House Prices

First time buyers are forcing down property values, according to independent financial website Moneyextra.com.

Prices for housing in prime central London housing market remained unchanged in April with a barely discernable growth rate of 0.1%, according to Knight Frank.

House prices fell by 1.3% in April and prices were 0.9% lower on an annual basis, according to the Halifax House Price Index.

Following the release of the Halifax house price index, Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA), the residential sales arm of the National Federation of Property Professionals (NFOPP), said: "Whilst the report shows a modest decline in prices, this is a small proportion of the substantial prices in recent years.

The latest figures by Nationwide Building Society confirms the softer tone to the residential property market, Simon Rubinsohn, RICS chief economist comments: The scaling back of loan to value ratio by lenders is depressing turnover in the market and is making it particularly difficult for first time buyers to take their first step on to the property ladder.

Following the release of the Nationwide report Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA), the residential sales arm of the National Federation of Property Professionals (NFOPP) said: "This needs to be put into context.

April was another difficult month for the housing market. Falling levels of market activity meant that prices fell by 1.1% during the month and ended up 1% lower than this time last year, according to the Nationwide Building Society.

In January, Fool.co.uk predicted that house prices would fall 20% this year slashing the average price of a home in Britain from £196,000 to £153,400. We still maintain that property values will revert to mean.

Following the release of the RICS housing market survey, Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA) called for steadiness amongst property market professionals and said that there are still strong economic factors underpinning the market that have not changed and that there is some good news.

The balance of Chartered Surveyors reporting house prices falls increased to an historical low in March.

The country house sector showed negative price growth for the second consecutive quarter, with prices falling 0.2% in the three months to the end of March, according to the Knight Frank Prime Country House Index.

David Kuo, Head of Personal Finance at Fool.co.uk, says: “The abrupt monthly fall of 2.5% underlines Fool.co.uk’s position that the long overdue correction in house prices could see the value of the average home drop by as much as 20% this year.

Commenting on the Halifax house price data, Simon Rubinsohn, RICS chief economist said: "The sharp fall in the Halifax house price index in March highlights the growing pressure on the residential market as lenders continue to scale back their activity in the market.

House prices fell by 2.5% in March, prices in Quarter 1 were 1.0% lower than in 2007 Quarter 4, according to the latest Halifax House Price Index. House prices in March were 1.1% higher than a year earlier.

House prices in England and Wales remained static during February, with no monthly price change, according to the latest figures from Land Registry. The average house price stands at £185,616.

Commenting on Nationwide house price data, Simon Rubinsohn, RICS chief economist said: "The fifth consecutive monthly drop in house prices is indicative of the shift in sentiment towards the property market.

House prices fell for the fifth consecutive month in March. The price of a typical house fell by 0.6% during the month, bringing the annual rate of house price growth down to 1.1% - its lowest rate since March 1996, according to figures from the Nationwide Building Society.

Properties in Merthyr Tydfil have recorded the largest gain in average price per square metre (m²) over the past five years, according to research from Halifax Estate Agents.

The balance of Chartered Surveyors reporting house prices falls increased to near historical levels in February and stock piles rose to levels not seen for a decade, says the latest RICS’ UK housing market survey.

House prices fell by 0.3% in February, prices in the three months to February were 0.2% higher than in the previous quarter, according to the Halifax house Price Index.

Commenting on the Nationwide house price data, Simon Rubinsohn, RICS chief economist said: "The index compiled by the Nationwide Building Society has declined for four consecutive months and we expect this trend to persist for a while to come.

UK house prices fell by 0.5% during February, bringing the annual rate of house price growth down to 2.7%, according to the Nationwide Building Society.

House prices in England and Wales increased by 0.9 per cent in January according to the latest monthly figures from Land Registry.

The balance of surveyors reporting house price falls increased again in January, says the latest RICS’ UK housing market survey.

House prices were unchanged in January, prices in the three months to January were 1.0% lower than in the previous quarter, according to the latest Halifax House Price Index.

The best performing county in terms of house price growth over the past ten years is County Armagh, according to the Halifax County House Price Survey.

