This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6101154.stm
The article has changed 8 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| House price growth 'still firm' | House price growth 'still firm' |
| (20 minutes later) | |
| House price growth cooled slightly in October, the Nationwide has said, but the underlying trend "remains firm". | House price growth cooled slightly in October, the Nationwide has said, but the underlying trend "remains firm". |
| It found that UK house prices rose by an average 0.7% last month, compared with a 1.3% increase in September. | It found that UK house prices rose by an average 0.7% last month, compared with a 1.3% increase in September. |
| However, the latest three-monthly trend showed prices up 2.6% compared with the previous quarter - the fastest pace since September 2004. | However, the latest three-monthly trend showed prices up 2.6% compared with the previous quarter - the fastest pace since September 2004. |
| The annual rate of increase dipped to 8% from 8.2% the month before. The average UK home now costs £169,623. | The annual rate of increase dipped to 8% from 8.2% the month before. The average UK home now costs £169,623. |
| Slowing approvals? | |
| "Recent housing market indicators have been firm, and the latest approvals data from the Bank of England show that the August rise in interest rates did nothing to curb demand," said Fionnuala Earley, Nationwide's group economist. | "Recent housing market indicators have been firm, and the latest approvals data from the Bank of England show that the August rise in interest rates did nothing to curb demand," said Fionnuala Earley, Nationwide's group economist. |
| "However, September also saw a big fall in the balance of estate agents reporting an increase in new buyer enquiries and net sales," she added. | "However, September also saw a big fall in the balance of estate agents reporting an increase in new buyer enquiries and net sales," she added. |
| "While the relationship between these and house purchase approvals is far from perfect, it could suggest that we will see some slowing in approvals in the next few months." | "While the relationship between these and house purchase approvals is far from perfect, it could suggest that we will see some slowing in approvals in the next few months." |
| Bank of England data earlier this week showed that mortgage approvals - an indicator of future demand - have risen to their highest level since February 2004. | |
| However, future mortgage lending could be hit by next month's widely expected rise in interest rates. | |
| Analysts predict the Bank of England will increase rates from 4.75% to 5% in November. |