Housing Market Report August 2009
Housing Market Report August 2009
Housing Market Report August 2009
Contents 1. Summary 2. Land Registry House Price Index 3. CLG House Price Index 4. Other indices: •
Nationwide
•
Halifax
•
Zoopla
5. Hi4em analysis of 2008 Land Registry data: •
Average prices
•
Sales volumes 2004 to 2008
6. Hi4em analysis of 2009 Land Registry data - quarter 1 and quarter 2 average prices 7. Summary of house price data and indices 8. Council of Mortgage Lenders: •
Loans, buyers and affordability
•
Repossession of mortgaged properties
9. Ministry of Justice possession claims 10. HSSA annual data: •
Dwellings and vacant dwellings by tenure
•
Waiting lists and homelessness
11. Valuation Office Agency – Local Housing Allowance rates 12. Experian house type and tenure annual data 13. CLG house building data
David George Hi4em, Derby City Council, Bio House, Derwent Street, Derby DE1 2ED Tel: 01332 255161 Fax: 01332 255162 Email [email protected]
Housing Market Report August 2009
Summary The data used in this report was the latest available at the time of compilation (20 August 2009) and has undergone an analysis by Hi4em - Housing Intelligence for the East Midlands. In summary: • Annually calculated average house prices continued to fall in June 09 although a three month analysis of raw Land Registry data shows a slight increase in the average price paid in April, May and June when compared with prices paid in the first three months of the year • In 2008 the East Midlands saw a greater fall in house prices on average compared to the rest of the UK however the decline begins to fall in line with national averages during 2009. • Affordability of property has increase for First Time Buyers but mortgage advances and wage multipliers have decreased • The East Midlands, as a whole, varies greatly in the affordability of all types of property – The average price you pay for a detached home can vary as much as £214,389 between Rutland and Boston. • The average number of mortgages written per month significantly dropped between Q3 2008 and Q1 2009 however it appears this trend is being sharply reversed • Private enterprise house building has slowed across the region between 2005 and 2009 however social landlords appear to be continuing to build in this period.
In early August a number of respected commentators gave their view of the current housing market : • The Royal Institution of Chartered Surveyors said it was revising its 2009 house price forecast from a fall of between 10% and 15% to a slight rise. But it warned that the property market would continue to face "significant challenges" during 2010 and did not indicate a quick return to the boom time, as activity remained very weak by historical standards. • Gary Smith, president of the NAEA, said: "Estate agents expect a drop in activity over the summer months, but there is no doubt that the market is in a considerably stronger position than a year ago. "Agents sold more (properties) in July than in any month last year. That is concrete evidence that the housing market, while not recovered, has potentially been through the worst." • Benjamin Williamson, an economist at the Centre for Economics and Business Research, said: "The key question now is the extent to which rising unemployment and weak wage growth will lead to a second wave of house price falls, or whether this has already been built in to existing expectations. • Rightmove said buyers were continuing to return to the market, with the group recording its busiest ever month (July 09) for traffic, despite the fact that there is usually a fall in househunting activity during the summer, as potential buyers go on holiday. • Gary Murphy, the auctioneer at Allsop, agrees: “It is a buyers’ market and those investors with cash are taking advantage of it.” • Peter Redfern, chief executive of Taylor Wimpey, has said there is no evidence for a second drop in the housing market. • David Orr, chief executive of the National Housing Federation, said: "Our new research shows that while house prices are falling in the short term, they will inevitably increase in the long term because of a fundamental under-supply of housing.
Land Registry House Price Index • The average price of all property transactions completed in the East Midlands in June 09 was 1.1% lower than in May 09. • The prices have fallen each month with the exception of Jan 09 which saw a very small increase (0.1%) followed by further declines. There was annual price change of minus 15.3% (June 08-june 09), with the average house price as of June 09 being £119,849. • The data suggests that the sharpest falls are behind us and that the rate of decline has now slowed significantly, between Jan 09 and Feb 09 the monthly price change was -3% now it has slowed to -1.1% between May 09 and June 09 • Sales Volume has been more sporadic, the data shows both increases and decreases month by month however overall from June 08 sales volume was 4951 units and in April 09 it was 36.6% less at 3134 units.
Sales volume data for the two most recent months are not used as comparisons due to the lag in the registration of sold properties.
Land Registry House Price Index House Price Index report - East Midlands Region (June 2008 - June 2009)
Index Month
Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09
Average
Monthly Annual Sales Change Change (%) Price (£) (%) Volume 254.6 141,473 -2.3 -2.2 4,951 251.4 139,719 -1.2 -5.4 4,399 245 136,161 -2.5 -7 4,052 239 132,839 -2.4 -10.1 3,521 234.5 130,317 -1.9 -11.5 3,899 229.8 127,715 -2 -13.6 3,135 225 125,045 -2.1 -13.9 3,565 225.1 125,114 0.1 -14.6 2,195 218.4 121,385 -3 -16.8 2,179 216.3 120,232 -1 -16.4 3,083 219.5 121,996 1.5 -15 3,134 218 121,154 -0.7 -16.3 215.6 119,849 -1.1 -15.3 -
Land Registry House Price Index Household type breakdown - East Midlands Region (June 2008 - June 2009)
Detached (£)
SemiTerraced Maisonette/ All (£) Detached (£) Flat (£) (£)
Month
Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09
221,703 218,956 213,380 208,174 204,222 200,143 195,959 196,068 190,225 188,418 191,181 189,863 187,818
120,045 118,557 115,538 112,719 110,580 108,371 106,106 106,164 103,001 102,022 103,518 102,804 101,697
93,038 91,885 89,545 87,361 85,702 83,991 82,235 82,280 79,828 79,070 80,230 79,676 78,818
100,398 99,153 96,628 94,271 92,481 90,634 88,740 88,789 86,143 85,324 86,576 85,979 85,053
141,473 139,719 136,161 132,839 130,317 127,715 125,045 125,114 121,385 120,232 121,996 121,154 119,849
The table and graph show the monthly average sale price by house type in the East Midlands in the past year. Each line on the graph relates to the colour coded area below the line. The Land Registry House Price Index (HPI) captures changes in the value of residential properties. The HPI is published by Land Registry using sales data collected on all residential housing transactions, whether for cash or with a mortgage, in England and Wales since January 1995. Our HPI uses a sample size that is larger than all other statistical measures available. The Land Registry data set is the only complete record of residential property transactions in England and Wales. The HPI is calculated by using Land Registry's own 'Price Paid Dataset'. This is a record of all residential property transactions made in England and Wales since January 1995. At present it contains details on over 15 million sales. Of these, over five million are identifiable matched pairs, providing the basis for the repeatsales regression analysis used to compile the index. This technique of quality adjustment ensures an ‘apples to apples’ comparison between properties.
CLG Index
Prices regionally in the East Midlands and nationally continue to decline on both a monthly and an annual basis. The East Midlands showed the sharpest percentage decline in house price index compared to England and UK wide statistics for the second half of 2008. However, after Feb 09 the East Midlands fell in line with the UK and England and the decline slowed.
Mix-adjusted average house prices All dwellings East Midlands
England
UK
£169,019 £168,372 £163,333 £162,888 £158,017 £156,757 £154,153
£221,763 £221,861 £215,660 £215,342 £210,164 £206,282 £201,676
£215,029 £214,867 £208,892 £208,583 £203,580 £199,933 £195,317
£149,887 £149,746 £148,813 £147,291 £149,262 £149,580
£200,761 £195,527 £192,625 £193,615 £193,728 £197,079
£195,114 £189,747 £187,193 £188,162 £188,466 £191,423
2008 Jun Jul Aug Sep Oct Nov Dec 2009 Jan Feb Mar Apr May June
Mix-adjusted house price index and annual house price change All dwellings % change East % change % change UK Midlands England UK
East Midlands
England
186.0 185.3 179.7 179.3 173.9 172.5 169.6
175.2 175.3 170.4 170.2 166.1 163.0 159.4
180.4 180.2 175.2 175.0 170.8 167.7 163.8
-1.1 -1.6 -6.2 -7.0 -9.5 -9.9 -11.5
0.5 -1.4 -4.5 -5.1 -7.3 -8.6 -10.4
0.6 -1.4 -4.6 -5.1 -7.4 -8.5 -10.2
166.1 166.0 164.9 163.3 165.4 165.8
159.5 155.3 153.0 153.8 153.9 156.5
164.2 159.7 157.5 158.4 158.6 161.1
-14.1 -12.7 -13.2 -12.5 -11.1 -10.9
-11.8 -12.4 -13.8 -13.2 -12.8 -10.7
-11.5 -12.3 -13.6 -13.0 -12.5 -10.7
2008 Jun Jul Aug Sep Oct Nov Dec 2009 Jan Feb Mar Apr May June
Nationwide Indices
First Time buyers Affordability in the East Midlands has improved with the index of the proportion of take home pay spent on mortgage payments declining slowly from 141.4 at its peak in Q3 2007 to 108.4 in Q4 2008 These figures are slightly higher than those experienced by first times buyers, as a whole, throughout the UK. Q1 2009 saw the lowest gross house price to earnings ratio in both the East Midlands and across the UK since Q1 2004. The ratio for the East Midlands in Q1 2009 was 3.4, which had previously peaked at 4.7
East Midlands £ index Q1 2004 Q2 2004 Q3 2004 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009
£128,579 £137,684 £141,625 £141,966 £141,756 £143,646 £144,764 £141,983 £143,840 £146,521 £149,783 £150,921 £152,560 £156,512 £156,924 £155,141 £153,066 £147,413 £141,572 £133,102 £126,673 £130,579
283.6 303.7 312.4 313.1 312.6 316.8 319.3 313.1 317.2 323.2 330.3 332.9 336.5 345.2 346.1 342.2 337.6 325.1 312.2 293.6 279.4 288.0
First time buyers Index of mortgage payments as a Gross house price percentage of to earnings ratio UK takehome pay £ index E Mids UK E Mids UK £139,027 277.3 110.9 94.1 4.3 4.4 £148,462 296.2 124.2 104.0 4.7 4.7 £153,482 306.2 130.4 110.9 4.7 4.8 £152,464 304.1 132.8 113.8 4.7 4.8 £152,790 304.8 130.1 112.5 4.6 4.8 £157,494 314.2 129.3 112.0 4.6 4.8 £157,627 314.4 127.2 109.9 4.6 4.8 £157,387 314 121.6 106.1 4.5 4.7 £160,319 319.8 125.2 109.4 4.6 4.8 £165,035 329.2 125.0 111.7 4.6 4.9 £168,460 336.1 127.7 114.0 4.6 4.9 £172,065 343.2 130.0 118.3 4.6 5.0 £175,554 350.2 133.3 122.8 4.7 5.1 £181,810 362.7 138.7 131.2 4.8 5.4 £184,131 367.3 141.4 134.8 4.7 5.4 £183,959 367 140.3 136.2 4.6 5.4 £179,363 357.8 136.9 129.3 4.6 5.2 £174,514 348.1 123.9 119.8 4.2 4.9 £165,188 329.5 123.3 118.4 4.1 4.7 £156,828 312.9 108.4 105.7 3.8 4.4 £149,709 298.7 not available 3.5 4.1 £154,066 307.3 not available 3.6 4.2
House Prices Since 1952 - Notes: The Nationwide house price methodology has developed over time and this needs to be considered when interpreting the long run series of house prices. Maintenance in terms of updating weights for the mix-adjustment process is carried out at regular intervals. Significant developments include: 1952 - 1959 Q4 Simple average of purchase price. 1960 Q1 - 1973 Q4 - weighted average using floor area (thus allowing for the influence of house size). 1974 Q1 - 1982 Q4 - weighted averages using floor area, region and property type. 1983 Q1 - Development of new house price methodology. A statistical ‘regression’ technique was introduced under guidance of ‘Fleming and Nellis’ (Loughborough University and Cranfield Institute of Technology). This was introduced in 1989 but data was revised back to 1983 Q1. 1993 - Information about neighbourhood classification (ACORN) used in the model were significantly updated following Census 1991 publication - regular updates since but typically for new postcodes. Mortgage payments index - based on 1985 averages
Halifax Index
East Midlands index 2004 Q1 2004 Q2 2004 Q3 2004 Q4 2005 Q1 2005 Q2 2005 Q3 2005 Q4 2006 Q1 2006 Q2 2006 Q3 2006 Q4 2007 Q1 2007 Q2 2007 Q3 2007 Q4 2008 Q1 2008 Q2 2008 Q3 2008 Q4 2009 Q1 2009 Q2
505.8 552.3 559.9 558.6 566.7 562.1 560.0 570.7 588.1 596.0 593.8 621.2 622.0 636.7 648.6 627.3 640.3 591.1 557.4 538.2 519.0 512.8
% change 5.0 9.2 1.4 -0.2 1.5 -0.8 -0.4 1.9 3.0 1.3 -0.4 4.6 0.1 2.4 1.9 -3.3 2.1 -7.7 -5.7 -3.5 -2.5 -1.2
Ave price £132,213 £144,353 £146,348 £146,007 £148,126 £146,915 £146,376 £149,164 £153,706 £155,776 £155,199 £162,374 £162,567 £166,410 £169,528 £163,976 £167,361 £154,510 £145,703 £140,671 £135,873 £134,038
UK index 480.3 508.4 522.0 523.5 526.9 526.8 537.7 550.3 560.4 574.9 581.7 606.0 623.5 639.4 646.5 638.8 630.2 597.9 564.6 535.4
517.9 507.9
% change 5.5 5.9 2.7 0.3 0.6 0.0 2.1 2.3 1.8 2.6 1.2 4.2 2.9 2.5 1.1 -1.2 -1.4 -5.1 -5.6 -5.2
Ave price £148,399 £157,091 £161,279 £161,742 £162,785 £162,783 £166,141 £170,043 £173,148 £177,643 £179,721 £187,250 £192,651 £197,562 £199,766 £197,388 £194,717 £184,733 £174,453 £165,412 -3.1 £160,678 -1.9 £156,944
The Halifax index was set at 100 in 1983. This index is seasonally adjusted Halifax statement: The Halifax House Price Index is prepared from information that we believe is collated with care, but we do not make any statement as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time for regulatory or other reasons. Persons seeking to place reliance on the indices for their own or third party commercial purposes do so at their own risk.
zoopla. co.uk All counties in the East Midlands showed a sharp decline in the annual average house prices. The greatest percentage change in average house prices between June 08 and June 09 was in Rutland (minus 16.84%) followed by Northamptonshire (minus 12.41%). Leicestershire showed the least change at minus 7.64%
Derbyshire Leicestershire Lincolnshire Northamptonshire Nottinghamshire Nottingham Rutland East Midlands
Jun-08 Average price No of sales £151,518 5,781 £161,372 5,448 £148,342 5,094 £162,730 4,676 £128,954 2,646 £141,918 4,783 £259,312 235 £164,878 28,663
Jun-09 Average price % change £133,970 -10.32 £147,702 -7.64 £131,559 -10.23 £141,313 -11.66 £112,342 -11.23 £126,628 -9.8 £223,765 -12.41 £145,326 -13.45
Land Registry average price data 2008 Of the 40 local authorities in the East Midlands, 35 recorded price falls on an annual basis with Blaby, Hinckley and Bosworth, Melton, Oadby and Wigston and South Holland all showing the highest percentage price fall from 2007 to 2008. The 5 local authorities with the cheapest average house prices are: Ashfield, Mansfield, Nottingham, Bolsover, Lincoln. The 5 local authorities who have the cheapest ‘lower quartile’ house price are: Ashfield, Mansfield, Nottingham, Bassetlaw, Erewash, The price maps show that the cheapest average priced properties seem to be clustered around Lincolnshire and Nottinghamshire (with the exception of Rushcliffe which bucks the trend) The local authorities with the most expensive average house prices are: Daventry, Derbyshire Dales, Harborough, Rutland, South Northamptonshire. Apart from Daventry these same local authorities also have the most expensive ‘lower quartile’ house prices.