Commenting on today's Nationwide house price figures, David Stubbs, RICS senior economist said: "Today’s numbers confirm the continuing slowdown in the UK housing market.

UK house prices were barely changed in January, recording a modest fall of 0.1% over the month on a seasonally adjusted basis, according to figures from the Nationwide Building Society.

House prices in England and Wales dropped 0.4 per cent in December, bringing the annual increase down to 6.7 per cent, according to data from the Land Registry.

House prices in 2007 Quarter 4 were 5.2% higher than in 2006 Quarter 4 with the average price of a home in the UK increasing by £9,821 over the year to £197,071, according to the Halifax House Price Index.

Leading internet property experts, Mouseprice.com, have launched a new, online, valuation system, which will provide free and instant estimates of the value of any home in England and Wales.

David Kuo, Head of Personal Finance at Fool.co.uk, says: “Conflicting data on the state of the housing market may leave homeowners, property sellers and prospective house buyers feeling confused.

The balance of surveyors reporting house price falls has reached levels not seen since the early nineties housing market correction, says latest RICS’ UK housing market survey.

December prime central London property prices showed a surprising increase over November with market growth of 1%; a reversal of trend shown in the previous two months, according to the latest Knight Frank Prime Central London Index.

Commenting on the Halifax house Price data, Simon Rubinsohn, RICS chief economist said: "The rise in Halifax house price index in December came as a surprise after three successive monthly declines.

House prices increased by 1.3% in December following three successive monthly falls, according to the latest Halifax House Price Index.

The annual rate of house price growth slowed in every part of the UK in the final quarter of 2007, bringing the average rate in the UK down from 9.3% to 6.9%, according to the Nationwide Building Society.

House prices in England and Wales increased 0.6 per cent in November with an annual increase of 8.1 per cent, according to figures from the Land Registry.

St Albans remains the most expensive town in the UK with an average house price of almost £350,000, according to a survey by the Nationwide Building Society.

UK house prices fell by a seasonally adjusted 0.5% in December, recording their second consecutive month-on-month fall, according to the Nationwide Building Society.

Montrose in Angus recorded the biggest house price increase (39%) in 2007, according to Halifax Estate Agents.

UK house prices fell by 1.1% in November, according to the latest Halifax House Price Index. In annual terms, house prices are 6.3% higher.

House prices fell by 0.8% in November, bringing the annual rate of increase down to 6.9, according to figures from the Nationwide Building Society.

House prices across Scotland continue to rise according to the latest Lloyds TSB Scotland House Price Monitor.

Economic tailwinds are turning into headwinds, as house price inflation is expected to drop from the current rate of 9.7% to 0% by this time next year, according to Nationwide’s house price forecast 2008.

House prices fell by 0.5% in October, according to the latest Halifax House Price Index. Overall, house prices in the three months to October were 0.3% higher than in the previous quarter. This continues the steady downward trend experienced since the end of 2006.

Armagh has recorded the biggest increase in house prices of any UK city over the past five years with a rise of 188%, according to research by Halifax Estate Agents.

Commenting on Nationwide house price figures, Simon Rubinsohn, RICS chief economist said: "The endless talk of the demise of the property market is, at the very least, a little premature.

House prices recorded a surprisingly strong increase of 1.1% in October, tying it with June for the highest month-on-month growth rate so far in 2007, according to figures from the Nationwide Building Society.

House price change in England and Wales has stayed positive for residential property transactions that completed in September 2007, according to figures from the Land Registry.

Latest figures indicating that house prices are beginning to ease should not be interpreted as an early indication of a housing market price crash, says Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association (IMLA).

House prices fell by 0.6% in September, bringing the average house price to £198,500, according to the latest Halifax House Price Index.

The rate of house price growth in the UK cooled from 10.2% to 9.3% in the third quarter, according to the latest Nationwide Quarterly Regional House Price Report.

Commenting on the Nationwide figures Oliver Gilmartin RICS senior economist said: "Whilst monthly measures can bounce around the underlying trend remains downward and credit market turmoil is yet to show up on the balance sheet of households.

House prices defied gloomy expectations rising 0.7% in September, but the trend growth of house prices is now the lowest since July 2006, according to figures from the Nationwide Building Society.

