Recent changes in the housing market indicate that after a period of high growth, the situation is once again stable, according to Halifax .
The average value of a property is now £177,020, some 8.8 per cent higher than in the same month last year.
July saw a monthly price increase of 0.2 per cent, following drops of 0.1 per cent and 1.2 per cent in May and June this year, respectively.
"This mixed pattern of monthly price rises and falls is a typical feature of a more stable housing market," Martin Ellis, Halifax's chief economist, said.
"Overall, house prices have increased by only 0.9 per cent in the past four months compared with a 3.3 per cent rise in the preceding four months," he added.
"Sound fundamentals will continue to support a healthy housing market over the remainder of 2006," Martin Ellis added.
The seemingly more positive news comes as the Bank of England decided yesterday to push interest rates up 0.25 percentage points.
Business leaders who had opposed the increase, fearing it would make consumers less likely to buy on the high street and take a mortgage have called for this to be the only increase this year.
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
Fluctuating house market stable Mon, 07 Aug 2006
     Recommended linksGet a FREE mortgage quoteLooking to buy or sell a property? Estate Agents Optimistic about Market Place What Can Add Value to Your House OFT guide to buy or selling your home |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2008 estateagents.co.uk
© 1999-2008 estateagents.co.uk