Thursday 15 December 2011

PERIOD COTTAGE HAS A LOT TO OFFER




This two-bedroom stone-fronted period cottage, 17 Lewington Road, Fishponds, is to be sold by auction by Besley Hill on 8 February with a guide price of £80,000 to £110,000.
Situated in a popular location just off Staplehill Road, the property retains original character but requires general refurbishment and modernisation.
“This home is an ideal choice for DIY enthusiasts, speculators, buy-to-let investors and professionals,” said Mark Symonds, senior branch manager of Besley Hill Estate Agents’ Fishponds office.
Comprising dining room, living room, kitchen, two bedrooms and bathroom, the house has the benefit of a Valiant combination gas-fired boiler and some Upvc double-glazed windows.
There is also a 25ft enclosed rear garden with wide beds with established shrubs and plants and cobblestone pathway.
The property is one of the lots on offer at Besley Hill’s auction sale on 8 February at The Pavilion Lounge of BAWA, 589 Southmead Road, Filton, Bristol, BS34 7RG, starting at 7.00pm.
For further details of 17 Lewington Road, including an open house viewing from 10.00am to 11.00am on Saturday, 7 January, contact Mark Symonds, Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol, BS16 3UA, tel 0117 9653162, email fishponds@besleyhill.co.uk, or the auctioneer’s office, tel 0117 9701551, website www.besleyhillsurveyit.co.uk

Tuesday 13 December 2011

AMY'S WINNING DRAWING IS ON ESTATE AGENTS' CHRISTMAS CARD



A festive drawing by a pupil at St Mary's CofE Primary School, Thornbury, has been chosen to appear on a local estate agents' office Christmas card.
Seven-year-old Amy Lyons was the overall winner of a children's Christmas art competition organised by Besley Hill Town & Country Homes, of High Street, Thornbury.
There were three age categories - four to eight, nine to thirteen and fourteen to seventeen - with the winner of each category winning an Amazon kindle.
Entrants were required to submit one picture or painting with a festive theme, the only stipulation being that it had a house or property in it.
"Ultimately, we were looking for a design that could be used on our office Christmas card with the best entries being displayed in our window in the run-up to Christmas," said branch manager Andrew How.
"Amy's drawing was chosen from dozens of entries and made into our Christmas card for 2011. The cards were produced in double quick time by our printer, Horders, and sent out to all our customers and friends."
Photo shows Andrew How with Amy holding her winning drawing and the Besley Hill Christmas card.

Wednesday 7 December 2011

LIFELINE FOR FIRST-TIME BUYERS



The Chancellor, George Osborne, announced in his autumn statement that the government plans to install a new system to provide funding which will help first-time buyers of new-build homes get onto the property ladder.

Under the mortgage indemnity scheme, the government said that it can use the low interest rates it had secured in order to help young families who wanted to buy, but were far from being able to afford the high level of deposit that banks require. It said that young couples will be able to secure a mortgage worth 95 per cent of the value of their homes.

The scheme will be run specifically for first-time buyers on new-build homes, with the government estimating that it will be able to work with those looking to make their first step onto the property ladder in order to provide 100,000 new homes across the UK, making a dent in the shortage of homes available.

While disappointed that the scheme, which comes into effect in the spring, will only apply to new-build homes, Adam Offer, managing director of leading West estate agents, Besley Hill, said the initiative was good news to those seeking to secure a deposit for their first mortgage for this type of property.

“It is essential that more first-time buyers are able get on the property ladder in order to stimulate the housing market and anything that improves the prospects for this sector of the market has to be welcomed,” said Mr Offer.

Tuesday 15 November 2011

IS THIS THE LOWEST PRICED HOUSE IN BRISTOL?




Is there a house on the market in Bristol at a lower price than 21 Sylvan Way at Sea Mills?
If so, Mark Symonds, senior branch manager at Besley Hill Estate Agents’ Fishponds office, would like to know about it.
For this three-bedroom semi-detached local authority house is to be offered at Besley Hill’s auction sale on Thursday 1 December with a guide price of only £70,000-£90,000.
“I would be surprised if there is a house on the market in the city for less than this,” said Mark. “It is only being auctioned with such a low guide price because the vendor wants a quick sale for family reasons.”
Built to a Dorlonco steel frame non-traditional design, this home has been improved by the present owner and requires a further programme of modernisation and improvement.
“The property will appeal particularly to cash buyer builders, speculators and specialist contractors,” said Mark Symonds.
Situated close to The Portway, 21 Sylvan Way offers easy access to the city centre and the motorway network, with local shops and services available locally in Shirehampton.
Besley Hill auctioneer Nigel Freston said: "21 Sylvan Way forms part of the southernmost section of the original Garden Suburb within a designated Conservation Area. It was one of the first phase of Dorlonco houses built between 1920 and 1922. Number 21 was first occupied on the 9 August 1920. The Community Forest Path, a 46-mile recreational route around Bristol, passes along the north east side of Three Acre Covert before crossing Sylvan Way."
The spacious, well-proportioned accommodation of the house comprises a hall, lounge, dining room, kitchen/breakfast room, rear lean to/conservatory, three bedrooms and a shower room (former bathroom).
The shower room incorporates a luxury suite of white shower enclosure with a built-in Dolphin shower unit above, low-level W.C. and pedestal wash basin.
The kitchen/breakfast room is fitted with a range of wall and floor storage cupboards and has a single drainer stainless steel sink unit and vinyl floor covering.
A further benefit is a generous rear garden with numerous paved patio surfaces, an ornamental pond, two greenhouses and two timber sheds/outbuildings.
The house is one of ten lots included in Besley Hill's 1 December auction sale, which is to be held at The Pavilion Lounge of BAWA, 589 Southmead Road, Filton, Bristol, BS34 7RG.
For further details of 21 Sylvan Way, contact Mark Symonds, Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol, BS16 3UA, tel 0117 9653162, email fishponds@besleyhill.co.uk, or the auctioneer’s office, tel 0117 9701551, website www.besleyhillsurveyit.co.uk

BUY-TO-LET MORTGAGES BOOMING


Buy-to-let mortgages are shooting up with the number of new loans increasing by 16% in the third quarter of 2011, official figures from the Council of Mortgage Lenders (CML) show.
The data also reveals that the value of mortgages in this sector went up by 19%.
“We have access to the whole buy-to-let market for mortgages and this trend is in line with the deals negotiated for investors by the Mortgage Advice Bureau (MAB) representatives at our 15 offices throughout Bristol and Gloucestershire,” said Adam Offer, managing director of Besley Hill Estate Agents.
“We can confirm that landlords are reacting to high levels of tenant demand by using their own cash and short-term borrowing to purchase and renovate property, and then remortgaging using buy-to-let finance.”
In the three months to September, a total of 34,500 buy-to-let loans were advanced, up from 29,700 in the preceding quarter. The value of lending totalled £3.8bn, up from £3.2bn.
On both measures, buy-to-let lending was at its highest level since the final quarter of 2008.
Of the buy-to-let loans, 18,580 were for buy-to-let purchases – accounting for almost 12% of all house purchase loans.
As at the end of September, there were 1,378,700 buy-to-let loans outstanding, worth £157bn, up from 1,296,700 loans worth £150bn 12 months earlier.

