House prices to rise by just 1% this year, says leading lender

first_imgHome » News » Housing Market » House prices to rise by just 1% this year, says leading lender previous nextHousing MarketHouse prices to rise by just 1% this year, says leading lenderShrinking household incomes and affordability problems in London and the SE will subdue demand for homes, according to report out this morning from the Nationwide.4th January 201801,959 Views House prices will rise by just 1% this year, the latest house price report from the Nationwide reveals, returning to growth only in the “the longer term”.The lender says the average house price increase last year was 2.6%, down from 4.5% during 2016 as housing affordability problems and mounting pressure on household incomes continued to put the brakes on activity within the property market.Despite this, during 2017 all regions of the UK experienced house price gains except London, where they dipped by half a percent.“The major surprise during 2017 was undoubtedly the slowdown in London house prices. It’s been 13 years since the Capital sat at the bottom of the house price growth table, and since then we have seen prices surge to unprecedented and unaffordable levels,” says Alex Gosling, founder of HouseSimple.com (pictured, left).“Fortunately, there’s no longer the reliance on the London market to prop up the rest of the country. Growing regional business hubs have seen other major UK cities prosper, while London has suffered as property prices have become unaffordable for the majority.The West Midlands was the top performing region in the UK last year for house prices, where they rose by 5.2% year on year to an average of £182,861. The UK average is currently £211,433, the Nationwide reckons.“Low mortgage rates and healthy employment growth continued to support demand in 2017, while supply constraints provided support for house prices,” says Robert Gardner, the Nationwide’s Chief Economist (pictured, right).He also says that the market is being impacted by lower buy-to-let activity prompted by the recent stamp duty, tax relief and lending criteria changes, all of which have reduced demand for investment properties.The Nationwide is also worried about the size of deposit that many first time buyer must now save up, particularly in London and South East. In the capital its figures show that the average deposit has risen from £55,000 in 2007 to £80,000 last year, and from £38,000 to £50,000 in the South East.“It is arguably even more challenging to save for a deposit than it was a decade ago, due to falling real earnings – i.e. after taking account of inflation – and lower interest rates for savers,” says Robert.house prices Nationwide property market Robert Gardner deposits January 4, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Ships of US Navy’s 3rd Fleet to Participate in SFFW12

first_img View post tag: Navy View post tag: participate View post tag: Navy’s Back to overview,Home naval-today Ships of US Navy’s 3rd Fleet to Participate in SFFW12 Share this article View post tag: fleet View post tag: SFFW12 Three ships of the U.S. Navy’s 3rd Fleet are scheduled to visit San Francisco to participate in the 31st annual San Francisco Fleet Week Oct. 4-9.The ships participating include amphibious assault ship USS Makin Island (LHD 8), guided-missile destroyers USS Spruance (DDG 111) and USS Preble (DDG 88).San Francisco Fleet Week 2012 (SFFW 12) is an opportunity for the American public to meet their Navy, Marine Corps and Coast Guard team and to experience the best of the sea services. More than 2,500 Sailors, Marines and Coast Guardsmen are scheduled to participate in SFFW 12 to celebrate the shared maritime history of the naval services and the Bay Area. This event will showcase naval personnel, equipment, technology and capabilities with an emphasis on humanitarian assistance and disaster response (HA/DR).SFFW 12 will include the third annual Senior Leadership Seminar (SLS), which brings together leaders from the military along with local, regional, state and federal agencies and the private sector to discuss their capabilities to respond to a natural disaster in the Bay Area. The SLS provides senior Navy, Marine Corps, and Coast Guard leaders an excellent opportunity to build partnerships with their local, state and regional counterparts that are involved in disaster preparedness and response.There will be several opportunities for the public to interact with the crew and leadership of the participating ships during SFFW 12. In addition to the SLS, there will be an HA/DR-themed static display area at the Marina Green, ship tours, Urban Search and Rescue Training involving SFPD, SFFD, Sailors and Marines at Treasure Island, the Parade of Ships, Battle of the Bands in Golden Gate Park, and Navy, Marine Corps and Coast Guard participation in the Italian Heritage Day Parade and the San Francisco 49ers Military Salute game. Additionally, the Blue Angels will perform along the waterfront during the Fleet Week air show.U.S. 3rd Fleet leads naval operations across 50 million square miles of the eastern and northern Pacific Ocean, from the west coast of the United States to the International Date Line.[mappress]Naval Today Staff,October 04, 2012; Image: US Navy View post tag: UScenter_img View post tag: ships View post tag: News by topic Ships of US Navy’s 3rd Fleet to Participate in SFFW12 View post tag: 3rd October 4, 2012 View post tag: Naval Training & Educationlast_img read more