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FT House Price Index – April 2005
House prices rose by 0.2% during April. The monthly rate of house price inflation remains positive but shows no sign of recovering to the levels seen last year. As a result the FT House Price Index shows a continuing steady fall in the annual rate of house price inflation which is down to 8.9% this month.
The FT House Price Index is calculated by Acadametrics and foreshadows the Land Registry; the only complete measure of domestic property prices. We still expect the first quarter Land Registry figures, which will shortly be published, to show a price increase of some 10.2% over the first three months of 2004 exactly as we forecast last month.
We estimate the FT House Price Index, on a seasonally adjusted basis,
as follows:
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House
Price |
Index |
Monthly
Change % |
Annual
Change % |
|
April 2005 |
£188,988 |
181.2 |
0.2 |
8.9 |
|
March 2005 |
£188,667 |
180.9 |
0.4 |
9.7 |
|
February 2005 |
£187,881 |
180.2 |
0.5 |
10.4 |
|
January 2005 |
£187,008 |
179.3 |
0.4 |
11.0 |
|
December 2004 |
£186,197 |
178.6 |
0.7 |
11.5 |
|
November 2004 |
£184,951 |
177.4 |
0.1 |
11.9 |
The FT House Price Index depicts the underlying trend in House Prices. This continues to show a steady decline in the annual rate of house price inflation since the peak of June 2004. The average monthly rate of house price growth of around 0.4% in the first part of 2005 compares to an average of 0.5% in Q4 2004 and 1.2% in Q3 2004.
FT House Price Index results to Dec 04 are based
on Land Registry published data, smoothed, seasonally adjusted but not mix
adjusted, revised with updated LR results as available. From Jan 05 to current
month, FT House Price Index monthly forecasts of updated LR house price results
are shown.
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Also see www.ft.com/houseprices |