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Demand pulls ahead of supply as stock dwindles

  % Change in month% Change Past YearAve house price
Sept HPI0.6%-1.5%£223,996
Aug HPI-2.2%-2.2%£222,762

Key points

  • Average asking prices rise by 0.6% as Autumn sellers raise price expectations
  • Lowest stock levels for 18 months with 10 properties coming off the market for every 8 coming on
  • Lenders competing to cherry-pick the cash-rich which drives price increases in the more affluent South
  • Would-be sellers deterred from trading up by dwindling property choice and high deposit requirements

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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