{"id":167,"date":"2007-09-06T14:37:18","date_gmt":"2007-09-06T14:37:18","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/house-market\/house-prices-near-200000\/"},"modified":"2007-09-06T14:37:18","modified_gmt":"2007-09-06T14:37:18","slug":"house-prices-near-200000","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/09\/06\/house-prices-near-200000\/","title":{"rendered":"House Prices near \u00c2\u00a3200,000"},"content":{"rendered":"\n\n\n
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The average house price in the UK has almost reached \u00c2\u00a3200,000, according to the latest survey from the Halifax.<\/strong>The UK’s biggest mortgage lender said prices rose by another 0.4% in August, taking the average price to \u00c2\u00a3199,770.<\/p>\n

Its latest survey says the increase pushed the annual rate of house price inflation up from 11.2% to 11.4%, despite higher interest rates.<\/p>\n

However, the lender predicts prices will slow down this autumn, as the past year’s five rate rises take effect. <\/p>\n

“The increase in mortgage rates since last summer is having an effect on housing affordability and will bite further during the coming months,” said Martin Ellis, the Halifax chief economist.<\/p>\n

“Negative real earnings growth in the first six months of this year, and rising food prices, are also reducing the income households have available for housing.”<\/p>\n

Further slowdown?<\/strong><\/p>\n

The strong economy, growing employment and shortage of housing were among the factors pushing prices higher, said the lender.<\/p>\n

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But it pointed to evidence that the market would slow down soon.<\/p>\n

Lenders approved fewer mortgages during the summer months, interest from new buyers has fallen for eight months in a row, and actual property sales in July were 10% lower than a year ago.<\/p>\n

Meanwhile, the higher level of interest rates has been eating into most people’s take home incomes.<\/p>\n

“Prices rose by 1.6% between June and August, compared with 4.5% in the three months to March,” said Mr Ellis.<\/p>\n

“Whilst the market remains robust, this provides further evidence that house price inflation has slowed since the beginning of the year.”<\/p>\n

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The average house price in the UK has almost reached \u00c2\u00a3200,000, according to the latest survey from the Halifax.The UK’s<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[23],"tags":[],"class_list":["post-167","post","type-post","status-publish","format-standard","hentry","category-house-market"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=167"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/167\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}