Tuesday 8 November 2011

UK HOUSE PRICES UP 1.2%


House prices in the UK increased by 1.2% in October compared with the previous month, reports the Halifax, part of the Lloyds Banking Group.
The lender said that the housing market had remained “highly resilient” despite weakness and a deteriorating outlook for the UK economy.
Martin Ellis, Halifax’s housing economist, said: “The housing market has proved highly resilient in recent months, despite the weak economic recovery and the deterioration in the outlook for both the UK and global economies.
“The prospect of exceptionally low official interest rates over the foreseeable future is likely to continue to support the market in the face of a very difficult economic climate.
“Both prices and activity levels are expected to remain close the current levels over the coming few months.”
The housing market also saw an increase in activity last month as more surveyors reported that newly agreed sales were on the rise, according to the Royal Institution of Chartered Surveyors.
Completed sales rose to an average of 15 at each branch of surveyors over the past three months - the strongest level since April. New buyer enquiries - a good indicator of demand - edged up as well.
At the same time, the Countrywide group’s quarterly research into the private rental sector shows that tenant demand shot up by 10.8% in the third quarter of this year, compared with the same period last year, and by 11.9% from the second quarter of this year.
“More people are entering the buy-to-let market as a result of this increased tenant demand and the comparably high rate of return from this kind of investment,” said Adam Offer, managing director of leading west estate agents, Besley Hill.
“Prices here have stabilised due to lack of supply and increased demand from buyers.”

Monday 31 October 2011

WEST HOUSING MARKET IS PICKING UP


The housing market in the west of England is showing signs of a revival, according to one of the region’s leading estate agents.
Figures announced by Besley Hill reveal that sales at their 15 offices throughout Bristol and Gloucestershire are up by 20% compared with a year ago.
New buyer registrations have increased by 16% during the same period, with viewings rising by 12% and contract exchanges by 20%. The firm’s “pipeline” is 23% higher than a year ago.
“Our year-on-year performance points to a definite revival in the housing market in the west of England,” said Besley Hill managing director Adam Offer.
“The feedback from the branches is that the market is picking up and all indications are that we can look forward to a better year ahead.”
Mr Offer said that instructions at Besley Hill’s branches were down “just 5%” and viewings up 12%, reflecting the fact that “we need more homes to sell to waiting buyers”.
Other statistics include 20% more legal services referrals than 12 months ago due to clients taking advantage of benefits resulting from the group’s “buying power”.
Besley Hill’s offices are situated at Bedminster, Bishopston, Bishopsworth, Downend, Dursley, Easton, Fishponds, Kingswood, Knowle, Longwell Green, Stroud, Thornbury, Whitchurch Village and Wotton-under-Edge.

Thursday 27 October 2011

ESTATE AGENT HOLDS CHILDREN'S CHRISTMAS ART COMPETITION




Thornbury estate agents Besley Hill Town & Country Homes are holding a Christmas art competition for local schoolchildren.

There are three age categories - four to eight, nine to thirteen and fourteen to seventeen – with the winner of each category winning an Amazon kindle.

Entrants are required to submit one picture or painting with a festive theme, the only stipulation being that it has a house or property in it.

The competition closes on Saturday 3 December and the winners will be announced the following week.

“Ultimately we are looking for a design that can be used on our office Christmas card with the best entrants being displayed in the branch window in the run up to Christmas,” said Andrew How, manager of Besley Hill’s Thornbury office.

For further details, contact Mr How at Besley Hill Town & Country Homes, 57 High Street, Thornbury BS35 2AP, tel 01454 411522, email thornbury@besleyhill.co.uk

Tuesday 25 October 2011

BESLEY HILL APPOINT NEW BRANCH MANAGER




Rob Chapman, who has worked in the South Gloucestershire property market for 26 years, has been appointed manager of Besley Hill Town & Country Homes at Chipping Sodbury.
Besley Hill managing director Adam Offer said: “We are thrilled that Rob has joined us. It is quite a coup because he has such a wealth of experience in the local housing market.”
Rob Chapman has spent all his career based at the same office in Station Road, Yate, initially for 11 years with Sandoe Luce Paynes, then Nationwide, and latterly with R A Bennett & Partners.
He said: “During this time I have experienced a number of different housing markets, enabling me to gain an insight of how best to work in a particular situation to achieve the best results for my clients.
“I have had the pleasure of representing a number of clients more than once and this is something I hope to continue through providing customer service that meets people’s needs.”
At Chipping Sodbury, Rob will manage a team supplying a full range of property services, including house sales, lettings, mortgages, financial services, auction, survey and conveyancing.
In addition to giving free market appraisals, he will be launching a new initiative, a professional property stylist service run by Alison Armitage, which is designed to maximise a home’s sales potential.
For further details, contact Rob Chapman at Besley Hill Town & Country Homes, 14 High Street, Chipping Sodbury, BS37 6AH, tel 01454 313575, email sodbury@besleyhill.co.uk
Besley Hill, the West’s largest independent estate agency group, has other offices throughout Bristol and Gloucestershire at Bedminster, Bishopston, Bishopsworth, Downend, Dursley, Easton, Fishponds, Kingswood, Knowle, Longwell Green, Stroud, Thornbury, Whitchurch Village and Wotton-under-Edge.

