House Price Spy Blog

Any ideas of a quick fix to enconomy look to be over, no matter what the government say we are still plumbing the depths of recession with years to wait before the good times return.

Property prices in the UK have recovered from a 14% deficit on 2007 prices by around 9% but many reliable market insiders are predicting another fall in prices for 2010. With many homeowners staying put, the stamp duty legislation changes and the finances of the country not recovering quite as fast as had been hoped the market is set to see a drop in average house prices.

Average prices have fallen already by 1% and with the usual slump in prices at the turn of the year and the associated drop in mortgage approvals it may be the summer of 2010 before we see any progress on the economy. There are fewer buyers with less money to spend and reduced borrowing potential.

With many lenders creeping back to their old ways of granting 90% mortgages etc are we seeing the strong fiscal leadership we were promised by the FSA and Government?

Mortgages.co.uk lets you have an instant comparison on all the best mortgage deals on the market without brokers fees or forms to fill in! Compare all the best deals instantly, the Mortgages.co.uk specialist team will hunt down the best deals after you fill in one short online form. It just takes a few seconds!

Let finance specailists and the power of the web save you large amounts of cash! You cant lose with no fees and all the leading lenders taking part! As the largest cost you will have in your life it pays to get the best deal you can with all the information at your finger tips!

All types of mortgage are covered and you can pick the terms you want to get the best deal! Take a few seconds to see how much you save!

Start saving on your mortgage or re-mortgage Mortgages.co.uk

As you can see from House Price Spy property prices are holding 2009 prices with slight regional rises, but it is the number of sales that show an alarming drop. English sales have fallen from 58,000 in October to 18,000 in 2010. This emphasizes the weakness of the recovery, the price rise/hold is extremely fragile with big changes possible in a short time frame.

With the big winter freeze set to end in the next few weeks will we see reluctant buyers venturing out? Prices might even fall when the market picks up, the price stability is linked to an artificially low number of sales, new build and sitting tenants.

With billions pumped into the economy have we really seen enough of any effect? With Greece being the latest country to call in the IMF, are we much better? By many important indices we are worse off than: Spain, Portugal, Greece and Ireland.

House prices have risen for the sixth month in a row, plus consumer confidence has risen in according to many important indices. The Bank Of England is planning an end to devalation of the Pound Sterling, with £200 BN already pumped into the UK economy in the last year or so. Gross Domestic product rose by 0.1%, overseas orders represent a large part of that amount.

The average house price rose by 1.2% in the last month leading many to say that the recession would be on its last legs, unemployment has bottomed out and consumers find themselves to consider the glass half full rather than half empty.

With tax hikes projected by all major political parties and banks recouping their losses this may not be the time to celebrate just yet, we will feel the pinch during 2010 whatever happens but the worst appears to be over unless you live in areas with closing factories and manufacturing.

The average price for UK homes rose around 1.1% in January 2010, and the latest batch of predictions are that we can expect a 6% total rise during this year. Add to that the fact that commercial properties rose by 3% in December and you have a quite upbeat prediction on where house prices, and therefore the economy in general, will tend to in 2010.

House Price Spy lets you keep up with what your local house prices are doing, or indeed an postcode in England, Scotland and Wales in the last 10 years from official government data. There are no limits on use and you get alerted about any sales in areas you are interested in plus a personalised members statistics system which lets you view, print, compare and keep all sorts of data!

House Price Spy is 100% free and updated monthly with official government data!

With the coldest winter in may years still with us you might be feeling the pinch in your pocket with energy prices rising on many providers in the UK, Energy Helpline promises to save you up to £400 per year on your utility bills! Thats more that £1 per day just for checking which providers work in your area and which can save you money! After that there is a choice to make but you have all the details in front of you, you can make an impartial decision and then there is no paperwork to fill in! The switch is made online!

Lazyness about switching earns the leading utility companies billions of pounds in the UK alone with many too busy or stuck in their ways to change, once you have changed you can change for free as many times as you want! No equipment changes, salesmen calling, paperwork to fill in or time wasted just a proven year on year saving on your bills!

Energy Helpline is 100% impartial and covers the whole of the UK, as the decade go on this is only going to get more and more important for every householder in the UK!!

Save up to £400 with Energy Helpline today!!

Looking at the newspapers today its clear that there are signs of an upturn in the UK’s financial situation, the Pound is UP against the dollar and other currencies and more importantly new home build numbers are well up on the last few months. Taylor Wimpey and Barratt Homes both show rising numbers of sales, with a record low in sales (at just a third of 2007 levels) this may actually boost the property market.

The actual forecast for house prices is ‘flat’ for 2010 and the medium future, slow rises and small gains rather than any rapid recovery. No surprises there, there were plenty of predictions of doom in the finance sector prior to 2007. Prices rising year on year was just unsustainable, adding 60% to the value of a home in 10 years…

Anyway we will see a more gradual rise in 2010. House Price Spy is a 100% free service that offers you a easy to use way to keep abreast of what is happening in the market with stats, alerts, advice and much more!

As you can see from House Price Spy the gains that have made us all forget our money woes are based on a tiny number of sales and in fact are based on a third of the total number of sales (17,000) than just a couple of months ago. Prices themselves have slightly fallen on average but holding steady. Anyone predicting a rapid recovery will be out of luck, as indeed will anyone who needs to move home during 2010.

Are there hundreds of people waiting to sell? Will there be a spring thaw of prices, seeing sales hit the roof? How will the government unlock the combination that will see the market come to life again? The finance sector is still recovering, with billions of pounds put back into the economy by the Bank Of England and consumer confidence fragile. Taxes and prices are set to rise rapidly in 2010 and the public will shoulder this burden, how will the BOE and government address this?

2010 will certainly be one of change, an election, ISA legislation and various property related bills moving through the Houses.

The Bank Of England have held the mortgage rate at 0.5%.

This rate has been in place since March of last year and is the lowest in recent memory. With the media full of stories about the revival of the financial sector this is unlikely to be changed with all main political parties commencing their election push for summer 2010 the heat will be on to make the finances of the country look as good as possible by the government.

The economy will be the leading vote winner no doubt about it, despite job losses house prices have recovered considerably and consumer confidence is returning.

The phrase ‘quantitative easing’ has entered the public awareness, £200Bn has been added to the UK economy and the opinions are mixed as to whether the impact will sufficient for the money invested. A similiar effort in Japan was judged to be unsuccessful.

2010 is here and once again we will be concerned with house prices and which direction they will be going in, either recovery to 2007 levels or further downward. Just for a change House Price Spy will give you the most festive prediction yet:

Savills the estate agents are predicting a huge long term price rise of 40% in the next few years creating an average property price of £280,000 from the current £200,000. Prices rose by around 68% in the last 10 years before the fall, and Savills are predicting a 6% rise year on year driven by economic recovery and the lack of new build property. With the lull in the building we are not expecting a change to this factor over the next few years, which will be good for home owners. It should be noted that Savills are an estate agent and its their job to promote the market!!!

As with all the predictions this one is based on pre-election conditions, with the campaigning already underway for a summer election it is easy to prodict that everything will change by the end of the year and whoever is in charge will change legislation pertaining to property and finance. And while we are on the subject why are no two predictions ever the same? Every financial and property prediction is made to get attention for the paper/site/company involved as much as anything so its no surprise they are all different!