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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:-

Jan 10Feb 10Mar 10Apr 10 May 10Jun 10Jul 10Aug 10    
Jan 09Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09Sep 09Oct 09Nov 09Dec 09

Click here to see our latest buying/selling articles

Headline Statistics for September 2010

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£167,423 to £229,767

+6.7% to +2.6% YoY

Land Registry Lowest
Rightmove Highest

Aug/Sept data

Transactions*

53,089*

+21.14% YoY

Land Registry

Mar to Jun 10

Time to Sell

9.3 Weeks

An increase on last month

Hometrack

September

Number of viewings to sale

12

An increase on last month

Hometrack

September

Offer to Market Price

93.2%

A decrease on last month

Hometrack

September

% change in new buyers registering with agents

-2.9%

A decrease on previous three months

Hometrack

September

No of houses sold by agents

7

A fall from 8 in July

NAEA

August

% sold versus for sale boards

22.3%

Down on last month

For Sale Sign Anaylsis

September

Number of new mortgages

47,498

A decrease on previous month

Bank of England

August


*  Per month

Sold versus For Sale Sign Boards data*


Month 2010

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Percentage
Sold

26%

26.4%

25.4%

26.5%

30.9%

25.5%

26%

25.8%

22.3%

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 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

Download 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, 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

Kate's Consumer Portal

Propertychecklists.co.uk