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House Price Market Update for January 2010

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Well those that were 'bullish' about the property market had a bit of blow in this month's data while the doom and gloomers who predicted a 'double dip' in property prices are starting to declare they were right!

January's data does however give mixed signals, with the number of buyers registering down and the number of  'sold board versus for sale boards' also down, suggesting the rebound in property activity and potentially prices has gone into reverse.

However other data such as the number of mortgages, transactions and offer to asking price ratios continue to rise.

So are we going to 'double dip'? As a short answer, in some areas, yes property prices are likely to start heading down, while in others - areas of strong demand in London for example are likely to continue to rise. Well that's the short answer, for more of an explanation and how you can find out what's happening in your area. READ MORE.

The outlook for 2010 will depend on whether buyers have run out of cash, interest rates go up forcing repossession. READ MORE for a summary of Kate's price predictions for 2010.

Performance and commentary since January 2009:-

Jan 09Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09Sep 09Oct 09Nov 09Dec 09

Click here to see our latest buying/selling articles

Headline Statistics for January 2010

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£161,783 to £222,261

+0.1% to +0.4%

Rightmove Highest
Land Registry Lowest

December/
January data

Transactions*

58,000*

+4.47%

Land Registry

July to October 09

Time to Sell

8.6 Weeks

A slight increase on last month

Hometrack

January
Number of viewings to sale10A decrease on last month

Hometrack

January

Offer to Market Price

93.5%

A very slight increase on last month

Hometrack

January

% change in new buyers registering with agents

-2.7%

Slightly down on last month

Hometrack

January

No of houses sold by agents6Up on previous monthNAEAJanuary
% sold to for sale boards26%Slightly down on December

For Sale Sign Anaylsis

January
Number of new mortgages59,023An -1.7% decrease on last month's figure of 60,045Bank of EnglandDecember

*  Per month

Sold versus For Sale Sign Boards data*

Month 2010Jan
Percentage
Sold
26%

Month 2009DecJanFebMarAprMayJunJulAugSepOctNovDec

Percentage
Sold

16%12%17%19.5%21.1%28.3%29.5%30.2%36.3%27.3%31%34%26.7%

*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

Free Property Articles

  House Price Market Update for February 2010
 
NALS Conference Chair 2016

Kate's Consumer Portal

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