 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS House prices slip downwards  The residential property conveyancing market has seen house prices slip downwards again. Prices in the three months to the end of May were 1.2 per cent lower than the previous three-month period, according to the Halifax. The lender reports that on an annual basis, the average cost of buying a home is 4.2 per cent lower at £160,519. Housing economist at the Halifax Martin Ellis said: "Low earnings growth, higher taxes and relatively high inflation are all putting pressure on household finances." He also stressed that confidence remains weak because of uncertainty about the economic and employment outlook. "These factors are probably constraining housing demand and applying some downward pressure on prices," he added. Overall, the Halifax predicts that there will be "moderate" improvement in the economy during the remainder of 2011, which should help boost demand as interest rates remain low. The Bank of England's Monetary Policy Committee will decide on Thursday (June 9th) whether to change interest rates, which currently stand at 0.5 per cent. Posted by Georgina Price 
Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net £450m a year in savings More Individual Legal Services News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |