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House Price Market Update for December 2009

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The data this month is fascinating as it includes expert analysis of what happened in the market last year - even if few of our experts predicted it, they do at least understand why the market stabilised. 

2009 saw a 'balancing' of supply and demand and hence the price falls predicted didn't happen. Supply is still remaining tight in 2010, but we are seeing a slowdown in demand. Cash rich first time buyers seem to be 'disappearing' and the number of buyers signing up is steadying as are the number of properties agents are selling (approx 8 per month).  

The biggest issue is the regional differences show by the data. Land Registry data shows the best performing area is Ceredigion (+4%) in Wales year on year, and London which is showing a 3.5% increase year on year and monthly rises. The worst performing area tends to be Hartlepool or Neath Talbot. This month it's Hartlepool (-12.8%) although despite London's overall good performance, Barking and Dagenham are down by 18% year on year! READ MORE.

The outlook for 2010 will depend on whether buyers have run out of cash, 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 09Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09Sep 09Oct 09Nov 09

Click here to see our latest buying/selling articles

Headline Statistics for December 2009

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£161,554 to £221,463

-0.3% to +1.7%

Rightmove Highest
Land Registry Lowest

November/
December data

Transactions*

55,520*

+5.5%

Land Registry

June to September 09

Time to Sell

8.3 Weeks

A very slight decrease from last month

Hometrack

December
Number of viewings to sale11No change from last month

Hometrack

December

Offer to Market Price

93.3%

A very slight increase from last month

Hometrack

December

% change in new buyers registering with agents

-2.2%

A decrease from +0.1% last month

Hometrack

December

No of houses sold by agents5Down on previous monthNAEADecember
% sold to for sale boards26.7%up from 31%

For Sale Sign Anaylsis

December
Number of new mortgages60,045A +4.7% increase on last month's figure of 57,345Bank of EnglandNovember

*  Per month

Sold versus For Sale Sign Boards data*

Month 2009DecJanFebMarAprMayJunJulAugSepOctNovDec

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

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

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  Working with Estate Agents
  What is Buying at a Discount?
 
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