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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:
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|
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.
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Also see www.ft.com/houseprices |