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Are Property Price Rises Slowing?

Are Property Price Rises Slowing?

Is The UK Property Market Just Experiencing
A Seasonal Slowdown Or Is It Something Worse?

There are a lot of reports in the media attempting to suggest that the UK property market is doomed to failure, with the latest House Price Indices (HPI) published by mortgage lenders suggesting that the UK property market is slowing, however there are fears that it might be in more serious trouble.

Halifax latest figures show that property prices in the three months prior to September 2014 were 2.7% higher than in the preceding quarter but there was an average 0.6% property price rise across the UK during September, resulting in an average property price of £187,188 (GBP).

Halifax say that this is the second successive decline in the quarterly rate and predict that the annual house price growth rate has already peaked at 10% and future growth will be at a considerably slower pace. 

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Rightmove Doubles UK Property Values Forecast As Property Prices Increase Again

Rightmove Doubles UK Property Values Forecast As Property Prices Increase Again

UK property values increase for seventh month in a row

UK property values have reached a new five year high, according to property portal, Rightmove, who revised their forecast of UK residential property values, and now reckon that residential property prices will increase to double their previous property value forecast for 2013.

As Spotlight reported last week, residential property values have already increased by 0.3% to average £253,658 (GBP), and now Rightmove reckon property values will now climb by up to 4% this year instead of the 2% previously predicted. However, it wasn’t good news for the whole country as residential property prices in London remained unchanged, holding at a record average of £515,379 (GBP).

The economic incentives introduced by the Government and the Bank of England (BoE) to increase overall lending and credit supply has boosted the demand for residential property ownership from first time buyers.

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