Friday, October 07, 2005

FT House Price Index!

The vaunted "soft landing in U.K. Here is the FT house pricer Index. Notice that prices of homes have decreased from March to September, though Real Estate Never Goes Down!



FT House Price Index
Published: October 6 2004 17:34 | Last updated: August 12 2005 11:15

The new FT House Price Index MA is now calculated on a mix adjusted as well as a seasonally adjusted basis. It shows that house price inflation in September has slowed to 3.2%, its lowest level since June 1996.

The FT House Price Index MA is calculated by Acadametrics and is designed to provide the most accurate guide to the real trends in residential property prices using Land Registry data (the only complete data source for domestic property prices in England and Wales).

We estimate the FT House Price Index MA, on a seasonally and mix adjusted basis, as follows:

House Price Index Monthly Change % Annual Change %
Sep 2005 £192,804 192.8 0.1 3.2
Aug 2005 £192,581 192.6 0.0 3.9
July 2005 £192,588 192.6 (0.2) 5.2
June 2005 £192,901 192.9 0.2 6.5
May 2005 £192,476 192.5 (0.5) 7.3
April 2005 £193,450 193.5 0.0 9.0
March 2005 £193,480 193.5 (0.1) 10.3

How the index is calculated

Figures for the most recent months are produced using the latest information from the Land Registry’s database of monthly property transactions and a statistical model to collate information from other published house price figures.

The FT index weights information from the Halifax, Nationwide and Office of the Deputy Prime Minister according to their past reliability in predicting Land Registry figures. The outcome from the modelling process is smoothed to avoid the erratic month to month fluctuations observed in some other indices.


Some Links:

news.ft.com/cms/s/1d089640-fb60-11d8-8ad5-00000e2511c8.html

news.ft.com/cms/s/fac2e51a-3667-11da-bedc-00000e2511c8.html

news.ft.com/cms/s/5879b016-30ba-11da-ac1b-00000e2511c8.html

news.ft.com/cms/s/7f0134ce-2972-11da-8a5e-00000e2511c8.html

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