Notice Board
PROPERTY PRICES
Property prices rose 0.2% to £220,385 in December, but fell 0.5% annually, reveals the latest LSL/Acadametrics House Price Index The LSL/Acadametrics House Price Index, the only house price index to use the actual prices at which every property in England & Wales was transacted, including prices for properties bought with cash, using the factual Land Registry data as opposed to valuation estimates or asking prices, also revealed London’s property values are 3.1% higher than last year and transactions in 2011 fell 2.1% year on year, but activity in the second half of 2011 was faster than the year before.
POSITIVE SIGNS
The first two weeks of 2012 have seen increased enquiry levels
Early signs for 2012 are positive , we are seeing alot of lovely homes that should come to the market in the next few weeks. We are also recieving high volumes of fresh enquiries from buyers and tenants suggesting that demand and potential supply have both increased.
JANUARY SALE
We need more property to sell and let. BUYERS WAITING! For a great marketing package and competitive commission deal call 01932 858885 or 01932 841020.
DECEMBER MARKET
DECEMBER UPDATE
Surprisingly sales in the first two weeks of the month have been very good, 3 sales booked this morning as this update is written. We have also had 14 offers in the last 16 days! Property coming to the market is as expected in short supply, January this will improve, we already have a good indication of what will come to Market early 2012. But based on demand we still need more homes to sell in Chertsey, Addlestone and Weybridge. Considering a move? Please contact usWe urgently need more property to sell, contact us today
RISING DEPOSITS
Average homebuyer's deposit has risen tenfold in the last twenty years
Research from bank first direct found that the average deposit has leapt from £6,600 to £66,000 since 1990 due to increasing house prices, and a reduction in mortgage levels. The average household income has risen 2.3 times in the same period, meaning that people must save for far longer to buy a home. Bruno Genovese, Senior Savings Product Manager from first direct - part of HSBC - said that 2010 was the most difficult year to buy a house in the last twenty years. The average house price is 6.3 times the average household income, and the average deposit is 1.7 times the average income. In 1995 and 1996 - the easiest years to buy a home - the average deposit was 3.4 times the average income, and the average deposit was 0.3 times the average income. "Much has been made of rising house prices, but the average deposit needed in the first place has actually risen more than twice as fast as house prices and almost four times as fast as income," he said. "This is why we are seeing first time buyers getting older, with more and more people struggling to get on the property ladder." The average age of a first-time buyer has risen to 35, and over half of those who are not on the property ladder think that they will never be able to afford to buy a home, according to recent research from Post Office mortgages. In contrast, those who bought their first home in the early 1960s were on average just 23 years old.
LETTING UPDATE
31 October 2011. Rental Supply Dries Up, more property required in KT13
It’s not just the London market experiencing a drought of quality rental properties; we have seen huge demand and rising prices in Addlestone, Weybridge, Byfleet and Chertsey. If your property is coming up for renewal, you are considering buying to let or your tenants have moved out call Kelly Butler now on 01932 841020
HOUSE SELLS AT ASKING PRICE
This doesnt happen every day in this market but we are please to report that Green Lane sold this week at its full asking price, happy buyer and seller.