House Price Market Update September 2009

House Price Market Commentary for September 2009
Skip to Headline Statistics or Useful Resources

Market stats show property has had a little 'wobble' over the summer, with the percentage of properties sold versus for sale down from a high of 36% to a low of 27%, the lowest conversion since April 09.

Sellers and buyers are starting to stay at home again, with a real shortage of properties coming onto the market in some areas, however the number of buyers looking also fell according to Hometrack and NAEA.

Market stats show the best performing areas are in Wales with Ceredigion (-4.6%) Conwy (-6.1%) and Vale of Glamorgan (-6.2%) and London also showing a 6.2%  fall. The worst performing areas Hartlepool (-23.7%) and Luton continuing to fall (-18.5%). 

And it's not just securing lending that is causing problems for market recovery, according to the NAEA, people are starting to believe home ownership will always be beyond them. READ MORE.

Performance and commentary since January 2009:-

Jan 09Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09

Click here to see our latest buying/selling articles

Headline Statistics for September 2009

Headline Statistics

Statistics

+/-

Source

Month

Average Prices

£155,968 to £223,996

-1.5% to
-9.4%

Rightmove Highest
Land Registry Lowest

August/September data

Transactions*

41,911*

-31%

Land Registry

March to June 09

Time to Sell

9 Weeks

Increase

Hometrack

September
Number of viewings to sale11No change from last month

Hometrack

September

Offer to Market Price

92.4%

Slight increase from last month

Hometrack

September

% change in new buyers registering with agents

+1.1%

Down versus 1.4% last month

Hometrack

September

No of houses sold by agents8Down from 9 last month, up from 5 in August 08NAEAAugust
% sold to for sale boards27.3% down from 36.3%

For Sale Sign Anaylsis

September
Number of new mortgages52,317Up on July's 50,123Bank of EnglandAugust

*  Per month

Sold versus For Sale Sign Boards data*

MonthDecJanFebMarAprMayJunJulAugSep

Percentage Sold

16%12%17%19.5%21.1%28.3%29.5%30.2%36.3%27.3%

*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

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

Free Property Articles

  Call for Managing Agents to work closer with Solicitors and Surveyors
Nov 12, 2009
The head managing agent in the UK has called for more co-operation with professionals in order to help flat owners make sure they maximise the values of their properties, say the Association of Leasehold Enfranchisement Practitioners (ALEP).
  Many would be interested in how to go about buying and selling on for profit
Nov 11, 2009
Buying and selling property for a profit used to be ‘easy’. Through the millennium you could buy a property and be guaranteed it would make money in a few years and in some cases, a few months. Some people (and mortgage lenders!) seemed to think house prices would continue to rise, others warned of a housing bubble, but didn’t seem to be able to accurately predict when it would burst.

However, burst it did, starting in the States and hitting the UK very hard. The recession appeared to start in the property sector and within months we saw sales drop by 50% prices fall by 20% from a 2007 peak. Rental income which normally rises when house prices fall, has suffered with year on year falls of 5% or more, voids have increased as have tenant rent arrears.
  When and How you should Sell your Property Investments
Nov 10, 2009
When investing, most people concentrate on the ‘deal’ they are getting and whether it works in today’s market. However, since the property price falls of 2007 left many investors who wanted to cash in for their retirement in dire straits, and with the demand and supply of property likely to change in the future due to demographics, it’s essential to have a good idea of when is the right time to sell your investments.
  Why you Should Diversify your Property Investments
Nov 9, 2009
When it comes to property investment, many people start with ‘what they know’. This means buying a property, renovating it and then selling it on at a profit, or buying a property then letting it out.

However, once you have some property investment under your belt and before you look to do ‘more of the same’ then it’s worth making sure that your next investment(s) work in good and bad economic conditions, perhaps deliver a return at different times or in different ways to your existing investments.
  What should you do differently in the current economic climate?
Nov 6, 2009
With the difficult economic environment we are in and new rules that are likely to apply to property investment from a financial perspective, means that ‘doing the same thing’ may well not work now, or even in the future when the market picks up.
 
more articles >>
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