Wednesday 12 October 2011

HOUSING MARKET IS MAKING A REVIVAL


New figures just announced indicate that there are positive signs of a recovery in the housing market.
The number of mortgages lent for house purchase rose 7% in August from the month before, to reach 52,000, up 2% on August the year before, according to the Council of Mortgage Lenders (CML).
At the same time, figures from the National Association of Estate Agents (NAEA) show an increase in house-hunters registered per branch from 299 in July to 304 in August, the highest since September 2007, with sales up from an average of seven to eight.
These trends are confirmed by leading South West estate agents Besley Hill, who report a similar upturn at their network of offices throughout Bristol and Gloucestershire.
The CML data reveals that the number of loans to first-time buyers rose 5% both from July and August last year, with 19,000 loans taken out by first-time buyers. Home movers took out 33,000 loans in August. Lending to both first-time buyers and home movers was at its highest for over a year while remortgaging activity rose sharply by 9%, with 34,100 remortgage loans advanced.
“These statistics and the NAEA figures showing the highest number of house hunters for four years and rising sales in the traditionally slow month of August are evidence of a revival,” said Besley Hill managing director Adam Offer.
“This improvement is also borne out by reports that the market is beginning to move again from the directors and Mortgage Advice Bureau (MAB) representatives at all our offices.”

Tuesday 27 September 2011

WATERFRONT HOME WITH VALLEY WALKS



Brier Wood on School Lane, off Blackberry Hill, Stapleton, is a superior and highly rewarding detached waterfront home within a desirable setting close to the River Frome and lovely valley walks.
This stylish and unique 1960s architect-designed and built home, which is on the market with Besley Hill Estate Agents at Fishponds for £350,000, offers dramatic, contemporary accommodation with a high quality finish.
Many rooms have an elevated outlook over the River Frome with views along the valley and immediate surroundings in an area with great local history and forming part of a conservation area known for its outstanding natural beauty.
Situated in an exclusive position reached via a no through road, this impressive home enjoys a host of special features such as a galleried landing, stable doors and extensive gardens.
The accommodation includes a spacious hall, stunning kitchen/breakfast room, conservatory, three bedrooms and a bathroom at hall floor level while on the top floor there is an open landing, formal dining room and large living room with direct access onto a private balcony.
The beautifully presented kitchen/breakfast room has an island Schuller kitchen breakfast bar with a glass top surface and a stylish range of timber grain-effect wall and floor storage cabinets with a built-in Technic brushed steel-effect range cooker with matching splashback and canopy above.
The bathroom includes a white suite of panelled bath, low level w.c. and free standing glass bowl sink with mixer taps over, exclusive Lena steam/shower cabin, black marble effect flooring, concealed ceiling spot lighting, radiator and heated towel rail.
Alongside the pedestrian access to the property is a garage built beneath the foundations together with an internal adjoining workshop storage space and electrically and remotely operated up and over door.
For further details of Brier Wood and an appointment to view, contact Besley Hill Estate Agents at 764/766 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk

Tuesday 6 September 2011

OPEN HOUSE VIEWING AT FOXGLOVES COTTAGE

An open house viewing of Foxgloves Cottage, 118 Downend Road, Fishponds, a two-bed semi-detached natural stone period cottage with a long landscaped rear garden, is to be held on Saturday, September 10.
On the market for £205,000, this distinctive home offers ample accommodation including a stylish kitchen, luxury shower room, three reception rooms and two good-size bedrooms, in addition to the outstanding garden.
Exposed timber ceilings and panelled internal doors with brass/china-effect handles blend tastefully with more modern features like uPVC double-glazed and leaded windows, and laminate wood grain-effect floors.
Of particular interest to gardening enthusiasts will be the impressive 170ft long rear garden which has been beautifully landscaped by the current owners.
The 16ft 3ins x 11ft 4ins (4.95m x 3.45m) lounge looks out on to this garden and has an exposed timber ceiling and stone fireplace with a cast iron multi-fuel stove upon a slate-effect tiled hearth while the dining room/occasional bedroom 3, which also allows direct access on to the rear garden, has laminate wood grain-effect floor and twin double glazed French doors.
The second sitting room/study also has an exposed timber ceiling together with natural stone fireplace opening with stone tiled hearth, built-in double floor cupboard, natural timber window sill/display shelf and built-in display/bookshelves.
The kitchen, measuring 13ft x 7ft 8ins (3.96m x 2.34m), comes with a range of Shaker cream-effect wall, floor and drawer cabinets with brushed steel-effect handles, inset enamel sink with a Victorian-effect mixer tap over within natural wood block working surfaces, and Potterton gas-fired boiler for domestic hot water and central heating.
The shower room has a corner enclosure with an Essentials shower unit, low level W.C. and vanity wash basin with double cupboard beneath, slate-effect tiled floor, splashback tiling, heated towel rail and extractor.
The rear garden has an initial decorative gravelled surface and a concrete laid path with a natural stone border to one side with lovely flowering shrubs, roses and climbers. The pathway leads to a timber laid decking surface/patio with inset floodlights with a further stone raised border to one side and three steps to a higher section of extensive and level lawn.
On both sides of the lawn there are well-established and interesting borders with specimen shrubs and carefully selected plants. Midway through the garden there is a decorative slate laid surface within timber edging suitable as a seating area with a decorative timber archway and trellis alongside with flowering climbers.
Beyond the arch there are further lawned areas with additional well-stocked borders, a flagstone-effect laid patio/seating area, two timber sheds, a timber log store, a decorative gravelled storage hardstanding and a section of timber barked surface with mature flowering cherry and evergreen.
Mark Symonds, senior branch manager of Besley Hill Estate Agents at Fishponds, said: “This beautiful cottage is a gardener’s paradise but will suit professionals and those seeking a high quality home with considerable comfort and style.”
To attend the open house viewing, which is by appointment between 10.00am and 11.00am, contact Mark on tel 0117 965 3162, or email fishponds@besleyhill.co.uk

Tuesday 30 August 2011

BUYING IS CHEAPER THAN RENTING, SAYS HALIFAX


The latest Halifax Buying vs. Renting Review, which tracks changes in the cost of buying and renting a typical two bedroom flat for a first-time buyer across the UK over the last three years, shows that the cost of buying a home for first-time buyers is more than £100 a month lower than renting.
The cost of buying for a first-time buyer has fallen by 2% over the past year and average rental costs have risen by 6%.
In 2008, the average cost of buying was £212 more than the average rent paid. But there has subsequently been a decline in buying costs for a first-time-buyer due partly to the fall in mortgage rates and house prices.
The average mortgage rate for a new borrower is now 3.84%, a fall of 207 points from an average of 5.91% in mid 2008, while the average first-time house price has also fallen by 14% to £124,378 over the same period.
The average monthly costs of buying a two bedroom flat in the UK for a first-time buyer totalled £567 in July 2011, 16% lower than the £677 a month typical rent paid on the same type of property.
Average buying costs include mortgage payments, income lost by funding a deposit rather than saving and spending on household maintenance and repair and insurance costs.
“The recent decline in the cost of buying a property for first-time buyers compared to renting has been substantial and reflects the drop in both mortgage rates and house prices since 2008 as well as a marked increase in the average rent paid over the past year,” said Halifax housing economist Suren Thiru.

