View more on these topics

Nationwide raises its annual inflation estimate

Average house prices rose by 1.4% in March, Nationwide&#39s quarterly house price report reveals. This has led the lender to up its estimate for annual house price inflation to 15% from 9%.

The report shows that the average house price now stands at £142,584, 16.7% higher than a year ago. It also reveals that the strength of house price growth over the first quarter has been widespread with most regions experiencing a pick-up in growth compared with the fourth quarter of last year.

London, which was worst affected by the fall in confidence at the time of the war on Iraq, saw prices rise by less than 1% over the second and third quarters of last year.

But with the economy growing strongly and private sector bonuses rising the pick-up in the market, which began in the last quarter of 2003, continued into the first quarter of 2004.

Price rises in London, though a little stronger, are constrained by tight affordability and the capital remains at the foot of the growth league table with prices rising 6.3% year-on-year.


Miles says UK is long way from risk-based pricing

Professor David Miles says lenders in the UK mortgage market are a long way from adopting risk-based pricing. Speaking at a round table event last week organised by Zurich Mortgage Network, Miles expressed doubt that such strategies were even on their way because of the way the market is currently structured. Miles tells Mortgage Strategy: […]

e.surv updates Promise Finance&#39s valuation service

Chartered surveyors e.surv has recently provided Promise Finance with an electronic instruction and valuation report generation system. e.surv is one of the leading survey panel managers in the UK with access to over 3,000 valuers, in addition to the 250 inhouse e.surv valuers. The company says that because it continues to lead the field in […]

Orchard & Shipman enters property auction market

Slough-based sales and letting agents Orchard & Shipman have entered the property auction market with the aim of creating a market in tenanted properties. At the company&#39s first auction last week nearly half of the properties sold housed local authority tenants. In only a year, the number of property auctions around the country has risen […]

Enterprise expands development team

Enterprise Homeloans has significantly increased its development team with the recruitment of a regional manager for Scotland and Northern Ireland, two new business development managers and the appointment of a new southern regional manager. Michael Clapper, CEO of Enterprise, says: “In line with Enterprise&#39s planned growth, it is pleased to announce the appointment of four […]


News and expert analysis straight to your inbox

Sign up