House prices slip back £3,400 by Finance News Bulletin

Published: 31/01/07

THE possessions mini-boom in the South of England, which has ambitious up prices across the country, is running out of steam, according to one of the most optimistic house cost surveysSLOWING DOWN: The interest rate rise, senior bills and the August quiet period have contributed to a drop in asking pricesThe latest figures free by property website Rightmove today showed that asking prices in England and Wales fell by £3,400 between near the beginning July and near the beginning August to an average of £214,040Rightmove supposed the 16% drop still left annual house price inflation at 9%, a slip back from the 10

6% that it said prices were rising year-on-year last monthThe survey, which critics say offers an over-optimistic outlook on home expenses as it is based on agents' asking prices, showed the standard property was now taking 81 days to put up for sale compared to 78 a month earlierThe recent rise in interest tax and the belief they could rise further, along with long-drawn-out buyer affordability were having an effect on prices,said Miles Shipside, Rightmove's profitable director'Prices have passed their peak for 2006

The record cost levels seen so far this day were driven by the South of the state With that market cooling, and the signals from the store of England that interest rates may move up again, sellers may have to reduce their price expectations', he saidThe July heatwave and August hold up in activity also impacted on prices with London presentation its first fall in home expenses since December 2005, as asking prices fell by 1

5% - although annual inflation is still far above the ground at 139%Recent information by the Council of Mortgage Lenders and the Royal Institution of Chartered Surveyors said the accommodation market continued to be strong in July different Rightmove, their reports take seasonal variations into explanation

I don't think anyone really knows whats going on Halifax say up, then down, then back up again whilst the nationwide are proverb up then up, rightmove were always upwards but now downThere's a whole raft of information now saying that belongings are heading south and the pessimist in me would say that these reports published by agents and lenders are targetted at the MPC to turn Mervyn out of another rate rise

If home prices can slip over Summer at what time Houses tend to look their best), then how will it fare over Autumn and Winter I've lately taken my name off several land agents lists as a potential buyer (some areas are imho expensiveSelect a loan term 6 months 1 year 18 months 2 existence 3 existence 4 existence 5 existence 6 existence 7 existence 8 existence 9 existence 10 existencePlease select a type of insurance Life insurance Home and contents Car Breakdown services physical condition - medical Health - dental Travel favorite - dog favorite - cat

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