National Average UK House Prices are now Meaningless

We track over eight monthly reports on property prices produced on a monthly basis. This report summarises what these reports say about the market and Kate Faulkner comments on what this means for the industry, the market and general public.

Report Headlines:-

Rightmove – “Rightmove forecasts 2% rise in 2013, in spite of largest ever monthly fall
in December”
Nationwide – “UK house prices little changed in December, continuing the trend evident throughout 2012”
Hometrack – “Prices fall [on average] 0.3% in 2012 despite price rises across 20% of country. House prices forecast to fall 1% in 2013”
RICS – “December’s price balance indicates a stable picture, buyer interest increases further, confidence in sales and prices improves.”
Acadametrics – “2012 shows a modest rise in average prices but it was a year of
two halves”
Land Registry – “November house prices up 0.3 per cent since October”
Smart New Homes – “New home prices rise moderately in November”

Kate Faulkner comments:
“Although many of the reports are desperately trying to make their headlines interesting, the reality is house prices in the main are relatively flat when you look at national averages. For 2013, predictions are small falls such as Hometrack’s 1% through to small rises such as Rightmove’s 2%. Few though are expecting any dramatic movement of national statistics. The big news is really what’s happening at a local level and how this varies across the country.”

Read the complete Property Price Summary for January here, which includes:-

• New home property prices
• Regional Property Price Differences
• Demand for Property
• Supply of Property

What to do next? For more help, from Kate and her team, join Property Checklists for free.

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