House price growth turned negative in August as demand slowed sharply, says the latest RICS (Royal Institution of Chartered Surveyors) UK housing market survey.

Commenting on the Halifax data, RICS senior economist Oliver Gilmartin said; “The strength of recent house price data will mean that any talk of an interest rate cut remains premature, as the Bank of England attempt to slow the pace of economic growth and consumer spending into 2008.

House prices increased by 0.4% in August. This is the third month in the last four that house prices have grown by less than 0.5%, confirming that house price inflation is slowing, according to the latest Halifax House Price Index.

House prices in the UK have outperformed every country in the eurozone except Spain over the past five years, according to new research by Halifax.

Commenting on Nationwide house price figures, Oliver Gilmartin, RICS senior economist said: "Today's figures confirm the slowing trend in annual house price growth which is gripping the UK at the moment.

UK house prices increased by 0.6% during August, but the annual growth rate fell to 9.6% down from 9.9% in July, according to the latest Nationwide House Price Report.

Commenting on the Land Registry figures, RICS senior economist, David Stubbs said: "The housing slowdown continues to accelerate as homeowners and prospective buyers deal with the impact of five interest rate increases since last August

House prices in England and Wales exhibit slow monthly growth for residential property transactions that completed in July 2007, according to latest Land Registry data.

Five rounds of base interest rate increases are taking their toll on the housing market. The average property value of £218,033 in July was down by 4.65% on the month and up just 1.63% year-on-year.

Residential property prices in prime central London increased by 3.9% in July, the highest monthly rate of growth since 1976, according to the Knight Frank Prime Central London Residential Sales Index.

Modest monthly increases continue as average asking prices rise by 0.6% (£1,473), according to the Rightmove House Price Index.

Twenty university towns across the UK recorded an increase in house prices of 20% or more over the past year, close to double the nationwide increase of 11%, according to research from Halifax Estate Agents.

House prices across Scotland continue to rise, but the latest quarterly figures show a very mixed picture across the country, according to the latest Lloyds TSB Scotland House Price Monitor.

UK annual house price inflation in June 2007 was 12.1 per cent, up from 10.8 per cent in May 2007, according to figures from the Communities and Local Government. Annual house price inflation in London was 17.5 per cent in June, up from 14.3 per cent in May.

Recent statistics published by economic analysts, Oxford Economics are predicting that house prices will rise by 40% in the next 5 years, which is good news for UK property investors.

The percentage of new houses being developed in favour of flats has fallen by 25%, reveals the latest report from CB Richard Ellis and Hamptons International.

House prices increased by 0.7% in July, according to the latest Halifax House Price Index. This is the fourth consecutive month that house prices have grown by less than 1.0%, confirming that house price inflation is slowing.

House prices fall by about £1,000 for every additional minute of travel time outside the M25 on routes out of London, according to research by Savills. It also shows that commuter numbers and house prices are directly linked.

House price change in England and Wales remained positive for residential property transactions that completed in June 2007.

Prices of country houses grew by an average of 3.3% in the second quarter of the year leading to an annualised price growth of 11.6% for manor houses and 10.4% for all country houses, according to the latest Knight Frank Prime Country House Index.

Despite record prices reported in May, new home prices took a tumble in June, with their average price falling 0.3% since the previous month, according to SmartNewHomes.com.

Average national asking prices for homes in England and Wales rose by just 0.3% in July, the lowest monthly rise this year, according to rightmove.co.uk.

House prices rose by only 0.1% in July, bringing the annual rate of growth to 9.9%, according to latest figures from the Nationwide House Price Report.

Commenting on the Halifax housing figures for London, RICS senior economist, Oliver Gilmartin said: "A strong financial services sector has transformed London into a property rich ‘city state’.

The average price in Greater London broke through the £300,000 barrier for the first time in 2007 Q2 to £313,122, according to the latest Halifax House Price Index. This takes the average price in the capital above the new inheritance tax threshold of £300,000.

Nationwide Building Society has confirmed that it stands by its original forecast that house prices will grow by around 5-8% in 2007.

