House Price Market Update for January 2010
Skip to Headline Statistics or Useful Resources
Well those that were 'bullish' about the property market had a bit of blow in this month's data while the doom and gloomers who predicted a 'double dip' in property prices are starting to declare they were right!
January's data does however give mixed signals, with the number of buyers registering down and the number of 'sold board versus for sale boards' also down, suggesting the rebound in property activity and potentially prices has gone into reverse.
However other data such as the number of mortgages, transactions and offer to asking price ratios continue to rise.
So are we going to 'double dip'? As a short answer, in some areas, yes property prices are likely to start heading down, while in others - areas of strong demand in London for example are likely to continue to rise. Well that's the short answer, for more of an explanation and how you can find out what's happening in your area. 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 January 2010
Headline Statistics | Statistics | +/- | Source | Month |
Average Prices | £161,783 to £222,261 | +0.1% to +0.4% | Rightmove Highest
Land Registry Lowest | December/
January data |
Transactions* | 58,000* | +4.47% | Land Registry | July to October 09 |
Time to Sell | 8.6 Weeks | A slight increase on last month | Hometrack | January |
| Number of viewings to sale | 10 | A decrease on last month | Hometrack | January |
Offer to Market Price | 93.5% | A very slight increase on last month | Hometrack | January |
% change in new buyers registering with agents | -2.7% | Slightly down on last month | Hometrack | January |
| No of houses sold by agents | 6 | Up on previous month | NAEA | January |
| % sold to for sale boards | 26% | Slightly down on December | For Sale Sign Anaylsis | January |
| Number of new mortgages | 59,023 | An -1.7% decrease on last month's figure of 60,045 | Bank of England | December |
* Per month
Sold versus For Sale Sign Boards data*
| Month 2010 | Jan |
Percentage
Sold | 26% |
| 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
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
