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News - 8 August 2014

Rise in average house price

 According to the Halifax, July boasted the largest annual change in UK house prices since September 2007, property prices grew by 3.6% in the three months to the end of July compared with the previous quarter.

 
The monthly increase was 1.4% compared with June, making the average home worth £186,332.
 
This is the first time since September 2007 that the annual change has gone above 10%, according to the Halifax. It accelerated from an 8.8% rise in June.
 
Stephen Noakes, mortgage director at Halifax, said: "While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates."
 
Lavinia Newman, Founder of ABDS and a business strategist comments:
“Since December there have been four monthly price increases and four price falls, however, the survey also shows that 70% of British adults predicted the average UK house price will rise over the next year.”
 
Not all lenders, conversely, agree.
 
The Nationwide's estimate of the annual house price rise slowed from 11.8% in June to 10.6% in July. The Land Registry has also suggested that seven out of 10 regions of England and Wales showed a monthly fall in prices, although these short-term price changes are often volatile.
 
The year-on-year comparison is calculated slightly differently by the two lenders. The Halifax compares the previous three months with the same three months a year earlier to give a smoother comparison, rather than a direct comparison of the equivalent months as calculated by the Nationwide.
 
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
Mindful of our client’s long term strategic goals
 
Helping Your Business is Our Business

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