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Market Analysis Winter 2010/11 Properties on Market
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Busier period for sales but low demand has an impact
Sales Properties on Market Jan2009 = 100
A 7% pick-up in sales agreed between the three months to August and the three month to November marked the end of the summer slowdown and the traditional recovery. However, low demand from buyers throughout the autumn and early winter has had an impact on the number of sales agreed. Comparing the three months to November in 2010 to the same period in 2009 sales agreed fell 16%, reflecting the year-on-year fall in demand.
Overall prices driven by specific properties
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10.0% Properties on Market
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Prospective New Buyers Annual Change (2010 vs 2009)
Some property types such as flats have seen very little price movement over recent months. However, overall asking prices for properties on Winkworth’s books are rising. This has been driven by strong demand for specific properties. The price of good quality houses continues to grow and it is large houses which are in particularly high demand. These properties are contributing to the rise in overall Winkworth asking prices. (Figure 21)
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Figure 21 Average UK sales prices
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Country
Prospective New Buyers Annual Change (2010 vs 2009)
Lettings Properties Available Annual change 2010 vs 2009
Sales Properties on Market Jan2009 = 100
Robust prime market outside of London
The general feeling outside of London for many Winkworth franchisees has been that the prime property market has remained in relatively good order over the course of 2010. Many offices have suffered the same problem as those in London of falling appraisals in the three months to November and a 14% fall year-on-year. (Figure 22)
Properties on Market
Prospective New Buyers Annual Change (2010 vs 2009)
Lettings Instructions Jan09=100
However, the conversion rate of appraisals to instructions in offices outside of London has risen significantly year-on-year. Figures for the three months to November 2010 show a 14% rise in instructions compared to the same period last year. (Figure 23)
Prime price growth
Tenants Registered Jan09=100
Winkworth’s locations outside London are some of the most sought after in the country with many towns able to offer high standards of schooling, lifestyle, and architectural heritage. As a result, prices have remained very resilient and have grown consistently over 2010. (Figure 24)
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20% 40% 60% 80%
Country - Sales Appraisals Annual Change (2010 vs 2009)
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Figure 22 Country - sales appraisals Annual change (2010 v 2009)
Country - Sales Appraisals Annual Change (2010 vs 2009)
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M
ay- 10
Country - New Instructions to Sell Jan2009 = 100
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Figure 23 Country - new instructions to sell Jan 2009 = 100
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£1,750 £1,800 £1,850 £1,900 £1,950 £2,000 £2,050 £2,100 £2,150
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monthly average sale price (£) Number of Tenants Registered Average Time to Let in Weeks 12 Market Analysis Winter 2010/11
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Figure 24 Monthly average sales price (£)
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monthly average sale price (£)
Lettings Properties Available Jan09=100
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0
Number of Lettings Properties Available
Lettings Properties Available Jan09=100
Lettings Properties Available
Country - New Instructions to Sell Jan2009 = 100
Country - New Instructions to Sell Jan2009 = 100
monthly average sale price (
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