Too much optimism in UK real estate market, property intelligence group warns
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Residential property prices in the UK are slowing and the general health of the market is overstated, it is claimed.
According to the latest index from property intelligence group Hometrack prices increased 0.1% in January as the market began to show signs of slowing down. The average time a property took to sell also increased for the first time in a year, rising to 8.6 weeks, compared with 8.3 weeks in December.
The index also shows a fall in both the number of new buyers and the number of sellers coming to the market in England and Wales during the month, while there was also a drop in the level of sales agreed.
The figures contrast with ones reported by Nationwide last week, which showed house prices across the whole UK jumped by 1.2% in January.
But the Hometrack report raises a number of issues that are important for the real estate market. Prices are rising in just 7.6% of postcode areas that are concentrated in the south of England creating a bigger regional divide.
The index also shows a fall in both the number of new buyers and the number of sellers coming to the market in England and Wales during the month, while there was also a drop in the level of sales agreed.
The figures contrast with ones reported by Nationwide last week, which showed house prices across the whole UK jumped by 1.2% in January.
But the Hometrack report raises a number of issues that are important for the real estate market. Prices are rising in just 7.6% of postcode areas that are concentrated in the south of England creating a bigger regional divide.
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volatile 2010 I didnt mention the word small in my comment ! click on the "source" button to see who "published" the report LAND IN RANGSIT This is very un accurate report rental property- tenants not told of foreclosure-pending sale Apply for one of these 1 Euro houses www.PropertyMarket.eu World Capital Markets
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