Land Registry September house price index The sample:
The Land Registry holds records on all residential property
transactions made in England and Wales, so its sample size (more
than seven million sales) is the biggest. But since its index of
average prices is based on completed sales it lags behind other
reports. The findings: A slowdown. Prices increased by 0.4
per cent in September, but the annual increase of 8.7 per cent is
down from 9.3 per cent during the previous four months. Growth in
London slowed from 1.5 per cent in August to 1.3 per cent. Prices
fell in the Midlands, the South East and the South West.
Nationwide October house price report The sample:
Nationwide has tracked prices since 1946. Its data, collected at the
post-survey-approval stage, is mix-adjusted – it tracks the price of
a representative house over time. The findings: Robust.
Prices rose by 1.1 per cent in October, and the rate of annual
growth rose to 9.7 per cent, from 9 per cent in September. However,
new-buyer inquiries and mortgage approvals are falling and buy-to-let
rental yields no longer outweigh mortgage costs.
Hometrack October national housing survey The sample:
Hometrack collects more than 6,000 reports from estate agents in all
2,300 postcode districts in England and Wales. The survey includes
data on new-buyer registration, time on the market and viewings per
sale, so it gives a more nuanced picture. The findings: A
definite fall. Average prices dropped by 0.1 per cent in October
(0.2 per cent in London) and annual growth fell to 4.4 per cent from
5.4 per cent in August. The number of new-buyer registrations has
fallen by 17 per cent in four months. Growth will slow to 1 per cent
in 2008.
Council of Mortgage Lenders 2008 forecast The sample:
Forecasts based on data collected from the CML’s members, who make
up 98 per cent of residential mortgage lending. The findings:
Varied. House price growth will slow to 1 per cent, but lack of
supply and rate cuts will avert a crash. Sales will fall from 1.17
million this year to 1.01 million in 2008. Tougher lending criteria
will hit first-time buyers, boosting the rental sector.
