Conveyancing Month!

 

 

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 The UK’s first monthly on-line journal dedicated to conveyancers!

 

News...

In a sudden reversal of a somewhat buoyant housing market, house prices dropped 1.2% in June according to figures released by the Halifax .

 

House prices increased by 4.5% in the first half of 2006 with a 2.6% rise during 2006 Quarter 2.

 

The level of activity appears to have moderated in recent months, said the bank. The number of mortgage approvals to fund house purchase during March-May 2006 was down 4% compared with the preceding three months after adjusting for seasonal factors. Property transactions in England and Wales fell for the second consecutive month in May on a seasonally adjusted basis.

 

But the lender was keen to emphasise that June’s fall meant a more serious fall was not about to happen. "Sound fundamentals, underpinned by a strengthening economy, high levels of employment and low interest rates, will continue to support housing demand over the second half of 2006, ensuring that the market remains in good health," said Halifax chief economist, Martin Ellis.

 

"The annual rate of house price inflation, however, is expected to ease, partly because the corresponding figures last year were strong. Pressure on householders' finances from utility bill and council tax rises, combined with speculation of higher interest rates, are also likely to constrain demand," he added.

 

 House Price Inflation Easing