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UK residential property prices rise to 8-month high

UK Residential Property Prices Increase To 8 Month High

UK Residential Property Prices Increase To 8 Month High

Sellers of residential property raised their asking prices by more than £8,000 (GBP) in October 2012, the biggest property price rise seen in eight months, according to property portal – Rightmove.

The typical residential property asking price rose by 3.5% month-on-month to £243,168 (GBP), as all UK regions saw prices increase.

The property search website said the autumn rebound showed “evidence of some life in the market”, although it suggested the upturn is most likely to be due to a lack of properties for sale, meaning would-be buyers have less choice.

The jump means prices are 1.5% higher than a year ago and goes some way to reversing an £11,000 (GBP) fall in residential property prices between June and September 2012, when the market saw a lull due to sporting distractions like the Olympics and Paralympics.

London still has strong overseas buyer interest and continues to perform relatively strongly and saw the biggest monthly increase in residential property asking prices, with a 4.8% jump taking average prices to £478,071 (GBP).

The South East and the West Midlands both saw 3.9% increases, while prices rose by 3.8% in the North West and by 3.4% in Wales, while East Anglia saw the smallest increase, with a 0.4% rise in residential property asking prices.

The forces that brought about the financial turmoil and economic mess around the world are still present and the majority of developed nations are not going to be able to figure out a quick solution…and sometimes the proposed plans for economic recovery don’t look all that promising.

The media keep spreading doom and gloom with daily news reports and depressing financial statistics, but is it the real, true, honest picture?

The honest answer is…..NO!

Property investors have been forced to use creative strategies, since the property crash in 2007/8, in order to profit from property as banks stopped lending, investment mortgages were withdrawn and access to alternative finance dried up.

Investor attitudes were labelled as falsely positive by many sceptics but the determination remained and only those with a firm belief, sound finances and solid investment strategies continued to prosper.

However, a renewed optimism has swept the nation following an uplifting and inspirational summer of achievement, with Queen Elizabeth II’s Diamond Jubilee, the European football championships, the 2012 London Olympics and Paralympics taking place and the effort and determination to succeed demonstrated by Team GB and athletes from around the world.

There is renewed hope emerging from the shadow of the last 4 years and a sense of purpose has returned to the UK Buy-To-Let market.

In recent weeks there has been a dramatic change in attitude towards UK property investment, despite the Bank of England’s quantitive easing policy and the raft of Government welfare reforms, banks are beginning to lend again, (although they are being quite selective at present). There has been an increase in the number of Buy-To-Let mortgage products hitting the market and property investment in the UK is up!

Even speculative investors are attempting to get in on the action, without any real idea of what they are doing. They realise that there is profit in property and their intention is to replicate the strategies of successful investors as property bargains abound.


Because life goes on! 

If you want to stay ahead of the game be concerned about YOUR own economy:

  • How will you cover future wants and needs? You know; University education for the children, your own retirement and life in general!
  • Can you hedge your own greatest financial asset – your job – and be assured it will always be there?
  • Will your salary grow substantially over time?
  • Can owning property replace your current income?
  • Is financial freedom really your goal?

These are questions millions of ordinary people, not investing in property, are asking, but the institutional answers are not really that clear or reassuring. 

Savvy property investors have already planned their investment strategies and have allowed for contingencies and have an exit strategy in place BEFORE spending a single penny.

If the current economic state is going to become the new normal, it doesn’t matter for property investors who have invested in themselves and have learned to earn!

Successful property investors realise that the only economy to be concerned about is their own and they are the ones that will always come out on top. 

Investors are finding ways of protecting and even growing their incomes, assets and plans for the future despite the fragility of global economies, including developing properties into HMO’s (Houses of Multiple Occupation), aquiring expert knowledge on Government proposals for welfare reforms including how to get LHA and Housing beneft payments for tenants direct from local authorities and seeking educational courses or investment forums with successful property investors who run workshops to help property investors.

London 2012 may have been a huge success but what happens to the Olympic venues now?The 30th Olympiad in London may be over and Team GB may have done themselves and the nation proud winning 29 Gold medals, 17 Silver medals and 19 Bronze (65 medals overall), but what happens to the Olympic sporting venues now that the games have ended?

The nation was promised a legacy by organisers and officials after London 2012 and it was widely publicised that after the 30th Olympiad in London and the Paralympics had finished in mid September, Olympic venues would form part of a £300 Million (GBP) regeneration for East London including 10,000 private residential homes.

Immediately after the games and once the Olympians and Paralympians have departed the venues and Olympic village, then construction workers will return to the East London site, now a familiar site to Billions of television viewers worldwide, to realise a major part of that legacy within the Olympic park itself.

The once industrial wasteland had been transformed during the last 7 years into the stunning Olympic park, venues and arenas that hosted superb performances by athletes and sportsmen from 204 countries competing in 330 events, captivating Billions of viewers on TV across the globe.