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough
Ave price Ave price 2007 2008 £164,260 £155,763 £125,212 £118,878 £149,528 £146,490 £185,652 £172,882 £124,412 £127,361 £141,702 £137,351 £162,025 £154,500 £189,556 £183,233 £147,017 £141,405 £146,072 £145,196 £231,300 £238,096 £150,326 £142,592 £256,853 £243,962 £163,531 £152,609 £185,085 £183,827 £145,506 £137,605 £157,817 £150,037 £238,777 £230,108
% price change over 1 Detached year ave price -5.17 £228,115 -5.06 £171,159 -2.03 £222,386 -6.88 £241,276 2.37 £195,596 -3.07 £186,765 -4.64 £220,847 -3.34 £287,926 -3.82 £219,405 -0.60 £210,427 2.94 £351,999 -5.14 £229,652 -5.02 £338,128 -6.68 £195,379 -0.68 £267,511 -5.43 £208,533 -4.93 £229,927 -3.63 £327,981
Flat or
Semi ave price £135,408 £112,465 £117,188 £151,201 £113,649 £120,089 £136,419 £160,603 £124,726 £135,296 £180,604 £131,437 £199,446 £124,896 £153,807 £125,753 £128,024 £182,923
Terraced maisonnette ave price ave price £108,530 £146,191 £92,414 £76,790 £93,728 £83,756 £133,130 £109,764 £82,957 £74,983 £104,137 £94,309 £117,609 £99,295 £135,091 £119,232 £105,274 £113,048 £120,401 £97,374 £145,954 £108,513 £111,213 £111,371 £157,290 £174,693 £110,943 £82,603 £135,532 £94,166 £99,239 £97,750 £105,934 £96,024 £152,944 £134,508
Lower quartile price £100,000 £83,000 £90,000 £129,950 £92,000 £96,500 £110,000 £123,500 £98,500 £105,000 £134,000 £95,500 £149,000 £105,000 £121,000 £77,276 £100,000 £142,000
Mean house price to incomes ratio 5.35 5.07 5.27 5.77 5.06 6.17 4.79 6.48 5.23 6.17 6.91 5.24 n/a 5.92 6.31 5.38 5.18 7.46
Median house price to incomes ratio 6.44 5.97 6.27 6.74 5.76 6.82 5.94 7.31 6.07 7.11 8.61 5.83 8.54 7.35 6.99 5.79 5.98 8.46
Lower quartile house price to incomes ratio 5.74 5.63 5.25 6.95 5.71 6.28 5.84 6.69 6.06 6.66 7.26 5.47 7.35 6.51 6.52 4.80 5.43 8.08
High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Ave price Ave price 2007 2008 £183,317 £187,420 £185,022 £172,258 £161,925 £157,862 £144,980 £144,019 £137,944 £133,481 £124,208 £120,359 £207,331 £187,622 £175,261 £171,285 £167,541 £164,210 £174,634 £172,490 £176,897 £165,694 £127,982 £178,129 £227,254 £265,025 £173,081 £163,777 £188,029 £252,583 £160,748 £160,112 £167,773
£171,855 £158,438 £124,171 £163,128 £212,752 £280,691 £166,360 £152,681 £184,608 £249,626 £155,839 £161,488 £162,443
% price change over 1 Detached year ave price 2.24 £315,964 -6.90 £247,243 -2.51 £243,608 -0.66 £247,141 -3.24 £205,175 -3.10 £182,836 -9.51 £272,060 -2.27 £250,866 -1.99 £241,974 -1.23 £207,322 -2.85 -4.38 -2.98 -8.42 -6.38 5.91 -3.88 -6.78 -1.82 -1.17 -3.05 0.86 -3.18
£238,037 £244,246 £210,285 £252,388 £290,512 £376,893 £225,971 £186,734 £244,328 £327,857 £240,299 £227,377 £242,392
Flat or
Semi ave price £175,224 £151,628 £141,504 £144,672 £127,738 £108,883 £162,555 £130,029 £136,581 £137,426 £148,390 £151,742 £120,803 £150,902 £177,585 £202,449 £142,564 £131,225 £149,852 £194,666 £145,105 £124,532 £140,859
Terraced maisonnette ave price ave price £138,558 £137,969 £126,340 £104,830 £120,924 £99,628 £128,094 £108,391 £108,734 £119,790 £85,411 £105,165 £121,906 £115,408 £115,653 £95,405 £106,121 £100,642 £125,292 £116,917 £126,003 £137,222 £99,621 £123,661 £155,395 £182,277 £121,179 £113,303 £148,024 £181,419 £123,884 £97,967 £119,013
£133,692 £111,724 £122,839 £96,866 £115,888 £122,852 £112,053 £112,997 £117,005 £152,622 £98,788 £112,968 £111,726
Note: Price to incomes ratios uses ASHE gross full time employed earnings 2008. n/a = ASHE data not available KEY 5 lowest prices 5 highest prices 5 biggest increases/highest affordability ratios 5 smallest increases/lowest affordability ratios
Lower quartile price £122,500 £120,000 £110,000 £105,000 £95,000 £82,000 £122,550 £100,000 £102,000 £124,950
Mean house price to incomes ratio 6.34 6.02 5.52 6.25 4.95 5.03 n/a 5.87 6.08 6.85
Median house price to incomes ratio 7.72 7.20 6.88 7.17 6.39 5.38 7.58 7.92 6.92 8.03
Lower quartile house price to incomes ratio 6.67 6.85 6.49 6.82 5.69 5.52 7.20 6.29 5.77 7.80
£119,950 £115,000 £82,500 £119,950 £140,000 £155,500 £114,000 £118,000 £124,950 £165,000 £109,950 £97,000 £106,000
5.55 5.74 5.10 5.71 5.30 9.30 5.58 6.51 5.92 7.14 6.07 6.04 5.71
6.69 6.58 6.04 6.70 6.83 n/a 6.52 7.03 7.26 9.06 7.42 7.44 6.89
6.74 6.39 5.25 6.37 7.54 8.60 6.17 7.51 6.64 8.26 7.23 5.95 6.19
Land Registry sales volume data
The East Midlands as a whole saw a rapid decline in sales volumes/transaction made. The areas most affected by fewer homes being sold in the last year were: • Blaby (-52.42%), • East Lindsey (-52.33%), • High Peak (-54.21%), • South Holland (-54.65%) • Wellingborough (-53.73%). Even those areas that were least affected by the downturn in property sales (Erewash, Derbyshire Dales.) still saw a decline of over 42% in business transactions in the last year. The decrease in ‘New build’ property sales were more extreme at both ends of the spectrum with the worst affected areas seeing a downturn in new homes being sold of more than -61% (Bassetlaw, Bolsover and Chesterfield). Whilst new property sales in East Lindsey (3.36%) and Hinkley and Bosworth (-18.98%) didn’t fare too badly in comparison to the rest of the East Midlands and in relation to the figures for total number of properties sales.
Total No of property sales
New property sales % change
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby
2004
2005
2006
2007
2008 last year
2730 2799 2087 1943 1611 1589 2284 3484 1975 1411 1872 5106
2187 2380 1998 1599 1405 1231 1896 2910 1780 1268 1636 4547
2816 2685 2607 2070 1644 1569 2381 3928 2190 1747 1908 5513
2684 2616 2466 2043 1645 1640 2382 3846 2083 1782 1844 5306
1505 1412 1285 972 826 843 1214 1976 1011 984 944 2909
-43.93 -46.02 -47.89 -52.42 -49.79 -48.60 -49.03 -48.62 -51.46 -44.78 -48.81 -45.18
2004
2005
2006
2007
2008
262 408 152 130 113 260 144 569 260 306 203 453
204 277 304 144 136 146 203 413 253 367 171 613
270 301 404 150 181 219 264 438 267 487 191 569
158 232 267 141 113 158 242 542 192 396 130 588
80 150 104 104 36 78 121 361 59 308 56 256
% change last year
-49.37 -35.34 -61.05 -26.24 -68.14 -50.63 -50.00 -33.39 -69.27 -22.22 -56.92 -56.46
Total No of property sales
New property sales % change
Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
2004
2005
2006
2007
1236 3057 2417 2319 2514 1861 2127 2567 2607 5565 2420 2583 947 2677 1536 2617 2100 6045 6092 1086 2338 845 2401 2254 3280 2111 1875 2158 100526
1042 2345 2143 2177 1850 1724 1796 2033 2324 4542 1832 2289 897 2241 1471 2277 1841 5428 4909 950 2034 799 2010 1958 2814 1798 1646 1846 85853
1365 3184 2708 2674 2429 2062 2194 2530 3029 5723 2603 2548 1016 2771 6501 1840 2919 2312 5860 1127 2570 814 2422 2294 3626 2144 2003 2257 106583
1269 3221 2450 2428 2549 1979 1959 2273 2652 5492 2605 2372 1015 2492 1825 2776 2023 5868 5905 1001 2476 774 2333 2368 3146 1924 2012 2298 101822
KEY 5 biggest increases/highest affordability ratios 5 smallest increases/lowest affordability ratios
2008 last year 729 1634 1168 1407 1321 1061 897 1247 1309 2724 1361 1300 583 1391 887 1480 1066 2967 3,039 511 1,255 424 1248 1074 1766 998 931 1265 52924
-42.55 -49.27 -52.33 -42.05 -48.18 -46.39 -54.21 -45.14 -50.64 -50.40 -47.75 -45.19 -42.56 -44.18 -51.40 -46.69 -47.31 -49.44 -48.54 -48.95 -49.31 -45.22 -46.51 -54.65 -43.87 -48.13 -53.73 -44.95 -48.02
2004
2005
2006
2007
2008
116 294 388 95 172 220 253 326 387 689 267 357 58 542 127 395 202 615 691 94 179 172 513 433 516 411 170 364 12306
80 192 437 196 70 213 233 264 369 499 257 447 71 440 160 441 257 687 869 109 186 200 440 303 419 210 197 351 11828
151 258 512 314 173 234 360 209 629 638 450 460 85 404 837 314 524 264 1072 50 223 62 395 229 473 218 258 427 13964
64 149 286 180 185 201 166 137 384 374 324 262 52 181 207 336 158 571 661 12 229 35 368 228 314 106 205 210 9744
32 144 114 108 88 155 73 163 127 263 186 178 89 92 35 174 118 230 267 17 134 23 168 116 182 56 94 121 5260
% change last year
-50.00 -3.36 -60.14 -40.00 -52.43 -22.89 -56.02 18.98 -66.93 -29.68 -42.59 -32.06 71.15 -49.17 -83.09 -48.21 -25.32 -59.72 -59.61 41.67 -41.48 -34.29 -54.35 -49.12 -42.04 -47.17 -54.15 -42.38 -46.02
Quarterly Land Registry average prices and affordability ratios - 2009 The lower quartile house prices to income ratio peaks for the East Midlands in Harborough (7.46), South Kesteven (7.36), Rushcliffe (7.19) and North East Derbyshire (7.18) The local authorities showing the greatest change in average house prices between Q1 and Q2 2009 were: • Corby (-5.62%) • South Derbyshire (-5.12%) • Charnwood (-4.51%) • Leicester (--3.65%) • Northampton (-3.55%) Whereas those showing more resistance to the average price changes were: • Oadby and Wigston (-0.54%) • West Lindsey (-0.72%) • South Northamptonshire (-1.00%) • Lincoln (-1.06%) • Gedling (-1.06%) Ashfield showed the lowest average house prices consistently for detached, semi detached and terraced properties compared to the other 39 areas in the East Midlands. Rutland has the most expensive average house price for detached homes at £377,507, whereas Boston has the cheapest at £163,118. The average prices for flats or maisonettes vary greatly from the cheapest in • Bolsover - £68,800 • Ashfield - £71,808 • Boston - £82,012 to the most expensive in • Derbyshire Dales - £191,645 • South Kesteven - £168,283 • High Peak - £146,223
Flat or
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston
Ave price Ave price Q1 2009 Q2 2009 £153,186 £148,942 £116,916 £114,262 £142,500 £137,954 £170,217 £164,832 £122,647 £119,175 £133,949 £129,282 £152,203 £149,020 £174,613 £166,737 £136,879 £133,093 £141,554 £133,605 £236,366 £232,885 £141,234 £137,789 £237,157 £234,417 £149,484 £145,946 £179,485 £173,844 £137,427 £132,925 £148,911 £147,330 £217,795 £212,782 £185,631 £179,253 £170,803 £167,867 £154,621 £151,658 £141,844 £136,661 £131,565 £130,171 £119,047 £115,412 £178,924 £174,508 £161,155 £163,248 £165,448 £161,288 £170,218 £165,110 £174,284 £169,249 £154,773 £149,280 £123,279 £120,017 £160,043 £159,179
% price Detached change ave price -2.77 £217,706 -2.27 £168,190 -3.19 £202,226 -3.16 £230,926 -2.83 £186,179 -3.48 £163,118 -2.09 £203,350 -4.51 £258,339 -2.77 £203,164 -5.62 £190,045 -1.47 £330,486 -2.44 £218,395 -1.16 £315,955 -2.37 £180,881 -3.14 £247,447 -3.28 £207,689 -1.06 £218,534 -2.30 £294,504 -3.44 £288,430 -1.72 £236,470 -1.92 £223,033 -3.65 £226,672 -1.06 £193,405 -3.05 £171,966 -2.47 £254,577 1.30 £227,632 -2.51 £229,327 -3.00 £195,984 -2.89 £236,038 -3.55 £225,750 -2.65 £197,623 -0.54 £238,426
Semi ave price £127,015 £103,778 £110,975 £140,755 £104,671 £111,225 £133,552 £150,681 £117,270 £124,936 £164,907 £124,433 £190,050 £120,708 £143,330 £119,774 £121,648 £174,399 £155,340 £147,024 £130,247 £137,492 £123,446 £102,114 £149,858 £133,442 £122,691 £128,388 £136,843 £137,707 £114,728 £142,560
Terraced maisonnette ave price ave price £100,879 £135,858 £82,939 £71,808 £89,771 £93,593 £122,673 £107,053 £78,937 £68,800 £97,962 £82,012 £110,747 £95,504 £126,392 £113,017 £97,270 £88,331 £110,979 £96,185 £137,082 £128,769 £101,696 £101,707 £147,913 £191,645 £106,101 £90,913 £125,321 £91,857 £94,968 £89,078 £98,731 £94,788 £140,244 £116,893 £132,688 £146,223 £121,015 £99,723 £118,151 £88,378 £121,102 £99,470 £103,716 £118,523 £80,782 £104,663 £120,142 £106,719 £103,399 £92,139 £107,488 £100,627 £116,240 £102,795 £116,900 £127,017 £127,513 £105,502 £93,379 £120,572 £122,462 £97,862
Lower quartile price £84,000 £80,000 £87,000 £123,500 £77,500 £96,000 £102,000 £110,000 £80,000 £80,000 £135,000 £85,000 £137,000 £101,000 £105,000 £85,000 £96,000 £137,000 £112,000 £115,000 £103,000 £89,950 £97,000 £80,000 £106,000 £104,999 £115,000 £115,000 £109,000 £103,000 £72,500 £119,950
Lower quartile house price to incomes ratio 4.82 5.42 5.08 6.60 4.81 6.25 5.41 5.96 4.92 5.08 7.32 4.87 6.76 6.26 6.52 4.61 5.46 7.46 6.39 6.79 6.69 5.39 6.53 4.70 6.67 5.94 7.18 6.46 6.06 6.56 3.85 6.46
LQ incomes 17,413 14,747 17,130 18,710 16,118 15,369 18,844 18,452 16,260 15,761 18,447 17,453 20,275 16,125 16,111 18,425 17,576 18,354 17,528 16,943 15,396 16,693 14,844 17,014 15,892 17,677 16,021 17,792 17,997 15,710 18,839 18,577
Flat or
Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Ave price Ave price Q1 2009 Q2 2009 £210,981 £208,056 £277,541 £281,310 £150,164 £142,478 £180,553 £174,550 £244,963 £238,462 £164,154 £162,518 £154,075 £151,921 £159,135 £157,992 £159,824 £156,526
Strategic Housing Market Area Central Lincolnshire Coastal Lincolnshire Derby Leicestershire North Northamptonshire Northern Nottinghamshire Nottingahmshire Core Nottinghamshire Outer Peak Dales & Park Peterborough Partial West Northamptonshire
£154,236 £144,435 £149,600 £169,360 £158,285 £140,841 £148,733 £134,370 £209,490 £180,866 £189,685
£151,790 £140,845 £146,277 £165,158 £154,447 £137,979 £147,169 £131,457 £205,396 £172,804 £185,901
% price Detached change ave price -1.39 £275,653 1.36 £377,507 -5.12 £172,362 -3.32 £229,577 -2.65 £312,300 -1.00 £222,108 -1.40 £227,636 -0.72 £209,275 -2.06 £225,794
-1.59 -2.49 -2.22 -2.48 -2.42 -2.03 -1.05 -2.17 -1.95 -4.46 -1.99
£200,240 £175,821 £219,277 £250,753 £226,967 £205,757 £226,470 £196,326 £305,270 £221,313 £283,824
5 lowest prices 5 highest prices 5 biggest increases/highest affordability ratios 5 smallest increases/lowest affordability ratios
Notes: Price to incomes ratio uses ASHE gross full time employed earnings 2008.
