Property Prices In Many Towns In England And Wales Are Still 20% Lower Than 2007 Heights

Property Prices In Many Towns In England And Wales Are Still 20% Lower Than 2007 Heights

Average House prices for August/September 2013

How do August/September’s prices compare over time?
This month’s figures suggest:-

  • The Nationwide reported average property price of £172k for September 2013 which in comparison to previous years is the highest figure since Q2 2008 when it reached £174k.
  • The Land Registry average prices continue to show no significant changes during the last three years with the latest August average showing £164,654.
  • Acadametrics reported property prices in August are an average of £233,776 and show no major changes in the last six months.

 *(Appendix about seasonal adjustments)

How do this month’s prices compare to the rest of the year in England and Wales?

So far this year we can see from the chart that prices do appear to be moving upwards – on average.

(See attached pdf for Chart showing Average Property Prices for January – September 2013 in England & Wales)

Chart showing average property/house prices in England and Wales from January – September 2013*

  • So far this year, ‘average  property’ prices for mortgaged properties started off at £ £162,245 in January and has grown consistently to a height of £172,00 for Nationwide  (September)
  • Land Registry’s (August) average prices for their analysis (including some cash sales) started at £162,500, fell to £160,500 in March, but has risen to its highest so far this year at £165,000.
  • Acadametrics (August) average property prices for all properties, started in January at £227,478 and is currently at a high for the year of £233,776.

How far away are property prices from the heights achieved in 2007/8?
Whilst we have seen recent improvements in property prices in some areas of the UK, compared to the heights of 2007/08, property prices remain:-

How do this month’s property prices compare to the lows of 2009?
Although in the main, property prices haven’t recovered to the heights of 2007/8, compared to 2009 lows, property prices are definitely recovering:-

Read the full version of Kate Faulkner’s Consumer Property Market Reports here, which includes:-

  • Kate’s & other Expert Market Commentary
  • Additional supply of existing homes for sale, seems elusive to date
  • What’s happening to property prices regionally in August 2013?
  • What’s happening in your town in August 2013?
  • Property Supply & Demand

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

For Industry Professionals If you are you a property professional or journalist who needs up to date, accurate, facts and figures, stats about residential property, subscribe to our Property Information Portal.

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About Kate Faulkner

One of the UK’s leading property experts, commentators and analysts. An author of a number of property books, including four property guides for the consumer organisation Which?. Media appearances include BBC1 Breakfast, ITV/ITN, The One Show, BBC2 Your Money, Radio 4 You and Yours, Radio 5 Live, Channel 4, plus numerous local BBC radio stations.
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One Response to Property Prices In Many Towns In England And Wales Are Still 20% Lower Than 2007 Heights

  1. Pingback: Previous Property Price Reports | Kate Faulkner BSc (Econ) MBA DipM CIM

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