House Price Index

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Buyers snap up stock, but for how long?

  % Change in month% Change Past YearAve house price
Oct HPI2.8%0.2%£230,184
Sep HPI0.6%-1.5%£223,996

Key points

  • Largest October rise for 6 years as balance of power continues swing towards new sellers, pushing average Autumn asking prices up by 2.8% (£6,188)
  • 95,000 fresh stock, down 36% on 2007, including 22,000 stamp duty exempt sellers looking to cash-in before buyer incentive ends in January
  • Prices now higher than a year ago with London at record high - majority of buyers expecting more rises and only 1 in 10 expecting falls
  • ‘Window of opportunity for sellers’ given 2010 election and economic uncertainties facing the next Government and home movers

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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