News

8th May 2012

Demand for Rentals at a Record High

Ian Potter, operations director at the Association of Residential Letting Agents (ARLA), said: “The market has bounced back in a way that no one could have predicted to levels of demand that have not been seen since the last century. “More than 70% of our agents have stated that consumers coming to their offices are being forced to rent because of the pressure exerted on potential home buyers. This is real...

8th May 2012

What is a “Relucant Landlord”? …

The ‘reluctant landlord' - a phenomenon that emerged during the recession as homeowners were forced to let their property rather than sell it - has returned to the rental market, according to the Association of Residential Letting Agents (ARLA). ARLA's research revealed that 34 per cent of member offices in Q3 2010 have seen an increase in the number of rental properties coming onto market because they can't be sold. This...

8th May 2012

Crisis in New Homes …

The number of new homes built in England fell to a record low in the past year, down 23% on 2008/9. Just 128,680 net additional dwellings were provided in 2009/10 compared with around 167,000 in 2008/9. The previous record low was 130,510 in 2001/02. Numbers fell on the previous year in every English region. The North-West saw the largest annual decrease (38%), followed by the South-East (32%). The figures were...

8th May 2012

Social Media is Selling Houses …

The days of estate agency High Street offices being full of home seekers is gone and lots of agents are left with expensive and under utilised premises that act as no more than advertising hoardings, largely ignored by the public who now want to access information in the ways and at the times that suit them. Social media is a huge phenomenon with more messages now taking place daily on Facebook...

8th May 2012

Time to Move? …

We have a special offer, get your property valued in December and come on the market with Place Estate Agents before the New year and we will freeze the VAT.People are always curious about the value of their biggest asset so why not have a free no obligation value of your home.www.a-place.co.uk.Our customers rate our Estate Agentcy very highly why not see for your selves ....

8th May 2012

Welcoming in the New Year …

The year started with shortages of supply in the sales market continuing from the latter part of 2009 and this helped create an urgency amongst purchasers and an upward movement of house prices. Mortgage availability was an issue, as it has remained throughout the year, and with house building at an all time low, these factors added to the low supply of property to purchase. The rental market however remained strong,...

8th May 2012

News from the Council of Mortgage Lenders …

It says net lending is likely to be around £6 billion in 2011, down from the estimated £9 billion this year and £12 billion in 2009. Gross mortgage lending in 2011 will be very similar to this year at around £135 billion. Those figures are down from £143 billion in 2009, £253 billion in 2008 and £363 billion at the peak of the market in 2007. The CML does not think the...

8th May 2012

Warning from the Bank of England …

In an interview with the Daily Telegraph, Fisher, who is also a member of the rate setting Monetary Policy Committee, says that central bank policymakers would like to raise rates as much as tenfold from the historic low as soon as possible. Earlier this month the Bank of England held base rates at 0.5 per cent for the 22nd month in a row. The latest minutes showed a three way split...

8th May 2012

Value a House Correctly and It Will Sell …

JUST EXCHANGED - THE VENDOR WANTED TO MOVE AND WE CORRECTLY VALUED IT - THAT IS THE ANSWER IN A DIFFICULT MARKET. The last few weeks have seen a number of reports and surveys in the media that seemingly contradict each other. One report one day says prices are rising and another report on another day says they are falling. Mortgage lending figures and transaction levels are also seemingly moving up and...

8th May 2012

Local Market Still Bouyant …

  Last month I talked about the confusion being caused in the property market by the conflicting data and reports being produced by lenders such as the Halifax and Nationwide and other house price indices that regularly get quoted in the media. My point was, and is, that the UK property market is actually made up of many local and regional markets which do not all operate in the same way at...