| |
Major Site Upgrade in Progress |
 |
|
 |
|
Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
|
|
|
 |
|
 |
|
 Posted: Sun Mar 18, 2007 4:56 am Post subject: RICS UK House Price Growth Weakens as Interest Rate Rises St |
 |
|
|
 |
|
 |
|
|
|
|
The series of rises in UK interest rates over the past 9 months from 4.5% to 5.25% has started to have an impact on the UK housing market, according to a survey by Royal Institution of Chartered Surveyors' (RICS).The gain for February is the slowest in over 9 months,
However, earlier in the month, the Halifax reported that house prices jumped by 1.8% in February, keeping the pace of growth at an annual 9.9%.
The fallout in the US Housing market has thus far failed to have any impact on the UK housing market, which continues to experience supply constraints due to shortages of properties on the market and continuing demand from the buy-to-let sector, especially in light of continuing influx of eastern european migrant workers, which means that demand still tends to exceed supply.
The UK has its own 'subprime' problem with many low income first time buyers being forced to take out mortgages well beyond traditional measurements of affordability of 3.5X to 4X joint earnings. So far the number of defaults is nowhere near that reached in the US and the sector is unlikely to experience a 'crash' during the remainder of 2007.
However, regional variations are expected with signs that the housing market in the Midlands is stagnating whilst London and the South East continues to perform strongly.
The Market Oracle forecast remains for UK house prices to end 2007 up between 5% to 7%. UK House Prices continue to Rise whilst the US Housing Market Slumps . With no real sign's of the start of any market meltdown as experienced by the US.
It would take interest rate rises beyond 5.75% to have a serious impact on the UK housing market during the remainder of 2007.
By Sarah Jones
MarketOracle.co.uk
Copyright © 2007 The Market Oracle- All Rights Reserved |
|
|
|
|
|
|
 |
Online Finance Tools & Calculators |
 |
| Credit Score Calculator |
Easy to use online Credit Scoring tool - Calculate your credit score now online for FREE ! using the Moneyforums.co.uk credit scoring tool. Also TEN Tips on improving and mainting a good credit rating ! |
|
| Quick Health Calculator |
Easy to use quick health calculator to help you get started on the path to fitness. Calculates your body mass index (BMI). |
|
| "When will I die ?" Calculator |
Calculate when will you die based on your current life style and then more importantly what you can do about extending your lifespan ! |
|
| Mortgage Calculator |
Easy to use online Mortgage calculator tool - Calculate how long it will take to pay off your mortgage and what your monthly repayments will be as well as interest charged per month per each year. |
|
| Savings Calculator |
Use the flexible savings calculator to estimate the amount of interest you would earn given a level of monthly savings, with many optional settings. |
|
| UK Tax Calculator |
Check your tax and NI liability using this easy to use online tool. Outputs, Tax, Ni, Net pay and gross pay on an annual, monthly and weekly basis, also estimates your tax burden and the number of days a year you work for the tax man ! Plus lots of tax saving tips. |
|
|
 |
|
 |
|
Money
Forums Guides |
|
| Credit
Card Stoozing |
The
following guide explains the basics of credit
card stoozing in a step by step basis. |
|
| Discount
Vouchers |
Online
discount vouchers giving upto
50% off in stores such as Dixons,
Tesco, Avon, Currys, Boden and more. Many
of the vouchers are time limited - So check
back regularly |
|
| Money
Saving Guide |
Guide
to saving money on household bills & personal
finances - Start saving thousands of £'s
every year TODAY ! |
|
| Savings
Tree |
A
guide to Savings Accounts, from Cash ISA's to
Regular Savers to Premium Bonds, all explained
in an easy to understand manner. |
|
|
Users
Groups | Profile
| Messages
| FAQ | Sponsers
& Links | Member
list | Recommend this site | Top Money Saving Sitee
© 2004 - 2007 Moneyforums.co.uk / Market Oracle Ltd - Asserts copyright on all topics & posts made on this site. Moneyforums are open forums, and thus posts are NOT endorsed by Moneyforums.co.uk / Market Oracle Ltd . Any and all information provided within the Website is for general information purposes only and nor is or shall be deemed to constitute, financial or other advice. We recommend that independent professional advice is obtained before you purchase any product and/or service. All tools and guides are provided as is for general information purposes only.
|
|
|
