Another Spring Bounce or is this Recovery for Real?
Well, it’s been an exciting few months in the property world. The government are definitely backing people to buy a home through both new build and improving people’s ability to buy and sell all homes via the Help to Buy Scheme.
Truth be known though, so far, according to most reports, we are really just experiencing the same spring bounce we have had since 2010. Prices go up then come back down again at the end of the year. It doesn’t sell newspapers, but it is the reality of what’s happening as you can see from the chart below.
Key facts about average property/house prices in England and Wales from March 2012 to April 2013*
- An ‘average property’ price for mortgaged properties has fluctuated between £162k – £166k for Nationwide
- Land Registry’s average prices for their analysis (including some cash sales) varies between £160k and £163k
- Acadametrics average property prices for all properties show a range between £220k and £231k
- Property prices in April, on average, are approximately:-
- Land Registry reported property prices April 2013 versus January 2011 have actually fallen by -1%
- Nationwide reported property prices April 2013 versus January 2011 have only increased by 2%
- Acadametrics reported property prices April 2013 versus January 2011 show the biggest rise of 4%
Read the Full Consumer Property Market Reports for May here, including:-
- Regional and national averages
- City Centre property price performance varies by 30%
- So is now a good time to buy, sell, invest, build or are you better off renting?
- Supply and demand
- Future Market: Green shoots but will they flower in 2013?
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