House Price Index

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New sellers drop average asking prices by -1.1%

  % Change in month% Change Past YearAve house price
Sep HPI-1.1%2.6%£229,767
Aug HPI-1.7%4.3%£232,241

Key points

  • New sellers drop average asking prices by 1.1% (£2,474), the third consecutive monthly fall
  • Prices have now fallen by 3.4% in the last three months, half way towards wiping out the gains made in the first six months of the year
  • Is the propensity to sell deteriorating? September sees 26,000 new properties come to market per week, the lowest since April
  • Average unsold stock per agent stabilizes at 79 after six consecutive monthly rises

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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