Semi ave price £175,950 £213,672 £117,922 £137,148 £182,894 £133,080 £130,022 £120,935
Terraced maisonnette ave price ave price £153,378 £108,119 £182,376 £109,539 £102,133 £102,474 £142,050 £110,926 £175,665 £163,283 £118,881 £108,437 £111,700 £96,688 £100,603 £105,776
£133,671
£113,751
£106,766
£124,702 £117,843 £126,915 £146,278 £132,660 £116,084 £130,314 £109,760 £171,035 £135,668 £153,452
£105,094 £103,194 £104,526 £123,443 £116,941 £90,770 £102,440 £89,012 £138,431 £137,183 £133,684
£114,131 £87,856 £108,832 £108,375 £92,765 £90,798 £108,765 £93,837 £161,364 £108,014 £121,023
Lower quartile price £130,000 £130,000 £99,950 £115,000 £147,000 £103,000 £99,000 £97,000 £104,109
Lower quartile house price to incomes ratio 7.19 7.04 6.36 6.12 7.36 6.78 6.07 5.67 5.61
LQ incomes 18,088 18,464 15,709 18,806 19,970 15,199 16,305
17,118 18,562
Summary Data provider
Average house price Apr-09 Dec-08 Jan-09 Feb-09 Mar-09 Land Registry indexed £125,065 £125,429 £121,318 £120,301 £121,996 CLG indexed £154,153 £149,887 £149,746 £148,813 £148,029 Nationwide indexed £133,102 £126,673 FTHPI £157,912 £156,088 £155,367 £154,680 £153,290 Zoopla £145,326 Hi4em analysis of Land Registry data 3 month prices £155,453 £153,338 £150,878 £148,943 £150,493 12 month prices £162,358 £161,464 £160,990 £159,824 £159,094
Dec-08 -13.9 -11.5 -14.2 -14.2 -10.2
Land Registry indexed CLG indexed Nationwide indexed Halifax indexed FTHPI Zoopla Hi4em analysis of Land Registry data 3 month prices -6.2 12 month prices -3.2
Jan-09 -14.4 -14.1
-11.2
-4.6 -4.0
Annual change (%) Apr-09 Feb-09 Mar-09 -17.0 -16.4 -15.0 -12.7 -13.2 -12.5 -17.2 -18.8 -12.1 -11.7 -12.0 -16.6 -4.3 -4.3
-4.2 -5.2
-1.9 -5.6
May-09 Jun-09 £121,154 £119,849 £149,046 £149,580 £130,579 £152,037 £151,034 £164,878 £150,563 £151,545 £157,750 £156,526
May-09 -16.3 -11.1
-11.7
Jun-09 -15.3 -10.7 -11.42 -13.5 -12.5 -13.45
-0.2 -6.3
Data sources: Halifax Index Land Registry CLG Index Nationwide Index Zoopla
http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp http://www1.landregistry.gov.uk/houseprices/ http://www.communities.gov.uk/publications/corporate/statistics/hpi062009 http://www.nationwide.co.uk/hpi/ http://www.zoopla.co.uk/house-prices/browse/east-midlands/
Summaries
http://www.hi4em.org.uk/EastMidlands/MapsAndReports/houseprices.htm
1.7 -6.7
Council of Mortgage Lenders data The average number of mortgage loans written per month in: • Q3 2008 was 2900 • Q4 2008 was 2566 • Q1 2009 was 1933 • Q2 2009 was 2900 showing a 33.4% decline in mortgages written then a rise to Q3 2008 levels. During March 2008 the median income multiplier for mortgages seemed to peak at 3.10 with the median advance for buyers being 81% then there is a steady decline in both until they reach 75% advances and 2.70 multiples by Q1 2009 House purchase loans, all buyers, number, value and affordability, East Midlands Number of loans Value of loans number 2008
2009
Age of borrower
Advance
Income
Percent advance
£m
median
median
median
median
£m
£
£
£
%
Interest Income payments as % of income multiple median
Jan
3,200
388
35
106,200
36,283
78
2.98
17.5
Feb
3,200
394
35
108,000
36,369
80
3.03
17.9
Mar
3,300
416
35
111,486
36,357
81
3.10
18.1
Apr
3,500
425
35
109,000
36,819
80
3.01
17.3
May
3,800
463
35
110,000
36,480
81
3.04
17.4
Jun
3,400
412
35
109,800
37,158
79
3.00
17.4
Jul
3,300
402
35
107,000
36,643
78
2.97
17.6
Aug
2,900
340
37
102,063
36,208
76
2.89
17.4
Sep
2,500
289
35
101,215
36,786
77
2.86
17.3
Oct
2,800
324
36
99,379
36,014
75
2.83
16.6
Nov
2,400
270
35
97,749
35,400
75
2.85
15.5
Dec
2,500
281
35
99,000
36,482
75
2.79
14.6
Q1
5,800
613
36
91,095
35,173
75
2.70
Q2
8,700
926
35
94,000
36,000
75
2.71
Source: Regulated Mortgages Survey, CML/BankSearch Notes:
median
1. Estimates of % of number and value of loans are indicative only. 2. Averages shown are medians, as this tends to give more realistic figures for affordability for the typical borrower. However we state mean for size of advance, as this is used directly in the calculation of estimated value of advances.
Council of Mortgage Lenders data Possessions on mortgaged properties - UK The total number of properties taken into possession in the UK during Q2 2009 was 11,400 - a decrease of 10% from 12,800 in Q1. Voluntary repossessions also fell - from 3,440 in Q1 2009 to 3,010 in Q2 - a decrease of 12.5% Possessed Properties Properties in Properties Properties Mortgages properties taken into possession at taken into taken into oustanding, end period sold in period end period possession in possession in possession at end period period period
2008
2009
Properties taken into possession in period % change on last period
Voluntary possessions
Voluntary possessions share
number
number
% all loans
number
% all loans
number
Q1
11,787,000
8,500
0.07
15,600
0.13
5,200
number % of posessions 1,200
14.1
Q2
11,763,000
10,000
0.09
18,700
0.16
6,400
17.6
1,600
16.0
Q3
11,718,000
11,100
0.09
22,700
0.19
6,800
11.0
2,100
18.9
Q4
11,667,000
10,400
0.09
24,200
0.21
10,900
-6.3
2,530
24.3
Q1
11,107,000
12,700
0.11
23,600
0.21
12,200
14.4
3,440
27.1
Q2
11,110,000
11,400
0.10
20,600
0.19
14,300
9.6
3,010
26.4
Source: CML Research Notes:
1. Figures are estimates of arrears on all first charge loans held by CML members, both regulated and unregulated, and include buy-to-let. They do not include arrears relating to other secured lending or to firms that are not CML members. As our figures also relate to the number of borrowers rather than individual loan accounts, they will be materially lower than, and not strictly comparable with, the aggregate MLAR figures published by the FSA. 2. These estimates are based on reporting by a sample of CML members, which are then grossed up to be representative of the lending undertaken by CML members as a whole. In H1 2008 these accounted for over 95% of first charge mortgages. 3. Figures are subject to revision as we get better information about rates of growth and performance in different parts of the market, lenders report to us for the first time or re-submit earlier figures. 4. Care should be taken when looking at changes over time as lenders newly reporting figures may distort comparisons. 5. Properties in possession are not counted as arrears. Buy-to-let mortgages, where a receiver of rent has been appointed, also are not counted as arrears. 6. Arrears and possession figures are rounded to the nearest hundred. Quarterly, semi-annual and annual figures may not tally exactly due to rounding.
Council of Mortgage Lenders data Possession actions on mortgaged properties, local authority and private, England, Wales and Northern Ireland
Period
2008
2009
Q1 Q2 Q3 Q4** Q1 Q2
England & Wales Actions entered 40,880 38,993 38,078 24,675 23,968 26,419
England & Wales Orders made 14,269 15,615 15,919 14,834 7,699 8,760
England & Wales Orders suspended 12,697 14,607 13,939 12,416 8,823 10,363
Source: Ministry of Justice Notes 1. Includes all types of mortgage lenders. 2. Figures for the latest quarter are provisional. 3. The court, following a judicial hearing, may grant an order for possession immediately. This entitles the claimant to apply for a warrant to have the defendant evicted. However, even where a warrant for possession is issued, the parties can still negotiate a compromise to prevent eviction. 4. Suspended order is where the court grants the claimant possession but suspends the operation of the order. Provided the defendant complies with the terms of suspension, which usually require the defendant to pay the current mortgage or rent installments plus some of the accrued arrears, the possession order cannot be enforced. ** The Mortgage Pre Action Protocol for possession claims relating to mortgage or home purchase arrears was introduced on 19th November 2008. Its introduction has coincided with a substantial fall in the number of new mortgage possession claims. The effect of the MPAP is not visible yet on the number of mortgage possession orders, as orders are typically made around 8 weeks after claims are issued. More details are available in the recent county court possession actions bulletin available on the Ministry of Justice website.
Ministry of Justice possession claim data • The number of mortgage possession claims issued rose from 5,755 in 2004 to 11,395 in 2008. However the percentage rate of increase slowed from 50% from 2004 to 2005, to 5.95% from 2007 to 2008. • Local Authority level data just published shows a sharp decline in quarterly and annual numbers of possession claims when compared with a year ago. • The number of landlord possession claims issued in the county courts has not followed the above trend. These possessions have decreased from 12,810 in 2004 to 8,866 in 2007 then increased 2.8% to 9,120 in 2008. East Midlands Number of mortgage possession claim issued in the county courts Number of mortgage possession orders made (inc. suspended orders) in the county courts Number of Landlord possession claim issued in the county courts Number of landlord possession orders made (inc. suspended orders) in the county courts
2004 5,755
2005 8,634
2006 10,162
3,619
5,511
7,180
12,810
11,310
9,638
9,790
8,361
7,520
2007 10,755 n/av
8,866 n/av
2008 11,395 n/av
9,120 n/av
1 From 2007 court level data are available only for those courts with on site access to the Possession Claim Online system. Adjustments have been made at regional level to correct for the 'missing' orders made in other courts. Counts for HMCS areas are not supplied for this reason.
Mortgage possession claims issued in 2009 Q2 and most recent completed four-quarter period (Q3 2008 - Q2 2009) by local authority 2008 Q3 - 2009 Q2 2009 Q2
Total
% Change in total since 2008 Q2
Per 1,000 households1
Total
% Change in total since 2007 Q3 - 2008 Q2
Per 1,000 households1
Derby Leicester Nottingham Rutland
105 175 185 10
-37% -15% -38% -
1.1 1.5 1.5 0.7
470 650 855 40
-24% -19% -26% -28%
4.7 5.6 6.8 2.7
Derbyshire Amber Valley Bolsover Chesterfield Derbyshire Dales Erewash High Peak North East Derbyshire South Derbyshire
360 45 40 50 15 70 55 30 50
-29% -41% -32% -17% -31% -16% -35% -27%
1.1 0.9 1.3 1.1 0.5 1.5 1.4 0.7 1.4
1,500 210 195 190 80 275 185 145 220
-27% -37% -20% -23% -8% -28% -25% -29% -26%
4.6 4.0 6.1 4.2 2.7 5.7 4.7 3.5 5.9
Leicestershire Blaby Charnwood Harborough Hinckley and Bosworth Melton North West Leicestershire
220 45 50 20 40 15 30
-38% -18% -39% -47% -31% -55%
0.8 1.2 0.8 0.6 0.9 0.7 0.8
990 160 230 110 185 65 150
-36% -32% -33% -31% -35% -43% -45%
3.8 4.2 3.5 3.3 4.2 3.1 3.9
2009 Q2
2008 Q3 - 2009 Q2 % Change in total since 2007 Q3 - 2008 Q2
Per 1,000 households1
% Change in total since 2008 Q2
Per 1,000 households1
20
-44%
0.9
90
-37%
3.9
Lincolnshire Boston East Lindsey Lincoln North Kesteven South Holland South Kesteven West Lindsey
330 45 65 40 40 55 50 40
-29% -16% -35% -24% -11% -27% -42% -32%
1.1 1.8 1.1 1.0 0.9 1.6 0.9 1.1
1,405 185 280 165 160 235 220 160
-24% -13% -19% -39% -24% -22% -27% -25%
4.8 7.4 4.6 4.2 3.7 6.7 4.0 4.4
Northamptonshire Corby Daventry East Northamptonshire Kettering Northampton South Northamptonshire Wellingborough
450 55 40 55 60 160 25 60
-35% -48% -33% -36% -31% -34% -26% -25%
1.6 2.4 1.3 1.6 1.6 1.9 0.7 1.9
1,920 275 145 250 270 640 110 230
-23% -19% -21% -10% -17% -31% -15% -25%
6.8 12.0 4.5 7.1 7.1 7.4 3.1 7.2
Nottinghamshire Ashfield Bassetlaw Broxtowe Gedling Mansfield Newark and Sherwood Rushcliffe
355 65 65 35 45 60 55 25
-37% -37% -24% -35% -43% -29% -39% -56%
1.1 1.3 1.4 0.7 0.9 1.4 1.1 0.6
1,575 310 300 165 215 250 225 110
-29% -28% -23% -36% -22% -30% -32% -41%
4.8 6.2 6.3 3.4 4.4 5.8 4.7 2.4
Total
Oadby and Wigston
Total
HSSA 2007/08 In the East Midlands there are 1,923,438 dwellings with Nottingham, Leicester and Derby predictably having the most. Social housing accounts for 16.3% of these dwellings. The total number of vacant dwellings in the region is 62,584 of which 45.5% are classed as long term empty. The areas with the greatest proportion of long term empty properties are • Bolsover - 91% • East Northamptonshire - 96.1% • Newark and Sherwood -91.6% The East Midlands has seen a -0.4% drop in total households on the housing waiting list as of 1st April 2005 to 2008. Dwellings
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Total Private Social 53,667 46,764 6,903 51,127 42,614 8,513 49,392 41,384 8,008 38,356 35,442 2,914 33,651 27,313 6,338 27,537 22,149 5,388 48,453 42,554 5,899 66,777 58,614 8,163 47,998 36,658 11,340 24,821 19,306 5,515 32,154 27,641 4,513 104,470 83,604 20,866 32,229 28,531 3,698 64,309 57,479 6,830 36,472 31,476 4,996 49,086 42,582 6,504 49,901 44,588 5,313 34,245 32,178 2,067 40,119 34,961 5,158 45,765 40,956 4,809 40,289 35,106 5,183 123,807 90,474 33,333 41,443 32,161 9,282 46,768 37,947 8,821 21,270 18,861 2,409 50,102 42,239 7,863 40,842 32,016 8,826 45,959 40,457 5,502 39,534 33,654 5,880 89,826 73,597 16,229 127,563 88,808 38,755 22,442 20,655 1,787 46,532 42,210 4,322 15,592 13,298 2,294 38,480 34,793 3,687 37,554 32,945 4,609 57,575 49,776 7,799 35,398 31,721 3,677 32,412 26,719 5,693 39,521 35,021 4,500 1,923,438 1,609,252 314,186
Vacant dwellings
Total Private 1,930 1,871 1,770 1,545 2,706 2,576 1,324 1,273 788 741 946 853 1,086 1,049 903 738 1,478 1,259 250 133 864 817 3,864 3,391 1,400 1,369 2,599 2,446 1,084 1,078 1,069 920 2,125 1,996 631 596 1,196 1,152 1,063 1,008 915 821 5,585 4,828 1,480 1,400 2,260 1,939 460 412 694 636 1,092 958 1,653 1,320 780 667 3,366 3,139 6,303 5,135 332 316 1,301 1,166 809 780 970 949 683 637 1,545 1,453 690 672 499 376 2,091 1,918 62,584 56,333
Social 59 225 130 51 47 93 37 165 219 117 47 473 31 153 6 149 129 35 44 55 94 757 80 321 48 58 134 333 113 227 1,168 16 135 29 21 46 92 18 123 173 6,251
Vacant 6 months + 922 1,210 594 217 717 710 543 620 680 47 420 1,821 792 852 1,042 120 718 444 656 495 595 2,655 665 1,061 116 636 350 610 54 1,242 2,953 220 618 166 437 339 624 347 362 815 28,485
% long term empty 47.8 68.4 22.0 16.4 91.0 75.1 50.0 68.7 46.0 18.8 48.6 47.1 56.6 32.8 96.1 11.2 33.8 70.4 54.8 46.6 65.0 47.5 44.9 46.9 25.2 91.6 32.1 36.9 6.9 36.9 46.9 66.3 47.5 20.5 45.1 49.6 40.4 50.3 72.5 39.0 45.5
HSSA 2007/08 Total households on the housing waiting list at 1st April Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
2005 3,370 3,829 5,750 2,340 1,807 1,842 2,502 1,690 3,594 3,404 2,425 9,698 2,507 5,056 1,195 0 4,849 1,254 2,710 1,643 2,794 11,482 3,910 9,784 1,208 3,500 2,514 1,955 2,424 6,681 11,329 1,174 1,534 586 728 2,360 6,509 1,633 1,810 1,715 139,100
2006 2007 3,170 2,982 4,364 4,602 6,111 5,780 1,064 1,569 2,509 2,800 1,882 1,026 2,508 2,293 2,173 2,144 4,334 5,217 2,432 2,782 1,744 1,919 12,648 7,654 2,600 1,591 5,136 5,331 1,286 1,083 1,633 2,482 5,218 3,251 1,355 1,571 3,235 1,878 1,662 1,793 2,939 3,753 8,654 10,451 3,467 2,272 5,626 7,575 1,208 492 5,062 6,392 2,501 2,730 2,518 2,301 1,856 2,554 5,355 4,833 13,201 14,159 1,316 1,604 1,442 1,535 546 768 1,085 1,180 1,862 1,432 2,661 5,156 1,749 1,935 1,928 1,558 1,783 1,993 135,829 136,428
