Estate agent haart says the average selling price for its network last month was £203,135 – down 1.1% on August.
The firm says that in London, prices fell 3.3% over the month, taking the average down to £507,967.
However, annual national prices are up 6.9% and in London are up almost 20% at 19.8%.
haart says that prices are up against a backdrop of an increase in supply – in London up 23.1% annually and across the UK by 2.8%.
Buyer demand was up 2.9% on a monthly basis but down 9.2% annually.
We know there are micro-markets everywhere, from place to place and street to street.
But, generally speaking, what do you think?
Comments (3)
I agree with Wilko but we started to level out 2 months ago. All the agents I have talked to are reporting a reduction of new instructions and not as busy as last Autumn. Anything asking £265k has always been hurt by the 3% stamp duty (you can thank gloating John Prescott).
About 2 months too late, but I guess its OK to come out and make a statement after the event to say the even is now happening. Well done haart for riding on the tail coats of other more brave commentators.
I can't see anything wrong with Haarts assessment. The "micro markets" (what a great saying) continue to buck the trend. We all have certain areas and streets that that people will pay top money for, but overall I can't see the market doing much more than "levelling out" in the next 6 months. We still have a big demand for under £250k but nowhere near enough instructions in that range to satisfy demand across many of our areas. Those that have a £250k house and market at £265K aren't getting viewers. Would be interesting to see how others see it at the moment.