Tuesday 23 August 2011

SPACIOUS EXTENDED HOME IN SOUGHT-AFTER LOCATION




A deceptively spacious home on Forest Road, Fishponds, has come on to the market with the local office of Besley Hill Estate Agents.
“There is always a demand for properties in this location because they are close to all the shops and other amenities Fishponds has to offer,” says senior branch manager Mark Symonds.
Number 194 Forest Road, a deceptively spacious four-bedroom three-storey mid-terraced family home, has been developed and extended by the current owners to a high standard of specification.
A particular feature is the roof conversion to form a master bedroom with en-suite shower room. There are three further bedrooms at first-floor level together with a large bathroom with independent shower and feature claw-leg bath.
On the ground floor, the property has two separate receptions, a conservatory and stylish fitted kitchen. Further benefits are a garden and double garage/workshop.
Priced at £205,000, this beautifully decorated home will suit a range of buyers, including a growing family and professionals.
For further details and to view this attractive property, contact Mark Symonds at Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk

Monday 22 August 2011

HOUSE PRICES SET TO RISE BY 14%


House prices are expected to rise by 14% over the next four years, according to the influential think-tank, the Centre for Economics and Business Research.
The Centre forecasts that the value of the average British home, currently £176,000, will increase to an all-time high of £200,700 in 2015 with hikes of 2.4% in 2012, 3.4% in 2013, 3.6% in 2014 and 4% in 2015.
It says the ongoing shortage of housing, a gradual increase in the availability of mortgage finance and a prolonged period of loose monetary policy will cause the upsurge in house prices.
House building will remain depressed for the next four years and this, combined with population growth, will result in an increasing shortage of accommodation.
The CEBR says this is likely to elevate house prices, making home ownership less affordable and placing further pressure on the rental market. Furthermore, the base rate is unlikely to rise above 2% before 2015.
Shehan Mohamed, economist at CEBR, said: “We forecast an average of 110,000 new homes to be built every year over the medium term.
“This is significantly lower than the 225,000 homes that need to be created every year to keep pace with current housing needs, population growth and the trend towards reduced household sizes.”
Douglas McWilliams, chief executive of CEBR, said: “We do not expect a house price boom, but the housing shortage is likely to push prices gently upwards.
“By 2015, our updated forecast price for the average house is £200,700. The previous peak level was £191,200 in 2007.”

Tuesday 16 August 2011

LANDLORDS' CONFIDENCE IN BUY-TO-LET MARKET GROWS




Optimism has grown among landlords for their buy-to-let prospects, according to a new report.

Almost a quarter of landlords are feeling more optimistic about the prospects for their property portfolios, rental income and yields, Paragon Mortgage’s Q2 Private Rented Sector Trends Report reveals.

They are encouraged by the availability of buy-to-let finance, with 22% in the second quarter of this year saying that it was reasonably available, compared with 17% in the first quarter.

Some 23% of landlords feel more optimistic than was the case in Q1, particularly if they are professional landlords, 30% stating they were more optimistic, compared with 15% of smaller-scale landlords.

On average, landlords expect to have 13.1 residential properties in their portfolios in a year’s time, compared with 12.6 properties currently - the first time in two years that landlords have predicted an increase in the number of properties in their portfolios.

Nearly three out of ten landlords (29%) have increased rents during the second quarter, the majority of whom reported an increase of between 2% and 4%, states the report.

Landlords are also more optimistic about the net value of their portfolios, with a growing proportion expecting an increase in value (14% in Q2 against 13% in Q1), and fewer are forecasting declining values (12% Q2 vs 19% Q1). The majority of landlords (74%) expect net values to remain the same.

The report also shows a shift in the types of property that landlords are looking to add to their portfolios during the third quarter. Of those looking to purchase during the quarter, terrace houses are the most popular choice, with more than half of landlords saying they expect to buy this type of property.

There have also been increases in the popularity of semi-detached houses (up from 28% to 41%) and detached (up from 9% to 22%).

Commenting on the report, Adam Offer, managing director of Besley Hill, the South West’s biggest network of independent estate agents, says: “The trend shown by this report is consistent with the increasing number of buy-to-let deals being arranged for landlords by the Mortgage Advice Bureau (MAB) representatives at our offices throughout Bristol and Gloucestershire.”

Monday 8 August 2011

HOUSE PRICES ON THE RISE


Further signs of an improvement in the UK house market have emerged after figures from both the Halifax and Nationwide showed prices rose in July.
The average price of house rose to £168,731, up 0.2 per cent from the previous month, according to Nationwide, compared with a drop of 1.1 per cent a month ago.
Data from the Halifax showed prices rose by 0.3 per cent in July, with prices on a quarter-to-quarter basis up for the first time in 14 months, following a 0.5 per cent rise in the three months to July.
With little change in either the level of house sales or the number of properties on the market since late 2010, both the Halifax and Nationwide said the steady market conditions have helped to stabilise house prices.
Nationwide reported that house prices have risen or remained unchanged for six of the seven months so far in 2011, with the highest increase being 0.6 per cent in February.

Thursday 4 August 2011

RETURN OF SELLERS BOOSTS HOUSING MARKET CONFIDENCE


The number of people selling their home rose in June to its highest level in more than two years, according to the National Association of Estate Agents (NAEA).

The average number of properties for sale per branch increased from 68 in May to 74 in June. This is the highest figure since April 2009, which saw an average of 76 homes for sale per branch.

The number of sales agreed also increased, from an average of eight per branch to nine. This suggests that the increase in sellers reflected confidence in the market rather than a glut of unsold properties.

The percentage of sales to First Time Buyers (FTBs) decreased slightly from 24 per cent in May to 20 per cent in June.

President of the NAEA Wendy Evans-Scott said: "The leap in available housing stock suggests increased confidence amongst sellers. They think there is a much better chance that their home will sell. For house-hunters, this is welcome news as it offers a wider choice of properties to pick from.

"However, efforts are still required to assist those looking to get onto the housing ladder if we are to see buyer activity match that on the sale side."

