Buying an investment property is always done with profit in mind, and whilst rental income can contribute to this, the biggest pay out comes when you sell the property. So, how do you maximise what you can make?Estate AgentsEmploying an estate agent is traditionally the easiest way to find a buyer as these can help you get your property on the main websites whilst also conducting viewings on your behalf. They aim to achieve the highest possible price using a variety of methods.A typical estate agent should have a presence in the local area and a substantial knowledge of the locale. Search for a similar property to your own on the property websites using the ‘sold subject to contract’ filter to see if one particular agent dominates these sales. There are also third party review sites which can recommend agents in your areas. This can be particularly useful if you...
Leading online estate agent, eMoov.co.uk, has released its fourth and final Hotspots Index of the year, detailing which areas have seen the largest increases and decreases in property demand. As we live in Stockport we were pleased to see that it is number 1 in top 10 biggest increases! The index attributes a percentage score for each area based on the level of stock available on the major property portals, to that which has already sold, before calculating the total change between indices. The data shows that nationally, property demand has fallen by -7% overall, now at 38%. But perhaps the biggest surprise of the year is where demand is currently strongest and which areas have seen the biggest increases. Bexley (65%) drops to third from its usual top spot, toppled by Solihull (77%) and Portsmouth (67%). Demand is also 65% in Bristol with Northampton (60%), Medway (59%), Gloucester (58%),...
You have made the decision to sell your home, you’ve contacted an estate agency and you are eager to move on and enjoy a new home. At this stage, your focus is on staging your current home and making it as appealing as possible so that you ensure a pain-free sale. At this stage, it really pays to do your homework and make important decisions regarding presentation, atmosphere and furniture placement. Lack of living space is one of the biggest reasons people give for wanting to move. With this in mind, it is of utmost importance to ensure that your home looks large, welcoming and clutter-free. A degree of stylish minimalism can help you to achieve this goal and provide the healthy middle ground between ‘lived-in and messy’ and ‘characterless and empty’. Done just right, you can set the scene and carefully present a house where house hunters can really...
THE COST OF ‘FREE’ SCHOOLING: FAMILIES PAY AN AVERAGE PREMIUM OF £43,773 TO BUY A PROPERTY IN THE CATCHMENT AREA OF A PRIMARY SCHOOL RATED OUTSTANDING BY OFSTED Properties in the locality of Ofsted rated ‘outstanding’ schools cost families on average nearly a fifth (18%) more than other properties in the area St Luke’s Primary School in Brighton and Hove commands an average premium of £151,121 to buy a property close to the top rated school London, 26th May 2016 -- To secure a place at one of the country’s best performing state-funded primary schools comes at a price. According to research by online estate agents, HouseSimple.com, families are having to pay a premium of almost £44,000 to buy a property near primary schools judged as ‘outstanding’ by Ofsted inspectors. HouseSimple.com looked at average property prices in catchment areas for 50 state-funded primary schools across England that received the highest...
In today’s economy, people are more strapped for cash than ever before, and they’re turning to the housing market to give their savings that much needed boost. Should you let out your property, or at least a part of it, in a bid to ease the strain on your finances? Well, here are just four reasons why it could be the smart move you’ve been waiting for. It will give your finances a boost The main reason why people are thinking of renting out either a room or their whole property is that it will create cash much quicker. It can be a fantastic solution for families who are struggling to make ends meet, but who currently have a spare room full of junk or a basement that could be converted. Not only will it help you through those difficult months until you find your feet, but the work you...
Selling a home can be an incredibly long and tiring process. Due to uncertainty in the market because of the pending EU referendum, house prices are falling at the moment and homes are taking longer to sell. As such, it isn’t as simple as heading to the estate agent, placing your home on the market and watching it sell. As a result, it is well worth exploring other options. Selling Online If you like the exposure of a traditional estate agent but don’t want to pay out such a large chunk of your house price, then an online estate agent could be a good choice. These are often cheaper than high street estate agents and charge a flat fee. You don’t quite get the same level of exposure, but you do get expert advice and help in shifting your property. If this doesn’t sound appealing, you could sell your home...
Leading online estate agent, eMoov.co.uk, has released research into the Waitrose effect on house prices surrounding each of the supermarket’s 300+ UK stores. eMoov’s research found property surrounding Waitrose stores costs £456,000 on average, more than double that of the UK overall (£221,254), having increased 7% over the last year. It’s well known that the close proximity of a house to sought-after amenities can help increase a property’s price potential. Previous research by eMoov found that a mainstream supermarket, such as Waitrose, was the second most important amenity to UK buyers (30%) - beaten only by the British corner shop. Waitrose opened its first supermarket in Streatham back in 1955. Since then the average house price has increased by over 11,000% and now tops £461,000 in Streatham and £220,000 nationwide. The allure of a Waitrose is clearly more appealing to Britain’s upper class than a discount store such as Aldi,...
With yet another online estate agent joining the sector in easyProperty, the growing popularity of the online route to sell in the UK is clear for all to see. The latest online venture will mark its entry to the sector with a PR stunt through London tomorrow (29th September). The stunt will be in the form of a slow drive funeral procession through the streets of London, supposedly marking the death of the high street estate agency sector. A three mile New Orleans-style funeral procession, band included, will travel through Westminster, starting outside a Foxtons office and ending at Piccadilly. The online sector has come a long way since industry leader eMoov.co.uk began selling homes for a much fairer fee than the high street back, in 2010. It is no longer just about providing a cheaper alternative, but about providing a better, more empowering service for the consumer, than found on the...
