House prices fall in February, says Nationwide
www.moneynews.co.uk > Housing market > House prices fall in February, says Nationwide
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House prices fall in February, says Nationwide
Fri 26th Feb 2010
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The statistics released by Nationwide indicate that prices dropped by a seasonally adjusted one per cent month-on-month in February.
Martin Gahbauer, the chief economist at Nationwide, indicated it was the first decline in nine months, bringing to an end a strong period of growth.
The average price of a property sold in February was £161,320 compared to £163,481 in January.
However, Mr Gahbauer did indicate that there were some special circumstances to take into account when assessing the market in February.
Mr Gahbauer said: "There is evidence from a range of indicators that the market may have lost momentum in early 2010, as the stamp duty holiday ended and house hunters were obstructed by the icy weather."
The Council of Mortgage Lenders (CML) released figures in January indicating that gross mortgage lending was down in the early part of 2010. The CML also highlighted the end of stamp duty relief as a factor.
Click here for more housing market news
Related News : Housing market |
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Related News : Nationwide |
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