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Website signals price rise
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After a quiet spring and early summer, stable prices and cheap mortgage deals brought a house buying boom during July, according to a new survey.
The study, by property website rightmove.co.uk, supports the stance taken last week by Britain's largest estate agency chain, Countrywide, that house buying was back in fashion.
The monthly survey shows that vendors are selling their properties more quickly after a five-month period from March when the length of time homes spent on estate agents' books rose from 57 days to 70.
Annual house price inflation fell for the eighth consecutive month, and now stands at 12.4%, compared with 15.6% three months ago and 26.5% at the beginning of 2003, according to the website. After some declines recorded during the past two months, all regions to the north of the Trent saw significant rises, with the north 4.5% higher, the north-west up 2.2%, and Yorkshire and Humberside 1.8% higher. Greater London fell again and in the south-east, prices remained unchanged.
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