UK house prices up 0.5 percent in October

It has been revealed that UK house prices rose 0.5 percent in October. This is the 6th month in a row that has seen a rise, although the pace has begun to slow down. The end of the traditionally strong summer season will be partly due to the slowing of the momentum.

July and August saw a rise of 1.4 percent, and Septembers gain was 0.9 percent. Experts already predicted that house price inflation would moderate as strong increases over the summer months would not be sustainable into the Autumn and Winter.

"Although it is too early to tell, it may also reflect a more natural level of stock available for sale coming to the market, alleviating some of the shortages of property seen during most of this year." said Martin Gahbauer, Nationwide's Chief Economist. This low number of properties on the market was believed to partly boost values over the summer, and as supply normalises prices will fall back a little.

The Financial Services Authority has also recently called for stricter lending controls which will also dampen the market in the near future.

With the recession lasting longer than predicted, unemployment and subdued wages will continue to slow the housing markets recovery. On the positive side interest rates are likely to remain low for a longer period, giving more people an opportunity to grab an affordable mortgage.
It has been revealed that UK house prices rose 0.5 percent in October. This is the 6th month in a row that has seen a rise, although the pace has begun to slow down. The end of the traditionally strong summer season will be partly due to the slowing of the momentum.

July and August saw a rise of 1.4 percent, and Septembers gain was 0.9 percent. Experts already predicted that house price inflation would moderate as strong increases over the summer months would not be sustainable into the Autumn and Winter.

"Although it is too early to tell, it may also reflect a more natural level of stock available for sale coming to the market, alleviating some of the shortages of property seen during most of this year." said Martin Gahbauer, Nationwide's Chief Economist. This low number of properties on the market was believed to partly boost values over the summer, and as supply normalises prices will fall back a little.

The Financial Services Authority has also recently called for stricter lending controls which will also dampen the market in the near future.

With the recession lasting longer than predicted, unemployment and subdued wages will continue to slow the housing markets recovery. On the positive side interest rates are likely to remain low for a longer period, giving more people an opportunity to grab an affordable mortgage.
It has been revealed that UK house prices rose 0.5 percent in October. This is the 6th month in a row that has seen a rise, although the pace has begun to slow down. The end of the traditionally strong summer season will be partly due to the slowing of the momentum.

July and August saw a rise of 1.4 percent, and Septembers gain was 0.9 percent. Experts already predicted that house price inflation would moderate as strong increases over the summer months would not be sustainable into the Autumn and Winter.

"Although it is too early to tell, it may also reflect a more natural level of stock available for sale coming to the market, alleviating some of the shortages of property seen during most of this year." said Martin Gahbauer, Nationwide's Chief Economist. This low number of properties on the market was believed to partly boost values over the summer, and as supply normalises prices will fall back a little.

The Financial Services Authority has also recently called for stricter lending controls which will also dampen the market in the near future.

With the recession lasting longer than predicted, unemployment and subdued wages will continue to slow the housing markets recovery. On the positive side interest rates are likely to remain low for a longer period, giving more people an opportunity to grab an affordable mortgage.
It has been revealed that UK house prices rose 0.5 percent in October. This is the 6th month in a row that has seen a rise, although the pace has begun to slow down. The end of the traditionally strong summer season will be partly due to the slowing of the momentum.

July and August saw a rise of 1.4 percent, and Septembers gain was 0.9 percent. Experts already predicted that house price inflation would moderate as strong increases over the summer months would not be sustainable into the Autumn and Winter.

"Although it is too early to tell, it may also reflect a more natural level of stock available for sale coming to the market, alleviating some of the shortages of property seen during most of this year." said Martin Gahbauer, Nationwide's Chief Economist. This low number of properties on the market was believed to partly boost values over the summer, and as supply normalises prices will fall back a little.

The Financial Services Authority has also recently called for stricter lending controls which will also dampen the market in the near future.

With the recession lasting longer than predicted, unemployment and subdued wages will continue to slow the housing markets recovery. On the positive side interest rates are likely to remain low for a longer period, giving more people an opportunity to grab an affordable mortgage.

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