House Price Slows - 08/05/2006
House price slow down
Treasury Stamp Duty Boom - May News - Pensioners need free financial advice
A survey by the Nationwide Building Society recently indicated that the price of a property in the UK remained almost constant throughout May and the prices in the three months running up to May rose by only 1.6 per cent compared with the previous three months to April.
The average cost of a house is now just under £165,000 which is up by around £7,000. The Bank of England also reported a possible slow down as it indicated that mortgage approvals dropped in April by about 8,000 on the previous month to 106,000 in total. The average for the previous six months had been 115,000 successful applications.
The slow down is seen by many to indicate that the housing market is still suffering and will not be returning to its usual boom time during the spring months as estate agents across the country report lower foot falls and a general cooling of the market.
Treasury Stamp Duty Boom - May News - Pensioners need free financial advice
