Regional property prices – back to ‘bubble’ growth?
Kate Faulkner’s analysis of the latest property price reports
Average House prices for December 2013/January 2014
How do December’s/January’s prices compare over time?
This month’s figures suggest:-
- The Nationwide reported average property price of £176,491 for January 2014 when compared to previous years is the highest figure since April 2008.
- The Land Registry average price for December 2013 of £167,353 is the highest figure since August 2008.
- Acadadata reported property prices in January 2014 are an average of £241,101 and are now around £12k higher than at the start of 2013.
How do this month’s prices compare to the rest of the year in England and Wales?
See attached pdf for charts and full report
For 2013, we can see from the chart (attached) that the average price trend is now moving upwards.
Average property/house prices in England & Wales from January – December 2013*
- So far last year, ‘average property’ prices for mortgaged properties started off at £ £162,245 in January 2013 and has grown consistently to a height of £176,491 for Nationwide (January 2014).
- Land Registry’s average sold prices (including some cash sales) started at £161,795 in January 2013 and have now reached £167,353 (December 2013).
- Acadadata (January 2014) average property prices for all properties started off in January 2013 at £227,478 and have now reached a high of £241,101.
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 recovering quite strongly – especially for mortgaged properties through Nationwide:-
Read the full version of Kate Faulkner’s Property Market Report including:-
- Kate’s & other Expert Market Commentary
- What’s happening to property prices regionally in December 2013?
- What’s happening in your town in December 2013?
- Property Supply & Demand
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