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House prices up 0.5% in May

House prices increased by 0.5% in May, according to the latest Halifax House Price Index.

House prices in the three months to May were also 0.8% higher than in the preceding three months.

This was the second successive increase in this measure following six consecutive falls between October 2011 and March 2012 and the biggest three monthly increase since August 2011.

Prices in the three months to May were 0.1% lower than in the same period a year earlier. This continued the improving trend in the annual rate and was the smallest yearly decline in house prices for 17 months.

Martin Ellis, housing economist at Halifax, says: “Whilst there has been a modest improvement in the trend for house prices recently, the current average UK price is very similar to the levels both a year ago and at the beginning of this year. We expect this situation to continue with prices likely to still be around today’s levels at the end of 2012 as the ongoing tough economic environment constrains housing demand.

“Recent monthly house sales figures have clearly been affected by the ending of the Stamp Duty holiday for first-time buyers in late March. Overall, the trend for sales – like that for prices – appears to be one of broad stability.”


Pension funds urged to help capital build homes

Visiting the offices of the Coreco Group to discuss apprenticeships Johnson promised to host a round table on encouraging institutional investors into property. He also outlined plans to release more than 500 hectares of public land for development in a plan to get London building homes. Johnson says: “We have to build more homes in […]

House prices hold up with 0.3% rise in May despite 0.7% year-on-year fall

House prices rose by 0.3% in May, but are still 0.7% lower than one year ago, the latest house price index from Nationwide shows. A typical home is now valued at £166,022. Robert Gardner, chief economist at Nationwide, says the fact that house prices had a modest increase in May demonstrates that they are holding […]


Shadow MPC – June 2012

Cutting the base rate is not an option as while it would ease pressure on borrowers it would pile it on for the banks. With a brighter outlook for inflation further quantitative easing is not necessary yet, but that could change if Eurogeddon comes

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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