Property Stats for the last year
Having a look at House Price Spy for the last year its clear that certain areas of the UK have faired better than others, Wales appears to have been hit hardest with average prices down £10,000 and sales standing at just 700 for a whole year! Englands total sales have fallen from almost 100,000 to just 17,000! Scotland appears to have been the most hardy market with prices unchanged and sales down less than the rest of the mainland.
England – Average price – Sep 07 £230,000 – Aug 08 £224,000
England – Number of sales – Sep 07 93,000 – Aug 08 17,000
Scotland – Average price – Sep 07 £162,000 – Aug 08 £163,000
Scotland – Number of sales – Sep 07 12,00 – Aug 08 4,000
Wales – Average price – £164,000 – Aug 08 £153,000
Wales – Number of sales – 4,000 – Aug 08 700
How long will it take for prices to start to reach the levels they were at during mid 2007? property Insiders are saying it should be 2 to 3 years, but this will depend on what Gordon Brown (or whoever is in charge in 2009) does.
[...] in the middle of a recession when mortgage lending is effectively negative. According to these stats, property sales in England alone have fallen from 100k to 17k. But as one pundit said: It may seem [...]
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