–UK Aug House Prices Up 0.2% m/m; Up 7.7% On Year
LONDON (MNI) – House prices in England and Wales posted their third
consecutive monthly rise although annual house price inflation continued
to slow, according to the latest LSL/Acadametrics report.
The set of August house price surveys have shown a mix of monthly
rises and falls, suggesting no clear direction in the housing market at
present. The LSL/Acadametrics House Price Index put the August move at
up 0.2% on the month and up 7.7% on the year, following a 0.3% monthly
rise in July and 8.7% growth on the year.
This week, the Halifax August house price survey recorded a 0.2%
rise on the month, while rival Nationwide showed a 0.9% drop. The house
asking price surveys from Hometrack and Rightmove both showed monthly
falls.
“To all intents and purposes, the market has been static with minor
monthly oscillations,” Peter Williams, Chairman of Acadametrics, said.
LSL/Acadametrics put the average house price at stg222,454, down
4.0% from its February 2008 peak.
LSL/Acadametrics, which base their index on Land Registry data,
revised up previous data from May through July, to show a 0.5% rise over
the period, with house prices down just 0.3% from March.
“What the overall position suggests is that we will continue to
experience a market which is flat,” Williams added.
LSL/Acadametrics estimated the number of house sales in August will
be 60,600, down 13.7% on July.
–London newsroom: 4420 7862 7492; email drobinson@marketnews.com
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