Musings of a London Proerty Search Agent
House prices in the South East have been particularly flaky in recent months but April statistics released on Friday from the Land Registry brought good news on the face of it, showing house prices up 0.5% month on month. Average house prices in the South East are up 4.1% since April 2007.
UK property anoraks will be aware that South East prices have oscillated in recent months as can be seen below:
2007 August + 0.78%
September + 0.26%
October + 0.58%
November + 0.32%
December – 0.31%
January + 1.00%
February – 0.28%
March – 1.41%
April + 0.47%
As you can see from the figures above, the drops are far from the 10-20% slide reported in much of the press. In fact since prices started to stall, the net decrease is 0.45% which amounts to a drop of £1,031.80p off the average house price in the South East, which we think most sellers could live with. Perhaps the most important statistic is the fact that according to the Land Registry, since the credit crunch started in August 2007, average house prices in the South East have risen 1.45%. Now isn’t that good news?
Buyers are down 50% in many areas, but while most people expect a bargain these days, sometimes buyers will still pay more than they need to for the home they fall in love with. If you don’t want to be one of those buyers – call us London Property Search Agent on 020 7923 7564 or look at our website by clicking the links above or here:
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