be a difficult task to locate a reputable free list of foreclosed homes. With real estate investors earning bulk of their income by buying cheap homes and selling it for huge profits, foreclosed properties have increased in demand.
Foreclosed Home- Discover The Truth About Foreclosed Homes (29)
As Is Now will buy your house in 24 hours if approved and you get cash in your pocket. We help you get rid of your home fast for any reason including to Stop Home Foreclosures : www.asisnow.com
Consumers Determined To Buy First Home (30)
With concerns over future affordability and property prices many are doing everything they can to get on the property ladder as soon as they can. While there are now many flexible, competitive mortgage products on the market which can help people make that step up, first-time buyers have to be careful not to over-extend themselves, especially as there may be further rate rises to come." Meanwhile, some 79 per cent of consumers believe that the base rate is set to rise over the course of the next 12 months.
Buy Foreclosed Homes- Be An Informed Buyer (31)
A little information in the real estate market can be sufficient for ensuring that you wont be overcome with buyers remorse soon after the sale. Probably the best advice one could give is that buyers should approach their purchase decisions wisely, without any emotions.
Are You Paying Too Much For Your Loan Insurance? (32)
The benefits Despite its high cost, there are some benefits to insurance. It can give you the peace of mind that if something should happen to you then your payments are covered for up to a year.
Banking Alternatives: Do You Need A Bank? (33)
Online banking Perhaps the best alternative to traditional banking is online banking. There are many banks that operate solely online, and there are a lot of benefits to this sort of bank.