House prices are growing at their slowest rate for five years, Nationwide claims.

The Nationwide House Price Index for June put annual growth at 2%, down from 2.4% in May and the slowest rate of growth since 2013 when figures of 1.3% were reported.

Average prices are up 0.5% on a monthly basis, putting average values for this month at £215,444.

“The East Midlands was the strongest performing region in England, and also the UK, with prices up 4.4% year-on-year. Scotland was the only region to see a notable pickup in annual price growth this quarter – to 3.1%. Wales saw a
softening in price growth to 4%, though it was the best performing home nation.

London was found to be the weakest performing region, with prices down 1.9% year-on-year to £468,845.

Chief economist for Nationwide, Robert Gardner  said: “Annual house price growth has been confined to a fairly narrow range of 2-3% over the past 12 months, suggesting little change in the balance between demand and supply in the market over that period.

“There are few signs of an imminent change. Surveyors continue to report subdued levels of new buyer enquiries, while the supply of properties on the market remains more of a trickle than a torrent.

“Looking further ahead, much will depend on how broader economic conditions evolve, especially in the labour market, but also with respect to interest rates.

“Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year, though borrowing costs are likely to remain low.

“Overall, we continue to expect house prices to rise by around 1% over the course of 2018.”

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NEARLY half of “empty nesters” whose adult children have left home are not considering moving to a smaller property themselves, a survey by Lloyds Bank has found. Some 45 per cent of parents whose children have moved out of the family home are staying put with no intention of downsizing,

More than 1,000 parents whose children have left the family home were surveyed. It was revealed that on average ’empty nesters’ typically have two spare bedrooms as a result of their children moving out.

Some parents have left their grown-up children’s bedrooms untouched -but many are now being used as home offices, guest rooms or hobby rooms, while others now rent them out through websites such as Airbnb.

Looking at why people are staying put, reasons included having built strong links with their community, do not need the money that moving to a smaller property could free up, or simply do not want the hassle of moving, the research found.

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House prices reached a record average high of £213,000 this month, according to new figures from Nationwide Building Society.

Property values in Britain climbed 0.2 per cent month-on-month during April, reversing a 0.2 per cent decline in March, its latest house price index has revealed.

The annual pace of house price growth also accelerated to 2.6 per cent, from 2.1 per cent when they slumped to a seven-month low in March.

Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “There was a slight pickup in UK annual house growth in April to 2.6%, from 2.1% in March. House prices rose by 0.2% over the month, after taking account of seasonal factors.
“February saw a softening in house purchase approvals to 64,000 cases, following a surprise rise in January. These figures are broadly in line with our expectations and close to the average for the last three months of 2017. Surveyors continue to report subdued levels of new buyer enquiries and recent months have also seen a softening in new
instructions.

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The Silver Economy ( older home owners 55+) are currently a very active group in the UK property market and are showing good levels of growth year on year, with 46% more property exchanges in the first quarter of 2018 compared to the same period of 2017.

According to the national home mover report from customer insights company TwentyCi, the active growth in the property market for the 55+ age groups is undoubtedly fuelled by a combination of pension drawdown and equity retrieval as the baby boom generation accesses the wealth accumulated in their properties and pensions.

Colin Bradshaw, Chief Customer Officer at TwentyCi said “We are also seeing a big uplift in buyers aged 66+ moving to semi-detached properties. This could infer either an increase in downsizing to release equity – which we would expect to trickle down into the economy – or alternatively older couples splitting up. While the latter is good for the property market, it would be less of a boon for the economy in general.”

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House prices suffer first quarterly fall for nearly five years – but a shortage of homes and low mortgage rates will prevent a bigger dip, says Halifax

• Typical house price is now £219,649 according to Halifax
• Property values fell in last three months – first fall since 2012
• But low mortgage rates and lack of supply will keep prices ticking higher 

House prices fell 0.2 per cent between February and April marking the first quarterly fall since November 2012, the latest Halifax property index shows.

ARK PROPERTY CENTRE ARE PLEASED TO BE MARKETING THESE BRAND NEW  LUXURY HOLIDAY HOMES AT TATTERSHALL LAKES COUNTRY PARK RESORT

This static caravan takes glamping to a whole other level.

Now holidaymakers can enjoy the Manhattan apartment experience in a field at Tattershall Lakes Country Park, Lincolnshire.

Park operator Away Resorts has introduced the TriBeCa caravan, equipped with en-suite bathrooms, a stand alone bath, flat-screen TVs and a hot tub!

Step inside the panoramic screen doors and visitors will find an open plan living room and kitchen reminiscent of a trendy inner city loft. The idea for the TriBeCa, named after a district in Manhattan, came from Away Resorts boss Carl Castledine who believes caravanning will become much more popular after Brexit. He said: ‘The caravan industry contributes more than £6bn a year to the UK economy, so it’s got no shortage of fans. But, it’s never really been cool, until now.

Reinventing the caravan:

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