House prices fall by 2.5 per cent
According to the Halifax House Price Index house prices fell by 2.5 per cent in March 2008, still 1.00 per cent lower than in Q4 2007. Although, overall prices in March were 1.1 per cent higher than March 2007.
Chief economist, Martin Ellis, said: “House prices fell by 2.5% in March. Prices in 2008 Quarter 1 were 1.0% lower than in 2007 Quarter 4. Overall, we expect there to be a modest fall in UK house prices this year. Any declines, however, should be viewed in the context of the significant price rises over recent years. The average UK price has risen by £120,860 during the past decade from £70,696 to £191,556; an increase of 171%. Sound economic fundamentals are supporting house prices. A strong labour market, low interest rates and a shortage of new houses underpin housing valuations. Our research shows that the labour market is the key driver of the housing market. Employment is at a record high and unemployment continues to fall.”
I think anyone 3 or more years into buying their home would have to be very unlucky, or have serious amounts of additional unsecured debts like loans or credit cards, to find themselves in a negative equity situation at the moment. If you have not managed to put a deposit down on your mortgage and so now have a 100 per cent mortgage you may end up owing more to your mortgage provider than your home is actually worth.
>Click here to compare credit cards
>Click here to compare mortgages
>Click here to compare car insurance
>Click here to compare home insurance
Free Student Loan GuideStep by Step Guide to Obtain Free Student Loans. MUST READ!
www.loan-application.cn
BAD CREDIT REFINANCING
Compare Up to 4 Free Offers - Fast! Choose the Best Rate. No Obligation
www.badcreditrefinancing.cn
Cheap Mortgage
Find the Lowest Rate! Free Quotes. One Form, Four Quotes. Easy & Fast.
www.wwwmortgage-s.info