Evening Standard - London, March 28th, 2007
THE housing market cooled this month after recent rises in interest rates put off potential buyers.
The figures emerged a day after Bank of England Governor Mervyn King acknowledged signs booming property prices were slowing, but said interest rates may still have to rise to keep a lid on inflation.
Britain's biggest building society, the Nationwide, said prices were up just 0.4% in March compared with a 0.6% rise in February. The annual rate of house price inflation fell from 10.2% last month to 9.3% this time around.
Nationwide chief economist Fionnuala Earley said: "The housing market sh...
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