Nationwide: House price growth continues to slow
www.moneynews.co.uk > Housing market > Nationwide: House price growth continues to slow
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Money News |
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Nationwide: House price growth continues to slow
Fri 29th Feb 2008
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The average house price dipped by 0.5 per cent during February and now stands at £179,385.
Approvals for house purchase have fallen sharply since the autumn, while the increased interest that estate agents saw from new home buyers at the end of 2007 decreased again at the beginning of this year.
Reluctance on the part of buyers "is not surprising given current uncertainties in the market," according to Fionnuala Earley, Nationwide's chief economist.
Rising energy and food prices are putting pressure on household budgets and are threatening the Bank of England's two per cent inflation target.
Meanwhile, economists are widely predicting that the UK's economic growth will slow this year, with some suggesting that the country could be facing a recession.
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Related News : Nationwide |
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