UK House Price Sentiment Remains Downbeat: Markit

UK House Price Sentiment Remains Downbeat: Markit


UK's house price sentiment continued to remain weak, with households reporting decline in prices for the twenty-seventh consecutive month in September, though at a slower rate, data from a survey by Markit Economics and Knight Frank showed Friday.
The house price sentiment index came in at 46.8 in September, up from 44.5 recorded in August. The latest reading indicated the slowest decrease in prices since July 2010. An index reading below 50 indicates decline, while one above suggests growth.
The outlook component of the index, which measures what households think will happen to the value of their property over the next year, improved in September, with households expecting prices to grow at the fastest pace over the next 12 months since May. The corresponding index rose to 53.2 from 51.8 in August.
Households in all regions, except London and East of London, said price of their homes decreased, with Scotland recording the deepest decline.