5th April 2005

 

FT House Price Index March 2005

 

House prices rose by 0.4% during March, continuing the low but steady rates of increase seen during the first quarter of 2005. The FT House Price Index also demonstrates a continuing steady fall in the seasonally adjusted annual rate of house price inflation which is down to 9.4% 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 expect the first quarter Land Registry figures to show an increase of around 10.2% over the first quarter of 2004.

 

We estimate the FT House Price Index, on a seasonally adjusted basis, as follows:

 

 

 

House Price

Index

Monthly Change %

Annual Change %

March 2005

188,100

180.4

0.4

9.4

February 2005

187,439

179.8

0.4

10.2

January 2005

186,704

179.1

0.3

10.8

December 2004

186,215

178.6

0.6

11.5

November 2004

185,146

177.6

0.2

12.0

October 2004

184,865

177.3

0.7

13.8

 

 

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 last June. The average monthly rate of house price growth of around 0.4% in Q1 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