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House Pricing Continues to Increase
The annual rate of house prices in the UK this year has risen to 11.1% up from 10.3% in May. Fears grew of a slowdown in May as the growth slowed and rumors that the government initiative of introducing HIP’s (Home Information Packs) would stall the market. The Communities Secretary, Ruth Kelly announced a delay of the introduction of HIP until 1st of August and they will only apply to 4 bedroom properties.
Many experts are now expecting a rise in house prices to be slow in June and July before the introduction of HIPS
Mortgage lender Nationwide now said the average house price in the UK was £184,070.
30 June 07
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