Tuesday 26 July 2011

HOUSE PRICES SURGE AGAIN


Britain’s housing market is bouncing back with average prices rising by more than £5,000, according to a national newspaper report.
Today’s Daily Express reveals that prices have shot up by £30 a day in the first half of the year with the cost of the typical three-bedroom semi now £216,260 – £5,478 higher than January.
Nicholas Leeming, business development director of property website Zoopla.co.uk, is quoted as saying that “the property market is back on the right track”.
The Zoopla research also shows that asking prices for top-end homes have risen by nearly three per cent since the beginning of the year.
Commenting on the trend, Adam Offer, managing director of Besley Hill, Bristol and Gloucestershire’s biggest independent estate agents, said: “I expect the surge to continue due to such factors as low interest rates and demand outstripping supply. Now is a good time to buy property.”

Tuesday 12 July 2011

FISHPONDS BRACE WITH A NEIGHBOURLY FAMILY ASPECT



When Bridget Smith told her mother that the house next door to her Victorian mid-terrace property was coming on to the market, she jumped at the chance of buying it.
“My mum was on the phone the next morning to ask if I would mind if she put in an offer because she would love to move next door and watch the grandchildren grow up,” recalled Bridget.
Now, with the two children in their mid-teens, Bridget and her widowed mother have put the two houses, numbers 53 and 55 Berkeley Road, Fishponds, up for sale to move to west Wales.
“Apart from new home developments, chances like this, to buy two houses next to one another, rarely come along,” said Mark Symonds, senior branch manager at Besley Hill’s Fishponds office.
“It’s an ideal opportunity for people wanting to move so that they can live next-door to an elderly relative or perhaps someone else in the family they can call upon as an on-site baby-sitter.”
However, in the case of these two bay-fronted properties, they could also attract independent buyers.
The three-bedroom number 53, which is on the market for £164,950, is suited to professionals, young families and parents seeking a property for a son/daughter attending local colleges while, at £150,000, the two-bedroom number 55 will appeal to first-time buyers as well as professionals.
Arranged over three floors, number 53 is an outstanding house offering charming accommodation with great character featuring a superb roof conversion forming a top floor bedroom complete with en-suite shower.
Features include natural wood stripped floors and panelled internal doors with period-style handles, stained and leaded glazed windows and attractive fireplaces.
Further benefits are a lovely Victorian-style bathroom, stylish timber-effect kitchen and delightful landscaped rear garden.
Number 55 also has an eye-catching landscaped rear garden together with well-modernised refurbished accommodation offering a high level of comfort with gas heating and many uPVC double glazed windows.
For further details and to view these properties, contact Mark Symonds at Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk

Friday 17 June 2011

CONFIDENCE IN HOUSING MARKET IS GROWING, SURVEYS SHOW


New data from two major property surveys shows that confidence in the housing market is increasing.
Both the latest Building Societies Association Property Tracker and the Halifax Housing Market Confidence Tracker confirm the trend.
The Halifax survey supports this positive outlook with one third of respondents predicting that prices will rise this year. Half feel that it would be a good time to buy over the next three months.
The quarterly Building Societies Association survey reveals that the number of people who do not consider now is a good time to buy has fallen from 29% to 21% since March while the same proportion, 41%, believe that now is a good time to buy.
Further increased confidence in the market is indicated by the proportion of people concerned about future falls in property prices decreasing from 24% in March to 19% in June.
A lack of job security continues to worry prospective buyers but this is also less of a barrier, being cited by 48% of respondents in June, down from 57% in March.
Adam Offer, managing director of Besley Hill Estate Agents, confirms the property market revival indicated by the results of the new surveys.
"These encouraging statistics reflect what we are finding at our offices throughout Bristol and Gloucestershire," said Mr Offer. "They are signs that the worst is over and a recovery in the housing market is underway."

MORTGAGE SEEKERS "SPOILED FOR CHOICE"


There is no lack of choice for home owners looking for a suitable mortgage, according to a leading Bristol financial adviser.
"In fact, you could say they are spoiled for choice right now with thousands of mortgage products currently available," says Jonathan Mayall, of the award-winning Mortgage Advice Bureau (MAB).
"The number of mortgage products on the market from lenders increased to more than 7,400 during the first two weeks of this month after averaging a little over 7,000 in May.
"This demonstrates an increasing willingness to lend and more products means greater competition and better rates for borrowers as lenders withdraw and re-introduce new products, refreshing and re-pricing existing mortgage deals.
"Average mortgage rates for two- and five-year fixed rates have fallen back and now stand at 4.44% and 5.44% respectively while average two-year tracker rates have also reduced further to another new low of 3.38%."
Jonathan Mayall, based at Besley Hill Estate Agents' Fishponds office, is one of a team of MAB representatives providing financial services at Besley Hill's offices throughout Bristol and Gloucestershire.
National awards won by MAB include Best Mortgage Broker and Best Protection Broker.

Wednesday 8 June 2011

ESTATE AGENT'S BMX BIKE RAFFLE PRIZE



David Vincent, director of Besley Hill Estate Agents at Downend, has provided a brand new BMX bike as a raffle prize for the forthcoming St Augustine’s school summer fete, which he sponsors each year.
St Augustine's school and parish have been running different summer events for over 40 years and this year’s fete is being held on Saturday, July 9, within the grounds of the school in Boscombe Crescent, Downend.
There will be a wide variety of game stalls, ranging from old favourites such as skittles, coconut shy, tin can alley, splat a rat and hook a duck, to new exciting games like space hopper grand prix and bouncy boxing.
Other attractions include produce and book stalls, bouncy castles, tombola, cake stall, BBQ and the all-important beer tent, as well as displays by Morris Dancers and cheerleaders and a tug of war tournament.
All of this, plus lots more, can be enjoyed from 1.00pm till 4.00pm for just 50p per adult and 25p per child entrance.
“Everyone is welcome to come and join in a really fun family day out," says St Augustine’s PTFA representative, Sue Mulrenan.
Photo shows Sue and David Vincent with the BMX bike to be won as a prize in the St Augustine’s school summer fete raffle.

Wednesday 1 June 2011

EXPERTS PREDICT HOUSE PRICES WILL LEAP BY 16%

Economists predict that the cost of the average home will gradually rise 16 per cent to take prices above 2007's high as the market returns to growth from next year.
Leading experts forecast that house prices are set to rise by £30,000 and that mortgage lending will double as Britain's economy picks up over the next four years.
The respected Centre for Economics and Business Research (CEBR) think-tank believes there will be a return to a sustainable housing market as the high street banks provide more funds to help people buy property.
The CEBR calculates the average cost of a property today is £175,000. By 2015 that will be £205,643. The 4 per cent year-on-year surge is predicted to start at the end of 2011 and carry on until 2015. It would see the average UK house price rise to above the 2007 high of £191,340.
CEBR chief executive Douglas McWilliams told the Daily Express: "The main factor driving house prices up is the shortage of available housing which has already pushed up rents. But the factors that will ultimately drive house prices up again are the loose monetary policy that will accompany the Government's deficit reduction and the ability of banks to lend again on consumer-friendly terms as their own underlying financial position improves.
"This should not be confused with boom and bust. We are forecasting a gradual four-year recovery at an annual rate of about 4 per cent."

