The UK housing market continues to stumble along – new figures out have shown that both mortgage approvals and house prices have fallen. The Bank of England has commented that the number of mortgages approved for houe prices showed sudden dip in December.
The Nationwide Building Society said house prices had slipped by 0.1 percent in January; this leaves them down 1.1 percent on a year earlier. It meant the average UK home cost just over £161,600.
With the prospect of interest rises in the coming year, house prices are not likley to be going up anytime soon.
House building firms have shown some promising results in the last year and hopefully that will continue. Precast concrete firms have also felt the pinch from the dip in the housing market, the hope is that things will continue to steadily improve.
Posted on 01/02/2011
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