Kate's Property Tips

Latest Rental Market Statistics

2012-01-12T05:19:00.000-08:00

Property Rental Market Update

2011 has proved a good year for the rental market. Firstly, lenders have started to realise buy to let investors are typically a ‘safe bet' when it comes to lending money and secondly, tenant demand is on the increase, meaning lower voids and rents have started to recover and in some cases overtake the heights achieved in September 2008. Much of the media's headlines about rent rises have however given an inaccurate picture as they compare year on year rents which ignore the fact that rents fell between 5% and 20% throughout 2009 due to excess rental stock from accidental landlords.

Current Rental Market Performance

Rental Market Outlook for 2012

Implications of the FSA Mortgage Changes for the Housing Market

2012-01-09T04:33:00.000-08:00

The UK Housing Market

The changes to the market are unlikely to have much impact in the short term as currently mortgage lending criteria is pretty much sticking to similar rules as the FSA intend to impose.

The main impact will really take place when the economy and the market is likely to start recovering. Normally during a recovery, lending criteria will be relaxed a little as house prices start to rise rather than fall and lenders feel more secure in approving mortgage loans.

FIND OUT HERE what the implications are for you!

Mortgage Changes

2012-01-06T04:27:00.000-08:00

To Get a Mortgage

The Financial Services Authority has just announced the latest round of suggestions to reform the mortgage market to try and make sure that the boom and bust in the housing market of 2000-2007 doesn't hit the UK economy again.

The first round didn't go well and suggested that there were going to be no self certification mortgages (where proof of income is not required). It also suggested an end to interest only mortgages. Not allowing lenders this flexibility would have very much put major restrictions on lenders to lend, meaning less buyers would have the finance to buy now and into the future.

READ HERE for the FSA's latest suggestions

Revised London Housing Strategy

2012-01-05T04:23:00.000-08:00

Mayor Publishes Revised Housing Strategy for London

According to a recent press release by the Greater London Authority, the Mayor of London has recently published a draft revised London Housing Strategy for consultation with the public. The 12 week consultation period runs out on 6th March 2012.

Since the first strategy was published in the early part of 2010 a number of reviews have taken place, with a number of areas having been identified where change is needed. In August 2011, the Mayor's initial proposals for this new strategy were published for consultation with the London Assembly and GLA Group.

READ ON for full details of the Revised Strategy

Empty Housing

2011-12-08T06:52:00.000-08:00

Empty Housing

Through many Government schemes, each political party always states their claim that they are going to bring back empty homes to habitable condition for the neighbourhood. The coalition government is no exception and has just announced that community and voluntary organisations will now be able to bid for Government funding.

The Government also claim this scheme could provide "excellent training opportunities for local people". For example, Youthbuild in Harrogate - the charity purchases empty homes for refurbishment by trainees under the guidance of a mentor. The refurbished properties are rented out to the trainees. This provides employment, training and affordable housing, while also giving young people a long term stake in the local area.

READ ON for more information on 'Council Tax premium' on empty homes

Property Market in the UK v's Heights of 2007

2011-12-07T06:45:00.000-08:00

Property Market in the UK v's Heights of 2007
Whatever is happening statistically month on month and year on year, it's important to be aware we are still a long way away from a housing market recovery versus the heights of 2007, apart from some areas in London. Prices remain at least 10% down versus pre credit crunch levels. More importantly the number of people moving is not increasing at all. In fact we are selling up to 60% less homes than pre credit crunch. Building of new homes also remains devastatingly low at just 100,000 homes a year when experts suggest that to accommodate newly formed households, we should be building over 250,000 homes.

READ MORE to find out more about the Private Rental Sector and First Time Buyers

What to do if you are a Landlord

2011-12-06T06:41:00.000-08:00

What to do if you are a Landlord

If you are a landlord, it is vital to make sure you maximise your rental income. Rents are not likely to continue to increase massively on-going. Rents are typically linked to wages and net income, and as this is being squeezed so much and with a pending recession on the way, there is already evidence that tenants can ‘only pay so much'.

Many landlords tend to try and skimp and save on keeping their property up to date, but this is usually a false economy. Tenants of today are not looking for somewhere cheap to rent for a short period of time, they are looking for a home to rent for some time to come.

READ MORE to find out how to get the best rental price for your property.

What to do if you are a Tenant

2011-12-05T06:38:00.000-08:00

What to do if you are a Tenant

If you are tenant, you really need to make sure you are ‘first choice' for landlords. To do this you should be ready to pass referencing and credit checks a landlord or letting agent will require to let the property to you. This means getting letters back quickly from employers to confirm your employment and salary, making sure any credit checks don't highlight any financial problems in the past, and securing a letter of recommendation from your previous landlord if you have one.

Once you have passed the referencing stage, it is vital to have a deposit ready to be paid over to the landlord or letting agent as soon as they confirm you can have the property.

READ ON to find out about how to avoid ROGUE LANDLORDS!

What's Happening to Rents Winter 2011?

2011-12-02T03:38:00.000-08:00

What's Happening to Rents Winter 2011?

The media has been full of news about dramatic rent rises since the summer of 2011, unfortunately this information though is misleading to both tenants and landlords.

Will the New Build Indemnity Scheme Work?

2011-12-01T03:35:00.000-08:00

Will the New Build Indemnity Scheme Work?

For this scheme to work, the lenders will need to be offering better deals than the existing deals 5-6% rates for 95% deals. This initiative can easily be measured over the coming months by two methods.

READ MORE to find out how the initiative can be measured and whether it will work!

Summary of the Government's new Housing Strategy Initiatives

2011-11-30T03:31:00.000-08:00

Summary of the Government's new Housing Strategy Initiatives

On 21^st November 2011 the Coalition government published its new housing strategy:- Laying the Foundations: a housing strategy for England.

So what new initiatives does the new strategy offer that will meet their claims?

READ THE SUMMARY HERE

What's the Latest News on New Builds?

2011-11-29T03:30:00.001-08:00

What's the Latest News on New Builds?

With the government just setting out its latest housing strategy, NHBC's figures on new builds show the number of homes registered in the public sector was just 1,887 in October this year, 17 per cent lower than September (2,266) and compared with October 2010, there has been a 41 per cent drop.

Although year to date figures are up, the latest October figures suggest that although the new coalition government are trying to build more homes, to date, their policy of scrapping housing targets and shaving £4 billion off the house building budget the reverse has happened.