Total LA dwellings let to homeless households in priority need
2008 2004/05 2005/06 2006/07 1,875 0 0 0 4,462 36 44 37 5,184 75 73 46 2,016 33 24 2 2,499 69 85 86 1,693 0 0 0 2,448 11 0 4 1,992 144 97 98 5,803 217 195 135 2,241 4 20 25 1,948 5 15 22 9,732 496 464 380 2,219 0 0 0 5,453 0 0 0 1,319 0 0 0 2,386 0 0 0 4,074 61 58 41 1,636 13 11 20 2,981 128 60 132 1,167 47 28 48 3,123 59 83 78 6,925 551 233 184 3,102 147 146 146 7,836 0 59 75 690 11 13 26 8,046 88 148 92 2,921 68 7 16 2,193 48 41 34 1,120 131 145 84 5,849 310 285 297 15,668 1,062 761 541 1,083 39 26 26 1,451 0 0 0 836 16 14 16 1,410 148 48 50 1,918 108 74 67 4,500 65 138 289 1,642 22 40 45 1,243 140 125 108 1,861 0 0 0 138,553 4,352 3,560 3,250
2007/08 0 32 58 15 105 0 2 103 83 46 2 195 0 0 0 0 62 15 81 34 83 116 141 85 25 89 54 100 33 238 662 22 0 16 36 46 252 30 57 0 2,918
Valuation Office Agency - Local Housing Allowance May 2009 The highest Local Housing Allowance rates for the broad rental market areas seem to be towards the south of the region with the cheapest areas being mainly situated centrally and towards the north namely Derbyshire and Nottinghamshire. Local Housing Allowance is based on the average rent in a Broad Rental Market Area for each category of property. Categories range from shared accommodation to 5+ bedroom properties. Broad Rental Market Area
Cherwell Valley Chesterfield Derby Doncaster Eastern Staffordshire Grantham & Newark Grimsby Leicester & Surrounds Lincoln Lincolnshire Fens Milton Keynes North Nottingham Northampton Northants Central North-East Greater Manchester Nottingham Nuneaton & Hinckley Peaks & Dales Peterborough Rugby & East Scunthorpe Sheffield Southern Greater Manchester Wolds and Coast
1 Room (shared) £80.77 £54.00 £49.00 £54.00 £60.00 £60.00 £56.00 £59.00 £49.00 £60.00 £71.54 £54.00 £53.00 £60.00 £58.27 £65.00 £60.23 £65.00 £75.00 £65.00 £56.00 £65.00 £65.00 £68.00
1 Bedroom
£121.15 £92.31 £80.77 £80.77 £91.15 £83.08 £75.00 £93.46 £86.54 £91.15 £121.15 £77.31 £103.85 £91.15 £91.15 £91.15 £91.15 £98.08 £98.08 £98.08 £70.00 £91.15 £103.85 £76.00
2 3 4 5 Bedrooms Bedrooms Bedrooms Bedrooms £150.00 £103.85 £107.31 £94.85 £109.62 £105.00 £91.15 £115.38 £103.85 £111.92 £150.00 £95.77 £126.92 £114.23 £103.85 £109.62 £114.23 £121.15 £126.92 £121.15 £92.31 £110.00 £126.92 £96.92
£173.08 £121.15 £126.92 £109.62 £126.92 £121.15 £95.00 £132.69 £120.00 £126.92 £173.08 £109.62 £138.46 £129.23 £126.35 £121.15 £126.92 £137.31 £144.23 £144.23 £103.85 £121.15 £150.00 £114.23
£219.23 £155.77 £183.46 £150.00 £173.08 £167.31 £138.46 £178.85 £155.77 £158.08 £251.54 £150.00 £196.15 £173.08 £160.38 £183.46 £183.46 £160.96 £196.15 £196.15 £141.35 £160.38 £196.15 £138.46
£300.00 £178.27 £218.66 £178.85 £184.62 £223.85 £166.73 £229.62 £184.62 £173.08 £298.85 £189.81 £259.62 £222.12 £196.15 £229.62 £219.23 £227.89 £276.92 £276.92 £196.15 £189.81 £288.46 £138.46
Average
£159.81 £107.66 £91.84 £100.93 £118.23 £114.69 £91.01 £118.02 £108.79 £118.34 £160.83 £102.20 £117.46 £124.03 £112.23 £105.63 £118.08 £123.91 £139.09 £121.71 £94.24 £104.07 £136.40 £96.95
Local Housing Allowance is based on the median rent for each category. Average rents are the sum of all data collected by VOA divided by the number of records
Experian house type and tenure data - 2007
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton
Households 52,284 49,658 48,367 37,804 31,959 26,236 48,122 65,564 45,416 34,810 32,040 100,432 30,099 62,215 51,707 48,253 49,082 34,033 39,547 44,182 44,758 117,308 44,960 43,394 20,621 56,730 42,320 49,592 38,121 84,983
Detached 11,852 6,217 11,441 11,280 3,859 4,131 10,310 17,662 6,033 4,017 14,030 14,747 14,499 14,892 17,793 8,873 11,807 16,206 10,918 13,197 10,229 7,486 3,985 5,717 7,713 16,054 9,790 13,011 11,845 17,244
House type - No Semidetached Bungalow Terraced 11,524 19,308 7,591 13,944 20,751 6,630 10,564 17,590 6,092 3,769 15,970 5,759 9,950 12,446 4,455 5,138 8,964 5,916 11,011 16,291 6,915 10,656 24,516 7,979 11,638 17,532 5,552 10,075 15,557 2,829 2,889 9,962 4,110 28,467 35,699 10,524 1,967 8,220 3,928 6,501 17,810 18,622 8,614 16,508 6,283 13,349 17,977 6,181 10,982 16,486 6,688 2,452 9,691 4,341 7,686 13,742 4,185 6,291 15,961 6,853 11,220 14,873 5,561 44,790 41,665 5,550 15,474 15,344 3,909 11,385 17,378 5,998 2,503 6,785 2,694 12,642 17,169 7,550 6,514 17,749 6,947 5,004 17,848 12,247 5,993 13,804 5,203 20,422 28,367 9,026
Flats 1,965 2,083 2,646 982 1,235 2,066 3,554 4,691 4,649 2,356 1,032 10,933 1,495 4,370 2,448 1,822 3,082 1,307 2,971 1,845 2,843 17,810 6,258 2,932 903 3,278 1,293 1,455 1,282 9,918
Owneroccupied 41,550 35,249 34,093 34,064 21,479 18,249 37,342 52,202 29,543 19,945 27,396 64,263 26,674 46,686 42,622 38,507 40,199 30,624 32,201 38,723 34,252 63,243 25,681 28,697 17,559 42,558 31,457 40,420 31,547 58,153
Tenure - No Private rented 3,767 3,711 3,991 1,559 2,748 2,854 4,287 6,258 3,646 2,016 1,494 12,512 1,648 9,002 3,900 3,518 3,125 1,507 3,068 2,480 3,625 20,226 7,692 3,348 1,234 4,619 2,189 4,985 2,620 9,588
Social rented 6,931 10,666 10,263 2,166 7,712 5,123 6,481 7,073 12,227 12,864 3,140 23,632 1,772 6,490 5,159 6,215 5,743 1,896 4,258 2,960 6,879 33,840 11,589 11,351 1,811 9,521 8,650 4,171 3,943 17,245
Experian house type and tenure data - 2007
Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire
Households 124,576 22,912 46,176 15,233 37,401 42,039 55,911 44,399 32,076 36,949 1,932,269
Households 52,284 49,658 48,367 37,804 31,959 26,236 48,122 65,564 45,416 34,810 32,040 100,432 30,099 62,215 51,707
Detached 7,383 5,625 19,458 7,022 12,729 8,175 17,202 22,791 6,949 10,764 444,936
House type - No Semidetached Bungalow Terraced 36,663 47,313 7,323 3,469 9,078 3,812 5,151 13,139 5,390 1,153 4,291 1,923 6,297 12,830 4,553 5,349 15,177 11,751 8,725 18,557 8,615 2,234 12,917 5,543 6,633 12,025 4,371 5,600 11,974 7,274 679,264 256,673 404,688
Detached 22.7 12.5 23.7 29.8 12.1 15.7 21.4 26.9 13.3 11.5 43.8 14.7 48.2 23.9 34.4
House type - % Semidetached Bungalow Terraced 36.9 14.5 22.0 41.8 13.4 28.1 36.4 12.6 21.8 42.2 15.2 10.0 38.9 13.9 31.1 34.2 22.5 19.6 33.9 14.4 22.9 37.4 12.2 16.3 38.6 12.2 25.6 44.7 8.1 28.9 31.1 12.8 9.0 35.5 10.5 28.3 27.3 13.1 6.5 28.6 29.9 10.4 31.9 12.2 16.7
Flats 25,853 920 2,995 833 970 1,569 2,775 888 2,077 1,304 145,688
Owneroccupied 49,602 19,961 39,866 12,852 31,695 33,088 44,377 41,435 23,834 28,920 1,410,808
Tenure - No Private rented 25,396 1,123 3,289 1,450 2,098 4,348 4,557 1,358 2,296 3,978 187,110
Social rented 49,556 1,821 3,019 929 3,593 4,584 6,946 1,581 5,938 4,044 333,782
Flats 3.8 4.2 5.5 2.6 3.9 7.9 7.4 7.2 10.2 6.8 3.2 10.9 5.0 7.0 4.7
Owneroccupied 79.5 71.0 70.5 90.1 67.2 69.6 77.6 79.6 65.0 57.3 85.5 64.0 88.6 75.0 82.4
Tenure - % Private rented 7.2 7.5 8.3 4.1 8.6 10.9 8.9 9.5 8.0 5.8 4.7 12.5 5.5 14.5 7.5
Social rented 13.3 21.5 21.2 5.7 24.1 19.5 13.5 10.8 26.9 37.0 9.8 23.5 5.9 10.4 10.0
Experian house type and tenure data - 2007
Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Households 48,253 49,082 34,033 39,547 44,182 44,758 117,308 44,960 43,394 20,621 56,730 42,320 49,592 38,121 84,983 124,576 22,912 46,176 15,233 37,401 42,039 55,911 44,399 32,076 36,949 1,932,269
Detached 18.4 24.1 47.6 27.6 29.9 22.9 6.4 8.9 13.2 37.4 28.3 23.1 26.2 31.1 20.3 5.9 24.6 42.1 46.1 34.0 19.4 30.8 51.3 21.7 29.1 23.0
House type - % Semidetached Bungalow Terraced 37.3 12.8 27.7 33.6 13.6 22.4 28.5 12.8 7.2 34.7 10.6 19.4 36.1 15.5 14.2 33.2 12.4 25.1 35.5 4.7 38.2 34.1 8.7 34.4 40.0 13.8 26.2 32.9 13.1 12.1 30.3 13.3 22.3 41.9 16.4 15.4 36.0 24.7 10.1 36.2 13.6 15.7 33.4 10.6 24.0 38.0 5.9 29.4 39.6 16.6 15.1 28.5 11.7 11.2 28.2 12.6 7.6 34.3 12.2 16.8 36.1 28.0 12.7 33.2 15.4 15.6 29.1 12.5 5.0 37.5 13.6 20.7 32.4 19.7 15.2 35.2 13.3 20.9
Flats 3.8 6.3 3.8 7.5 4.2 6.4 15.2 13.9 6.8 4.4 5.8 3.1 2.9 3.4 11.7 20.8 4.0 6.5 5.5 2.6 3.7 5.0 2.0 6.5 3.5 7.5
Owneroccupied 79.8 81.9 90.0 81.4 87.6 76.5 53.9 57.1 66.1 85.2 75.0 74.3 81.5 82.8 68.4 39.8 87.1 86.3 84.4 84.7 78.7 79.4 93.3 74.3 78.3 73.0
Tenure - % Private rented 7.3 6.4 4.4 7.8 5.6 8.1 17.2 17.1 7.7 6.0 8.1 5.2 10.1 6.9 11.3 20.4 4.9 7.1 9.5 5.6 10.3 8.2 3.1 7.2 10.8 9.7
Social rented 12.9 11.7 5.6 10.8 6.7 15.4 28.8 25.8 26.2 8.8 16.8 20.4 8.4 10.3 20.3 39.8 7.9 6.5 6.1 9.6 10.9 12.4 3.6 18.5 10.9 17.3
CLG Housebuilding
• In the East Midlands dwellings started have steadily increased from the low of 1,030 in Q4 2008 to 1,830 in Q2 2009. Dwelling completions in Q2 (4,540) were at their highest level since Q2 2007 (4,520) • Derbyshire had the least total house starts during 2007/08 at 2,330 dwellings compared to Lincolnshire who had the most with 3,750 starts. • Housebuilding starts by RSL’s rose dramatically from 670 in 2007 to 1,420 in 2008. In the same period private housebuilding starts slumped from 14,630 to 7,380 • RSL’s in Leicestershire reported the least amount of house starts in 2007/08 at just 60, however they had the second highest number of dwellings completed at 250. • Northamptonshire RSL’s completed on the most housebuilding during the 2008/08 period at 510 dwellings but had the lowest completions in private enterprise. Housebuilding: permanent dwellings started and completed, by tenure and district, 2007/08
Quarters covered EAST MIDLANDS Nottinghamshire Ashfield Bassetlaw Broxtowe Gedling Mansfield Newark and Sherwood Nottingham Rushcliffe Northamptonshire Corby Daventry East Northamptonshire Kettering Northampton South Northamptonshire Wellingborough
4 4 4 4 4 4 4 4 4 4 4 4 4 4 3
Private enterprise 13,890 2,880 481 386 152 337 288 343 477 415 2,360 619 185 286 542 400 215 99
Dwellings started Registered social Local landlords authority 720 90 69 0 0 0 6 0 8 0 0 0 0 0 2 0 0 0 190 9 0 2 0 13 0 26 0 135 0 0 0 1 0
Private All enterprise 14,610 16,010 2,960 3,570 550 484 386 352 158 329 345 408 288 273 343 284 479 1,148 415 291 2,540 2,960 628 856 187 192 299 355 568 410 535 790 215 152 100 187
Dwellings completed Registered social Local landlords authority 1,370 10 220 53 0 0 0 0 0 47 0 10 0 0 0 88 0 17 0 510 0 0 36 0 81 0 54 0 258 0 14 0 71 0
All 17,380 3,780 537 352 329 455 283 284 1,236 308 3,470 856 228 436 464 1,048 166 258
CLG Housebuilding
Quarters covered Lincolnshire Boston East Lindsey Lincoln North Kesteven South Holland South Kesteven West Lindsey
Leicestershire Blaby Charnwood Harborough Hinckley and Bosworth Leicester UA Melton North West Leicestershire Oadby and Wigston Rutland Derbyshire Amber Valley Bolsover Chesterfield Derby Derbyshire Dales Erewash High Peak North East Derbyshire South Derbyshire
4 4 4 4 4 4 4
4 4 4 4 4 4 4 4 3 4 1 2 4 4 4 4
Private enterprise 3,510 310 610 498 532 521 638 403
2,970 226 548 297 435 714 259 51 20 130 2,170 275 167 106 436 72 271 78 146 394
Dwellings started Registered social Local landlords authority 240 37 0 149 0 0 0 0 0 0 0 32 0 18 0
60 0 12 7 8 18 0 0 5 9 160 24 21 0 0 14 38 0 9 50
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Private All enterprise 3,750 3,520 347 253 759 602 498 381 532 605 521 476 670 765 421 433
3,030 226 560 304 443 732 259 51 25 139 2,330 299 188 106 436 86 309 78 155 444
2,990 243 524 450 412 574 66 208 44 76 2,980 386 145 251 522 134 197 190 274 569
Dwellings completed Registered social Local landlords authority 200 10 57 0 73 0 0 0 0 0 42 5 28 0 3 0
250 71 21 33 3 61 0 10 25 21 190 27 4 13 39 23 69 0 19 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
All 3,720 310 675 381 605 523 793 436
3,230 314 545 483 415 635 66 218 69 97 3,170 413 149 264 561 157 266 190 293 569
CLG Housebuilding House building: permanent dwellings started and completed, by tenure - East Midlands Started Registered Social Local Landlords Authorities 60 320 110 40 -
2004 Q1 Q2 Q3 Q4
Private Enterprise 4,610 4,900 4,510 3,860
2005 Q1 Q2 Q3 Q4
4,360 5,010 4,360 3,500
130 210 150 140
2006 Q1 Q2 Q3 Q4
4,700 4,970 4,300 3,910
200 220 190 310
2007 Q1 Q2 Q3 Q4
3,890 3,550 3,890 3,300
190 150 180 150
2008 Q1 Q2 Q3 Q4
3,150 2,090 1,310 830
250 500 470 200
2009 Q1 Q2
1,100 1,580
250 250
50 30 20 20 30 -
All Dwellings 4,670 5,220 4,620 3,900
Completed Registered Private Social Local All Enterprise Landlords Authorities Dwellings 3,180 230 3,410 3,470 230 3,710 3,390 170 3,550 4,360 150 4,510
4,490 5,270 4,510 3,670
3,440 3,830 4,070 4,470
260 300 350 330
4,920 5,190 4,490 4,230
3,210 4,610 3,580 4,120
230 360 520 150
4,090 3,690 4,070 3,450
4,350 4,180 3,870 4,710
270 340 300 390
3,400 2,630 1,780 1,030
3,250 3,260 2,000 2,330
350 350 330 530
1,350 1,830
2,040 3,840
260 700
50 20
3,700 4,180 4,420 4,820
30
3,460 4,970 4,100 4,270
20 -
4,650 4,520 4,160 5,100
-
50 -
3,610 3,650 2,330 2,860 2,310 4,540
Housing Market Report August 2009
Contents 1. Summary 2. Land Registry House Price Index 3. CLG House Price Index 4. Other indices: •
Nationwide
•
Halifax
•
Zoopla
5. Hi4em analysis of 2008 Land Registry data: •
Average prices
•
Sales volumes 2004 to 2008
6. Hi4em analysis of 2009 Land Registry data - quarter 1 and quarter 2 average prices 7. Summary of house price data and indices 8. Council of Mortgage Lenders: •
Loans, buyers and affordability
•
Repossession of mortgaged properties
9. Ministry of Justice possession claims 10. HSSA annual data: •
Dwellings and vacant dwellings by tenure
•
Waiting lists and homelessness
11. Valuation Office Agency – Local Housing Allowance rates 12. Experian house type and tenure annual data 13. CLG house building data
David George Hi4em, Derby City Council, Bio House, Derwent Street, Derby DE1 2ED Tel: 01332 255161 Fax: 01332 255162 Email [email protected]
Housing Market Report August 2009
Summary The data used in this report was the latest available at the time of compilation (20 August 2009) and has undergone an analysis by Hi4em - Housing Intelligence for the East Midlands. In summary: • Annually calculated average house prices continued to fall in June 09 although a three month analysis of raw Land Registry data shows a slight increase in the average price paid in April, May and June when compared with prices paid in the first three months of the year • In 2008 the East Midlands saw a greater fall in house prices on average compared to the rest of the UK however the decline begins to fall in line with national averages during 2009. • Affordability of property has increase for First Time Buyers but mortgage advances and wage multipliers have decreased • The East Midlands, as a whole, varies greatly in the affordability of all types of property – The average price you pay for a detached home can vary as much as £214,389 between Rutland and Boston. • The average number of mortgages written per month significantly dropped between Q3 2008 and Q1 2009 however it appears this trend is being sharply reversed • Private enterprise house building has slowed across the region between 2005 and 2009 however social landlords appear to be continuing to build in this period.
