LETTING & ESTATE AGENT

Current market conditions for sales

Current market conditions for sales

The press is awash with reports from The Halifax, Nationwide etc all shouting loudly that house prices are rising. This is good news for us all and has injected a sense of urgency into the sales market.  With the extra mortgage lending and first time buyers’ returning, the market is buzzing with activity. However, if the data regarding house prices is scrutinised further then a more realistic view is found. The building societies reports are based upon mortgage approvals, not completions, and we feel that this information is misleading if not flawed. They also include London transactions that can skew the statistics. The correct information is found at Land Registry which reports upon sales completions. Hinckley prices dropped in the first six months of this year, but bounced back in July with a 2% increase. Averaged out and year to date the house prices in our town have increased by 0.5%.  It’s all good news.