Press Release
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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 16½% over the period.
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 % |
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October 2004 |
£186,692 |
179.0 |
1.0 |
15.0 |
|
September 2004 |
£184,780 |
177.2 |
1.2 |
16.2 |
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August 2004 |
£182,587 |
175.1 |
1.5 |
17.0 |
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July 2004 |
£179,852 |
172.5 |
1.4 |
17.7 |
|
June 2004 |
£177,434 |
170.2 |
1.2 |
17.8 |
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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.
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Also see www.ft.com/houseprices |