READ the lastest on New Builds

How will the Eurozone crisis affect the Market?

2011-11-21T04:12:00.000-08:00

The Eurozone Crisis

There are some predictions that the current Eurozone financial crisis could wipe 10% off property prices in the UK, according to Taylor Wimpey. However, the real answer to how the crisis will affect you comes down to what problems the Eurozone will cause the UK.

The result of a continued Eurozone crisis is twofold for the UK. Firstly, should countries such as Greece and Italy ‘default' then this is likely to cause another credit crunch. The impact this will have is mainly on the provision of lending, as happened in 2007/8 when many mortgages were pulled and stringent criteria such as needing a 40% deposit to buy a home or have as equity to access reasonable mortgage deals. So a continuing crisis in the Eurozone is likely to make it tougher to secure mortgage lending, especially for the likes of first time buyers who have smaller deposits.

FULL ARTICLE CONTINUES HERE

Current and Future House Prices

2011-10-31T03:40:00.000-07:00

Real Property Prices: Understanding what is happening in a Summer property market is always difficult due to the impact of the holiday season. This, coupled with the poor economic news of trouble in Europe, the USA being downgraded from its triple AAA rating, economic growth in the UK being worse than forecast and the stock market tumbling from nearly 6,000 to 5,000, could have caused the property market to stall dramatically. READ MORE

House Prices Forecast: Knowing what's going to happen in the future property market is a tough thing to get right for any pundit at the moment. In the current property market, predicting this at a national level is almost a fool's errand too as pockets of the country and certain property types are holding up remarkably well, whereas in some areas, the ‘double dip' in property prices is well and truly underway.What will happen to Christmas 2011?

Buy Property Investment to Renovate

2011-10-11T05:10:00.000-07:00

Renovate Property

With the property market firmly in the doldrums unless you are lucky enough to afford £500,000 plus properties in wealthy areas of London and around the UK, many people are looking at investing in property, hoping to buy at a bargain price, renovate and sell on at a profit. The key question though is in a stable to falling market will renovating property for profit pay off?

Years of Sarah Beeny's Property Ladder has instilled a real desire in the UK to buy a wreck and turn it into a beautiful home which you can sell at a profit either now or later on. The problem though is making a profit out of renovation during a recession is quite tough - especially with the restrictions on mortgage lending. And that's why we aren't seeing many property programmes on our TV screens at the moment!

READ ON TO FIND OUT MORE about renovating property as an investment

First Time Buyers' Home Purchase Guide

2011-09-29T07:17:00.000-07:00

Here is your FREE essential purchase guide for first time buyers from Kate Faulkner, MD of Designs on Property author of Which? Buy, Sell Move House. Kate says "It is vital to secure independent, professional advice from people that keep up to date with all the latest news and views on the property market to give you a real guide to buying your first home". Kate continues "many first time home buyers rely on parents or friends to guide and advise them on buying a first home, but their advice is only based on their experience of buying a home probably some years ago or recently, but their circumstances are completely different to yours." This is why Kate has produced a quick FREE five step guide to buying a first home.

VIEW FIVE STEP GUIDE HERE!

If you need to sell: Listen to your local Property Professionals!

2011-08-11T07:01:00.000-07:00

If you need to sell: Listen to your local Property Professials!

Unfortunately many sellers will trust what they hear in the media a lot more than they will believe from their local estate agent. If the well known and trusted BBC say ‘prices are going up by 5%' we will believe them rather than a local agent telling us ‘prices have slipped by 5%'. For buyers it is the same, certainly in the first few months of their home hunt.

The problem though is most of the estate agents will give a more accurate idea of what's happening to property prices. At the moment, we have areas that are recovering to the dizzy heights of 2007 while other properties and areas are selling homes at half what they were worth a few years ago. And with few buyers around at the moment and the credit crunch squeeze still holding mortgage lenders back, sellers who don't carry out research to find out what their property is really worth from an agent that is currently selling similar property types, are likely to get left on Rightmove for some time!

READ ON for the full article

New FirstBuy Scheme Announced

2011-06-30T08:01:00.000-07:00

The Homes & Community Agency announces help for First Time Buyers to get ‘on the property ladder' with the new FirstBuy Scheme.

A new scheme called FirstBuy has been announced, including the housebuilders that will be taking part. A total of £210 million has been allocated during 2011 to 2013 to provide nearly 10,500 new homes for sale in England, with the first time buyer homes expected to be available for sale in September 2011.

FirstBuy works by offering a loan of up to 20% of the purchase price to help prospective buyers secure a property without having to raise the 20-25% deposit themselves. The 20% ‘equity loan' is provided by the Homes & Community Agency and the other half by the housebuilder.

READ FULL ARTICLE HERE

How to avoid being stung buying property in a falling market

2011-06-20T05:05:00.000-07:00

Tips to Buying a House

In today's market when there is lots of ‘doom and gloom' it is easy to think that this isn't a great time to buy a property. However, a falling market might be the very best time to buy the house of your dreams at a ‘knock down' price as there are less buyers around to hold up the price. So how do you make an offer on a property which ensures you don't get ‘stung' with a property worth less than you bought it for?

READ MORE to find out!

How to Haggle in the Current Property Market

2011-06-14T07:06:00.000-07:00

How do you buy a house?

The current market is back in the doldrums and when the property market is falling, past experience tells us it's a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Follow my step by step guide on how to buy a property by haggling down the price.

Steps to haggle in the current property market

How do you get the best deal when buying a house?

2011-06-06T07:18:00.000-07:00

If you want to buy a property at a discount or get a great deal versus the real value of a property, then you'll need to be a cash buyer. In other words, you will need to physically have the cash in the bank. It is possible to be considered as a cash buyer if you haven't a property to sell but still need a mortgage, but unfortunately since the credit crunch even a mortgage agreement in principle isn't a guarantee you'll secure the money.

Want to know how to secure a property for a discount or via a quick sale? READ ON!

When is the best time to Sell a House?

2011-05-26T06:34:00.000-07:00

When to Sell a House

While we are in recession the media reports on property prices are always confusing. Some days prices will be reported as going up, the next down! With inconsistent reports, it's tough to know when is the right time to sell a house is. Kate Faulkner, MD of independent property advice site Designs on Property explains how you can work out when is a good time for YOU to sell your home.

When is the right time to buy a home?

