Property Prices : Britons want more down fall

Recent BBC survey found that more people hoping that property prices to fall than to rise. About 28% participants on the poll responded that property price should fall more, where 22% hoped for an increase.

The BBC’s plll suggests that for some people this negative trend may be welcomed. In addition, nearly half of those asked said they wanted house prices to stay the same.

According to the UK’s largest lender, Halifax, in April average house prices fell by 1.3%. It contributed to the first year-on-year drop since February, 1996.

In recent House Price Index report by Landregistry.gov.uk clearly shows that high flying property investers are keeping themselves safe not investing in large investments. The number of properties sold in England and Wales for over £1 million decreased by 15 per cent between January 2007 and January 2008, from 538 to 457. Again in London, the number of properties sold for over £1 million decreased most, 24 per cent - between January 2007 and January 2008, from 323 to 245.

Sales Volumes by Price Range ( England and Wales)

Price Range (£)	January, 2008	January, 2007	Difference
Under 50,000	588	977	-40%
50,001 – 100,000	7,046	11,690	-40%
100,001 – 150,000	13,119	22,852	-43%
150,001 – 200,000	11,154	19,897	-44%
200,001 – 250,000	8,728	13,831	-37%
250,001 – 300,000	3,479	5,533	-37%
300,001 – 400,000	4,448	6,453	-31%
400,001 – 500,000	2,137	2,968	-28%
500,001 – 600,000	810	1,098	-26%
600,001 – 800,000	870	1,217	-29%
800,001 – 1,000,000	385	477	-19%
1,000,001 – 1,500,000	277	316	-12%
1,500,001 – 2,000,000	86	116	-26%
Over 2,000,000	94	106	-11%
Total	53,221	87,531	-39%

Sales volumes by Price Range ( London )

Price Range (£)	January, 2008	January, 2007	Difference
Under 50,000	-	-	n/a
50,001 – 100,000	22	83	-73%
100,001 – 150,000	411	901	-54%
150,001 – 200,000	1,136	2,470	-54%
200,001 – 250,000	1,900	3,131	-39%
250,001 – 300,000	965	1,423	-32%
300,001 – 400,000	1,330	1,881	-29%
400,001 – 500,000	705	943	-25%
500,001 – 600,000	283	398	-29%
600,001 – 800,000	332	469	-29%
800,001 – 1,000,000	181	220	-18%
1,000,001 – 1,500,000	135	169	-20%
1,500,001 – 2,000,000	48	76	-37%
Over 2,000,000	62	78	-21%
Total	7,510	12,242	-39%

Though price is falling every month, economists still believe still there is a shortage of supply against the growing number of demand will stop in the down fall very soon.

Sources:
House Price Index, April 2008
House price fall ‘welcomed by many’

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!