In early August a number of respected commentators gave their view of the current housing market : • The Royal Institution of Chartered Surveyors said it was revising its 2009 house price forecast from a fall of between 10% and 15% to a slight rise. But it warned that the property market would continue to face "significant challenges" during 2010 and did not indicate a quick return to the boom time, as activity remained very weak by historical standards. • Gary Smith, president of the NAEA, said: "Estate agents expect a drop in activity over the summer months, but there is no doubt that the market is in a considerably stronger position than a year ago. "Agents sold more (properties) in July than in any month last year. That is concrete evidence that the housing market, while not recovered, has potentially been through the worst." • Benjamin Williamson, an economist at the Centre for Economics and Business Research, said: "The key question now is the extent to which rising unemployment and weak wage growth will lead to a second wave of house price falls, or whether this has already been built in to existing expectations. • Rightmove said buyers were continuing to return to the market, with the group recording its busiest ever month (July 09) for traffic, despite the fact that there is usually a fall in househunting activity during the summer, as potential buyers go on holiday. • Gary Murphy, the auctioneer at Allsop, agrees: “It is a buyers’ market and those investors with cash are taking advantage of it.” • Peter Redfern, chief executive of Taylor Wimpey, has said there is no evidence for a second drop in the housing market. • David Orr, chief executive of the National Housing Federation, said: "Our new research shows that while house prices are falling in the short term, they will inevitably increase in the long term because of a fundamental under-supply of housing.
Land Registry House Price Index • The average price of all property transactions completed in the East Midlands in June 09 was 1.1% lower than in May 09. • The prices have fallen each month with the exception of Jan 09 which saw a very small increase (0.1%) followed by further declines. There was annual price change of minus 15.3% (June 08-june 09), with the average house price as of June 09 being £119,849. • The data suggests that the sharpest falls are behind us and that the rate of decline has now slowed significantly, between Jan 09 and Feb 09 the monthly price change was -3% now it has slowed to -1.1% between May 09 and June 09 • Sales Volume has been more sporadic, the data shows both increases and decreases month by month however overall from June 08 sales volume was 4951 units and in April 09 it was 36.6% less at 3134 units.
Sales volume data for the two most recent months are not used as comparisons due to the lag in the registration of sold properties.
Land Registry House Price Index House Price Index report - East Midlands Region (June 2008 - June 2009)
Index Month
Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09
Average
Monthly Annual Sales Change Change (%) Price (£) (%) Volume 254.6 141,473 -2.3 -2.2 4,951 251.4 139,719 -1.2 -5.4 4,399 245 136,161 -2.5 -7 4,052 239 132,839 -2.4 -10.1 3,521 234.5 130,317 -1.9 -11.5 3,899 229.8 127,715 -2 -13.6 3,135 225 125,045 -2.1 -13.9 3,565 225.1 125,114 0.1 -14.6 2,195 218.4 121,385 -3 -16.8 2,179 216.3 120,232 -1 -16.4 3,083 219.5 121,996 1.5 -15 3,134 218 121,154 -0.7 -16.3 215.6 119,849 -1.1 -15.3 -
Land Registry House Price Index Household type breakdown - East Midlands Region (June 2008 - June 2009)
Detached (£)
SemiTerraced Maisonette/ All (£) Detached (£) Flat (£) (£)
Month
Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09
221,703 218,956 213,380 208,174 204,222 200,143 195,959 196,068 190,225 188,418 191,181 189,863 187,818
120,045 118,557 115,538 112,719 110,580 108,371 106,106 106,164 103,001 102,022 103,518 102,804 101,697
93,038 91,885 89,545 87,361 85,702 83,991 82,235 82,280 79,828 79,070 80,230 79,676 78,818
100,398 99,153 96,628 94,271 92,481 90,634 88,740 88,789 86,143 85,324 86,576 85,979 85,053
141,473 139,719 136,161 132,839 130,317 127,715 125,045 125,114 121,385 120,232 121,996 121,154 119,849
The table and graph show the monthly average sale price by house type in the East Midlands in the past year. Each line on the graph relates to the colour coded area below the line. The Land Registry House Price Index (HPI) captures changes in the value of residential properties. The HPI is published by Land Registry using sales data collected on all residential housing transactions, whether for cash or with a mortgage, in England and Wales since January 1995. Our HPI uses a sample size that is larger than all other statistical measures available. The Land Registry data set is the only complete record of residential property transactions in England and Wales. The HPI is calculated by using Land Registry's own 'Price Paid Dataset'. This is a record of all residential property transactions made in England and Wales since January 1995. At present it contains details on over 15 million sales. Of these, over five million are identifiable matched pairs, providing the basis for the repeatsales regression analysis used to compile the index. This technique of quality adjustment ensures an ‘apples to apples’ comparison between properties.
CLG Index
Prices regionally in the East Midlands and nationally continue to decline on both a monthly and an annual basis. The East Midlands showed the sharpest percentage decline in house price index compared to England and UK wide statistics for the second half of 2008. However, after Feb 09 the East Midlands fell in line with the UK and England and the decline slowed.
Mix-adjusted average house prices All dwellings East Midlands
England
UK
£169,019 £168,372 £163,333 £162,888 £158,017 £156,757 £154,153
£221,763 £221,861 £215,660 £215,342 £210,164 £206,282 £201,676
£215,029 £214,867 £208,892 £208,583 £203,580 £199,933 £195,317
£149,887 £149,746 £148,813 £147,291 £149,262 £149,580
£200,761 £195,527 £192,625 £193,615 £193,728 £197,079
£195,114 £189,747 £187,193 £188,162 £188,466 £191,423
2008 Jun Jul Aug Sep Oct Nov Dec 2009 Jan Feb Mar Apr May June
Mix-adjusted house price index and annual house price change All dwellings % change East % change % change UK Midlands England UK
East Midlands
England
186.0 185.3 179.7 179.3 173.9 172.5 169.6
175.2 175.3 170.4 170.2 166.1 163.0 159.4
180.4 180.2 175.2 175.0 170.8 167.7 163.8
-1.1 -1.6 -6.2 -7.0 -9.5 -9.9 -11.5
0.5 -1.4 -4.5 -5.1 -7.3 -8.6 -10.4
0.6 -1.4 -4.6 -5.1 -7.4 -8.5 -10.2
166.1 166.0 164.9 163.3 165.4 165.8
159.5 155.3 153.0 153.8 153.9 156.5
164.2 159.7 157.5 158.4 158.6 161.1
-14.1 -12.7 -13.2 -12.5 -11.1 -10.9
-11.8 -12.4 -13.8 -13.2 -12.8 -10.7
-11.5 -12.3 -13.6 -13.0 -12.5 -10.7
2008 Jun Jul Aug Sep Oct Nov Dec 2009 Jan Feb Mar Apr May June
Nationwide Indices
First Time buyers Affordability in the East Midlands has improved with the index of the proportion of take home pay spent on mortgage payments declining slowly from 141.4 at its peak in Q3 2007 to 108.4 in Q4 2008 These figures are slightly higher than those experienced by first times buyers, as a whole, throughout the UK. Q1 2009 saw the lowest gross house price to earnings ratio in both the East Midlands and across the UK since Q1 2004. The ratio for the East Midlands in Q1 2009 was 3.4, which had previously peaked at 4.7
East Midlands £ index Q1 2004 Q2 2004 Q3 2004 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009
£128,579 £137,684 £141,625 £141,966 £141,756 £143,646 £144,764 £141,983 £143,840 £146,521 £149,783 £150,921 £152,560 £156,512 £156,924 £155,141 £153,066 £147,413 £141,572 £133,102 £126,673 £130,579
283.6 303.7 312.4 313.1 312.6 316.8 319.3 313.1 317.2 323.2 330.3 332.9 336.5 345.2 346.1 342.2 337.6 325.1 312.2 293.6 279.4 288.0
First time buyers Index of mortgage payments as a Gross house price percentage of to earnings ratio UK takehome pay £ index E Mids UK E Mids UK £139,027 277.3 110.9 94.1 4.3 4.4 £148,462 296.2 124.2 104.0 4.7 4.7 £153,482 306.2 130.4 110.9 4.7 4.8 £152,464 304.1 132.8 113.8 4.7 4.8 £152,790 304.8 130.1 112.5 4.6 4.8 £157,494 314.2 129.3 112.0 4.6 4.8 £157,627 314.4 127.2 109.9 4.6 4.8 £157,387 314 121.6 106.1 4.5 4.7 £160,319 319.8 125.2 109.4 4.6 4.8 £165,035 329.2 125.0 111.7 4.6 4.9 £168,460 336.1 127.7 114.0 4.6 4.9 £172,065 343.2 130.0 118.3 4.6 5.0 £175,554 350.2 133.3 122.8 4.7 5.1 £181,810 362.7 138.7 131.2 4.8 5.4 £184,131 367.3 141.4 134.8 4.7 5.4 £183,959 367 140.3 136.2 4.6 5.4 £179,363 357.8 136.9 129.3 4.6 5.2 £174,514 348.1 123.9 119.8 4.2 4.9 £165,188 329.5 123.3 118.4 4.1 4.7 £156,828 312.9 108.4 105.7 3.8 4.4 £149,709 298.7 not available 3.5 4.1 £154,066 307.3 not available 3.6 4.2
House Prices Since 1952 - Notes: The Nationwide house price methodology has developed over time and this needs to be considered when interpreting the long run series of house prices. Maintenance in terms of updating weights for the mix-adjustment process is carried out at regular intervals. Significant developments include: 1952 - 1959 Q4 Simple average of purchase price. 1960 Q1 - 1973 Q4 - weighted average using floor area (thus allowing for the influence of house size). 1974 Q1 - 1982 Q4 - weighted averages using floor area, region and property type. 1983 Q1 - Development of new house price methodology. A statistical ‘regression’ technique was introduced under guidance of ‘Fleming and Nellis’ (Loughborough University and Cranfield Institute of Technology). This was introduced in 1989 but data was revised back to 1983 Q1. 1993 - Information about neighbourhood classification (ACORN) used in the model were significantly updated following Census 1991 publication - regular updates since but typically for new postcodes. Mortgage payments index - based on 1985 averages
Halifax Index
East Midlands index 2004 Q1 2004 Q2 2004 Q3 2004 Q4 2005 Q1 2005 Q2 2005 Q3 2005 Q4 2006 Q1 2006 Q2 2006 Q3 2006 Q4 2007 Q1 2007 Q2 2007 Q3 2007 Q4 2008 Q1 2008 Q2 2008 Q3 2008 Q4 2009 Q1 2009 Q2
505.8 552.3 559.9 558.6 566.7 562.1 560.0 570.7 588.1 596.0 593.8 621.2 622.0 636.7 648.6 627.3 640.3 591.1 557.4 538.2 519.0 512.8
% change 5.0 9.2 1.4 -0.2 1.5 -0.8 -0.4 1.9 3.0 1.3 -0.4 4.6 0.1 2.4 1.9 -3.3 2.1 -7.7 -5.7 -3.5 -2.5 -1.2
Ave price £132,213 £144,353 £146,348 £146,007 £148,126 £146,915 £146,376 £149,164 £153,706 £155,776 £155,199 £162,374 £162,567 £166,410 £169,528 £163,976 £167,361 £154,510 £145,703 £140,671 £135,873 £134,038
UK index 480.3 508.4 522.0 523.5 526.9 526.8 537.7 550.3 560.4 574.9 581.7 606.0 623.5 639.4 646.5 638.8 630.2 597.9 564.6 535.4
517.9 507.9
% change 5.5 5.9 2.7 0.3 0.6 0.0 2.1 2.3 1.8 2.6 1.2 4.2 2.9 2.5 1.1 -1.2 -1.4 -5.1 -5.6 -5.2
Ave price £148,399 £157,091 £161,279 £161,742 £162,785 £162,783 £166,141 £170,043 £173,148 £177,643 £179,721 £187,250 £192,651 £197,562 £199,766 £197,388 £194,717 £184,733 £174,453 £165,412 -3.1 £160,678 -1.9 £156,944
The Halifax index was set at 100 in 1983. This index is seasonally adjusted Halifax statement: The Halifax House Price Index is prepared from information that we believe is collated with care, but we do not make any statement as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time for regulatory or other reasons. Persons seeking to place reliance on the indices for their own or third party commercial purposes do so at their own risk.
zoopla. co.uk All counties in the East Midlands showed a sharp decline in the annual average house prices. The greatest percentage change in average house prices between June 08 and June 09 was in Rutland (minus 16.84%) followed by Northamptonshire (minus 12.41%). Leicestershire showed the least change at minus 7.64%
Derbyshire Leicestershire Lincolnshire Northamptonshire Nottinghamshire Nottingham Rutland East Midlands
Jun-08 Average price No of sales £151,518 5,781 £161,372 5,448 £148,342 5,094 £162,730 4,676 £128,954 2,646 £141,918 4,783 £259,312 235 £164,878 28,663
Jun-09 Average price % change £133,970 -10.32 £147,702 -7.64 £131,559 -10.23 £141,313 -11.66 £112,342 -11.23 £126,628 -9.8 £223,765 -12.41 £145,326 -13.45
Land Registry average price data 2008 Of the 40 local authorities in the East Midlands, 35 recorded price falls on an annual basis with Blaby, Hinckley and Bosworth, Melton, Oadby and Wigston and South Holland all showing the highest percentage price fall from 2007 to 2008. The 5 local authorities with the cheapest average house prices are: Ashfield, Mansfield, Nottingham, Bolsover, Lincoln. The 5 local authorities who have the cheapest ‘lower quartile’ house price are: Ashfield, Mansfield, Nottingham, Bassetlaw, Erewash, The price maps show that the cheapest average priced properties seem to be clustered around Lincolnshire and Nottinghamshire (with the exception of Rushcliffe which bucks the trend) The local authorities with the most expensive average house prices are: Daventry, Derbyshire Dales, Harborough, Rutland, South Northamptonshire. Apart from Daventry these same local authorities also have the most expensive ‘lower quartile’ house prices.
