LOTS WITH POTENTIAL AT BESLEY HILL AUCTION

Lots offering buyers scope to put their own stamp on a property are included in Besley Hill's auction sale at the BAWA Pavilion Lounge, Southmead Road, Filton, on Thursday, December 6, starting at 7.00pm. One of the homes requiring some modernisation work, 5 Glendale, Downend, which has a guide price of £300,000-£375,000, is a detached chalet-style four-bedroom house with detached double garage, generous grounds/gardens and extensive driveway. Also in need of refurbishment and repair is 4 Engine Common Lane, Yate, guide price £175,000-£225,000, a detached bungalow situated in a semi-rural location with three bedrooms, wet room and large gardens. A grade II listed property which would benefit from updating, 33 High Street, Wickwar, Wotton-under-Edge, guide price ££230,000-£250,000, is a four/five bedroom character cottage in a popular village location with good-sized enclosed gardens. Another grade II listed cottage requiring refurbishment, 5 ChurchEnd, Eastington, Stonehouse, near Stroud, has been sold prior to auction. In need of renovation at Fishponds, 2 Forest Road, guide price £100,000-£120,000, is a spacious natural stone-fronted three-bedroom end-terrace house. A 1930s end of terrace three-bedroom house with double garage,188 Glenfrome Road, Eastville, guide price £125,000-£150,000, also requires modernisation. Shop premises currently let and first floor flat in need of updating at Fishponds, with a guide price of £80,000-£100,000, would suit an investor or builder. A modern three-bedroom detached house with integral garage, 5 Winton Lane, Totterdown, guide price £165,000-£175,000, comes with a south-facing courtyard laid to decking. “Auction is a fast and effective method of sale so the buyers of all these properties will be able to look forward to completion on their purchase at the start of the New Year,” said auctioneer Nigel Freston. For a brochure or further information call the auctioneer’s office on 0117 970 1551 or access the brochure online at www.besleyhillsurveyit.co.uk

HOUSING MARKET RECOVERY IS ON THE WAY

Positive signs of a recovery in the housing market in the coming months are indicated by the latest Rightmove House Price Index. Prices are up by 2% (+£4,617) year-on-year – the highest annual rate of increase seen in November since 2007 and still up by 0.2% year-on-year with the ‘London effect’ removed. Further encouraging signs for the market include: Rightmove search activity up 20% and enquiries up 11% on same time last year. Supply tightening in lower price brackets pushing up prices on terraces and flats by over 4%. Bank of England reports mortgage approvals up 9.2% on last quarter. The House Price Index shows an even more marked improvement in the South West where there is a year-on-year average price increase from £246,874 to £254,021 – an annual increase of 2.9%. Adam Offer, managing director of leading South West estate agents, Besley Hill, endorsed the Rightmove findings. “All the reports we are getting from our 15 branches throughout Bristol and Gloucestershire suggest that we can look forward to a better year ahead,” said Mr Offer.

THE FUTURE IS BRIGHT FOR THE HOUSING MARKET

Prospects for the housing market have improved considerably with the publication of a new economic forecast and the expectation that house prices in parts of Bristol will soar when the main rail line to London is upgraded.
Ernst & Young predicts that the UK economy will rebound in the second half of this year and grow by 1.2 per cent next year, boosted by a housing market revival next spring.
In its Item Club autumn forecast, it says that an improving outlook for consumers and easing credit conditions are paving the way for a housing market recovery. Housing transactions are expected to bottom out this autumn before recovering in spring, with house prices set to follow.
Ernst & Young Item Club chief economic adviser Peter Spencer says: “The latest credit conditions survey shows one of the biggest headwinds facing the UK has now begun to ease – lending has started to loosen up and we are hopeful the housing market is primed for a recovery early next year.”
In the longer term, the cost of buying a house in parts of Bristol, including areas like Totterdown and Bedminster close to Temple Meads station, will leap by up to 20% with the electrification of the rail line between the South West and London.
Adam Offer, managing director of leading South West estate agents Besley Hill, said: “The electrification of the line will take 20 minutes off the journey time between Bristol and London, slashing it to one hour and 20 minutes, so more people will be encouraged to commute between the two cities.
“This will inevitably create increased demand for properties near to Temple Meads and affluent areas in and around Bristol from people working in London who become attracted by the idea of enjoying the lifestyle here and commuting to the office.. As a result, property values will soar.”

MORTGAGE LENDING REACHES TWO-YEAR HIGH

Mortgage lending for homebuyers reached a two-year high in August, according to figures from the Council of Mortgage Lenders (CML). Some 55,300 loans were advanced for house purchase during the month worth £8.4 billion, representing an 11 per cent increase on a year ago and the largest number of loans seen since July 2010, the CML said. Lending to first-time buyers is up by a fifth on a year ago with £2.8 billion worth of loans advanced, only just below the levels seen in March when the ending of a stamp duty concession for this sector prompted a rush of people looking to complete deals. Mortgage availability has been increasing since an £80 billion funding for lending scheme was launched at the start of August, although much of this has so far been concentrated around people with larger deposits of at least 20 per cent. Adam Offer, managing director of leading South West estate agents, Besley Hill, said the CML data was consistent with an upsurge in mortgage applications being handled by Mortgage Advice Bureau (MAB) representatives at Besley Hill’s 15 offices throughout Bristol and Gloucestershire. “There are indications that funding for lending is having a positive effect on the market with several lenders cutting their rates recently,” said Mr Offer.

BRISK BIDDING EXPECTED AT BESLEY HILL AUCTION

Auctioneer Nigel Freston is expecting some competitive bidding at Besley Hill’s property auction at the BAWA Pavilion Lounge, Southmead Road, Filton, on Thursday, October 25. He enjoyed a 100% success rate at their auction last month when all available lots were sold or under offer. Particular interest is likely to be shown in 5 ChurchEnd, Eastington, Stonehouse, near Stroud,pictured, a pretty Grade II listed end-terraced cottage in need of refurbishment. Offered with a guide price of £180,000, the property comprises two reception rooms, kitchen/dining area, two/three bedrooms, study landing area and utility room, together with potential off-road parking space. An impressive three-bedroom period bay-fronted house, 4 Balaclava Road, Fishponds, guide price £125,000-£145,000, has a converted roof space and a large modern garage workshop. Two of the lots, described as ideal investment properties, are purpose built one-bedroom flats with a guide price of £65,000. The first floor 7 Atlas Close, Speedwell, and the ground floor 6 Whiteway Court, St George, both come with allocated parking spaces. Bids will also be invited for two commercial properties: Unit 2B Balaclava Industrial Estate, Balaclava Road, Fishponds, guide price £120,000, a 2,000 sq ft ground floor industrial unit with 1,150 sq ft first floor mezzanine area and three parking spaces, and Gloucester House, Gloucester Street, Avonmouth, guide price £150,000-£175,000, a 3,900 sq ft approx self-contained commercial building and yard with secure boundary, which has potential for refurbishment/redevelopment. For further details view the auction catalogue online at www.besleyhillsurveyit.co.uk or contact the auctioneer’s office at 10 Badminton Road, Downend, Bristol BS16 6BQ, tel 0117 970 1551 , email info@besleyhillsurveyit.co.uk

