House Price Market Update for January 2011
Skip to Headline Statistics or Other Useful Property Analysis
As property expert Kate Faulkner had predicted, property prices ended up pretty much the same by the end of the year as they had at the start. Kate's short term 12 month predictions are based on economic data feeds, consumer and business surveys and by predicting what news story the media will report month on month from property survey releases.
Where is the Property Market Heading in 2011?
This is a much easier question to ask rather than answer! Up until the summer of 2011, it is likely that the media news stories will be full of doom and gloom, this in turn will damage buyers' and sellers' confidence, so few people will be buying and few selling, unless they have to.
At the moment, figures are suggesting that the start of this year won't be as successful as 2010, nor 2009. Indeed back in the 1990's recession, there was a bit of a dip a couple of years in and it seems overall the UK property market will be follwoing the same pattern this year. Volumes are already down this year versus last, indicating less confidence this year than the last two.
The second half the year will probably see news worsen. News on job losses, squeeze on disposable income from spending cuts and tax increases will continue to hit the news. All this 'doom and gloom' definitely stops people from buying and selling their homes. Some regions will suffer volume and price falls more than others. Those in the North West and East, Wales and parts of Yorkshire and Humber are likely to be hit worst by government spending cuts and job losses.
Other areas, with high equity levels, a healthy economic recovery and where property continues to be in high demand and low supply, will continue to slowly recover this year. This includes areas such as London, Cambridge, in other words areas that are always 'pretty successful'.
Kate Faulkner, MD of Designs on Property Ltd says "Any 'average' figures quoted by the property price surveys via the mainstream media will be completely misleading this year". Kate continues "the only market reports that will be of any use will be local market data reports that you can get from the Land Registry and Hometrack". Alternatively you can follow our local property market data and Contact Us for more information.
READ MORE - Read Kate's latest summary on the property market and find out what's happening in your area, ignore the headlines, let Kate help you work it out for yourself. READ MORE
Performance and commentary since January 2009:-
Click here to see our latest buying/selling articles
Headline Statistics for January 2011
Headline Statistics | Statistics | +/- | Source | Month |
Average Prices | £163,814 to £223,121 | +1.5% to +0.4% YoY | Land Registry Lowest
Rightmove Highest | Dec/Jan data |
Transactions* | 59,829* | -2.76%% YoY | Land Registry | Jul to Oct 10 |
Time to Sell | 10.02 Weeks | Slight increase on last month | Hometrack | January |
Number of viewings to sale | 11 | Down on last month | Hometrack | January |
Offer to Market Price | 91.9% | Down on last month | Hometrack | January |
% change in new buyers registering with agents | -9.5% | Down on previous month | Hometrack | January |
No of houses sold by agents | 4 | Down on previous four months | NAEA | December |
% sold versus for sale boards | 23.1% | Slightly down on last month | For Sale Sign Analysis | January |
Number of new mortgages | 42,563 | Down on last month | Bank of England | December |
* Per month
Sold versus For Sale Sign Boards data*
Month 2011 | Jan |
Percentage
Sold | 23.1% |
Month 2010 | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
Percentage
Sold | 26% | 26.4% | 25.4% | 26.5% | 30.9% | 25.5% | 26% | 25.8% | 22.3% | 24.4% | 24.8% | 23.3% |
Month 2009 | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
Percentage
Sold | 16% | 12% | 17% | 19.5% | 21.1% | 28.3% | 29.5% | 30.2% | 36.3% | 27.3% | 31% | 34% | 26.7% |
*Data provided by FSSA, for more information on this data,
Contact usLinks 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 Property Analysis
Savills Latest Property Focus Q1 2011
Winkworth's Winter 2010 Market Analysis
Knight Frank - Residential Market Update and Forecast
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
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