Download

House Price Market Update for August 2010

Skip to Headline Statistics or Useful Resources

July and August data shows that trying to report on the property market purely covering property prices is pointless. As with any market analysis, it's often the volume figure that is far more interesting.

For example, property sales' volumes started to fall in September 2007, for the Land Registry property price falls weren't recorded until NINE MONTHS later, in June 2008. Over those nine months, the number of properties sold fell by 49%, from 100,000 properties per month to just over 50,000.


Kate Faulkner, a top UK property market commentator says "The media - and many property surveys - always headline with property prices. If you are interested in what's happening in the property market, check out volume first, then look at the impact it has had on house prices." Kate warns "If the media and property commentators continue to concentrate on price alone they will (and do) mislead your average buyer and seller in the street about what's happening. This in turn makes it confusing and unnecessarily stressful for people to make one of the biggest financial decisions of their life". Kate concludes "It's about time the media woke up to getting people who understand the market to talk and report on it, rather than reading out a press release headline which rarely matches what the data actually reports!"  

Read Kate's latest summary on the property market READ MORE.

Want to know what's happening in your area, ignore the headlines, let Kate help you work it out for yourself. 
READ MORE

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

Performance and commentary since January 2009:-

Jan 10Feb 10Mar 10Apr 10 May 10Jun 10Jul 10     
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 August 2010

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£166,798 to £232,241

+6.7% to +4.3% YoY

Land Registry Lowest
Rightmove Highest

July/Aug data

Transactions*

48,219*

+30.51% YoY

Land Registry

Feb to May 10

Time to Sell

8.9 Weeks

Slightly up on last month

Hometrack

August

Number of viewings to sale

11

No change from last five months

Hometrack

August

Offer to Market Price

93.5%

A further decrease on last month

Hometrack

August

% change in new buyers registering with agents

-2.2%

A further decrease on previous two months

Hometrack

August

No of houses sold by agents

6

A fall on last month

NAEA

June

% sold to for sale boards

25.8%

Slightly down on last month

For Sale Sign Anaylsis

August

Number of new mortgages

48,722

Slightly up on previous month

Bank of England

July


*  Per month

Sold versus For Sale Sign Boards data*


Month 2010

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Percentage
Sold

26%

26.4%

25.4%

26.5%

30.9%

25.5%

26%

25.8%

Month 2009

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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

Download Savills Residential Property Focus

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

FREE Buy to Let eBooks

Download a copy of our
Buy to Let Show eBooks
for FREEsimply click on
the image below

Buy to Let Show - download our Buy to Let eBook for FREE