House Price Index

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New sellers drop asking prices for the first time this year

  % Change in month% Change Past YearAve house price
July HPI-0.6%3.7%£236,332
June HPI0.3%5.0%£237,767

Key points

  • New sellers drop asking prices for the first time this year, down by 0.6% (£1,435)
  • Over 30,000 properties coming to market a week, up by 45% compared to July last year
  • 22% increase in sellers coming to the market following suspension of HIPs results in large jump in unsold stock
  • Number of unsold homes per agent jumps by almost 25% in the first half of the year as new sellers outnumber new mortgage approvals by 5:2

View Index comparison

Rightmove: compiled from asking prices of properties as they come on the market via Rightmove's member estate agents over the previous month, covering over 90% the market. Not seasonally adjusted. (Seasonally adjusted figure used for the Halifax from Nov 2003, as no unadjusted figure has been published.)

Halifax: based on mortgage approvals of loans agreed by Halifax Bank of Scotland over the previous month, seasonally adjusted.

Nationwide: based on mortgage approvals of loans agreed by Nationwide Building Society over the previous month, seasonally adjusted.

Rightmove measures asking prices and does not seasonally adjust its figures, while Nationwide and Halifax both report data based on mortgage offers, seasonally adjusted. The index offered by the CLG (Department of Communities and Local Government) measures prices at completion stage, not seasonally adjusted.

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