Hometrack finds further house price fall
House prices have fallen by one per cent this month, Hometrack said today.The property research company also claimed that the average price now stands at 3.2 per cent below that of June 2007.In addition, the Hometrack data shows that new buyer registrations have fallen by over 50 per cent - providing further evidence that fewer people are willing to get on the property ladder due to the credit crunch.Commenting on the firm's findings, Richard Donnell said: "In the short term it seems inevitable that prices will continue to post modest falls until such time as confidence improves."Meanwhile, seperate house price statistics for May have claimed to show no change in the average property cost.The data, from the Land Registry, puts the annual house price inflation rate at 1.8 per cent - markedly different from the Hometrack analysis.
Share this..
Related stories
EU pension timebomb starts ticking
As the UK government gets set to tackle the UK public sector pension deficit, with rumours that employees will be asked to contribute more in the future, there is growing concern about a similar situation in the European Union. Estimates with regards to Europe suggest that the ratio of pensioners to workers in Europe could double in the next 50 years which would place massive pressure upon state p...
Read MoreUS inflation falls to 0%
In a rather alarming turn of events, it has today been revealed that US inflation has fallen to 0% for last 12 months and would actually have fallen below zero had it not been for a rise in the cost of food and petrol. The US is now facing a potential deflationary period where negative inflation sees the price of goods and services falling month on month causing a reduction in investment, increase...
Read MoreAre you prepared for the Mortgage Market Review?
09/04/2014 As of 26th April, the Mortgage Market Review (MMR) will come into effect. This will affect everybody hoping to apply for a mortgage, including those re-mortgaging their homes. This is because applying for a mortgage will become a more rigorous process. Mortgage lenders will soon be obliged to check each mortgage applicant’s finances and ability, in order to decide how much a mor...
Read MoreWhy does the Land Registry property report differ from others?
As the Land Registry property report for May shows a further 0.2% reduction in UK property prices, against a 2.6% increase and a 1.2% increase as suggested by Halifax and Nationwide reports respectively, many people are totally confused as to what they should and should not take into account. So why does the Land Registry report always seem more negative than the likes of reports by Halifax and Na...
Read MoreBarclays bank gives in to investors
The top four executives at Barclays bank have all agreed to forfeit their bonuses for 2008 in an attempt to appease investors deeply concerned at the terms of the Middle East fundraising. The fundraising has come under pressure because of the added expense over the UK government offer, all because Barclays bank did not want to be at the beck and call of the UK government.
There is a...