House Prices Fall in August
UK house prices fell by 1.6% in August 2004, the first fall in two years
3rd September 2004
House prices fell 1.6% in August, the first fall in two years, according to mortgage lender Halifax.
Prices have still risen over the last 3 months, up 1.8%, although this is markedly less than the 6.5% rise in the previous 3 months.
Industry analysts are generally taking this as evidence that the market is slowing as the effects of interest rate rises are felt, but warn that prices normally fluctuate to some extent, especially in summer.
Opinion is still divided over whether there will be a price crash, but with interest rates still low by historical standards, many economists now think that a 'flat' market is more likely.
Read More: BBC 'Your Money'
|
Products from Halifax : Pet Insurance, Annual Travel Insurance, Car Insurance, ISA Saver Direct, Loans, Money Back, One, Web Saver |
|
More on Property Prices : New Record for Mortgage Lending in June (News, 21/07/2006), Mortgage Lenders Predict Continued Property Price Rises (News, 07/12/2005), 12% of Properties Now Above Inheritance Tax Threshold (News, 21/11/2005), Mortgage Approvals Up Again (News, 28/09/2005), 9 out of 10 First Time Buyers Still Struggle (News, 13/05/2005), See all 18 Property Prices stories >>> |
Home - Investment - Property
