Friday, 12 August 2022

Householders cautious after market slowdown


HOUSEHOLDERS perceive that the value of their home rose in September, although at the slowest rate in eight months, according to the House Price Sentiment Index (HPSI) from Knight Frank and Markit Economics.

Some 26.7 per cent of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 5.5 per cent reported a fall giving the HPSI a reading of 60.6, the 18th consecutive month that the reading has been above 50. However, the reading was down on the 61.8 achieved in July and was the fourth consecutive month that householders’ perceptions about house price growth have moderated.

Households in all 11 regions covered by the index reported that prices rose in September, with those living in London perceiving that the value of their home had risen at the strongest rate (67.7), followed by households in the South East (67.5) and the East of England (64.4).

The future HPSI which measures what households think will happen to the value of their property over the next year, fell in September to 69.2, its lowest level since August 2013 and well below its peak of 75.1 in May.

Expectations for price growth weakened in 10 of the 11 regions covered by the index, with households in Wales the only ones more confident of future price rises than the previous month. In London expectations fell to a 17-month low.


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