Property prices still rise - 05/10/2006
Interest rate rise appears not to affect property prices
£Million homes are selling at a rate of 14 a day - October News - Remortgage decreases
Nationwide Building Society has released figures that bring the annual rate of house inflation to 8.2 per cent, its fastest rate since February 2005. Experts, however, say that the housing market could be heading for a serious slow down next year, even though house prices are rising at their fastest rate in two years regardless of the recent rise in interest rates.
Economists expected the growth rate to be a lot slower and has led some to believe that their will be a mini bust during 2007 hot on the heels of the current mini boom. Nationwide have reported the average cost of a property going through their books was £169,413 in September which is almost £13,000 more than at the same time last year. A typical home has seen a daily rise in valuation of more than £35. Loan to value ratios have also increased and now typically reached 80 per cent compared to 41 per cent in the first half of last year. First time buyers are looking for a typical 90 per cent loan.
£Million homes are selling at a rate of 14 a day - October News - Remortgage decreases
