‘Housing market’ Category

A shortage of ‘first-time sellers’ means that the number of terrace homes and flats being put up for sale are down 31% and 28% on the third quarter of last year, Rightmove said this morning.

One-third of potential first-time buyers said that their biggest single concern is being able to find the right property. Only one in 12 cited their ability to meet monthly mortgage payments as a major concern, but raising a deposit was the biggest concern, cited by four in ten potential first-time buyers. One in 14 expressed concerns about … Continue Reading

I have edited this from a recent article published by the BBC if you would like to read the full transcript just click here  

There is no doubt about it, house sales in the UK have been in their lowest levels since contemporary records began in the late 1970s. 

With just 869,000 homes sold … Continue Reading

According to the website ‘Home’, which uses data from virtually every property portal and website in the UK, the average length of time a property is now on the market before a buyer is found  has risen to 241 days, the longest since its records began in 2004. 

Before the credit crunch, average time on the market was just 60 days.

 Home says:  “last year, asking prices barely changed, moving up by just 0.6%. However, big … Continue Reading

Rightmove have produced some interesting numbers today;

Estate agents’ branches are selling less than one new property a week each and new listings are at the lowest level ever seen.

Just 36,433 properties are currently coming on to Rightmove per week, the lowest recorded in the ten years that the site has been measuring the market.

By contrast, there is a record level of search activity, with 44 million property searches in the first ten days of this year, up 27% on a year ago – but with home-hunters facing … Continue Reading

Miles Shipside, director of Rightmove, recently claimed that the state of the global economy is resulting in house prices in the UK being stuck in “limbo-land” ! Indeed, according to the latest figures from Nationwide, the cost of a typical home dropped by 0.6 per cent in the four-week period.

This means that in the last 12 months, there has been a decline of 0.4 per cent in the average cost of a house.

Chief economist at Nationwide Robert Gardner stated that the figures add up with the relative stability of the market … Continue Reading

If you are intending to move home this year, there are a few things that we feel you ought to know. If you’ve been monitoring the press you will have been getting a fairly confusing picture of what the housing marketing is up to – but the reality is that it is very slow.

According to Rightmove, the most important site in house selling, 7 in every 10 homes put on the market in the first 6 months of 2011 are still for sale. We’re sure that other agents will tell you … Continue Reading

 
What is the state of the UK housing market?
The following article appeared in an online estate agency magazine:

Publication of the latest report from HM Land Registry on Tuesday brought the final data to provide a summary of the health of the housing market for the first chunk of this year, and with it some pretty important numbers.

• The number of homes sold remains extremely low with just 2,194 selling across the UK every day (Source – HMRC). The long-term average is 3,474 while 5,333 were selling each day in February 2007.

• A total of 5,115 new properties came on to the market … Continue Reading
  

Norwich property prices drop for Christmas
Zoopla have reported today that the number of ‘discounted’ properties for sale in the UK has increased by 13% over last 3 months and a  further £500m has been slashed off UK asking prices since August of this year.The average reduction of 6.1% (£15,879) from initial asking price, 8% on properties over £1 million.

Norwich has been highlighted as the city second in the list for reduced prices. 46.8% of property have had an average price reduction of 5.92% or £12,478.
Begs the question, have the agents reduced their fees?
Full report can be found here: … Continue Reading