Property Rises Hit Highest In 4 Years
NOVEMBER 16TH, 2006
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Typical APR | Options |
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15.9% (variable) |
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14.9% (variable) |
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| Moneyback Bank Personal Loan | 5.7% | |
| Northern Rock Personal Loan | 5.8% | |
The Royal Institution of Chartered Surveyors conducted a survey which shows house prices rose at their quickest pace in more than four years during the three months to October.
This supported evidence of a resilient housing market despite vast predictions and the eventual outcome of rise in base rates by the Bank of England.
RICS spokesman Ian Perry commented: “Even after last week’s interest rate rise, surveyors are still confident that the housing market will remain buoyant.”
“The market is unlikely to feel cold winds from high finance costs until mid-year at the earliest as economic conditions are favourable.”
Analysts are still expect the market to slow next year after the reality of last week’s rise in interest rates and possible increases in the near future.
Rates hit 5 percent - highest level in five years as the Bank of England rose rates due to inflationary pressures.
All together this is bad news for any would be first time buyers due to rises in house costs and interest payments.
