View more on these topics

Nationwide predicts 8% rise in 2007

Nationwide has predicted that house prices will increase by up to 8% in 2007.

Although 2006 saw double-figure growth, Nationwide predict stable interest rates and supply constraints will underpin the market in 2007.

This news comes as the lender releases its latest house price index, revealing that house prices increased by 1.2% in December bringing annual rate to 10.5%.

Average prices rose from 172,185 in November to finish the year at 173,746.

Fionnuala Earley, group economist at Nationwide, says: “The temperate weather of 2006 is likely to have played only a minor role, but the housing market clearly warmed up during the year.

“House prices increased three and a half times faster than last year and returned to double digits for the first time since February 2005.

December’s increase of 1.2% brought the annual growth rate up to 10.5%, way above the widespread expectation this time last year that annual house price growth would be in low single digits.”


Fixed rate borrowers could face payment shock

More than 315,000 homeowners who took out fixed rate mortgages at the end of 2003 and the start of 2004 could be heading for a shock when their special deals run out, warns Analysis from the consumer comparison website shows these borrowers could be facing monthly increases of as much as £140.Average fixed-rate deals […]

PMS to revamp aggregation service

Premier Mortgage Service is revamping its aggregation services by adding mortgage compliance and protection panels to the service.The services will be underpinned by an IT platform with back office systems. In addition, integrated links to both Trigold and Mortgage Brain have been established in order that a one-stop-shop trading portal can be made available. The […]

BM Solutions expands key account key

BM Solutions has expanded its key account team with the appointment of two key account managers. The team, led by head of key accounts Iain Williamson, is responsible for looking after key accounts on a strategic basis, by building strong interlinked corporate relationships. Christine Newell and Adrian Whittaker have both been appointed as key account […]

Gove to head homeownership taskforce

The Conservative shadow housing minister Michael Gove is to lead a special taskforce to investigate how to help first-time buyers onto the property ladder through the extension of Community Land Trusts. Gove will assemble a team of lawyers, landowners, existing CLT pioneers, planners and local government leaders to explore what the current barriers are to […]


News and expert analysis straight to your inbox

Sign up