Property Prices are Slowing
Written by JDPGlobal | Sunday, 17 July 2005
House prices in the United Kingdom are showing signs of slowing. New figures from the Office of the Deputy Prime Minister (ODPM) issued the warning. Property experts belive that although house prices in May were seven percent greater than for the same period in 2004, the growth in the market is decreasing, which suggests increased stability towards the end of the year and into 2006.
While house prices stood at an average of £180,000 a rise attributed largely to increases in the prices of detached housing, prices for apartments stayed flat while average prices for bungalow and semi-detached prices fell 0.7 percent and 0.1 percent respectively. Regional disparities continue however, with the capital recording a fall in annual growth of 1.5 percent compared to prices in the north-east where prices are over 11 percent higher than in 2004.
The confident investors ought to be using this opportunity to expand their portfolios in the stable market. Their belief is probably that they will not be obliged to sell off properties even if house prices dip further.
