Survey shows house prices rising by 2.2 per cent in last quarter

Posted: 04 Apr 2007 11:46:53 GMT

The latest Nationwide House Price Report has shown a 2.2 per cent rise in house prices in the last quarter.

The latest Nationwide House Price Report has shown a 2.2 per cent rise in house prices in the last quarter.

Overall, the annual percentage increase stands at 9.5 per cent, indicating that overall the market remains robust despite some cooling, with the previous quarter seeing a 3.3 per cent rise.

Underlying trends do, however, indicate continued regional variations, as Nationwide chief economist Fionnuala Earley pointed out.

She said: "Prices increased in every part of the UK in the last 12 months, but the rate at which they rose was quite different across the country."

"Northern Ireland and London stand out as the leaders with the fastest annual rates of house price growth in the UK.

She added that the northern, north-west and Wales regions saw the biggest slowdowns.

Northern Ireland saw 57.6 per cent growth over the past year, the highest rate ever recorded by Nationwide as the province enjoys the twin benefits of the peace dividend and economic growth in the Irish Republic, with many people buying second homes in Ulster.


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