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough
Ave price Ave price 2007 2008 £164,260 £155,763 £125,212 £118,878 £149,528 £146,490 £185,652 £172,882 £124,412 £127,361 £141,702 £137,351 £162,025 £154,500 £189,556 £183,233 £147,017 £141,405 £146,072 £145,196 £231,300 £238,096 £150,326 £142,592 £256,853 £243,962 £163,531 £152,609 £185,085 £183,827 £145,506 £137,605 £157,817 £150,037 £238,777 £230,108
% price change over 1 Detached year ave price -5.17 £228,115 -5.06 £171,159 -2.03 £222,386 -6.88 £241,276 2.37 £195,596 -3.07 £186,765 -4.64 £220,847 -3.34 £287,926 -3.82 £219,405 -0.60 £210,427 2.94 £351,999 -5.14 £229,652 -5.02 £338,128 -6.68 £195,379 -0.68 £267,511 -5.43 £208,533 -4.93 £229,927 -3.63 £327,981
Flat or
Semi ave price £135,408 £112,465 £117,188 £151,201 £113,649 £120,089 £136,419 £160,603 £124,726 £135,296 £180,604 £131,437 £199,446 £124,896 £153,807 £125,753 £128,024 £182,923
Terraced maisonnette ave price ave price £108,530 £146,191 £92,414 £76,790 £93,728 £83,756 £133,130 £109,764 £82,957 £74,983 £104,137 £94,309 £117,609 £99,295 £135,091 £119,232 £105,274 £113,048 £120,401 £97,374 £145,954 £108,513 £111,213 £111,371 £157,290 £174,693 £110,943 £82,603 £135,532 £94,166 £99,239 £97,750 £105,934 £96,024 £152,944 £134,508
Lower quartile price £100,000 £83,000 £90,000 £129,950 £92,000 £96,500 £110,000 £123,500 £98,500 £105,000 £134,000 £95,500 £149,000 £105,000 £121,000 £77,276 £100,000 £142,000
Mean house price to incomes ratio 5.35 5.07 5.27 5.77 5.06 6.17 4.79 6.48 5.23 6.17 6.91 5.24 n/a 5.92 6.31 5.38 5.18 7.46
Median house price to incomes ratio 6.44 5.97 6.27 6.74 5.76 6.82 5.94 7.31 6.07 7.11 8.61 5.83 8.54 7.35 6.99 5.79 5.98 8.46
Lower quartile house price to incomes ratio 5.74 5.63 5.25 6.95 5.71 6.28 5.84 6.69 6.06 6.66 7.26 5.47 7.35 6.51 6.52 4.80 5.43 8.08
High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Ave price Ave price 2007 2008 £183,317 £187,420 £185,022 £172,258 £161,925 £157,862 £144,980 £144,019 £137,944 £133,481 £124,208 £120,359 £207,331 £187,622 £175,261 £171,285 £167,541 £164,210 £174,634 £172,490 £176,897 £165,694 £127,982 £178,129 £227,254 £265,025 £173,081 £163,777 £188,029 £252,583 £160,748 £160,112 £167,773
£171,855 £158,438 £124,171 £163,128 £212,752 £280,691 £166,360 £152,681 £184,608 £249,626 £155,839 £161,488 £162,443
% price change over 1 Detached year ave price 2.24 £315,964 -6.90 £247,243 -2.51 £243,608 -0.66 £247,141 -3.24 £205,175 -3.10 £182,836 -9.51 £272,060 -2.27 £250,866 -1.99 £241,974 -1.23 £207,322 -2.85 -4.38 -2.98 -8.42 -6.38 5.91 -3.88 -6.78 -1.82 -1.17 -3.05 0.86 -3.18
£238,037 £244,246 £210,285 £252,388 £290,512 £376,893 £225,971 £186,734 £244,328 £327,857 £240,299 £227,377 £242,392
Flat or
Semi ave price £175,224 £151,628 £141,504 £144,672 £127,738 £108,883 £162,555 £130,029 £136,581 £137,426 £148,390 £151,742 £120,803 £150,902 £177,585 £202,449 £142,564 £131,225 £149,852 £194,666 £145,105 £124,532 £140,859
Terraced maisonnette ave price ave price £138,558 £137,969 £126,340 £104,830 £120,924 £99,628 £128,094 £108,391 £108,734 £119,790 £85,411 £105,165 £121,906 £115,408 £115,653 £95,405 £106,121 £100,642 £125,292 £116,917 £126,003 £137,222 £99,621 £123,661 £155,395 £182,277 £121,179 £113,303 £148,024 £181,419 £123,884 £97,967 £119,013
£133,692 £111,724 £122,839 £96,866 £115,888 £122,852 £112,053 £112,997 £117,005 £152,622 £98,788 £112,968 £111,726
Note: Price to incomes ratios uses ASHE gross full time employed earnings 2008. n/a = ASHE data not available KEY 5 lowest prices 5 highest prices 5 biggest increases/highest affordability ratios 5 smallest increases/lowest affordability ratios
Lower quartile price £122,500 £120,000 £110,000 £105,000 £95,000 £82,000 £122,550 £100,000 £102,000 £124,950
Mean house price to incomes ratio 6.34 6.02 5.52 6.25 4.95 5.03 n/a 5.87 6.08 6.85
Median house price to incomes ratio 7.72 7.20 6.88 7.17 6.39 5.38 7.58 7.92 6.92 8.03
Lower quartile house price to incomes ratio 6.67 6.85 6.49 6.82 5.69 5.52 7.20 6.29 5.77 7.80
£119,950 £115,000 £82,500 £119,950 £140,000 £155,500 £114,000 £118,000 £124,950 £165,000 £109,950 £97,000 £106,000
5.55 5.74 5.10 5.71 5.30 9.30 5.58 6.51 5.92 7.14 6.07 6.04 5.71
6.69 6.58 6.04 6.70 6.83 n/a 6.52 7.03 7.26 9.06 7.42 7.44 6.89
6.74 6.39 5.25 6.37 7.54 8.60 6.17 7.51 6.64 8.26 7.23 5.95 6.19
Land Registry sales volume data
The East Midlands as a whole saw a rapid decline in sales volumes/transaction made. The areas most affected by fewer homes being sold in the last year were: • Blaby (-52.42%), • East Lindsey (-52.33%), • High Peak (-54.21%), • South Holland (-54.65%) • Wellingborough (-53.73%). Even those areas that were least affected by the downturn in property sales (Erewash, Derbyshire Dales.) still saw a decline of over 42% in business transactions in the last year. The decrease in ‘New build’ property sales were more extreme at both ends of the spectrum with the worst affected areas seeing a downturn in new homes being sold of more than -61% (Bassetlaw, Bolsover and Chesterfield). Whilst new property sales in East Lindsey (3.36%) and Hinkley and Bosworth (-18.98%) didn’t fare too badly in comparison to the rest of the East Midlands and in relation to the figures for total number of properties sales.
Total No of property sales
New property sales % change
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby
2004
2005
2006
2007
2008 last year
2730 2799 2087 1943 1611 1589 2284 3484 1975 1411 1872 5106
2187 2380 1998 1599 1405 1231 1896 2910 1780 1268 1636 4547
2816 2685 2607 2070 1644 1569 2381 3928 2190 1747 1908 5513
2684 2616 2466 2043 1645 1640 2382 3846 2083 1782 1844 5306
1505 1412 1285 972 826 843 1214 1976 1011 984 944 2909
-43.93 -46.02 -47.89 -52.42 -49.79 -48.60 -49.03 -48.62 -51.46 -44.78 -48.81 -45.18
2004
2005
2006
2007
2008
262 408 152 130 113 260 144 569 260 306 203 453
204 277 304 144 136 146 203 413 253 367 171 613
270 301 404 150 181 219 264 438 267 487 191 569
158 232 267 141 113 158 242 542 192 396 130 588
80 150 104 104 36 78 121 361 59 308 56 256
% change last year
-49.37 -35.34 -61.05 -26.24 -68.14 -50.63 -50.00 -33.39 -69.27 -22.22 -56.92 -56.46
Total No of property sales
New property sales % change
Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
2004
2005
2006
2007
1236 3057 2417 2319 2514 1861 2127 2567 2607 5565 2420 2583 947 2677 1536 2617 2100 6045 6092 1086 2338 845 2401 2254 3280 2111 1875 2158 100526
1042 2345 2143 2177 1850 1724 1796 2033 2324 4542 1832 2289 897 2241 1471 2277 1841 5428 4909 950 2034 799 2010 1958 2814 1798 1646 1846 85853
1365 3184 2708 2674 2429 2062 2194 2530 3029 5723 2603 2548 1016 2771 6501 1840 2919 2312 5860 1127 2570 814 2422 2294 3626 2144 2003 2257 106583
1269 3221 2450 2428 2549 1979 1959 2273 2652 5492 2605 2372 1015 2492 1825 2776 2023 5868 5905 1001 2476 774 2333 2368 3146 1924 2012 2298 101822
KEY 5 biggest increases/highest affordability ratios 5 smallest increases/lowest affordability ratios
2008 last year 729 1634 1168 1407 1321 1061 897 1247 1309 2724 1361 1300 583 1391 887 1480 1066 2967 3,039 511 1,255 424 1248 1074 1766 998 931 1265 52924
-42.55 -49.27 -52.33 -42.05 -48.18 -46.39 -54.21 -45.14 -50.64 -50.40 -47.75 -45.19 -42.56 -44.18 -51.40 -46.69 -47.31 -49.44 -48.54 -48.95 -49.31 -45.22 -46.51 -54.65 -43.87 -48.13 -53.73 -44.95 -48.02
2004
2005
2006
2007
2008
116 294 388 95 172 220 253 326 387 689 267 357 58 542 127 395 202 615 691 94 179 172 513 433 516 411 170 364 12306
80 192 437 196 70 213 233 264 369 499 257 447 71 440 160 441 257 687 869 109 186 200 440 303 419 210 197 351 11828
151 258 512 314 173 234 360 209 629 638 450 460 85 404 837 314 524 264 1072 50 223 62 395 229 473 218 258 427 13964
64 149 286 180 185 201 166 137 384 374 324 262 52 181 207 336 158 571 661 12 229 35 368 228 314 106 205 210 9744
32 144 114 108 88 155 73 163 127 263 186 178 89 92 35 174 118 230 267 17 134 23 168 116 182 56 94 121 5260
% change last year
-50.00 -3.36 -60.14 -40.00 -52.43 -22.89 -56.02 18.98 -66.93 -29.68 -42.59 -32.06 71.15 -49.17 -83.09 -48.21 -25.32 -59.72 -59.61 41.67 -41.48 -34.29 -54.35 -49.12 -42.04 -47.17 -54.15 -42.38 -46.02
Quarterly Land Registry average prices and affordability ratios - 2009 The lower quartile house prices to income ratio peaks for the East Midlands in Harborough (7.46), South Kesteven (7.36), Rushcliffe (7.19) and North East Derbyshire (7.18) The local authorities showing the greatest change in average house prices between Q1 and Q2 2009 were: • Corby (-5.62%) • South Derbyshire (-5.12%) • Charnwood (-4.51%) • Leicester (--3.65%) • Northampton (-3.55%) Whereas those showing more resistance to the average price changes were: • Oadby and Wigston (-0.54%) • West Lindsey (-0.72%) • South Northamptonshire (-1.00%) • Lincoln (-1.06%) • Gedling (-1.06%) Ashfield showed the lowest average house prices consistently for detached, semi detached and terraced properties compared to the other 39 areas in the East Midlands. Rutland has the most expensive average house price for detached homes at £377,507, whereas Boston has the cheapest at £163,118. The average prices for flats or maisonettes vary greatly from the cheapest in • Bolsover - £68,800 • Ashfield - £71,808 • Boston - £82,012 to the most expensive in • Derbyshire Dales - £191,645 • South Kesteven - £168,283 • High Peak - £146,223
Flat or
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston
Ave price Ave price Q1 2009 Q2 2009 £153,186 £148,942 £116,916 £114,262 £142,500 £137,954 £170,217 £164,832 £122,647 £119,175 £133,949 £129,282 £152,203 £149,020 £174,613 £166,737 £136,879 £133,093 £141,554 £133,605 £236,366 £232,885 £141,234 £137,789 £237,157 £234,417 £149,484 £145,946 £179,485 £173,844 £137,427 £132,925 £148,911 £147,330 £217,795 £212,782 £185,631 £179,253 £170,803 £167,867 £154,621 £151,658 £141,844 £136,661 £131,565 £130,171 £119,047 £115,412 £178,924 £174,508 £161,155 £163,248 £165,448 £161,288 £170,218 £165,110 £174,284 £169,249 £154,773 £149,280 £123,279 £120,017 £160,043 £159,179
% price Detached change ave price -2.77 £217,706 -2.27 £168,190 -3.19 £202,226 -3.16 £230,926 -2.83 £186,179 -3.48 £163,118 -2.09 £203,350 -4.51 £258,339 -2.77 £203,164 -5.62 £190,045 -1.47 £330,486 -2.44 £218,395 -1.16 £315,955 -2.37 £180,881 -3.14 £247,447 -3.28 £207,689 -1.06 £218,534 -2.30 £294,504 -3.44 £288,430 -1.72 £236,470 -1.92 £223,033 -3.65 £226,672 -1.06 £193,405 -3.05 £171,966 -2.47 £254,577 1.30 £227,632 -2.51 £229,327 -3.00 £195,984 -2.89 £236,038 -3.55 £225,750 -2.65 £197,623 -0.54 £238,426
Semi ave price £127,015 £103,778 £110,975 £140,755 £104,671 £111,225 £133,552 £150,681 £117,270 £124,936 £164,907 £124,433 £190,050 £120,708 £143,330 £119,774 £121,648 £174,399 £155,340 £147,024 £130,247 £137,492 £123,446 £102,114 £149,858 £133,442 £122,691 £128,388 £136,843 £137,707 £114,728 £142,560
Terraced maisonnette ave price ave price £100,879 £135,858 £82,939 £71,808 £89,771 £93,593 £122,673 £107,053 £78,937 £68,800 £97,962 £82,012 £110,747 £95,504 £126,392 £113,017 £97,270 £88,331 £110,979 £96,185 £137,082 £128,769 £101,696 £101,707 £147,913 £191,645 £106,101 £90,913 £125,321 £91,857 £94,968 £89,078 £98,731 £94,788 £140,244 £116,893 £132,688 £146,223 £121,015 £99,723 £118,151 £88,378 £121,102 £99,470 £103,716 £118,523 £80,782 £104,663 £120,142 £106,719 £103,399 £92,139 £107,488 £100,627 £116,240 £102,795 £116,900 £127,017 £127,513 £105,502 £93,379 £120,572 £122,462 £97,862
Lower quartile price £84,000 £80,000 £87,000 £123,500 £77,500 £96,000 £102,000 £110,000 £80,000 £80,000 £135,000 £85,000 £137,000 £101,000 £105,000 £85,000 £96,000 £137,000 £112,000 £115,000 £103,000 £89,950 £97,000 £80,000 £106,000 £104,999 £115,000 £115,000 £109,000 £103,000 £72,500 £119,950
Lower quartile house price to incomes ratio 4.82 5.42 5.08 6.60 4.81 6.25 5.41 5.96 4.92 5.08 7.32 4.87 6.76 6.26 6.52 4.61 5.46 7.46 6.39 6.79 6.69 5.39 6.53 4.70 6.67 5.94 7.18 6.46 6.06 6.56 3.85 6.46
LQ incomes 17,413 14,747 17,130 18,710 16,118 15,369 18,844 18,452 16,260 15,761 18,447 17,453 20,275 16,125 16,111 18,425 17,576 18,354 17,528 16,943 15,396 16,693 14,844 17,014 15,892 17,677 16,021 17,792 17,997 15,710 18,839 18,577
Flat or
Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Ave price Ave price Q1 2009 Q2 2009 £210,981 £208,056 £277,541 £281,310 £150,164 £142,478 £180,553 £174,550 £244,963 £238,462 £164,154 £162,518 £154,075 £151,921 £159,135 £157,992 £159,824 £156,526
Strategic Housing Market Area Central Lincolnshire Coastal Lincolnshire Derby Leicestershire North Northamptonshire Northern Nottinghamshire Nottingahmshire Core Nottinghamshire Outer Peak Dales & Park Peterborough Partial West Northamptonshire
£154,236 £144,435 £149,600 £169,360 £158,285 £140,841 £148,733 £134,370 £209,490 £180,866 £189,685
£151,790 £140,845 £146,277 £165,158 £154,447 £137,979 £147,169 £131,457 £205,396 £172,804 £185,901
% price Detached change ave price -1.39 £275,653 1.36 £377,507 -5.12 £172,362 -3.32 £229,577 -2.65 £312,300 -1.00 £222,108 -1.40 £227,636 -0.72 £209,275 -2.06 £225,794
-1.59 -2.49 -2.22 -2.48 -2.42 -2.03 -1.05 -2.17 -1.95 -4.46 -1.99
£200,240 £175,821 £219,277 £250,753 £226,967 £205,757 £226,470 £196,326 £305,270 £221,313 £283,824
5 lowest prices 5 highest prices 5 biggest increases/highest affordability ratios 5 smallest increases/lowest affordability ratios
Notes: Price to incomes ratio uses ASHE gross full time employed earnings 2008.
