Market share by house value

The total number of sales is down, but of equal importance is the change in the ‘mix’ of sales by value. Recent trends have shown that 37% of all properties sold, have been beneath the £250,000 price level. Many of these buyers are first time buyers, with sellers of these properties looking to trade up within the local area. This segment of the market stimulates all other sectors.

During 2008 the number of properties sold under £250,000 fell to 26% during the summer months, however, as the total number of sales has decreased the number of sales of properties valued below £250,000 has stopped declining and remained steady. This has resulted in 58% of all sales in the first 3 months of 2009 being under £250,000.

At the top end of the market only 5% of all sales are now above £1million. This has fallen dramatically from 12 months ago, when 14% of all sales were above this level.