How can you work out what's happening in the housing market?

publication date: Jun 6, 2011
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

How can you work out what's happening in the housing market?

House Property Prices

Every week we seem to hear that property prices have gone up, then the next week they've gone down! The problem is that most of these property price surveys and media reports don't actually tell us what's happening now, they only tell us the ‘story' of what has happened to property prices in the past. By the time we receive the information, it is typically 6-12 weeks out of date. Understanding ‘what's happened' is useful for the economy and businesses but not helpful when you are trying to decide whether now is a good time to buy, sell or invest in a home.

So what's happened to property prices in Nottinghamshire?

The main survey reported at the end of every month is the Land Registry which is produced from actual sales recorded by the government when a home is sold. The latest report suggests that nationally prices have been falling, albeit slightly, each month since January. Our local Nottinghamshire market seems to be following this picture and despite prices bottoming out in 2009 and holding up to the summer of 2010, prices on average, have fallen back over the last six months in line with a weaker economy.

READ KATE FAULKNER'S full article published in the Nottingham Evening Post!


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