Fill out our survey and Win!

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We’d like to take 2 minutes of your time to complete our online survey to help us understand our users and build a better site.

To make it worth your while, we will automatically enter you into our competition for a chance to win a £100 or £50 IKEA voucher.

Terms & Conditions:

– The prize is a prize of a £100 IKEA Gift Card for the best entry and a £50 IKEA Gift Card for the runner-up.
– Entrants must be a resident of the UK.
– Entrants must be at least 18 years of age to enter.
– One entry is allowed per person.
– Only the winning entrant can be a recipient of the voucher.
– The winners will be selected from all valid survey entries, tweets and Facebook comments.

- The competition will run from 9/09/2014 until 17/10/2014 and the winner will be announced on 20/10/2014
– If a winner does not respond within 7 days of the winner announcement, the prize will be allocated to another entrant.
– This competition is not open to employees of Placebuzz or any associated companies or their immediate families.
– This competition is run independently by Placebuzz on their chosen social networking platforms and is not endorsed by, associated with or sponsored by Twitter, Facebook or IKEA.
– Placebuzz reserves the right to close the competition early.
– Placebuzz can duplicate any entries into the competition on any of their hosting platforms i.e. website or social media accounts.

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#PointlessPropertyPurchase Competition: Win a £100 or £50 IKEA Gift Card

PointlessPropertyPurchase_Competition

Move over summer, it’s Back to School time! Students will be flocking to the UK from all over the world, going on manic shopping sprees to find various items for their new digs; be it cutlery, crockery, bed linen or even a poster or two…

What we’d like to know is whether you’ve ever bought something for a new place with loads of ideas for what you’re going to do with it…

And then when you finally move in… NOTHING comes of it. It could be that smoothie maker  you dreamed of getting your 5-a-day with or that bedside cabinet you thought would really improve the feng shui. We like to call this a #PointlessPropertyPurchase.

We’re so intrigued by your Pointless Property Purchases, in fact, that we’re offering a prize for the best ones in a competition; we have a first prize of a £100 IKEA Gift Card up for grabs and a runner-up prize of a £50 IKEA Gift Card to make up for that pointless purchase of yours!

There are two ways to enter:

Twitter:

1. Follow us on Twitter (@placebuzz)
2. Tweet us your #PointlessPropertyPurchase, making sure you include the hashtag (and a photo if possible!)

Facebook:

1. ‘Like’ us on Facebook at https://www.facebook.com/placebuzz
2. ‘Like’ the competition post and comment with your #PointlessPropertyPurchase
(and a photo if possible!)

We’re looking forward to reading (and seeing) them!

Terms & Conditions:

– The prize is a prize of a £100 IKEA Gift Card for the best entry and a £50 IKEA Gift Card for the runner-up.
– Entrants must be a resident of the UK.
– Entrants must be at least 18 years of age to enter.
– One entry is allowed per person.
– Only the winning entrant can be a recipient of the voucher.
– The winners will be selected from all valid tweets and Facebook comments.

- The competition will run from 9/09/2014 until 17/10/2014 and the winner will be announced on 20/10/2014
– If a winner does not respond within 7 days of the winner announcement, the prize will be allocated to another entrant.
– This competition is not open to employees of Placebuzz or any associated companies or their immediate families.
– This competition is run independently by Placebuzz on their chosen social networking platforms and is not endorsed by, associated with or sponsored by Twitter, Facebook or IKEA.
– Placebuzz reserves the right to close the competition early & to change the T&C’s at any point during the competition.
– Placebuzz can duplicate any entries into the competition on any of their hosting platforms i.e. website or social media accounts.

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Swansea is most affordable place in the UK for second steppers looking to buy first family house

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  • Edinburgh is least affordable for second steppers, with average price difference of 124.7% between flat and first house
  • London – price difference between flat and first house for second steppers is £463,580
  • Four Scottish cities; Edinburgh, Dundee, Aberdeen and Glasgow, appear in list of least affordable places for second steppers
  • Two east England locations; Norwich and Ipswich, rank in the top three most affordable locations to be a second stepper

London, 20th August, 2014 — Swansea is the most affordable place in the UK for second stepper couples looking to buy their first family home, with the average price of a house only 9.6% more than the average price of a flat, according to research carried out by property search engine, Placebuzz.com.

