UK Property Market

99.6% Drop in Asking Prices Growth in May

Research shows that the record £8,307 rise in asking prices in April was followed by a slight rise of only £871 this month. Consequently, on average, the asking price in England And Wales Stands at £237,361. Because of this development, monthly property price inflation has also witnessed a drop, from April’s 15 percent to 13.1 percent this month.

Real estate specialists state that this decrease is caused by the introduction of home information packs (Hips) on June 1^st 2007, which rises concern and uncertainty on the property market. According to real estate agents, there could be an artificial rise in the number of properties placed on the market over the next few weeks. However, there is a strong likelihood that buyers will be put off by the increase in interest rates.

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• Home Prices Up in April
• Interest Rates Go Up By 0.25 Percent
• Annual Home Price Inflation Down in April
• New Property Prices Fall by 3.4%
• Home prices went up by 1.1% in June

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