2011-05-19T03:22:00.000-07:00

If you ask most people when they'd ideally like to buy a home, almost all will first respond with ‘when I can get a bargain' and to answer this question quickly, bargains are available when the property surveys are reporting, along with the media, when the market isn't performing well and prices are falling. Buying at the right time can also depend on what you are buying and your own personal circumstances.

So, when is the right time to buy a home?

Tips to Sell a House

2011-05-10T03:21:00.000-07:00

If you are selling your home, the key tip is to check how appealing it is from the moment a buyer first sets eyes on it. With the internet 'ruling the roost' when it comes to viewings and house sales, in a buyers' market, if your home doesn't instantly appeal, no one will even bother to view.
READ MORE to see our photos for tips on how to use photos and kerb appeal to help sell your house.

National Homebuyers' Week

2011-04-21T03:15:00.000-07:00

For all you potential property purchasers out there, I've produced an essential 'mini' homebuyers' guide for National Homebuyers' Week.

This essential guide includes information on mortgages, surveys, removals/storage, buyers' research, legal steps, plus checklists.

Download your FREE essential 'Mini' Homebuyers' Guide here!

Will preliminary contracts when buying and selling a home work?

2011-04-12T06:22:00.000-07:00

House Contracts

Currently, according to a government survey, around 31% of house transactions fall through after offers have been accepted. The effect of the credit crunch and recession on the property market is that holding sales together has proved harder than ever before.

Buyers and sellers are both losing confidence and pulling out of deals, or people are finding they have been approved for a mortgage in principle, and then the lender has pulled the mortgage. Some people are trying their luck at making offers, then trying to reduce them prior to exchange. READ ON to find out what Kate thinks of 'prelim contracts'!

Buying to Let Advice

2011-04-05T03:27:00.000-07:00

Kate Faulkner is teaming up with Paul Shamplina of Landlord Action for a one day Seminar on the Possibilities and Pitfalls of Buy to Let. The one day event takes place on 21st April in London (limited places). So, if you're thinking of buying to let or investing in property, or already have started in buy to let, this is a MUST ATTEND event - miss it and it could cost you dearly! BOOK YOUR TICKETS NOW!

2011 Budget - Housing

2011-03-29T06:21:00.000-07:00

Not particularly an exciting budget day for home owners, buyers, sellers or renters, but that’s to be expected when we are in a recession and budgets are being cut! There is some good news though! - READ MORE. Kate Faulkner’s comments on Housing for the Budget

Landlords – Seven Ways to Minimise Your Property Taxes

2011-03-22T05:43:00.000-07:00

Rented Property Tax

Minimising taxes is one of the easiest ways to boost your property profits. Here are seven tips to help you reduce your taxes - READ MORE

Are New Build Properties a Good Buy?

2011-03-21T02:01:00.000-07:00

Despite a good month for developers in November, December showed a real slowdown in activity. Prices fell slightly, but not significantly and buyers are definitely holding back. So, are new build properties a good buy? What's going to happen to new property prices during 2011?

Are New Build Properties a Good Buy?

READ MORE for new homes prices and statistics

How to Buy a Flat

2011-03-03T08:07:00.000-08:00

Buying a flat as opposed to a house is different. There are various reasons why buying a flat is different to buying a house. These are typically because you buy a flat under a ‘leasehold’ agreement. A leasehold agreement essentially means that you buy the flat, but have to abide by the freeholder's rules and regulations, which include clauses on how costs for maintenance and repairs as well as insurance are applicable if you become the owner.

READ ON to find out the key differences between buying a house and flat and essential checks you need to make before purchase!

First Time Buyer Stamp Duty

2011-02-22T02:53:00.000-08:00

First Time Buyer Stamp Duty

Stamp duty is a tax that buyers have to pay to the government when they purchase a home. Recently for first time buyers, there was some good news on the stamp duty front. From 25th March 2010 to 25th March 2012 as a first time buyer paying stamp duty, you are exempt if you buy a property under £250,000.

As the average first time buyer buys a property for £138,000* (source CML) this should mean most, if not all, first time buyers pay no stamp duty at all. READ MORE

Find out about First Time Buyer Help

Best First Time Buyers' Mortgage

2011-02-17T06:35:00.000-08:00

Best First Time Buyers' Mortgage

One of the questions first time buyers ask us is ‘which is the best mortgage for me?’ Unfortunately the best first time buyers' mortgage for you will depend purely on your own financial circumstances, how long you will own the property for and whether you are buying alone or buying with other people.

One important thing to remember when researching the best first time buyers' mortgage for yourself is that the only people that can legally advise you on this is someone that is a fully qualified mortgage broker or independent financial advisor.

Find out how to research for your first mortgage.

Look at our First Time Buyers' Property Pack.

15 Ways for Tenants to Spot a Fake Landlord!

2011-02-15T05:16:00.000-08:00

Find Property to Rent

Recent news reports of unscrupulous people taking over someone's home and renting it out to either one or more tenants means that if you are a homeowner, a landlord or a tenant, you need to take precautions to avoid being scammed!

If you are a prospective tenant hunting for a property, then it's vital to follow our top 15 ways to spot a fake landlord BEFORE you hand over any money!

READ ON to find out who you should rent from!

15 Ways for Tenants to Spot a Fake Landlord

Adverse Possession

2011-02-14T06:45:00.000-08:00

If you own a property, there is a rule that sometimes allows a squatter to claim ownership of the property by ‘adverse possession’.

It is actually very rare for squatters to claim this right as they do have to have lived in the home without the owner’s permission for 10 or more years. Whereas most people that own an empty home would find out about it and take action.

READ ON to find out how the law has recently changed regarding squatters!

What can you do to avoid squatters taking over your property?

2011-02-10T04:15:00.000-08:00

Avoid Squatters

One of the more problematic effects of the recession is that more people appear to be squatting than before. By its nature, squatting isn’t something that is measured, but estimates are that 20-30,000 people squat and most squatting takes place in London.

In the past, this has mainly been in commercial or residential properties that are empty. Now though we are starting to hear of bizarre cases where a home owner goes on holiday or in one case, a man took his dog for a walk, only to find that when they came back home, someone had moved in!

Find out how to avoid squatters taking over your property

Major news for Oxfordshire Landlords!

2011-02-08T01:52:00.000-08:00

Are you letting out properties in Oxfordshire?