When people think of the iconic towns and cities of the UK Harrogate is not the first place that pops into the mind. The historic Yorkshire spa town has barely made a dent on the national consciousness let along at an international level.
From choosing estate agents to preparing your property and receiving viewers, selling your home can be a stressful time. It’s also not a market most of us enter very often, so things can change dramatically between buying, then selling a house a few years later.
Key points New analysis from Rightmove shows the biggest gap between demand and supply is in the first-time buyer sector: Number of enquiries per property for two bedrooms or fewer is 24% higher than for larger properties of three bedrooms or more Challenge for government, planners and developers is how best to address this specific demand Price of property coming to market sees marginal increase for the second consecutive month to a new record high, up 0.1% (+£191) to £294,542 Sharp drop in new seller numbers emphasises supply crisis and shortage of people trading up: Number of new sellers down 10.6% on same period in 2014 High June demand with Rightmove visits and enquiries to agents both up 22% on last year The price of property coming to market has hit a new record high for the second consecutive month, albeit only a small 0.1% (+£191) increase on the month...
Research by leading online estate agent eMoov.co.uk has found that demand for London property has increased for the first time this year, having declined steadily since June 2014. Demand across London’s boroughs has climbed by 7% since March, although it is still down -15% since this time last year. Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “It doesn’t surprise me that despite the market cooling in some of the capitals more prestigious boroughs, house prices in London have continued to rise. It’s long been accepted that London is one of the most expensive cities to live in the world, let alone the UK, but now that the average house price has tipped above the half a million mark, it really highlights how out of control the property market has become here. The main factor in price growth is always demand and our latest Property Hotspots Index found that...
Dealing with estate agents can be tricky, however when buying a property it’s more or less a given. The buzz words and general estate agent jargon can often be confusing and tiresome; who wants to be bamboozled by talk of properties having ‘easy access to the city’, only to realise that in reality they mean ‘easy access to a train station that’s an hour from the city’.
Press Notice 19th January 2015 London The Property Redress Scheme (PRS) is seeing an increasing number of consumer complaints being made against Lettings, Property Management and Estate Agent Members now that their Consumers are being made aware of their right to redress. The PRS is one of three consumer redress schemes authorised by the government whose role it is to provide fair and reasonable resolutions to disputes between members of the public and property agents. By law, all Agents, as defined by legislation, must be a member of one of these three schemes. The number of complaints raised with the PRS is increasing month on month. Of the complaints raised so far, 44% were by Landlords and 41% were by Tenants, with the remaining 15% being raised by Buyers and Sellers of property. The complaints have varied widely in content, with the top three grievances being unfair or excessive fees...
House prices are on a lot of people’s lips a lot of the time and so I thought that perhaps I could contribute by collating some recent news items from across the country. The gist of them all is that house prices are rising rather quickly across the UK and especially in large metropolitan areas like London. They’re great for the sellers, not so much for the buyers.
The high-end homes of London lie in some of the most picturesque and affluent areas of urban England. For prospective buyers, the choices are endless. To help you navigate your way through Londons high-end market, here are some top tips.
Whilst house prices are booming in some parts of the UK, particularly London. The housing market isn’t particularly strong in many places right now, but that doesn’t mean that sellers don’t want to get a good price when they decide to bid goodbye to their homes. With small differences in price being worth thousands, it’s certainly essential that you get as much as possible when you sell, these five tips below will help you. Know Your Market Every type of house has a type of buyer, and if you know what that is, you can cater for it. Tailoring your approach and presentation, even the estate agent you choose, will mean that you appeal better to your target market. This information can easily be found with a little bit of research online. Be Neutral When presenting your home to potential buyers, you want them to visualise themselves in your...
The face of property selling has made a dramatic shift over the last 10 years. Whereas it used to be that the majority of property buyers would discover homes for sale using the services of estate agents, it’s now more often than not the case that buyers will turn to the internet as their first port of call.
There’s probably not a British person alive who doesn’t look back with fondness on happy childhood days spent playing at the seaside. In fact, it’s almost certain that this sense of nostalgia has something to do with the popularity of seaside holidays in the UK, where every year hundreds of thousands of Brits will forgo a foreign excursion. In favour of a more traditional vacation in places such as Blackpool and Southend, whose popularity soared with the advent of ‘pleasure palaces’ in the Victorian era.
The RICS Market Survey for February 2014 shows a continued tightening of the market as demand strengthens even further. Key Facts Sales to stock ratio has hit a high post the financial crisis Strong price momentum still in all UK regions Price and Sales expectations at 12 months are at the peak for the series The headline price balance for England and Wales is about +45, meaning 45% more surveyors saw prices increases as opposed price falls. Leading this is the South East with about +75 price balance with Yorkshire & Humberside strong at just below +55. London interestingly has fallen back from the 3 month average of approx +75 down to just over +45. At the bottom of the regions is Wales with a price balance just below +10, down from the 3 month average of +15. The continuing demand along with a continued lack of new instructions is driving...