Over the last twelve months we’ve seen pretty strong performance in the local market. We wanted to see how different property types have performed, so we indexed the values at the start of the period. Property data updates quite slowly, so we’ve estimated the last 3 months.
This chart nicely reveals how sales levels have played out over the last seven months in our area. We’re looking at a relatively tight area over relatively short periods of time, so you don’t get the nice smooth patterns you’d see using annualised analyses or at higher levels of geography. The patterns however, are very revealing.
Has someone who has just sold their home ever told you about the ‘golden rules’ you should abide by to get a quick sale? Perhaps you have heard comments like, ‘catch the property season’, ‘spend money to make money’ and ‘price high and accept low’. Unfortunately, achieving the optimum sale requires you to navigate highly changeable market conditions.
Lifecycle profile is a useful indicator of the complexion of residents in a locality. Some areas, like inner cities and built-up areas, have lots of young single people who live in flat shares or alone. Most of the suburban parts of the country are filled up with families. Some parts have a large elderly population, particularly around the coast.
We’ve used a donut chart (excuse the American spelling) to illustrate the mix of properties that have sold in the last 12 months. Given the profile of the housing stock in the area, there’s nothing too surprising here, but it’s interesting to see how the different types of properties are represented in the local market.
The average unweighted sold prices of houses and flats have generally seen a steady incline over the last eight years. It’ll come as no massive surprise the houses are typically more expensive than flats but, the movements over time are nonetheless telling.
How often we commute to the office and how long it takes each day has major implications on where we all choose to live. While the ever-increasing use of technology has made it easier to work from home, most people living in Britain still take part in the ‘daily grind’, with a staggering three-million commuters now spending more than two hours to get to work.
The profile of jobs is an important yardstick for the makeup of people in a housing market. In this analysis we’ve used data from the Office for National Statistics on the number of people in the local area who work in each industry. The categories are a bit vague but if you look at the longest bars, you can see a pretty good profile of our area.
The data for our area over the last five months reveals interesting fluctuations across property types. The last 3 months are coloured with stripes. This is because the data is still coming in so we’ve estimated what we think they will be when all the data is available.