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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
FTHPI shows only small house price falls
The FT House Price Index (FTHPI) has shown a 1.3% decline in prices in August but this only gives a decline of 2.2% for the last twelve months
The FTHPI is just one of several indices that try and measure movements in house prices and looking at my comparison chart I see that they have widely fluctuating figures. The annual movements that are shown can be summarised as follows:
FTHPI -2.2%
Nationwide -10.5%
Halifax - 10.9%
Rightmove - 4.8%
Hometrack -5.3%
The way the numbers are calculated is different in these indices, and it may be that a due to a tightening of their lending policies the Halifax and Nationwide are influencing their own figures. It should also be noted that with the credit crunch a higher proportion of property is likely to be bought without mortgage finance, so it may be worth paying more attention to whole market indices and not necessary purely lenders ones.
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