House Price Market Update for September 2010
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September and October property price survey figures support our previous prediction earlier this year that property prices and volume are starting to fall. All this will mean though, is that we are likely to end up at the same position at the end of the year as we were at the start.
So the story for the 2010 property market are rises for the first six months of 2010 and falls back to where we are for the second six months.
- When is the right time to invest?
Start looking for properties now and see if you can bag a bargain, at least 10% below the true market value.
- When is the right time to sell?
Probably look at end of January/early February.
- When is the next time to buy?
Consider buying now, especially if you are trading up, aiming for a 10%+ discount to help insure against any future drops next year. If you are a first time buyer, if you are worried about negative equity, hold off until February/March 2011.
- When is the next time to Build your Own Home?
Absolutely now and in 2011! Look to secure land now and a good team of builders!
Read Kate's latest summary on the property market READ MORE.
Want to know what's happening in your area, ignore the headlines, let Kate help you work it out for yourself. READ MORE
Performance and commentary since January 2009:-
Click here to see our latest buying/selling articles
Headline Statistics for September 2010
£167,423 to £229,767
+6.7% to +2.6% YoY
Land Registry Lowest
Mar to Jun 10
Time to Sell
An increase on last month
Number of viewings to sale
An increase on last month
Offer to Market Price
A decrease on last month
% change in new buyers registering with agents
A decrease on previous three months
No of houses sold by agents
A fall from 8 in July
% sold versus for sale boards
Down on last month
For Sale Sign Anaylsis
Number of new mortgages
A decrease on previous month
Bank of England
* Per monthSold versus For Sale Sign Boards data*
*Data provided by FSSA, for more information on this data, Contact usLinks to useful Buying and Selling Reports
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 FrankDownload Savills Residential Property Focus
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
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and for media appearances, contact:
Sylvia Tidy-HarrisSTH Management
Tel +44 (0) 1530 263221
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