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Actual | Forecast | Previous | Revised Form | |
| 0.6% | 0.9% | 0.8% | 1.0% | ||
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For January
Prices 3m/y: 3.6%, pr. 1.1% (Dec), -1.6% (Nov), -4.7% (Oct),
From the Release: "House prices rose by 0.6% in January. This was the seventh successive monthly increase and takes the average price to 9.9% above its trough in April 2009. January's rise, nonetheless, was more modest than in any of the previous six months. The marked reduction in interest rates over the past 15 months has, from a low base, boosted housing demand from those with a sufficient deposit to enter the market. Increased demand has combined with a low supply of properties available for sale to push up prices. There are some signs that more people are putting their homes on the market. A further increase in the supply of property is possible over the coming months, which would help to curb upward pressure on prices. Overall, our current view is that house prices will be flat during 2010." |
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| 4/3 | 5/6 | 6/4 | 7/8 | 8/5 | 9/10 | 11/3 | 12/8 | 1/7 | 2/4 | ||
| Actual | -1.9% | -1.7% | 2.6% | -0.5% | 1.1% | 0.8% | 1.2% | 1.4% | 1.0% | 0.6% | |
| Forecast | -2.0% | -1.0% | 0.0% | 0.7% | 1.0% | 0.8% | 0.6% | 0.9% | |||
| Previous | -2.3% | -1.9% | -1.8% | 2.6% | -0.5% | 1.2% | 1.5% | 1.1% | 1.3% | 0.8% | |
| Revised From | N/A | N/A | -1.7% | N/A | N/A | 1.1% | N/A | N/A | 1.4% | 1.0% | |
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Actual | Forecast | Previous | Revised Form | |
| 1.0% | 0.6% | 1.3% | 1.4% | ||
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For December
Prices 3m/y: 1.1%, pr. -1.6% (Nov), -4.7% (Oct), -7.4% (Sep),
From the Release (Martin Ellis, housing economist): "House prices increased for the sixth consecutive month in December. The 1.0% rise between November and December was slightly below the average increase over the previous five months. Prices increased for the second successive quarter following falls in both the first two quarters of 2009. Prices in December were 1.1% higher on an annual basis, marking the first rise since March 2008. House prices have risen by 9.4% since reaching a low in April 2009. The significant cut in interest rates following the worldwide financial upheaval in the autumn of 2008 has markedly reduced the burden of servicing a mortgage for many households. This has helped to stimulate housing demand, albeit from a low base. The recent improvement in the labour market, highlighted by increasing numbers of people in employment in both September and October, has also supported housing demand. The prospects for the market this year will depend on how the UK economy evolves and whether there is a significant increase in the supply of properties for sale. Overall, our current view is that house prices will be flat during 2010." |
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Actual | Forecast | Previous | Revised Form | |
| 1.4% | 0.8% | 1.1% | N/A | ||
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For November
Prices 3m/y: -1.6%, pr. -4.7% (Oct), -7.4% (Sep),
-10.1% (Aug),
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Actual | Forecast | Previous | Revised Form | |
| 1.2% | 1.5% | N/A | |||
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For October
Prices y/y: -4.7%, pr. -7.4% (Sep), -10.1% (Aug), -12.1% (Jul),
From the Release: "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. Demand for houses has risen in recent months due to the very low level of interest rates, the decline in property prices since the summer of 2007 and a pick-up in consumer confidence on the back of better economic news. Higher demand has combined with a low level of properties available for sale to result in rising house prices over the past few months." |
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Actual | Forecast | Previous | Revised Form | |
| 0.8% | 1.0% | 1.2% | 1.1% | ||
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For July
Prices y/y: -10.1%, pr. -12.1% (Jul), -15.0% (Jun), -16.3% (May),
From the Release: "The average UK house price rose by 0.8% in August. This was the second successive monthly increase and the fourth in the first eight months of 2009. Overall, house prices nationally are very similar to the level at the end of last year. Demand for housing has increased since the start of the year due to better affordability and low interest rates. This, together with low levels of property available for sale, has boosted house prices over the last few months." |
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Actual | Forecast | Previous | Revised Form | |
| 1.1% | 0.7% | -0.5% | N/A | ||
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For July
House Prices y/y: -12.1%, pr. -15.0 (Jun), % -16.3% (May),