Any landlords looking to let rooms in the Oxford area need to make sure they are letting their properties legally as the local authority decides to insist all properties with rooms to let have a Homes in Multiple Occupation licence.

Normally to require a licence for an HMO you typically need to have three or more storeys and five plus tenants who are not related.

Attention all Oxfordshire landlords - find out what you need to do now!

London Rental Flats

2011-02-01T06:21:00.000-08:00

Are London tenants having to downsize?

We have long been reporting of the dramatic rise in rents, especially in stock strapped London. Property consultants Cluttons are seeing this dramatically affecting the rental market as “rising rents are forcing tenants to search for smaller properties, creating fierce competition for one-bedroom flats”.

So, sadly for Londoners who normally prefer a bedroom and an office, many are having to give up this luxury extra space to try and keep rents and overall outgoings down.

Find out what this means for London Property Investors.

Could 2011 be a good year for Property Investors?

2011-01-31T09:07:00.000-08:00

Is this the year for Property Investors?

If you have cash as a property investor, or are making your money from buy to let, then 2011 should be a pretty good year for you!

This year has already seen an increase in activity, particularly at the auction houses. So a fab time to go hunting for a bargain!

Find out what to consider; what to avoid and which property investment deals will work in 2011.

Tenancy Deposit Disputes

2011-01-27T10:02:00.000-08:00

Protect Your Tenants' Deposits

Love it or hate it, the need to protect tenants' deposits is here to stay and if you don't protect tenants' deposits, as a landlord, then you are likely to find it difficult to evict a tenant that's not paying the rent and you are likely to be breaking the law too!

There are two types of schemes that you can join. Some are more suited to self managing landlords, others targeted more at landlords' agents.

READ MORE to find out how you can avoid a dispute with your tenants.

New Homes Market - Which are the Top Performing Areas?

2011-01-25T04:22:00.000-08:00

November was a surprisingly good month for developers. Property prices bounced back from October's lows to an average of £220,000.

Overall though, prices last November were around £218,000 and £220,000 in December 2009, so, as with the re-sale market, prices remain fairly stagnant year on year.

What's the New Homes outlook for 2011?

Which are the top performing areas?

House Auction Prices

2011-01-24T06:36:00.000-08:00

Bag a Property Bargain in 2011?

November's auction results start to support a slow down in the sales of residential property as the number of properties coming through the auction houses increased dramatically. November lots were up by 12% versus November 2009 and the number of lots sold was up by 8%, although the value was down by 3.6% as the percentage of lots sold was less than 60%.

READ MORE to find out how to find a property bargain

READ MORE for the latest property auction survey

Snow Impact on Rental Market in December 2010

2011-01-20T09:04:00.000-08:00

For many places outside of London and Southern 'hotspots', rental incomes started to stagnate a little as deals were done to get tenants in before Xmas and avoid voids over the cold period.

The biggest problem for landlords, tenants and letting agents however were not the usual disputes, voids or rental changes, but the snow!

What are the problems for:-

READ Kate Faulkner's rental advice!

House prices in my street

2011-01-18T01:24:00.000-08:00

House prices by area

Local property prices and house prices by area are starting to show huge variations across the UK, meaning that the 'average house price' stats produced on a monthly basis by the top five property price surveys, are becoming almost meaningless. READ MORE to find out why.

Find out what's happening in your street and the best and worst performing areas - READ MORE.

House Prices in UK

2011-01-17T08:07:00.000-08:00

December 2010 Property Analysis

End of year analysis from all the property price indices and agents for 2010 in December agree that despite some rises in the first half of the year, the falls in the second half of the year, meant the average house was worth pretty much the same at the end of the year as at the start.

READ MORE to find out the past, current and future property market indicators.

What should buyers and sellers do in 2011?

Help for First Time Buyers

2011-01-13T07:45:00.000-08:00

First Time Buyer House

If you are first time buyer it can be confusing trying to understand what is the best house for a first time purchase. For example, should you buy a flat for the first time or a house with a garden? Where should you buy? Close to town or out in the sticks? Is an old house that needs a lot of work a good idea for first time buyers?

Where should first time buyers live?

House Property Prices - What Should Buyers and Sellers do in 2011?

2010-12-16T05:27:00.000-08:00

November property prices and volumes continue to show a 'depressed' picture from a 'national' perspective. The number of properties available for sale has started to slide slightly as potential sellers worry more about getting through Christmas rather than putting their properties on the market.

For the past, current and future house price indicators READ MORE

What Should Buyers and Sellers do in 2011?

READ MORE for regional property data.

Estate Agent Awards 2010

2010-12-09T05:39:00.000-08:00

Most people enjoy taking the mick out of estate agents and they are often the butt of many jokes. It's a shame though, because if all those people who berate agents could have attended the Estate Agent Awards on Friday, 3rd December they would have seen how professional, forward looking and what an incredibly charitable industry estate agents are.

The awards were presented by James Cracknell, an amazing man who has won two Olympic Gold Medals, six World Champtionship Titles, rowed across the Atlantic and raced to the South Pole.

So who are the winning agents? READ ON to find out who the key winners are.

Estate Agent Awards 2010

Cap on Local Housing Allowance rates could cause problems if implemented

2010-12-06T03:53:00.000-08:00

The Coalition Government have started to realise that their cap on the Local Housing Allowance (LHA) could cause major problems within areas such as London if implemented.

Due to private landlords having potentially to turf out LHA tenants to make ends meet, the government have agreed to delay the implementation of the cap until January 2012 for people that are already claiming the benefit.

Caps for new housing benefit claimants will be brought forward though and all be introduced in April 2011 (instead of April 2011 and October 2011).

For more information and full details of the new caps - READ MORE.

What’s happening in the Construction Industry?

2010-11-29T07:55:00.000-08:00

According to the latest Royal Institute of Chartered Surveyors Market survey “The impact of government spending cuts and continued concerns over access to finance saw sentiment in the construction industry turn increasingly negative during the third quarter of 2010”.

Importantly for the residential market, one of the worst areas affected was public housing where the government announced a 50% cut in spending on affordable homes.

READ ON to find out more about what's hapening in the construction and property industry.

To Rent or Buy?

2010-11-25T00:56:00.000-08:00

To Rent or Buy?

With the cost of maintaining our ageing housing stock on the rise, is now a good time to buy – or should you stay renting?

