Only Finance.com® - Hometrack House prices weakening

Mortgages - Hometrack: House prices weakening - 28/01/2008

House price growth is slowing rapidly, new market research suggests.
According to the Hometrack study, prices rose by 2.3 per cent over the previous year's figure in January.

This represents the weakest growth rate since mid-2006 - and is well down on December's three per cent figure.

The ongoing credit crunch has been blamed on the slowing housing market - with buyers unsure of the market conditions and therefore less likely to take out a mortgage.

Director of research at Hometrack Richard Donnell commented: "Weak confidence among would-be purchasers continues to put downward pressure on house prices although the scale of the recent falls is relatively small when put in the context of gains over the last few years."

He added: "The short term outlook for market activity hinges as much around the outlook for UK interest rates as it does the outlook for financial markets."

The Bank of England is widely expected to administer an interest rate cut next month, therefore giving the mortgage sector a boost.

Related News

03/03/2008 - Fifth month decline in house prices. House prices in the UK have fallen for the fifth consecutive month according to...

28/11/2008 - The rate of falls in house prices slow down. Despite the continuous drop in house prices during November, the rate of fall is...

26/11/2008 - Mortgage approvals fall by 18% in Scotland. Latest mortgage figures have suggested that approvals for home purchase loans in Scotland for...

Related Guides

Tips to buying leasehold property. When you begin to search for a new property you may come across the...

Mortgages guide. There is no doubt that mortgages can be confusing. With so many products available,...

First time home buyer. A mortgage is a long term secured loan taken out to buy a residential...

06/03/2008 - The benefits of remortgaging. Remortgaging can allow you to transfer your current mortgage from one lender to a...

21/11/2008 - Have you lost confidence in mortgages?. Most Brits are losing confidence in mortgages as the increases and decreases in costs...

29/10/2008 - Mortgage lending increases. Consumer lending data released by the Bank of England has revealed that during the...

Mortgage Advice
	Call our mortgage advisers 0800 180 4638

Mortgage Guides

Mortgage repayments advice
Tips to buying leasehold property
A guide to mortgage rescue
Mortgages guide
Mortgage terminology

Best Buy Mortgages

Fixed Mortgages	Click Here
Adverse Mortgages	Click Here
Discounted Mortgages	Click Here
Remortgages	Click Here
Self-certification	Click Here
Buy to Let Mortgages	Click Here
100% Mortgages	Click Here
Variable Mortgages	Click Here
Capped Mortgages	Click Here

Mortgage News

28/11/2008 - The rate of falls in house prices slow down. Despite the continuous drop in house prices during November,...

27/11/2008 - HSBC and Northern Rock raise interest payments. There was bad news for consumers today, with the...

26/11/2008 - Mortgage approvals fall by 18% in Scotland. Latest mortgage figures have suggested that approvals for home...

More News >>

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPATMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Only Finance Ltd is authorised and regulated by the Financial Services Authority, FSA registration number: 466941. Our registered offices are 1 Kings Avenue, Winchmore Hill, London N21 3NA, company number: 05640662. Telephone 0207 377 1805.