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News - 2 October 2014

House Prices Fall In September

Just released figures from The Nationwide shows the annual rate of house price growth slowed in September to 9.4% from 11% the month before. This is the first time that figure has fallen since April 2013.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Regional variations remain with London and the South continuing to lead the market. Prices in London are 31% above those reached at the last peak of the market in 2007. Elsewhere, prices are just 1% above pre-crisis levels.”

Nationwide says average house prices across the UK have fallen to £188,374, with the average price of a house in London is £401,072.

Nationwide said it now expects growth to slow even further over the next three months, with signs that buyer demand may be starting to moderate.

Nationwide's chief economist Robert Gardner said: "There have been tentative signs from surveyors and estate agents that buyer demand may be starting to moderate, but the low level of interest rates and strong labour market suggest that underlying demand is likely to remain robust."

The data comes in the week that the Bank of England will announce whether to implement new measures to control house prices - and whether to change the rules for the government's Help to Buy programme.

Even though the monthly figures show house prices falling, they still rose by 1.5% over the quarter.

If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help
 

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

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