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House Prices - Summary
HOUSE PRICES IN JANUARY 07
House
prices increased by 1.3% in January.
Prices in Q4 were 4.2% higher than in 2006 Q3.
House
prices increased by 9.9% in 2006, just above the long-term
average of 8% per year.
In Greater London, the average price
increased to £287,176 by the end of the year.
It is now above the inheritance tax threshold
(currently £285,000) for the first time.
Halifax again calls on the government to commit to
linking the IHT threshold to house price inflation.
The average price in the South West
broke through the £200,000 barrier for the first time in 2006
Q4 to £200,931. The 10.5% increase in prices in the South
West in 2006 represented a recovery following a 1.9% fall in
2005. Similarly,
prices in East Anglia also achieved double digit growth
(13.0%) after a small fall in prices (-1.0%) in 2005.
As expected, house price inflation
remained modest in northern England in 2006.
The North recorded the lowest regional rise during the
year (3.1%), the smallest increase in the region since 2000.
Northern Ireland experienced a 53%
increase in its average house prices in 2006, from £128,917
in 2005 Q4 to £196,874 in 2006 Q4.
The increase in Northern Ireland was the biggest
regional annual gain since 1988 (West Midlands: 60%).
Continued
economic growth, rising employment and an ongoing lack of
supply will continue to drive up house prices over the coming
months. Higher interest rates, greater pressure on household
finances and subdued real earnings growth will, however,
constrain housing demand.
House prices are expected to increase by 4% during 2007
| Month |
Average
Price |
Monthly
Change |
Annual
Change |
Index |
| 2007 |
|
January
|
£188,623 |
1.3% |
9.9% |
610.5 |
| 2006 |
|
December
|
£186,035 |
-1.0% |
9.9% |
602.1 |
|
November
|
£187,995 |
1.7% |
9.6% |
608.4 |
|
October
|
£184,593 |
1.7% |
8.6% |
597.4 |
|
September
|
£181,186 |
1.0% |
8.0% |
586.4 |
|
August
|
£179,043 |
1.0% |
8.2% |
579.5 |
|
July
|
£177,020 |
0.2% |
8.8% |
572.9 |
|
June
|
£176,509 |
-1.2% |
9.4% |
571.3 |
|
May
|
£178,997 |
0.1% |
9.1% |
579.3 |
|
April
|
£178,992 |
2.0% |
8.0% |
579.3 |
|
March
|
£175,215 |
0.9% |
6.2% |
567.1 |
|
February
|
£173,498 |
1.4% |
5.5% |
561.5 |
|
January
|
£170,833 |
-0.4% |
5.1% |
552.9 |
Index Seasonally Adjusted.
Based on Index 1983 = 100
Source: Halifax and Nationwide
House
Prices in 2005
House
Prices in 2004
House
Prices in 2003
House
Prices in 2002
House
Prices in 2001
House
Prices in 2000
House
Prices in 1999
House
Prices in 1998
House
Prices in 1997/6
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