#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 borrowes

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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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.

 

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

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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

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Placebuzz Blog Launched

We’ve just launched our blog and we’ll be adding some interesting articles, news and updates so watch this space! We will also be publishing all content from our blog to our social media pages on Twitter, Facebook, Tumblr and Blogger so follow us to keep up with the latest on Placebuzz

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