Released on = July 30, 2007, 5:59 am

Press Release Author = Charlott Burrows

Industry =

Press Release Summary = One of the UK\'s leading mortgage lenders has predicted that
house price growth will slow in the coming months.

Press Release Body = Northern Rock predicts that we will see a downturn in inflation
as the year nears its end and its prediction fits with that made by Rightmove.

The mortgage lender says that customers are being put off from taking out a mortgage
by recent base rate increases and points out that increased mortgage values are
making up for a decline in applications.

House price growth is also expected to suffer as a result of increased interest
rates and the threat of further rate rises.

\"We also expect to see house price inflation continue to slow in the second half of
2007 to end the year in line with increases in earnings,\" the firm told the Times.

Nationwide has recently published its House Price Report for July which shows that
house price growth in the month slumped to just 0.1 per cent.

This was down on the 1.1 per cent figure for June and brought annual inflation
crashing down from 11.1 per cent to just 9.9 per cent.

Almost all the lenders are now in agreement that house prices are slowing, says
National Homebuyers. \"Northern Rock are cautious over their wording,\" says director
Julian King.

\"The market is already slowing\" he says. \"Although house price inflation has
decreased across most of the UK, we need to be aware that in some areas property
prices are falling.\"

Figures published in the Nationwide House Price Report show that growth slumped to
just 0.1 per cent, down from the 1.1 per cent inflation seen in June.

National Homebuyers announced in May that an increase in enquiries to their fast
property purchase solutions from areas like Nottingham, York and Belfast meant that
prices were due to start falling.

Yesterday Greg Vaughan, partner at Patterson Miller in Belfast said the market is
\"overheated\".

Like much of the UK, Northern Ireland has enjoyed a sustained period of property
growth, but now, with a large number of buyers priced out of the market, sellers are
finding they need to reassess their asking price.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk