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.

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.”

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

"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