The Rightmove House Price Index - April 2009
As the UK Recession continues to take hold of the economy, and more importantly, the population’s confidence, it is always good to see some more positive news, after the constant reports of job losses, house price falls, and High Street inactivity! The talk over recent months has been about how bad the property market is in the UK, and how as a nation of homeowners, we have seen our most prized asset diminish in value! Quite often the reports we see are over exaggerated, and don’t reflect what is really happening, and whilst no one can deny that prices have fallen, the real facts are that we are seeing more optimistic reports from the people that really know the industry, such as Rightmove, and their monthly House Price Indices. Below are some of the key points from the April Report, and many of these points are endorsed by the activity that Kings Group are seeing locally. - 22,000 new sellers per week tempted to the market, up 13% on previous months
- 3rd consecutive monthly increase
- 1.8% increase in average prices on previous month
- -7.3% change on last year – not 25% as reported by some sources
- Greater London outperforming the rest of the UK – down 4.1% on a year ago against -7.3% nationally
To further expand on this positivity, Karl Knipe, Partner at Kings Group says “This is much more optimistic data from Rightmove, and there is no doubt we are seeing more activity from potential buyers. Our applicant and viewing numbers have shown a marked increase on previous months, as buyers are tempted to look for properties at more lower prices.” “ Provided that sellers are realistic about the asking price, now is the time to really start thinking about marketing their properties if they really want to sell, especially as we are seeing this encouraging activity from buyers. Remember that they too can benefit from the lower prices when trading up.” Adds Karl. There is no doubt that Spring is here, and with it a renewed interest in the local housing market. Call Kings for a free and impartial valuation – they are experts at it after all!
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