04/03/2010 by bill.

According to the Halifax House Price Report, house prices fell by 1.5% in February, the first decline since June 2009 following seven consecutive monthly increases. Despite this fall, the average price is 8.0% above the trough reached in April 2009.

There has been a decline in the underlying rate of house price inflation – measured by a comparison of the latest three months with the previous quarter – over the last few months. An increase in the number of properties available for sale has helped to reduce slightly the imbalance between supply and demand. At the same time, the bad weather in the first two months of 2010, together with the return of the lowest stamp duty threshold to £125,000, are likely to have had an adverse impact on housing demand. The combination of these factors appears to have helped to curb the upward pressure on house prices.

The Halifax results support the view of Nationwide that last week reported a 1% fall in house prices in February.

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29/01/2010 by bill.

According to the latest Nationwide House Price Report, UK house prices have made a strong start to 2010.

The report shows that house prices rose by 1.2% in January and are up 8.6% year-on-year.

The Nationwide reports that the 3 month on 3 month rate of change – usually a smoother indicator of the near term trend – dipped slightly from 2.3% in December to 2.1% in January, but this primarily reflects the smaller price increases recorded in November and December. Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month for the first time since May 2007.

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07/01/2010 by bill.

The latest Halifax House Price Index Report indicates that house prices increased by 1.0% in December. Prices increased for the sixth successive month with December’s rise slightly below the average for the preceding five months (1.2%).

Prices in the final three months of 2009 were 3.5% higher than in the third quarter. This is the biggest quarterly increase since 2006 quarter 4.

Prices have increased by 9.4% since reaching a low in April 2009; an increase in the average price of £14,552 over this period. This follows a decline of 23% between August 2007 and April 2009. The average house price is now £169,042.

House prices in December were 1.1% higher on an annual basis. This is the first increase in the annual rate of change - measured by the average for the latest three months against the same period a year earlier – since March 2008. The annual rate has turned around markedly from a low of -17.7% in April.

The Halifax reports that the housing market continues to pick up and that higher demand combined with low supply is driving the price increase, however thew Halifax view is that view is that house prices will be flat during 2010.

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31/12/2009 by bill.

The Nationwide House Price Index Report published today shows that UK house prices increased again in December by 0.4% with the average price now 5.9% up on one year ago.

The quarterly report shows that prices increased in the fourth quarter of the year throughout the UK except in Northern Ireland.

Prices continue to rise faster in the South - especially in London which experienced a quarterly increase of 3.4% - than in the North.

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30/12/2009 by bill.

The Land Registry data for November shows that the monthly change in England and Wales stands at + 0.9 per cent, which brings the average house price in England and Wales to £161,554.

The data shows an annual house price change of -0.3 per cent. This is the seventh month in a row in which the annual rate of decline has decreased.

The data shows that more transactions are being completed, transactions averaged 55,520 sales per month in the months June to September 2009. In the same period the year before, the average was 50,187 sales per month.

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09/12/2009 by bill.

The government temporarily raised the threshold for stamp duty on property sales to £175,000 but the Chancellor today confirmed that this will on 31st December when the threshold is expected to revert to £125,000. So anyone in the process of buying a home costing up to £175,000 needs to ensure that the sale is completed before 31st December to avoid paying 1% of the total sales value in stamp duty.

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01/12/2009 by bill.

The Nationwide reports that house prices rose by 0.5% again in November with average prices now up 2.7% on one year ago and at a similar level to where they were in early 2006.

The 3 month on 3 month rate of change – considered a better indicator of price change trend – dropped to 2.8% from 3.5% in October and 3.8% in September suggesting that house prices are now rising at a more moderate pace than in the spring and summer months.

The Nationwide points to unemployment rising at a lower rate than forecast and lower mortgage rates have resulted in fewer borrowers going into arrears than had been feared.

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03/11/2009 by bill.

The latest Halifax house price index shows that house prices increased by 1.2% in October, marking the fourth consecutive monthly increase. Nationally, house prices have risen by 2.9% since the end of 2008. They are now 7.1% higher than six months ago when prices reached a trough in April.

However, the index shows that house prices in October were 4.7% lower on an annual basis. The annual rate of change (measured by the average for the latest three months against the same period a year earlier) has fallen sharply from a low of -17.7% in April. It is at its lowest since May 2008 (-3.8%).

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30/10/2009 by bill.

The latest Nationwide House Price Index Report indicates that in October annual house price inflation was positive for first time since March 2008 with average prices up 2% on October 2008.

The report shows that house prices rose for a sixth consecutive month in October, but the strong upward momentum in property values seen over the summer is showing some signs of moderating as we head into the autumn months. The price of a typical property was 0.4% higher on the month in October, compared to an increase of 0.9% in September and 1.4% in both July and August. The 3 month on 3 month rate of change – generally a smoother indicator of the near term trend – dropped back slightly from 3.8% to 3.4%.

Over the first ten months of 2009, the seasonally adjusted index of house prices has risen by 4.6%, though relative to the October 2007 peak it is still down by 13.1%.

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28/10/2009 by bill.

The September data released today by the Land Registry shows a rising market with a monthly house price change of 0.9 per cent, up from half a per cent in August.

The annual drop of -5.6 per cent, up from a low of -16.3 per cent in February, takes the average house price in England and Wales to £158,377.

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