You are here: Home - Uncategorized -

House prices still power upwards across the UK

0
Written by:
12/03/2007

The average price of a house in the UK surged in January as people’s saving and investment in property sustained its confidence, according to figures from the Department for Communities and Local Government (DCLG).

The DCLG said that average prices were rising by 10.9% in a year in January, up from 9.9% in January, figures in line with other surveys from sources like Halifax and Nationwide Building Society.

A substantial 2.1% rise was recorded between December 2006 and January 2007, with the average price increasing by £4,000 in January alone.

The DCLG added that the average price of a home in the UK is now £205,286, confirming that property is a favourite UK investment for many people.

Northern Ireland saw the strongest year-on-year price growth, with annual house price inflation currently running at about 42.5% in the province.

Many experts regard this phenomenal performance as one of the effects of the peace dividend, as more people were now prepared to make a significant saving and investment in property there.

In England, annual house price inflation rose from 8.9% to 9.9% in January. This was powered by a strong performance from London, where City bonuses and an influx of wealthy foreigners, many from Russia, contributed a strong saving and investment element to the property market.

 

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
First-time buyers eye property abroad for cheap deals

A quarter of first-time homebuyers would consider moving abroad to live more cheaply so they could save a deposit for...

Close