As one of the UK’s leading property specialists with over 50 branches in the South of England, we’ve got the inside track on the market – and our guide will give you some insider tips on how to go about deciphering the property market.
What to look for
When it comes to getting to grips with the prices in your area, it would be worth comparing some of the indices below. You can also get a reasonably good idea of what’s going on by just checking the Land Registry website.
Land Registry: House Price Index (HPI)
This is the government’s own survey and it claims to be “the most accurate independent house price index available.” It is the only survey based on all sales − mortgaged and otherwise (cash only, for example), and on the final price achieved for the property. This HPI is produced both monthly and annually. On the flipside, it doesn’t reflect the prices paid for new-build properties or those that have remained in the same hands for a long period of time.
The vital statistics
Rather than just scanning the HPI headlines that have made it into the newspaper, on the website you can drill down into the specific statistics for the region in which you are planning to buy. You’ll be able to see how the prices have changed both in the past month and in the past year, the most profitable types of property and what the average house price is in your area − giving you a better idea of what your house could be worth.
Rightmove and Zoopla have become essentials in the property world, and it is estimated 90% of all the properties being sold by UK estate agents are advertised on portals such as these. All this information is used to compile a regular breakdown of average asking prices which are compared to the previous month or year. The reports are based on the prices of homes in England and Wales when they’re first listed on the website. The figures are based on the sale prices as would be recorded by mortgage lenders or reported to the Land Registry.
Timing is key
Depending on what the market is doing, you might have stumbled upon the optimum time to buy. Look out for what is happening with prices in the local area; Are there more ‘For sale’ signs going up? Are they turning to “sold” signs within a couple of weeks? It might be the optimum time to sell your home and buy a new one if prices are on the up. If you aren’t sure about the optimum time to sell, we can help with that. Having over 70 years of experience in the market, we know all about the peaks and troughs of the property market and the best times to sell in your area.
We’ll help you make the right move
We understand that buying a property can sometimes be a little overwhelming and that tracking down all the relevant information to make well-judged, informed decisions is time consuming.
We’ve been around since 1946 and our agents are armed with all the very latest real-time data from your area, coupled with unrivalled local insight into supply and demand. Our personal service, attention to detail and specialist knowledge makes us a go-to agent for buyers and sellers alike. Head to your local branchor contact us for more information on everything property.