Local Property Prices for December 2010

House Prices by Area! 

Local property prices and house prices by area are starting to show huge variations across the UK, meaning that the 'average house price' stats produced on a monthly basis by the top five property price surveys, are becoming almost meaningless.

For example, the Land Regsitry data says the average house price is £164,773. Break this down into regions and the variation is from the North East average of £108,000 to an astonishing £341,000, three times as much. Not one of the regions shows an 'average' anywhere near £164,000, they are either much higher or lower.

To make the property price surveys useful, it would be much better to break out London on it's own and supply a seperate property price average, unfortunately none of the surveys do this to date. This is particularly important as since the credit crunch we have seen such a vast change in the performance of different areas.

London has benefited from an international frenzy of overseas buyers taking advantage of property price falls and a weak pound. Now the market seems to be settling and, according to Winkworth, most of the movers within London are families trading up to their dream home. A shortage of stock means London prices end the year nearly 7% up.

Performance within London varies though, with the top performing areas such as Camden (+13% YoY) and Kingston upon Thames (+11.6% YoY) and areas such as Tower Hamlets and Bexley up just 5%. 

Outside of London, areas that are performing particularly well include Hertfordshire (+8.3%). Some places across England and Wales, such as West Sussex, Surrey, Reading, Luton, Leicester, Bristol and the City of Hull are up by 6-7% YoY. 

Areas suffering include Blackpool, Redcar and Blaenau Gwent, all down year on year by more than 4%.

Check out the number of boards below that are 'sold' versus 'for sale' in your area to see which ones are performing or not, or do your own count!

Take a look at the For Sale Sign Analysis information below to see if your area is covered.

Click here for Best Performing Areas
Including: Wallington, Loughton and Ely.

Click here for Average Performing Areas
Including: Andover, Netley and Northampton.

Click here for Worst Performing Areas
Including: Rothwell/Desborough, Boston and Gateshead.

Want FSSA data for your particular area? Then call 0845 308 2004 or email enquiries@designsonproperty.co.uk


Best Performing Areas