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Purple Reign


House price rises sped up in July, says Nationwide.

The pace of increase in UK house prices accelerated in July, rising by 3.5% compared with a year earlier, according to the Nationwide.

The building society said that the annual change picked up from 3.3% a month earlier.
Property values rose by 0.4% in July compared with June, taking the cost of the average home to £195,621.

Demand for housing remained "encouraging", the report said, but supply strength was "unclear".
Nationwide's chief economist Robert Gardner said: "The number of new homes under construction has started to pick up, albeit from historically low levels, and further increases are required if a sustainable recovery in the housing market is to be maintained over the longer term."

Mr Gardner said that the house price growth might be "stabilising close to the pace of earnings growth" which had historically been around 4% a year.

Estate agents and analysts point out that the market could be affected by a potential change in interest rates at the turn of the year.

"Buyers often do not realise the impact of a rate rise until the first one actually happens."

At JP & Brimelow Chorlton Ltd myself and my team are here to help you with your buying and selling needs. Please don’t hesitate to contact me or my Sales department on 0161 882 2233 for a FREE MARKET APPRAISAL of your home or for any assistance.

'Step by step and the thing is done.'

Kind regards

Eddie Ellis MNAEA
Director
JP & BRIMELOW Chorlton



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