House prices rose by 5.9% last year

I would like to take this occasion to wish all our readers a Happy and Prosperous New Year.   But the first question to be addressed in 2010 is whether the housing market is going to be happy and prosperous. According to the Nationwide building society, house prices continued to grow for the eighth continuous month in December, rising by … Continue reading

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First annual rise in house prices since March 2008

According to the Nationwide, house prices were 2.0% higher in October 2009 than they were a year earlier, to give an average house price of £162,038. This was the first annual rise in house prices for nineteen months.   Whilst this is promising news for the housing market at first glance, the figures behind the headline are not all good. … Continue reading

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House prices reach same level as September 2008

The price of a typical house in September 2009 rose by 0.9% to reach £161,816. This was essentially the same level as a year earlier, according to the latest house price survey by Nationwide.  Over the first nine months of 2009, the seasonally adjusted index of house prices has risen by 4.1%, though relative to the October 2007 peak it … Continue reading

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Major losses at State rescued banks

Northern Rock, the nationalised bank, reported losses yesterday which had risen by 24%. The bank was nationalised in February 2008 because it was unable to fund its business in the money markets and customers were defaulting on their loans. It reported a total loss of £724.2m in the first six months of this year, which compared with a loss of … Continue reading

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First rise in house prices since January 2008

House prices rose in June by 0.1% compared to the previous month according to figures released yesterday by the Land Registry. This is the first time that the monthly change has been positive since January 2008.   There have been occasional months recently when both the Halifax and the Nationwide indices have shown an increase in house prices. However, both … Continue reading

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