September 2017 - Waymark Property Report

We now have the Land Registry residential property completion prices in for September 2017 so it is time to see how house sales across the Vale of the White Horse have been performing.

The headline for September 2017 is a slight increase in average prices compared to last month but a decline in the sales volume.

Prices

Looking at September 2017 in isolation, the average completion price across all property types of Detached, Semi-Detached, Terraced and Flat/Maisonette is £401,888.  This is the first month this year that the average has passed the £400,000 market and is a 5.29% increase on August 2017.

To get a year on year average price, we analysed the 12 preceding months.  This shows a slight increase in the average price of 1.04% from September 2016 to September 2017 from £378,701 to £382,698.

 Reviewing the average prices by property type, for September 2017, the figures for Detached, Semi-Detached, Terraced and Flat/Maisonette is £598,178, £379,283, £283,515 and £213,089 respectively.

The graph below shows the September movement of prices by property type since 2010.  Detached properties saw the largest increase being 14.51% over the period.

Volume of Completions

In terms of the number of completions for September we see a 60.33% drop from September 2016.  Compared to August’s Property Report, this is a completion volume drop of 18.79%.

Waymark Comment

The two main trends that we have seen for 2017 are continuing.  Namely a continued low level of property sales but a  small rise in total average prices.  These two factors still point towards a good chance of finding a buyer due to reduced competition and every chance that by being realistic, asking prices can be achieved.