The Financial Blog

House prices, which were widely believed to at least be levelling off, are on the up again according to the latest data from Nationwide. 

September saw a price rise of 0.7 % to an enormous average of £184,723.

This does however bring the annual growth rate to 9% - the lowest for a year and the quarterly rate of price growth (allegedly the best measure of growth or lack thereof) slowed 0.4% to 1.6%, which is the lowest since July 2006.

So more bad news for first time buyers who have to be considering selling their kidneys on the black market for a starter home. On top of this Northern Rock have previously been leaders in offering huge mortgages to people trying to get a foot on the housing ladder and they really aren’t a viable option at the moment, not least because of the fact that I doubt you could get in for an appointment with a mortgage advisor past the queues of frightened savings accounts customers.

Maybe Abbey can step up, beaing in mind their recent odd negative equity mortgage?

This entry was posted on Thursday, September 27th, 2007 at 10:58 am and is filed under Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.