20
Nov
House price growth edged down in October
House price growth continued to slow in October but presents no
cause for alarm, according to a house price index.
Figures from Assetz index, which is an aggregate of five major
house price indices, showed a 0.2 per cent drop in house
prices.
This takes the rate of annual house price growth down to 9.7 per
cent from September's figure of 9.9 per cent.
Stuart Law, chief executive of Assetz, said: "Annual house price
growth continued to fall back slightly, but this was widely
anticipated and should be little cause for alarm. We initially
anticipated that an annual growth of 8 per cent would be seen for
2007 and it now looks likely that our forecast was accurate.
"I would expect average house price growth across the indices to be
around five per cent in 2008, as the market continues to
stabilise."
The average price of a home in the UK now stands at £214,795,
according to Assetz' figures.
