Too much optimism in UK real estate market, property intelligence group warns
|
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.
Categories
Industry News Consumer News The Housing Crisis Commercial Property Loans & Financing Taxes Insurance Legal News Agents & Brokers Developers Contractors & Builders Projects & Investment Building & Improvement Hotels & Resorts Property Management Commentary & Analysis Property Shows & Events Green Building Architecture & Design Luxury Property Home & Garden Vacation Homes United States Canada United Kingdom Europe United Arab Emirates Middle East Israel India Australia & New Zealand China Hong Kong Singapore Japan South Korea South East Asia Central & South America South Africa North Africa Video
Latest Articles
Bangkok property - top tipsBuying property in BangkokBuying condos in Bangkok - Condo buyers guideBuying houses in Bangkok - house buyers' guide42% of Caspian’s units snapped upIs it time for a Correction in the Phuket Property Market?Phuket’s Taj Exotica makes genuine startKanda plans two residential projectsDevelopers add community flavourChone Sophonpanich enters realty
Tags
Newsletter
Get each new article from
Estates Report
Your email:
