Property crash is not everyone's prediction

Grovelawn Financial News 20/05/2008

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Rate cuts and price steadying

The latest figures showing annual growth in the property market, based on information from five major house value surveys, shows that although the figures aren't showing an up turn in property prices this year, they are showing a steady annual growth when compared to figures from last year. The figure for this April is up on that of April 2007.

Although the property market has seen a drop of 3.6 per cent drop in value since March, the average property price now £211,014, this incorporates a rise of value in the region of £2,279 since April 2007. Small rate cuts from from some mortgage lenders was welcomed by the mortgage industry as Halifax decided to cut its rates on three and five year fixed and tracker mortgages. Nationwide have already reduced their rates.

← Barclays announces losses | News For May 2008 | Barclays announces cuts in overdraft charges →

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