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House Price Market Update for November 2009

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Not surprisingly, figures in the run up to Xmas are showing a typical slowdown, but aren't suggesting YET that we are on our way to a 'double dip' with property prices. No doubt in an effort to avoid stamp duty increases on 1st January, the number of properties sold versus for sale has actually jumped from 31% to 34% back towards August's peak of 36%. The recovery of house prices to 2007 levels though is some way off with prices still down around 20% less than the 2007 peak. Regionally some areas are still struggling to recover at all with Telford and Sleaford only converting around 16% versus the 34% national average and a 40% 'normal market conditions'. 

Land Registry data shows the best performing areas continues to be Conwy (+2.1%) in Wales which is now showing a growth versus 2008 and Greater London (=0.2%) almost back in growth. The worst performing areas continue to be Neath Talbot (-16.4%) Kingston upon Hull and Torfean (-14.4%).

January and February will prove key months in understanding what will happen in 2010. But for Kate Faulkner's property price predictions:  READ MORE.

Performance and commentary since January 2009:-

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

Click here to see our latest buying/selling articles

Headline Statistics for November 2009

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£159,546 to £226,440

+1.6% to -3.4%

Rightmove Highest
Land Registry Lowest

October/
November data

Transactions*

52,608*

-6%

Land Registry

August 09

Time to Sell

8.4 Weeks

No change from last month

Hometrack

November
Number of viewings to sale11No change from October

Hometrack

November

Offer to Market Price

93.2%

A slight increase from previous month

Hometrack

November

% change in new buyers registering with agents

+0.1%

A decrease from +1.2% last month

Hometrack

November

No of houses sold by agents8Down from 9 last monthNAEANovember
% sold to for sale boards34% up from 31%

For Sale Sign Anaylsis

November
Number of new mortgages57,345An 2% increase on last month's figure 56,205Bank of EnglandOctober

*  Per month

Sold versus For Sale Sign Boards data*

Month 2009DecJanFebMarAprMayJunJulAugSepOctNov

Percentage Sold

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

*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

  January 2010 Nottingham Property News with Kate Faulkner on BBC Radio Nottingham
  Top Five Tips to Buying a New Home in 2010
  What to do if you are a Property Investor in 2010
  What to do if you are a Seller in 2010
  What to do if you are a Buyer in 2010
 
NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

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