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kingofnowhere

Odpm +0.95% Mom 5..1% Yoy

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http://www.communities.gov.uk/index.asp?id...ssNoticeID=2168

DCLG STATISTICAL RELEASE

House Price Index April 2006

DCLG Statistical Release 2006/0022

12 June 2006

Download this release as a PDF: House Price Index April 2006 (PDF 92 Kb)

The mix-adjusted average house price in the UK in April 2006 stood at £188,290, up from £186,519 in March 2006 (not seasonally adjusted).

UK annual house price inflation in April 2006 was 5.1 per cent, up from 3.3 per cent in March 2006. Annual house price inflation in London was 7.1 per cent in April 2006, up from 4.0 per cent in March 2006.

The UK annual house price inflation rate for the 3 months to April 2006 was 3.9 per cent, and 4.2 per cent in London.

Figure 1: UK annual house price inflation (all dwellings)

UK London UK

All dwellings All dwellings All

dwellings

Index

Feb 02=100 % change

over 12 months Index

Feb 02

=100 % change

over 12

months £

Not seasonally adjusted

2005 Nov 153.4 2.2 133.5 1.5 185,848

Dec 153.3 2.9 133.7 3.8 185,788

2006 Jan 155.1 4.1 136.1 5.0 185,112

Feb 153.2 3.4 132.5 1.5 182,925

Mar 156.2 3.3 138.4 4.0 186,519

Apr 157.7 5.1 140.5 7.1 188,290

House Price Inflation: Regional

The UK house price inflation rate rose from 3.3 per cent in March 2006 to 5.1 per cent in April 2006. Prices rose by 0.9 per cent between March and April, compared to a fall of 0.8 per cent seen over the same period last year.

The rise in UK prices between March and April can be attributed to rises in average prices for all property types, in particular for terraced houses (2.0 per cent, and semi-detached houses (1.1 per cent).

In the home countries, Scotland saw a fall in inflation in April, while inflation rose in England, Wales and Northern Ireland in April. The inflation rate in England rose from 2.5 per cent in March to 4.7 per cent in April, the inflation rate in Wales rose from 5.3 per cent to 6.6 per cent, in Northern Ireland the rate rose from 14.1 per cent to 15.8 per cent. In Scotland the rate fell from 10.8 per cent to 7.6 per cent.

Figure 2: House price inflation by country

House price inflation rose in all of the English regions. The highest inflation rate remains in Yorkshire and the Humber (8.9 per cent), followed by North East (7.3 per cent), London (7.1 per cent) and North West (6.5 per cent). Inflation rates were lower in other parts of England; in South West (3.7 per cent), East (3.2 per cent), East Midlands and South East (both 2.8 per cent) and West Midlands (2.0 per cent).

Figure 3: Regional house price indices

12-month percentage change for last month

HOUSE PRICES: REGIONAL

Mix-adjusted average house prices in April were £196,943 in England, £151,226 in Wales, £132,201 in Scotland and £142,475 in Northern Ireland.

The English region with the highest average house price in April remains London at £278,257. The lowest average price was in the North East at £136,253.

Only the East, London, South East and the South West had average prices above the UK average.

Figure 4: Mix-adjusted average house prices

Not seasonally adjusted

HOUSE PRICE INFLATION: TYPE OF BUYER

The UK house price inflation rate for first time buyers rose from 4.6 per cent in March to 4.9 per cent in April. This was due to a rise of 0.7 per cent in prices between March and April in the properties bought by first time buyers compared with a smaller rise of 0.4 per cent over the same period last year.

The inflation rate for former owner occupiers rose from 2.8 per cent in March to 5.2 per cent in April. This was due to a rise of 1.0 per cent in prices between March and April in the properties bought by former owner occupiers, compared with a fall of 1.3 per cent over the same period last year.

The average price paid by first time buyers across the whole of the UK was £146,248 in April, while the average price paid by former owner occupiers was £206,222.

Figure 5: UK annual house price inflation by type of buyer

12-month percentage change

TABLES

Tables are from November 2003 to April 2006.

A1: Mix-adjusted house price index and annual inflation by region.

A2: Mix-adjusted average house prices by region.

A3: Mix-adjusted house price index and annual inflation by type of buyer, UK.

A4: Mix-adjusted average house prices by type of buyer, UK.

Additional tables and earlier monthly data can be accessed in the 'Live tables' section (housing market) at www.communities.gov.uk/housingstatistics

Notes to editors

1. The mix-adjusted house price series are produced by the Department for Communities and Local Government and are being published on an experimental basis. Development of the methodology underpinning the indices has been undertaken in conjunction with the Office for National Statistics. The index will undergo a quality audit during 2006 with a view to gaining accreditation as a 'National Statistic'.

2. Since September 2005 the new mix-adjusted house price index is based on an enlarged sample of completions data (about 45,000 per month) from about 50 mortgage lenders who supply data through the Regulated Mortgage Survey (RMS) of the Council of Mortgage Lenders (CML)/BankSearch. Prior to this date the index was based on the Survey of Mortgage Lenders (SML) (about 25,000 completions per month). The number of cases received will also be affected by the total number of mortgages that have been completed.

