Thursday, August 30, 2007
BBC reports some bearish news.
There are now "clearer signs" that demand in the housing market has slowed, according to the latest property survey from the Nationwide. Average UK house prices rose 0.6% in August from July, just above market expectations of a 0.5% gain, it found. But taken on an annual basis, the Nationwide said house price inflation fell to 9.6% from 9.9% in July, the slowest annual rate since March. The Nationwide added that it still expected house price growth for 2007 as a whole to slow to between 5% and 8%. Earlier this month, the Halifax also said that the housing market appeared to be slowing, as did the Land Registry on Wednesday.