Slight moderation in household sentiment on house prices in UK
This was the third consecutive month that the reading has been above 50 following the index’s post-referendum low in July.
Some 18.4% of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 7% said that prices had fallen. This resulted in a HPSI reading of 55.7.
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.
October’s reading was a slight decrease from the 56.9 recorded in September and its notable that the index remains significantly below its peak of 63.2 recorded in May 2014.
However, October’s figure is higher than the post-referendum average HPSI reading of 53.1 reflecting the general bounceback in sentiment which has been seen since the vote. ■