December saw a late-year house price increase, leaving national averages at almost exactly the same rates as May. The average price for a house in England is now £157,250. The news was reported in Nationwide’s end of year survey for the complex market period that was 2005.
Average increase for 2005 levelled out at 3%, far less than the 2004 increase of 12.7%. In monetary terms, an average houses price increased by approximately £4,500 in 2005, working out at £13 per day. Nationwide predicted a further house price increase in 2006, but they only stipulated a figure from 0 to 3%. Nationwide reported that price inflation, in single figures for the first time in half a decade, was also outperformed by the equity market.
However, despite these positive increases, the National Association of Estate Agents indicated that numbers of home buyers had actually dropped off in the back end of 2005. Home seekers recorded by estate agents seemed to be falling, in line with a slight decrease in the amount of property for sale.
It seems that 2006 will remain an unknown quantity for the housing market.
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Last minute price-rise, but buyers levels fall say estate agents Thu, 05 Jan 2006
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