regional price differences
-
Uncategorised
Crowded house
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “Supply is probably the single most feared issue in the property market. Buyer demand is strong, but the supply simply isn’t coming through. Agents may have to find ways of attracting new instructions.”
Read More » -
Uncategorised
Frozen Britain
Report Headlines Rightmove: “Home-owner confidence sets the scene for higher prices in 2016.” NAEA: “Sales to first time buyers highest in six years.” RICS: “No easing in supply constraint.” Nationwide: “Slight softening in house price growth in November.” Home.co.uk: “Stock of property for sale hits new low.” Hometrack: “Prices accelerate in large regional cities.” Land Registry: “October data shows a monthly price increase of 0.4 per cent.” Kate says: “The property market used to be relatively easy to predict from a business perspective. Things were often quiet for the first few weeks of January then the rush began to the end of May, quiet-ish summers, a flurry of activity post summer holidays and a quietening down to Christmas. Not anymore! Since the credit crunch, from one month to the next, we are never quite sure what is going to happen. This difficulty in forecasting the short and long term future of the property market from an industry perspective is now exacerbated by one government housing announcement after another, many of which are being made at too short notice, causing mayhem in the market! The main game changer though, is that both George Osborne (Chancellor) and Mark Carney (Governor of the…
Read More » -
Uncategorised
The market’s hot…warm…cold
Report Headlines Rightmove: “First-time buyer prices surge nearly 10 per cent in a year.” NAEA: “Sales to first time buyers rise.” Nationwide: “Slight pick-up in house price growth in October.” Halifax: “Annual house price growth rises to 9.7 per cent.” Agency Express: “October’s property market bucks seasonal trends.” LSL: “Fastest annual rise in house prices for six months.” Hometrack: “City level house price growth tentative slowdown.” Land Registry: “September data shows a monthly price increase of 1.0 per cent and the annual price change now stands at 5.3 per cent.” KATE SAYS: “The market clearly had a bit of an unexpected ‘up-tick’ this month, as until now, price growth seemed to have been slowing ‘on average’ each month. An odd statement though from Rightmove suggests that buy to let investors are “competing” with first time buyers. This shouldn’t really be happening as smart investors should secure a property at a discount, with cash, for example and find a way to add value. First time buyers on the other hand have the advantage over investors of needing a much lower deposit, essentially ‘gearing’ their purchase with a five per cent deposit or accessing schemes such as new build Help to Buy.…
Read More » -
Uncategorised
Patchy forecast for sales
Report Headlines Rightmove: “Biggest September rise for 13 years to new record high benefits the property-rich.” Home.co.uk: “Average London house price up £60,000.” NAEA: “Supply of available housing dwindles to eleven year low.” RICS: “Sales growth picks up speed as solid demand begins to filter through.” Nationwide: “Annual house price growth picks up to 3.8 per cent whilst regional divergence grows.” Halifax: “Annual house price growth eases to 8.6 per cent.” Agency Express: “UK property market gains momentum in September.” LSL: “The most frequently paid property price across England and Wales is just £125,000. Hometrack: “City level house price inflation is running at 8.3 per cent per annum, up from 6.6 per cent in May.” Land Registry: “August data shows a monthly price increase of 0.5 per cent and the annual price change is now 4.2 per cent.” KATE SAYS: “Property price inflation is reported to be between +3 per cent through to just under 9 per cent year on year depending on which index you look at. The higher rates are being applied to mortgage lending via Halifax and Hometrack’s City Index. But despite talks of affordability issues, LSL’s data shows that more houses are sold at £125,000 than…
Read More » -
Uncategorised
Housing supply contracts
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “The reality is that people will not move unless they can find a property that they really want to buy.”
Read More » -
Uncategorised
Agreed – agents need transaction volumes to rise!
Designs on Property tracks and summarises the monthly property indices.
Read More » -
Uncategorised
Buzzing builders and buyers
REPORT HEADLINES Rightmove: “House prices close to all-time high – will ‘granlords’ drive them higher?” Home.co.uk: “Home prices take a spring leap.” NAEA: “A third of all house sales made to first time buyers.” RICS: “Steadier demand and tight supply push price expectations higher.” Halifax: “House prices in the three months to March were 2.6 per cent higher than in the previous three months.” Agency Express: “Confidence continues.” Land Registry: “The February data shows a monthly price increase of 0.5 per cent.” Kate says: “It’s great to see that we have a much healthier market in 2015. Although most places are still stuck with a shortage of homes, especially versus the number of agents fighting for business, we have a market that is moving, but not ‘too fast’ and not ‘too slow’ at the moment. And better still, it’s being driven mostly by first time buyers getting themselves on the ladder, relieving some of the pressure on rental stock (or mum and dad’s house!). The other good news is that it is driving more sales of new builds. I haven’t seen so many new build sites buzzing with activity as I travel up and down the country since the start…
Read More » -
Features
Sunny spots + dark clouds
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “It’s a mixed forecast for the UK property market – a bright start to the year but Spring is unpredictable.”
Read More » -
Uncategorised
Chancellor’s reforms may thaw the chilly housing market
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “The question is, will the great news on Stamp Duty deliver more sellers?”
Read More »
