Halifax House Price Index
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwired) -- 10/02/13 --
Commenting, Martin Ellis, housing economist, said:
"House prices in the three months to August were 2.1% higher than in the previous three months; unchanged from both June and July. Prices in the three months to August were 5.4% higher than in the same three months last year, the highest annual rate since June 2010.
"Housing market activity is also on an upward trend with the number of mortgage approvals for house purchases - a leading indicator of completed house sales - 10% higher in the three months to July compared with the previous quarter after allowing for seasonal influences.
"Economic improvement and low interest rates, supported by official schemes such as Funding for Lending and Help to Buy, appear to have boosted housing demand in recent months. Nonetheless, relatively modest economic growth and below inflation rises in earnings are likely to act as a brake on the market. Overall, house prices are expected to rise gradually over the remainder of the year."
Key facts
ABOUT THE HALIFAX HOUSE PRICE INDEX
The is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. From this data, a "standardised" house price is calculated and property price movements on a like-for-like basis (including seasonal adjustments) are analysed over time. The annual change is calculated as an average for the latest three months compared with the same period a year earlier. These figures provide a better picture of the underlying trend compared to a monthly year-on-year number as they smooth out any short-term fluctuations.
EDITORS' NOTES
(i) House price data on a quarterly basis provides the clearest indication of overall market trends, smoothing out the monthly volatility caused by the reduced number of monthly transactions used to calculate all house price indices.
(ii) The annual change numbers are the quarterly year-on-year figures. These figures provide a better picture of underlying trends compared to a monthly year-on-year number as they smooth out any short-term fluctuations.
1. INDEX
The standardised index is seasonally adjusted using the U.S. Bureau of the Census XII moving-average method based on a rolling 84-month series. Each month, the seasonally adjusted figure for the same month a year ago and last month's figure are subject to revision.
2. STANDARDISED AVERAGE PRICE
The standardised average price is calculated using the Halifax's mix adjusted methodology.
3. PRICE/EARNINGS RATIO
Ratio of the Halifax standardised average price to national average earnings for full-time male employees. Price Earnings ratios revised to reflect new data in the Annual Survey of Hours and Earnings (ASHE). (e) Halifax estimates.
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. © Bank of Scotland plc all rights reserved 2013.
Contacts:
Halifax Press Team
Ben Marquand
01422 332833 / 07881 311199
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Datum: 02.10.2013 - 15:10 Uhr
Sprache: Deutsch
News-ID 302270
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LONDON, UNITED KINGDOM
Kategorie:
Personal Finance
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