{"id":3893,"date":"2012-05-03T10:49:25","date_gmt":"2012-05-03T09:49:25","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893"},"modified":"2012-05-23T11:41:18","modified_gmt":"2012-05-23T10:41:18","slug":"property-market-fact-file-may-2012","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893","title":{"rendered":"Property Market Fact File &#8211; May 2012"},"content":{"rendered":"<p><strong>Bank Lending Rate<\/strong><br \/>\nIt has been confirmed that the Bank of England Monetary Committee have decided that the Bank Base Rate is to remain at 0.5% for a further month.\u00c2\u00a0 It has been at this very low level for a record period of over three years.<br \/>\nSource: Bank of England<\/p>\n<p><strong>Mortgage Lending by the Major UK Lenders<\/strong><br \/>\nAccording to initial data from the major UK lenders, (which comprises Banco Santander, Barclays, HSBC, Lloyds Banking Group, Nationwide and Royal Bank of Scotland), total mortgage approvals for house purchase rose from \u00c2\u00a35.1 billion in February to \u00c2\u00a36.1 billion in March. Remortgaging fell, from \u00c2\u00a33.5 billion in February to \u00c2\u00a33.2 billion in March.<br \/>\nSource: Bank of England<\/p>\n<p><strong>Land Registry\u00e2\u20ac\u2122s Property Prices in England and Wales<\/strong><br \/>\nThe Average Price of a property in England and Wales is now \u00c2\u00a3160,372 as at the end of March 2012.<br \/>\nThe Monthly change in March in England and Wales was a fall of 0.6%.<br \/>\nThe Annual change to March in England and Wales was also a fall of 0.6%.<br \/>\nSource: Land Registry<\/p>\n<p><strong>Halifax House Price Index figures.<\/strong><br \/>\nThe average price of a house by the end of March 2012 was \u00c2\u00a3163,803, according to the Halifax House Price Index published 4th April 2012. House prices in March were 2.2% higher than in February, but the quarterly figure showed a 0.1% drop. The seasonally adjusted figures show that house prices are 0.6% lower than at this time last year, measured by the average for the latest quarter against the same period a year earlier.<br \/>\nSource: Halifax<\/p>\n<p><strong>Nationwide House Price Index figures<\/strong><br \/>\nNationwide House Price Index figures published on 3rd May 2012 showed that the average cost of a home in the UK was \u00c2\u00a3164,134 during the month of April. After seasonal adjustment, this is a 2% fall from March, and the annual rate is also down, by 0.9%.<br \/>\nSource: Nationwide<\/p>\n<p><strong>Rightmove House Price Index figures<\/strong><br \/>\nRightmove\u00e2\u20ac\u2122s March survey (published 16th April 2012) shows the asking price of a typical UK property in the period from 11th March 2012 to 8th April 2012 was \u00c2\u00a3243,737, an increase of 2.9% on the previous month. House asking prices are now 3.4% higher than a year ago.<br \/>\nSource: Rightmove<\/p>\n<p><strong>RICS survey overview<\/strong><br \/>\nThe RICS Housing Market Survey for March says that there is a \u00e2\u20ac\u0153firmer tone to price and activity data\u00e2\u20ac\u009d and that \u00e2\u20ac\u0153the better tone to the activity and confidence data remains largely intact\u00e2\u20ac\u009d. The East Midlands and South West regions saw the largest falls in house prices in the quarter to March 2012, and only London saw prices rising.<br \/>\nIn the month of March, Scotland and the North of England had the lowest level of newly agreed sales, whereas the North Midlands had the highest. The North-West had the highest level of new buyer enquiries in the month, while the North had the lowest. The highest level of new vendor instructions was in the North, and the lowest was in Yorkshire and Humberside.<br \/>\nSource: Royal Institution of Chartered Surveyors<\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c February figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports that in February 2012, 36,600 loans were made for house purchase, worth \u00c2\u00a35.4 billion. This is a little higher than January in number (4%), and in value (2%).\u00c2\u00a0 However, these figures are 17% and 20% higher (respectively) than last February\u00e2\u20ac\u2122s figures.<br \/>\nFirst-time buyer loans totalled 14,100, valued at \u00c2\u00a31.7 billion, which is up by 8% in number and 6% in value on last month. However, it is 18% higher in number and 21% in value than last February\u00e2\u20ac\u2122s figures.<br \/>\nThe number and value of remortgage loans rose slightly in the month \u00e2\u20ac\u201c 22,500 loans worth \u00c2\u00a33.7 billion in February. These figures are 2% lower than last month\u00e2\u20ac\u2122s in terms of volume, and 3% lower in value. However, they have increased by 16% in number and 19% by value since last February.<br \/>\nSource: Council of Mortgage Lenders<\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c March estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reports that March\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK is \u00c2\u00a313.4 billion. This is 30% higher than February (\u00c2\u00a310.3 billion), and a 17% rise from last year\u00e2\u20ac\u2122s \u00c2\u00a311.4 billion.