Market Commentary House Prices February 2009

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Commentary for February 2009
Since January the main topic of property price conversation seems to be: “are buyers coming back?” or “have property prices bottomed out?”. As ever neither of these questions are really that useful, or actually possible to answer.

So what is happening to property prices? It’s all about supply and demand. 2008 saw an unprecedented fall in property prices, but this wasn’t the major issue as property prices are relative, so the only real losers long term are those trading down or forced to sell.

The real issue for 2008 was firstly the speed of the decline, but secondly the fall in the number of transactions. Indeed, the last time we sold so few homes was back in 1974! (source: Nationwide). READ MORE


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Headline Statistics

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£150,510 to £216,163

 -9% to
-17%

Various

Jan/Feb

Transactions*

41,014* 

-59%

Land Registry

August to November Average

Time to Sell

12 Weeks

N/C

Hometrack

December/January

Number of viewings to sale13N/C

Hometrack

February

Offer to Market Price

88.3%

N/C

Hometrack

February

Number buyers registered**

 242**

+21%

NAEA

January


*  Per month
**Per agent

Sold versus For Sale Sign Boards*

Month Percentage Sold
December

16%

January

12%

February

17%

March (to date)

19.5%


*Data provided by FSSA, for more information on this data, Contact us

Links to useful Buying and Selling Reports

Price Indices
There are at least seven property indices and other companies that comment on the property market, please checkout the links below:-

Rightmove    Halifax    Nationwide   RICS 
Communities    Financial Times    Land Registry

Other useful resources
Hometrack    NAEA    RICS    Savills    Knight Frank

For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit ABOUT US, see Kate on video and for media appearances, contact:

Sylvia Tidy-Harris
STH Management                    
Tel  +44 (0) 1530 263221
Mob  +44 (0) 7970 646872
Fax: +44 (0) 1530 264018

 

NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

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