HOUSEHOLDERS perceived that the value of their homes rose in December, according to the House Price Sentiment Index (HPSI) from Knight Frank and Markit Economics.
This is the ninth consecutive month that households across the UK have reported that the value of their home has increased.
More than 24 per cent of the 1,500 homeowners surveyed said the value of their home had risen over the last month, up from 7.7 per cent in December last year. Only 5.6 per cent of households said the value of their home had fallen over the last month, giving a record HPSI reading of 59.4.
Any figure under 50 indicates that prices are falling, and the lower the figure, the steeper the decline. Any figure over 50 indicates that prices are rising. This is slightly higher than October’s previous record reading of 59.1, and up significantly on the 47.1 reading recorded in December 2012.
Households in all 11 regions reported that the value of their home had risen in December, with those in London (67.3) and the South East (67.1) reporting the strongest growth over the last month.