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House Price Forecasts and Predictions in the UK

Checkout this weeks house price forecast here

 

House Price Update 23 January 2012

UK House Prices Situation: Govt figures show regions continue to pay price of boom

UK House Prices Forecast: A shortage of stock means prices won't collapse

Average House Prices Down 0.3%

Average house prices fell by 0.3% over the year to November 2011, according to the latest house price figures from the Department for Communities and Local Government (DCLG).

This minimal figure hides the true picture, which is one of annual falls all UK regions except for London and the East Midlands.

First-Time Pay More, Owner Occupiers Pay Less

The average house price paid by first-time buyers rose by 0.7% over the year to November 2011, according to DCLG figures.

Conversely, prices paid by former owner occupiers fell by 0.7%, a change which the DCLG says reflects the change in average property prices over the year to the end of October 2011.

The DCLG November figures showed that the prices paid by first-time buyers increased by an average of 0.3% in November alone, compared to a monthly fall of 0.1% for former owner occupiers.

New vs. Pre-Owned House Price Divide Expands

The average price paid for a new house increased by 7.7% over the year to November 2011, according to the latest DCLG figures. This provides a sharp contrast to the average price paid for a pre-owned house, which fell by 0.9% over the same period.

New dwelling prices normally follow approximately the same path as pre-owned house prices, but since autumn 2010, new house prices have steadily risen while pre-owned house prices have fallen or stagnated.

This suggests that house builders are finding a way to make money on far lower sales volumes than they enjoyed before the credit crisis.

 

 

 

 


 

 




 





 



 



 

 

 


 

 

 


 

 

 





 

 






 

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