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

 

 

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.

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.

Travel less to work. Discover new areas to live in London

Three-quarters of UK workers have journeys to work of less than 30 minutes, according to the Office for National Statistics.  That figure comes down significantly for Londoners, with  less than 50% getting to work in under 30 minutes.

Working out where to live and how long the journey to work is requires looking at several websites to get information about public transport links and can be quite time consuming.

To make it easy to discover places to live in London, we have launched a new feature that allows our users to do just that; Quickly discover places to live by specifying where they work, how long they wish to travel, the type of property they are looking for and their budget.

To use this feature, simply go to http://www.placebuzz.com/commute-search

Simply enter the area you work in (e.g. Holborn)…

And hit the Suggest Areas button…

You are then presented with a carousel showing the areas matching your criteria.  You can adjust the travel time, type of property and budget using the orange sliders and hitting the Suggest Areas button again to narrow down or widen your search.

You can further explore an area by clicking on an area from the carousel, or on one of the map markers…

As the popup says, we use a combination of science and magic to show you how long a typical journey would be including any tube, bus and walking times.

To see properties in an area that you like, just click the Find properties around… button which will take you directly to property search results…

To use this feature, simply go to http://www.placebuzz.com/commute-search

Please send us your comments and let us know what you think of this feature.

 

Top 5 UK house prices league by location in the past year

Status

The average house prices in the UK slipped last month by 0.4pc according to Nationwide index figures. Over the past year there are winners and losers. Let’s take a look at the top 5 price hikes in pictures over the past 12 months.

Number 1 house price riser – Brighton

Houses for sale in Brighton are up 6pc to £314,209

Brighton – Number 1 house price riser

Second house price riser – Nottingham

Houses for sale in Nottingham are up 4pc to £143,476

Nottingham – Second house price riser

Third house price riser – Aberdeen

Houses for sale in Aberdeen are up 4pc to £229,450

Aberdeen – Third house price riser

Fourth house price riser –

Houses for sale in Cambridge are up 3pc to £328,735

Cambridge – Fourth house price riser

Fifth house price riser – Liverpool

Houses for sale in Liverpool are up 2pc to £146,880

Liverpool – Fifth house price riser