UK annual house price inflation in May 2007 was 10.9 per cent, down from 11.3 per cent in April 2007, according to figures from the Communities and Local Government (CLG).

Residential property prices in prime central London increased by 3.1% in June, the highest monthly rate of growth since the start of the Knight Frank Prime Central London Residential index in 1976.

Figures released by Savills show continued growth in the Prime Country House Market, particularly for properties priced over £2 million. Whilst the index for all properties showed quarterly growth of 2.8%, properties worth over £2 million showed growth of 4.80% in the second quarter of 2007.

All UK regions see house prices grow in the second quarter of 2007, but pace of growth is slowing, according to the latest Nationwide Quarterly House Price Report.

Commenting on Halifax house price figures, Oliver Gilmartin, RICS senior economist said: "The softer trend in this months housing data will not prevent the MPC from raising interest rates tomorrow as the economy continues to show solid expansion with price pressures remaining a worry.

House prices increased by 0.4% in June, the second successive monthly rise of less than 0.5%, according to the latest Halifax House Price Index.

The quarterly rate of growth in Prime Central London now stands at 5.7%, down from 8.8% in the first quarter of this year, according to figures from Savills.

London's average house price for May 2007 stands at £335,658 whereas the average price for England and Wales is £180,594, increasing the index to 219.6, according to Land Registry data.

UK house price growth bounced back in June, increasing by 1.1% during the month, according to the Nationwide Building Society.

The average price for a new home reached £260,832 in May - the highest average price for a new home ever recorded by the SmartNewHomes.com monthly index.

The UK house price inflation rate rose from 10.9 per cent in March 2007 to 11.3 per cent in April 2007, according to the Communities and Local Government (CLG).

Commenting on today’s Halifax figures, David Stubbs, RICS senior economist said: “The housing market slowdown is now well and truly underway. With mortgage rates continuing to rise, first time buyers are finding it increasingly difficult to afford the massive mortgages they now require to get on the ladder.

UK house prices increased by 0.3% in May, the smallest monthly gain this year and the third consecutive slowing in the monthly growth rate, according to the latest Halifax House Price Index.

Commenting on Nationwide house price figures, RICS senior economist Oliver Gilmartiin said: "The housing market is cooling although prices continue to rise. The full effects of recent interest rate rises are yet to be felt, with a further slow down in price rises expected into the Autumn.

UK house prices increased by 0.5% in May, bringing the annual growth rate to 10.3%, according to the Nationwide Building Society.

House price change in England and Wales remained positive for residential property transactions that completed in April 2007, according to figures from the Land Registry.

House prices in Aberdeen, Edinburgh and Dundee have surged in the last quarter, according to the Lloyds TSB Scotland House Price Monitor.

The average price of a new home in May was up 0.7% on the previous month and up 0.3% over the last year, signalling a positive change in the market and leading a strong second quarter for the new homes market in 2007, according to Smartnewhomes.com.

Average national asking prices showed their smallest gain of the year so far, rising 0.4% in May, according to Rightmove.co.uk.

The prices of the best properties in central London have risen by over 33% in the 12 months to the end of April 200, according to the latest figures from the Knight Frank Prime Central London Residential Index.

House prices gained further momentum in April despite increased supply triggered by the forthcoming introduction of HIPS (Home Information Packs), according to the latest RICS’ UK housing market survey.

The UK house price inflation rate fell from 11.8 per cent in February 2007 to 10.9 per cent in March 2007, according to the Communities and Local Government (CLG).

House prices rose by 1.1% in April, the smallest monthly rise so far this year and the second lowest since July 2006, according to the latest Halifax House Price Index.

House prices in England and Wales have continued their recent strong run with an annual increase of 8.3 per cent in March 2007, according to figures from the Land Registry. The monthly change in house prices of 1.0 per cent raises the average house price to £178,423 in this month.

Demand for Prime Country Houses reached its highest point relative to supply for at least two years during the first quarter of the year according to the latest research from Savills with the growth rates between properties worth more or less than £2million narrowing over the past quarter.

