UK Residential Property Prices Stable
Residential property prices have seen slight improvement over the past three months, and although the overall gains do not reflect the health of prices even a year ago analysts are taking it as a sign of market stabilization. Mortgage applications also edged up 4% between May and June and are another indicator of returning interest in homeownership among British buyers. Economists are quick to note that there is a long way to go, but the trend is expected to continue as the economy improved and more people take advantage of historically low interest rates. For more on this continue reading the following article from PropertyWire.
Residential property prices in the UK the three months from May to July were 0.5% higher than in the preceding three months, according to figures published today (Friday 05 August) by the Halifax.
It is the first increase in this measure of the underlying trend since May 2010 when prices were up 0.1%. It means that the UK house price in July was marginally higher, 0.7%, than in December 2010 on a seasonally adjusted basis, at £163,981.
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