Download

House Price Market Update for June 2010

Skip to Headline Statistics or Useful Resources

June's property market data shows a definite stalling of buying and selling a home. On average, the number of buyers looking to purchase is at best staying the same but in many areas demand is falling. Meanwhile the number of properties for sale is on the rise.

Sales volumes are up by over 50% versus last year - but still not as high as 2006 levels. Prices are 'in theory' up by 5-8% year on year, but most of this growth seems to be due to price rises in London and the increase in more expensive properties above £1 million.  

According to Hometrack, "over the last four months the supply of homes for sale has grown three times faster than demand - new supply has grown 15% compared to a 4.9% increase in demand."

It is increasingly likely that property prices will stabilise, if not fall back, for the rest of this year and as we start seeing the effect of government cuts, some areas could find property prices fall further as they fall into 'double dip' recession.

For a more indepth analysis of what's happening to property prices in YOUR local area?
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 2010.

Performance and commentary since January 2009:-

Jan 10Feb 10Mar 10Apr 10 May 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 June 2010

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£165,314 to £237,767

+8.2% to +5.0% YoY

Land Registry Lowest
Rightmove Highest

May/June data

Transactions*

50,658*

+58.26% YoY

Land Registry

Dec to Mar 10

Time to Sell

8.4 Weeks

Slightly up on last month

Hometrack

June

Number of viewings to sale

11

Remains the same as the last three months

Hometrack

June

Offer to Market Price

94.3%

Slight increase on last month

Hometrack

June

% change in new buyers registering with agents

0.1%

A further decrease on previous two months

Hometrack

June

No of houses sold by agents

8

No change from last two months

NAEA

May

% sold to for sale boards

25.5%

A decrease on last month

For Sale Sign Anaylsis

June

Number of new mortgages

49,815

Slightly down on last month

Bank of England

May


*  Per month

Sold versus For Sale Sign Boards data*


Month 2010

Jan

Feb

Mar

Apr

May

Jun

Percentage
Sold

26%

26.4%

25.4%

26.5%

30.9%

25.5%

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

Free Property Articles

  House Moving Tips and Free Move Day Checklist from Property Expert Kate Faulkner
 
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