London Shard about to break two records

May 9, 2012 Leave a comment

London Shard about to break two recordsFlats in London’s tallest skyscraper are ready to put two new records on their name. Not only will the Shard, West-Europe largest building which features 310 metres high, have the highest flats in Europe, it will also be responsible for the most differentiated area in terms of house prices.

London’s new pride is expected to be ready around July this year. The skyscraper will include UK’s first five star Shangri-La Hotel, which is known worldwide for its expertise and luxury. On top of that, there are offices, restaurants and an observatory deck where you can enjoy London’s most stunning view. And last but not least, the most luxurious and expensive flats of the UK are located in the London Shard. Read more of this post

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The Shape of the Market Today

May 5, 2012 Leave a comment

The Shape of the Market TodayIf you need to sell your property quickly, it is important to understand current market conditions.

With the UK officially falling into a double-dip recession and inflation consistently above target, mortgages are still scarce and upsizing is the last thought on most hard-working families’ minds.

Below are some of the main reasons that prices are still subdued.

Factors Reducing House Prices Read more of this post

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Multimillion-pound property’s price cut down by £800,000

April 30, 2012 Leave a comment

Multimillion-pound property’s price cut down by £800,000, UKUK, South Wales – An incredible offer has been made by the owners of the 15th century Swansea Valley chateau. In January, they had put their house to sell on the property market for £2.7 million. Luckily enough for the current buyer, there was a remarkable rise in stamp duty in the last Budget; the owners of the South Wales’s property have decided to cut down the price by £800,000. The Welsh property has been sold now for £1.9 million to Plas Cilybebyll.

This nine-bedroom house became Country Manor Estates property in January two years ago. Country Manor Estates is a division of Clorenco that has been operating in the luxury property ever since. In 2009, Clorenco was founded by Mike Clare, who turned this tremendous house into one of UK’s most comfortable work environments. Read more of this post

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Million pound homes report fall in sales

April 27, 2012 1 Comment

Million pound homes report fall in salesMillion pound homes worth over £1m being sold across Britain have reported a 5% fall in 2011 according to a report by Lloyds TSB. However, houses worth £2m and over have shot up 5%, the biggest increase in this price range since the start of records in 1995.

The report highlights that whilst most ordinary Britons are struggling on the housing ladder- burdened with wages which have slow growth and the ever increasing cost of living- the super-rich are still able to afford expensive housing and have no problems on the housing ladder. Overall, there was a 4% decrease in the sale of houses across the whole country. Read more of this post

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Super rich French turn to London

April 12, 2012 2 Comments

Super rich French turn to LondonSuper rich French residents are turning to the London property market amongst fears over rising taxes after current elections.

Francois Hollande,  the presidential candidate who is a favourite and in the lead, is proposing a tax rate of 75% for those earning above €1,000,000.

Central London has seen an overall drop of 9% in enquiries for properties from other European counterparts. However, Knight Frank has reported a 19% increase in interest from French buyers in the first 3 months of 2012. Read more of this post

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Nigella Lawson home to sell for millions

April 10, 2012 1 Comment

Nigella Lawson home to sell for millionsThe home of Nigella Lawson and her husband Charles Saatchi has been sold after being on the property market for 18 months. Christian Candy, a property developer with an international property portfolio worth £9 billion, purchased the luxury property in Begravia. Lawson and Saatchi dropped its price by £11 million less than the original asking price and eventually sold the apartment for the price of £25 million.

The property originally belonged to Charles Saatchi who purchased the property in 2001 for £3.8 million. The pair moved out of the apartment in 2010 after nine years of residence due to problems with neighbours. Saatchi ordered workmen to remove scaffolding from a neighbour, which caused damages of £50,000. Therefore the sale of this property means a profit of £21 million- not to mention the fact that the power couple are already worth around £128 million. Read more of this post

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Sydney housing market is unaffordable

April 4, 2012 Leave a comment

Sydney housing market is unaffordableThe Sydney housing market is becoming unobtainable for under 35s as it is discovered that 75% of 35 year olds and under are unable to buy a home in the Sydney area.

30 years ago it was possible to buy on the Sydney housing market with three times the average salary. Nowadays it is nine times the average salary, which is higher than the average in both London and New York.

A new report called ‘Homes for All’ shows that the current Sydney housing market is reaching crisis point as supply is not meeting demand. Compared to Melbourne, which produces 103 homes per 10,000 people, Sydney only manages 43. In general the country is building on average up to 15,000 new homes a year, but experts believe they should be building up to 40,000. Read more of this post

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NewBuy Home Scheme activated

March 12, 2012 Leave a comment

The NewBuy scheme has been put in to action in the hope of helping people to borrow up to 95% of the value of the mortgage price. In order to make this work, the taxpayer and the the construction industry are acting as co-guarantors.

David Cameron has launched the scheme based on the idea that “strong families and good communities are built from good homes”. With the construction industry contributing 3.5% and in the event of a major property crash the taxpayer would contribute 5.5%, the government is hoping to get more first time buyers onto the property ladder with this new scheme, through making mortgages more accessible and making it easier for potential buyers to secure the deposit needed for a house. Read more of this post

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Spa town property prices rocket

March 6, 2012 Leave a comment

Spa town property prices rocketSpa town property prices have seen a sharp rise, with recent research showing that nearly £130,000 has been added to the value of houses in such towns.

The Lloyds TSB Spa Town Review found that on average prices rose from £129,203 to £146,194 in 2001 up to £275,397 in 2011. 89% of spa towns have elevated property prices in comparison to their neighbour towns, with prices rising by 12% since 2001.

Ilkey is claimed as the most expensive spa town in West Yorkshire and outside the south of the England with average property prices of £293,338. Tunbridge Wells, a spa town in Kent, has an average house price of £326,753. The most expensive spa town in the country in Epsom, Surrey with the average property price sitting at £339,231, which works out as 23% more than the average spa town property price, which is £275,397. Only Llandridod Wells and Builth Wells, both in Wales, had below average property prices at £155,469 and £183,050 respectively. Read more of this post

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UK property market is declared as one of the worst in Europe

February 29, 2012 Leave a comment

uk property market is declared as one of the worst in europeThe UK property market has taken a hit as it comes to light that due to high inflation, houses prices have had their value wiped. It has been estimated by the Royal Institution of Chartered Surveyors (RICS) that since 2007, a third has been taken off the real value of UK homes. However, when we take away inflation, the biggest falls can then be seen in Spain and Ireland, while in contrast France, Iceland and Norway came out on top.

According to RICS, the UK property market suffered a 5.7% decrease in house prices. This may not seem a lot in comparison to one country that came out on top, Iceland, which reported a 33% fall from 2006 to 2010. However, according to the Halifax monthly index, UK prices have plummeted by 19% from August 2007 to November 2011. The average house price now stands at £160,907 compared to £199,612 in November 2011. Read more of this post

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