Think people should be stopped from owning second homes - Kate doesn't!
See BBC1's Big Questions re- run from Sunday
Monday 30 March 2009
Wednesday 18 March 2009
Latest Property Market Update
Are January's 'green shoots' in the property market here to stay or will property prices continue falling? Read property expert Kate Faulkner's property market update!
For latest news on property prices, rental incomes, commercial property, self build and land prices, what's happening at auction and in the property investment and overseas market, visit the Designs on Property February 2009 Market Update
For latest news on property prices, rental incomes, commercial property, self build and land prices, what's happening at auction and in the property investment and overseas market, visit the Designs on Property February 2009 Market Update
Be careful who your overseas neighbours are!
Prices in Kenya for properties overlooking the coast are rocketing due to pirates buying them for cash! Read More
Whenever buying abroad, particularly in countries with a high crime rate or poor financial regulation, do carry out your research very carefully, particularly making sure that the land laws are robust.
Whenever buying abroad, particularly in countries with a high crime rate or poor financial regulation, do carry out your research very carefully, particularly making sure that the land laws are robust.
Wednesday 4 March 2009
American mortgages being bought and 're-sold' at a bargain price - could it happen in the UK?
Fascinating article from Bloomberg showing how companies are buying mortgage debt from lenders and then 'reducing' the loan so that it's affordable for the homeowner! On the one hand sounds like a sensible deal, but on the other hand, it feels a little like 'sub-prime' deals all over again! Read "Bank Charges May Surge as Mortgages Marked to Market"
Shanghai's first property downturn?
For all of us in the UK who feel hard hit by last year's property slump, it's worth remembering there is always someone worse off! Great article from BBC news on the first real property downturn in Shanghai.
Sunday 1 March 2009
Good article from FT.com
This is a good round up of what's happening in the prime London market, positively effected by the drop in new properties coming onto the market and the exchange rate attracting foreign buyers. This article shows that some markets are starting to recover - but it's slow, sporadic and will still take time.
FT article: More offers made on desirable residences
FT article: More offers made on desirable residences
How to spot the bottom of 'the market'
Suddenly the papers are full of 'green shoots' about the "property market". However, as we've already identified, there are thousands of different property markets across the UK.
So can we predict the bottom of the housing market? The short answer is 'not yet'! Many forecasters have been saying that the UK market will crash since 2000. However they were seven years too early! Not really forecasts you can rely on.
The real truth is that no-one can predict the bottom of any market until after it has already happened! And does it really matter?
If you are an investor, then buying 'at the bottom' or near to it is quite important as you make your money when you buy. However, as most property investors hold onto property for ten or more years, whether they buy 'at the bottom' or +/- 10% doesn't really matter over this length of time.
If you are looking for a home you want to live in for a good five to ten years or more, then it's a bit pointless waiting for the bottom of the market to buy. Firstly you may miss out buying the home that you want and secondly, why not just offer a price that takes into account any likely further falls?
Many buyers who are trading up benefit in a falling market as they can afford properties that would otherwise be out of their price range. This does rely on you being able to sell your own home and in current credit crunch conditions have the equity and deposit required to secure a decent mortgage.
The other key consideration is which market are we looking for the bottom of? The London or Edinburgh market? The market for 1930s homes? New builds? Listed buildings? A self build plot of land? The truth is there are thousands of different property markets and they will all 'bottom' out at different times over the coming year or two.
To help you identify 'How to spot if YOUR property market is bottoming out':-
Step One
Work out what the market is for the property you want to buy. It might be three bedroom homes within a three mile radius or it might a farmhouse in a village location.
Step Two
List how many properties you are interested in that are for sale and how many have sold over the last three months.
Step Three
Idenitfy two or three roads that have homes that you are looking to purchase and monitor weekly and monthly how many homes their are for sale and sold
Step Four
Checkout Hometrack to see in your postcode whether viewings, time to sell and the offer versus market price percentage are changing towards a faster moving market.
Step Five
Once you see that the number of homes for sale versus sold is starting to 'balance' and properties that haven't sold for some time are starting to come off the market, then it's likely that the market you are buying in is starting to bottom out. The biggest indicator is when people start competing for good properties in good locations.
For more information on buying and selling a home and the market, visit www.designsonproperty.co.uk
So can we predict the bottom of the housing market? The short answer is 'not yet'! Many forecasters have been saying that the UK market will crash since 2000. However they were seven years too early! Not really forecasts you can rely on.
The real truth is that no-one can predict the bottom of any market until after it has already happened! And does it really matter?
If you are an investor, then buying 'at the bottom' or near to it is quite important as you make your money when you buy. However, as most property investors hold onto property for ten or more years, whether they buy 'at the bottom' or +/- 10% doesn't really matter over this length of time.
If you are looking for a home you want to live in for a good five to ten years or more, then it's a bit pointless waiting for the bottom of the market to buy. Firstly you may miss out buying the home that you want and secondly, why not just offer a price that takes into account any likely further falls?
Many buyers who are trading up benefit in a falling market as they can afford properties that would otherwise be out of their price range. This does rely on you being able to sell your own home and in current credit crunch conditions have the equity and deposit required to secure a decent mortgage.
The other key consideration is which market are we looking for the bottom of? The London or Edinburgh market? The market for 1930s homes? New builds? Listed buildings? A self build plot of land? The truth is there are thousands of different property markets and they will all 'bottom' out at different times over the coming year or two.
To help you identify 'How to spot if YOUR property market is bottoming out':-
Step One
Work out what the market is for the property you want to buy. It might be three bedroom homes within a three mile radius or it might a farmhouse in a village location.
Step Two
List how many properties you are interested in that are for sale and how many have sold over the last three months.
Step Three
Idenitfy two or three roads that have homes that you are looking to purchase and monitor weekly and monthly how many homes their are for sale and sold
Step Four
Checkout Hometrack to see in your postcode whether viewings, time to sell and the offer versus market price percentage are changing towards a faster moving market.
Step Five
Once you see that the number of homes for sale versus sold is starting to 'balance' and properties that haven't sold for some time are starting to come off the market, then it's likely that the market you are buying in is starting to bottom out. The biggest indicator is when people start competing for good properties in good locations.
For more information on buying and selling a home and the market, visit www.designsonproperty.co.uk
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