House Price Index

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Rightmove forecasts 2% rise in 2013

  % Change in month% Change Past YearAve house price
Dec HPI-3.3%+1.4%£228,989
Nov HPI-2.6%+2.0%£236,761

Key points

  • New sellers take heed of winter slowdown and chop their asking prices by an average of £7,772 (-3.3%)
  • In spite of the largest monthly fall ever recorded, new seller asking prices are still up by 1.4% in 2012 – and Rightmove predicts the slow recovery will continue through 2013:

    - Rightmove forecasts a national 2% rise in 2013 assisted by greater competition among lenders to lend. However, with inflation running at more than 2%, housing is becoming cheaper in real terms

    - New seller shortage will continue to underpin prices, with no significant increase to the circa 1.2 million new listings seen in each of the last three years

    - Signs of slight improvement in the market, with average gap between final asking price and sold price narrowing to 3.7% in 2012 compared to 4.9% in 2009, 2010 and 2011

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House Price Index