Anorak | House Prices Rise By 10% In A Year

House Prices Rise By 10% In A Year

by | 31st, May 2007

houses.jpg THE property boom may be starting to cool down, but house prices are still on the up, according to figures released by the Nationwide.

The building society claim that the average British house now costs £181,584, almost £17,000 or 10.3% up on May 2006.

However, the figures also reveal a slowdown in the market, with prices rising by 0.5 per cent in May compared to the 0.9 per cent rise in April.

Nationwide bigwig Fionnuala Earley has warned of yet another interest rate rise, something that could put off even more first-time buyers from starting their climb up the proverbial property ladder.

Says she: “The housing market is still showing signs of cooling and should therefore add little to the upside inflationary risks considered by the MPC. The three-month on three-month rate of growth still shows

You have already read 1 premium article for free today
Access immediately the premium content with Multipass

Or come back tomorrow

Posted: 31st, May 2007 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink