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FT House Price Index – June 2005
House prices rose by 0.3% during June. It does appear that the market may now be stabilising, after 3 consecutive months during which house prices have fallen. The FT House Price Index shows that house prices have barely moved in the year to date and the annual change of 5.0% is the lowest recorded since July 1998 and looks set to continue to fall.
The FT House Price Index is
calculated by Acadametrics and foreshadows the Land Registry; the only complete
measure of domestic property prices in
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 % |
|
June 2005 |
£186,180 |
178.5 |
0.3 |
5.0 |
|
May 2005 |
£185,598 |
178.0 |
-0.7 |
5.9 |
|
April 2005 |
£186,958 |
179.3 |
-0.3 |
7.7 |
|
March 2005 |
£187,608 |
179.9 |
-0.5 |
9.1 |
|
February 2005 |
£188,470 |
180.7 |
0.7 |
10.7 |
|
January 2005 |
£187,168 |
179.5 |
0.4 |
11.0 |
|
December 2004 |
£186,337 |
178.7 |
0.7 |
11.5 |
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. Zero growth in 2005 compares to an average monthly growth 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 |