The first in-depth analysis of property asking price launched by Home.co.uk; creator of Britain's most comprehensive property search. Based on their massive nationwide Search Index, Home.co.uk now provides previously unavailable figures that will really help users gauge the property market in 1000's of towns and cities across the UK.
Home.co.uk, the UK's leading innovator in property search technology, marks their tenth anniversary in 2006 with the publication of local property market statistics; the first such analysis of current house asking prices for the UK. This valuable information gives buyers and sellers a detailed 'snapshot' of the current online property market for any given town or city.
For Homebuyers, planning to move locally or further afield, it can be very difficult to get an overview of the current housing market. Whilst many buyers diligently research historic sale price data, now made available by HM Land Registry, it must be understood that all such data bears little or no relation to the current property market. By analogy, historic share price dealings are not useful indicators of current value. Even the most up-to-date data sourced from the HM Land Registry is, at best, several months behind the current market trend because of the lengthy house selling process. Moreover, open market asking prices do not take into account selling practices such as sales though auction, nor 'behind the scenes' practices which distort historic transaction figures, such as 'seller pays the deposit'. This is a hidden practice on the increase and sometimes suggested by estate agents, to encourage first-time buyers who might have difficulties producing a deposit.
To cut through the confusion, UK's most comprehensive online property search engine, Home.co.uk, has produced a detailed analysis of current property asking prices by town and postcode, published daily and covering most of the UK
Extensive analysis of every property in the Home.co.uk Search Index gives users an up-to-date breakdown of local asking price statistics. Users can search by town and postcode to find statistics on the number of houses in different price brackets, and how prices vary with the size (number of bedrooms) and type of property (detached, semi-, terraced etc.). Armed with this information buyers will be able to tell, whether or not, a property is sensibly priced and therefore how much to offer. Home.co.uk suggests that buyers and sellers bear in mind that it is widely understood that on average actual sale prices are around 90% of asking prices, but this will vary for any individual property.
With the largest current house price database in Britain, Home.co.uk can provide more meaningful figures and more in-depth analysis of current property prices than any other source, thus giving valuable local property market information previously unavailable to home buyers and sellers.
Over the coming weeks, the service will be expanded to bring Home.co.uk users further analysis, including trends in local asking prices to help them get a good feel for the market and make the right decisions.
"We believe this is a first for the UK property market with regards to current asking prices" says Doug Shephard, Home.co.uk's Business Development Director. He continues , "We will extend the functionality to include graphs and trends in the near future."
For more information please visit http://www.home.co.uk/guides/house_prices_by_town.htm
Notes for EditorsOver the last 22 years, Home.co.uk has become established as a dynamic, innovative and ethical service. By providing the UK's most comprehensive Property Search and Estate Agents directory coupled with detailed House Price analysis, Home.co.uk delivers the real power of the Internet to inform and empower estate agents, homebuyers, renters, landlords and sellers in across the UK.
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