The profile of car ownership is a great signal of the practical needs of residents in a local market. Most households have a car, but the number owned varies enormously based on the type of area. For example if you live in a one bedroom flat in a city you’re much less likely to own a car than if you live in a commuter suburb.
We wanted to take a look at how overall average prices of flats and houses have changed in the last eight months. This is quite a short time frame so there’s a fair bit of volatility from month to month but the story it tells is an interesting one nonetheless.
This chart has indexed the levels of transactions for flats and houses over the last eight quarters. That means it takes the actual level of sales at the start of the period and converts them to 100, and then you can see the relative changes running up to the present. It should be noted that the smaller the number of properties, the more extreme the volatility.
The British press is being so hysterical about the UK property market at the moment, you’d be forgiven for thinking we were back in 2008 again, staring down the barrel of another credit crunch. This couldn’t be further from the truth. Week after week, more statistics come out revealing how buoyant the market is at the moment. Here are just three of the reasons why homeowners in Marple and Marple Bridge should be grinning.
Defining the modern working week in 2018 isn’t a straightforward process. As we embrace technology, the lines between daily commutes to work and working from remote locations become less transparent. From a property perspective, this means people with flexible working patterns can be more selective about the location of their next home. But what does this mean for Marple and Marple Bridge?
Have you ever wondered how many people buy flats in the local area as opposed to houses? Wonder no longer. We’ve done the analysis, which shows the most recent split as well as two years’ worth of quarterly data. This is useful information for anyone with an interest in the local market because it affects the overall market dynamic.
The socio-economic profile is a telling measure of the constitution of people in a local market. We have to be careful when talking about the economic profile of local residents because no statistical measure will really illustrate the character of an area. However, we’ve used the governments ‘NS-Sec’ classification data on our area, which defines local residents in those terms.
By looking back over the last eight quarters, it’s quite enlightening to see how average sales prices have changed for individual house types. Obviously the bigger types sell for more, but the quarter-on-quarter changes tell an interesting story.
Property types are a handy measure of the shape of the market in a local area. For example, areas with lots of flats tend to be urban in character because there is huge pressure on land. A large number of detached homes means that the area is suburban and not very densely populated.
We know we live in a great area, and because most people agree, demand has driven up house prices. But how do prices in our area stack up in terms of property types? This chart looks at the comparison over the last eight years.