Halifax House Price Index (7223N)
2011年9月7日 - 4:00PM
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RNS Number : 7223N
HBOS PLC
07 September 2011
Halifax House Price Index
National Index August 2011
All Houses, All Buyers Index (1983=100)
Annual Change Quarterly Change Monthly Change
-2.6% 1.0% -1.2%
Standardised Average Price (seasonally adjusted) GBP161,743
Commenting, Martin Ellis, housing economist, said:
"The underlying trend, as measured by the latest three months
compared with the preceding three months, showed a modest
improvement in house prices for the second consecutive month in
August. Prices in the three months to August were 1.0% higher than
in the previous three months.
"As we have pointed out before, the current low volume of sales
tends to make house prices volatile from month to month. The 1.2%
fall in August follows three months when prices have risen. As a
result, the more reliable quarterly change, which smoothes out some
of the monthly volatility, shows a rise in prices of 1.0%.
"A recent decline in average mortgage rates has further boosted
home affordability for those able to raise a deposit to make a new
purchase. Low interest rates are likely to continue to support the
market whilst increased uncertainty about the economic outlook and
pressures on householders' finances constrain demand. Overall, we
expect broad stability in both prices and activity over the coming
months."
Key facts
-- House prices in the three months to August were 1.0% higher
than in the preceding three months. This was the second consecutive
increase in this measure of the underlying trend.
-- On a monthly basis, house prices fell by 1.2% in August. This
was the first fall since April andfollows three successive monthly
rises.
-- The average UK house price in August was marginally lower
(-0.6%) than in December 2010 on a seasonally adjusted basis, at
GBP161,743.
-- On an annual basis, prices in August were 2.6% lower as
measured by the average for the three months to August against the
same period a year earlier. The annual rate is the same as in
July.
-- Modest pick-up in housing activity.The industry-wide number
of mortgages approved to finance house purchase - a leading
indicator of completed house sales - increased for the third
successive month in July, to 49,200 on a seasonally adjusted basis,
according to the latest Bank of England figures. In addition,
approvals were 2.5% higher than a year earlier. Despite rising to
the highest level since May 2010, the number of approvals remains
within the range of 45,000-50,000 per month where it has been since
the beginning of 2010.
-- Lower mortgage rates further boost affordability. The average
mortgage rate for a new borrower fell in July to 3.68% from 3.84%
in June, further improving affordability for those that can raise a
sufficient deposit to buy a home. The more than two percentage
points decline in mortgage rates since mid 2007 has reduced typical
mortgage payments for a new borrower from a peak of 48% of average
disposable earnings in mid 2007 to 28% in July 2011. This is
significantly below the long-term average of 37% over the past 25
years and is at its lowest since 1999. The recent decline in
average mortgage rates has been driven by a fall in fixed
rates.
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 2011.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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