There is increasing confusion about UK house prices according to most recent figures from the FT house price index .
The FT index combines data from official figures, mortgage lenders, estate agents and surveyors and its own research to give one the clearest pictures of the condition of the property market in England and Wales .
There have recent signs of stable growth, with the index accelerating again presently.
House prices went up by 0.7% in June, a slight increase in the monthly rate of house price change.
Furthermore, annual price inflation went up to 9%, up from 8.7% in May.
However, reasons for this increase are unclear. It is uncertain whether this represents a long term change.
Since December 2006 the average house price has gone up by £8,749, about 4% in the six months. Should London be taken out of the equation, the annual rate of house price inflation decreased by 7.6%.
Over the last 12 months, London house prices have grown twice as fast as elsewhere. Capital annual growth was 14.5%.
All observers agree that the property market is going to slow down as the year continues, due to negative income growth and likely increases in interest rates .
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Confusion About House Prices
Fri, 13 Jul 2007
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