Property Price Market Update May 2010

Quick snap shot:

May's prices continue to suggest that we are in for a rather dull remainder of 2010 in the property market. Prices are likely to be reported as up one month and down the next by the media. This will confuse buyers and, coupled with the likely bad news from the budget on June 22nd, activity in the market is likely to slow back down again.  

If you have any queries or comments on our property reports, contact us on 0845 838 1763 or email enquiries@designsonproperty.co.uk. We can also help you value your own home if you need an independent view of how to value the property.

What's Happening in YOUR Area? 
Regional property prices vary dramatically across the UK currently, while property sales continue to be almost half the volume they were pre credit crunch.

London continues to outstrip the rest of the UK - not unusual - but interesting, areas such as Chelsea and Kensington, with Hackney, Camden and Kingston closely following ie rich areas, attractive to foreign buyers, are thriving - some even ABOVE 2007 peak levels! Other areas in and around London such as Barking and Dagenham are still 16% down versus 2007 peak prices, proving that supply (loads of new flats in Barking/Dagenham) and demand (still low for UK residents) really influences property prices.

Land Registry shows London with a 15% increase in prices year on year and over 1.6% month on month. However, an even better performer this month is Brighton and Hove which are nearly 17% up YoY and 1.4% month on month. Leading performing areas in the London property market include Chelsea and Kensington which is +20.6% YoY, +3.6% month on month. With Richmond growing 15.7% YoY, up 1.4% month on month. Camden and Hammersmith and Fulham are also performing well. 

Bath, Somerset, Bournemouth, Bracknell Forest, Bristol City, Surrey and Trafford are all performing well year on year. While the worst performing area this month is Liverpool - 8.5% down YoY and Hartlepool -5.5% YoY.

Property type wise, the biggest growth in volume is now the £1.5mn+ market with sales volume up by over 158%. This is mostly driven by London's growth, which in turn is benefiting from a big uplift in international buyers who spend in the high price brackets and areas.   

For a really good understanding of what's happening in your area, checkout the number of boards are 'sold' versus 'for sale' below (or check locally yourself)

For Sale Sign Analysis information below to see if  your area is covered.

Click here for Best Performing Areas
Including: Harpenden, Hertford and Basingstoke.

Click here for Average Performing Areas
Including: Halstead, Bedford and Maidstone.

Click here for Worst Performing Areas
Including: Ashton Under Lyne, Grantham and Chester.

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


Best Performing Areas