THREE-BEDROOM SEMI IN PRIME LOCATION



A superior 1930s three-bedroom semi-detached house, 76 Oldbury Court Road, Fishponds, occupies a desirable position close to Oldbury Court Estate and nearby shops and services.
This attractive home, ideal for professionals and growing families alike, offers spacious well-proportioned accommodation with such benefits as many uPVC double glazed windows, original white panelled internal doors and gas heating.
Fitted with a modern range of wall and floor storage cabinets, the 13ft 5ins x 7ft 8ins timber-effect kitchen has recently been refurbished and includes a built-in brushed steel-effect oven, inset glass top hob and wine storage unit, splashback tiling and vinyl floor covering.
Both the lounge and dining room have fireplaces with real flame coal-effect gas fires while double glazed sliding patio doors provide a pleasant outlook from the dining room on to the generous 60ft rear garden.
On the first floor of the property, which has been in the same ownership for many years, are three bedrooms, a bathroom with turquoise suite of pedestal wash basin and panelled bath with shower unit, and a separate w.c.
Located within the rear garden boundary is a double garage with twin aluminium-framed up-and-over entrance doors (one with electric remote door opener) and a side pedestrian door onto the rear garden.
For more details and an appointment to view this highly rewarding home, which is on the market for £215,000, contact Besley Hill Estate Agents, 764/766 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk

Thursday 19 May 2011

HOUSE PRICES UP BY 1.2% IN MARCH


The latest UK house price index statistics produced by the Department for Communities and Local Government were released on Tuesday 17 May 2011.
The latest statistics release includes data based on mortgage completions during the month of March 2011.
The key points from the release are:
• In March UK house prices increased by 0.9 per cent over the year and increased by 1.2 per cent over the month (seasonally adjusted).
• The average mix-adjusted UK house price was £205,565 (not seasonally adjusted).
• Average house prices were 0.5 per cent lower over the quarter to March, compared to a quarterly decrease of 0.4 per cent over the quarter to December (seasonally adjusted).
• Average prices increased during the year in England (1.3 per cent) but decreased in Scotland (-0.7 per cent), Wales (-2.5 per cent) and Northern Ireland (-13.9 per cent).
• Prices paid by first time buyers were 0.3 per cent lower on average than a year earlier and prices paid by former owner occupiers increased by 1.4 per cent.
• Prices for new properties were 10.7 per cent higher on average than a year earlier whilst prices for pre-owned dwellings increased by 0.2 per cent.

Monday 9 May 2011

SIX-BEDROOM FARMHOUSE AT LYDE GREEN



A six-bedroom Grade II listed farmhouse at Lyde Green, believed to date back to the mid-to-late 1700s, has come on to the market with Besley Hill Town & Country Homes at Downend.
Priced at £799,950, the property occupies a semi-rural location with countryside views to front and rear and is conveniently situated close to the Avon Ring Road and major motorway networks as well as for the local amenities at Yate and Emersons Green.
Entry to Lyde Green Farm House is via electronically operated iron gates with an intercom system providing secure access into an area which is mainly brick paved providing ample off street parking.
The ground floor accommodation comprises a solid oak front door, entrance hall, lounge with inglenook fireplace and wood burner, separate dining room, large kitchen/diner with built-in appliances and a further inglenook fireplace with wood burner, utility room, cloakroom and study.
There are four bedrooms, two with en-suites, and a family bathroom with roll-topped claw foot bath and walk-in double shower area on the first floor and three interconnecting rooms on the second floor.
Externally, the property has two garages, a stone-built summer house, barn area providing storage, and well-tended lawns to the front, side and rear.
This charming home retains many original features complemented by modern facilities such as oil-fired central heating.
For further information and an appointment to view contact Besley Hill Town & Country Homes at 10 Badminton Road, Downend, Bristol, BS16 6BQ, tel 0117 956 1234, email downend@besleyhill.co.uk

Thursday 28 April 2011

BRISTOL PROPERTY PRICES CONTINUE TO RISE


The property market in Bristol is continuing to improve, with house prices in the city rising in March for the third successive month.

The 0.1 per cent rise means that the average property in Bristol is now on the market for £196,448, up almost £180 on the previous month.

Asking prices are up 2.2 per cent on December 2010, when the average property was on sale for £192,220, according to the latest house price index from FindaProperty.com

"Bristol's property market is doing a brisk trade right now and has bounced back from the traditional winter lull," said their property analyst, Samantha Baden.

"We are seeing a big demand from people moving away from expensive areas in London and the South East to enjoy the better quality of life and lower property prices Bristol has to offer.

"This is helping to keep transaction numbers up and keeping prices buoyant when other parts of the country are struggling. Asking prices in big cities were all down or flat last month, but Bristol is bucking the trend."

Nationally, the National Association of Estate Agents revealed that the number of new buyers registering with estate agents rose to an eight-month high of 290 during March, up from 268 in February.

And high street bank Halifax reported that buying a property is now nearly £100 per month cheaper than renting one as a result of record low interest rates and house price falls.

Tuesday 19 April 2011

House Prices Up 5% This Year!


House prices increased by 0.67% during Q1 of 2011 to reach £197,153 reported Azzetz House Price Watch (AHPW) today.

Their index is based on house price information from Nationwide, RightMove, CLG and LSL Acadametrics - shows property values have risen by an average of £1,305 over the last three months.

AHPW stated house prices fell by 0.5% compared to Q1 2010, but the three-month annualised average rate of growth is now 2.98%.

Chief executive Stuart Law at AHPW stated “UK house prices have shown resilience in the face of the government’s spending cuts, recouping losses witnessed at the end of 2010 in the first few months of this year.”

“We expect prices to continue to increase in Q2 in line with a number of new mortgage funding schemes and good news stories regarding the economy.”

Mr Law stated recent falls in the rate of inflation & unemployment have helped to boost consumer confidence, which, combined with limited housing supply and improving mortgage finance, will continue to push house prices upwards this year.

Law believes the Bank of England to raise interest rates by 0.25% in the next few months. “The slight increase in mortgage repayments as a result will have a negligible impact on homeowners and prospective buyers who will continue to benefit from historic low rates.”

