London sees fall in property prices
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Business & money: House prices have dropped for the first time in two years, adding to worries of unstable market.
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OUSE prices have fallen for the second month running. Rising interest rates and warnings that the market is overheated have apparently left buyers running scared.
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UK house prices have fallen for the fourth month in a row, says the Royal Institution of Chartered Surveyors.
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Home prices in Britain fell the most in three years in December, and the threat of more declines may cause the property market to seize up in 2008, said Hometrack Ltd., a London-based research group. The average cost of a home in England and Wales slipped for a third month, dropping 0.3 percent to Â£175,200 ($348,350). âThe second half of the year has seen a major reversal in confidence,â Richard Donnell, director for research at Hometrack, said in a statement. âJust as the financial markets have faced a liquidity squeeze, so the housing market is in danger of facing its own liquidity squeeze.â Prices increased 3 percent from a year earlier, the least in 18 months, Hometrack said.
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House price inflation appears to have reached a plateau, according to government statistics.
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LONDON (CBS.MW) -- Activity in the UK housing market is continuing to slow, according to data from two major market participants, though a surprise 1 percent rise in house prices in November helped to offset immediate fears of a market crash.
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House prices fell for the second month running during August as the market continued to feel the effects of rising interest rates, figures show.
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London equities eased back from six and a half year highs on Monday, with losses for business publishing stocks on expectations of increased competition in the sector.
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House prices in the UK fell slightly in October says the Department for Communities & Local Government.
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THE IMF&#39;s World Economic Outlook has warned of a possible sharp fall in UK house prices, based on interest rate rises priced into future markets, the market would probably slow down significantly in the next 18 months.
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London equities fell on Thursday, on renewed worries about potential write-downs in the financial sector.
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House prices will suffer a &quot;modest&quot; fall over the next couple of years, the Bank of England warned yesterday as it cut its forecast for economic growth.
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A sharp and surprising downturn in Britain&#39;s economy made the City predict yesterday that interest rates have peaked, and signs emerged that the higher cost of borrowing is putting the brakes on the housing market and the manufacturing sector.
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Property prices are falling at rates not seen since the 1990s housing recession, warn surveyors.
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Signs of a housing slowdown are now beginning to surface across the UK as a fall in the number of new buyers has now created a surplus of properties, suggests the latest Hometrack house price survey.
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House prices will decline 2 per cent over the next year as the market experiences a &quot;measured slowdown&quot;, the Halifax said yesterday.
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A Bank of England rate-setter warns that a downward spiral of falling house prices threatens the economy.