House Prices 2005 vs 2009

SingleSue

Just doing some research on this now and have pulled up some surprising figures.

Average selling price for detached houses is 39% higher than 2003, Semi is -12%, terraced +42%, flats +25%.

Median selling price for detached houses is +42%, semi is -5%, terraced is +28% and flats +54%

Sales are -77% for detached, -53% for semis, -85% for terraced and -78% for flats.

These figures are all for April 2003 to December 2008. So it appears that so far, semis are the hard hit properties in this area.

If we jump forward for the period April 2007 to December 2008, the figures come out as follows :

Average
Detached -11%, semi -33%, terraced +1%, flat -28%

Median
Detached -14%, semi -24%, terraced -6%, flat -20%

Interesting, I tried April 08 compared to Dec 08 and the figures were surprising...and downright scary for some who bought their houses at that time.

Average
Detached -33%, Semi -24%, Terraced +8%, Flat -31%

Median
Detached -19%, Semi -24%, Terraced +8%, Flat -26%

These are for my area so others could be completely different!

So some properties are ducking below 2003 levels but others are still at around 2006 prices.

IveSeenTheLight

SingleSue wrote: »

These are for my area so others could be completely different!

So some properties are ducking below 2003 levels but others are still at around 2006 prices.

Interesting figures Sue and very good that you identify these are for your local area.
You back up the point that locally there can be differences to the UK average and also per property type.
:T :T :T

[Deleted User]

Dan: wrote: »

The answer to your question is simple: In 2005 house prices were higher than 2009.

Where abouts in the South East are you looking? Im from Crawley nr Gatwick Airport and my house is currently at about 2003 levels.

Crawley prices have dropped a fair bit, but up the road in say Redhill/Reigate prices are hardly budging.

Im still strugggling to find evidence of price drops in the areas i like but i know they will come.

Mitchaa; for your info Scotland is probably about a 6months+ behind the rest of the UK, your BTL flat will probably start plummetting soon:D

fc123

mitchaa wrote: »

Would someone like to provide some evidence of areas that are back to 2003 levels please.

No point in just stating it if you cant prove it with some factual evidence, otherwise it's just rambling nonsense:rolleyes:

House prices are down 18% in 18mths.....50/60/70%:rotfl:

In London SE18, I thought I did.
Different area so diff price expectations. Things take a while to filter through up to The North? The prices up there didn't shoot up as quickly as down here?
Perhaps it's the same thing on the way down?

exil

According to the land registry (why is it that no-one has thought to look at this) the average house price in London in Dec 2008 was £307,000 - so about the same as in late 2006.

In my own town (Warrington) it's £150,000 - back to the levels of late 2005. However prices had been flat for the last 3 years whilst London prices rose substantially in 2006 and 2007

IveSeenTheLight

exil wrote: »

According to the land registry (why is it that no-one has thought to look at this) the average house price in London in Dec 2008 was £307,000 - so about the same as in late 2006.

In my own town (Warrington) it's £150,000 - back to the levels of late 2005. However prices had been flat for the last 3 years whilst London prices rose substantially in 2006 and 2007

Look at page 1, I quoted LR and gave a graph from them
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