House prices dropped 1.1% in September
Property prices continued to fall in September, according to the FT House Price Index.
House prices fell by 1.1 per cent last month, with values down across all ten regions in England and Wales, new figures show.According to the FT House Price Index, the annual rate of decline now stands at 4.3 per cent, with the average house price coming in at £219,307.
The data is measured using final sales prices instead of mortgage offers and therefore tends to be more conservative than figures released by mortgage lenders.
However, despite falling prices, tightened credit conditions are restricting the ability of many consumers to make property investments, said Dr Peter Williams, chairman of Acadametrics, which compiles the FT House Price index.
"Mortgage supply continues to be a very serious problem affecting the ability of many people to buy and sell their properties," he remarked.
Brokers and estate agents have warned that the recent 0.5 per cent cut in interest rates by the Bank of England will not necessarily translate into cheaper mortgage deals, the Times reports.
© Copyright
Related Articles
- Should investment managers be worried about the Dubai debt problem? - 30th November, 2009
Investment managers were sent into panic on Friday as Dubai announced that it would not be able to repay some of its $60 billion (£35.6 billion) of its debt on time, affecting markets across Europe.
However, asset management firm F&C Investments has said that traders may have overreacted to the news, despite the FTSE plummeting by three per cent and some markets, such as Greece, dropping eight per cent as a direct result... - Students turned into investment managers - 21st September, 2009
A new scheme launched by ifs Student Investor is to see groups of school children compete against each other in trying to make the most money by placing it into the stock market.
The finance education charity hopes to turn up to 40,000 youngsters taking part in the 2009/10 competition into investment managers by encouraging them to put an imaginary £100,000 into companies on the FTSE 100 over a four-month period... - Ethical investments growth beats FTSE 100 returns - 28th August, 2009
Those putting their money into industries with a social conscience have been receiving a better growth of return from their ethical investments than FTSE 100-based funds over the last 12 months, new research suggests.
Conducted by Moneyfacts, the report showed that while investments in the FTSE 100 saw a 24.47 per cent dip in returns in the last year, ethical funds only saw a 16.74 per cent fall... - Ethical investments on the way from government? - 16th July, 2009
The government is getting set to launch the first dedicated ethical investment bank in the UK in a consultation which will decide how it will work.
Announced in Alistair Darling's Budget report in April, the Social Investment Wholesale Bank will allow consumers to put their money into more ethical investments such as the environment and society... - Investment managers optimistic about 2010 - 17th December, 2009
The next 12 months will bring increased returns for those with money in equities and other assets, according to a new poll gathering the opinions of investment managers.
Carried out by the Association of Investment Companies (AIC), the survey revealed a feeling of optimism for the UK stock market, with 58 per cent of respondents claiming that the FTSE will end 2010 at between 5,500 and 6,000... - Capital investments to be made through antiques, says RICS - 9th July, 2009
The Royal Institute of Chartered Surveyors (RICS) has said that despite recent price falls, capital investments in art and antiques are still a safe place to put money.
The group said in its Arts and Antiques Survey 2009 that those with capital investments in such items as paintings and ornaments could still be making money, even though other sectors are beginning to recover... - Investment managers choose BP after profits announcement - 28th October, 2009
Oil giant BP has revealed third quarter earnings of over £3 billion, causing investment managers with shares in the company to win good returns for their clients as prices rise.
The European markets were given a boost by yesterday's (October 27th) report, which were even higher than expectations from the City, and investment managers are now hoping that the news will bring about a recovery of the energy sector... - Investment managers to benefit from German election results? - 30th September, 2009
Political events in Europe could mean that investment managers see better returns on any money they put into the markets on the continent, according to one firm.
Investment management company Threadneedle believes that the ground lost by the left-leaning Socialist Democratic Party of Germany in the country's general election will allow chancellor Angela Merkel (pictured) to push her centre-right views with little opposition... - New capital investments from NS&I - 13th July, 2009
National Savings and Investments (NS&I) has announced two new issues of its capital-guaranteed fixed-rate bonds.
The Guaranteed Growth Bond and Guaranteed Income Bond provide an interest rate of 3.75 per cent and 3.65 per cent respectively and capital investments from £500 to £1 million are backed by HM Treasury... - Expert recommends high yield investment bonds - 10th July, 2009
High yield investment bonds have outperformed stock market equities so far this year, and global assessment manager F&C Investments has chosen them as a good way to make a return on money.
Fatima Luis, manager of the firm's Extra Income Bond, said that in the first six months of 2009 the Merrill Lynch Global High Yield Index returned 29.5 per cent, while the MSCI World Index returned 6.8 per cent in the same period...