Housing Market Starts To Soften
JULY 28TH, 2005
| Credit Cards (introductory rate & period) |
Typical APR | Options |
| Virgin Credit Card 0% balance transfers, 13 months ( 2.9% balance transfer fee ) 0% purchases, 3 months |
15.9% (variable) |
 |
| Post Office Credit Card 0% balance transfers, 8 months ( 2.5% balance transfer fee ) 0% purchases, 3 months |
14.9% (variable) |
|
| Personal Loans | Typical APR | Options |
| Moneyback Bank Personal Loan | 5.7% | |
| Northern Rock Personal Loan | 5.8% | |
The average house in the UK is now costing £158,348 as prices have rose by 0.2% in July. However the market is still a “softening market”, according to the Nationwide’s current survey.
Inflation fell to 2.6% which is the lowest rate since May 1996.
According to the Nationwide society, there were signs that the housing market was recovering but still aired on the side of caution due to transactions being well below the amount of that last year.
Estate agents have been reporting of sellers negotiating on prices with sellers as more buyers had more confidence in the market.
Nationwide have also reported that the annual rate of house price growth had fallen below wage growth since May of 1996.
An expected cut in interest rates next week will seem some more encouragement for the market.
