Tag Archives: Bank of England

UK Market Watch – Sales Stall, Rentals Rise and the Economy Eclipses Both

The UK property price trends that we’ve seen in the last 12 months appear to be continuing with marginal price changes reported by major UK financial institutions, Halifax and Nationwide Building Society for the end of summer. According to the surveys, the average UK house price is now £161,743 to £165,914, representing a month on month decline of between 0.6% and 1.2%.
We discuss the state of the market in the September edition of the UK Property Market Watch. Other communications on the subject are available on the UK Property Market site.
Reports indicate that unrealistic asking prices are stalling many prospective [...] Read More

As Rental Stocks Fall in the UK, Sales Prices Stall

The UK property market remained flat during March 2011, with UK financial institutions valuing the average property between £162,912 (Halifax) and £164,751 (Nationwide Building Society). Indeed, both house price index surveys indicate that the market is continuing at a modest pace, with Halifax suggesting a monthly property price change of 0.1% in March and Nationwide reporting just a 0.5% increase. According to the property portal, Rightmove (21/03), however, the average time a property is on the market has fallen from 98 days in February to 89 days in March, which perhaps suggests that the current slow paced market may be [...] Read More

UK Property Market Watch: What Will 2011 Bring?

Following the essentially flat conclusion to the property market in 2010, this year’s first set of surveys released by major UK financial institutions indicates that the lack of fluctuation is continuing in 2011. Nationwide Building Society reported that in January the average UK house price was £161,602, an annual decline of 1.1%, while Halifax listed the average price as £164,173, a decrease of 2.4% from January 2010.
Like property prices in 2010, supply and demand remains an important influence this year with tentative signs suggesting homeowners are becoming reluctant to sell in the current market. If this reluctance continues then we [...] Read More