Press Release 4th November 2004

 

FT House Price Index October 2004

 

The FT House Price Index, calculated by Acadametrics to foreshadow the Land Registry results, rose by 1.0% in October while the annual rate fell from 16.2% to 15.0%, pointing to a lower rate of annual inflation than the surveys from the major lenders.

 

The FT House Price Index anticipates that the Land Registry third quarter results will confirm that house prices were still rising during the late summer although the annual growth rate steadily declined to 16% over the period.

 

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

 

 

 

House Price

Index

Monthly Change %

Annual Change %

October 2004

186,692

179.0

1.0

15.0

September 2004

184,780

177.2

1.2

16.2

August 2004

182,587

175.1

1.5

17.0

July 2004

179,852

172.5

1.4

17.7

June 2004

177,434

170.2

1.2

17.8

May 2004

175,310

168.1

1.0

17.5

 

 

While most indices tend to oscillate from one month to another, especially when the market is turning, the FT House Price Index depicts the underlying trend. This trend has been that the annual rate of house price inflation has been steadily declining since June despite the fact that monthly increases strengthened from May, reaching their peak in August.

 

Also see www.ft.com/houseprices

www.acadametrics.co.uk