House price growth almost doubled during April to 0.9%, up from 0.5% in March, according to figures from the Nationwide Building Society. This brings the annual rate of inflation back into double digits at 10.2% and the price of a typical house up to £180,314, which is £16,741 higher than at this time last year.

For the first time, there are now no towns in the UK where the average price is below £100,000. Five years ago, there were more than 200 towns with an average price below £100,000, according to the Halifax House Price Index.

Properties in Edinburgh have experienced the largest gain in prices per square metre over the past ten years, according to a new analysis of Scottish cities by Bank of Scotland.

Properties in Brighton have experienced the largest gain in prices per square metre over the past ten years, according to new analysis of 62 cities in the UK by Halifax Estate Agents.

In anticipation of the London Marathon this Sunday, Nationwide Building Society reviews a decade of house price rises in the five main London boroughs in which the race passes through.

The average UK house price in February 2007 stood at £205,102, down from £205,399 in January 2007, according to the Communities and Local Government (CLG) house price index.

Prices of country houses grew by an average of 3.1% in the first quarter of the year leading to an annualised price growth of 12.4% for manor houses, the highest rate since 2000, according to the latest Knight Frank Prime Country House Index.

Prime London property prices increased by 3.1% in the month of March, the highest monthly rate of growth on record, leading to an annual price growth of an astonishing 32.0%, according to the latest Knight Frank Prime Central London Index.

House prices bounced back as the market absorbed the first round of interest rate rises, says the latest RICS’ UK housing market survey.

House prices rose by 1.0% in March, the second smallest monthly increase since August 2006, according to the latest Halifax House Price Index.

Annual house price inflation rose to 9.5 per cent during the first quarter of 2007, according to the Nationwide Building Society. The price of a typical house now stands at £175,554.

The gap between the average price of new homes sold in Scotland and England has narrowed to just one per cent, according to figures released by NHBC, the new home warranty and insurance provider in the UK.

February data from the Land Registry shows a further house price gain, with an annual increase of 8.5 per cent. The monthly change in house prices of 1.0 per cent raises the average house price to £177,099 in February 2007.

The housing market showed further signs of cooling during March. The price of a typical house increased by 0.4% during the month, bringing the annual rate of house price inflation back into single digits at 9.3%, according to the Nationwide Building Society.

Knight Frank residential property sales in Scotland are already ahead of first quarter sales over the equivalent period last year, and every indication is that house prices in Scotland will still increase at 9 – 10% for the next 9 months ahead of a UK average forecast of 6%, according to agents Knight Frank.

The average price of a new home has taken a fall over the last year, down 1.3%, reflecting the increasing volume of more affordable new homes in the north of the UK, according to smartnewhomes.com.

Halifax calculates that nearly one third of detached property owners in the UK could be liable to pay inheritance tax. 29% of detached house prices now occur above the 2007/08 inheritance tax (IHT) threshold of £300,000. Five years ago only 16% of detached properties were sold above the then IHT threshold of £242,000.

Latest results from Knight Frank’s Prime Central London House Price Index reveal the strongest rate of price growth in 28 years, with prices climbing 31.0% in the year to February.

House price rises have slowed to the slowest pace since last May as interest rate hikes have worsened buyer affordability, says the latest RICS UK housing market survey.

The mix-adjusted average house price in the UK in January 2007 stood at £205,286, up from £201,090 in December 2006, according to figures from the Department for Communities and Local Government (DCLG).

Over the last five and ten years house price increases in the UK have been greatest for terraced houses, according to research by Halifax Estate Agents.

UK house prices increased by 1.8% in February, according to the latest Halifax House Price Index. The annual rate of house price inflation remained unchanged at 9.9% for the third successive month.

Halifax has examined house prices and home sales in 2,132 postcode districts across England and Wales over the past five years with reference to the stamp duty thresholds. Halifax believes the current thresholds at which stamp duty is levied should be adjusted to reflect the significant rate of house price inflation seen over the past decade.

Land Registry data shows that 2007 has begun with another rise in house prices for England and Wales. The first month of the year demonstrates an annual house price increase of 7.7 per cent and a monthly increase of 0.9 per cent. This increase has led to the average property now being worth £174,827.

