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Does House Price Index Data Provide A Clearer Picture Than The Newspaper Headlines Suggest?

Does House Price Index Data Provide A Clearer Picture Than The Newspaper Headlines Suggest?

Does House Price Index Data Provide A Clearer Picture Than The Newspaper Headlines Suggest?

There can be a great deal of contradiction with the rising number of published House Price Indices, (HPI), that attempt to show the general public what is happening in the UK residential property sales market.

Many Spotlight subscribers are already aware that some of the published House Price Index data provided by mortgage lenders only relate to residential property sales, whilst others relate only to property asking prices.

However, property purchasers are often told to use the official published Land Registry data as a true guide to property prices rather than rely on any house price index data, but Land Registry data is a few months out of date because the Land Registry only record actual completed residential property sales.

Consumers need to know if all the HPI data is anywhere near accurate before they decide to part with cash to purchase a property, and with some degree of disparity between different indices the information provided can be confusing.

However, one thing is becoming very clear – UK property price growth is slowing!

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Advertising Property For Sale

Advertising Property For Sale

Once you have made the decision to put your property for sale on the open market you will need to decide on your marketing strategy. There are various options available in the UK for sellers to consider; do you want to go it alone with a private sale, stick with convention and instruct a local high street estate agent or opt for the middle ground with an internet based agent?

Each option has its pros and cons but no matter which you choose you will need to get the property for sale seen by potential buyers!

For sale boards are a great strategy. Many people consider them old fashioned but they really are a cost effective, simple and efficient way of generating interest in your property. For sale boards will work more successfully for some properties than for others based on two main factors.

Firstly the area, is there good footfall or a high level of passing traffic?
The board needs to be seen in order to work!

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UK Housing Minister Promises No Property Purchasing Reforms

UK Housing Minister Promises No Property Purchasing Reforms

UK housing minister Mark Prisk has stated that the Government has no plan to reform the property buying process in England and Wales.

Answering a question from Welsh Tory MP Alun Cairns in the House of Commons, Mr Prisk, a former chartered surveyor, dismissed any idea that he considered the Scottish system superior.

Mr Cairns asked the Secretary of State for Communities and Local Government (CLG) what consideration the department had given to reforming the residential property purchase system; and what assessment had been made of the same process in Scotland.

Mr Prisk replied that there were no current plans to change the current residential property buying and selling system in England and Wales, where properties are sold ‘subject to contract’.

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