According to Zoopla, 80% of British cities/towns are now cheaper to buy in than rent a two bedroom flat in 50 locations throughout the UK. In some locations – not necessarily the ones you would expect – renting is more costly than buying.

Read on to find out whether To Rent or Buy?

Lack of rental properties could drive up prices

2010-11-23T05:39:00.000-08:00

Housing Rental Market

Property rents continue to rise steadily across most of the UK and by Spring 2011 we are likely to see monthly rents reach their peak of April 2008.

Over the coming months, the housing rental market is likely to start highlighting the devastating lack of properties in the market. While people have 'stayed at home' for a few years following the recession, the next few years people will want to rent or buy. Due to a huge lack of funding for buyers and investors, there just won't be the stock available and inevitably this will drive up prices.

Lack of rental properties could drive up prices

Latest House and Local Property Prices

2010-11-16T04:23:00.000-08:00

Latest House Property Prices and Local House prices

The property market continues to be subdued in the lead up to Xmas and is likely to go very quiet over the Xmas period.

For 2011, there is a real danger that the lack of properties for sale and a low number of buyers will end up with the market remaining very sluggish. A lack of properties for sale won't help 'kick start' the housing market. If sellers can't see a choice of properties to buy and 'doom and gloom' is constantly reported by the media, their incentive to up and move sticks is very low.

For a detailed property market report - READ MORE

Property Buying Guide Myth No.3

2010-11-15T03:05:00.000-08:00

Estate Agents - You must talk to our Mortgage Broker or Advisor!

If you've looked for a property to buy, you'll no doubt recognise the phrase 'You must talk to our mortgage broker' which you may have heard when visiting the local estate agents. So, should you talk to an estate agent's mortgage broker or is this just another property buying myth?

Watch my latest property myth video here!

Property Buying Guide - Myth No.2

2010-11-11T07:41:00.000-08:00

All Estate Agents are the Same

How many times have you heard the phrase 'All Estate Agents are the same'? So, are they 'all the same' or is this just one of many property buying myths? And, if you happen to be a first time buyer, this may also help you find a good estate agent and ultimately, your dream first home.

Watch my VIDEO here!

Property Buying Guide - Myth No.1

2010-11-02T09:15:00.000-07:00

The perfect property IS out there!

For those of you who have already bought a property, you'll no doubt recognise the phrase 'The perfect property IS out there'. Well is it, or is this just one of many property buying myths? If you're a first time buyer, are you looking for that elusive 'perfect property'?

Watch my VIDEO here

Prices of Houses Sold - Media Reporting

2010-09-13T23:43:00.000-07:00

July and August data shows that trying to report on the property market purely covering property prices is pointless. As with any market analysis, it's often the volume figure that is far more interesting.

For example, property sales' volumes started to fall in September 2007, for the Land Registry property price falls weren't recorded until NINE MONTHS later, in June 2008. Over those nine months, the number of properties sold fell by 49%, from 100,000 properties per month to just over 50,000.

READ MORE for my latest summary on the property market. Want to know what's happening to LOCAL HOUSE PRICES in your area, ignore the headlines, let me help you work it out for yourself READ MORE.

Mortgage Best Buys

2010-09-06T04:15:00.000-07:00

If you're thinking of buying a property or remortgaging, to ensure you find the best mortgage for your circumstances, follow my Top Three Tips on how to choose a mortgage lender.

There are more mortgage products coming onto the market, and one company that has recently released some new mortgage rates is the Post Office. READ ON for some examples of their new lending rates.

Mortgage Best Buys

Is your house falling down?

2010-09-02T03:22:00.000-07:00

So you don’t want to end up on Sarah Beeny’s new show ‘Help! My House is Falling Down’? Then it’s time to make sure you have a property makeover. Not the usual buy a new kitchen kind or painting the walls magnolia, more the practical, essential kind: get the roof fixed or sorting out the drains!

I know it’s not sexy, I know it’s not exciting, I know you can’t say to your friends ‘come round and see my fab new roof’. You can however sleep at night knowing that all the hard work you are either about to carry out as a buyer or already have as a home owner has been done.

Follow my Structural Survey Tips for Property Homeowners here!

Sarah Beeny’s New Property Show: Help! My House is Falling Down

2010-08-31T02:33:00.000-07:00

For most property professionals, especially surveyors, Channel 4’s latest property show, Help! My House is Falling Down with the fab Sarah Beeny, is a god send. At last a TV programme which should ensure property buyers purchasing a home pay for an independent full structural survey from a local qualified surveyor!

Anyone that has watched the first couple of Sarah Beeny’s new programme now knows that mortgage companies are all too happy to lend money to unsuspecting buyers. You also find out canny ways vendors have of covering up property problems!

Find out more here!

Landlord Action Exposes Rogue Tenants on ITV's ‘Nightmare Tenants’

2010-08-26T07:56:00.000-07:00

Landlord Action’s founder, Paul Shamplina, will be heavily appearing on ITVs programme ‘Nightmare Tenants’ tonight. Paul will not only be commenting on a number of ongoing cases where landlords are owed thousands of pounds relating to unpaid rent but will also be trying to expose these ‘rogue’ tenants in front of the camera to the nation.

The programme is set to highlight some of the financial issues that landlords can experience when they rent their property out to a nightmare tenant, and will be mainly doing so by using three cases that Landlord Action are currently acting on, including their biggest rent arrears case to date.

READ HERE FOR MORE INFO

How to sell a property in a falling market

2010-08-19T03:19:00.000-07:00

Expert Top Tips to help you sell your Property in 2010

Selling your home in the current tough market conditions can be a difficult task, depending on how you approach it and how desperate you are to move. If you are trying to put your property on the market during the month of August 2010, then it's likely you'll have a tough time for the first few weeks unless your local market is unusually buoyant. To make sure your property sells during one of the worst property recessions we've ever seen, follow my top five tips!

Top Five Tips to Selling in a Tough Market

What to do if your home has been on the market for months or more

BBC Radio Nottingham - Property Market Update

2010-08-18T09:05:00.000-07:00

Appearing on BBC Radio Nottingham with Frances Finn with my regular update on the property market around Nottinghamshire, which includes special features on Beeston and Newark.

For more information on the Nottinghamshire market, areas and properties covered READ MORE.

Is the Housing Market really Slowing?

2010-08-10T06:34:00.000-07:00

Following June's data, the housing market definitely 'appears' to be slowing. However it is important to remember that much of this is due to a comparison of data this year versus last year, when the market starting showing signs of recovery rather than seeing a 'true' slowdown of the market.

