Nationwide records more house price falls
www.moneynews.co.uk > Mortgages > Nationwide records more house price falls
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Nationwide records more house price falls
Thu 28th Aug 2008
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The average house is now worth £164,654, according to the building societies findings, down from £169,316 in July.
Furthermore, a change in the behaviour of borrowers has been observed, with longer-term fixed-rate loans growing in popularity.
Discussing the current trend among mortgage buyers, Nationwide's chief economist Fionnuala Earley said that there has been a sizable increase (43 per cent) in the number of people willing to entertain the idea of taking out these types of mortgages.
"Borrowers choosing a new loan are tending to opt for fixed-rate loans, even though they have been more expensive than trackers," she added.
The report comes after iammoving.com representative Simon Preston suggested there is "anxiety" in the housing market, due to uncertainty over whether changes will be made to stamp duty.
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Related News : Nationwide |
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