For the final Market Mover of the year, I am going to do something a little different. I am choosing a Christmas theme to take a light-hearted look back at the UK property market ahead of the festive break.
After searching for town names like ‘Christmas’, ‘Nazareth’ and ‘Three Wise Men’ and finding little of any interest (apart from a few cheerily named pubs!), I thought I would instead make my own Christmas trees inside the REalyse platform and using real UK market data. You may have to squint to really see the majestic spruces and firs on the graphs below, but here they are!
Read time: 6 minutes
Our first Christmas tree shows the number of Ofsted-rated ‘satisfactory’ schools in every different postcode across the UK, each plotted against the median £/sqft value of that same area. The number of registered unemployed people in each area adds some colour, with the darker ‘branches’ corresponding to higher levels of unemployment. What can this Christmas tree tell us? Not a huge amount, but it does show that expensive areas are less likely to have only ‘satisfactory’ rated schools.
The next Christmas tree plots £sqft values against the median discount (the difference between asking price and sold price), and once again we are keeping unemployment statistics in the mix. This tree did not come out quite as beautiful or neatly shaped as the others (after all some of this tree’s ‘branches’ are floating in mid-air) but it still displays the correct correlation. What can it tell us? There are some interesting things to note here. For example, areas with the highest discounts all seem to have relatively low levels of unemployment, while even the most expensive properties are often discounted. Even so, the actual discount rarely creeps above 10% of the purchase price – perceived good value?
Finally our pièce de résistance: the REalyse tree of trees, which is certainly worthy of some festive tinsel and a star on top. This Christmas tree shows the number of over 65-year-olds plotted against the median discount, again keeping unemployment as the third dataset.
What might this one be showing us? Perhaps that people over 65 tend to haggle on the final price? But they clearly tend to stick around the 5% level?
In any case, that’s it for this year’s Market Movers. Wishing you all a merry Christmas and happy new year!
© Treex 2020