I recently had a Damacean moment when I realised that my 30 years in the property business had been wasted because all I really needed to do was read 2 pages of the Money Mail on Wednesday 29 May. As a regular reader of the Daily Mail and any other property section in any other paper, I never fail to be surprised by the journalists who offer expert advice on how to become a millionaire - for the price of...
May 2013
The perfect tenant? Someone who is impeccably tidy (OCD possibly), uncomplaining, who has no plans to move and happily accepts large yearly rent increases. Back to reality, we all know that tenants fall into several categories: students, young professionals, families and housing benefit recipients. I was amused to read on the weekend that there is now another category embracing the super-rich. The...
After a recent report by the Royal Institution of Chartered Surveyors informing us that demand for houses rose to its highest level for more than three years after the April launch of Help To Buy, one has to ask what is exactly fuelling this sudden enthusiasm? We may have the answer. It appears that some developers are advertising properties 20% below the correct asking price, implying that the equity...
As the property market makes a small move from the torpor of the last five years, as always the key players are the first-time buyers. Mortgage lenders are now going all out to attract first-time buyers to become first-time borrowers. There is now a plethora of mortgage deals hitting the market. Even though rates are becoming more competitive, the big question for new borrowers is, do they fix, or do...
Further to last week's blog, there has now been increased debate on the recent and possibly encouraging movement in the housing market. The Council of Mortgage Lenders (CML) reported that loan approvals in March were a 14.8% increase on February. In addition to this, the Royal Institute of Chartered Surveyors (RICS) said that a majority of its members reported a rise in prices for the first time since...
Having read a recent Mail Online article about the expected surge in the housing market, I have decided that I now want to be a consultant. The article quotes the experts from Fathom Consulting - whoever they may be - who now predict that the average home in the UK could cost £300,000 due to price inflation caused by the Government's home buying scheme. These consultants are very keen to use sound...
As most of us here in Cwmbran will have read the content of the Queen's Speech, analysed and cogitated upon it at length, I wonder if the Government are going a step too far? There are two things that jump out straight away: are hardworking medical professionals as well as treating the sick and infirm (that's if you're one of the fortunate ones in the Royal Gwent)going to have to check whether...
Ignoring recent meteorological conditions, the ice age that has befallen the housing market for the past 6 years, is showing tentative signs of thawing (according to some recent newspaper reports). Is it? I read with interest that Savilles Estate Agency has put forward its mainstream forecast of a 0.5% rise in house prices this year under review, whilst the Royal Institute of Chartered Surveyors is looking...
