Household sentiment weakens in UK
June’s reading was the eleventh consecutive time that the index has been in positive territory, following the postreferendum low in July 2016.
However, while it remains in positive territory, the index has been steadily ticking down for the last three months which suggests that the perceived rate of house price growth is slowing, mirroring other mainstream indices.
Some 15.9% of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 9.3% said that prices had fallen.
This resulted in an HPSI reading of 53.3.
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.
Households in ten of the 11 regions covered by the index perceived that the value of their property rose over the past month, with households in the North East the exception. ■