October's House Price Index

UK house prices rise by 0.6% in October

  • The price of a typical UK house increased by 0.6% in October
  • Prices 0.9% lower than one year ago
  • Price of a typical home is now £164,153

Headlines October 2012

September 2012

Monthly Index* 327.9 325.8
Monthly Change* 0.6% -0.4%
Annual Change -0.9% -1.4%
Average Price £164,153 £163,964

* Seasonally adjusted figure (Note that monthly % changes are revised when seasonal adjustment factors are re-estimated)

Commenting on the figures Robert Gardner, Nationwide's Chief Economist said:

"UK house prices increased by 0.6% in October, more than offsetting the 0.4% decline recorded the previous month. Monthly price changes have failed to establish a strong trend in either direction over the past six months, with three months of increases and three months of price declines since May 2012.

The annual pace of change continues to display a picture of relative stability, with house prices down just 0.9% compared to October 2011. This maintains the pattern that has been evident since late 2010, with annual price growth remaining in a narrow band between +1.5% and -1.5% on all but two occasions over the past two years."

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