Rightmove will shortly be announcing the arrival of its interactive regional House Price Trendometer
When looking at house price trends most people look at where the national averages are going and apply that across the board.
However, the more savvy, especially investors looking for capital growth, realise this is much too broad a way to look at investing in property as there will always be regional fluctuations over time. So they look for more localised data to help them with their research into where they are more likely to get a better return over time. This can be quite hard to find.
So, how handy it would be to have one page on the internet where the average house asking prices of 54 counties in England & Wales since October 2001 were interactively displayed on a timeline? A page where you could select your county, then choose a start and stop time to look at the trends and see how much property in that region had increased or decreased over that timeframe. How about if it also showed major property milestones such as when the Help to Buy scheme started so you can judge for yourself what impact these had on property prices in that county?
How about if this could be accessed in a width adjustable format via desktop, laptop and mobile device alike and was updated every month from the Rightmove property database?
Well, enter the Rightmove House Price Trendometer .
This new tool does all these things in an extremely easy to use and intuitive display. In seconds you can see in which two counties asking prices have dropped when comparing October 2013 with July 2014 – London Central & City and North Yorkshire, surprised?
How many areas have seen asking price falls since that infamous credit crunch hit and by how much?
On a longer term basis, which areas outside of London and the South East have seen the greatest asking price rises and which have shown negative returns?
Or maybe you want to look at prices in your chosen area over the last seven year period (because that’s how long the average person stays in the same house – or so I’m led to believe).
The tool also has an embed capability, meaning that it can be displayed on other websites; very handy for estate agents and other property/finance related sites such as this one.
Rightmove has said it will be rolling the Trendometer out very soon but haven’t yet declared an exact date.
The 'Trendometer' should quickly become one of the ‘must use’ resources employed by anyone with an interest in property.