Nottingham Letting Agent Property Blog

According to a recent survey by Rightmove, increasing numbers of second steppers are delaying having a family due to a lack of space. Some 40% of those still living in their first home feel they have insufficient space for children, and 7% are delaying starting a family until they can own a property large enough. The trouble is the average age for second steppers is now 41. Most first-time buyer homes are unsuitable for family homes in the longer term, but making the second step up the property ladder is proving difficult for many, especially those who may have bought their...

Research by Rightmove has found sellers are reluctant to spend money on their homes before putting them on the market, even though doing so could pay dividends. A lot of people are still struggling to sell their homes, and this trend looks set to continue well into this year. One option for making a home more sale worthy is to spend a few thousand pounds on preparing the property so prospective buyers would be able to move in without having the need to do any repairs or upgrades. The appeal of this lies in the fact that many buyers need to...

According to the latest figures from Rightmove, asking prices have fallen by 3.3% this month which is far greater than would normally have been expected. However asking prices for new listings are now up by 1.4% this year. A fall in asking prices is only to be expected this month, as this is being established as the time of year when the sellers get more realistic about property pricing. But this year has seen a pattern of shifting prices due to the Olympics and the Jubilee celebrations, although there was a recovery in October.On the whole prices have remained largely unchanged...

Latest figures from Rightmove have shown a yearly increase of 2% in property prices which is the highest annual increase since November 2007. However figures are being skewed by price growth in London, as if the capital city is removed from the equation prices have increased by just 0.2% year on year, but at least this growth is positive. But these figures aren't quite as straightforward as they seem, as many parts of the country haven't seen price falls. Property prices in the South East have fallen by 4.5% in November compared to October, and by 3.4% year on year. Property...

A recent survey by Rightmove has shown most buyers won't even bother looking at any property they feel is overpriced, even if they like the look of it. The survey found 62% would give such homes a miss even if the seller is prepared to negotiate on price. It's all too easy to overprice a property and to assume the price can always be negotiated downwards if necessary, but if these results are anything to go by it may not be worth the risk.The property market was relatively quiet over the summer due to the Queen's Diamond Jubilee and the Olympics,...

A recent survey by Rightmove has shown first time buyers are more likely to be university graduates, as 39% have a degree while 30% have a postgraduate qualification. However this isn't just down to increased earning capacity, as nearly a third of graduates receive some sort of family contribution towards buying a home compared to just 24% of non-graduates. Experts have pointed out that even though first-time buyers are still something of a rarity, those attending university should be encouraged as it does seem to improve your chances of getting onto the property ladder. The average age for first-time buyers who...

According to figures from Rightmove plc, home sellers were forced to cut asking prices in August due to a combination of concerns over the economy and the distractions offered by the successful Olympic Games. Asking prices fell by 2.4% to £236,260 compared to July, when values declined by 1.7%. Values were even down in London by 1.2%. Even though the Bank of England is trying to kickstart lending in order to boost the property market, it's still unclear as to how successful they will be. The housing market is still under pressure due to concerns over the euro debt crisis and...

The average asking price for property in the UK declined in July, and this is being attributed to the lousy weather and impending Olympic games. Rightmove found average prices had been cut by 1.7%, and this is the largest July fall since 2008. This meant asking prices dropped by an average of £4,138. Although January saw prices decline slightly, and prices remained unchanged in May, overall asking prices have risen for much of the year, and are still 2.3% higher than July last year. Asking prices in London declined the most by an average of 3.6%, but London prices are still...

A recent survey by Rightmove has found one third of tenants in the private rental sector spend half their income on rent, and the average amount spent by private tenants is 38% of their take-home pay. Unsurprisingly those in the south-east are worse off, as rents account for an average of 41% of take-home pay, and 36% spend more than half their income on rent. Those living in Scotland are best off, as rent only accounts for 35% of take-home pay, with just 21% paying out more than half of their income on housing.In spite of these high percentages the rental...

Apparently we're all feeling a bit more confident about the property market, as four out of five of us believe property prices won't fall in the next 12 months, and eight out of ten of us think house prices will either be the same or even slightly higher this time next year. Just over a third think property prices will be higher in 12 months’ time, and this is the most optimistic forecast for a year and a half. However one fifth think prices will have dropped in a years’ time, but this is the lowest percentage since the end of...

A new report from Savills and Rightmove, called Rental Britain, is forecasting that 20% of households in the UK may be in rental properties by 2016. This means another 1.1 million rental homes would need to become available. The funding required to provide this many homes is estimated to be £200 billion, and just one quarter of this is forecast to come from buy to let funding.At the moment there are around 4.8 million homes in the private rental sector, whereas in 2002 there were just 2.5 million homes. The private rental sector in London already accounts for 27% of all...

Property prices have risen by 4.9% since the beginning of the year, and according to Rightmove this is the largest Q1 increase since 2004. House prices increased by an average of 1.6% in March to reach £236,939. Prices rose in the majority of England and Wales, with East Anglia enjoying the largest monthly increase of 3.9%, while Yorkshire and Humberside saw prices increase by 3.3%. There was also a 16% increase in the number of people looking for a new property, and experts are hopeful this year could see a more robust property market.However there are still concerns that this jump...

Accidental landlords are being warned to tell lenders about that change of circumstances as otherwise they could be breaching the terms of their contract. These are landlords who have been forced to rent out their home due to the stagnant property market. The trouble is that some lenders are taking advantage of the situation and are putting householders onto more expensive buy to let mortgage rates. Policies can vary from bank to bank, but most will charge a slightly more expensive rate. Before the financial crisis things were a lot more relaxed and most banks were reasonably happy over allowing householders...

Uptown Court has been on the market since 2005, but somewhat unsurprisingly given its knees hefty £70 million price tag has failed to find a buyer. The 24-bedroom property has no less than five swimming pools including a rooftop infinity pool and an indoor pool accessed via a glass lift. It also has a heated driveway and a two-lane underground bowling alley as well as its own beauty salon, temperature controlled wine cellar and of course staff accommodation. Obviously no mega mansion is complete without having its own private cinema and helipad, and there's underground parking for eight cars just in...

Although properties are selling, albeit somewhat slowly, a new report by property listing website Zoopla has just revealed that two in five homeowners have had to cut their asking prices at least once. Apparently canny buyers are determined not to pay too much, and the average price of a property is being reduced by around £18,500, which is 7.1% off the original asking price.  According to estate agents, the number of reduced properties on their books has increased to 38.6%, up from 37% three months ago and 32% 12 months ago.It's not just the average three-bedroom house that is being reduced,...