Local Property Prices for January 2011
House Prices by Area!
According to Kate Faulkner, MD of Designs on Property and the property expert for Which?, says "Ignore the property price surveys in 2011, they are a mix of poor performing areas versus areas that are recovering from the recession well. They don't reflect what's happening anywhere you live". As such it's essential if you are looking at any property project to understand what's happening locally in your area.
To help you find out whether you are selling in a rising or falling market, or trying to buy a home in an area with lots of competition or very little, then read our local market summary below.
London seems to have 'lost' some of its international appeal for the moment and buyers seem to be holding off at the moment, but this is unlikely to last long and London will bounce back towards the second half of the year. Currently, prices are reporting strong growth of 6.2% YoY and a 1% increase month on month. However, the number of properties being bought and sold are declining with volume down -12% YoY. Only properties worth £2mn or more seem to be selling better than last year and property sales under £400,000 are down by 15-30% YoY. This suggests prices will stall over the coming months.
London regions vary too though. Property prices have grown most in Kensington and Chelsea up 13.3% YoY, Camden and Kingston upon Thames up over +11% YoY. Areas falling 'behind' are Tower Hamlets up just 2.7% YoY (-0.3% month on month) and Croydon down month on month but still up by 4.8% YoY.
In the rest of England and Wales, performing areas include Hertfordshire (+6.7% YoY), which is even better than London prices. Other areas such as Surrey, Thurrock and West Berkshire are all showing price growth of 6% or more.
Areas suffering include Blaenau Gwent, Denbighshire, Redcar and Cleveland and St Helens, all down year on year by more than 4% and most suffering month on month falls too, suggesting price declines are likely to continue.
For an even more accurate idea of what's happening in your local market, check out our board count below that shows 'sold' versus 'for sale' in your area. If your area isn't featured, then why not check out the number of boards sold versus for sale in your own area?
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: Cambridge, Reigate and Bury St. Edmunds
Click here for Average Performing Areas
Including: Aylesbury, Braintree and Fishponds
Click here for Worst Performing Areas
Including: Middleton, Lewes and Melton Mowbray
Want FSSA data for your particular area? Then call 0845 308 2004 or email firstname.lastname@example.org
Best Performing Areas
Average Performing Areas
For Sale Boards
Newport & Saffron Walden
Royal Tunbridge Wells
Palmers Green & Southgate
Bury St Edmunds
Worst Performing Areas
For Sale Boards
Brislington & East Southville
READ MORE for a full analysis of the Property Market
For Sale Boards
Leominster and Villages
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