Where to research house prices

• Should you buy a home now or wait?
• Which is best financially?
• If prices are falling, can you tell when they've reached bottom?

House prices reports never seem to agree.

Some reports show asking prices, some sale agreed prices, and others final sold prices.

Research provides valuable data, key to informed buying decisions.

Can you tell when prices have reached bottom?

It's not usually possible to judge the exact point. It only becomes clear when there the market has begun to rise.

Even if you could judge, there's no guarantee the right home will be available to buy at the right time.

Wait too long and you could pay more

As a buyer with a mortgage in the current market, your negotiating position is very strong.

Buy at the best price available now and take a long term view on price.

To pay the lowest price, know your local market. Identify serious sellers

To spot home buying opportunities follow both national house price trends and local prices.

• You need to research your market for 2/3 months to build a full picture of current activity and prices
• Some homes for sale may be overpriced. Not all owners accept reality about falling prices. Some never will - use research to avoid
• There'll be home owners who must sell, and who will bargain. Identify these through research, to negotiate the lowest price

Sources of information on house prices

Links open in a new window. Close to be back here.

Nationwide Building Society www.nationwide.co.uk Based on mortgage approvals. Market share of around 9%. Methodology is described on their site and how it differs from the Halifax. Nationwide also offers a house price calculator and mortgage calculators.

Halifax HBOS plc www.hbosplc.com Methodology described on site. The largest mortgage lender. Prices are based on mortgage approvals. Offers house price calculator and mortgage repayment calculator.

Land Registry data by postcode www.estatesforum.co.uk Published by a number of sites. For a quick search down to postcode sector, around 3,000 homes, Estatesforum home buyers' advice site.

Rightmove www.rightmove.co.uk Here "house prices" means "asking prices" and may offer a better indication of current trends than sites reporting on loans agreed, or sale prices.

Hometrack www.hometrack.co.uk Survey based on accepted offer prices. Data from around 3,500 agents. Also time taken to sell, indicating how active the market is. Longer times and sellers more likely to negotiate.

ODPM Office of the Deputy Prime Minister www.odpm.gov.uk The complex method is explained on site. Information is provided by various lenders, around 30% of the market. Based on completions not approvals, results tend to lag behind the two lenders above.

Royal Institution of Chartered Surveyors www.rics.org Market comment based on members' reports.

National Association of Estate Agents www.naea.co.uk News bulletins offer comment on the housing market.

Where do you find informed advice on negotiating better? More >>>

Top