The Olympic site will now be transformed again, into the £300 Million (GBP) Queen Elizabeth Olympic Park, with new homes, schools, businesses, and open green spaces.

10,000 new homes will make up five neighbourhoods, planned over the next 20 years, as well as a new education academy at Chobham Manor and a health centre.

There are plans for each of the Olympic venues, including…

  • Olympic Stadium

With a permanent lower-tier capacity of 25,000 and flexible temporary steel and concrete upper tier to hold a further 55,000 that can be dismantled after the Games, it is set to be the new national home for athletics and host to the IAAF 2017 World Athletics Championships. It is hoped it will be used for concerts and other cultural and arts events. In addition four bids for use have also been received from West Ham United, Intelligent Transport Services in association with Formula One, UCFB College of Football Business and Leyton Orient.

  • Athletes’ village

It will become East Village as it is transformed into 2,818 new homes with a mixture of affordable tenures and shared equity. Kitchens will be installed, along with new carpets or timber floors.

  • Aquatics Centre

The local community, clubs and schools as well as elite swimmers are anticipated to be among the 800,000 visitors a year it is hoped will visit this venue to be operated by Greenwich Leisure Limited for 10 years starting in 2013. It is planned the centre will cater for national and European events, with regular users including Triathlon England and British Swimming. Two temporary wings will be removed, and pools have moveable booms and floors to create different depths and pool sizes.

  • Velodrome

This will form the heart of the new Lee Valley VeloPark for use by the local community, clubs and elite athletes and run by the Lee Valley Regional Park Authority. The site will include a reconfigured BMX track, a new mountain bike track, a new road cycle circuit, as well as a cafe, bike hire and cycle workshop facilities.

  • Eton Manor

Two separate venues will emerge from this site. A hockey centre with two pitches will become England Hockey’s national events venue and regional performance centre, and home to England and GB hockey fixtures. Five hockey clubs are interested in relocating to the centre, which will host the 2016 European Hockey Championships. Ten five-a-side football pitches will also be available. A tennis centre will comprise four indoor and six outdoor tennis courts which will be used for regional tennis development programmes and as a wheelchair tennis performance centre.

  • Press and broadcast centres

iCity, the sole preferred bidder, aims to create a centre for technology, design and research, including a conference centre and pedestrian square to provide space for broadcasting major sporting events, cafes, restaurants and bars.

  • The Copper Box

This will become a multi-use sports centre for community use, athlete training and events, operated by Greenwich Leisure Limited. It is anticipated it will be used for international competition and community use in a wide range of indoor sports including basketball, handball, badminton, boxing, martial arts, netball, table tennis, wheelchair rugby and volleyball.

  • Eton Dorney

The Rowing Centre at Dorney Lake, 25 miles west of London, was already a world-class facility which was improved for the Games, and will continue to be used as a top training and competition facility.

  • Lee Valley White Water Centre

Built for the Olympics, it will become a world-class canoeing and kayaking facility for people of all levels of ability, and a major leisure attraction for white water rafting, hosting the 2015 Canoe Slalom World Championships.

  • Greenwich Park

The temporary arenas at the grassland enclosure will be dismantled. The equestrian course at the royal park is undergoing work to return it to public use. Work is expected to continue into October. Elsewhere, work will commence on revitalising the grass.

  • ExCel

Will revert to its role as exhibition spaces in London’s Docklands for awards ceremonies, conferences and other sporting events .

  • Horse Guards Parade

Trooping the Colour will replace Beach volleyball at the parade ground as it reverts to its traditional role in London’s ceremonial life.

Map Of London 2012 Olympic Park showing Olympic venues

Map Of London 2012 Olympic Park showing Olympic venues

Win £500 with

Our sponsors would like to invite MPPT & Spotlight Readers to take part in a great free to enter competition…

WIN £500 towards your rent or mortgage!

With the London Olympics just around the corner, are giving Landlords and Tenants the chance to win £500

Enter the draw now by answering a very simple question  CLICK HERE!

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Good Luck!

Our sponsors would like to invite Spotlight Readers to take part in a great competition…

WIN £500 towards your rent or
Win £500
 With the London Olympics just around the corner, are giving Landlords and Tenants the chance to
win £500 towards their rent or mortgage.

To enter, simply visit our Olympic Competition page and answer one simple question!

Closing date is the 31st August 2012. 

Winners will be announced on the 30th September 2012.

Good luck!

The Team at

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1) Entry to the competition is restricted to one entry per person. 
2) Multiple entries will be disqualified. Automated entries, bulk entries or third party entries will be disqualified!
3) Competition is open to UK residents only.
4) Prize funds can only be sent to a valid UK address by cheque unless otherwise stated.
5) Winners will be chosen at random from all valid entries and will be contacted via email.  Names will displayed on our website and associated
6) The Judges decision is final and no correspondence will be entered in to.
7) The competition will run from April 2012 until 31 August 2012.
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