Figures show that homeowners on the first rung of the property ladder in Swansea have the smallest percentage jump to the second rung. The average price of a one to two bedroom flat in Swansea is £133,561, compared to £146,448 for a terraced or semi-detached house. That’s a price difference of just £12,887, which is around 57% of the average annual salary in Swansea, which stands at £22,829
The problem of second stepping has forced couples across the UK to stay in their first properties, which are often flats, much longer than they would like. Placebuzz.com figures reveal towns and cities around the UK where the second step, from flat to a terraced or semi-detached house, is the largest and smallest. Only major towns and cities have been considered for this research.

The east of England came out as the most affordable region of the country for second stepper couples, with Norwich and Ipswich featuring in the top three places for most affordable second stepper towns or cities. The average percentage price difference between a terraced/semi-detached house compared to a flat in Norwich and Ipswich is 18.4% and 19.5% respectively.

This compares with Edinburgh, which came out as being the least affordable place in the UK for second steppers based on the percentage difference between the price of a house versus a flat. Couples in Edinburgh looking to buy their first family home face a mammoth 124.7% extra or £180,285 more to purchase an average terraced/semi-detached house (£324,874), compared to a one to two bedroom flat (£144,589). With the average salary in Edinburgh around £31,040, that extra cost to step up is 581% more than the average wage.

Predictably, London is the least affordable city when you look at the actual amount of money required to jump from the first rung to the second rung of the ladder, with couples facing the prospect of having to find an extra £463,580 to move from a flat to their first house. That’s a staggering 1079% of the annual central London salary of £42,970, which explains why many couples have to move out of the capital to second step.

Placebuzz.com figures reveal that Scotland actually has the two least affordable places for second steppers, with Edinburgh closely followed by Dundee, where couples looking to buy their first family home are looking at an average additional cost of £79,089 to do so. Aberdeen and Glasgow also feature high up on the list, with average second steps of £101,718 and £53,040 respectively.
The following table shows the most affordable towns or cities for second steppers looking at the price difference of an average 1-2 bedroom flat compared to a terraced or semi-detached house:

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The following table shows the least affordable towns or cities for second steppers, looking at the price difference of an average 1-2 bedroom flat compared to a terraced or semi-detached house:

Screen Shot 2014-09-03 at 12.30.41

Andy Hatoum, co-founder of Placebuzz.com, comments: “These figures show that the gap between the first and second rung of the property ladder in many areas of the UK remains too wide for many couples to consider buying their first family house.

“The second step is the often the hardest step to take on the property ladder. But it’s also the most important for many couples, as this is the property they stay in for years to raise a family. It’s not just the price differential between a flat and a house, there’s also the additional costs of purchase such as stamp duty, extra mortgage and furnishing costs that need to be met.

“Many couples have to put off moving, and accept they might to have to raise a family in cramped conditions and in areas not necessarily suited to bringing up children. Inevitably, relocation becomes a topic of conversation around the dinner table, but this is not always an option if work or family commitments mean they have to stay local or face horrendous commuter journeys.”

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#Summer Competition: WIN a £50 Amazon Gift Card

Placebuzz CompNothing goes better with summer than shopping, so we thought this was a great time for a competition. Our prize is a £50 Amazon Gift Card that can be used to get some pretty cool summer essentials!

There are two ways to enter:

1. Follow us on Twitter and RT this tweet: http://ow.ly/z7vZg

2. ‘LIKE’ our Facebook Page

Good Luck!

Placebuzz competitions have the following Terms and Conditions:

-The prize on offer in this competition is 1 x £50 Amazon Gift Card
-There is only one entry per username
-Users can enter via Twitter & Facebook
-Entrants must be at least 18 years of age and must be a resident of the UK
-The competition is not open to employees associated with Placebuzz, and their associated companies or their immediate families.
-Prizes may not be transferred to any other person and there are no cash alternatives or alternative prizes available
-Winners will be randomly selected from all valid tweets, retweets and Facebook Page ‘Likes’
-The competition winners selected must respond within 7 days of confirmation to claim prize
-Placebuzz competitions are not endorced or sponsored by Facebook or Twitter.
-Competition end date is Thursday 31st July 2014 & the Winner will be announced on Friday 1st of August 2014
-Placebuzz reserves the right to close the competition early.

