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News

Weak demand sees house prices fall – Nationwide

Nationwide’s Chief Economist Martin Gahbauer said: “House prices fell in July for the first time since February. The price of a typical UK property fell by a seasonally-adjusted 0.5% month-on-month, after having been unchanged in June.

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Tough times ahead as property market dips on all fronts

Mortgage lending fell in June, the Bank of England reported yesterday. The number of loan approvals for house purchase stood at 47,643, 4% lower than May’s figure of 49,461 and below the previous six-month average of 50,036.

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Lending levels fall to four-month low

Lending fell sharply in June, with the British Bankers Association reporting that the number of mortgage approvals for house purchase fell to a four-month low of 34,813.

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Price falls likely to wipe out first half gains

With new seller numbers outstripping new mortgage approvals by approximately 5:2, the second half of the year looks set to see prices drift back to where they were at the beginning of the year as buyers get the upper hand according to Rightmove

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Tenant demand for private rentals continues to grow

Nearly three times as many landlords reported that tenant demand was rising rather than falling during the second quarter of the year.

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Supply of rental stock continues to tighten

The availability of rental properties is worsening, according to research out today from ARLA.

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House prices fall by 0.6% in June

Prices are 7.5% above their April 2009 trough despite the modest decline over the past few months.

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