House price sentiment continues to ease in UK
This was the fourth consecutive month that the reading has been above 50 following the index’s post-referendum low in July.
Some 16.9% of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 6.3% said that prices had fallen. This resulted in a HPSI reading of 55.3.
Any figure over 50 indicates that prices are rising, and the higher the figure, the stronger the increase. Any figure below 50 indicates that prices are falling.
November’s reading was a slight decrease from the 55.7 recorded in October and is the second consecutive month during which household perceptions eased, which mirrors the wider trend in house price growth postreferendum. The index remains significantly below its peak of 63.2 recorded in May 2014. ■