FT: House prices up slightly in England and Wales
Published: 07-Dec-2007
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A new survey indicates that house prices in England and Wales increased last month.
According to the FT index, the average price increased by 0.5 per cent in November, seeming to contradict figures from Halifax and Nationwide that suggest declining prices.
Nevertheless, the FT did also find that annual house price growth decreased from 10.2 per cent in October to 9.1 per cent in November.
Dr Peter Williams of Acadametrics, which carried out the research, said: "The FT index is based on all property transactions in England and Wales, and our evidence of a softening market is very much in line with other indices despite the different reporting bases.
"The prices on which the FT index is based reflect transactions agreed some weeks ago. With continued weakening in consumer confidence and the further negative commentary on market prospects in 2008, we would expect this downward trend to continue."
Property prices appear to be levelling off, but they are also underpinned by a supply shortage and a buoyant economy.
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