Halifax stated that ‘House prices rose by 0.6% in January. This was the seventh successive monthly increase and takes the average price to 9.9% above its trough in April 2009. January’s rise, nonetheless, was more modest than in any of the previous six months.
Increased demand has combined with a low supply of properties available for sale to push up prices. There are some signs that more people are putting their homes on the market. A further increase in the supply of property is possible over the coming months, which would help to curb upward pressure on prices. Overall our current view is that house prices will be flat in 2010.’
The Knight Frank Global House Price Index for Q3 2009 showed increasing prices in 68% of the countries reporting price changes for Q3 2009. House prices, however, are still lower than 12 months ago in 57% of the locations.
Israel remains the top performer over a 12-month period with prices increasing 13.7% to the end of Q3 2009. On a quarterly basis, Singapore saw the biggest rise with prices up 15.2% during the third quarter of the year and Dubai recorded the largest annual drop (-47%), but posted moderate positive growth in Q3.
See http://www.knightfrank.co.uk/news/Knight-Frank-Global-House-Price-Index-082.aspx for more detailed information
Martin Ellis, Halifax housing economist, commented
“House prices increased by 1.4% in November. This was the fifth successive monthly rise with prices more than 4% higher over the first eleven months of the year.
Somewhat higher demand has combined with a low level of properties available for sale to push up prices. Further ahead, the prospects for the market will depend on how the UK economy evolves and whether there is a significant increase in the supply of properties for sale. Overall, our view is that house prices will be flat during 2010.”
See www.lloydsbankinggroup.com for the full report
The number of new mortgages approved by the main banks for house purchase grew slightly in October.
(Source: http://news.bbc.co.uk/1/hi/business/8375865.stm)
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