Good news and bad news this week as a survey by estate agent Your Move has found that eight out of ten home owners think house prices will rise over the next five years. The bad news is that owners expect prices to increase by just 6.9 per cent over that time, much less than the 10.6 per cent they predicted a year ago.
The Knight Frank Land Index for the first quarter of 2011 has revealed, perhaps not surprisingly, that developers are concentrating their efforts on buying land that will appeal to families, in central locations and have planning already in place. Elsewhere, analysts are warning that if interest rates rise to as high as 5 per cent, as some are suggesting, mortgage payments could increase to an average of 51 per cent of take home pay.
And finally, it's no longer just the supermodels of New York that can be accused of being super thin, it's the homes too! That's because the Big Apple's skinniest property, at just 9.5ft wide, has gone on the market for $4.3m. Breathe in!
Click here for all the details.
27 May 2011
20 May 2011
The week's top property news
In the first quarter of 2011, the number of new homes started has jumped by 26 per cent, showing a slight recovery in the housebuiding industry. However, despite this positive sign, other figures released this week remind us that there is still a burgeoning deficit that needs to be met.
Property prices have risen, according to Rightmove's latest house price index. In fact, the statistics reveal that they are at their highest since June 2008. Elsewhere, the housing minister, Grant Shapps, has set out his 'definition' of the zero carbon standard to be applied to all new homes from 2016. It gives more responsibility to house builders and is designed to reduce emissions, whilst keeping costs down.
In other property news, research by Moneysupermarket has shown that buyers don't expect to own a home until the age of 38. This is due to size of deposit required, which may take years to save for and has led to a third of respondents claiming they do not intend to buy a home at all!
Click for details...
Property prices have risen, according to Rightmove's latest house price index. In fact, the statistics reveal that they are at their highest since June 2008. Elsewhere, the housing minister, Grant Shapps, has set out his 'definition' of the zero carbon standard to be applied to all new homes from 2016. It gives more responsibility to house builders and is designed to reduce emissions, whilst keeping costs down.
In other property news, research by Moneysupermarket has shown that buyers don't expect to own a home until the age of 38. This is due to size of deposit required, which may take years to save for and has led to a third of respondents claiming they do not intend to buy a home at all!
Click for details...
13 May 2011
This week's top property news stories
It appears that the spiralling cost of renting has finally had an impact, as more first time buyers are purchasing homes. Figures released by e.surv show that 27 per cent of all mortgage approvals were for properties under the £125,000 mark.
In other news, optimistic teenagers expect to own a home by the age of 25. Of the 12,000 teenagers surveyed by RBS, over half felt this was realistic, as well as many hoping to earn £35,400 by the same age, despite the current average being only £18,705. Elsewhere, sellers are being forced to reduce their asking prices by £20,000 to secure a sale. Vendors in the North in particular are found to be offering the biggest discount, led by those in Bolton where the average price reduction is 8.5 per cent
And finally, it's been proven that the number 13 is indeed unlucky – for homeowners that is. That's because properties with that number, on average, sell for £3,924 less than their neighbours.
Click here to read more...
In other news, optimistic teenagers expect to own a home by the age of 25. Of the 12,000 teenagers surveyed by RBS, over half felt this was realistic, as well as many hoping to earn £35,400 by the same age, despite the current average being only £18,705. Elsewhere, sellers are being forced to reduce their asking prices by £20,000 to secure a sale. Vendors in the North in particular are found to be offering the biggest discount, led by those in Bolton where the average price reduction is 8.5 per cent
And finally, it's been proven that the number 13 is indeed unlucky – for homeowners that is. That's because properties with that number, on average, sell for £3,924 less than their neighbours.
Click here to read more...
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