House Price Watch: UK HOUSE PRICES FALL IN THIRD QUARTER

Horizontal Rule
1st November 2012

Analysis of data from the leading UK house price indices reveals that the UK housing market saw price growth slow during the summer, with prices up 3.7% annually, at the end of the third quarter. The average price of a home is now £203,533, an increase of £7,300 since the start of the year.

The annualised average rate of growth for September was -3.6% while the three, six and 12 month annualised rates of growth are -5.3%, 1% and 2% respectively.

Stuart Law, Chief Executive of Assetz, said:

This has been a tricky year so far for the housing market but there are a couple of early indicators that things are about to improve in the lending market. Firstly, the Funding for Lending scheme could make a real difference, with an increase in loans to first time buyers at the bottom of the market slowly filtering up. Secondly, the current competition between lenders to offer the best deals on loans at 60% LTVs is an excellent sign. This lending war will creep up to 65% and then 70% loan to values, and higher, providing a foundation for a strong mortgage market and allowing some of the pent up demand from homebuyers to be released.


OPP Best Innovation 2009
OPP Best Estate Agent 2009

Stuart Law's Blog

Stuart Law

Stuart Law, CEO of Assetz Plc, is an experienced & active investor in property, whose views are often sought by the media. Stuart Law's Property Investment Blog