FAMILY HOME WITH STUNNING EXTENSION

On the market for £240,000 with the Fishponds office of Besley Hill Estate Agents, 16 Lambrook Road, Fishponds, is a superior 1930s-style three-bedroom semi-detached house with a stunning rear extension forming a beautiful modern open plan kitchen/breakfast room. The 18' 4" x 7' 2" (5.59m x 2.18m) kitchen is fitted with a high quality range of newly finished white high gloss wall, floor and drawer storage cupboards with rolled edged timber grain effect working surfaces and integrated dish washer and washing machine. Other features include floor to ceiling height pull out larder storage unit, single drainer sink unit with mixer taps over, two Velux roof windows, space for range cooker, under cupboard lighting, tiled floor and underfloor heating, splash back tiling, space for upright fridge/freezer, stainless steel effect wall sockets and switches, concealed ceiling spotlighting, UPVC double glazed window to rear with a lovely outlook onto the rear garden and multi-paned internal door into the hall. The adjoining breakfast room, measuring 10' 2" x 9' 0" (3.1m x 2.74m), also has a tiled floor with underfloor heating, together with Velux roof window, UPVC double glazed sliding patio doors opening onto the rear garden, two wall light points and concealed ceiling spotlighting. There is a 14' 1" x 12' 4" (4.29m x 3.76m) lounge with a UPVC double glazed bay window with leaded glazed details, radiator, feature fireplace with a built- in cast iron wood burring stove upon a stone-laid hearth with a built-in natural wood timber beam/mantle above, leading into a dining room (12' 2" x 11' 5" (3.71m x 3.48m)) with feature fireplace opening with a built-over timber beam mantle suitable for open fire use, decorative multi-pane door into the hall and radiator. Bedroom 1 is fitted with two built--in wardrobes and has a UPVC double glazed bay window with leaded glazed details; bedroom 2 has two built-in double wardrobes (one containing a combination gas-fired boiler for domestic hot water and central heating) and UPVC double glazed window to the rear with a lovely open outlook onto the rear garden; and bedroom 3 has a feature polished wood display ledge and UPVC double glazed and leaded window to the front. The bathroom is luxuriously appointed with a newly applied white suite of timber panelled bath, low level w.c., wash basin, tiled floor and matching wall tiling, ceiling spotlights/ceiling extractor, shower screen, fitted mixer shower attachment over the bath, heated towel rail and UPVC double glazed and frosted window to the rear. Outside, the property benefits from an attractive front garden which has been maintained to a good standard with a variety of plants and young shrubs. The larger rear garden is ideal for a growing family, offering well tended lawns, established wide borders and a decorative gravelled surface to one side within timber log edging. There is also a paved patio surface and pathway leading to the side of the property and stepping stones to an attractively fenced section of garden/hard standing space suitable for one vehicle alongside a timber shed. A rear unmade lane exists to the rear of the property boundary. At the head of the rear garden on the former site of the original garage the current owners have obtained full planning permission for the development of a double garage (subject to the necessary building regulations approval). This attractive family home, which is presented to a high standard throughout, is located in a desirable position within convenient walking distance of Fishponds’ shops, services and schools. For further details and an appointment to view, contact Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol, BS16 3UA, tel 0117 965 3162, website www.besleyhill.co.uk, email fishponds@besleyhill.co.uk

VICTORIAN PROPERTY WITH LOTS OF PERIOD FEATURES

Situated in a highly popular area of Fishoponds, 26 Thingwall Park is a Victorian 4/5 bedroom home described by the agents, Besley Hill, as “full of character” and “offering charm and space”. The property comprises three separate receptions, conservatory and kitchen on the ground floor, along with three bedrooms, bathroom and study/fifth bedroom on the first floor and shower area and master bedroom on the second floor. There is also a good size rear garden. Boasting lots of original features, this attractive, spacious mid terrace house has gas central heating and is suitable for families or professionals. Entered via a period panelled door and vestibule with decorative period cornice and period panelled door with leaded stained glass feature windows, the hallway has a staircase with stripped back wooden balustrades and spindles, and period decorative cornice. The lounge (15' 1" x 12' 11" (4.6m x 3.94m)) has a recess sash bay window to the front, decorative period cornice and Victorian-style open fireplace with ornate tiled surround and wood mantle above while the dining room (12' 6" x 12' 2" (3.81m x 3.71m)) has a natural stripped wood floor, fitted radiator, and coal effect period fireplace with ornate tiled sides and wood mantle surround. There are double doors to the conservatory, which has glazed double doors leading onto the garden and ornate wood support into the ceiling, and there is a third reception room with sash window to the side, fitted radiator and parquet flooring. The kitchen has a good range of base units with working surfaces incorporating a one and a quarter bowl sink, gas point for cooker, plumbing for automatic washing machine and wall mounted boiler. Off the first floor landing are three bedrooms, all with sash windows and fitted radiators; a study/fifth bedroom with sash window to the front; and a bathroom with modern refitted white suite with panelled bath with chrome effect fitted taps, low level w.c., pedestal wash basin with mosaic tiled splash back and mirror, and heated chrome effect towel rail.

On the second floor there is a landing with Velux window; a shower area with corner cubicle with electric shower and wall mounted sink; and a master bedroom (15' 1" x 11' 10" (4.6m x 3.61m)) with two skylights to the rear, one skylight to the front, exposed brickwork feature and built-in storage cupboard. Outside, the rear garden is mainly laid to lawn with timber shed and mature planting and borders. For further details and an appointment to view 26 Thingwall Park, which is priced at £275,000, contact Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol, BS16 3UA, tel 0117 965 3162, website www.besleyhill.co.uk, email fishponds@besleyhill.co.uk

CHOICE OF PROPERTIES AT NEXT BESLEY HILL AUCTION

Five contrasting properties will be sold to the highest bidders at Besley Hill’s next auction, to be held at the BAWA Pavilion Lounge, Southmead Road, Filton, on Thursday, 20 September. First under the hammer, with a guide price of £70,000, suitable for a developer/investor, will be 17 Glen Park, Eastville, a period mid-terraced two-bedroom house in need of refurbishment. Knoll View, Wotton Road, Wotton-Under-Edge, which has a guide price of £90,000-£100,000, is a two-bedroom 18th Century coach house in need of renovation with a large garage/workshop and studio, and front garden with parking. An attractive 1950s three-bedroom detached house requiring renovation, 60 Charnhill Drive, Mangotsfield, has a guide price of £225,000-£250,000. A modern kitchen and bathroom, central heating, double glazing, good decorations and gardens are features of a purpose-built flat, 6 Stourden Close, Frenchay (guide price £60,000-£80,000). The final lot, Gloucester House, Gloucester Street, Avonmouth, guide price £150,000-£175,000, a self-contained 3,900 sq ft approx commercial building and yard with secure boundary, has potential for refurbishment/development. For further details view the auction catalogue online at www.besleyhillsurveyit.co.uk or contact the auctioneer’s office at 10 Badminton Road, Downend, Bristol BS16 6BQ, tel 0117 970 1551, email info@besleyhillsurveyit.co.uk

UK HOUSE PRICES REBOUND IN AUGUST

The price of a typical UK house increased by 1.3% in August, according to the latest Nationwide House Price Index. Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “UK house prices rose by 1.3% in August, the largest monthly increase since January 2010, reversing the declines recorded in the previous two months. Given the difficult economic backdrop, the extent of the rebound in August is a little surprising. However, we should never read too much into one month’s data, especially since monthly price changes have been impacted by a number of one-off factors this year, such as the ending of the stamp duty holiday for first time buyers. These are factors that cannot be controlled by the usual process of seasonal adjustment. Nevertheless, the fact that the annual pace of house price decline moderated to -0.7% in August from -2.6% the previous month provides evidence that conditions remain fairly stable. This may be explained by the surprising resilience evident in the UK labour market, with further increases in employment in recent months, even though the UK economy has remained in recession.” How much have the housing and mortgage markets changed since the financial crisis? Mr Gardner commented: “L P Hartley famously said that ‘the past is a foreign country, they do things differently there’. In many respects these sentiments apply to the UK housing market, with a marked difference between current conditions and those prevailing between 2005 and 2007. Perhaps the most dramatic change is in the level of activity. For example, the average number of mortgage approvals is currently running at around 50,000 per month, around half the level prevailing over the 2005-2007 period. Interestingly, the share of mortgages taken up by first time buyers has actually increased slightly to 39% of the total, up from the 37% prevailing in the pre-crisis period. The more cautious approach of borrowers and lenders is evident in the increase in the average deposit from 10% to 20%. Affordability has improved on a number of metrics. Interest rates on both fixed and variable rate mortgages have declined. Together with a modest decline in house prices and a steady rise in average earnings, the monthly repayments for a typical first time buyer with a 20% deposit have declined to around 29% of take home pay, down from 40% before the crisis. In practice the decline is slightly more pronounced than this. Borrowers, especially first time buyers, have been increasing the term of their mortgage in recent years. The average term for first time buyers is currently 28 years, up from 25 years over the 2005 to 2007 period. While this increases the total amount repaid over the term of the loan, it lowers the monthly repayments.” Will we return to the pre-crisis pattern? Mr Gardner said: “The evolution of housing market conditions in future is likely to be closely tied to the trajectory of the wider economy. The number of housing transactions should pick up as the UK recovery gathers pace in the years ahead, though this is likely to be a gradual process. Policy measures aimed at supporting the availability of credit and lowering the cost of borrowing, such as NewBuy and the Funding for Lending scheme, should help to provide support. However, much will depend on developments in the labour market. Increased job security, lower unemployment and stronger earnings growth will be needed to generate a sustained upturn in activity. Though uncertain, a modest further improvement in affordability is likely. Interest rates will not remain at current lows forever, but rate hikes still appear some way off. Further asset purchases by the Bank of England should also help to keep down longer-term interest rates. In addition, house prices are expected to remain fairly stable over the next two years, while incomes are likely to continue to rise gradually, which will also help to support affordability.“

HOUSE PRICES RISE THREE TIMES AS MUCH AS INCOMES OVER DECADE

The cost of buying your own home in England increased by more than three times the rate of an average salary over the past ten years. National Housing Federation research found that in 2001 the average price of a home was £121,769, and the average salary was £16,557. In the space of ten years, the price of a home has rocketed to £236,518 – an increase of 94% - whereas wages have risen just 29% to £21,330. Saving for a mortgage has also got a lot harder with the amount of deposit needed to get a mortgage rising by 386%. In 2001 the deposit for a typical 90% mortgage (available in 2001) was £12,177, about nine months salary. By 2011 the amount banks were willing to lend was less, and so the deposit needed for a typical 75% mortgage leapt to £59,129, almost three years salary. In 2001 the ratio between average house price and salary was 7.4, but by 2011 that had risen further to 11.1. Regional variations show even greater gaps. David Orr, chief executive of the National Housing Federation, said these figures show that it is getting increasingly harder for people to buy a home of their own in the current climate. “With the gap between income and house prices growing ever wider, people can often feel like they have to win the lottery to be able to buy in their local area,” said Mr Orr. “A shortage of homes means the price to buy them is being pushed ever higher by the market, and out of reach of hard working families. Unless we start building more homes people can truly afford to match the demand, this will only get worse.” Adam Offer, managing director of leading Bristol and Gloucestershire estate agents Besley Hill, said: “The housing market is actually a lot better than is widely reported, The main problem is that there are not enough properties coming onto the market. At the moment there are a lot of people who have been in rented accommodation for a while. They’ve been waiting to buy in the hope that house prices would drop lower than they have. But the reality is that, in this area, the majority of prices have remained fairly stable. Figures from the Land Registry show that for the south west prices have actually gone up by 1.2 per cent in the last 12 months, and first time buyers are few and far between. Mortgages are available, but deposits have to be big to take advantage of the best rates. There are some high loan-to-value deals out there, but it’s whether you can afford the repayments. Some people are getting more inventive with the ways they find the money. For example, parents are taking equity out of their own homes so that their children can get on the housing ladder. Some are also using inheritance from their grandparents, and others are taking advantage of the Government’s new build scheme. I think this scheme was quite ill-conceived, though, because a lot of new builds are priced far too high and then are hard to sell.”

HOUSE SALES ARE UP THIS YEAR

Besley Hill, Bristol and Gloucestershire’s biggest independent estate agents, with 15 offices throughout the region, are enjoying rising house sales. “We have seen a 25% increase in sales on the year to date, so it’s looking much better than last year,” said managing director Adam Offer. This improving picture is confirmed by figures from HM Revenue & Customs (HMRC), which show that, despite the recession, home sales so far this year are up from 2011. Completed property sales in the first half of the year were 11% up on the same period last year, the data from HMRC reveal. Sales rose by 7,000 in June to 83,000, taking the total across the UK for the first six months of the year to 431,000, an increase on the 387,000 recorded in the first half of 2011. Last week, the Council of Mortgage Lenders (CML) said its members' total lending, to both house buyers and those just switching lenders, for the first half of the year, was 7% higher than in the same period last year. “One factor boosting sales and borrowing in the first half was the reintroduction of stamp duty for first-time buyers on homes worth up to £250,000,” said Adam Offer. “Some buyers pushed through their purchases in the early months of the year, to beat the reintroduction of the tax on 24 March.”

ESTATE AGENTS' BIKE RAFFLE PRIZE

Every year, Besley Hill Estate Agents at Downend donate a bike as a raffle prize for the St Augustine of Canterbury Primary School Summer Event. The school and parish have been running different summer events for over 40 years and this year’s fete is being held on Saturday, June 30, within the grounds of the school in Boscombe Crescent, Downend. “Everyone is welcome to come and join in a really fun family day out," says Sue Mulrenan, one of the parents organising the event. Picture shows Sue and David Vincent, director of Besley Hill Estate Agents’ Downend office, with the bike to be won in the raffle.

SOUTH WEST LEADS THE WAY FOR HOUSE SALES

Estate agents in the South West are enjoying growing sales, despite figures from the Royal Institution of Chartered Surveyors (RICS) indicating a significant fall in house prices elsewhere in the UK. Data from the Land Registry for England and Wales shows that outside of London more houses were sold in the region between January and March this year than anywhere else in Britain. Some agents in the Bristol area have reported as much as a 40 per cent rise in sales compared to this time last year, in contradiction with the picture painted by the RICS. Adam Offer, managing director of Besley Hill, which has 15 offices covering Bristol and Gloucestershire, disagreed completely with the idea that the housing market has frozen. Not here, absolutely not,” he said. “We are seeing a rise across the board. Sales are up, viewings are up, and more potential buyers are registering with us. We’re lucky here that the picture isn’t as bleak as it is nationally. In places like Thornbury, we’re able to sell a three-bed semi with phone calls. What we’re seeing now is the people who are living in rented accommodation starting to see house prices edge up slightly and deciding to buy. So we have an issue of supply and demand.”

MODERNISED COTTAGE WITH CHARACTER AND STYLE

Described by the selling agents, Besley Hill Estate Agents at Fishponds, as “an outstanding detached cottage”, 101 Small Lane, Stapleton, is a spacious refurbished home with modern decorations and double glazing that has retained its character and style. The property, priced at £225,000, comprises two reception rooms, modern kitchen, basement room, two double bedrooms and bathroom, together with a detached garage, off street parking and an enclosed garden. The lounge has a period fireplace, ceiling cornice and centre rose while the second reception room/dining room has part natural stripped wood and part slate tile flooring, a natural wood mantel into the chimney breast and a feature fireplace. The kitchen includes modern cream-fronted wall and base units with roll top work surfaces incorporating a butler’s sink with ornate brass mixer taps over and fitted gas hob with an oven below and extractor over. The bathroom is part tiled throughout and comes with a modern suite comprising panelled bath, low level wc, pedestal wash hand basin and double shower cubicle with shower off the main system. At the rear is an attractive enclosed garden with paved patio adjoining the property and a lawned section with mature planting and raised timber decked area. There is off street parking for several vehicles at the front with natural stone boundaries leading to a gravelled section with detached garage housing Worcester gas combination boiler for central heating and hot water. For further details of this lovely cottage, or to make an arrangement to view, contact Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk, website www.besleyhill.co.uk

FOUR-BEDROOM BUNGALOW WITH GRANNY FLAT

A four-bedroom detached bungalow, The Laurels, situated in a desirable location at Over, just outside Almondsbury, comes with a self-contained granny flat. Accessed via a secure gated entrance, the attractive 1930s bay-fronted property has been extended and modernised to incorporate flexible and versatile accommodation which also includes an en suite to the master bedroom. Occupying a delightful rural setting with large established private gardens and tandem garage/carport, the bungalow is on the market with Besley Hill Town & Country Homes at Thornbury for £485,000. “This home could suit either the growing family or those with a dependent relative,” says branch manager Andrew How. “Alternatively, the bungalow could interest someone in search of a property with a private office to run a small business from home.” For further details and to arrange a viewing, contact Andrew at Besley Hill Town & Country Homes, 57 High Street, Thornbury, Bristol BS35 2AP, tel 01454 411522, email thornbury@besleyhill.co.uk

EXECUTIVE HOME IN COUNTRYSIDE LOCATION

If you are in search of something a little off the beaten track, then Besley Hill Town & Country Homes at Thornbury have a property at Berwick Close, Compton Greenfield, a hamlet near Easter Compton in South Gloucestershire, which could be just what you are looking for. Enjoying a delightful semi-rural setting on a exclusive development of just three detached homes, this executive-style four-bedroom detached home is surrounded by open countryside yet just a short drive from Bristol, Cribbs Causeway and junction 17 of the nearby M5 motorway. The deceptively spacious property, which is on the market for £410,000, provides flexible and versatile accommodation with a wealth of appealing features, including separate receptions, a large kitchen/breakfast room, cloakroom, utility and en suite to the 20ft master bedroom. A top-quality conservatory off the lounge opens directly onto beautifully tended private south- facing rear gardens which are adjacent to fields alive with native wildlife such as.foxes, badgers, rabbits and birds. A double attached garage with additional parking on the driveway are an added benefit of this highly desirable family home. For further details and to arrange a viewing, contact Besley Hill Town & Country Homes, 57 High Street, Thornbury, Bristol BS35 2AP, tel 01454 411522, email thornbury@besleyhill.co.uk

HUGE COTTAGE HAS LOTS OF POTENTIAL

The Old Post Office at Aust, which is for sale from Besley Hill Town & Country Homes at Thornbury for £450,000, is a huge character cottage with scope for a wide range of uses. In addition to providing ample family accommodation, having five bedrooms and five reception rooms, the property has a private rear garden with outbuildings, an old bakery, extensive garaging and secure car parking for numerous vehicles. Selling agent Andrew How says: “Although the house is very much a home for the large or growing family, it could also be of interest to a car enthusiast or, subject to obtaining the necessary permission, a purchaser in search of a property in which to start a business because this is a vast area with fantastic potential for further development.” The Old Post Office, which still has a traditional red telephone box and postbox outside, is located in the heart of historic Aust just a short stroll from the 13th century church and the village pub. Although some cosmetic updating may be desired, the cottage has been extensively refurbished and modernised within recent years, including a new roof in 2009, “As substantial character property of this nature is very rare, we would encourage early appointments to view,” adds Andrew How. For further details and to arrange a viewing, contact Andrew at Besley Hill Town & Country Homes, 57 High Street, Thornbury, Bristol BS35 2AP, tel 01454 411522, email thornbury@besleyhill.co.uk

THREE HOUSES FOR SALE ON SAME ROAD - BUT DON'T THINK THEY ARE ALL ALIKE!

Three homes on the same road are on the market with Besley Hill Estate Agents’ Fishponds office. But, if you assume that these terraced Victorian houses, situated in Elmgrove Road, Fishponds, are all the same, you will be mistaken. “Although the properties have a similar front elevation, they are radically quite different internally,” says senior branch manager, Mark Symonds. “All of them have retained some original period features but each has its own character as a result of modernisation and improvements over the years. So it really is a case of not judging a book by its cover.” Number 24, priced at £250,000, is a highly distinctive, beautifully presented four-bedroom property with double glazing. In the lounge is an attractive period-style fireplace with a decorative cast iron grate, inlaid Victorian tiles and a polished wood surround. Also on the ground floor are a dining room, with half-glazed French doors leading on to the rear garden, and a kitchen/breakfast room fitted with a range of pine-effect wall and floor storage cupboards with rolled edge work surfaces, built-in oven, gas hob and extractor. There are three bedrooms and a bathroom on the first floor and, on the top floor, a master bedroom with two Velux roof windows, further front skylights and twin under-eaves storage cupboards. Number 28, for sale for £235,000, is a superior three-bedroom house which has a lovely atmosphere and benefits from many tasteful improvements to create a home of quality. The lounge has a period fireplace with impressive marble surround, inlaid pictorial tiles and tiled hearth, complemented by a sash bay window with stained and leaded glazed details, ceiling coving, ceiling rose and picture rail. There is a separate dining room with built-in glass-fronted dresser and a kitchen/breakfast room that comes with a superb cream natural wood-effect shaker-style kitchen incorporating a wine storage unit, Belfast inset china sink with twin cupboard beneath, gas range cooker, overhead extractor, natural wood block work surfaces and natural wood stripped floor. The secluded rear garden has a level well-tended lawn, circular paved patio with pergola above with established climbing shrubs and plants, timber garden shed, decorative gravelled surfaces and patio area. On the market for £232,950, number 52 is a spacious house offering modern accommodation mixed with period charm comprising a lounge, dining room and kitchen/breakfast room, along with three bedrooms, bathroom, study/ office and carpeted loft space. The kitchen area has modern base and wall panelled units with wood work surfaces, circular bowl sink and fitted gas hob with oven below and extractor over. Glazed French doors in the kitchen/breakfast room open on to the rear garden, which has timber decking adjoining the property with the remainder laid to block paving and an area with bark chippings and mature planting. For further details of these three houses, or to make an arrangement to view, contact Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk, website www.besleyhill.co.uk

YOU WOULD GIVE A MILLION FOR THESE VIEWS!

“This super semi-detached family home has the most amazing views you are likely to find for any property with less than a £1,000,000 price tag!” That is what Andrew How, manager of Besley Hill Town & Country Homes at Thornbury, says about 2 Cutts Heath, Milbury Heath, Tytherington, which has just come on the market priced at £240,000. Enjoying a semi-rural setting in a convenient and sought after hamlet just a short drive from Thornbury, this desirable home has been tastefully extended to include a sun lounge in addition to separate receptions and three bedrooms. The property offers a host of other benefits such as UPVC double glazing, propane gas central heating, large gardens and allotment, and stone-built workshop. “Extensive garaging is also a particular feature of this lovely home,” said Andrew How. For further details and to arrange a viewing, contact Andrew at Besley Hill Town & Country Homes, 57 High Street, Thornbury, Bristol BS35 2AP, email thornbury@besleyhill.co.uk.

HOUSE PRICES SET TO RISE BY UP TO 8%

Leading south west estate agents Besley Hill are forecasting that house prices will start to rise again next year and could increase by as much as 8% over the next three years. This prediction from managing director Adam Offer supports the view of property consultancy CBRE, which also says that prime central London will continue to outperform the wider housing market, with values increasing by 6% this year and by 22% over the next three years. Adam Offer said: “House prices in the south west are not going to increase by the same amount as central London, of course, but I agree with CBRE’s expectation that they will rise significantly, possibly by as much as 8%, over the next three years. At the moment, most of Bristol and South Gloucestershire, where our offices are concentrated, are seeing prices remain static as supply is matching demand.”

MODERN TOWN HOUSE IN TRANQUIL LOCATION

Tucked away in a discreet position on the prestigious Stoke Park development at Stapleton, this three-bedroom modern town house offers attractive well-proportioned accommodation with many highlights. The property, 26 Parnell Road, is on the market with Besley Hill Estate Agents at Fishponds for £194,950 with no upward chain. The quarry-tiled covered entrance has a decorative door leading to a hall with feature laminate wood grain effect floor, staircase with useful recess beneath, cupboard containing hot water cylinder and door to integral garage. Off the hall are a cloakroom with white suite of low w.c. and inset vanity wash basin; utility room fitted with storage cupboards with rolled edge working surfaces and single drainer stainless steel sink unit; and a bedroom with French doors to the rear courtyard garden. On the first floor is an L-shaped lounge/dining room with a feature fireplace with natural wood surround, marble effect inlay and matching hearth. The adjoining kitchen/breakfast room is fitted with a stylish range of timber grain effect wall, floor and drawer storage units to incorporate a brushed steel effect oven, hob and concealed extractor. Situated on the top floor is the master bedroom with an en suite shower room with a white suite of low level w.c., pedestal wash basin and independent tiled cubicle with a thermostatically controlled shower, slate effect floor and mosaic wall tiling. Also on this floor is another bedroom with a door into a bathroom which has a luxury white suite of panelled bath with mixer shower attachment over, low level w.c. and vanity inset wash basin. The garden is principally arranged to the rear of the property as a courtyard paved area with wrought iron effect boundary offering a direct outlook onto a landscaped open grassed area. Additionally, the property benefits from an integral garage with up and over door, power and light, and door into the house. For further details and an appointment to view 26 Parnell Road, Stapleton, contact Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk, website www.besleyhill.co.uk

SURVEYS SHOW GROWING CONFIDENCE IN HOUSING MARKET

Three surveys just published show increasing confidence in the housing market. Nearly 40% of respondents to The Halifax ‘Housing Market Confidence tracker’ poll expect house prices nationally to increase next year – almost double the proportion that believe they will go down. At the same time, a similar poll by property portal Zoopla reveals that 67% of British home owners believe that house prices will rise over the next six months, with the average property price across Britain predicted to rise 3.9% during this period. In the third poll, from the Post Office, 14% of aspiring first-time buyers who plan to buy within the next five years expect to buy this year and 22% next year. Almost half (45%) are confident of being able to fund the deposit themselves by saving up, while 16% will get help from their parents and the same proportion by using the Government’s FirstBuy scheme. The Zoopla poll also shows that people are now finding it easier to get a mortgage than at the end of last year, with 17% saying availability has improved. The Halifax survey indicates that most people still think of it as a buyers’ market: 55% think now is a good time to buy, more than double the 24% who believe it is a good time to sell. Adam Offer, managing director of leading south west estate agents, Besley Hill, said these findings reflected a general view that the tide has turned and a recovery in the housing market is now underway.

