House Price Index

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Northern Rock five years on

  % Change in month% Change Past YearAve house price
Sep HPI-0.6%0.7%£234,858
Aug HPI-2.4%2.0%£236,260

Key points

  • New sellers drop average asking prices for the third consecutive month, down by 0.6% (-£1,402) on the month and 4.6% (-£11,377) on the quarter
  • The fifth anniversary of the run on Northern Rock provides an opportunity to reflect on the pre and post credit-crunch property market landscape:

    - Average price of a property coming to market this September is virtually unchanged on a year ago at £234,858 (+0.7%)

    - Prices this month also unchanged on five years ago (Sep 2007) at £235,176 – down just 0.1%

    - In contrast average asking prices in previous five years (Sep 2002 to Sep 2007) saw a 55% rise

  • Average price ‘standstill’ in the last five years masks credit-crunch winners and losers
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House Price Index