Home Asking Price Index, November 2006: asking prices accelerate
Asking prices in England and Wales rose 1.3% this month and 0.5% annually, the first positive annual change since December 2005.
This is the November 2006 edition of the Home Asking Price Index, released on 13 November 2006, under the headline:
Asking Prices Accelerate
The headlines and summary below are the report's own words, with the key figures as it published them, followed by the report's charts and regional tables as printed.
Headlines
- Asking Prices for homes in England and Wales rose strongly this month by 1.3%.
- Asking Prices in England and Wales rose by 0.5% over the last year (ca. 1.9% below the CPI, ca. 3.1% below the RPI and ca. 3.1% below the AEI).
- Greater London Asking Prices rose by 1.6% this month, but the largest regional monthly rise was 3.1% in the North.
Summary
Asking prices for homes, currently on the market, in England and Wales increased by 1.3% this month making November the third month in a row of consecutive price rises. This further rise takes the 12-month change in average asking prices into positive territory for the first time since December 05 and now stands at +0.5%. Confidence amongst sellers of residential property has increased markedly over recent months as indicated by a plentiful supply of properties new on the market with higher asking prices.
Key figures
| Measure | Figure |
|---|---|
| Monthly change in asking prices | +1.3% |
| Annual change in asking prices | +0.5% |
Figures are for England and Wales unless the report states otherwise, as published in the edition.
Charts from the report
Laspeyres Index based on Weighted Arithmetic Mean of Weighted Arithmetic Mean of Regional House Prices. [May04 = 100]
Laspeyres Index based on Weighted Arithmetic Mean of Regional House Prices
Source: HM Land Registry
Regional tables
Regional average asking prices for November 06, showing gains and losses over the
| Scotland* | £161,146 | +7.7% |
| Wales | £193,758 | +7.4% |
| South West | £264,697 | +5.8% |
| North | £170,366 | +3.0% |
| Greater London | £313,854 | +2.8% |
| South East | £275,059 | +2.7% |
| Yorkshire and Humber | £172,535 | +1.8% |
| West Midlands | £200,831 | +1.5% |
| East Anglia | £255,135 | +1.3% |
| North West | £186,068 | +0.6% |
| East Midlands | £186,720 | -2.0% |
last six months.
Read the full November 2006 edition (PDF, 9 pages)
About the Home Asking Price Index
The Home Asking Price Index measures the change in the prices sellers ask for residential property across England, Wales and Scotland. Today it is computed every month from around half a million advertised homes and is mix-adjusted, so a change in what happens to be on the market does not move the figure; earlier editions state the sample they were built from. Because an asking price is set months before a sale completes, the index runs around five months ahead of completed-sale measures such as the UK House Price Index.
Every edition in the archive, back to October 2006, is listed on the index page. How we measure the UK property market explains the listing data behind it, and today's figures by area are on house prices and rental prices.
Text and figures above are quoted from the November 2006 edition as published, with punctuation normalised for the web, and are not revised. Later editions may restate them.
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