Housing Market Overview

Housing Market Overview
Prepared 14.11.2013
This document provides the latest information available from various sources,
with dates varying from August 2013 - October 2013
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Contents
Market overview
4
Summary of published stats
5
UK annual house prices – rate of change
6
Regional all dwellings annual house price – 12-month % change
7
Annual house-price rates of change by types of buyer
8
UK annual house-price rates of change: type of dwelling
9
Number of housing transactions per month
10
Monthly change in house prices – comparison of indices
11
Median (typical) time on market
12
% asking price achieved
13
Sales volumes by price range (England & Wales)
14
Long-term real house-price trend
15
UK house price to earnings ratio
16
Average properties for sale per estate agent
17
National asking price trend by property type
18
Market Overview
Sources: Nationwide, Halifax, Hometrack, Home.co.uk, Rightmove Surveys & House Price Indices
According to Nationwide, house prices increased by 1.0% between October and September, and are 5.8% higher when
compared with October 2012. A typical UK home is now worth £173,678.
Hometrack figures show that the proportion of asking prices being achieved stands at 95.2% a slight increase on last
month’s figure of 94.7%.
Home.co.uk reports that the total number of properties for sale in England and Wales has dropped by 18% in the last twelve
months, as demand overwhelms supply. This supports last month’s Rightmove statistic which highlights that 96,330
properties were actively being marketed – the lowest figure since February 2013.
According to Rightmove.co.uk, the typical (median) time on the market now stands at 85 days in October (around three
months) – a marginal increase on last month’s figure (83 days), although there are still considerable regional differences.
Compared with October 2012, home.co.uk says that the typical time on the market has fallen across every English region,
Scotland and Wales.
Demand is already outpacing the overall supply of properties for sale, and pushing prices upwards reports home.co.uk. The
growth in cheaper borrowing is feeding this demand and the Help to Buy scheme is likely to worsen the growing supplydemand imbalance.
4
Summary of published stats
Source: Housepricecrash.co.uk
Period
covered
Average
house price
Peak average
house price
Official releases
Aug 13
£247,000
0.50
3.80
£247,000
(Aug 13)
15/10/2013
Sept 13
£235,534
0.50
3.80
£235,534
(Sept 13)
11/10/2013
Halifax House Price
Index
Oct 13
£171,991
0.70
6.90
£199,770
(Aug 07)
06/11/2013
Home.co.uk (England
and Wales)
Oct 13
£246,067
0.10
5.50
N/A
15/10/2013
Hometrack – House
Price Survey
Oct 13
N/A
N/A
28/10/2013
Land Registry Monthly
Report
Sept 13
£167,063
1.50
3.40
£186,045
(Jan 08)
28/10/2013
Nationwide House Price
Index
Sept 13
£173,678
1.00
5.80
£186,044
(Oct 07)
31/10/2013
Rightmove House Price
Index
Oct 13
£252,418
2.80
3.80
£259,199
(Aug 13)
21/10/2013
Source website
Office for National
Statistics
House Price Index
LSL Property
Services/Acadametrics
Monthly change
(%)
•
0.50
Annual change
(%)
N/A
5
UK annual house prices – rate of change
Source: Office for National Statistics House Price Index
6
Regional all dwellings annual house price – 12-month % change
Source: Office for National Statistics House Price Index
7
Annual house-price rates of change by types of buyer
Source: Office for National Statistics House Price Index
8
UK annual house price rates of change: type of dwelling
Source: Office for National Statistics House Price Index
9
Number of housing transactions per month
Source: LSL Property Services House Price Index (Acadametrics)
10
Monthly change in house prices – comparison of indices
Source: LSL Property Services House Price Index (Acadametrics)
11
Median (typical) time on Market
Source: Hometrack House Price Survey
12
Asking price achieved
Source: Hometrack House Price Survey
13
Sales volumes by price range (England & Wales)
Source: Land Registry House Price Index
14
Long-term real house-price trend
Source: Nationwide House Price Index
15
UK house price to earnings ratio
Source: Nationwide House Price Index
16
Average properties for sale per estate agent
Source: Rightmove House Price Index
17
National asking price trend by property type
Source: Rightmove House Price Index
18