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Want to live on ‘Prince George Street’? Properties command a royal price tag

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  • Properties on a street bearing the name of Prince George are on average 16% more expensive than the local average
  • Buyers can expect to pay a premium of £110,187 for the privilege – 63% higher than the UK average house price 
  • In London, properties with the regal address are a third (33%) more expensive than the average house price in the capital 

Buy property on a street bearing the name of Prince George and you can expect to pay almost a fifth (16%) above the average for that postcode, according to new data by leading property search engine, Placebuzz.com [1].

The research, coinciding with Prince George’s 1st birthday on July 22, also reveals that a property with the little prince’s moniker costs on average £110,187 more (63%), than the average UK house price[2].

According to Placebuzz.com figures, properties on Prince George streets in London are 26% more expensive than average property prices in the same postcode, and a third (33%) pricier than the average London property[3].

For example, buyers purchasing property on Prince George Road in London’s trendy Stoke Newington will pay £599,464, which is almost 50% more than the average house price in the N16 postcode.

And, in south-west London, the trend continues. Buying a property on Prince George’s Road in Wimbledon costs £725,491, 28% more than the average SW19 home.

This gulf in price is not unique to London. In Portsmouth, houses on Prince George Street are on average £223,920, over a quarter more (26%) than the cost of a home with a P01 postcode (£177,860).

The following table shows a sample of Prince George streets across the UK:

Street City Average price of a house on a ‘Prince George’ road (£) Average price of a house in the same postcode (£) % Difference compared to average house in same postcode % Difference compared to UK average
Prince Georges Road, SW19 London £725,491 £567,430 + 28% + 322%
Prince George Road, N16 London £599,464 £404,611 + 48% + 248%
Prince George Avenue, N14 London £509,111 £378,652 + 34% + 196%
Prince George Street, PO1 Portsmouth £223,920 £177,860 + 26% + 30%
Prince George Drive, DE22 Derby £179,786 £169,654 + 6% + 5%
Prince George Street, ST10 Stoke onTrent £179,495 £160,566 + 12% + 5%
Prince George Avenue, SR6 Sunderland £173,000 £163,751 + 6% + 1%
Overall Average £281,222 16% 63%

Andy Hatoum, co-founder of Placebuzz.com, says: “By George! Clearly, buyers have to fork out a lot more for the privilege of living on a road steeped in royal history. The inflated price tag associated with living on a road named after the latest addition to the royal family is almost double in Portsmouth. The baby Prince is already boosting sales of baby clothes – does his regal influence extend to the property market too? It would seem so.”

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New mortgage rules: Advice for borrowers

mortgage agreement

New mortgage rules have been introduced by the Financial Conduct Authority (FSA) on the 26th of April that require mortgage lenders perform a full affordability check on applicants to ensure that they can afford their mortgage now and in the future.

There are a number of actions you can take to improve your chances of getting a mortgage and minimise delays:

Review and keep hold of your payslip and bank statements

Applicants will be required to supply a number of documents that prove income and expenditure which include 3 to 6 months payslips, bank statements and detailed outgoing figures. Self employed applicants will be required to provide track records going back up to 3 years and evidence of work in the future.

Avoid gambling, going overdrawn and using payday loans as they are viewed negatively by lenders.

Create a budget plan

Lenders use affordability calculators that take account of all spending. They will access if you can afford to pay for your repayments now and in the future. Ensure you have sufficient disposable income for all your outgoings and the new mortgage. Also take into account surprises such as a rise in interest rates. Make sure you include any payments that will no longer exist after a new mortgage is taken out and avoid taking out any new debt.

Ensure you’re on the electoral role

This will help lenders identify you. If you are not already on there you can apply to get on the electoral register for free on GOV.UK.

Check you credit report

Lenders use credit agencies to determine your affordability and risk. You can obtain a copy of your credit report from credit agencies such as Experian and Equifax for a statutory price of £2. Make sure that all the details on your report are correct. Contact and try to resolve any issues with the companies in question directly.

Where can I afford to live in London? | Find a property for Sale

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London’s last 100k homes

We found just five properties in London advertised for less that £100,000, excluding retirement properties, shared ownership homes and those sold at auction.