<br \/>\nSource: Council of Mortgage Lenders<\/p>\n<p><strong>Regional trends in Rightmove Estate Agents Asking House Prices in England and Wales.<\/strong><br \/>\nRightmove\u00e2\u20ac\u2122s April survey shows the asking price of a typical UK property in the period from 11th March 2012 to 8th April 2012 increased in all areas of England and Wales. The largest increase in asking prices by Rightmove registered estate agents in the period is in the South West, where the average asking price is up 5.8% to \u00c2\u00a3270,735. Greater London had the largest annual increase \u00c2\u00ad\u00e2\u20ac\u201c asking prices are now 7.9% higher than a year ago.<br \/>\nThe smallest increase is 1.5%, which occurred in Wales. Annually, this region had the largest decrease, where the average asking price is down 1.5% on last year to \u00c2\u00a3164,943.<br \/>\nSource: Rightmove<\/p>\n<p><strong>Regional Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in England and Wales.<\/strong><br \/>\nThe Land Registry\u00e2\u20ac\u2122s March survey shows the prices of a typical UK property per region as follows:<br \/>\nThe largest monthly increase was in the North East, which saw an increase over the month of 5.6%, bringing the average house price in the region to \u00c2\u00a3101,676. However, this is 2.8% down over the year.<br \/>\nGreater London continues to show an annual increase in house prices \u00e2\u20ac\u201c at an average of \u00c2\u00a3343,522, it is 0.7% higher than last year but this is 1.8% lower than last month.<br \/>\nThe largest monthly decrease in price is Wales, where the average price is down 4.1% to \u00c2\u00a3113,036, 5.5% lower than a year ago. This is the largest annual price decrease.<br \/>\nSource: Land Registry<\/p>\n<p><strong>Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in England and Wales by County\/Unitary authority.<\/strong><br \/>\nThe Land Registry\u00e2\u20ac\u2122s March survey shows the prices of a typical UK property per county or unitary authority as follows:<br \/>\nThe highest monthly price increase is Anglesey, north-west Wales, where the average price is up by 4.9% to \u00c2\u00a3133,628. This is a small rise of 0.7% over last year.<br \/>\nThe next highest monthly increase is in north Lincolnshire, where prices increased by 4.3% to \u00c2\u00a3107,543 this month.<br \/>\nThe largest monthly decrease in price is also north-west Wales \u00e2\u20ac\u201c Conwy &#8211; where prices fell by 4.9% to an average of \u00c2\u00a3125,100. This same area saw an annual fall in prices to (5.4%).<br \/>\nThe largest annual drop is in Hartlepool, which saw a fall of 13.8% on last year. The Ceredigion region of Wales had the next largest decrease \u00e2\u20ac\u201c 11.8% drop over the year to an average of \u00c2\u00a3152,433.<br \/>\nSource: Land Registry<\/p>\n<p><strong>Rightmove\u00e2\u20ac\u2122s Asking Prices by Property Type <\/strong><br \/>\nRightmove have published figures showing National Asking Prices analysed by property type.<br \/>\nIn the year to 8th April 2012, the average change over all property types is an increase of 3.4%. Flats\u00e2\u20ac\u2122 and apartments\u00e2\u20ac\u2122 prices have not performed well, at a 0.5% decrease over the year. However, terraced properties showed a 1.3% annual increase, semi-detached property asking prices rose by 1.9% over the year, and detached properties did best with asking prices increasing by 3.1%.<br \/>\nSource: Rightmove<\/p>\n<p><strong>Land Registry\u00e2\u20ac\u2122s Average Prices by Property Type <\/strong><br \/>\nThe Land Registry\u00e2\u20ac\u2122s March average price figures analysed by property type show that the prices for all types of property have fallen by 0.6% in the year since March 2011. The average price is now \u00c2\u00a3160,372.<br \/>\nSemi-detached\u00c2\u00a0 properties were the only type to rise &#8211; by 0.4% to \u00c2\u00a3153,080. Terraced properties fell by 0.4% over the year, to \u00c2\u00a3122,075 and Flats &amp; Maisonette properties fell by 0.6% to an average of \u00c2\u00a3149,229. Detached properties fell by the largest amount &#8211; 2.2% to \u00c2\u00a3251,112.<br \/>\nSource: Land Registry<\/p>\n<p><strong>Outstanding Mortgage Debt<\/strong><br \/>\nThe average outstanding mortgage for the 11.2m households who currently have mortgages is estimated at \u00c2\u00a3111,358 in February 2012.<br \/>\nTotal secured lending in the UK on dwellings was \u00c2\u00a31,249 billion at the end of February 2012. This is up from the previous February\u00e2\u20ac\u2122s \u00c2\u00a31,241 billion.<br \/>\nSource: Credit Action<\/p>\n<p><strong>Hometrack Monthly House Price Survey<\/strong><br \/>\nHometrack compile sample data monthly from thousands of Estate Agents in all 2,300 postcodes in England and Wales. The figures are weighted according to postcode, but not seasonally adjusted.