Market Intelligence Report
Rural House Price Survey England June 2014 House prices cool in Northern towns while rural prices rise to 4-6% annual growth
smithsgore.co.uk
Rural House Price Survey June 2014
Andrew Turner Head of Residential Agency 01904 756303 andrew.turner @smithsgore.co.uk
Annual change in house prices (compared with 12 months ago)
After strong price growth in the provincial markets from Easter till late Spring, the Summer has largely disappointed. The buyers are there, but the mood has changed from verging on the frenetic, to a much more balanced view, as more stock becomes available to satisfy demand. The hope is that this is only a short term lull and September will see the improvements in the market back on track. The rural market has traditionally experienced more seasonal ebbs and flows than urban areas and it will be interesting to see whether the July figures from Land Registry reflect this, or whether the hiatus is more universal.
Annual change in house prices Year to the end of June 2014 >8% 6 to 8% 4 to 6%
Despite the stall in price rises, sales volumes are at their most encouraging level for years, in both urban and rural locations.
2 to 4% 0 to 2% 0% 0 to -2% <-2%
Rural House Price Survey June 2014 Top 20 annual risers and fallers
Top 20 performers
% change
Greater London
16.4
London
Brighton and Hove
10.2
South East
Slough
10
South East
Luton
9.8
East of England
Bracknell Forest
9.7
South East
Rutland
9.6
East Midlands
City of Briston
9.5
South West
Hertfordshire
9.4
East of England
Bedford
8.9
East of England
Cambridgeshire
8.8
East of England
Thurrock
8.8
East of England
Medway
8.7
South East
Wokingham
8.6
South East
South Gloucestershire
8.5
South West
Surrey
8.3
South East
Milton Keynes
8.2
South East
Reading
8.1
South East
West Sussex
8.1
South East
8
East of England
7.9
South East
City of Peterborough Windsor and Maidenhead
Bottom 20 performers West Yorkshire
% change 3.2
Tyne and Wear Torbay
Northern
3
Northern
2.9
Southern
Cornwall
2.9
Southern
Dorset
2.9
Southern
East Riding of Yorkshire
2.6
Northern
Redcar and Cleveland
2.4
Northern
Cheshire West and Chester
2.3
Northern
Middlesborough
2
Northern
Darlington
2
Northern
Herefordshire
1.5
Northern
Merseyside
1.4
Northern
Stockton-on-Tees
1.4
Northern
Wrekin
0.6
Northern
Stoke-on-Trent
0
Northern
-0.2
Northern
City of Kingston Upon Hull
-1.60
Northern
Lancashire
-1.80
Northern
Hartlepool
-5.90
Northern
Blackburn with Darwen
-8.20
Northern
Cumbria
Urban
Rural
Methodology and definitions This analysis of housing markets is based on all residential property transactions made in England and notified to the Land Registry, so typically 50,000 or more transactions a month. Price changes for counties are seasonally adjusted rolling averages calculated using the most robust methodology, called Repeat Sales Regression, to ensure an â&#x20AC;&#x2DC;apples with applesâ&#x20AC;&#x2122; comparison. Regional and England figures are unweighted averages of price changes in the region or country. Definition of rur al and urban areas Urban and rural counties are categorised by the proportion of the population living in rural areas: Urban areas
All rural areas Rural suburban areas
Mid rural areas
Very rural areas
Less than 26% living in rural areas
26 to 44% living in rural areas
45 to 69% living in rural areas
More than 70% living in rural areas
Blackburn with Darwen Blackpool Bournemouth Bracknell Forest Brighton and Hove City of Bristol City of Derby City of Kingston Upon Hull City of Nottingham City of Peterborough City of Plymouth Darlington Greater London Greater Manchester Halton Hartlepool Hertfordshire Leicester Luton Medway Merseyside Middlesbrough Milton Keynes NE Lincolnshire
Bedford Cheshire West and Chester Essex Hampshire Kent Lancashire Leicestershire Northamptonshire Nottinghamshire Redcar and Cleveland Staffordshire Warwickshire West Berkshire West Sussex Worcestershire
Urban areas
Poole Portsmouth Reading Slough South Gloucestershire South Yorkshire Southampton Southend-on-Sea Stockton-on-Tees Stoke-on-Trent Surrey Swindon Thurrock Torbay Tyne and Wear Warrington West Midlands West Yorkshire Windsor and Maidenhead Wokingham Wrekin York
Bath and NE Somerset Buckinghamshire Central Bedfordshire Cheshire East Derbyshire Dorset East Sussex Gloucestershire Herefordshire Norfolk North Lincolnshire North Somerset Oxfordshire Suffolk Wiltshire
Cambridgeshire Cornwall Cumbria Devon Durham East Riding of Yorkshire Isle of Wight Lincolnshire North Yorkshire Northumberland Rutland Shropshire Somerset
Estate Agency Contacts Andover Berwick-upon-Tweed Carlisle Clitheroe Corbridge Darlington Edinburgh Marlborough Oxford Petworth Stamford Stow-on-the-Wold Winchester Wooler York
Fin Hughes Barbara Pentecost Stephen McOwan Justin Swingler Stephen McOwan Melissa Lines John Coleman Edward Hall Harry St John Daniel Clay Annabel Morbey Robert Pritchard Philip Plambeck Patrick Paton Andrew Turner
01264 774900 01289 333030 01228 546400 01200 411046 01434 632404 01325 370500 0131 344 0880 01672 529056 01865 733300 01798 345994 01780 484696 01451 832832 01962 857427 01668 281611 01904 756303
If you would like to discuss housing markets, please contact Andrew Turner on 01904 756303 or andrew.turner@smithsgore.co.uk If you have any questions about the survey, please contact Dr Jason Beedell, Head of Research, on 01733 866562 or jason.beedell@smithsgore.co.uk