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2014 UK Property Prices To Increase Further

2014 UK Property Prices To Increase Further

UK Property Prices Extend Best Run Since 2007

There was some good news for property investors looking for capital appreciation this week as it was reported that UK property prices have continued to rise, increasing for the 14th consecutive month in March 2014, the longest run of price growth for nearly 7 years.

Residential property values across the UK increased by an average of 0.6% in March, with the South West and East Anglia regions recording the largest property price increases of 0.8%, according to data supplied by Hometrack Ltd.

Yorkshire & Humberside and the North West regions registered the smallest gains, with property values increasing by just 0.2% in March 2014.

Even independent surveyors are forecasting property prices to increase by a further 6% this year and are including this information on property condition reports for prospective purchasers.

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Advertising Property For Sale

Advertising Property For Sale

Once you have made the decision to put your property for sale on the open market you will need to decide on your marketing strategy. There are various options available in the UK for sellers to consider; do you want to go it alone with a private sale, stick with convention and instruct a local high street estate agent or opt for the middle ground with an internet based agent?

Each option has its pros and cons but no matter which you choose you will need to get the property for sale seen by potential buyers!

For sale boards are a great strategy. Many people consider them old fashioned but they really are a cost effective, simple and efficient way of generating interest in your property. For sale boards will work more successfully for some properties than for others based on two main factors.

Firstly the area, is there good footfall or a high level of passing traffic?
The board needs to be seen in order to work!

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Confusion Remains Over Displaying EPC's

Confusion Remains Over Displaying EPC’s

As of the 9th January 2013 the laws regarding Energy Performance Certificates (EPC’s) changed, however some landlords have stated that the regulation changes are still causing some confusion.

An EPC is a certificate stating how environmentally friendly a property is. By law an EPC must have been commissioned on all properties prior to marketing for sale or to let, and must be obtained within 7 days of the property first being marketed.

If an EPC is not obtained within 7 days, a further 21 days are allowed providing it can be proven that all reasonable efforts were taken to obtain the EPC beforehand. It is the responsibility of the seller or landlord of the property to obtain the EPC not the Estate Agents.

Although changes have been made there are certain similarities between the new laws surrounding EPC’s and the previous regulations.

For example, EPC’s are still required for all properties with the amendment that listed buildings are now exempt. An EPC must still be displayed on all documents however; the requirement to put the front page of the EPC into advertisements and property particulars has now been replaced with a requirement to insert the asset rating instead.

A summary of changes that have been made due to the new legislation are as follows:

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New EPC Rules In Force From 9th January 2013

New EPC Rules In Force From 9th January 2013

The Energy Performance Certificate (EPC) shows the energy efficiency of a property, including any recommendations for improving the energy standards of the property, and it is a legal requirement in the UK that all properties for sale or to let have this certification. 

When letting or selling a property the EPC must be commissioned before any marketing can begin and a physical copy should be obtained within 7 days of the property first being advertised. That gives landlords just a week to instruct an agent, arrange an EPC and begin marketing the property for sale or to let. 

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An excellent opportunity to purchase this BMV investment property which is in good condition throughout.  Was marketed at £66,950 and we have secured a deal at £52,000.

Over the past 2 weeks we have been inundated with investment property which have sold within hours of being available. 

As we have a waiting list of investors the properties are sold on a first come first served basis and to clients who are serious about expanding or building a portfolio.  I therefore strongly advise you to register your interest if you are looking to purchase Buy to Let property with yields of 10% +.

This is the deal:-

Purchase Price          £52,000

Rent                         £485pcm

Market Value           Around £65,000

Yield                       11.1%

For photographs and further details please email lisa@thecastledenegroup.com

 For recent sales click here

If you would like to discuss this property further please do not hesitate to contact me on 0191 527 4007.  Quoting MPPT

Alternatively you can reserve this deal by e-mailing me lisa@thecastledenegroup.com Quoting MPPT

I would strongly advise that you are quick to secure as good BMV properties in good letting areas are selling fast.

 

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UK property market shows signs of life

UK Property Market Is Still Alive & Well

The overall number of properties ‘Sold’ in November 2011 was up +1.4% compared to November 2010 and up +0.1% against November 2009.

November has seen the UK’s residential property market start its traditional seasonal decline according to data released from the Agency Express Property Activity Index.

But whilst month on month properties nationally achieving ‘Sold’ status in November were down -7.1% on October 2011 and the number of new ‘For Sale’ listings recorded were down, by -11.8%, it was the second smallest November drop since the Index began in 2007.

Encouragingly, the overall number of properties ‘Sold’ in November 2011 was also up +1.4% compared to November 2010 and up +0.1% against November 2009.

Regionally, there were some positive signs with four of the twelve regions bucking the seasonal trend and showing positive figures for the number of properties ‘Sold’ in November against the previous month.

The North East topped the hot-spots up +18.8% on October, followed by the South West up +15.7% and Scotland up +12.0%.

When it came to the regional ‘not-so-hot-spots’ for November, West Midlands was bottom of the table with a drop in the number of properties ‘Sold’ down -15.9%, the South East was down -15.1% and the North West was down -15.0%.

The seasonal decline was more evident in the number of new ‘For Sale’ listings recorded in November against October, with only one region generating positive month on month figures, (which was London) up +7.8%.

At the other end of the table the regional ‘not-so-hot-spots’ for new ‘For Sale’ listings were Central, down -26.9%, Wales down -25.7% and Scotland down -23.9%.

Disappointingly, the number of ‘For Sale’ listings in November 2011 were also down -1.1% on the same month in 2010 but up +11.0% on November 2009.

A good number of individual cities bucked the seasonal trend and experienced increases in month on month house sales compared to October.

Nottingham topped the ‘hot-spots’ with an increase in properties ‘Sold’ in November, up +27.0%, followed by Newcastle up +25.3% and Colchester up +24.2%.

At the opposite end, the cities recording the greatest decline in month on month properties ‘Sold’ in November were Coventry down -58.8%, Southampton down -42.3% and Norwich down -27.4%.

There was a similar picture for individual cities when it came to New ‘For Sale’ activity in November compared to October.

Colchester topped the charts with a month on month increase of +13.7%, London up +7.8% and Brighton up +5.1%. Coventry saw the greatest monthly decline in new ‘For Sale’ listings compared to October, down -46.6%, with Bristol down -45.9% and Southampton down -39.2%.

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