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Property Price Market Update July 2010

Quick snap shot:

July property figures show a stalling market versus 2009, which is not a great surprise. Property prices and volumes starting growing this time last year so what's really happening is that so far in 2010 we have performed better than the first six months of 2009. Now we are just continuing to perform as well as we did in the second half of 2009.  

Kate Faulkner, one of the UK's top property market commentators says that all people need to do is "stay calm, don't listen to the media reports, read your local newspaper, listen to your local property experts including agents and watch how many boards are turning from 'for sale to sold signs'".

Read below to find out what's happening in your area and if you need any help understanding whether to buy, rent, sell or just stay still, contact us on 0845 838 1763 or email enquiries@designsonproperty.co.uk. We can also help you value your own home if you need an independent view of how to value the property.

What's Happening in YOUR Area? 
The media love to talk about 'the property market', but unfortunately rarely do they do it well! What's annoying is they get that reporting 'average weather temperatures' across the country every day would be pointless, for some reason they don't apply the same logic to local property reports which are as equally diverse!

London outperforms the UK with price growth of 12% year on year and 1/2% increase from May's prices to June's prices 2010. Areas such as Hammersmith and Fulham are doing best with prices up 17.5% YoY, with Kensington and Chelsea, topping the London league with prices up again this month by 20% year on year. Areas not doing so well in London (ie up less than the UK YoY) include Lewisham, Barking and Dagenham and Croydon.

Around the rest of the UK, the only place to come close to Kensington and Chelsea is Brighton and Hove which has been a consistent performing area over the lat few months, up by 18% YoY. Other areas that are perform ing well include Luton and Southend-on-Sea up 14% YoY, followed by City of Bristol and Surrey.  

Areas that continue to suffer declines year on year, suggesting they are far from recovering and property prices could easily 'double dip' include Middlesborough, down by 7.5%, Blackburn with Darwen, down 4% YoY and Darlington, down by nearly 1% YoY.   

Property sales continue to increase for properties over £100,000, with £1-£1,5 million homes up by 143%.

Want to work out what's happening in your area? It might be old fashioned and not very 'internet friendly' but checking how many boards of similar properties you are buying and/or selling and working out how many are sold, is a great way to find out locally how property markets are faring near to you.

In the meantime, here's some board counts from around the UK which check out the number of boards that are 'sold' versus 'for sale'

Take a look at the For Sale Sign Analysis information below to see if your area is covered.

Click here for Best Performing Areas
Including: Berkhamsted, Maldon and Bradley Stoke.

Click here for Average Performing Areas
Including: Lutterworth, Bourne and Braintree.

Click here for Worst Performing Areas
Including: Louth, Lichfield and Hucknall.

Want FSSA data for your particular area? Then call 0845 308 2004 or email enquiries@designsonproperty.co.uk


Best Performing Areas

Town

Percentage of Sold versus For Sale Boards

Berkhamsted

52.1%

Edmonton

48.6%

Royal Tunbridge Wells

43.7%

Walthamstow

42.0%

Tottenham & Wood Green

40.6%

Clifton and Redland

40.3%

Bradley Stoke

39.9%

Catford

39.9%

Palmers Green & Southgate

39.1%

Bracknell & Warfield

38.5%

Havant

38.2%

Maldon

37.6%

Brislington & East Southville

37.1%



Average Performing Areas

Town

Percentage of Sold versus For Sale Boards

Birstall

26.6%

Lutterworth

26.7%

Rushden

26.8%

Bognor Regis

26.8%

Worcester

26.8%

Brentwood

27.7%

Tewkesbury

27.8%

Bitterne

27.9%

Bourne

28.3%

Shirley Road (Southampton)

29.1%

Ashby De La Zouch

29.2%

East Ham & Plaistow

29.7%

Stubbington

30.3%

Shirehampton

30.4%

Fishponds

31.1%

Braintree

31.2%

Totton

31.3%




Worst Performing Areas

Town

Percentage of Sold versus For Sale Boards

Louth

5.5%

Horwich

7.6%

Wesham

7.9%

Mansfield

9.9%

West Bromwich

10.9%

Ellesmere Port

11.2%

Heanor

12.2%

Hucknall

12.9%

Wigan

13.1%

Oldbury

14.5%

Seaton Delaval

15.2%

Gillingham & Wincanton

16.2%

Newcastle West

16.8%

Lichfield

16.9%

 

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Kate's Consumer Portal

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