SHOP WITH FLAT TO BE SOLD AT AUCTION

A generous-sized lock-up shop with one-bed first floor flat is being sold with a guide price of £165,000-£185,000 at Besley Hill’s auction at BAWA, Filton, on Thursday 24 May. The shop premises at 6 Straits Parade, Fishponds, come with a multi-purpose rear room, staff room and toilet facility while the flat above has an entrance from the rear. Further benefits include a garage and rear garden. There is scope for some improvement/refurbishment offering an investment/business opportunity. The aluminium double-fronted shop front has shutters revealing a central doorway into a main shop area (19' 0" x 15' 6" (5.79m x 4.72m) wide) opening into a secondary shop area (16' 0" x 14' 6" (4.88m x 4.42m) wide) which leads to the staff room (11' 6" x 5' 6" (3.51m x 1.68m)). The shop toilet is fitted with a white wash basin with water heater, splash back tiling and frosted glazed window to a rear door into a separate w.c. The rear office, storage or preparation room, measuring 16' 5" x 8' 5" (5m x 2.57m), includes a single drainer stainless sink unit with twin cupboards beneath. The first floor flat, which can be accessed via the shop internally or from the rear of the premises, has a 14' 6" x 10' 5" (4.42m x 3.18m) lounge with two UPVC double-glazed windows to the front. The kitchen (11' 8" x 9' 6" (3.56m x 2.9m)) is fitted with several wall and floor storage and drawer units with timber grain-effect rolled-edged working surfaces, fitted gas cooker, single drainer stainless steel sink unit, space for fridge and separate freezer, hot water cylinder and UPVC double-glazed window to the rear. The bedroom (14' 6" x 8' 3" (4.42m x 2.51m)) has a UPVC double-glazed window to front; the bathroom contains a white suite of panelled bath, wash basin and fitted shower unit; and there is a separate low level w.c. At the rear of the property are a garage (16' 5" x 9' 3" (5m x 2.82m)) and a garden/yard with lawned area and pathway leading to a vehicular lane alongside a small outbuilding/store. The property is situated near Fishponds centre in the direction of Downend via Fishponds Road (A432). Straits Parade is a rank of shops positioned slighty behind Fishponds Road on the left. For further details, including open house viewing arrangements, contact 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

AUCTION PROPERTY WITH PERIOD FEATURES AND LARGE GARDEN

A bay-fronted mid-terrace three-bedroom house with period features and a large rear garden is to be sold at Besley Hill’s auction at BAWA, Filton, on Thursday 24 May with a guide price of £110,000 to £130,000. Situated in a popular area, close to local amenities, 4 Russell Road, Fishponds, has an entrance via a panelled door into inner vestibule with glass-panelled door to a hallway with stairs to the first floor, period cornice and under-stairs storage cupboard. The 15' 0" x 11' 2" (4.57m x 3.4m) lounge has a double-glazed bay window to front, period cornice and fireplace with mantle above while the dining room, measuring 13' 0" x 9' 9" (3.96m x 2.97m), has a period fireplace and window to the rear. Also on the ground floor are a kitchen (8' 10" x 7' 4" (2.69m x 2.24m)) with sink and gas point for cooker, a lean-to storage area, a w.c. and a glass door to the garden. On the first floor, bedroom 1 (14' 9" x 11' 5" (4.5m x 3.48m)) has a double-glazed window to the front, fireplace and built-in cupboard, bedroom 2 (12' 11" x 9' 7" (3.94m x 2.92m)) a window to the rear and fireplace, and bedroom 3 (9' 8" x 8' 3" (2.95m x 2.51m)) a fireplace and window to the rear. The bathroom has a panelled bath, pedestal wash hand basin, double-glazed window to the front and a wall-mounted hot water system. The rear garden, approximately 90 feet in length, is mainly laid to lawn. For further details of 4 Russell Road, including viewing arrangements, contact 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 970 1551, website www.besleyhillsurveyit.co.uk

DEMAND GROWS AS STAMP DUTY HOLIDAY ENDS

Potential buyers continued to test the market during March as the stamp duty holiday finally came to an end, says the latest RICS UK Housing Market Survey. New buyer enquires edged up in March with 9% more surveyors reporting increases rather than decreases in demand, says the latest survey. This is the highest reading in almost two years and suggests that the final weeks of the stamp duty holiday saw buyers looking to beat the deadline. Alongside this, the flow of new properties coming onto the market remained stable with a net balance of 2% more respondents reporting rises in new instructions (from +7% more in February). Significantly, many surveyors report that those looking to sell their homes must be realistic in their price expectations if they are to be successful. Looking ahead, with demand seeing gentle increases across much of the country, expectations for future transaction levels remain positive with a net balance of 20% more surveyors expecting sales to increase over the coming three months. Simon Rubinsohn, RICS Chief Economist, said there had been signs of a pick-up since the start of the year, but he expected a "pause" in activity in April owing to the stamp duty holiday having expired. However, Adam Offer, managing director of leading south west estate agents Besley Hill, reports that this "pause" has not happened and demand is slowly outstripping supply.

BESLEY HILL CELEBRATE ANNIVERSARY AS MARKET BOUNCES BACK

Besley Hill, the west’s largest independent estate agency group, are celebrating their 35th anniversary with rising property sales.

“The housing market is bouncing back,” said managing director Adam Offer (pictured). “Buyers are returning and our performance has improved in all sectors of the business.”

Over the past 12 months, the group’s sales have increased by 44%, new buyer registrations by 85%, viewings by 37% and instructions by 9%, while pipeline business is up 44%.

“These figures mean that we have started the year in a much healthier position,” said Mr Offer. “But, as a consequence of this sales success, our stock of available property is down by 15% on a year ago, so we need more homes to sell.

“The revival in the property market is benefiting all our offices and I am confident that the trend will continue during the year ahead.”

Besley Hill, based in Thornbury, have 15 branches throughout Bristol and Gloucestershire.

They are at Bedminster, Bishopston, Bishopsworth, Chipping Sodbury, Downend, Dursley, Easton, Fishponds, Kingswood, Knowle, Longwell Green, Stroud, Thornbury, Whitchurch Village and Wotton-under-Edge.

In addition, property is sold under the hammer at regular sales conducted by Besley Hill Auctions.

Philip Besley and Robert Hill founded Besley Hill in 1977 with one branch in the Kingswood area of Bristol.

The growth has mainly been organic but the expansion into South Gloucestershire followed the acquisition of several estate agency offices from The Halifax.

A full range of property services is provided including house sales, lettings, mortgages (in conjunction with the award-winning Mortgage Advice Bureau), financial services, auction, survey and conveyancing.

