{"id":598,"date":"2010-04-16T12:33:33","date_gmt":"2010-04-16T11:33:33","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=598"},"modified":"2010-04-21T09:42:41","modified_gmt":"2010-04-21T08:42:41","slug":"property-market-fact-file-april-2010","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=598","title":{"rendered":"Property Market Fact File &#8211; April 2010"},"content":{"rendered":"<p><strong>Average Property Prices in England and Wales<\/strong><\/p>\n<p>The Average Price of a property in England and Wales is now \u00c2\u00a3164,455 as at the end of February, 2010<\/p>\n<p>Source: Land Registry<\/p>\n<p><strong>Percentage Changes of Property Prices in England and Wales<\/strong><\/p>\n<p>The Monthly change between February and March in England and Wales was -0.3%.<\/p>\n<p>The Annual change between February and March in England and Wales was 7.0%.<\/p>\n<p>Source: Land Registry<\/p>\n<p><strong>Inflation Figures released for March 2010.<\/strong><\/p>\n<p>The Consumer Prices Index, which is used by the government to measure the annual inflation rate, rose to 3.4% last month (March). It was 3% in February. The increased price of petrol and diesel, and the knock-on effects of this on other sectors, is blamed for the increase. Also, the bad weather in January forced the price of certain produce up, as some vegetables became more scarce as a result.<\/p>\n<p>Source: Office for National Statistics 20\/4\/10<\/p>\n<p><strong>Bank Lending Rate<\/strong><\/p>\n<p>Bank of England Monetary Committee confirmed that the Bank Base Rate is to remain at 0.5% for a further month.\u00c2\u00a0 Stayed at this level now since 05<sup>th<\/sup> March, 2009<\/p>\n<p>Source: Bank of England<\/p>\n<p><strong>Gross Mortgage Lending increases.<\/strong><\/p>\n<p>The Council of Mortgage Lenders have published data which shows that gross mortgage lending in the UK was approximately \u00c2\u00a311.5 billion in March, which is up by 24% on February, when it was \u00c2\u00a39.3 billion.<\/p>\n<p>Source: Council of Mortgage Lenders. 19\/4\/10<\/p>\n<p><strong>Mortgage Lending by the Major UK Lenders<\/strong><\/p>\n<p>House Purchase Lending increased to \u00c2\u00a35.6 billion as against \u00c2\u00a33.4 billion in February 2009.\u00c2\u00a0 Still lower than \u00c2\u00a37.2 billion in February 2008.<\/p>\n<p>Source: Bank of England<\/p>\n<p><strong>Outstanding Mortgage Debt<\/strong><\/p>\n<p>Average outstanding mortgage for the 11.1m households who currently have mortgages now stands at \u00c2\u00a3111,612.<\/p>\n<p>Source: Credit Action<\/p>\n<p><strong>Homes Repossessions<\/strong><\/p>\n<p>Total house repossessions in 2009 total 46,000.\u00c2\u00a0 Significantly fewer than expected at the start of the year but 15% higher than the 40,000 repossessed in 2008.<\/p>\n<p>Source: Council of Mortgage Lenders<\/p>\n<p><strong>New Mortgages granted<\/strong><\/p>\n<p>The number of new mortgages taken out was 35,000 in February 2010, up by 12% on January, and 49% on the same time last year.<\/p>\n<p>Source: Council of Mortgage Lenders<\/p>\n<p><strong>RICS survey overview.<\/strong><\/p>\n<p>The February house price data painted a mixed picture. Both of the lender indices showed house prices falling again, with the Nationwide index down by 1% on the month and the Halifax index down by 1.5%. Land Registry data for England and Wales showed a more modest 0.3% fall. By way of contrast, the Acadametrics index suggests that house prices actually increased by 1.9% on the month.<\/p>\n<p>Source: Royal Institute of Chartered Surveyors<\/p>\n<p><strong>Halifax House Price Index figures.<\/strong><\/p>\n<p>House prices increased by 1.1% in March, partly offsetting February&#8217;s 1.6% fall.\u00c2\u00a0 This was the eighth rise in the past nine months, taking the average price to 9.1% above the low point reached last April.<\/p>\n<p>Source: Halifax<\/p>\n<p><strong>Nationwide House Price Index figures<\/strong><\/p>\n<p>The price of a typical UK property rose by a seasonally adjusted 0.7% month-on-month (m\/m) in March, largely reversing the 0.8% m\/m fall measured in February. The smoother quarter on quarter rate of inflation edged down further from 1.8% in February to 1.6% in March. At \u00c2\u00a3164,519, the average price of a typical property is 9.0% higher than a year earlier.<\/p>\n<p>Source: Nationwide<\/p>\n<p><strong>Regional trends in House prices.<\/strong><\/p>\n<p>Largest increase is in the North of England, where the average price was up by 6.6% in February to \u00c2\u00a3149,704. (5.1% up on March 2009)<\/p>\n<p>Largest decrease is in London, where the average price is down by 2.5% in February to \u00c2\u00a3417,461 (but still 4.4% up on March 2009)<\/p>\n<p>Source: Rightmove<\/p>\n<p><strong>Staying Local ?<\/strong><\/p>\n<p>43.4% of those moving house, stay in the same postcode area.<\/p>\n<p>The most popular areas include Bristol, Brighton and Bournemouth at over 60%<\/p>\n<p>Source: Reallymoving.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Average Property Prices in England and Wales The Average Price of a property in England and Wales is now \u00c2\u00a3164,455 as at the end of February, 2010 Source: Land Registry Percentage Changes of Property Prices in England and Wales The Monthly change between February and March in England and Wales was -0.3%. The Annual change &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=598\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Property Market Fact File &#8211; April 2010&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-598","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Property Market Fact File - April 2010 - 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=598\" \/>\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 - April 2010 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"Average Property Prices in England and Wales The Average Price of a property in England and Wales is now \u00c2\u00a3164,455 as at the end of February, 2010 Source: Land Registry Percentage Changes of Property Prices in England and Wales The Monthly change between February and March in England and Wales was -0.3%. 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