Improving your home through DIY

May 10, 2012 Leave a comment

Improving your home through DIYRecent house market trends have been pretty abysmal and seem to be in line with the UK’s dip back into recession.

For many property owners, the prospect of placing their house on the market just does not fill them with optimism. It’s an expensive game with all the associated fees, it can be tiring too, with time-wasters, or people who are viewing just to be nosey. Very often householders will be going into negative equity too with very low house prices.

One positive thing house owners can do, is consider sprucing up the home over a one or two year period in hope of a more buoyant property market further down the line. You’ll also have the benefit of any home improvements in the mean time. One such way is to employ builders to add that extension you’ve always dreamed of, or maybe a new bathroom, and if you’re a bit more practical why not consider doing this yourself? There are plenty of DIY blogs with great advice, or home improvement books, magazines and plenty of online forums where DIYers can ask questions on DIY topics. 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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Stamp duty ends, what next for the UK housing market?

March 29, 2012 Leave a comment

A report by Nationwide has found that house prices have taken the biggest tumble from February to March this year by 1%, since a 1.5% drop in prices in February 2009. The report comes following the end of the Stamp- Duty concession which came to an end this March.

The report found that house sales took a temporary surge in the last few months as first time buyers rushed to close purchases on houses before the stamp duty concession came to an end, however economists predict that prices will only continue to decrease as the weak economy continues to burden the housing economy. Read more of this post

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Primary schools price out families

March 26, 2012 Leave a comment

House prices in the catchment area for some of the UK’s best primary schools are pricing out parents desperate to get their children into the top local schools. A survey carried out by primelocation.com has revealed that the most desirable places at primary schools can add as much as 42% to the price of a property compared to the regional average.

The house price inflation in these sought after areas has been mostly linked to the top primary schools as parents view primary schools as the stepping stone to a  place at a better secondary school for their children which is also becoming highly competitive. Read more of this post

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Housing market prices rise surprisingly fast

February 20, 2012 Leave a comment

Housing market prices rise surprisingly fastThis February, housing prices in the UK have risen by 4.1%, which is the highest monthly rise in 10 years. This increase comes as a big surprise given the unstable economy and political trouble. In January, prices still fell by 0.8%.  Experts claim the recent rise is due to strong demand from cash-rich market sectors where demand exceeds offer.

London is one of these cash-rich market sectors. Its property market cannot supply the demand for flats and houses asked by wealthy buyers. Foreign investors represent an important part of that demand which results in higher prices. London prices are now only one percent off their all-time high. Read more of this post

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UK housing prices have risen by 84% in last decade

February 13, 2012 Leave a comment

UK housing prices up by 84% since 2001UK housing has risen 84% in value over the last decade since 2001, a new survey by lender Halifax has shown. According to data from Halifax, the overall value of the UK property stock has reached £ 3.9 trillion in 2011, up from £ 2.1 trillion in 2001, which represents an increase of £ 1.8 trillion.

The increase of UK housing value over the last decade for residential housing stock held by owner occupiers and buy-to-let investors represents a £ 68,500 increase per household. Homeowners have seen the value of their property rise on average by 84%, which is more than double the increase of in overall consumer prices. The increase would have been even greater had the global credit crunch not led to a significant decrease in value since late 2007. Read more of this post

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While UK property market slumps, London remains a beacon of growth

January 31, 2012 Leave a comment

While UK property market slumps, London remains a beacon of growthWhile the rest of the UK property market has been experiencing a downturn for the last year and a half, the London property market has been the only region to experience an increase in its overall property value throughout the same period. This trend confirms London’s position as a safe haven for wealthy investors fleeing the euro-zone crisis. Additionally, the upcoming Olympic Games only seem to assure the prospects of further property value increases.

The flagship house index data recently released by the Land Registry shows that the overall UK property market has decreased in value by 1.3 per cent in 2011. This means that the UK property market as a whole has not had a single value growth month for the last year and a half. There are of course regional differences with the North East experiencing the biggest annual price decrease with 7.1 per cent. Average houses prices throughout the UK property market stand at £160,384. Read more of this post

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House prices increase in October

November 1, 2011 Leave a comment

House prices increase in OctoberAccording to the latest Nationwide House Price Index, which was released today, house prices have increased in October by 0.4%, making the average home worth £165,650. The average home is now worth 0, 8% more than a year ago.

Nationwide’s Chief Economist Robert Gardner, noted, that “Given the challenging economic backdrop, October’s data is encouraging, but it doesn’t fundamentally change the picture of a housing market that is treading water. Property transaction levels remain subdued, and prices essentially flat compared to last year.” Read more of this post

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Rural area properties getting more expensive

October 12, 2011 1 Comment

Rural area properties getting more expensiveHalifax Rural Housing Review annual report indicates that houses in countryside are more expensive than urban houses. The prices of rural area properties are on average 16 per cent higher (about £27,000 more expensive than urban properties), and have increased by 35 per cent since 2001.

The difference in rural and urban property prices has been reduced by the property market fall, which started in 2007. The urban property prices have decreased by a total of 23 per cent and in countryside areas by 22 per cent. For the past 10 years the average country house prices have increased more than in cities in monetary terms. They boosted from  £127,146 in 2001 to £196,316 in 2011, whereas when it comes to the urban areas, the increase was of £62,223 from £107,130 to £169,353. However, the house prices in urban areas have risen by 58 per cent, while in rural areas just by 54 per cent. Read more of this post

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House prices growth in England and Wales

September 9, 2011 1 Comment

House prices growth in England and WalesThe latest LSL Property Services/Acadametrics Index noted the house prices growth in England and Wales. They rose, on average, to 0,3 percent compared to the last month and currently stand at £ 219,078. However, year-to-year house prices are down 2,2 percent. LSL research showed property transactions growth of 1,5 percent to reach a level of 64,500 in August.

Prices in London have increased by an average of 1,6 percent in July, after a three month fall during the summer. In other parts of England and Wales there was a visible price drop compared to last year, but as David Newnes, director LSL Property Services says, the falling rate has decreased and the housing market nationwide is heading in the right direction. Read more of this post

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