Theres no shortage of house price indexes grabbing column inches - but how accurate are they?
Those produced by mortgage lenders tend to be based on the average value of their approved mortgages for the month whilst those produced by property websites are generally based on the asking price of properties rather than the price they actually achieve when sold.
It's the price that a property is sold for which really matters and here the Land Registry index which is based on the registered price for which properties have actually sold provides a clear indicator of what's actually happening to property prices.
The latest Land Registry figures for December show a month on month drop of 0.7% in average property prices in Wolverhampton with a 4.8% drop over the course of the year. Average house prices in Wolverhampton now stand at £99,883.
If you'd like to find out how much your home is worth in the current market then call us now on 01902 577775 for a free no obligation appraisal.