House prices rose by a steady 0.7% in February, pushing the annual rate of house price growth back into double digits to 10.2%, according to the Nationwide Building Society.

The number of postcode districts where the average house price is above the inheritance tax (IHT) threshold has more than doubled in the past five years, according to the Halifax.

The mix-adjusted average house price in the UK in December 2006 stood at £201,090, up from £199,238 in November 2006, according to figures released by the Department for Communities and Local Government (DCLG).

Prime Central London house prices grow at the strongest rate since 1979, with prices climbing 30.5% in the year to January, according to latest results from Knight Frank’s Prime Central London House Price Index.

House prices increased by 1.3% in January, according to the latest Halifax House Price Index. The mixed pattern of monthly price rises and falls in December and January is consistent with a slowing market.

With 2,000 days to go to the start of the 2012 Olympics, new research from Halifax Estate Agents shows that house prices in three London postal districts close to the site of 2012 Olympics games have risen by more than 15%, or at least £35,000, since London's winning bid was announced.

UK house prices rose by just 0.3% in January, the lowest monthly rise for eight months, according to the Nationwide Building Society.

House price growth continued in December, with prices up 0.7 per cent from the previous month for a 7.8 per cent annual increase, according to data from the Land Registry.

UK house prices increased by 4.2% during Quarter 4 of 2006, according to the Halifax House Price Index.

The annual rate of house price inflation in Scotland is now 12.5%, above the UK average of 9.9%, according to the latest Quarterly Scottish House Price Index from Bank of Scotland. Prices in Scotland rose by 3.0% in Q4 2006, below the UK quarterly rise of 4.2%.

House prices in Oxford have outperformed the regional and national average since the television series Inspector Morse first aired 20 years ago this month, according to new research by Halifax.

New Halifax research shows that no county now has an average price below £100,000.

The final quarter of 2006 saw the average price for a new home surge, according to SmartNewHomes.com New Homes Index. While prices across the market as a whole experienced a fall in December, new home prices bucked the trend, up 0.1% on the previous month and 2% over the final quarter of 2006.

The average house price in the UK in November 2006 stood at £199,467, up from £197,987 in October 2006, according to the Department for Communities and Local Government (DCLG).

Prime central London property prices grew by a staggering 28.6% during 2006, the highest rate of growth since June 1979, 27 years ago, according to the latest Knight Frank Prime Central London Residential Sales Index.

Property prices in Edinburgh and the Lothians are likely to surge forward in 2007 as a shortage of quality properties continues to keep the market highly buoyant, according to the ELPG group of leading property solicitors.

House prices fell by 1.0% in December, according to data from the Halifax. Prices in Q4 were 4.2% higher than in 2006 Q3.

The London housing market continued to stride out ahead of the English regions in the final quarter of 2006, according to the Nationwide Quarterly House Price Review.

Stronger house price growth across the whole of the UK pushed the annual rate of house price inflation in the UK up to 9.3% in Q4 2006, according to research by Nationwide.

House prices in England and Wales have continued to rise steadily, according to official government figures.

The average house price paid by a first time buyer (FTB) pushed through the £150,000 barrier for the first time in 2006, according to the Halifax.

The London bonus fuelled country house market has risen strongly all year.

House prices increased by 1.2% in December, taking the annual rate to 10.5%, according to the Nationwide Building Society.

The annual Bank of Scotland house price survey of Scottish towns and cities has found that Aberdeen recorded the biggest percentage increase in house prices across the country in 2006 – an average rise of 27% to £171,767. It was also the only place in Scotland to feature in the top 20 best performing towns and cities across the UK.

Newry in Northern Ireland recorded the biggest increase in house prices across the UK in 2006 with an average rise of 54%, according to the fourth Halifax Estate Agent (HEA) annual survey of UK towns. All of the 10 towns delivering the biggest price increases are in Northern Ireland, making 2006 'Northern Ireland's Year'.

House prices inflation reached a plateau in November but market conditions remain strong, says RICS’s (The Royal Institution of Chartered Surveyors) UK housing market survey.

First-time buyers continue to face double digit annual house price inflation.