Halifax House Price Index (7025C)
May 04 2012 - 2:00AM
UK Regulatory
TIDM68FF
RNS Number : 7025C
HBOS PLC
04 May 2012
Halifax House Price Index
National Index April 2012
All Houses, All Buyers Index (1983=100)
Annual Change -0.5% Quarterly Change Monthly Change
0.3% -2.4%
Standardised Average Price (seasonally adjusted) GBP159,883
Commenting, Martin Ellis, housing economist, said:
"Prices in the three months to April were 0.3% higher than in
the previous quarter, marking the first rise in this measure for
seven months. Despite the slight improvement in the underlying
trend in recent months, house prices continue to lack real
direction with the current UK average price little different to
where it was at the end of 2011. The monthly figures continue to
fluctuate quite widely with a 2.4% decline in April, wiping out
March's 2.2% rise.
"The ending of the stamp duty holiday for first-time buyers in
late March appears to have boosted home sales early this year as
buyers strove to beat the deadline, and has probably contributed to
the volatility in house prices in the last few months.
"We continue to expect little overall movement in prices as the
UK economic situation remains challenging."
Key facts
-- House prices in the three months to April were 0.3% higher
than in the preceding three months (November 2011-January 2012).
This was the first increase in prices on this measure of the
underlying trend since September 2011 (0.1%), following six
successive falls.
-- On a monthly basis, house prices fell by 2.4% in April. This
more than offset the previous month's 2.2% increase as prices
continue to fluctuate month-to-month.
-- Prices in the three months to April were 0.5% lower than in
the same period a year earlier. This measure of the annual rate
improved slightly from -0.6% in March and showed the smallest fall
in prices since October 2010 (+1.2%).
-- No change in the average UK house price so far this year. The
UK average price in April 2012, at GBP159,883, was virtually the
same as in December 2011 (GBP159,888).
-- Rise in sales. The total number of completed house sales in
the first three months of 2012 was 11% higher than in the same
period last year. Sales were also the highest in the first quarter
of any year since 2008. Efforts by first-time buyers to beat the
expiry of the stamp duty holiday at the end of March, however,
probably increased sales in the first quarter of 2012, making it
difficult to determine the underlying trend. (Source: HMRC)
-- Britons are becoming more confident in the outlook for the
housing market, according to the latest Halifax Housing Market
Confidence tracker. Nearly 4 in 10 respondents predicted that house
prices nationally will increase over the next year, almost double
the 20% that believe house prices will fall. As a result, the
headline House Price Outlook balance - the difference between the
proportion of people that expect house prices to rise rather than
fall - increased to an overall balance score of +19 percentage
points in March from +7 in the previous survey in January. This is
the most positive reading since Halifax began measuring consumer
confidence in the housing market a year ago.
The Halifax House Price Index is prepared from information that
we believe is collated with care, but we do not make any statement
as to its accuracy or completeness. We reserve the right to vary
our methodology and to edit or discontinue/withdraw this, or any
other report. Any use of this report for an individual's own or
third party commercial purposes is done entirely at the risk of the
person making such use and solely the responsibility of the person
or persons making such reliance. (c) Bank of Scotland plc all
rights reserved 2012.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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