For further information, contact Adam Offer at Besley Hill Estate Agents’ head office, 57 High Street, Thornbury, BS35 2AP, tel 01454 411522, email thornbury@besleyhill.co.uk

EXTENSION OF COUNCIL RIGHT TO BUY SCHEME

The Government has confirmed the extension of the Right to Buy discount scheme to enable Council tenants to purchase their homes at discounted prices which could be worth up to 50% of the market value.
Under the scheme, those who have been a Council tenant for 5 years could receive a 35% discount with an extra 1% for each added year up to a maximum of £75,000. Tenants in flats will get 50% off after 5 years with 2% added yearly.
“This increase in discounts could open the door for millions of tenants in England and offer the opportunity to purchase a property with an affordable mortgage and climb on the property ladder,” said mortgage adviser Nigel Bull.
Nigel is one of a team of Mortgage Advice Bureau (MAB) representatives available to provide mortgage advice at Besley Hill Estate Agents’ 15 offices throughout Bristol and Gloucestershire.
For further details on how to purchase your Council home and to find out if you are eligible for this increased discount, contact Nigel Bull at Besley Hill’s Longwell Green branch (tel 0117 932 5686, email longwell@besleyhill.co.uk) or a MAB adviser at any Besley Hill office.

HOUSE PRICES WILL RISE FOR YEARS AHEAD

A Bank of England policymaker has stated that house prices are set to rise for
years to come.
David Miles, one of the Bank’s nine rate-setters, said in an official paper that this was because the desire for space caused by the UK’s rising population would reinforce planning restrictions and make it more difficult for housebuilders to keep up with demand, resulting in a rising trajectory for real house prices over the longer
term.
But Mr Miles warned that, although Britain's growing population will underpin rising house prices for years to come, fewer people will be able to benefit than in the past unless new financial products are created to help first time buyers.
“This is particularly likely in a country like the UK where population density looks set to rise relatively fast,” he said. “The model also suggests that the upwards trajectory in house values may ultimately become steeper than the rise in real incomes.”
“It should not be seen as a sign of a damaged market. It probably never made sense for there to be 100pc mortgages. There may be no price at which it makes commercial sense for such a loan to be available.”
He added: “New homeowners in the future may need to have more equity than was normal in the years leading up to the financial crisis. This will have an impact, probably permanently, on the pattern of home-ownership.
“The first effect is likely to be for prospective buyers to postpone their purchase, while they save more to accumulate a larger deposit. As a result, the average age at which people would buy their first home will rise, and the share of owner-occupied houses will fall.
“The change in the pattern of homeownership this generates can be expected to be very large if the required equity is only provided by the prospective homeowners themselves.”
To bridge the credit shortfall caused by risk-averse lenders, Mr Miles proposed a new “equity loan” product – which would act as the buyer’s deposit.
Under his plan, providers would take equity in the property in return for a larger share of the upside rather than any monthly or annual payments. He used the example of a 20pc equity loan, which would take 36pc of the increase in the value of the property.
“In exchange for taking a higher share of a capital gain on a property a provider of an equity loan might agree to receive no payments until the property is sold,” he said.
“One way in which financial institutions could provide such loans without taking on significant house price risk is to issue savings products with returns linked to house price changes, a saving product which potential home owners are likely to find particularly useful.
Adam Offer, managing director of leading south west estate agents, Besley Hill, said he agreed with the report’s findings.
“My regret is that it is considered that a housing boom would be out of reach for first time buyers because credit will remain in short supply,” said Mr Offer. “It is a fact that before the financial crisis, buyers did not need a deposit to secure a mortgage, whereas since the recession, large deposits have become essential.”

BRIGHT FUTURE PREDICTED FOR HOUSING MARKET

Chartered surveyors’ house price predictions were more optimistic in almost every area of the country in February, confirming that the UK property market is making a recovery.

The latest UK Housing Market Survey from the Royal Institution of Chartered Surveyors, a reliable barometer of the state of the market, showed that a net balance of 20% more surveyors predict sales to increase over the coming three months.

The survey also revealed that transaction levels continued to edge up, with the average amount of sales per surveyor branch moving up to 16, compared to 15.7 in January.

Adam Offer, managing director of leading south west estate agents, Besley Hill, said: “This is the first time since May 2010 that surveyors have not been predicting further price declines and confirms the experience of our branches that the market is picking up.

“In fact, some of our offices are now relying on new instructions to maintain their housing stock because of the sales they have achieved since the start of the year.

“But the RICS survey indicates that this will not be a problem because it shows 9% more surveyors reported instructions rose rather than fell and that new stock coming to the market has now risen for five successive months.”

"STUNNING" PROPERTY WITH LOTS OF PERIOD FEATURES

If you are looking for a property with plenty of decorative period features in the Fishponds area of Bristol, 3 Knowsley Road should fit the bill nicely.
For this attractive Victorian five-bedroom mid-terrace home comes with original fireplaces, internal panelled doors, cornices and leaded stained glass windows.
The property, which has a natural stone front elevation with upvc double-glazed sash bay windows, has just come on the market with Besley Hill Estate Agents at Fishponds priced at £295,000.
The spacious accommodation on the ground floor comprises three reception rooms with fireplaces and a smart open plan shaker-style kitchen.
On the first floor there are four bedrooms with bathroom, along with a further double bedroom and en-suite shower room to the second floor loft conversion.
At the rear of the house is a lovely enclosed garden with timber decked and lawned area with some established planting.
“This stunning property comes with a wealth of character,” says Joel Bennett, assistant manager of Besley Hill’s Fishponds office.
For further details and an appointment to view, contact Joel at Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol, BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk.

PROPERTY SALES SOAR AT FISHPONDS

The Fishponds office of Besley Hill Estate Agents is celebrating record February property sales.

In fact, senior branch manager Mark Symonds (pictured) and his team have been so successful finding buyers that they are now urgently seeking more homes to sell.

“This sudden demand for property has resulted in the sale of 90% of our stock so we are actively looking for new instructions,” said Mr Symonds.

“People who have previously been cautious about moving are starting to feel that now is the time to do so. There is no more doom and gloom, more a feeling of an impending property boom.”

Consequently, an increasing number of homebuyers are registering with Besley Hill Estate Agents at Fishponds to ensure that they have an early viewing when new properties come on to the market.

“Although first-time buyers who are anxious to complete deals before the stamp duty amnesty ends next month partly account for the sales surge, the interest is across the board,” said Mark Symonds.

“Homes that are affordable for first-time buyers have been selling quickly, as one would expect, but we have been selling to all types of buyers, including buy-to-let investors attracted by the returns achieved by landlords.”

Typical of the local property being sought by clients registered with Besley Hill Estate Agents at Fishponds are 24 Symington Road, a 1930s semi close to Vassalls Park, and 116 Lawn Road, a mid-terrace Victorian property located on a tree-lined road.

Properties like these always sell quickly whenever they come on to the market so an early inspection is always recommended by Besley Hill to avoid disappointment.

