House Prices Ease Back

October 31st, 2012

hometrackHometrack, the property analytics business, has just released their most recent survey data showing the third month of falling prices.

A brief outline of their findings is given below, which include positive indicators such as an increase in the number of new buyers registering and slight increase in the percentage of asking price being achieved.

Summary

Aug

Sept

Oct
2012

Monthly price change (%) -0.1 -0.1 -0.1
% change in new buyers registering with agents -1.3 -3.6 0.3
% change in volume of property listing 0.8 -0.9 1.4
% change in sales agreed 6.4 -0.4 9.2
Average time on the market (weeks) 9.5 9.9 9.9
% of the asking price being achieved 93.0 93.0 93.2
% postcode districts with price increase
over month
3.6 6.0 5.7
% postcode districts with price decrease
over month
27.1 23.6 31.0

Even with the more positive outlook created by the UK moving back into economic growth in the third quarter of 2012, it is expected the housing market will remain subdued until there is sustained economic growth and an increase in real household incomes.

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