House Price Market Update for March 2010
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February and March figures price wise look far more rosey than January's. However, it's not a time to get too excited as the market doesn't appear to be 'doing much' this year at all - apart from London which does appear to be doing well versus 2009 and may even catch up this year to 2007 levels.
Property stock is slightly improving, so there may be a bit more choice for buyers, but the lack of lending availability is still restricting the number of sales. Hometrack have reported that "over the last six months of 2009 the supply of homes for sale grew by 1% while sales volumes grew by 20%". For more information on what's happening in your area READ MORE. We aren't estate agents or financial advisors, so we can give you a truly independent view. 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 March 2010
Headline Statistics | Statistics | +/- | Source | Month |
Average Prices | £164,455 to £229,614 | -0.38% to +0.094% | Rightmove Highest
Land Registry Lowest | February/
March data |
Transactions* | 63,687* | +10.33% | Land Registry | Sep to Dec 09 |
Time to Sell | 8.3 Weeks | Down from 8.4% | Hometrack | March |
| Number of viewings to sale | 11 | No change from last month | Hometrack | March |
Offer to Market Price | 94% | Up from 93.8% | Hometrack | March |
% change in new buyers registering with agents | 3.3% | Versus 8.3% last month | Hometrack | March |
| No of houses sold by agents | 8 | Slightly up on last month | NAEA | March |
| % sold to for sale boards | 25.4% | Slightly down on last month | For Sale Sign Anaylsis | March |
| Number of new mortgages | 47,094 | A fall on last month | Bank of England | February |
* Per month
Sold versus For Sale Sign Boards data*
Month 2010 | Jan | Feb | Mar |
Percentage
Sold | 26% | 26.4% | 25.4% |
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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