House price growth ‘slows’

The rate of house price growth has slowed, according to reports from two independent market monitors.

A survey of consumers undertaken by Propertyfinder found that 78 per cent were anticipating house price growth in February.

This represents a six per cent drop from the 84 per cent of consumers questioned in December who were expecting to see price rises.

At the same time, a monthly price index released by Rightmove saw annual growth in February fall to 11.5 per cent, down from 13.5 per cent in January.

Commenting on the findings, Propertyfinder chief executive Warren Bright said: “Our research indicates that while the rate hikes in the second half of 2006 had a slight dampening effect on the market, the shock January rise has made a much bigger impact.”

Meanwhile, several analysts have suggested that, if widely-expected pay rises go ahead, the Bank of England will be forced to raise the interest rate again in an effort to curb inflation.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *