Green shoots, but frosty patches still ahead!

We track most of the monthly reports on property prices produced on a monthly basis. This report summarises what’s being said about the market and includes Kate Faulkner’s comments on what this means primarily for the general public, but also for the industry, market and economy.

Report Headlines:-
Rightmove – “Records tumble: national nears £250k, London passes £500k”
Home.co.uk – “Regional markets show signs of genuine recovery”
Hometrack – “Scarcity of supply pushes up house prices in the South”
Nationwide – “Modest pick-up in UK house prices in May”
RICS – “Help to Buy gives sales market a lift”
Acadametrics – “Prices rise £6,726 over the past twelve months”
Land Registry – “The April data shows a monthly price increase of 0.4 per cent”
Smart New Homes – “New homes market continues Spring soar”

Kate Faulkner comments on Report Headlines:
“Rightmove stats are showing more confidence in the market with asking prices up, however, it’s important to remember this is a statistical average, the actual average cost of a home in London is just over £375,000, according to the Land Registry. Still high, but there is a big difference between advertised property price averages and actual prices achieved. The latest house prices suggest small rises, but we should bear in mind inflation is up by over 2% and in most places around the UK, prices certainly aren’t keeping up, so in real terms, prices are actually still falling.”

New Home Property Prices
Smart New Homes – “The average price of a new home was £236,122 in April 2013, compared to £231,797 in March, rising 1.9% over the month. Annual growth escalated by 4.1% in April. All the major indices have shown a steady rise in average house prices in recent months. New homes cost marginally less than the average asking price in the wider housing market as house builders incentivise sales and price realistically. (April)”

Read the complete Summary of Property Prices for May here, including:-

• Regional Property Price Differences
• Demand for Property
• Supply of Property

What to do next?
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