House Price Market Update July 2009

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House Price Market Commentary for July 2009
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Despite the misleading headlines that prices are rising, the actual national picture shows property prices continue to fall year on year albeit at a slowing rate. The latest Land Registry data shows the average home is now worth around £152,000. However, comprehensive analysis of both value and volume housing statistics shows:-

1. Property price surveys shouldn’t be relied on by the media to explain what is actually happening in the market.
2. The housing market is starting to bottom out in some areas around the UK.
3. Regionally, some markets have recovered, albeit at a low sales rate, while in other locations, the housing market is still in dire straits.

To really understand what the figures below mean and what is going to happen in the market place for the rest of 2009, then READ MORE.

Want to know whether you should buy, sell, rent or stay put? Click on the relevant button below:-

1. First time buyers – should you buy or continue renting?
2. First time sellers – I can’t sell, is there any point leaving my property on the market?
3. Trading up – what do you need to do to successfully sell and buy at the same time?
4. Trading down – is this the right time to be selling? Will you be losing money?
5. Property investors – will prices fall further or is now the time to buy? 

 READ MORE

Performance and commentary since January 2009:-


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

Click here to see our latest buying/selling articles

Headline Statistics

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£153,046 to £222,762

-3.1% to
-14%

Rightmove highest
Land Registry Lowest

June/July data

Transactions*

30,997*

-48%

Land Registry

Jan to April 09

Time to Sell

9.0 Weeks

Decrease

Hometrack

July
Number of viewings to sale11Down from 12

Hometrack

July

Offer to Market Price

91.5%

Increase

Hometrack

July

% change new buyers registering with agents

+2.8%

Down versus 4.6% increase last month

Hometrack

July

No houses sold by agents10 30% up year on yearNAEAJune
% sold to for sale boards30.2% up from 29.%

For Sale Sign Anaylsis

July
Number of new mortgages47,584Higher than May's 43,414, but still down YOYBank of EnglandJune

*  Per month
**Per agent

Sold versus For Sale Sign Boards data*

MonthDecemberJanuaryFebruaryMarchAprilMayJune

Percentage Sold

16%12%17%19.5% 21.1% 28.3%29.5%

*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

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