Is the housing market in Locks Heath picking up?
By TinaGarner | Monday, February 15, 2010, 17:30
Is the housing market in the Locks Heath area finally picking up in 2010?
Average final sale price of a semi-detached house in Locks Heath area (SO31)
According to a report from the National Association of Estate Agents, shown on the FindaProperty website, last month showed a rise in first time buyers from 19 percent of the market in December 2009 to 23 percent in January 2010.
It also reveals that the number of house-hunters registered per branch of estate agents has increased by 20 percent in the last year - from 242 in January 2009 to 291 in January 2010. Also the number of properties for sale per branch has decreased slightly from 59 to 55, possibly reflecting the increase in sales.
However figures for the ‘average national house prices’ mean little when you are already a homeowner, or are searching for a home in a particular area. So what has been happening in the Locks Heath area over the last 10 years?
I have looked at the monthly FindaProperty.com House Prices and Affordability Index, which tracks the trends in supply and property prices using statistical methodology developed by Calnea Analytics (who also produce the official Land Registry house price index).
The graph I produced from this shows the average final sale price of a semi-detached house in Locks Heath (postcode SO31) from 1999 until 2009. The average price of a semi-detached house in Locks Heath in 2009 was £200,121 compared to £218,785 in 2008. The lowest average price over the last 10 years in Locks Heath was back in 1999 when the average semi-detached house was selling for £93,513.
The average final sale price across all Locks Heath properties (detached, terrace, flats etc) last year was £244,549 (calculated from FindaProperty values) - significantly higher than the national average final sale price of £162,116 but only slightly less than the average for Hampshire, which was £262,691 (from the WheresMyProperty website).
Thanks to the powers of the Internet we can play with the numbers to our heart’s content.
What do you think?
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