You are here: Home - Uncategorized -

Property looks lusty as prices power up again for Spring

0
Written by:
08/03/2007

Property prices are still rising strongly in 2007 as houses are proving to be an enduring UK investment for many people, according to mortgage lender Halifax.

The monthly Halifax survey showed that prices rose by 1.8% in February, maintaining the annual rate of house price inflation at just under 10%.

According to Halifax, the average house price is now £192,233, and in the three months to February prices rose by 2.3%, half the level seen in the preceding three months.

But the February rise was the strongest seen since October 2006 and pointed to the continuing health of the UK property market as a saving and investment arena.

“A shortage of new and second hand properties available for sale has continued to push up house prices so far in 2007 as people make their UK investment in a home,” said Halifax chief economist Martin Ellis.

“However, I think that as the year goes on, higher house prices, making it hard for first-time buyers to come into the market, and rising interest rates, could dampen things down.

“The number of new mortgage approvals, a key indicator of how things are going, has been slowing of late.”

To back Ellis’ claims of a slowing market, the Royal Institution of Chartered Surveyors reported last week that enquiries from potential homebuyers making a UK investment in property had fallen for the first time in two years.

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

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Hi-tech motors create new profit areas for insurers

The rapid pace of technological advance in motor car design has led to the imminent redrawing of the way in...

Close