Fionnuala Earley
Fionnuala Earley
accelerate annual cause cut early economy expect house inflation interest levels likely market move next present price quite rates seen swiftly
While there is uncertainty about the economy at present we still expect the next move in interest rates will be down and that this is likely early in 2006. But while the market responded quite swiftly to the rate cut in August, we do not expect a cut to cause annual house price inflation to accelerate back up to levels seen in early 2005.
adjust debt demand expect increase levels overall thus widespread
Affordability and overall debt levels will still have to adjust to more comfortable levels before we can expect any widespread increase in demand and thus prices,
agents buyer estate few help increased interest last market reported support
Estate agents have consistently reported increased buyer interest over the last few months, which should help to support the market going forward,
agents agreement buyer buyers estate increasing interest price reaching reporting
Estate agents are reporting increasing buyer interest and that buyers and sellers are reaching agreement on price more readily,
attracts continuing correction house inflation likely lower predicted prices rapid rather seeing smooth thus
Rather than seeing a rapid and significant correction in house prices as predicted by some, we are more likely to see a continuing smooth slowdown as lower price inflation attracts more demand, and thus liquidity, into the market.
economy expectation firmly growth house low price remain single
Our expectation is that house price growth will remain firmly in low single digits in 2006 as the economy recovers.
clearly hit pockets state
This will clearly hit consumers' pockets - and their state of mind.
accelerate continue early far market point prices reached turning
We think that it is far too early to say that the market has reached a turning point and that prices will continue to accelerate from here.
bit expecting level months people stretching
It's come through a little bit more than we were expecting even two months ago. I don't think it can be sustainable at that level going forward. People are stretching themselves.
april conditions cooling demand given healthy picture prices quite reasonably remained remains underlying unexpected
The cooling in prices in April was not unexpected given the surge in March. However, the underlying picture remains reasonably healthy as demand conditions have remained quite firm.
environment expects fairly market next remain stable supportive
There is a supportive environment for prices. Nationwide expects the market to remain fairly stable in the next year.
august base buyers cut driven october overall picture prices purchases rate rather rebound remains stability strong until
As we expected, the strong rebound in prices in October was temporary, driven by buyers postponing purchases until after the August base rate cut and the overall picture remains one of stability rather than acceleration,
data falls growing market months overall pattern prices rises settled small
November's data suggests that the market has settled back down to the pattern of small rises in some months and small falls in others, with prices overall growing only very slowly.
continued few further market mortgage next pickup strengthen
The continued pickup in mortgage approvals suggests that the market will strengthen further over the next few months.