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Nationwide reports cool housing market

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  • Nationwide reports cool housing market

    Nationwide - the continual fountain of bullish optimism - has declared the property market to be "reasonably healthy", despite the fact that it also stated there was a "shap cooling" in the market over April, with house price inflation rising at just 0.1% across the UK.

    http://news.bbc.co.uk/1/hi/business/4949372.stm

    Prices rose by just 0.1% in April, against a 1.1% increase a month ago, and annual house price inflation fell to 4.8% in April from 5.3% in March.
    Prices in the three months to April rose by 1.8% compared with the previous quarter, down from 2.1% in March.
    There's also a reported fall in the number of approved mortgages from 121,000 in January to 115,000 in February.

    Still, that means with the brief March surge, that means next month if prices remain cool, you can expect the Nationwide to comment that the market remains healthy, and point to higher approval rates for mortgages in March.

    On an aside note - there are *a lot* of For Sale signs where I am in Scotland - and not many sold ones. To my untrained eye, I'd say there were more people looking to sell than buy at the moment - and this in an area where house price inflation is supposed to be particularly good against the rest of the UK.

  • #2
    I heard on the news yesterday that there are calls to lower the percentages charged for mortgages to help people pay their mortgage.

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