21st November 2008
(Aldershot, UK) OurProperty.co.uk has seen a sharp increase in the number of homeowners contacting the site because they are worried about falling house prices, as a result of exclusive data released by the website last week.
The website saw an average of 380 emails a day from homeowners expressing concern about the value of their property after new house price data was released. This figure is a significant increase from the previous average of 30 emails a day expressing concern about house prices, out of a total average of 1000 emails a day.
The site has also seen an increase of emails from first time buyers trying to find out if, and when house prices might return to pre 2000 prices.
The new sold house price data released last Monday (10.11.08) enables anyone to find out sold house prices from 1995 to 2000. OurProperty.co.uk has provided nosy neighbours, property professionals and house hunters with access to sold house prices dating back to 2000 for England, Wales and Scotland since the site first launched in 2005, but is the first to offer pre 2000 data online.
The extra 5 million property prices takes the total number of sold prices available on the site to 16.2 million. The new data aims to improve the site and give members a long term picture of property prices in England and Wales.
Stuart Wyeth, 23, from Surrey was shocked that houses on his road sold for so little 10 years ago, after viewing the sold house price data for 1998 on OurProperty.co.uk: “Houses on my road are worth around £350,000 now, but 10 years ago they were selling for around £80,000. When I bought my house this kind of information wasn’t around, and I was quite young so I didn’t really consider that prices could down as well as up. I think my area will hold its value better than most areas but even if prices only fall 30% I’ll be in negative equity and things will get really tough.”
Hopeful first time buyer Neil Pullman, 29, from Hampshire wrote to say, “I’ve always rented because house prices were too high, but now prices are falling it seems like a good time to make a move. There’s so much conflicting advice on the internet, but looking at accurate sold house prices helps me to decide what would make a good investment. If prices fell back to the 1995 levels shown on OurProperty.co.uk I might finally be able to get on the property ladder.”
Brendan McLoughlin, founder of OurProperty.co.uk commented: “The emails we’ve been getting each day as a result of the new data give an accurate picture of what homeowners and house hunters are really feeling. The whole country is holding its breath to see what will happen to house prices, but our site gives clear, accurate data which cuts through the speculation and ‘expert’ opinion that clouds people’s judgement. We passionately believe that everyone needs free access to more information about house prices, and the response to the release of our new data shows just how interested people are.”
Notes to editors
OurProperty.co.uk was the first website to offer sold UK house prices from the Land Registry for free. The site launched in 2005 and now has a total of 2 million members, averaging 30,000 unique visitors a day. Anyone can access regional statistics on house prices in England, Wales and Scotland online for free.
In order to gain access to the pre 2000 data OurProperty.co.uk members will need to take the OurProperty.co.uk Survey. This is a short questionnaire about our users houses, which aims to be the biggest UK property survey, and give the clearest picture of the UK housing market.
Where possible, please link to OurProperty.co.uk in online articles.
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