House Price Market Update April 2009

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Summary Commentary for April 2009
Over the last month we have heard conflicting information. Some indices have reported growth in prices, others declines. We hear that some people are having to compete for properties which are going to 'sealed bids' pushing prices up, when others are saying they cannot sell at all.

The fact is that the property market is not going to recover 'as a whole' in a nice neat month by month increase. Firstly there are some properties in some areas that are now in short supply, so prices are rising. There are other areas where there are still far too many properties versus the number of buyers, so prices are still falling. Ideally, you need to ignore 'national headline stats' and concentrate on your local market to know whether to buy now, rent or build. READ MORE

January 2009February 2009March 2009

Click here to see our latest buying/selling articles.

Headline Statistics

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£151,861 to £222,077

-9% to
-17.7%

Various

April

Transactions*

35,480*

-57%

Land Registry

October to January
Average

Time to Sell

10.4 Weeks

Decrease

Hometrack

April
Number of viewings to sale13N/C

Hometrack

April

Offer to Market Price

89.6%

Increase

Hometrack

April

Number buyers registered**

Awaiting Information

%

NAEA

 

% sold to for sale boards21.1% up from 19.5%

For Sale Sign Anaylsis

April

*  Per month
**Per agent

Sold versus For Sale Sign Boards data*

MonthDecemberJanuaryFebruaryMarchApril

Percentage Sold

16%12%17%19.5% 21.1%

*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

  How do we solve the problem of Second Home Ownership?
May 14, 2009
Firstly it’s important to understand that much of the problem that second holiday home ownership causes is frustration and resentment from neighbours who want a community that everyone lives in all year round. So the real issue is not to ‘stop’ second home ownership, but to try to ensure that second home owners consider the community more and do their best to ensure the property is used as much as possible. Each community will have different issues and need different solutions. As a result, there isn’t a ‘one size fits all’ scenario that will sort the problem out. Most communities are more than able to work out what to do, however, here are some suggested steps which may help start to tackle some of these problems head on.
  When will prices start picking up?
May 12, 2009
As rental properties are slowly filled with those ‘would be First Time Buyers’ rents will start to rise and hopefully when 90% lending comes back in, many of those that would have bought and sold will start to enter the market again. A lack of supply of properties versus increases in demand will start to push prices up in some areas, while other areas will just see a welcome increase in the number of buyers and sellers, with property types short in demand (such as character properties) likely to increase while others won’t move at all.
  What will happen to the housing market over the coming months?
May 12, 2009

According to BBC1’s Property Watch, “recovery is all about consumer confidence”, only to some extent. The recovery of this property market is about one main thing and that’s the need for 90% mortgage lending to come back. It doesn’t matter how confident we all are, until proper, sensible lending comes back, the market can’t move forward that much, it’s basically stuck. So will prices continue to rise over the coming months? The answer to this is yes and no, oh and also ‘it depends where you live and what property type you have!’.
  Kate Faulkner’s Property Watch versus BBC1!
May 12, 2009
BBC1’s Property Watch, Facts or Headlines? Or skip to our own Property Watch and Price Predictions. I was a bit worried that this would be a series of ‘scare mongering’ and poor stats, or claims to get to the ‘truth about property’ which hasn’t ever got there in the past. However, the programme was an OK mix of property stats and stories. The ‘headlines’ were about how prices have fallen and the fear of long term negative equity, then a story about how the falls had affected people across the UK, interspersed with some facts, albeit not so far the best ones to be following the market.
  Major holiday home tax break changes could cost you thousands!
Apr 27, 2009
With the furnished holiday lettings rules due to be scrapped and the tax break being withdrawn next year, find out whether you a eligible for a tax windfall and when you need to apply by.
 
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