“Interest rates are unlikely to exceed 1% this year in order to compensate for recent tax increases and spending cuts. These low rates will continue to support house prices and consequently, unlike many commentators, we still expect values to increase by around 5% this year.”

Friday 15 April 2011

FULLY REFURBISHED THIRTIES SEMI



Besley Hill Estate Agents at Whitchurch Village strongly recommend an internal viewing to fully appreciate everything 24 Kinsale Road, Whitchurch, has to offer.
Presented to the highest standard, this 1930s three-bedroom semi-detached property, which is on the market for £229,950, has been completely refurbished by the vendor.
The home comprises an open plan lounge/dining room/kitchen, three bedrooms and refitted bathroom, together with such benefits as a small garage and off-street parking, gardens, double glazing and gas central heating.
The kitchen has been refitted in white with an extensive range of base and wall units with pull-out storage baskets and incorporating a one-and-a-quarter bowl square sink with mixer tap,
Also included are a kidney-shaped electric ceramic hob with extractor hood over and tiling behind, double oven and grills inset into a matching unit, integral coffee maker, fridge and freezer. The tile-effect flooring has under-floor
heating.
The bathroom, which comes with feature bath with mixer tap, shower screen and mains shower with large square shower head, wash hand basin set on to plinth and low-level w.c., also has tile-effect flooring with under-floor
heating.
French doors lead from the dining room to a pretty rear garden with a decked patio with feature lighting, a second seating area, lawn and a concrete-built storage shed.
For further details and an appointment to view, contact Besley Hill Estate Agents at 91 Bristol Road, Whitchurch Village, Bristol, BS14 0PS,
tel 01275 891444, email whitchurch@besleyhill.co.uk

Wednesday 13 April 2011

"MARKET IS RECOVERING SO BUY NOW!" - top estate agent


The housing and mortgage market is enjoying a period of constant revival, according to one of the west’s leading estate agents.
Stimulated by the continued involvement of first-time buyers and the buy-to-let sector, March saw a strong upturn in activity, figures issued by Besley Hill reveal.
Based on transactions at their 17 offices in the region, there was a 10% increase in residential mortgage valuations compared to 12 months ago – the fifth successive month a year-on-year rise has been recorded.
Besley Hill’s other findings include valuation instructions 15% higher than in the same period a year ago in the first three months of 2011; 6% more valuations for residential property in March compared to February; and valuations in the first quarter of the year up by 25% on the previous three months.
“The situation has improved partly because we have also seen a return of first-time buyers to the market,” said Besley Hill managing director Adam Offer. “We carried out 20% more valuations for these buyers last month than in February and 25% more in the first quarter of 2011 than in the previous quarter.
“In fact, with 35% of all valuations being for first-time buyers, it was the highest proportion of all our valuations since September 2010.”
The buy-to-let sector also played a part in the recovery with valuations undertaken by Besley Hill for investors rising by 16% in March compared to a year ago, up by 8% on the previous month, while in the first quarter of the year, there were 50% more valuations for landlords than in the same period last year.”
Adam Offer added: “There is no doubt that a recovery is upon us – whether this will be sustained throughout the year remains to be seen. But we all know that the best deals are done just before the upturn is in full swing.
“So my advice is to take advantage of low interest rates and competitive house prices while you can. It could prove to be the best time for many years to come.
"If you love the home you have just been round to view, if your job is safe and if you reckon you can afford it, ignore the gloom and doom merchants, get some sound quality mortgage advice and buy it!”

House Sales Surge in March


Agency Express’s Property Activity Index for March shows monthly house sales were up 23%.

This was a fall on the whopping 38% increase house sales seen in February but it was the second month-on-month rise.

Monthly house sales were up 23.2% in March following February’s rise of 38.3%. Sales reached their highest level since May last year and were 4.8% up on March 2010 and 10.2% up on March 2009. Each region saw an increase in sales ranging from a 47.8% rise in the East Midlands to 3.7% in Wales. Greater London sales rose 37.3%, in the North East they were up 36.4% and Yorkshire saw a rise of 32.2%.

It was also the third consecutive month rise in the number of ‘For Sale’ listings which were up up 25.0%, the highest level achieved since August 2010. This is also 6.4% higher than March 2010 and 47.7% higher than 2009.

All regions bar one saw improvements in new ‘For Sale’ listings. Scotland saw a rise of 42.4% followed by Greater London at 39.1%, the North West at 37.4% and the South East at 26.6%. The North East was the only region to see a fall with the number of new For Sale listing dropping -0.8%.

Stephen Watson, managing director, Agency Express, says: “This latest set of data paints an encouraging picture for the housing sector.

“Not only has there been a significant uplift in new ‘For Sale’ listings and house sales but the trend over the last two or three months indicates that this might be sustainable.”

He adds that the fact that London is showing strong growth in both the number of properties being put on the market and the number of sales that are going through is a good sign as traditionally this has then radiated out into the rest of the regions in following months.

Source: MAB 13.04.11

Unemployment Falls by 17000 - Good News?


According to the BBC today unemployment has fallen by 17,000. This would seem to be good news!?

However, no doubt over the next few days as the journalists consider various angles not immediately apparent it will turn into bad news!? Watch this space!

Anyway...if you are considering a move or purchase - check out our website for a great choice of homes - many at sensible prices to attract immediate buyers!

11.04.11 Besley Hill Estate Agents

Average LTV's at Highest Level for 3 years


Average Loan to Value (LTV) mortgages are at their highest level for 3 years according to Mortgage Strategy today.

The volume and availability of the all important 90% LTV bracket have grown by the largest amount during this period.

The return of this sector of the market has given rise to a fresh influx of first time buyers coming back to the market place - keen to take advantage of the many cheap homes available at the moment.

It is our opinion that 2011 will be the last year of the bargain priced home - so take advantage and start looking now!

For great independent mortgage advice contact any local branch - you may be pleasantly surprised!

