Archive for the 'House Prices' Category |
The Halifax has released data showing that house prices rose, on average, by 1% in March. Overall prices have risen by 2.8% in quarter one of 2007. March's figure brings the annual rate of house price growth to 11.1%.
(more...)The Department for Communities and Local Government (DCLG) has released results of its January house price survey. They show that house prices rose 2.1% in January, bringing the average house price to £205,286.
The annual rate of house price growth was 10.9%, up from 9.9% in December 06. London had a slightly higher rate of growth, up from 11.8% in December to 13.2% in January. London was overshadowed by Northern Ireland however which has an annual house price inflation rate of 42.5%. Experts have suggested that this high growth is due to a peace dividend.
Halifax's house price survey results for February have shown that prices rose by 1.8% on average. This keeps the annual rate at 9.9%, and brings the 'standardised average house price' to £192,233.
On a quarterly basis though, the rate of growth has dropped considerably. In the past three months, prices rose by 2.3%, compared to 4.7% in the previous three months.
Demand is dropping relative to the peaks seen in the autumn of 2006, but low supply is "continuing to exert upward pressure on house prices, particularly in London".
Halifax also note that property tax as a percentage of total tax has risen from 10.4% in 1995 to 12.0% in 2004. This compares with a 5.3% average in the Euro-zone. What do readers think of this? Is it time for a change in Government? Add a comment to air your views.
Ing Direct and Future Foundation have announced results of research into factors pointing to growth potential in property values. The bank interviewed 200 estate agents in order to compile the list of factors. The three main factors were:
ING estimates that if an area is displaying at least six of the factors, it should outperform the national average by over 13% for the next ten years.
ING Direct's chief executive Lindsay Sinclair said "Traffic wardens and more crowded public transport are not things you would normally welcome, but it appears that such annoyances do come with a silver lining."
New data from the Land Registry shows that average house prices have risen above £200k - to £211,453 to be precise.
Data from the Land Registry is from actual sale prices - unlike estate agent figures which come from market prices.
The most expensive place to live was Kensington & Chelsea, where a detached property would cost £5.6 million on average. In comparison, a detached house in Kingston Upon Hull would cost around £165k.
Prices have risen by 8.7% since this time last year, with prices remaining strong despite the recent rate rise, and further expected rises in the near future.