“The sales that we have achieved this month show that the housing market is beginning to recover,” said Mark Symonds. “So, if you are thinking of putting your house on the market, now is a good time to do it.”

For details of the range of property services offered by Besley Hill at Fishponds and their other offices in Bristol and Gloucestershire, contact Mark Symonds, Besley Hill Estate Agents, 764 Fishponds Road, Fishponds, Bristol, BS16 3UA, tel 0117 965 3162, email fishponds@besleyhill.co.uk.

MORE 95% MORTGAGE DEALS AND EASIER FUNDING FOR FIRST-TIME BUYERS

There are now more 95% loan-to-value (LTV) mortgage deals available to first-time buyers than at any time since the start of the financial crisis, according to leading broker the Mortgage Advice Bureau (MAB).
The number of such deals currently open to first-time buyers from MAB representatives at Besley Hill Estate Agents’ network of offices throughout Bristol and Gloucestershire is at a four-year high, with 59 deals currently available from 21 different lenders. This is up from just 25 in February 2011, nine back in 2010, and only three at the same time in 2009.
Even using the most conservative estimates, The Mortgage Advice Bureau suggests there could be over £210million worth of mortgage finance available to first-time buyers with a 5% deposit. Based on the average house price bought by first-time buyers, this is sufficient for over 2,000 first-time buyers to buy their first home.
As an indication of what this would mean for the housing market, during the 1980s and 1990s there were typically well over 500,000 first-time buyers every year – well over 1,350 a day, whereas currently there are only around 520 a day.
Adam Offer, managing director of Besley Hill, says first-time buyers are being held back from taking up these deals only because they are unaware that they are available again.
“Well over 85% of young renters aspire to become homeowners but the vast majority of these say the fact they cannot raise a deposit is the key reason for not buying,” said Mr Offer.
“There is a widespread perception that a minimum 20% or 15% deposit is required and they just don’t realise that there are now a lot more competitive 90% and 95% LTV mortgages back on the market."
Mr Offer said that the first port of call for prospective borrowers should be to a mortgage broker like a MAB financial adviser at one of Besley Hill's offices as they can best assess which is the best product for their needs.
"The fact that lenders are open to first-time buyers again is a really positive sign and indicates that now is an excellent time for them to buy,” added Mr Offer.

HOUSING CRISIS IS COMING TO AN END!

The housing crisis is set to end this year because of loosening credit, according to a new report.

Data from analytics firm Capital Economics reveals that market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings - up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics regards as “the clearest sign yet of an improvement in mortgage credit conditions”.
In contrast to a low of 74 per cent reached in mid-2010, banks are now lending at 82 per cent LTV.

The report notes the average credit score required to obtain a mortgage loan is 700 which, while higher than scores required prior to the crisis, is constant with requirements one year ago.

Welcoming the report, Adam Offer, managing director of leading South West estate agents Besley Hill, said he shares Capital Economics’ confidence in the future of the housing market.

“The level of current activity at our network of 15 branches throughout Bristol and Gloucestershire all points to the fact that the worst is over with the prospect of a much improved year ahead,” said Mr Offer.

NEW HOMES PRICES UP BY 3.2% IN PAST YEAR

The new homes market saw annual price growth of 3.2% in 2011, which is the first calendar year to see positive growth since 2006. The average price of a new home is now £7,029 higher than at the end of 2010.
The average asking price for a new home in December was £227,098, increasing 1.2% since November. The last quarter of 2011 saw consecutive monthly increases with prices up 2.6% over the three months.
The new homes market continues to show increasing price stability, although the number of new homes coming onto the market fell consecutively in the three months to December as housebuilders delayed new development and phase launches until the New Year. Annual growth of 10.2%, however, was still recorded.
Trading updates from some of the UK’s biggest housebuilders show that build completions in 2011 were up year-on-year and many have grown their landbanks but it remains to be seen what impact the new Localism Bill and the NPPF will have on build capacity.

£20MILLION FOR SAFETY NET AGAINST REPOSSESSION

Housing Minister Grant Shapps (pictured) has announced a new £20million safety net to help ensure that mortgage repossession remains the last resort for struggling homeowners.
This Preventing Repossessions Fund gives councils the opportunity to offer small interest free loans to struggling homeowners and ensure that court desks can offer on the day advice for those facing the prospect of repossession.
He urged anyone facing financial difficulty to use the range of free and independent advice available to get help and avoid losing their home.
The new funding includes £1million to ensure that free, on-the-day, legal advice is on hand in every county court for homeowners at risk of repossession. This much needed legal assistance is available at court to any individual facing homelessness and the cash will 'plug the gaps' in the Housing Possession Court Duty Scheme ensuring that all courts are able to offer a viable service, where it is not already provided by the Legal Services Commission or independently.
In many cases applications for possession orders are rejected or suspended when a householder has access on the day legal advice - last year over 30,000 households benefited from the court duty desks.
Mr Shapps also gave a £19million cash injection to councils, so they can ensure that local people have access to real financial support to help allay the threat of losing their homes.
The Preventing Repossession Fund, which is being allocated to every local housing authority in England, enables them to offer struggling homeowners small interest-free loans of less than £5,000 or grants to help ease debt pressures and give them the breathing space to get back top of their finances.
Having the right advice and support on managing debts is crucial in helping homeowners to regain control of their debt. Alongside financial support those at risk of repossession should be given the knowledge and help to manage their finances in the future.
Local authorities are encouraged to work innovatively and flexibly with other local authorities, lenders and homeowners to ensure that the Preventing Repossession Fund is sustainable and tackles repossession in the best way for their area.
Grant Shapps said: "Repossession should only ever be the last resort. No one in financial difficulty should be embarrassed to seek help if they need it. This cash ensures that no matter where you are in the country the advice and the financial support is on hand to help people get on top of their finances and keep them in their hard earned homes.
"Getting advice early is important but even for people facing a court hearing repossession is not a foregone conclusion. By extending the reach of the Court Desk scheme we are ensuring that no one is left stranded without the support of the free on the day legal advice that has already saved thousands of families from repossession."
The announcement comes as the latest figures from the Council of Mortgage Lenders show the number of homes taken into possession in 2011 to be 36,200, lower than the 40,000 originally forecast and the lowest since 2007.
Tackling the deficit to help ensure that homeowners don't face rapid increases in interest rates is a top priority for Government and interest payments for mortgages are currently the lowest as a proportion of total income since records began.
The Government is also investing more than £200 million into the Mortgage Rescue Scheme. The scheme, available through local authorities, is designed to offer a last resort to the most vulnerable families to avoid repossession.
For homeowners struggling to keep up with mortgage payments and worried about the threat of losing their homes the Directgov website -  www.direct.gov.uk/mortgages (external link) - has lots of free advice and information. Helpful advice is also on hand from organisations including Citizens Advice and the National Debtline.