Semi ave price £175,950 £213,672 £117,922 £137,148 £182,894 £133,080 £130,022 £120,935
Terraced maisonnette ave price ave price £153,378 £108,119 £182,376 £109,539 £102,133 £102,474 £142,050 £110,926 £175,665 £163,283 £118,881 £108,437 £111,700 £96,688 £100,603 £105,776
£133,671
£113,751
£106,766
£124,702 £117,843 £126,915 £146,278 £132,660 £116,084 £130,314 £109,760 £171,035 £135,668 £153,452
£105,094 £103,194 £104,526 £123,443 £116,941 £90,770 £102,440 £89,012 £138,431 £137,183 £133,684
£114,131 £87,856 £108,832 £108,375 £92,765 £90,798 £108,765 £93,837 £161,364 £108,014 £121,023
Lower quartile price £130,000 £130,000 £99,950 £115,000 £147,000 £103,000 £99,000 £97,000 £104,109
Lower quartile house price to incomes ratio 7.19 7.04 6.36 6.12 7.36 6.78 6.07 5.67 5.61
LQ incomes 18,088 18,464 15,709 18,806 19,970 15,199 16,305
17,118 18,562
Summary Data provider
Average house price Apr-09 Dec-08 Jan-09 Feb-09 Mar-09 Land Registry indexed £125,065 £125,429 £121,318 £120,301 £121,996 CLG indexed £154,153 £149,887 £149,746 £148,813 £148,029 Nationwide indexed £133,102 £126,673 FTHPI £157,912 £156,088 £155,367 £154,680 £153,290 Zoopla £145,326 Hi4em analysis of Land Registry data 3 month prices £155,453 £153,338 £150,878 £148,943 £150,493 12 month prices £162,358 £161,464 £160,990 £159,824 £159,094
Dec-08 -13.9 -11.5 -14.2 -14.2 -10.2
Land Registry indexed CLG indexed Nationwide indexed Halifax indexed FTHPI Zoopla Hi4em analysis of Land Registry data 3 month prices -6.2 12 month prices -3.2
Jan-09 -14.4 -14.1
-11.2
-4.6 -4.0
Annual change (%) Apr-09 Feb-09 Mar-09 -17.0 -16.4 -15.0 -12.7 -13.2 -12.5 -17.2 -18.8 -12.1 -11.7 -12.0 -16.6 -4.3 -4.3
-4.2 -5.2
-1.9 -5.6
May-09 Jun-09 £121,154 £119,849 £149,046 £149,580 £130,579 £152,037 £151,034 £164,878 £150,563 £151,545 £157,750 £156,526
May-09 -16.3 -11.1
-11.7
Jun-09 -15.3 -10.7 -11.42 -13.5 -12.5 -13.45
-0.2 -6.3
Data sources: Halifax Index Land Registry CLG Index Nationwide Index Zoopla
http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp http://www1.landregistry.gov.uk/houseprices/ http://www.communities.gov.uk/publications/corporate/statistics/hpi062009 http://www.nationwide.co.uk/hpi/ http://www.zoopla.co.uk/house-prices/browse/east-midlands/
Summaries
http://www.hi4em.org.uk/EastMidlands/MapsAndReports/houseprices.htm
1.7 -6.7
Council of Mortgage Lenders data The average number of mortgage loans written per month in: • Q3 2008 was 2900 • Q4 2008 was 2566 • Q1 2009 was 1933 • Q2 2009 was 2900 showing a 33.4% decline in mortgages written then a rise to Q3 2008 levels. During March 2008 the median income multiplier for mortgages seemed to peak at 3.10 with the median advance for buyers being 81% then there is a steady decline in both until they reach 75% advances and 2.70 multiples by Q1 2009 House purchase loans, all buyers, number, value and affordability, East Midlands Number of loans Value of loans number 2008
2009
Age of borrower
Advance
Income
Percent advance
£m
median
median
median
median
£m
£
£
£
%
Interest Income payments as % of income multiple median
Jan
3,200
388
35
106,200
36,283
78
2.98
17.5
Feb
3,200
394
35
108,000
36,369
80
3.03
17.9
Mar
3,300
416
35
111,486
36,357
81
3.10
18.1
Apr
3,500
425
35
109,000
36,819
80
3.01
17.3
May
3,800
463
35
110,000
36,480
81
3.04
17.4
Jun
3,400
412
35
109,800
37,158
79
3.00
17.4
Jul
3,300
402
35
107,000
36,643
78
2.97
17.6
Aug
2,900
340
37
102,063
36,208
76
2.89
17.4
Sep
2,500
289
35
101,215
36,786
77
2.86
17.3
Oct
2,800
324
36
99,379
36,014
75
2.83
16.6
Nov
2,400
270
35
97,749
35,400
75
2.85
15.5
Dec
2,500
281
35
99,000
36,482
75
2.79
14.6
Q1
5,800
613
36
91,095
35,173
75
2.70
Q2
8,700
926
35
94,000
36,000
75
2.71
Source: Regulated Mortgages Survey, CML/BankSearch Notes:
median
1. Estimates of % of number and value of loans are indicative only. 2. Averages shown are medians, as this tends to give more realistic figures for affordability for the typical borrower. However we state mean for size of advance, as this is used directly in the calculation of estimated value of advances.
Council of Mortgage Lenders data Possessions on mortgaged properties - UK The total number of properties taken into possession in the UK during Q2 2009 was 11,400 - a decrease of 10% from 12,800 in Q1. Voluntary repossessions also fell - from 3,440 in Q1 2009 to 3,010 in Q2 - a decrease of 12.5% Possessed Properties Properties in Properties Properties Mortgages properties taken into possession at taken into taken into oustanding, end period sold in period end period possession in possession in possession at end period period period
2008
2009
Properties taken into possession in period % change on last period
Voluntary possessions
Voluntary possessions share
number
number
% all loans
number
% all loans
number
Q1
11,787,000
8,500
0.07
15,600
0.13
5,200
number % of posessions 1,200
14.1
Q2
11,763,000
10,000
0.09
18,700
0.16
6,400
17.6
1,600
16.0
Q3
11,718,000
11,100
0.09
22,700
0.19
6,800
11.0
2,100
18.9
Q4
11,667,000
10,400
0.09
24,200
0.21
10,900
-6.3
2,530
24.3
Q1
11,107,000
12,700
0.11
23,600
0.21
12,200
14.4
3,440
27.1
Q2
11,110,000
11,400
0.10
20,600
0.19
14,300
9.6
3,010
26.4
Source: CML Research Notes:
1. Figures are estimates of arrears on all first charge loans held by CML members, both regulated and unregulated, and include buy-to-let. They do not include arrears relating to other secured lending or to firms that are not CML members. As our figures also relate to the number of borrowers rather than individual loan accounts, they will be materially lower than, and not strictly comparable with, the aggregate MLAR figures published by the FSA. 2. These estimates are based on reporting by a sample of CML members, which are then grossed up to be representative of the lending undertaken by CML members as a whole. In H1 2008 these accounted for over 95% of first charge mortgages. 3. Figures are subject to revision as we get better information about rates of growth and performance in different parts of the market, lenders report to us for the first time or re-submit earlier figures. 4. Care should be taken when looking at changes over time as lenders newly reporting figures may distort comparisons. 5. Properties in possession are not counted as arrears. Buy-to-let mortgages, where a receiver of rent has been appointed, also are not counted as arrears. 6. Arrears and possession figures are rounded to the nearest hundred. Quarterly, semi-annual and annual figures may not tally exactly due to rounding.
Council of Mortgage Lenders data Possession actions on mortgaged properties, local authority and private, England, Wales and Northern Ireland
Period
2008
2009
Q1 Q2 Q3 Q4** Q1 Q2
England & Wales Actions entered 40,880 38,993 38,078 24,675 23,968 26,419
England & Wales Orders made 14,269 15,615 15,919 14,834 7,699 8,760
England & Wales Orders suspended 12,697 14,607 13,939 12,416 8,823 10,363
Source: Ministry of Justice Notes 1. Includes all types of mortgage lenders. 2. Figures for the latest quarter are provisional. 3. The court, following a judicial hearing, may grant an order for possession immediately. This entitles the claimant to apply for a warrant to have the defendant evicted. However, even where a warrant for possession is issued, the parties can still negotiate a compromise to prevent eviction. 4. Suspended order is where the court grants the claimant possession but suspends the operation of the order. Provided the defendant complies with the terms of suspension, which usually require the defendant to pay the current mortgage or rent installments plus some of the accrued arrears, the possession order cannot be enforced. ** The Mortgage Pre Action Protocol for possession claims relating to mortgage or home purchase arrears was introduced on 19th November 2008. Its introduction has coincided with a substantial fall in the number of new mortgage possession claims. The effect of the MPAP is not visible yet on the number of mortgage possession orders, as orders are typically made around 8 weeks after claims are issued. More details are available in the recent county court possession actions bulletin available on the Ministry of Justice website.
Ministry of Justice possession claim data • The number of mortgage possession claims issued rose from 5,755 in 2004 to 11,395 in 2008. However the percentage rate of increase slowed from 50% from 2004 to 2005, to 5.95% from 2007 to 2008. • Local Authority level data just published shows a sharp decline in quarterly and annual numbers of possession claims when compared with a year ago. • The number of landlord possession claims issued in the county courts has not followed the above trend. These possessions have decreased from 12,810 in 2004 to 8,866 in 2007 then increased 2.8% to 9,120 in 2008. East Midlands Number of mortgage possession claim issued in the county courts Number of mortgage possession orders made (inc. suspended orders) in the county courts Number of Landlord possession claim issued in the county courts Number of landlord possession orders made (inc. suspended orders) in the county courts
2004 5,755
2005 8,634
2006 10,162
3,619
5,511
7,180
12,810
11,310
9,638
9,790
8,361
7,520
2007 10,755 n/av
8,866 n/av
2008 11,395 n/av
9,120 n/av
1 From 2007 court level data are available only for those courts with on site access to the Possession Claim Online system. Adjustments have been made at regional level to correct for the 'missing' orders made in other courts. Counts for HMCS areas are not supplied for this reason.
Mortgage possession claims issued in 2009 Q2 and most recent completed four-quarter period (Q3 2008 - Q2 2009) by local authority 2008 Q3 - 2009 Q2 2009 Q2
Total
% Change in total since 2008 Q2
Per 1,000 households1
Total
% Change in total since 2007 Q3 - 2008 Q2
Per 1,000 households1
Derby Leicester Nottingham Rutland
105 175 185 10
-37% -15% -38% -
1.1 1.5 1.5 0.7
470 650 855 40
-24% -19% -26% -28%
4.7 5.6 6.8 2.7
Derbyshire Amber Valley Bolsover Chesterfield Derbyshire Dales Erewash High Peak North East Derbyshire South Derbyshire
360 45 40 50 15 70 55 30 50
-29% -41% -32% -17% -31% -16% -35% -27%
1.1 0.9 1.3 1.1 0.5 1.5 1.4 0.7 1.4
1,500 210 195 190 80 275 185 145 220
-27% -37% -20% -23% -8% -28% -25% -29% -26%
4.6 4.0 6.1 4.2 2.7 5.7 4.7 3.5 5.9
Leicestershire Blaby Charnwood Harborough Hinckley and Bosworth Melton North West Leicestershire
220 45 50 20 40 15 30
-38% -18% -39% -47% -31% -55%
0.8 1.2 0.8 0.6 0.9 0.7 0.8
990 160 230 110 185 65 150
-36% -32% -33% -31% -35% -43% -45%
3.8 4.2 3.5 3.3 4.2 3.1 3.9
2009 Q2
2008 Q3 - 2009 Q2 % Change in total since 2007 Q3 - 2008 Q2
Per 1,000 households1
% Change in total since 2008 Q2
Per 1,000 households1
20
-44%
0.9
90
-37%
3.9
Lincolnshire Boston East Lindsey Lincoln North Kesteven South Holland South Kesteven West Lindsey
330 45 65 40 40 55 50 40
-29% -16% -35% -24% -11% -27% -42% -32%
1.1 1.8 1.1 1.0 0.9 1.6 0.9 1.1
1,405 185 280 165 160 235 220 160
-24% -13% -19% -39% -24% -22% -27% -25%
4.8 7.4 4.6 4.2 3.7 6.7 4.0 4.4
Northamptonshire Corby Daventry East Northamptonshire Kettering Northampton South Northamptonshire Wellingborough
450 55 40 55 60 160 25 60
-35% -48% -33% -36% -31% -34% -26% -25%
1.6 2.4 1.3 1.6 1.6 1.9 0.7 1.9
1,920 275 145 250 270 640 110 230
-23% -19% -21% -10% -17% -31% -15% -25%
6.8 12.0 4.5 7.1 7.1 7.4 3.1 7.2
Nottinghamshire Ashfield Bassetlaw Broxtowe Gedling Mansfield Newark and Sherwood Rushcliffe
355 65 65 35 45 60 55 25
-37% -37% -24% -35% -43% -29% -39% -56%
1.1 1.3 1.4 0.7 0.9 1.4 1.1 0.6
1,575 310 300 165 215 250 225 110
-29% -28% -23% -36% -22% -30% -32% -41%
4.8 6.2 6.3 3.4 4.4 5.8 4.7 2.4
Total
Oadby and Wigston
Total
HSSA 2007/08 In the East Midlands there are 1,923,438 dwellings with Nottingham, Leicester and Derby predictably having the most. Social housing accounts for 16.3% of these dwellings. The total number of vacant dwellings in the region is 62,584 of which 45.5% are classed as long term empty. The areas with the greatest proportion of long term empty properties are • Bolsover - 91% • East Northamptonshire - 96.1% • Newark and Sherwood -91.6% The East Midlands has seen a -0.4% drop in total households on the housing waiting list as of 1st April 2005 to 2008. Dwellings
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Total Private Social 53,667 46,764 6,903 51,127 42,614 8,513 49,392 41,384 8,008 38,356 35,442 2,914 33,651 27,313 6,338 27,537 22,149 5,388 48,453 42,554 5,899 66,777 58,614 8,163 47,998 36,658 11,340 24,821 19,306 5,515 32,154 27,641 4,513 104,470 83,604 20,866 32,229 28,531 3,698 64,309 57,479 6,830 36,472 31,476 4,996 49,086 42,582 6,504 49,901 44,588 5,313 34,245 32,178 2,067 40,119 34,961 5,158 45,765 40,956 4,809 40,289 35,106 5,183 123,807 90,474 33,333 41,443 32,161 9,282 46,768 37,947 8,821 21,270 18,861 2,409 50,102 42,239 7,863 40,842 32,016 8,826 45,959 40,457 5,502 39,534 33,654 5,880 89,826 73,597 16,229 127,563 88,808 38,755 22,442 20,655 1,787 46,532 42,210 4,322 15,592 13,298 2,294 38,480 34,793 3,687 37,554 32,945 4,609 57,575 49,776 7,799 35,398 31,721 3,677 32,412 26,719 5,693 39,521 35,021 4,500 1,923,438 1,609,252 314,186
Vacant dwellings
Total Private 1,930 1,871 1,770 1,545 2,706 2,576 1,324 1,273 788 741 946 853 1,086 1,049 903 738 1,478 1,259 250 133 864 817 3,864 3,391 1,400 1,369 2,599 2,446 1,084 1,078 1,069 920 2,125 1,996 631 596 1,196 1,152 1,063 1,008 915 821 5,585 4,828 1,480 1,400 2,260 1,939 460 412 694 636 1,092 958 1,653 1,320 780 667 3,366 3,139 6,303 5,135 332 316 1,301 1,166 809 780 970 949 683 637 1,545 1,453 690 672 499 376 2,091 1,918 62,584 56,333
Social 59 225 130 51 47 93 37 165 219 117 47 473 31 153 6 149 129 35 44 55 94 757 80 321 48 58 134 333 113 227 1,168 16 135 29 21 46 92 18 123 173 6,251
Vacant 6 months + 922 1,210 594 217 717 710 543 620 680 47 420 1,821 792 852 1,042 120 718 444 656 495 595 2,655 665 1,061 116 636 350 610 54 1,242 2,953 220 618 166 437 339 624 347 362 815 28,485
% long term empty 47.8 68.4 22.0 16.4 91.0 75.1 50.0 68.7 46.0 18.8 48.6 47.1 56.6 32.8 96.1 11.2 33.8 70.4 54.8 46.6 65.0 47.5 44.9 46.9 25.2 91.6 32.1 36.9 6.9 36.9 46.9 66.3 47.5 20.5 45.1 49.6 40.4 50.3 72.5 39.0 45.5
