House Price Index

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Downward price trend ends

  % Change in month% Change Past YearAve house price
Jan HPI+0.3%%0.4%£223,121
Nov HPI-3.0%0.4%£222,410

Key points

  • Scarce new sellers raise their asking prices 0.3% (£711), the first rise for three months
  • Property coming to market at its lowest level since January 2009, potential sellers of semi-detached property, either unable or unwilling to move, being the most significant absentees
  • Forecast of spring stock shortages to underpin prices in popular locations, as new seller numbers dwindle and record internet search activity indicates stirring buyer interest
  • VAT increase ‘picks the pockets’ of those struggling to stay in their homes, as well as hitting first-time buyers and trader-uppers saving hard to clear deposit hurdles

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