If you’re looking for your first home no doubt you’ll already have been given plenty of advice, both on what to look for in a property and what you might need to buy to turn it into a home. Indeed, it’s fair to say that you may even be feeling a little pressure to get that first foot on the ladder as quickly as possible. Some elements of the media are suggesting cheaper mortgage deals are already drying up as lenders begin to baton down the hatches in preparation for an interest rate rise while the Government’s Help To Buy scheme may not be available for ever, particularly in the current financial climate.
There’s been quite a bit of theorising in the property press recently about what sort of house brings the best price. Live on a street with a royal connection of some sort? Apparently it could add significantly to the value of your property (http://ow.ly/QXpmS) – although it seems an apostrophe is important. Live near the sea? If so, you could add as much as an extra 70% to the normal asking price (http://www.propertywire.com/news/europe/uk-waterfront-property-prices-2015072910802.html) Live on a lane rather than your more common “road” or “street”? That could be worth an extra £100,000 (http://www.propertywire.com/news/europe/uk-property-address-research-2015081210854.html)
It’s pretty tough to gauge which way the property market is swinging, even for those who watch it avidly. Just this month, the Halifax was announcing a slight drop in house prices (http://www.propertywire.com/news/europe/uk-property-price-index-2015080610832.html) while the Nationwide reckoned they were marginally up (http://www.propertywire.com/news/europe/uk-house-price-index-2015080410822.html). So, who was right? The answer is they both were; each company uses its own metrics to analyse how the market is performing and, as a result, it’s not unusual for them to come up with differing results. The margin of difference may not be that large but, on this occasion, it was around the tipping point, which left one saying one thing and the other something which, at first sight, seemed to be completely different.
Zoopla has announced a real time listing service meaning members (estate agents) can add new properties on to their websites within minutes. ZPG (Zoopla Property Group) who own several property websites and portals including Zoopla and Primelocation are currently in testing mode