UK July Annual House Prices Rise Most in a Year
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UK house prices in July grew at their fastest pace in a year as higher interest rates failed to damp demand for property, a government survey showed.
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House price growth remains strong despite concerns about interest rate rises, Land Registry figures indicate.
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Business & money: Nationwide building society says the annual rate of house price inflation has risen to 9.7%, despite higher interest rates.
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The average price of a home in Northern Ireland has continued to rise by 25%, a report finds.
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The average price of a home in the UK surged in January, according to official figures.
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Home prices in Britain fell the most in three years in December, and the threat of more declines may cause the property market to seize up in 2008, said Hometrack Ltd., a London-based research group. The average cost of a home in England and Wales slipped for a third month, dropping 0.3 percent to Â£175,200 ($348,350). âThe second half of the year has seen a major reversal in confidence,â Richard Donnell, director for research at Hometrack, said in a statement. âJust as the financial markets have faced a liquidity squeeze, so the housing market is in danger of facing its own liquidity squeeze.â Prices increased 3 percent from a year earlier, the least in 18 months, Hometrack said.
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House prices rose 1% in November after a small fall in October, according to the latest survey from the Nationwide building society.
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Average house prices rose 3.2 percent  in the second quarter from a year ago, representing the slowest  appreciation in a decade, the Office of Federal Housing  Enterprise Oversight said on Thursday.
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Construction spending sprang back to life in July, rising to the highest level on record, the government reported Wednesday.
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House price growth remains strong despite concerns about interest rate rises, Land Registry figures show.
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Terrace houses have been the fastest rising property type in the UK in the past decade, Halifax Estate Agents says.
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Average UK house prices could rise to the equivalent of ten times average salaries by 2026, a think-tank says.
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Housing starts rebounded sharply in  July, making up almost all the ground lost in a June slump by  posting their largest monthly percentage gain since September  2002, a report from the Commerce Department on Tuesday showed.
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Business & money: House prices in England and Wales increased by 9.1% in the year to April, one of the highest annual rises in two years.
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Sterling rose to its highest level since July against the dollar.
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House price inflation accelerated in July to 14.3 percent year-on-year, from 13.9 percent in June, official data shows, showing the property market still had plenty of momentum this summer.
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The number of mortgages approved rose to 120,000 in July, the highest since the start of 2006.