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:-
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 sale | 11 | No 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 agents | 5 | Down on previous month | NAEA | December |
| % sold to for sale boards | 26.7% | up from 31% | For Sale Sign Anaylsis | December |
| Number of new mortgages | 60,045 | A +4.7% increase on last month's figure of 57,345 | Bank of England | November |
* Per month
Sold versus For Sale Sign Boards data*| 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 usLinks 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 FrankFor 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
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