House Price Market Update May 2009

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Summary Commentary for May 2009 See Summary Statistics
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 £153,000. 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.

Jan 09Feb 09Mar 09Apr 09

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Headline Statistics

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£152,898 to £227,441

-6.2% to
-16.2%

Various

April/May data

Transactions*

31,315*

-58%

Land Registry

Nov to Feb 08

Time to Sell

9.9 Weeks

Decrease

Hometrack

May
Number of viewings to sale13N/C

Hometrack

May

Offer to Market Price

90.3%

Increase

Hometrack

May

% change new buyers
registering with agents

+6%

Same as last month

Hometrack

May

No houses sold by agents10 Up from 8 in MarchNAEAApril
% sold to for sale boards28.3% up from 21.1%

For Sale Sign Anaylsis

May
Number of mortgages43,2018% up from March 09 but down year on yearBank of EnglandApril

*  Per month
**Per agent

Sold versus For Sale Sign Boards data*

MonthDecemberJanuaryFebruaryMarchAprilMay

Percentage Sold

16%12%17%19.5% 21.1% 28.3%

*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

NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

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