Tuesday, August 29, 2006

Hometrack forecast slowdown

House prices rise in August - but set to slow

The north-south divide in house price growth continued over August. Average residential values in the capital grew by 0.9% over August with above average growth in the South West (0.5%) and the South East (0.4%). In contrast, house prices were static in two regions and up by just 0.1% in three others. Richard Donnell commented: "The divergence in house price growth is largely a result of affordability..." Compounding these trends, the Hometrack survey also highlights longer sales periods in the lower growth regions as well as buyers having to accept slightly larger than average discounts on asking prices. [A VI suggesting price cutting inevitable ?]

Posted by tinecu @ 12:46 PM (551 views)
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