• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, February 28, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home News

House prices hit nine-year low even as interest in property market surges

by Sam Allcock
13/06/2017

RelatedPosts

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

Santander Loses 8771 Million In 2020 After Accounting Adjustment

Ford Lost $ 1.276 Million In 2020 To Covid-19

Pandemic Has Caused A Creativity Crisis In Companies

Load More

LONDON – House prices continued their slide in September even though the number of people interested in the property market as well as the mortgage lending increased in the same month, according to the latest report from the Nationwide building society.

UK’s biggest building society’s monthly house price survey found that house prices in September fell by 0.2 percent as compared with those in August. These figures forced the annual rate of growth to its lowest level in more than nine years. The annual increase hit its lowest level since May 1986 and slid to just 1.8 percent. However there was good news for first time buyers since the house price rise is well below the concurrent increase in wage growth making houses more affordable to this segment.

Nationwide’s group economist, Fionnuala Earley commented that their monthly data since the start of this year has been pretty mixed, “with several months of small falls and rises, but looking at changes over three months shows the underlying trend more clearly. House price growth stalled in the three months to September, with no increase on the previous three months. Yet house prices are still higher than at this time last year.”

The average price of a house in the country was £156,517, a marginal increase as compared to £153,727 at the same time last year. Ms Earley pointed out that the relatively low level of inflation had served as a buffer and had kept the borrowing costs under control, “This may help to explain why we have seen a surprisingly swift return of buyers to the market,” she said.

These comments were substantiated by the data from the Bank of England, which showed that the number of mortgages approved in August for purchasing property was 107,000. This was almost 8,000 more than the previous month and easily beat the average of 94,000 in the last six months. “Estate agents have consistently reported increased buyer interest over the last few months, which should help to support the market going forward,” Ms Earley concluded.

Previous Post

Datamonitor acquires Verdict for 4.7 million pounds

Next Post

Tesco swaps overseas assets with French retailer Carrefour

Related Posts

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths
News

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

25/02/2021
Santander Loses 8771 Million In 2020 After Accounting Adjustment
News

Santander Loses 8771 Million In 2020 After Accounting Adjustment

09/02/2021
Ford Lost $ 1.276 Million In 2020 To Covid-19
News

Ford Lost $ 1.276 Million In 2020 To Covid-19

09/02/2021
Next Post

Tesco swaps overseas assets with French retailer Carrefour

BNFL is set to sell its nuclear decommissioning unit

BNFL is set to sell its nuclear decommissioning unit

Country’s top medical officer says Avian flu will kill 50,000 Britons

Latest News

The Forex market starts with Traders Union

The Forex market starts with Traders Union

26/02/2021
5 Most Common Causes Of Clogged Drains

5 Most Common Causes Of Clogged Drains

26/02/2021
Energy Smart Products Useful For Your Home

Energy Smart Products Useful For Your Home

26/02/2021
Tools That Every HR Manager Absolutely Need

Tools That Every HR Manager Absolutely Need

26/02/2021
Trust is what drives a moving industry

Trust is what drives a moving industry

26/02/2021
How to Use Web Forms to Collect Customer Feedback

How to Use Web Forms to Collect Customer Feedback

25/02/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.