<br \/>\nApril\u00e2\u20ac\u2122s figures show that the average amount of time that a house is on the market has now dropped to 9.3 weeks (it was 9.7 in March). Regionally, this ranges from less than 6 weeks in London to nearly 13 weeks in the East Midlands and Wales.<br \/>\nOn average, 93.1% of the asking price is achieved.<br \/>\n13.7% of postcode districts reported a price increase in April, compared to 14.7% in March, and 12.4% of them had a price decrease over the month, up from 9.2% last month.<br \/>\nSource: Hometrack<\/p>\n<p><strong>Latest Property Sales Volumes by price range<\/strong><br \/>\nAccording to the Land Registry, in the year to January 2012, 42,511 sales transactions took place in England and Wales, including 6,253 in London. This represents a rise of 13% and 7% respectively since last January\u00e2\u20ac\u2122s figures, (37,584 and 5,819 respectively).<br \/>\nThe number of sales of properties in the price bracket between \u00c2\u00a31.5 and \u00c2\u00a32 million rose throughout the country &#8211; in London from 63 to 77 over the year (a 22% rise) and in England and Wales from 95 to 104 (a 9% rise).<br \/>\nHowever, in the price bracket \u00c2\u00a31 to \u00c2\u00a31.5 million, the number fell, both in London (by 6% from 171 to 161) and the rest of the country (by 6% from 285 to 268).<br \/>\nAt the lower end of the scale, sales of properties up to \u00c2\u00a3100k rose from last January, by 43% from 54 to 77 in London, and by 8.8% from 6,356 to 6,917 in the rest of England &amp; Wales.<br \/>\nSource: Land Registry<\/p>\n<p><strong>Land Registry Quarterly Sales Volumes<\/strong><br \/>\nIn the quarter from October 2011 to January 2012 (the latest for which figures are available), the average number of house sales per month was 55,661. This is up on the same quarter a year ago, when the average was 52,363 sales per month.<br \/>\nSource: Land Registry<\/p>\n<p>Next Monthly Market Fact File due in early June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank Lending Rate It has been confirmed that the Bank of England Monetary Committee have decided that the Bank Base Rate is to remain at 0.5% for a further month.\u00c2\u00a0 It has been at this very low level for a record period of over three years. Source: Bank of England Mortgage Lending by the Major &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Property Market Fact File &#8211; May 2012&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-3893","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Property Market Fact File - May 2012 - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property Market Fact File - May 2012 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"Bank Lending Rate It has been confirmed that the Bank of England Monetary Committee have decided that the Bank Base Rate is to remain at 0.5% for a further month.\u00c2\u00a0 It has been at this very low level for a record period of over three years. 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Source: Bank of England Mortgage Lending by the Major &hellip; Continue reading \"Property Market Fact File &#8211; May 2012\"","og_url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893","og_site_name":"Property Surveying NEWSLETTER","article_publisher":"https:\/\/www.facebook.com\/PropertySurveying","article_modified_time":"2012-05-23T10:41:18+00:00","twitter_misc":{"Estimated reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893","name":"Property Market Fact File - May 2012 - Property Surveying NEWSLETTER","isPartOf":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website"},"datePublished":"2012-05-03T09:49:25+00:00","dateModified":"2012-05-23T10:41:18+00:00","breadcrumb":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=3893#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.propertysurveying.co.uk\/newsletter\/"},{"@type":"ListItem","position":2,"name":"Property Market Fact File &#8211; May 2012"}]},{"@type":"WebSite","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/","name":"Property Surveying NEWSLETTER","description":"The NEWSLETTER","publisher":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#organization","name":"Property Surveying NEWSLETTER","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#\/schema\/logo\/image\/","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/cropped-property-surveying-logo-for-newsletter-body-1.png","contentUrl":"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/cropped-property-surveying-logo-for-newsletter-body-1.png","width":240,"height":50,"caption":"Property Surveying NEWSLETTER"},"image":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PropertySurveying"]}]}},"_links":{"self":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/3893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3893"}],"version-history":[{"count":0,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/3893\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3893"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Ffolder&post=3893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}