3. In January of each year the index weights are revised to reflect the pattern of property transactions during the previous 3 years. The mix-adjusted average prices for the rest of the year are then determined using these new weights. Consequently whilst house prices within the year are comparable – they are all based on the same weights - house prices between years cannot be compared because last year’s weights and this year’s weights are different. The index itself is constructed on a chain-linked basis, which enables year-on-year comparisons to be made. This means that the year-on-year change in the index for April, say, is effectively the change in the average price from April 2005 to January 2006 (using last year’s weights) combined with the change in the average price from January 2006 to April 2006 using this year’s weights. Therefore, the year-on-year change in the index is not the same as the year-on-year change in the mix-adjusted average price.

4. The DCLG index is currently showing similar year-on-year inflation to other indices available from commercial sources. The slight difference will be affected by differences in weighting. The DCLG uses expenditure weights, whereas other indices use transaction weights. Consequently, the DCLG index is influenced by house price inflation rates in the higher priced areas (which are currently in the South) where house prices - and therefore total expenditure on house buying - is highest. Similarly, regional inflation determined by the DCLG is more influenced by the market for the higher priced properties (i.e. the demand for detached houses).

5. Note that the DCLG house price index figures released in this issue are based on completions during the month of April. Other recent indicators have been based on asking prices in May or prices based on mortgages approved during May. Therefore the DCLG figures are not directly comparable with these other indicators.

6. A month on month comparison of the DCLG index and price is not advised, as the series are not seasonally adjusted and comparisons over periods of less than a year will be affected by seasonal fluctuations. The series will not be seasonally adjusted until a sufficiently long series exists.

7. Further details on the methodology of the index can be found in the Publications section of Housing Statistics website, at www.communities.gov.uk/housingstatistics.

8. Further quarterly and annual house price data can be found on the DCLG web site in Live tables - Housing Market section, tables 507 and 508 and tables 590 to 594.

9. The next three release dates are:

Monday 10 July 2006

Monday 14 August 2006

Monday 11 September 2006

Media Enquiries: 020 7944 3049

Out of Hours: 020 7944 5945

E-mail: press.office@communities.gsi.gov.uk

Public Enquiries: 020 7944 4400

DCLG website: www.communities.gov.uk

The Department for Communities and Local Govenrment is not responsible for the contents or reliability of the linked web sites and does not necessarily endorse the views expressed within them. Listing should not be taken as endorsement of any kind. We cannot guarantee that these links will work all of the time and we have no control over the availability of the linked pages.

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West Midlands

167,213 Jul 2005

166,008

165,067

163,952

165,751

165,238

164,959

163,735

164,813

165,144 Apr 2006

Down a little in my area but not by much.

ODPM's Q figures look better and appear to be somewhat at odds with the latest figures?

Herefordshire £289,910 -0.9%

Warwickshire £287,775 -5.8%

Worcestershire £280,997 -1.1%

West Midlands £269,526 1.8%

Shropshire £255,674 -4.9%

Staffordshire £244,820 -1.9%

Wrekin £213,857 2.7%

Stoke-On-Trent £165,187 -0.1% -

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http://news.bbc.co.uk/1/hi/business/5071044.stm

House prices have risen in April, according to Department for Communities and Local Government (DCLG) statistics.
Between March and April, the average house price in the UK rose from £186,519 to £188,290, the DCLG said.
However, the most recent surveys from the Halifax and Nationwide have both suggested that the market came off the boil during May.

At least the BBC do not edit out the good news!

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http://news.bbc.co.uk/1/hi/business/5071044.stm

House prices have risen in April, according to Department for Communities and Local Government (DCLG) statistics.
Between March and April, the average house price in the UK rose from £186,519 to £188,290, the DCLG said.
However, the most recent surveys from the Halifax and Nationwide have both suggested that the market came off the boil during May.

At least the BBC do not edit out the good news!

ODPM is at least two month behind Haliwde, so their 5.1% relates to Halifax in Feb of 6.70% and Nationwide 3.7%. So basically striaght down the middle. Therefore the ODPM will pick up for the next couple of months, and then May Hailwide (which showed the first slow down signs), will be the June number (reported in August)

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ODPM is at least two month behind Haliwde, so their 5.1% relates to Halifax in Feb of 6.70% and Nationwide 3.7%. So basically striaght down the middle. Therefore the ODPM will pick up for the next couple of months, and then May Hailwide (which showed the first slow down signs), will be the June number (reported in August)

Yep.

We all know about this. In my area, there was a rally from October ish, through X-Mas til probably March ish. It dies out as the rate cut ramping faded and gave way to some talk of hikes. That is how sensitive it is and I really think it is on a knife edge.

August will co-incide with a probable rate hike, which should start the negative ball rolling again.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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