A Small Fall in prices August 2011
The Nationwide has said that prices dropped by 0.6pc in August. this was compared to a July rise of 0.3pc. prices stayed 0.4pc lower than a year ago.
Nationwides Chief Economist Robert Gardner said; "Sluggish demand for homes, combined with only a gradual rise in the supply of available properties, has helped to keep property prices stable since last summer."
"Against this backdrop we continue to expect house prices to move sideways, or drift modestly lower over the remainder of 2011, although we recognise that the downside risks have increased," he added.
The Bank of England said that in July British lenders approved the highest number of mortgages since May 2010. Although still way below levels of 2008, this was a positive sign.
Tags: landlords advice house prices 2011 uk
Added By: gbressington on 01st Sep 2011 at 09:44
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