BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
 You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
Tuesday, 25 September, 2001, 01:20 GMT 02:20 UK
Terror attacks 'will hit house prices'
For sale signs in London
The market remains strong, but fallout from US attacks is expected
House prices in the UK will be affected by the US terror attacks, experts warned as they released a new housing market report.

A Royal Institute of Chartered Surveyors (Rics) survey of three months to August showed the housing market remained strong - with completed sales reaching their second highest level since 1993.


The international situation will not help, particularly given the signs of a slowing economy

Rics' Ian Perry
But Rics' Ian Perry said: "The attack on the US and the subsequent international uncertainty will undoubtedly have an effect on the UK economy and with it the housing market."

The survey also showed that prices rose by 7% over the same period, with demand for property outstripping supply.

East Anglia saw the highest price rises, followed by the north west, and the north, while London witnessed a slight cooling off.

Mr Perry added: "The stabilisation of the market in the summer and the forecast slowdown are a welcome pause after the rapid rises in the first half of the year.

"The cut in interest rates will help support the market, but the international situation will not help, particularly given the signs of a slowing economy."

Despite this month's quarter point cut in interest rates, the Halifax warned the housing market is set to slow down as recession in the manufacturing sector damages consumer confidence.


News

Analysis

Tools

FORUM

TALKING POINT
See also:

06 Sep 01 | Business
05 Sep 01 | Business
20 Aug 01 | Business
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes