londonpropertyfinders.co.uk

London is no longer at the top of the most expensive cities list, for now.

2009-09-22T14:05:24Z

Recent studies conducted by UBS Wealth Management showed that London is no longer one of the most expensive cities in the world to live in. Previously, London was ranked as the 2nd most expensive city, but it recently managed to slip down to 22nd place. The question is: does this fall relate in any way to the property market?
Londoners have always known that they reside in one of the top most expensive cities in the world, especially in terms of transport, property purchase, rental and day to day living expenses. London has the highest fare for rail travel, nearly double the amount of other European countries. UBS based their research on the comparison of 144 goods and services.
Many will now wonder if this new, lower position on the list will have a more deep rooted effect, especially in relation to property. Estate agents in London see a positive future for the property market, saying that there are signs of a revival and the market as a whole is definitely heating up, providing some relief to homeowners who wish to put their home on the market or who are looking to relocate.
Recent research revealed that the rental market is also stabilising. Letting agents in London are witnessing the improvements first hand, saying that people who cannot find the right home to purchase right now have considered renting in the mean time.
The average price of property increased by 0.8% in August and experts believe that it is now easier for first time buyers to obtain a mortgage, which will result in younger people considering purchasing a home. Home loans are also beginning to show signs of increase with many more home loans being approved, which sends out the message that purchasing a home is within everyone’s grasp.
So, which city is currently the world’s most expensive city to live in? Oslo, Norway, has taken top honours as the most expensive city worldwide. Following closely on its heels are Zurich, Copenhagen, Geneva, Tokyo and New York. London was not the only city to fall down, some surprise fallers included Moscow, Mexico City and Seoul.
Unfortunately for Londoners, the city’s time at 22nd place didn’t last long, as the Pound has recently begun to strengthen and London is once again moving up the list of expensive cities. But even with this change, the property market still believes that the market is slowly improving.
Lauren Potgieter wrote this article

Buying to let: the only way to climb.

2008-06-26T16:46:14Z

The property ladder is wobbling precariously on a vastly expanding wall of rising mortgage rates and increasing house loans. Many worry that the mounting risk of even attempting to clamber upon this rickety property ladder is perilous and pointless not to mention climbing over the escalating wall of interest rates and loans which appears to be impossible; however there is a way of benefiting from the house price crash. To profit from the crisis, why no buy-to-let? At London Property Finders we strive to help you find and buy the right property in the current market and this is why we suggest buying-to-let. It is no secret that house prices are falling. In the last three months the price of property has dropped by 6.1% - faster than any time since the bank began recording data in 1983. What this means is that if you can buy now, at a low price and hold tight, you will cash in at the end of the rocky road.Repossession is a realistic nightmare that many house owners are waking up to this summer. The original expected figure of repossessions given by the Council for Mortgage lenders (CML) was 45,000 this year. New figures by housing charity Shelter show repossessions could be 20% higher than these official figures. What this does mean is that rented accommodation will not be surplus to need. Buying a property to let has never been a quick money making trick; but those wise enough to play out the long game could be in for a real treat. The reality of repossessed houses entering the market also widens the range for potential buyers, enabling buyers to get a high quality buy-to-let property for an extremely reasonable price. A deciding factor in the success of a property is choosing the right area. This doesn’t necessarily refer to the cheapest or most expensive home, simply the most popular area. London has always been a desirable place to live. It offers fantastic opportunities for students, tourists and newly qualified professionals keen to make their mark in the capital city. The right property can be a worth while investment and we are here to make finding that ‘right’ property easy.It is of course important to choose who you are looking to rent to. Given the pessimistic nature of our current climate, a wise choice is to look carefully into how much rent you are likely to receive compared to how much the property will cost. Most buy-to-lets expect 125% of the mortgage rate as rent. Make a list of what you want to buy, your budget, who you are buying-to-let to, and then let us do the hard bit! We have even more pointers on buy to let properties for those of you still not ready to make the leap on our site.The property ladder may seem like hard work to climb at the moment, but those with good enough balance will prosper on the buy-to-let market. To discuss how you can steadily climb the property ladder visit www.londonpropertyfinders.co.uk

Have all the surveyors gone on holidays!!!

2008-06-04T12:23:26Z

Whilst everyone will admit the market is much quieter than this time last year, it’s taking ages to get a mortgage valuation done. On our last two sales agreed the first one took seven days to get a surveyor into the property and we have just agreed a sale in Pimlico and the lender has just booked the valuation for fourteen days time!!! I thought mortgage applications were way down??

UK House prices increase by 6.4% year on year - Land Registry

2008-02-28T16:01:26Z

House prices in England and Wales have increased by 0.9 per cent according to the latest monthly figures from Land Registry… The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7 per cent last month to 6.4 per cent this month. London experienced annual price growth of 13.1 per cent, with the average house price for January standing at £357,976. The largest monthly growth was seen in the North West with an increase of 2.0 per cent, taking the average house price there to £139,362. The volume of transactions was down on the same period last year, with an average of 100,648 per month in the months August to November 2007, compared with 117,173 per month from August to November 2006. Region Monthly/ Annual change/ Average price North West: / 2.0/ 5.8/ 139,362
London: 1.5/ 13.1/ 357,976
East Midlands: 1.5/ 3.4/ 146,288
West Midlands: 1.3/ 3.9/ 155,405
South East: 1.1/ 7.8/ 231,958
South West: 1.0/ 5.4/ 198,401
North East: 0.9/ 5.4/ 132,458
Yorkshire & The Humber: 0.9/ 4.3/ 147,201
East: 0.2/ 5.7/ 195,245
Wales: -0.3/ 1.3/ 140,289
Average prices/ Jan 2008/ Jan 2007/ Difference Detached: £278,362 £266,509 4.4
Semi-detached: £174,691 £165,038 5.8
Terraced: £146,127 £136,853 6.8
Flat/maisonette: £175,712 £163,289 7.6
All: £186,045 £174,826 6.4

Hot or Cold. Where do you Live?

2008-02-21T13:06:39Z

Interesting article in The Standard today written by Mira”The Guru” Barr- Hillel, about where’s hot and clod in relation to property prices per square foot in London. Hamptons have drawn up the figures, presumably from figures their branches in London have generated, so they’re probably accurate where Hamptons have a strong local office but weak where the local office is further away. £1,235 per foot, phew that’s hot! Not as hot as this though, £6,000 per foot. THAT’S SIX THOUSAND POUNDS PER SQUARE FOOT!!

Stunning House!!!!

2008-02-12T17:58:31Z

Whilst searching for a client in W2 I viewed this amazing house today. Unfortunately not suitable for my client but possibly the nicest house I’ve seen for months. It’s situated in a quiet relatively little known old Victorian mews in Bayswater and has a lovely quaint old world feel to it. The house has recently been completely renovated but the attention to detail is out of this world. Stunning kitchen with clever wine cellar, fabulous sitting room on the second floor and a useful roof terrace complete with outdoor jacuzzi. What more could a girl want!!! See the details here http://www.marshandparsons.co.uk/details.dtx?propertyid=8F158035-9B59-4DEB-A070-59885D81E5C6 or phone Lucy on 07957 588599 - She’s the best.

Whats the best Tube Line for property prices ?

2008-01-03T14:05:31Z

The Circle Line, according to a recent survey quoted in Property Review.It goes on to say that prices of homes along the Circle Line are the most expensive in London, averaging more than £1.2million. The zone 1 tube line serves 27 stations and runs for 14 miles through prime central London, including Sloane Square and Notting Hill. The Victoria Line was the second most expensive to live on, with average prices around £1.1 million. For full details of the survey see www.findaproperty.com

How to sell your house. The Right Way.

2007-11-20T15:48:59Z

1. Choosing an Agent. Get this right and your house sale will be considerably easier. Firstly you must research who is the best agent for your house. Look at which agent has the most amount of Sold By boards in your area specifically for your type of property. If you’ve got a house to sell make sure the Sold By boards are for houses and not flats or maisonettes in houses look similar to yours. If boards aren’t allowed in your area then you will have to go by the agents magazines and property portals to see which agent is marketing SUCESSFULLY recently, houses similar to yours. No use going with an agent who is great at selling flats if you want to sell a house. Finally choose an agent you can get on with. This might take some months and you will speak to the agent many times before you move.

2. Don’t over negotiate on the fees. Everyone wants to get a bargain but if you push the agent too much you will disincentivise them. He’ll be inclined to offer “the other house” before yours if he’s agreed a higher fee on that one. It’s human nature. You could consider offering a cash incentive, say £500, to the individual negotiator who sells your house, above the fee you agree with the agency. This will make your house stand out way above all the others and give you the best chance of grabbing that good buyer.

3. Presentation is critical. Buyers want to feel that they could live in your house, so neat and tidy EVERY WHERE is important. Get rid of all clutter and make all rooms feel as big as possible. How your house smells is critical. draw the curtains and make sure the windows are clean - let that light in. Some people are more sensitive to aromas than others. Again, if it smells nice, then it’s easier for a buyer to imagine living there. No buyer wants to live in a house that smells awful.

4. Make viewings easy. It can be very intrusive not to mention inconvenient to have people coming round to see your house but if you make it difficult then they will just go to “the other house”. Try not to put too many restrictions on when the agent can come round with viewers.

Buy To Let changes.

2007-11-15T13:56:22Z

Looks like the banks are tightening their criteria when it comes to lending on Buy to Lets - expected really. I’ve heard recently that some are now not keen to lend on some city centre new build developments which are currently on offer because of an expected drop in the capital value of the units between now and completion. They’re also looking for deposits of up to 25% as opposed to the more usual 15%. Well established residential areas with good transport links to the city are still good buys as long as the rental income covers all of the outgoings. Try and get one in good condition and ideally with some good furniture included. It’s a good time to push for a bit of a bargain.

Current state of the London Market

2007-11-13T16:25:52Z

Contrary to popular belief the market in central London is still strong. Whilst the number of new buyers entering the market is considerably down on the first half of the year, there is still a strong demand for correctly priced flats and houses presented in good condition and in good locations. There is still good demand from local buyers as opposed to those from overseas who may be affected by the current world banking situation or those struggling with a strong pound. Londoners and those living here long term still need somewhere to live and changes in family circumstances is still providing good demand.