This may be the last time we see properties under £100,000 being sold in the capital – well on land least, as the only homes available in this category are houseboats.

Take a look and let us know what you think: http://www.placebuzz.com/property-for-sale/greater-london/london

 

 

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UK House prices in 2014

The latest house price index from Halifax has revealed that prices in the three months to December were 7.5% higher than in the same three months the previous year.

These latest (Halifax) figures show just how tricky it is to gauge exactly where the property market is on its road to recovery.Nationwide’s last figures showed a 1.4% rise in property prices in December, while Halifax reveal a 0.6% decline, which is what we would typically expect to see as activity drops off before and over the festive period.

The difference between now and 12 months ago, when we were seeing this type of conflicting data, is that at that time there were very few new properties coming onto the market and very few people buying.

Now buyer confidence is back with a vengeance in many parts of the country, fueled by a continued supply of cheap mortgages and a more buoyant economy, and it’s only a lack of supply that is holding them back.

The slight worry is that mixed in with this confidence is a degree of fear, especially amongst first time buyers, that if they don’t take the plunge now they will be left behind as lack of supply and buyer demand drives prices higher and out of reach.

The next few months are going to provide a crucial indicator as to where we are in the housing market cycle. The market is building up a head of steam but there will be concerns that property prices are starting to rise at an unsustainable rate, especially in London and the Home Counties.

The hope is that we will see more steady growth at the start of 2014 supported by a much stronger supply of new properties coming onto the market.

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Advice on buying a property

Home for saleFinding a property

There is a growing trend that has been moving from prospective buyers looking in estate agents’ windows to looking for property on line. The problems is that there are so many property websites on the internet to choose from that offer property for sale adverts from various agents. This is where Placebuzz can help. The search engine aggregates properties found on other property websites so that you can search them all from a single place. When you search for property, you also get up to date average prices in the area  you are looking based on what’s currently on the market. Finding the right property may take a while, so do ensure that you register on the site so that you start receiving instant alerts of properties matching your search as soon as they are advertised.

It’s all about location

When looking for a property to buy, it’s becoming increasingly more important for buyers to try and find a property near work.This makes absolute sense as for a lot of people, most of the time is going to be spent at work. You may be unaware of areas within your budget that have decent transport links which are going to get you to your work in a reasonable time. Placebuzz is your friend here offering an excellent research tool for finding the right property. If you live in London,  try out the commute search. You simply enter the location of you work and your budget and it suggests areas where you can live. It will also provide you with up to date area and transport information. For more information about this feature, read our previous blog around discovering new areas to live.

Viewing properties

Here are some useful tips to keep in mind when looking for the house of your dreams:

  • Don’t loose out, make appointments and view the properties as soon as possible. If you leave it too long the property may get snapped up.
  • Try to arrange for viewings on your lunch hours or on the way to and from work.
  • Make as many visits as you need and bring a builder with you if needed to find out what you may be letting yourself in for.
  • Check the history of the property. If it’s been rented for a long time, it may have had many landlords who may have done the minimum in repair and maintenance.
  • Be careful for signs of a superficial renovation that is hiding more serious work to be done.
  • If you’re thinking about buying a property to renovate and sell on, check how long it’s been on the market first. If it’s been on the market for a very long time, this may indicate that there isn’t a lot of profit to be made. Placebuzzz provides you with the date the property was first instructed.

Making an offer

You may be very tempted to put a low offer but be careful if you find the ideal home. If it seems to be priced right, consider offering near or the full asking price as you’ll be taken  more seriously. This will also make it less likely for another party to step in. You probably also want to ensure that all internet adverts for the property have been removed once your offer has been accepted.

Chains

One in three property chains fall apart for various reasons so communication is the key here. Under current British house-buying and selling practice, little can be done to change this. Some welcome improvements have been introduced by the  Government that require Home Information Pack (HIP) to be provided to prospective buyers on request. Stay in touch regularly with your solicitor and estate agent to make sure everything is on track and bear in mind that you need to be flexible if you want to keep the chain going.

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London’s most expensive properties in pictures

A Hampstead mansion…£40 million

 

6 Bedrooms, 6 Bathrooms and 6 Reception rooms…£35 million

 

5 bedroom kensington apartment…£30 million

 

Double fronted victorian villa…£29 million

 

Eaton square apartment…£28 million

 

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