Press Release
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FT House Price Index – August 2004
The FT House Price Index, calculated by Acadametrics, rose by 0.8% in August whilst the annual rate fell further to 15.9%.
The rise in the monthly rate of increase in the FT House Price Index is the lowest since May 2003 and compares with an average of 1.1% in the last three months. The fall in the annual rate in July has continued as the influence of the strong monthly house price rises of last summer falls out of the annual rate. Based upon its current trend the FT House Price Index suggests that the annual growth rate for 2004 will be around 13%.
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 % |
|
August 2004 |
£180,835 |
173.4 |
0.8 |
15.9 |
|
July 2004 |
£179,475 |
172.1 |
1.1 |
17.4 |
|
June 2004 |
£177,480 |
170.2 |
1.2 |
17.8 |
|
May 2004 |
£175,395 |
168.2 |
1.0 |
17.5 |
|
April
2004 |
£173,607 |
166.5 |
0.9 |
16.7 |
|
March 2004 |
£172,095 |
165.0 |
1.1 |
15.5 |
Whilst the monthly figures from the other leading indices have oscillated during the year, the FT House Price Index has presented a much smoother and more stable pattern. This helps us to present a clear picture of what is happening to house prices. The rate at which house prices are increasing is now evidently set on a downward trend as we first anticipated in the Spring.
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Also see www.ft.com/houseprices |