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Land Registry Price Index
Date: 01/08/2009
Following the Land Registry house price index released this week, the Land Registry has now joined all the other major house price indices in recording a slowdown in annual price falls. Whereas mortgage approvals and asking prices have increased variably throughout the market for some months now, on a month-by-month basis, the first recorded monthly increase by Land Registry in June provides evidence of a price floor being reached at a more visible 'street' level, with re-sale values now appearing to hold.
While few people expect a swift return to robust positive price growth, the figures offer another encouraging sign that the sustained price decline has abated, and that overall house prices can remain supported at their current level. From this point on, any improvements in mortgage affordability could see a return to tentative upward price growth.
The supply/demand imbalance has already returned in some parts of the country. Land Registry's latest figures show strong positive price growth in London in June, supporting wide scale reports from local agents of increasing buyer registrations and insufficient levels of stock to meet growing demand in the capital.
CLIFFTONS in Bournemouth have seen a dramatic increase in sales and buyer activity. The owner of CLIFFTONS, James Scollard comments "It's positive news for the local property market in Bournemouth, it's too early to say though which way prices will go. It is however, a great time to be looking to upgrade your property due to the gap being a smaller amount.
When it comes to selling, renting or buying property in Bournemouth, call CLIFFTONS Estate Agents on 01202 789699.
Following the Land Registry house price index released this week, the Land Registry has now joined all the other major house price indices in recording a slowdown in annual price falls. Whereas mortgage approvals and asking prices have increased variably throughout the market for some months now, on a month-by-month basis, the first recorded monthly increase by Land Registry in June provides evidence of a price floor being reached at a more visible 'street' level, with re-sale values now appearing to hold.
While few people expect a swift return to robust positive price growth, the figures offer another encouraging sign that the sustained price decline has abated, and that overall house prices can remain supported at their current level. From this point on, any improvements in mortgage affordability could see a return to tentative upward price growth.
The supply/demand imbalance has already returned in some parts of the country. Land Registry's latest figures show strong positive price growth in London in June, supporting wide scale reports from local agents of increasing buyer registrations and insufficient levels of stock to meet growing demand in the capital.
CLIFFTONS in Bournemouth have seen a dramatic increase in sales and buyer activity. The owner of CLIFFTONS, James Scollard comments "It's positive news for the local property market in Bournemouth, it's too early to say though which way prices will go. It is however, a great time to be looking to upgrade your property due to the gap being a smaller amount.
When it comes to selling, renting or buying property in Bournemouth, call CLIFFTONS Estate Agents on 01202 789699.
