House Price Index

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Seasonal lull as housing market prepares for Christmas

  % Change in month% Change Past YearAve house price
Nov HPI-1.6%1.6%£226,440
Oct HPI2.8%0.2%£230,184

Key points

  • Three months of price falls expected as new sellers drop asking prices by £3,744 (-1.6%)
  • Low stock and improvement in mortgage availability fail to buck seasonal price-fall trend
  • Annual increase of 1.6% the largest since May 2008 (+2.2%), with 7 out of 10 regions now in positive territory as recovery spreads north
  • No rush to beat stamp duty deadline as lenders’ high deposit requirements make the incentive almost irrelevant

View Index comparison

index-comparison-table

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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