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| Version 2 | Version 3 |
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| June house prices show small rise | June house prices show small rise |
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| House prices rose by just 0.9% in the year to June 2012, but sales of homes worth £1m or more nose-dived by 43% over the same period, according to official figures. | House prices rose by just 0.9% in the year to June 2012, but sales of homes worth £1m or more nose-dived by 43% over the same period, according to official figures. |
| The number of properties sold in England and Wales for more than a £1m in the year to April 2012 fell from 825 to 468, the Land Registry announced in its latest house price index. | The number of properties sold in England and Wales for more than a £1m in the year to April 2012 fell from 825 to 468, the Land Registry announced in its latest house price index. |
| It also said prices in England and Wales rose by 0.1% in June 2012, taking the average price of a property to £161,777, just £100 more than the month before. | It also said prices in England and Wales rose by 0.1% in June 2012, taking the average price of a property to £161,777, just £100 more than the month before. |
| Property sales in April 2012 – the latest figures from the Land Registry – fell by a steep 19% from the April 2011 figure, though total sales in the first four months of 2012 are 8% higher than the previous year's. | Property sales in April 2012 – the latest figures from the Land Registry – fell by a steep 19% from the April 2011 figure, though total sales in the first four months of 2012 are 8% higher than the previous year's. |
| Peter Rollings of estate agent Marsh & Parsons said: "A shortage of supply may be helping prop up prices nationwide, but the true thermometer for the national housing market is the number of sales taking place. By this measure, the national market is far from fighting fit." | Peter Rollings of estate agent Marsh & Parsons said: "A shortage of supply may be helping prop up prices nationwide, but the true thermometer for the national housing market is the number of sales taking place. By this measure, the national market is far from fighting fit." |
| Rollings said tight lending criteria continue to thwart underlying buyer demand, at a time when consumer spending power is already under pressure. | Rollings said tight lending criteria continue to thwart underlying buyer demand, at a time when consumer spending power is already under pressure. |
| While existing homeowners are set to benefit from plummeting mortgage rates as banks and building societies embark on a new lending war, first-time buyers are locked out of most of the deals. | While existing homeowners are set to benefit from plummeting mortgage rates as banks and building societies embark on a new lending war, first-time buyers are locked out of most of the deals. |
| One major factor helping to bring mortgage rates down are low "swap rates" – the price at which banks and building societies lend to each other – falling to historic lows. It has resulted in HSBC unveiling the lowest-ever five-year fix offered to UK households, at 2.99%. Santander matched HSBC with a mortgage for existing current account customers, while Nationwide has also reduced rates across its range of fixed and tracker rate mortgages by up to 0.40%. | One major factor helping to bring mortgage rates down are low "swap rates" – the price at which banks and building societies lend to each other – falling to historic lows. It has resulted in HSBC unveiling the lowest-ever five-year fix offered to UK households, at 2.99%. Santander matched HSBC with a mortgage for existing current account customers, while Nationwide has also reduced rates across its range of fixed and tracker rate mortgages by up to 0.40%. |
| But in most cases, the new deals are only available borrowers with large deposits, meaning first-time buyers are still facing problems with mortgage availability. Royal Bank of Scotland is one of the few to have cut its five-year fixed-rate (to 4.79%) for those with a 10% deposit. | But in most cases, the new deals are only available borrowers with large deposits, meaning first-time buyers are still facing problems with mortgage availability. Royal Bank of Scotland is one of the few to have cut its five-year fixed-rate (to 4.79%) for those with a 10% deposit. |
| On a regional basis, the Land Registry said prices in the east Midlands, south-west, and Yorkshire and the Humber all fell in June 2012, while prices in Wales rose by 2.5%. | On a regional basis, the Land Registry said prices in the east Midlands, south-west, and Yorkshire and the Humber all fell in June 2012, while prices in Wales rose by 2.5%. |
| Top mortgages | Top mortgages |
| Chelsea Building Society | Chelsea Building Society |
| HSBC | HSBC |
| Nationwide | Nationwide |
| Provided by London & Country for the Guardian |