House Price Growth Slows
House price growth in the UK has slowed in the past couple of months. Evidence suggests that recent interest rates are beginning to effect consumer spending.
Related to the fall in house Prices. The number of mortgages approved fell for the third month in a row. Mortgage approvals totalled 107,000 in April, down from 111,000 in March and the third monthly decline in a row.
Reports suggest, however, that further interest rates are still likely. This is because retail inflation is picking up. The CBI added that the sustained growth in sales volumes had encouraged a rising balance of retailers to put up prices compared with a year ago. The balance of +33 was the highest since May 1998.
Rate rise likely
Related to the fall in house Prices. The number of mortgages approved fell for the third month in a row. Mortgage approvals totalled 107,000 in April, down from 111,000 in March and the third monthly decline in a row.
Reports suggest, however, that further interest rates are still likely. This is because retail inflation is picking up. The CBI added that the sustained growth in sales volumes had encouraged a rising balance of retailers to put up prices compared with a year ago. The balance of +33 was the highest since May 1998.
Rate rise likely
Labels: UK house prices
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