HSSA 2007/08 Total households on the housing waiting list at 1st April Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
2005 3,370 3,829 5,750 2,340 1,807 1,842 2,502 1,690 3,594 3,404 2,425 9,698 2,507 5,056 1,195 0 4,849 1,254 2,710 1,643 2,794 11,482 3,910 9,784 1,208 3,500 2,514 1,955 2,424 6,681 11,329 1,174 1,534 586 728 2,360 6,509 1,633 1,810 1,715 139,100
2006 2007 3,170 2,982 4,364 4,602 6,111 5,780 1,064 1,569 2,509 2,800 1,882 1,026 2,508 2,293 2,173 2,144 4,334 5,217 2,432 2,782 1,744 1,919 12,648 7,654 2,600 1,591 5,136 5,331 1,286 1,083 1,633 2,482 5,218 3,251 1,355 1,571 3,235 1,878 1,662 1,793 2,939 3,753 8,654 10,451 3,467 2,272 5,626 7,575 1,208 492 5,062 6,392 2,501 2,730 2,518 2,301 1,856 2,554 5,355 4,833 13,201 14,159 1,316 1,604 1,442 1,535 546 768 1,085 1,180 1,862 1,432 2,661 5,156 1,749 1,935 1,928 1,558 1,783 1,993 135,829 136,428
Total LA dwellings let to homeless households in priority need
2008 2004/05 2005/06 2006/07 1,875 0 0 0 4,462 36 44 37 5,184 75 73 46 2,016 33 24 2 2,499 69 85 86 1,693 0 0 0 2,448 11 0 4 1,992 144 97 98 5,803 217 195 135 2,241 4 20 25 1,948 5 15 22 9,732 496 464 380 2,219 0 0 0 5,453 0 0 0 1,319 0 0 0 2,386 0 0 0 4,074 61 58 41 1,636 13 11 20 2,981 128 60 132 1,167 47 28 48 3,123 59 83 78 6,925 551 233 184 3,102 147 146 146 7,836 0 59 75 690 11 13 26 8,046 88 148 92 2,921 68 7 16 2,193 48 41 34 1,120 131 145 84 5,849 310 285 297 15,668 1,062 761 541 1,083 39 26 26 1,451 0 0 0 836 16 14 16 1,410 148 48 50 1,918 108 74 67 4,500 65 138 289 1,642 22 40 45 1,243 140 125 108 1,861 0 0 0 138,553 4,352 3,560 3,250
2007/08 0 32 58 15 105 0 2 103 83 46 2 195 0 0 0 0 62 15 81 34 83 116 141 85 25 89 54 100 33 238 662 22 0 16 36 46 252 30 57 0 2,918
Valuation Office Agency - Local Housing Allowance May 2009 The highest Local Housing Allowance rates for the broad rental market areas seem to be towards the south of the region with the cheapest areas being mainly situated centrally and towards the north namely Derbyshire and Nottinghamshire. Local Housing Allowance is based on the average rent in a Broad Rental Market Area for each category of property. Categories range from shared accommodation to 5+ bedroom properties. Broad Rental Market Area
Cherwell Valley Chesterfield Derby Doncaster Eastern Staffordshire Grantham & Newark Grimsby Leicester & Surrounds Lincoln Lincolnshire Fens Milton Keynes North Nottingham Northampton Northants Central North-East Greater Manchester Nottingham Nuneaton & Hinckley Peaks & Dales Peterborough Rugby & East Scunthorpe Sheffield Southern Greater Manchester Wolds and Coast
1 Room (shared) £80.77 £54.00 £49.00 £54.00 £60.00 £60.00 £56.00 £59.00 £49.00 £60.00 £71.54 £54.00 £53.00 £60.00 £58.27 £65.00 £60.23 £65.00 £75.00 £65.00 £56.00 £65.00 £65.00 £68.00
1 Bedroom
£121.15 £92.31 £80.77 £80.77 £91.15 £83.08 £75.00 £93.46 £86.54 £91.15 £121.15 £77.31 £103.85 £91.15 £91.15 £91.15 £91.15 £98.08 £98.08 £98.08 £70.00 £91.15 £103.85 £76.00
2 3 4 5 Bedrooms Bedrooms Bedrooms Bedrooms £150.00 £103.85 £107.31 £94.85 £109.62 £105.00 £91.15 £115.38 £103.85 £111.92 £150.00 £95.77 £126.92 £114.23 £103.85 £109.62 £114.23 £121.15 £126.92 £121.15 £92.31 £110.00 £126.92 £96.92
£173.08 £121.15 £126.92 £109.62 £126.92 £121.15 £95.00 £132.69 £120.00 £126.92 £173.08 £109.62 £138.46 £129.23 £126.35 £121.15 £126.92 £137.31 £144.23 £144.23 £103.85 £121.15 £150.00 £114.23
£219.23 £155.77 £183.46 £150.00 £173.08 £167.31 £138.46 £178.85 £155.77 £158.08 £251.54 £150.00 £196.15 £173.08 £160.38 £183.46 £183.46 £160.96 £196.15 £196.15 £141.35 £160.38 £196.15 £138.46
£300.00 £178.27 £218.66 £178.85 £184.62 £223.85 £166.73 £229.62 £184.62 £173.08 £298.85 £189.81 £259.62 £222.12 £196.15 £229.62 £219.23 £227.89 £276.92 £276.92 £196.15 £189.81 £288.46 £138.46
Average
£159.81 £107.66 £91.84 £100.93 £118.23 £114.69 £91.01 £118.02 £108.79 £118.34 £160.83 £102.20 £117.46 £124.03 £112.23 £105.63 £118.08 £123.91 £139.09 £121.71 £94.24 £104.07 £136.40 £96.95
Local Housing Allowance is based on the median rent for each category. Average rents are the sum of all data collected by VOA divided by the number of records
Experian house type and tenure data - 2007
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton
Households 52,284 49,658 48,367 37,804 31,959 26,236 48,122 65,564 45,416 34,810 32,040 100,432 30,099 62,215 51,707 48,253 49,082 34,033 39,547 44,182 44,758 117,308 44,960 43,394 20,621 56,730 42,320 49,592 38,121 84,983
Detached 11,852 6,217 11,441 11,280 3,859 4,131 10,310 17,662 6,033 4,017 14,030 14,747 14,499 14,892 17,793 8,873 11,807 16,206 10,918 13,197 10,229 7,486 3,985 5,717 7,713 16,054 9,790 13,011 11,845 17,244
House type - No Semidetached Bungalow Terraced 11,524 19,308 7,591 13,944 20,751 6,630 10,564 17,590 6,092 3,769 15,970 5,759 9,950 12,446 4,455 5,138 8,964 5,916 11,011 16,291 6,915 10,656 24,516 7,979 11,638 17,532 5,552 10,075 15,557 2,829 2,889 9,962 4,110 28,467 35,699 10,524 1,967 8,220 3,928 6,501 17,810 18,622 8,614 16,508 6,283 13,349 17,977 6,181 10,982 16,486 6,688 2,452 9,691 4,341 7,686 13,742 4,185 6,291 15,961 6,853 11,220 14,873 5,561 44,790 41,665 5,550 15,474 15,344 3,909 11,385 17,378 5,998 2,503 6,785 2,694 12,642 17,169 7,550 6,514 17,749 6,947 5,004 17,848 12,247 5,993 13,804 5,203 20,422 28,367 9,026
Flats 1,965 2,083 2,646 982 1,235 2,066 3,554 4,691 4,649 2,356 1,032 10,933 1,495 4,370 2,448 1,822 3,082 1,307 2,971 1,845 2,843 17,810 6,258 2,932 903 3,278 1,293 1,455 1,282 9,918
Owneroccupied 41,550 35,249 34,093 34,064 21,479 18,249 37,342 52,202 29,543 19,945 27,396 64,263 26,674 46,686 42,622 38,507 40,199 30,624 32,201 38,723 34,252 63,243 25,681 28,697 17,559 42,558 31,457 40,420 31,547 58,153
Tenure - No Private rented 3,767 3,711 3,991 1,559 2,748 2,854 4,287 6,258 3,646 2,016 1,494 12,512 1,648 9,002 3,900 3,518 3,125 1,507 3,068 2,480 3,625 20,226 7,692 3,348 1,234 4,619 2,189 4,985 2,620 9,588
Social rented 6,931 10,666 10,263 2,166 7,712 5,123 6,481 7,073 12,227 12,864 3,140 23,632 1,772 6,490 5,159 6,215 5,743 1,896 4,258 2,960 6,879 33,840 11,589 11,351 1,811 9,521 8,650 4,171 3,943 17,245
Experian house type and tenure data - 2007
Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Amber Valley Ashfield Bassetlaw Blaby Bolsover Boston Broxtowe Charnwood Chesterfield Corby Daventry Derby Derbyshire Dales East Lindsey East Northamptonshire
Households 124,576 22,912 46,176 15,233 37,401 42,039 55,911 44,399 32,076 36,949 1,932,269
Households 52,284 49,658 48,367 37,804 31,959 26,236 48,122 65,564 45,416 34,810 32,040 100,432 30,099 62,215 51,707
Detached 7,383 5,625 19,458 7,022 12,729 8,175 17,202 22,791 6,949 10,764 444,936
House type - No Semidetached Bungalow Terraced 36,663 47,313 7,323 3,469 9,078 3,812 5,151 13,139 5,390 1,153 4,291 1,923 6,297 12,830 4,553 5,349 15,177 11,751 8,725 18,557 8,615 2,234 12,917 5,543 6,633 12,025 4,371 5,600 11,974 7,274 679,264 256,673 404,688
Detached 22.7 12.5 23.7 29.8 12.1 15.7 21.4 26.9 13.3 11.5 43.8 14.7 48.2 23.9 34.4
House type - % Semidetached Bungalow Terraced 36.9 14.5 22.0 41.8 13.4 28.1 36.4 12.6 21.8 42.2 15.2 10.0 38.9 13.9 31.1 34.2 22.5 19.6 33.9 14.4 22.9 37.4 12.2 16.3 38.6 12.2 25.6 44.7 8.1 28.9 31.1 12.8 9.0 35.5 10.5 28.3 27.3 13.1 6.5 28.6 29.9 10.4 31.9 12.2 16.7
Flats 25,853 920 2,995 833 970 1,569 2,775 888 2,077 1,304 145,688
Owneroccupied 49,602 19,961 39,866 12,852 31,695 33,088 44,377 41,435 23,834 28,920 1,410,808
Tenure - No Private rented 25,396 1,123 3,289 1,450 2,098 4,348 4,557 1,358 2,296 3,978 187,110
Social rented 49,556 1,821 3,019 929 3,593 4,584 6,946 1,581 5,938 4,044 333,782
Flats 3.8 4.2 5.5 2.6 3.9 7.9 7.4 7.2 10.2 6.8 3.2 10.9 5.0 7.0 4.7
Owneroccupied 79.5 71.0 70.5 90.1 67.2 69.6 77.6 79.6 65.0 57.3 85.5 64.0 88.6 75.0 82.4
Tenure - % Private rented 7.2 7.5 8.3 4.1 8.6 10.9 8.9 9.5 8.0 5.8 4.7 12.5 5.5 14.5 7.5
Social rented 13.3 21.5 21.2 5.7 24.1 19.5 13.5 10.8 26.9 37.0 9.8 23.5 5.9 10.4 10.0
Experian house type and tenure data - 2007
Erewash Gedling Harborough High Peak Hinckley and Bosworth Kettering Leicester Lincoln Mansfield Melton Newark and Sherwood North East Derbyshire North Kesteven North West Leicestershire Northampton Nottingham Oadby and Wigston Rushcliffe Rutland South Derbyshire South Holland South Kesteven South Northamptonshire Wellingborough West Lindsey East Midlands
Households 48,253 49,082 34,033 39,547 44,182 44,758 117,308 44,960 43,394 20,621 56,730 42,320 49,592 38,121 84,983 124,576 22,912 46,176 15,233 37,401 42,039 55,911 44,399 32,076 36,949 1,932,269
Detached 18.4 24.1 47.6 27.6 29.9 22.9 6.4 8.9 13.2 37.4 28.3 23.1 26.2 31.1 20.3 5.9 24.6 42.1 46.1 34.0 19.4 30.8 51.3 21.7 29.1 23.0
House type - % Semidetached Bungalow Terraced 37.3 12.8 27.7 33.6 13.6 22.4 28.5 12.8 7.2 34.7 10.6 19.4 36.1 15.5 14.2 33.2 12.4 25.1 35.5 4.7 38.2 34.1 8.7 34.4 40.0 13.8 26.2 32.9 13.1 12.1 30.3 13.3 22.3 41.9 16.4 15.4 36.0 24.7 10.1 36.2 13.6 15.7 33.4 10.6 24.0 38.0 5.9 29.4 39.6 16.6 15.1 28.5 11.7 11.2 28.2 12.6 7.6 34.3 12.2 16.8 36.1 28.0 12.7 33.2 15.4 15.6 29.1 12.5 5.0 37.5 13.6 20.7 32.4 19.7 15.2 35.2 13.3 20.9
Flats 3.8 6.3 3.8 7.5 4.2 6.4 15.2 13.9 6.8 4.4 5.8 3.1 2.9 3.4 11.7 20.8 4.0 6.5 5.5 2.6 3.7 5.0 2.0 6.5 3.5 7.5
Owneroccupied 79.8 81.9 90.0 81.4 87.6 76.5 53.9 57.1 66.1 85.2 75.0 74.3 81.5 82.8 68.4 39.8 87.1 86.3 84.4 84.7 78.7 79.4 93.3 74.3 78.3 73.0
Tenure - % Private rented 7.3 6.4 4.4 7.8 5.6 8.1 17.2 17.1 7.7 6.0 8.1 5.2 10.1 6.9 11.3 20.4 4.9 7.1 9.5 5.6 10.3 8.2 3.1 7.2 10.8 9.7
Social rented 12.9 11.7 5.6 10.8 6.7 15.4 28.8 25.8 26.2 8.8 16.8 20.4 8.4 10.3 20.3 39.8 7.9 6.5 6.1 9.6 10.9 12.4 3.6 18.5 10.9 17.3
CLG Housebuilding
• In the East Midlands dwellings started have steadily increased from the low of 1,030 in Q4 2008 to 1,830 in Q2 2009. Dwelling completions in Q2 (4,540) were at their highest level since Q2 2007 (4,520) • Derbyshire had the least total house starts during 2007/08 at 2,330 dwellings compared to Lincolnshire who had the most with 3,750 starts. • Housebuilding starts by RSL’s rose dramatically from 670 in 2007 to 1,420 in 2008. In the same period private housebuilding starts slumped from 14,630 to 7,380 • RSL’s in Leicestershire reported the least amount of house starts in 2007/08 at just 60, however they had the second highest number of dwellings completed at 250. • Northamptonshire RSL’s completed on the most housebuilding during the 2008/08 period at 510 dwellings but had the lowest completions in private enterprise. Housebuilding: permanent dwellings started and completed, by tenure and district, 2007/08
Quarters covered EAST MIDLANDS Nottinghamshire Ashfield Bassetlaw Broxtowe Gedling Mansfield Newark and Sherwood Nottingham Rushcliffe Northamptonshire Corby Daventry East Northamptonshire Kettering Northampton South Northamptonshire Wellingborough
4 4 4 4 4 4 4 4 4 4 4 4 4 4 3
Private enterprise 13,890 2,880 481 386 152 337 288 343 477 415 2,360 619 185 286 542 400 215 99
Dwellings started Registered social Local landlords authority 720 90 69 0 0 0 6 0 8 0 0 0 0 0 2 0 0 0 190 9 0 2 0 13 0 26 0 135 0 0 0 1 0
Private All enterprise 14,610 16,010 2,960 3,570 550 484 386 352 158 329 345 408 288 273 343 284 479 1,148 415 291 2,540 2,960 628 856 187 192 299 355 568 410 535 790 215 152 100 187
Dwellings completed Registered social Local landlords authority 1,370 10 220 53 0 0 0 0 0 47 0 10 0 0 0 88 0 17 0 510 0 0 36 0 81 0 54 0 258 0 14 0 71 0
All 17,380 3,780 537 352 329 455 283 284 1,236 308 3,470 856 228 436 464 1,048 166 258
CLG Housebuilding
Quarters covered Lincolnshire Boston East Lindsey Lincoln North Kesteven South Holland South Kesteven West Lindsey
Leicestershire Blaby Charnwood Harborough Hinckley and Bosworth Leicester UA Melton North West Leicestershire Oadby and Wigston Rutland Derbyshire Amber Valley Bolsover Chesterfield Derby Derbyshire Dales Erewash High Peak North East Derbyshire South Derbyshire
4 4 4 4 4 4 4
4 4 4 4 4 4 4 4 3 4 1 2 4 4 4 4
Private enterprise 3,510 310 610 498 532 521 638 403
2,970 226 548 297 435 714 259 51 20 130 2,170 275 167 106 436 72 271 78 146 394
Dwellings started Registered social Local landlords authority 240 37 0 149 0 0 0 0 0 0 0 32 0 18 0
60 0 12 7 8 18 0 0 5 9 160 24 21 0 0 14 38 0 9 50
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Private All enterprise 3,750 3,520 347 253 759 602 498 381 532 605 521 476 670 765 421 433
3,030 226 560 304 443 732 259 51 25 139 2,330 299 188 106 436 86 309 78 155 444
2,990 243 524 450 412 574 66 208 44 76 2,980 386 145 251 522 134 197 190 274 569
Dwellings completed Registered social Local landlords authority 200 10 57 0 73 0 0 0 0 0 42 5 28 0 3 0
250 71 21 33 3 61 0 10 25 21 190 27 4 13 39 23 69 0 19 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
All 3,720 310 675 381 605 523 793 436
3,230 314 545 483 415 635 66 218 69 97 3,170 413 149 264 561 157 266 190 293 569
CLG Housebuilding House building: permanent dwellings started and completed, by tenure - East Midlands Started Registered Social Local Landlords Authorities 60 320 110 40 -
2004 Q1 Q2 Q3 Q4
Private Enterprise 4,610 4,900 4,510 3,860
2005 Q1 Q2 Q3 Q4
4,360 5,010 4,360 3,500
130 210 150 140
2006 Q1 Q2 Q3 Q4
4,700 4,970 4,300 3,910
200 220 190 310
2007 Q1 Q2 Q3 Q4
3,890 3,550 3,890 3,300
190 150 180 150
2008 Q1 Q2 Q3 Q4
3,150 2,090 1,310 830
250 500 470 200
2009 Q1 Q2
1,100 1,580
250 250
50 30 20 20 30 -
All Dwellings 4,670 5,220 4,620 3,900
Completed Registered Private Social Local All Enterprise Landlords Authorities Dwellings 3,180 230 3,410 3,470 230 3,710 3,390 170 3,550 4,360 150 4,510
4,490 5,270 4,510 3,670
3,440 3,830 4,070 4,470
260 300 350 330
4,920 5,190 4,490 4,230
3,210 4,610 3,580 4,120
230 360 520 150
4,090 3,690 4,070 3,450
4,350 4,180 3,870 4,710
270 340 300 390
3,400 2,630 1,780 1,030
3,250 3,260 2,000 2,330
350 350 330 530
1,350 1,830
2,040 3,840
260 700
50 20
3,700 4,180 4,420 4,820
30
3,460 4,970 4,100 4,270
20 -
4,650 4,520 4,160 5,100
-
50 -
3,610 3,650 2,330 2,860 2,310 4,540
