UK House price index: October 2012

OCTOBER 2012 EDITION rightmove HOUSE PRICE INDEX THE LARGEST MONTHLY SAMPLE OF RESIDENTIAL PROPERTY PRICES AVERAGE PROPERTY ASKING PRICE UP CHANGE IN MONTH: +3.5% 3.5% £243,168 CHANGE IN PAST YEAR: +1.5% RIGHTMOVE MONTHLY ASKING PRICE TREND 4.1% 3.5% 2.8% 2.9% 1.6% 1.0% 0.0% -0.6% -1 -0.8% -2 -1.7% -2.4% -3 2.7% 3.1% -4 -5 ост NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT 2012 NATIONAL ASKING PRICE TREND BY PROPERTY TYPE DETACHED SEMI DETACHED TERRACED FLATS/APARTMENTS £356,077 £200,730 £183,602 £196,381 2.7% 1.2% 2.2% 0.9% AVERAGE HOUSE PRICE BY REGION MONTHLY CHANGE % ANNUAL CHANGE % EAST ANGLIA SOUTH EAST £230,057 £311,438 1.8 0.4 1.1 3.9 EAST MIDLANDS SOUTH WEST £162,199 £264,087 1.1 1.8 3.0 0.5 GREATER LONDON WALES £478,071 £168,045 4.8 6.2 3.4 1.5 THE NORTH WEST MIDLANDS £148,358 £190,124 2.5 1.9 3.9 2.4 NORTH WEST YORKSHIRE & HUMBERSIDE £165,865 £153,536 0.6 3.8 2.5 0.5 www.rightmove.co.uk/news/house-price-index Rightmove.co.uk is the UK's leading property website, displaying details of homes for sale or rent to the largest online audience. It is in the top 10 most popular websites in the UK (Experian Hitwise), has around 90% of all properties for sale and at any time displays a stock of over one million properties to buy or rent. The Rightmove House Price Index measures asking prices - the price at which a property is initially marketed by an estate agent in England and Wales. Asking prices are a leading measure of confidence within the housing market as they reflect the aspirations of both sellers and estate agents. While the initial asking price and the price at which a property ultimately sells may not match exactly, the asking price is a very strong indicator of perceived market value and reflects the prevailing view of local market conditions (e.g. supply, demand, competition) as well as wider economic forces (e.g. interest rates, the mortgage market). As asking prices mark the very beginning of the buying and selling process, they often run ahead of trends based on sold prices.