Prices are still showing positive growth versus 2009, but that's against a poor performing year. Overall prices are still down on average by 10% from pre credit crunch levels. Meanwhile Hometrack data is reporting less buyers coming into the market, that it is taking slightly longer to sell a home and canny buyers are offering less for property against asking prices.

READ MORE for a complete analysis of the buying and selling market with up to date price statistics and regional performances.

Don’t rush into buying a property!

2010-08-02T07:22:00.000-07:00

Shocking new research from ING Direct suggests that on average, a homebuyer in the UK spends just 21 minutes viewing a property before deciding to buy it!

This isn’t new news, and in fact is slightly better than the 15 minutes they used to take some years ago. However, it continues to shock me at the lack of time, effort and checks, and particularly planning and research, that buyers take when considering a new home.

Calling all Buyers: Don’t rush into buying a property!

Property Advice for Buyers and Sellers for the rest of 2010!

2010-07-29T02:30:00.000-07:00

After a year of relatively “good news” for the property market, properties are now taking longer to sell while choice for buyers is starting to increase as more properties come onto the market for sale, the result being, recent property price movements suggests property prices are likely to slip in the second half of 2010.

What to do if you are a Seller

What to do if you are a Buyer

House Property Prices - June's Analysis

2010-07-22T00:45:00.000-07:00

June's property market data shows a definite stalling of buying and selling a home. On average, the number of buyers looking to purchase is at best staying the same but in many areas demand is falling. Meanwhile the number of properties for sale is on the rise.

Sales volumes are up by over 50% versus last year - but still not as high as 2006 levels. Prices are 'in theory' up by 5-8% year on year, but most of this growth seems to be due to price rises in London and the increase in more expensive properties above £1 million.

For an indepth and full analysis of what's happening in the property market READ MORE.

Confessions of a Slum Landlord

2010-07-19T04:16:00.000-07:00

We've all probably been wondering what the impact of the reduction in LHA is likely to do and this is a great article from Claer Barrett, which succinctly explains the ups and downs of LHA - Confessions of a Slum Landlord.

Why renting without using experts can leave you penniless and homeless!

2010-07-15T04:28:00.000-07:00

Renting Property Guide - Why renting without using experts can leave you penniless and homeless!

With the enormous growth in the number of people renting a property rather than buying, there is a increasing problem with many tenants not asking key questions of landlords and/or letting agents prior to handing over any money.

Sadly, despite the previous government introducing some excellent legislation to protect tenants, many of them either have no idea about the rules and regulations that have been introduced or worse still, few bother to carry out any checks on their landlord or letting agent.

READ ON for key questions to ask a landlord/letting agent.

Prices of New Homes in UK remain steady

2010-07-08T06:57:00.000-07:00

May's prices suggest a small rise year on year which Smart New Homes is getting quite excited about, however it's clear that prices are better than last year, but they aren't really moving forward at a pace.

To find out all the up to date new build analysis, headline statistics and regional performances, READ ON.

Summarised Lettings Market Trends at Lettings Live Awards

2010-07-01T04:21:00.000-07:00

Presented some startling facts, figures and trends on the UK lettings market, highlighting key trends that letting agents (landlords and tenants) could look forward to and ones they needed to be wary of.

In summary, the key strengths for the lettings market was the fact that there had been a positive cultural shift in young people’s attitude to renting, such that according to research from Keynote, 19/20 16-19 year olds expected to rent in the private sector in the future. In fact, nearly one in two people under the age of 24 already do!

To find out the trends of the UK lettings market READ ON.

House Property Prices - Is the media causing optimistic asking prices?

2010-06-24T08:24:00.000-07:00

May's property market looks like we are heading into a more stabilised market for the rest of 2010, so sellers need to sell this summer, or are likely to have to drop prices by September if not sold. Sellers are either pricing their properties fairly from the start and selling within eight weeks, or they are over pricing them and then sitting on the market for weeks on end.

Currently, there is a real danger that media 'stories' suggesting property prices are on the up (which are just verbatum reports from press releases from the likes of Nationwide, Halifax etc) are causing optimistic asking prices by sellers. BE WARNED, sellers that over price will sit on the market for months. In this market, opt for the auction model - price low, get buyers to compete for your property to get the highest price!

READ ON for my latest property market update and analysis.

Property Price News - Are we heading for the dreaded 'double dip'?

2010-06-15T02:53:00.000-07:00

April's figures back up our forecast that the second half of 2010 will show house price growth curbed. To date, property price news reports have been comparing 2010 versus a poor performance in 2009, from April 2009, the property market showed signs of recovery. As a result, it's much tougher for the figures to show a growth versus last year as sales, prices and the number of buyers has clearly slowed down.

Does this mean we are heading for the dreaded 'double dip'? READ MORE to find out!

Mortgage Repossessions Remain Lower than Expected

2010-05-25T03:26:00.000-07:00

Latest figures from the Council of Mortgage Lenders shows the number of mortgages in arrears and the number of repossessions both fell in the first quarter of 2010. The number of repossessions was 9,800, down from 10,600 in the previous quarter and 13,200 in the first quarter of 2009, while loans in arrears fell from 206,800 at the end of the first quarter of 2009 and 196,400 at the end of last year to 186,300 at the end of the first quarter of this year.

However, we all know the major reason for the lack of repossessions during this recession is due to artificially low interest rates and mortgage support from the government.

Read on to find out more about the property market and mortgage repossessions for 2010.

Mortgage Deposit for a House Purchase

2010-05-20T05:43:00.000-07:00

Saving for a mortgage deposit for a house purchase might seem like too much hard work, or indeed an impossible task. But you may well be able to do it, depending on how much you earn, how much you spend and how much you can save if you really put your mind to it.

Doing a budget is a pretty easy task. You’ll need your bank statements, your credit card statements and little book that you can write down everything you spend your money on.

Here are my top five tips on saving money for a house deposit ....

How useful is a Sold Property Price?

2010-05-17T05:52:00.000-07:00

Did you know that you can now find out what price a property has sold for in the street you are buying or selling in? There are lots of websites that will let you have access to sold property price information absolutely free of charge!

Read on to find out if sold property prices can help if you are selling or buying?

