According to figures that were recently released in relation to UK property values house prices for the month of May edged up slightly from April, rising by 1.2 percent for the months.
Recently released figures for the month of April have shown that whilst interest from buyers in the housing market increase the pace of house price falls slowed down.
Figures that were recently released by the Nationwide Building Society have shown that despite the surprise increase in house prices in March, property prices in England and Wales are continuing to fall, with April seeing a slight dip in house prices.
According to industry official the decline of house prices across England and Wales continued in March, but was at its slowest level in the space of a year. In addition to this there was also an increase in sales levels, which picked up from record lows.
Nobody can argue about the fact that the past year has been a particularly turbulent one for estate agents and other industries connected to the property market, as the slump in property sales has made things very difficult.
Since October of 2007 house prices in the UK have been falling month on month, and have so far plunged by around 20 percent compared to their peak.
Since the onset of the global credit crunch credit conditions and mortgage lending have become very restricted, and many people are finding it difficult to get a mortgage or other type of credit, which has had a severe knock on effect on many different industries.
With the world in a recession, house prices in the UK have fallen to levels not seen since March 2005. There has been a drop of 15.1% in prices in the past few months and in January alone, the housing market suffered a 0.8% decrease in prices.
For homeowners the ten years leading up to the third quarter of 2007 were very fruitful in terms if finances, the main reason being that house prices rocketed, and those that were lucky enough to own a property saw the value of their home soar and the equity in their properties shoot sky-high.
According to a recent survey from the Royal Institute of Chartered Surveyors, house prices across the UK continued to fall for the month of December, with the average number of sales per month per estate agent also falling in the final quarter of last year.
Recent figures have shown that property prices fell for a sixteenth month in a row in January.
House prices have been plummeting for the last year and a half, with homeowners seeing thousands of pounds worth of equity being wiped of the value of their homes.
According to recently released figures 2008 saw house prices in the UK fall by 15.9 percent. The figures come from a survey from the Nationwide Building Society.
The Land Registry has recently released figures that show that house prices fell by a nearly 2 percent in November, taking another tumble of around 1.9 percent. Officials said that as market activity fell for yet another month the value of homes also fell.
According to recently released reports many of the estate agents in the London area have been selling an average of less than one property per month, as the housing downturn continues its downward spiral.
Two major UK lenders have decided that they are going to postpone making any house price forecasts for next year in the current climate, even though they have been forecasting house price movement for years. Usually the Halifax and the Nationwide tend to forecast prices for the coming year, but this has all changed following [...]
According to a recently released report house price falls in the UK are coming at a faster pace than the hour price falls during the crash of the 1990s. November saw the property market go through a sharp and rapid deterioration, with data from the Halifax suggesting that house prices had fallen by over 2.5 [...]
Over the past year the UK has seen its property prices plummet month on month, with prices now having fallen by far more than many had originally predicted and with further house price falls expected over the coming year by many industry experts. Many sellers have either had to accept lower offers for their properties [...]
Each year a number of major lenders in the UK, along with the Council of Mortgage Lenders, tend to prepare a forecast for house prices in the UK over the coming year. However, this year has been very different, largely due to the turbulent housing market, tumbling house prices, and the unpredictable climate. In fact, [...]
Officials from the Nationwide Building Society have recently stated that the fall in house prices in the UK could continue over the course of 2009 and even into 2010. The building society, which has slashed mortgage lending like many other lenders since the onset of the global credit crunch, has said that the housing market [...]
According to recent figures house prices have fallen for yet another consecutive month, and after a fairly small price fall in September figures show that house prices have now fallen by a further 2.2 percent in October. The figure comes from the Halifax, and officials from the lender have said that the October fall has [...]
As most people are only too aware the value of property has been falling month on month for the past year, and property prices have plummeted since they hit their peak last October. Many homeowners have seen thousands of pounds wiped off the value of their homes in the space of just one year, and [...]
Over recent months the level of property sales in the UK has plummeted, and estate agents have reported that on average they have been selling less than one property a week. Industry officials have now reported that the low level of property sales has been driving down the value of homes, and one major lender [...]
According to a recent report homeowners that are looking to sell their properties are being forced to slash their asking prices in order to secure any hope of selling their property in the current financial climate. Fears over negative equity due to falling property prices, coupled with difficulties in obtaining affordable mortgages, has left many [...]
A recent report has suggested that the house price falls that are currently being experienced in the UK are actually worse than those seen in the 1990s. In fact, the data suggests that in the past twelve months the average UK home has lost more in value than the whole of the period in the [...]
According to a recent report house prices have fallen again in September, with officials from the Halifax claiming that prices have dropped by around 1.3% for the month. The Halifax has stated that the September fall means that the annual price drop now registers at 12.4%, and the average house price has now fallen to [...]