From the Release: "Commenting, Martin Ellis, housing economist, said: "There was a 1.1% increase in the average UK house price in July. This was the second rise in the past three months and prices in the three months to July were 0.8% higher than in the previous three months. So far this year, house prices have fallen by less than 1%. Demand for homes has risen, albeit from a very low base, since the start of the year, driven by improvements in affordability and low interest rates. Higher demand has combined with the low levels of property available for sale to boost sales activity from exceptionally low levels and support prices over the past few months." |
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Actual | Forecast | Previous | Revised Form | |
| -0.5% | 0.0% | 2.6% | N/A | ||
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For June
House Prices y/y: -15.0% pr. -16.3% (May), -17.7% (Apr),
From the Release: "There was a 0.5% decline in average UK house prices in June. On a quarterly basis, the 1.9% fall in house prices in the second quarter was the smallest since 2008 quarter one. These figures provide evidence that the underlying pace of house price decline is easing. There are further indications of a modest improvement in sales activity, albeit at a very low level. Industry-wide figures show that the number of mortgages approved to finance house purchase increased for the fourth successive month in May. Approvals were at their highest level since April 2008 and 10% higher than a year earlier. Improvements in affordability and low interest rates have stimulated housing demand. This, together with a low level of properties available for sale, has helped to stabilise activity and reduce the underlying rate of house price decline in recent months." |
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Actual | Forecast | Previous | Revised Form | |
| 2.6% | -1.8% | -1.7% | |||
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For May
Provided by: Halifax Bank Of Scotland Official Release: PDF
House Prices y/y: -16.3%, pr. -17.7% (Apr), -17.5% (Mar), -17.7% (Feb),
From the Release: "There was a 2.6% increase in average UK house prices in May. This rise followed three successive monthly falls of between 1.8% and 2.3%. It is always important not to place too much weight on any one month's figures. Historically, house prices have not moved in the same direction month after month even during a pronounced downturn. For example, prices fell by 11% nationally during 1991 and 1992, but there were five monthly price rises in this period. There are some tentative indications of a possible stabilisation in activity, albeit at a low level. Bank of England industry-wide figures show that the number of mortgages approved to finance house purchase – a leading indicator of completed house sales - increased by 19% between the final quarter of 2008 and the first quarter of 2009, on a seasonally adjusted basis. Approvals in the three months to March were 45% lower than in the same period in 2008. House sales remain substantially below their long term average and market conditions are expected to remain difficult with housing activity continuing at low levels over the coming months."" |
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Actual | Forecast | Previous | Revised Form | |
| -1.7% | -1.0% | -1.9% | N/A | ||
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For April
Provided by: Halifax Bank Of Scotland Official Release: PDF
House Prices y/y: -17.7%, pr. -17.5% (Mar), -17.7% (Feb), -17.2% (Jan),
From the Relase: ""The average UK house price declined by 1.7% in April, slightly less than the 1.9% monthly fall in the previous month. The house price to earnings ratio – a key measure of housing affordability – is at its lowest level since the autumn of 2002 at 4.26. Mortgage rate cuts have reduced monthly payments for the average existing borrower by £111 since October 2008, also boosting affordability. Mortgage approvals remain at historically very low levels. Rising unemployment, low consumer confidence and the reduced availability of credit are all expected to exert downward pressure on the housing market over the next few months. As a result, further house price declines are likely." |
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Actual | Forecast | Previous | Revised Form | |
| -1.9% | -2.0% | -2.3% | N/A | ||
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For March
Provided by: Halifax Bank Of Scotland Official Release: PDF
House Prices y/y: -17.5%, forecast -17.4%, pr. -17.7% (Feb), -17.2% (Jan),
From the Release: ""The average UK house price declined by 1.9% in March. House prices in the first quarter of 2009 were 2.7% lower than in the previous quarter, which was smaller than the 5-6% falls recorded in each of the three previous quarters. Completed sales in England and Wales halved between 2007 and 2008, but there are some very tentative signs that activity may be beginning to stabilise. The latest industry-wide figures show that the number of mortgages approved to finance house purchase in February – a leading indicator of completed house sales - were the highest since May 2008." |
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