How to Sell a Property in a Slow Market

2010-05-13T03:31:00.000-07:00

Selling a property isn’t an easy task at any time, whether a good or bad market. It is a lot of work for you to prepare the property, keep it tidy for potential visitors and then there is all the nervous energy of waiting for the agent to call, and then the waiting to see if buyers will view again or make an offer.

Read more to find out the best way to sell your home in a slow market.

First Time Buyers Advice in the UK

2010-05-11T03:58:00.000-07:00

Many first time buyers don’t know what advice is available to them in the UK, nor do they know what advice to trust from which property companies! That’s why Kate Faulkner, Managing Director of Designs on Property Ltd launched www.designsonproperty.co.uk to help first time buyers find out what advice you need and more importantly what questions you need to ask, who to trust and where to get help and advice on anything from who to talk to about mortgages to where to look for properties, and how and when to make an offer and what to do if things start to go pear shaped.

Follow Kate’s mini UK first time buyers advice to help you on your first steps to securing your new home!

Is the Post Office going to offer one of the Best First Time Buyers' Mortgages?

2010-05-10T01:08:00.000-07:00

Could the Post Office be about to offer one of the best first time buyer mortgages on the market?

Business Secretary Lord Mandelson announced in March following the Labour budget a major expansion of the financial services offered by the Post Office, which considering over 99 per cent of the UK population lives within three miles of a Post Office branch could mean access to 90% loan-to-value ratio aimed at first-time buyers. The Post Office will also increase its lending substantially, aiming to double the value of its mortgage book in the financial year 2010/11.

For more details on the proposals, read on ......

Kate Faulkner featured on BBC Radio Nottingham with Frances Finn

2010-05-04T08:37:00.000-07:00

Kate Faulkner feaatured on BBC Radio Nottingham with Frances Finn. Latest property market update for Nottingham by property expert Kate Faulkner revealed property prices and sales volumes not really improving versus 2009.

The figures show that the East Midlands and Nottinghamshire are behind the national trends, but mainly due to the great performance of London as opposed to the region not performing.

Find out what's happening the Nottingham property market.

URGENT: Planning permission required for renting property with three or more sharers!

2010-04-27T04:10:00.000-07:00

Latest news from the government is a ridiculous, classic ‘ivory tower’ legislation that is going to cause chaos for local authorities, landlords and tenants.

The new rules are that from 6th April 2010, any property rented to three or more unrelated sharers, forming two or more households, may well require planning permission which can take up to eight weeks to secure!

Read on to find out my views on this latest regulation.

Housing market predictions and property sold prices - should we be getting excited?

2010-04-22T07:29:00.000-07:00

It's not a time to get too excited over property sold prices as the market doesn't appear to be 'doing much' this year at all - apart from London which does appear to be doing well versus 2009 and may even catch up this year to 2007 levels.

For buyers, there may be a bit more choice as the number of properties for sale has increased. Hometrack have reported that "over the last six months of 2009 the supply of homes for sale grew by 1% while sales volumes grew by 20%". However, for sellers excited to see 'house price growth' in the headlines, be realistic, prices aren't going up everywhere, in fact any increases are very regional and prices are still over 10% less, on average than 2007 levels READ MORE.

For the full property market analysis and to find out what's happening locally READ MORE.

10 Ways to Exploit a Buyer's Market

2010-04-20T05:44:00.000-07:00

A buyer’s market sounds ideal - lots of properties for sale to choose from and being in a position to make offers below the asking price – so you’ll really get the feeling that you can bag a bargain. But just how do you make the most of it?

10 Ways to Exploit a Buyer's Market

I Can't Pay my Mortgage!

2010-04-19T02:58:00.000-07:00

For those who are still fighting to keep your home, it’s important to make sure you aren’t fleeced by some dodgy dealer trying to ‘secure your property for cash’ at a rock bottom price. The idea of getting the lender and the courts off your back might seem great at the time, but you may not need to sell at all as there is a lot of help to try and keep you and your family in your current home. This would give you the chance of holding on for a while. Being able to hold onto your home now may mean if you do eventually need to sell you can do so without owing lots of money and at a time more to suit you than the banks and building societies!

Struggling to pay your mortgage -read on!

Is this one of the best times to buy a new home?

2010-04-15T04:29:00.000-07:00

If you have the money - and can get a mortgage for a new property - then the coming months is possibly one of the best times to buy a new home.

Unlike second hand home owners, who don't have to sell their property, developers do and are therefore offering some cracking deals to buyers!

But don't forget that it's not just good deals they offer, they are also typically 'A' rated homes on Energy Performance Certificates, which mean they are extremely energy efficient and should therefore have lower utility bills than an equivalent second hand home, which could save you a fortune at the moment! Deals Developers are Offering.

Property Investment is NOT a Passive Pastime!

2010-04-13T04:33:00.000-07:00

I'm not usually downbeat about property investment, but I am concerned at the number and way in which some property investment companies are selling to novice investors.

Having spent over 10 years watching the property investment industry 'flourish' then 'collapse' and 'rise again' I'm sick and tired of the following property investment company claims and marketing spin!

Property Investment is NOT a Passive Pastime!

New Smart Deposit Solution for landlords and agents

2010-04-06T03:05:00.000-07:00

New Smart Deposit Solution offers landlords and agents an alternative to Tenancy Deposit Protection Schemes.

FCC Paragon, part of the Paragon Advance group of companies, has launched a system called 'Smart Deposit Solution' which is a warranty product developed in recognition of the growing legislation which landlords have to adhere to and the increasing cost of living which may mean tenants can’t afford the upfront cost of a deposit. It is also very timely with the Tenants Deposit Protection Scheme having put their prices up by up to 1000%, increasing some agents and landlords costs from a few hundred pounds to £5-6k irrespective of how many disputes they have had.

Read on to find out more about the new Smart Deposit Solution.

National Landlords Association calls for TLC For Landlords

2010-04-01T01:35:00.000-07:00

It was disappointing that there was nothing to encourage further investment in private residential accommodation in last week's budget. On top of no real incentives for Private Sector Landlords, we're having to deal with the over legislative threats currently hanging over landlords from Labour.

Find out what the NLA recommends for the future and my views .....

Labour? Lib Dems? Conservatives? Whose property and housing policies should you vote for?

2010-03-30T03:11:00.000-07:00

With the election a matter of weeks away, it is amazing that so little information about housing policies and plans has been given by each of the parties.

