Whether you are buying your first home or a seasoned buy to let investor, researching what's happening to prices in your town or city before you commit to a purchase, is essential. Read Kate Faulkner's latest detailed towns and cities price report.
The problem with looking at ‘averages’ at a high level is that property prices are so diverse from one street to the next, they are unlikely to make any sense to people locally. As such we look at data by town and city to gauge what variations there are across the country.
Year on year prices changes at town and city level vary from -1.8% to 13.3%
Kate Faulkner’s Market Commentary:
“The data shows that in reality most regions are still seeing property prices below 2007 levels, even though growth is up year on year. What is noticeable is that in the regions still below the peak house price days, property price growth has ‘stuck’ at 2-5% for a year or more now. In London and areas in the South, we saw prices stabilise after the crash, then start to grow up to 5% year on year, and then rise for a good year or more at 15-20%. This pattern seems to be normal from the past - London and the South grow and then the rest of the country ‘catches up’. However, for whatever reason, quite possible down to negative (and often inaccurate) reports about how much it costs to buy a home coupled with an ageing population that is staying put for an average of 18-19 years, it appears this price growth hasn’t yet and may not hit the regions. If this is the case, there are some areas, like Liverpool whose property prices could stay in the doldrums for some years to come.”
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