Showing posts with label prices. Show all posts
Showing posts with label prices. Show all posts

Thursday, May 5, 2011

UK house prices 'remain static'

4 May 2011 Last updated at 06:00 GMT Homes Some areas have proved more popular with house buyers and sellers UK house prices fell by 0.2% in April compared with March but values are showing little momentum in either direction, according to the Nationwide.

The building society said property values had fallen in three of the last six months and risen in three, because prices were "static".

The average home cost 1.3% less in April than the same month a year ago.

A typical home cost £165,609, and the building society said a strong rebound in prices was "unlikely" in 2011.

Robert Gardner, Nationwide's chief economist, said it was not unusual to see a pattern of modest increases and decreases in house prices when the market was fairly static, as it had been since last summer.

"A strong rebound in the market remains unlikely as the recovery is still expected to remain modest by historic standards," Mr Gardner said.

"In our view, the most likely outcome is that house prices will continue to move sideways or drift modestly lower through 2011."

The three-month on three-month comparison showed that prices rose by 0.6% in the three months to April compared with the previous quarter, Nationwide said.


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Saturday, April 30, 2011

Russia ups rates as prices rise

29 April 2011 Last updated at 10:46 A man carrying potatoes in Stavropol, Russia Food prices have been a big contributor to Russian inflation Russia is to raise its key interest rates for the second time this year as it attempts to control inflation.

The Russian Central Bank will increase the refinancing rate from 8% to 8.25% and the deposit rate from 3% to 3.25% on Tuesday.

Inflation in the year to 25 April stood at 9.6%.

"Everything is directed to battling inflation. That is set as the number one task," said Olga Sterina at Uralsib.

"The central bank decided to take a pre-emptive step. Before there were a lot of concerns about the slowdown in economic growth but... our monetary authorities are not concerned about a slowing economy against the backdrop of high oil prices," she added.

A similar rate rise in February was the first since 2008.

The rouble has risen against the dollar to its highest since December 2008.


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Tuesday, April 12, 2011

NI house prices 'to drop further'

12 April 2011 Last updated at 05:19 GMT House on market NI house prices will continue to fall this year. according to the RICS survey House prices in Northern Ireland will continue to fall this year, according to a survey by the Royal Institution of Chartered Surveyors.

A report by RICS and Ulster Bank shows prices are expected to go down over the next three months.

Reduced household incomes and a growing number of house repossessions are to blame for the prolonged dip in the market, according to RICS.

However, falling prices have lead to an increase in house sales.

RICS recorded a rise in the number of properties sold during the past three months.

This trend is expected to continue for the three months ahead.

RICS housing spokesman, Tom McClelland said: "It is clear that consumer confidence remains low due to high inflation, as well as the measures that have been put in place to deal with the UK deficit and due to the general economic environment.

"Household incomes are falling in real terms, and interest rates will rise, but will likely still be very low in historic terms for some time.

"However, where asking prices are realistic, sales will take place, and this will continue to be the case."

Mr McClelland said some sectors of the market are seeing steady activity. These include houses priced under £125,000 and keenly priced new build homes.


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