Below are the key housing policies that the political parties are looking to follow post the election. However, be warned, there is nothing particularly exciting about the ideas and in fact I’m not impressed with the lack of detail and policies that each of the parties have put forward.

Hopefully as the election looms closer each party will offer more details about their policies and we’ll be able to analyse who has the best policies for you, whether you are a first time buyer, trading up or down, or looking to rent long term.

Key housing policies the political parties are looking to follow post the election.

New Consumer Code to Protect New Build Buyers

2010-03-25T03:44:00.000-07:00

For all home buyers of new build properties on and after the 1st April 2010 (including reserving a plot and newly converted properties) a new Consumer Code will help ensure if there are any difficulties or disputes, buyers will have access to third party help.

The new Consumer Code was formed by an agreement between NHBC and MD Insurance Services Ltd (trading as Premier Guarantee and LABC New Home Warranty). However, builders and developers need to be registered with them for the Consumer Code to be adopted.

Read on to find out what the code does not cover .....

What's happening in the rental market?

2010-03-23T10:27:00.000-07:00

Investigating what is happening seem to show that some areas and property types - as with property prices - are 'recovering' to a point where supply is just under demand, nudging prices up. As the figures reflect 'average' activity, sometimes poor performing areas dominate, so rents go down and at other times good areas perform, pushing prices upwards.

Buy to let borrowing is also improving, but tenants are still defaulting on landlords. New legislation coming in this year will add more costs to a buy to let business and legislation is almost at a level that will 'strangle' the industry and effectively cause those struggling to make BTL returns to leave the market altogether. READ MORE for the headline rental statistics.

Property investment clubs return with new sales pitch

2010-03-22T09:14:00.000-07:00

Become a property millionaire!” screamed the advertisements, inviting investors to seminars to “find out how you too can retire early”. Fast-forward two years and those ads have disappeared, vanishing as house prices fell.

The property investment clubs and their founders have kept a low profile since then, but renewed confidence in the housing market and the prospect of future returns has brought some out of the woodwork.

Read on to find out more about protecting your money and investments.

House Price Market Update for February 2010

2010-03-18T09:58:00.000-07:00

Well the doom mungerers are out in force this month! January's data suggested the market was 'wobbling' while February data suggests it's on the slide. The double dip everyone is questioning certainly looks that bit more likely - but that's only if you take the property price reports as a measure of what's happening in the market.

The truth is that the market reports are all basing their figures versus Feb 2009 which was when we had a real uplift in the market for the first time since 2007. So effectively we are comparing an 'average' month for Feb 2010 versus an above month of activity in Feb 2009, so of course it suggests that things are moving 'downward' when in fact it's just a comparison of a good month versus a 'not so good month'. READ MORE for all the latest BUYING AND SELLING STATISTICS.

What are the issues that we need to address if Buy to Let Mortgages are Regulated?

2010-03-16T07:49:00.000-07:00

Regulating buy to let mortgages however, isn’t going to be straightforward and of course will incur costs, which for a lending business that is already suffering and only just getting back on its feet, needs to be thought through.

We’ve already seen tenancy deposit schemes coming into play which has cost the industry millions, hasn’t hurt or exposed any rogue landlords, penalises rather than rewards good landlords and letting agents and one of the companies has just put out invoices increasing costs by 1200%! Basically all of these extra costs will also just end up being passed onto higher rents for tenants. So, despite the costs of regulation, in this case it’s highly questionable as to whether anyone has benefited at all.

Read on to find out what issues need to be addressed ....

Why Should Buy to Let Mortgages be Regulated?

2010-03-15T09:36:00.000-07:00

If buy to let mortgages are to be regulated, it would impact on lenders, mortgage intermediaries, the legal profession, those advising on personal wealth management and of course letting agents.

So I’ve consulted some of the people in the industry to find out what they think about regulation and in particular, whether they think it should or shouldn’t be regulated.

What Mortgage Regulation currently exists and how does it protect borrowers?

2010-03-11T01:14:00.000-08:00

Currently mortgages are regulated in a number of ways for residential but the regulations do not cover BTL mortgages.

Find out what regulation is in place for residential borrowers and not BTL borrowers!

Should Buy to Let Mortgages be regulated?

2010-03-09T04:30:00.000-08:00

When I was first asked this question, my initial response was ‘of course they should be regulated’. This was partly driven by the fact that I find far too many people investing in buy to let property without doing the level of due diligence on a property that they would if they were buying a home.

I also think that people often believe property is more likely to deliver an investment return than a pension or other financial investment. Personally, I love property and feel very comfortable in being sure it will give me a return, but I also take advantage of financial investment products, specifically investing in a pension due to the tax breaks I receive.

Read on to find out what I think about the regulation of BTL mortgages.

What you need to know about Buying and Living Abroad

2010-03-08T05:44:00.000-08:00

Are you thinking of selling up buying and living abroad?

There are lots of legal differences that you need to consider when buying (and selling) a home abroad, not to mention the financial implications of buying and living in a different country and there are five main things you need consider with regards to financing a purchase or move abroad.

First Time Buyers Desperately Need Independent Advice!

2010-02-25T00:51:00.000-08:00

So it’s not just Designs on Property that has received lots of requests for help and advice from first time buyers, now Unbiased has revealed that they too have been inundated with guidance requests about the complex task of getting a mortgage.

During the credit crunch, apparently over 40% of enquiries for Unbiased have been from First Time Buyers. For Designs on Property this figure is around 30%, with other people questioning whether it was worth trading up or not; how to find a property ‘below market value’ for investment purposes and whether it was worth selling up for a while and renting in the hope or expectation that prices go down further were other popular questions.

Read on to find out more about independent advice for First Time Buyers.

Kate Faulkner comments on the OFT Report on Home Buying and Selling

2010-02-23T03:37:00.000-08:00

BUT ARE THEY RIGHT? According to the latest review on housing (one of many!) the OFT claim “A shake-up in how homes are sold, including updating legislation to allow new entrants into the market, could lead to a better deal for house buyers and sellers”.

Their main reason for this thought appears to be because the “housing market remains dominated by traditional estate agents with weak competition between them on price. As property prices rise during housing booms, so too do estate agents' fees”.

It’s an interesting conclusion and having worked in this market for over 20 years, my experience of estate agent competition is that it’s quite intense. So how exactly is the OFT claiming ‘weak competition’ on price and backing up the suggestion that selling through an agent is an ‘expensive’ process? Read on to find out!