House Price Market Update August 2009

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House Price Market Commentary for August 2009
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Current market analysis tells us that the market appears to be 'bottoming out' certainly from a volume perspective. With regards to prices, some areas, often those with a strong economy and a shortage of properties for sale, are seeing small rises and buyers are sometimes even competing on price to secure a property. 

Unfortunately none of the data shows any particular property types or areas that are really recovering, for example, sales volume is still down by nearly 50% and prices year on year are down from 8.4% (Ceredigion, NW Wales) to -22% (Luton).

Currently the 'green shoots' we are seeing are being driven by pockets of areas that have a short supply and demand is still high from first time buyers, property investors and people trading up. Finance is still a major issue preventing people from moving. For more market commentary including regional information READ MORE.

Performance and commentary since January 2009:-

Jan 09Feb 09Mar 09Apr 09May 09Jun 09Jul 09

Click here to see our latest buying/selling articles

Headline Statistics for August 2009

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£155,885 to £222,762

-3.1% to
-11.7%

Rightmove Highest
Land Registry Lowest

July/August data

Transactions*

35,848*

-42%

Land Registry

Feb to May 09

Time to Sell

8.7 Weeks

Decrease

Hometrack

August
Number of viewings to sale11No change from last month

Hometrack

August

Offer to Market Price

92.1%

Increase

Hometrack

August

% change in new buyers registering with agents

+1.4%

Down versus 2.8% last month

Hometrack

August

No of houses sold by agents9Down from 10 last month, up from 6 in July 08NAEAJuly
% sold to for sale boards36.3% up from 30.2%

For Sale Sign Anaylsis

August
Number of new mortgages50,123Up on June's 47,584Bank of EnglandJuly

*  Per month

Sold versus For Sale Sign Boards data*

MonthDecJanFebMarAprMayJunJulAug

Percentage Sold

16%12%17%19.5%21.1%28.3%29.5%30.2%36.3%

*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

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