6th May 2005

 

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:

 

 

 

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.

 

Also see www.ft.com/houseprices

www.acadametrics.co.uk