13.04.11 Besley Hill Estate Agents

HOME WITH PERIOD FEATURES



Situated in a high street position on The Parade at Chipping Sodbury, close to all facilities, is an attractive two-bedroom Grade II listed home, which comes complete with period features such as beamed ceilings and an inglenook fireplace.
Apart from the log-burning stone fireplace, the 14ft 7ins x 13ft 11ins (maximum) lounge has ceiling beams, tiled and parquet flooring, glazed storage cupboard, fitted desk/study area, concealed staircase and a fitted window cupboard.
The kitchen, with two Velux windows in the roof, offers an impressive range of wall and base units with granite worktops and integrated oven, hob, filter hood and dishwasher, fridge and microwave.
There are also tiled splashbacks, breakfast bar, fireplace, under-unit lighting, tiled flooring and a wall-mounted combination gas boiler serving the central heating and hot water supply.
The bathroom has a roof-window, ceiling beams, tiled floor, double radiator, low-level w.c., pedestal wash hand-basin, panel bath and tiled splashbacks.
The concealed staircase from the lounge leads to a small landing and the two bedrooms, both of which have wooden sash windows, radiator, wooden floor and feature beamed ceiling.
Outside, there is a raised flower/shrub border at the front of the property and, at the rear, a large enclosed garden with lawn, flower and shrub borders, vegetable garden, outside tap, log store and large garden shed.
For further details and an appointment to view 5 The Parade, which is on the market for £219,950, contact the agents, Besley Hill Town & Country Homes, at
14 High Street, Chipping Sodbury, tel 01454 313575, email sodbury@besleyhill.co.uk

Wednesday 23 March 2011

CHANCELLOR'S FTB INITIATIVE IS JUST WINDOW DRESSING!


Adam Offer, managing director of Besley Hill Estate Agents, with 17 offices in Bristol and Gloucestershire, gave a cool welcome to the Government's new scheme to help first-time buyers get on to the property ladder.
He said: "The budget today has offered very little to assist in stimulating the housing market. The FirstBuy scheme announced today will offer 10,000 first-time buyers up to £25,000 each in the form of a loan towards their deposit on any NEW HOME purchase. The scheme will be administered by the Department of Communities and Local Government (DCLG) – who in the past have announced schemes before they were ready to market, producing massive confusion.
"This initiative will encourage first-time buyers to buy new homes at inflated prices on cramped developments with huge inherent parking problems – potentially slums of the future – rather than stimulate the wider housing market where there are many sensibly priced homes. The key is surely in unlocking this end of the market which will ultimately generate more transactions through the chains – stimulating the market as a whole – so it is an opportunity missed in my opinion.
"George Osborne's FirstBuy scheme won’t go beyond scratching the surface of the problem faced by the vast majority of first-time buyers as it’s exclusively for new-build properties and only around 10,000 buyers will benefit - a fraction of the overall number of potential first-timers currently misplaced by the mortgage famine in higher LTV (loan-to-value) deals.
"Although this is a tiny step in the right direction, it's merely window dressing the wider problem of lack of assistance to first-time buyers."

Monday 14 March 2011

England faces 750,000 housing shortfall by 2025


England faces a shortfall of 750,000 homes by 2025, according to a new report from the IPPR.

Its analysis of official government projections show that when the economy bounces back the gap between supply and demand could be equivalent to the entire housing demand of the populations of Birmingham, Liverpool and Newcastle combined.

It says the best case scenario for the economy will require more than 280,000 extra homes each year. But if housing supply continues at the rate of the last twenty years – around 160,000 additions per year – the gap between the number of households and the number of available homes ranges from 255,000 and 1.2 million by 2025.

The worst supply and demand mismatches will be in London, the South East, South West, West and East of England and Yorkshire and Humberside. In these regions demand is projected to be substantially higher than net additions to the housing stock in recent years.

The North West of England is the only region where supply could meet demand, with 40,000 extra homes compared to the number of households, due to the high rate of unoccupied premises at present.

The report shows that the social housing sector in particular will be under extreme pressure, no matter how the economy performs in future. If the economy performs poorly, up to 1.2 million households will priced out of the private sector and will need social housing.

Even under good economic circumstances, an additional 550,000 households will need social housing by 2025. The report says that without a new housing policy, this demand will not be met.

Nick Pearce, director of IPPR, says: “We can’t go on as we have done. Britain needs to build more homes. That’s not going to happen without a fundamental review of housing policy. This new analysis shows the serious scale of the problem.

“If the rate of house building doesn’t radically increase, we face a growing housing crisis. Whether the economy performs well or poorly, a serious gap looms between housing supply and demand. Our ageing population and rising expectations for living standards are going to drive up demand but if there’s no change in housing policy it will seriously hold back supply.”

Our Opinion: Here at Besley Hill we firmly believe that 2011 will be the turning point - and the last year you will be able to buy reasonably priced homes - as the market recovers an acute shortage will be the norm. Talk to any local Besley Hill branch for more on this opinion.

Thanks to Mortgage Strategy 14.03.11

83% of MPs say FTBs need more support


The majority of MPs believe more must be done to help first-time buyers, research from Genworth Financial shows. About Time - we say!

A survey commissioned by the specialist insurer and carried out by ComRes reveals 75% of MPs think people with a stable income but who are unable to put up a deposit of 10-20% should have access to mortgage finance provided repayments are affordable.

Furthermore, 83% of those asked stated their constituents need more support in getting on the housing ladder, a figure that rises to 100% for MPs with constituencies in London.

The survey also shows 84% of respondents agree that a more fluid housing market, stimulated by easier access for first-time buyers, would help the UK’s financial situation and improve the social mobility of their constituents.

Angel Mas, president of mortgage insurance for Genworth Financial in Europe, says: “The deposit remains the biggest barrier to homeownership in the UK, along with the prudent approach taken by lenders, which are allocating their scarce capital to other segments of the mortgage market.”

He says it is crucial that high loan-to-value lending returns to the market in order to make it accessible for individuals who have a sound credit profile but are unable to save for a deposit.

“Lenders can participate safely in the high LTV segment by transferring default risk to a specialist insurer. This model creates additional safeguards for the overall system as insurers will only accept this risk if appropriate lending criteria are applied and monitored.”

Mas highlighted the example of other major economies that have continued to make finance available to first-time buyers.

He adds: “This framework already exists in a number of other major economies which have withstood the economic crisis, with the flow of credit to prime first-time buyers remaining open through the cycle. The urgency of this situation should point towards their example rather than looking for new and untested solutions.”

Thanks to Mortgage Strategy 14.03.11

Tuesday 8 March 2011

HOUSE PRICES IN BRISTOL BUCK THE TREND


The average price of a house in Bristol rose more than £6,000 in the 12 months prior to end of January to stand at £172,376, according to the Land Registry. The average price a year ago in the city was £166,192.

This bucks the trend because nationally the average cost of a home dropped by 0.9 per cent to £163,177 over the same period. The national year-on-year annual drop came despite the fact that house prices edged ahead by 0.2 per cent during January itself.

"The rise in house prices in Bristol reflects our own experience," says Adam Offer, managing director of Besley Hill Estate Agents. "In fact, our branches achieved house price increases over the year in excess of the Land Registry figure."