A recent report has suggested that it could take seven years or longer for a recovery in house prices to be seen in the UK. Researchers have said that it could take until around 2016 for house prices to reach the same level as they did last year when they peaked before starting to plummet. [...]
According to recent reports properties in rural areas are now feeling the effects of the housing slump and the global credit crunch, with the value of homes in rural areas having fallen by 7.9 percent in the space of a year. This includes cottages and country mansions, and with fewer people now able to afford [...]
According to recent reports house prices in the UK have continued their downward spiral for the month of June, with a number of leading mortgage lenders and banks publishing figures that make for gloomy reading. One of the latest lenders to release house prices figures for June was the Halifax, which confirmed that house prices [...]
A recent report has suggested that house prices in the UK could fall by around one third by 2010, which would mean that within a couple of years many homeowners could see thousands of pounds wiped off the value of their homes. Officials from Deloitte recently released the report indicating that house prices could nosedive [...]
According to a recent report around 1.7 million people are facing the threat of negative equity if house prices continue falling at the same rate as they have been for the past few months. Officials from Standard and Poor have predicted that over the next year house prices could fall by a further 17%, and [...]
Any homeowner in England and Wales is probably keeping a close eye on what is happening with property prices, as according to industry officials house prices have been tumbling now for around ten consecutive months. According to a recent report released by the Nationwide Building Society house prices fell a further 1.9% in July compared [...]
Over recent months consumers and industry officials have seen the value of properties in the UK falling over recent months, and many reports from different agencies have shown the level of falls in house prices. More recently, a report has been released that predicts the house price slump in the UK could last around four [...]
Earlier this year it was reported that the Council of Mortgage Lenders had changed earlier predictions relating to house price movement for this year. In the latter quarter of last year officials from the CML had predicted that house prices would rise by around 1% over the course of 2008. However, just a few months [...]
According to a recent report the value of homes across the UK has plummeted since last summer, with industry officials claiming that house prices have fallen by around £15,000 on average since last summer. The data was recently released by the Halifax, with claims that house prices peaked last August, around the same time that [...]
Following the recent report from the Nationwide indicating that house prices had fallen by 2.5% and had wiped thousands of pounds off property values, many industry officials have expressed their opinions on what will happen with house prices now. Some industry groups, such as the Council of Mortgage Lenders, have revised previous prediction with regards [...]
Whilst the government has tried to make minimal fuss about house prices falling in the UK over the course of this year, an inadvertent blunder by the housing minister, Caroline Flint, recently dominated the headlines. She was photographed walking into number 10 for a cabinet meeting, holding documents that clearly stated that the government was [...]
There are many people that may still remember the dark days of the early 1990s, when the aftermath of recession coupled with plummeting house prices resulted in a very poor outlook for most. Many people were plunged into negative equity as house prices plummeted. However, for the past ten years staring from the latter part [...]
Over recent months there has been a great deal of speculation over house prices in the UK, with the general consensus being that house prices are set to fall by as much as 20% over the next year or two. With house prices having soared by 200% over the past decade, this may seem like [...]
Over recent years with the property boom in full swing in the UK many of us have come across the expression gazumping, as potential buyers battled it out to get their hands on a property, trying to outbid one another as the seller rubbed his or her hands together in glee. However, with the downturn [...]
According to recent report first time buyers looking to get a footing on the property ladder in the UK are continuing to suffer, even through house prices have been falling, and are now lower than they were this time last year. Whilst many first time buyers may have hoped that falling property prices would at [...]
Over recent months there has been a great deal of speculation with regards to house price movement in the UK, and a wide range of data has pointed to the fact that house prices are falling, which could create real problems for those that have recently taken out huge mortgages on expensive properties, although it [...]
Many homeowners in the UK may already be harbouring concerns over falling property values, with industry professionals predicting that property prices could fall by up to 20% over the next couple of years. This could really affect those that have recently taken on huge mortgage for expensive properties, as it could mean that their home [...]
The CEO of a major housing development company has called for further interest rate cuts, stating that house prices are likely to remain flat for the next eighteen months, and adding that the interest rate cuts are necessary in order to support the market. The Chief Executive of Barratt Developments has forecast a tough year [...]
Recent reports have suggested that first time buyers in the UK are still in the throes of an affordability crisis, despite the falling house prices and despite predictions that interest rates are set to fall a number of times this year. First time buyers have been experiencing affordability problems for some time now, and fewer [...]
Be Positive
The great thing about buying a property is that it’s a guaranteed investment, prices just keep going up, right? Wrong. We look at what happens when the bubble bursts and prices drop.
