Buying and Selling Market Update April 2011

publication date: May 3, 2011
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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Buying and Selling Market Update April 2011


Past Property Market


Most of the property price surveys tell us the ‘story' of what happened to property prices in the past. As the data is 6-12 weeks ‘out of date' by the time it is press released and the property market can ‘turn' from ‘up' to ‘down' in a matter of months, this data can only be relied upon to suggest past rather than current or future market performance.

Land Registry data suggests that the house price market isn't performing as well as it did last year. Prices have been falling, albeit slightly, each month since January. This time last year, property prices were 10% away from the 2007 peak, this year they are 12% away from the peak. Nationwide statistics suggest a similar pattern, albeit that the numbers are slightly different and Acadametrics showing a slightly stronger performance, but still a similar picture.

The ‘national average' performance though is misleading. Nationally prices may not be changing that much, but that's more due to some areas performing quite well and other areas showing real declines. As such the national picture is of interest from an economic and business perspective, but of little value to anyone who is either currently buying or selling a home or trying to work out whether it's the right time for them to move.

What's happening to the CURRENT PROPERTY MARKET?

For more information for buyers and sellers visit:-

What to ask the Agents to better understand your Local Property Market

Residential Property Sale

How to sell a Property in a Falling Market


Average House Price  -
England & Wales

Jan 11

Feb 11

Mar 11

YoY

Land Registry

£163,499

£162,215

£161,718

-1.8%

Nationwide

£161,602

£161,183

£164,751

+0.1%

Acadametrics

£221,799

£222,456

£222,146

0%

Smart New Homes

£215,786

£219,172

£218,344

+1.0%


New homes however show a slightly different story. Developers appear to be doing a very good job of building homes they know they can sell - which appears to be restricted by the high loan to value ratios that the lenders are willing to loan at. Overall, Smart New Homes show that the average price of a new build has fluctuated between £215,000 and £220,000 for the last 12 months or so, suggesting that stability, for now, has been reached in this market place.

For more information about buying a new home visit:-

Top 10 Tips to Buying a New Home

Buying a New Build Property

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