Northfields

House Prices "Surprisingly Resilient" Says Nationwide

The Nationwide released its latest house price figures on November 29th, saying that UK house prices have remained "surprisingly resilient" in recent months. According to Nationwide, property prices across the nation have gone up again in November.

The latest figures from Nationwide revealed that the average home rose in value by 0.4% in November to £165,798.

"House prices have remained surprisingly resilient in recent months, despite the deterioration in the economic outlook," said Robert Gardner, the Nationwide's chief economist.

The Nationwide compares the average price of the past three months with the average price of the previous three months.

On the Nationwide's data this three-month on three-month comparison shows a rise of 0.2%.

Mr Gardner felt that the buoyant property market can be attributed to a lack of supply in the market.

Mr Gardner also was quoted on the BBC website saying that he "welcomed the latest announcement from the government on encouraging first-time buyer activity, but said that any action should also include measures to increase housing supply."

The government's housing strategy, announced earlier in the month, included a mortgage guarantee scheme to encourage lenders to offer 95% mortgages to buyers of new homes. You can read more about this scheme here.

Nationwide predicted that prices would stay the same or fall in the next 12 months.

Using the mortgage data from Nationwide, the latest figures show a 1.6% year-on-year increase. The

Even mortgage approval numbers for properties purchased, but not yet completed, has risen slightly to its highest level for nearly two years.

The mortgage approval figures were provided by another source, The Bank of England. These figures showed that October saw 52,743 approvals, up from 51,193 the previous month and the highest monthly total since December 2009.

It is beleived that with higher mortgage approvals last month which represents a level higher than the average for the previous six months, could signal that sales may pick up slightly in the coming months.

However not everyone is as optimistic.

Rightmove.co.uk's House Price Index had some very different findings stating that the average asking price of a property coming to market fell by £7,528 (-3.1%) in a month, the largest monetary fall since December 2007 and third largest percentage fall on record.

While Rightmove recorded a record fall, the Land Registry published their report on Monday which showed that prices in England and Wales had slipped only slightly over the course of the year.

With so many contrasting figures, which report do you believe?

The thing is that many of these reports vary in how they collect their data. Compare how these different house price surveys arrive at their figures.

Nationwide and Halifax

Perhaps the best known surveys of the property market are provided by Britain's two biggest mortgage lenders, Nationwide and Halifax. Both surveys cover the entire UK, rather than just England and Wales. Their figures are often very similar, as they are both based on the price agreed after a survey by their mortgage customers.
However, they are based only on property sales financed by mortgage lending, and do not include cash sales.

Land Registry

The Land Registry records all completed property sales in England & Wales. It publishes a monthly report on house prices, in addition to its quarterly survey. The survey records prices since April 2000. The survey also takes into account that incidences of the same house being sold again by using something called Repeat Sales Regression to measure the change in prices over time. In short, this means it is comparing the price of properties sold now with the price paid when it was sold before.

In addition, the Land Registry's quarterly survey is still very thorough. The proceeds of all the transactions are added up, and then divided by the total number of sales to reach an average sale price, but this measurement does not include repossessions and property transfers following a divorce to avoid altering the figures.

Because Land Registry takes almost all residential property sales into account, the Land Registry's figures can provide a unique insight into not only national but local prices. The main downfall of this survey is that the survey comes out only once every three months, the figures are out of date by the time they are published.

Rightmove

This property website produces its own house price survey. Very much in contrast to the Land Registry and Nationwide the Rightmove survey reflects the prices that properties are marketed at, by surveying asking prices. However, these surveys obviously do not reflect the prices at which properties actually sell.

House Prices in Your Area

To sum up, surveys are geared to reflect different aspects of the property market with information ranging from consumer confidence, to actual property sales to the range of asking prices as the basis of the survey. Many do not reflect the specifics of your local area.

For example, even within Rightmove's House Price Index you can see a vast difference in the market conditions from one area to the next. While the headline reads that there were record drops in prices with a 3.1% drop across the nation, the London trends within the very same report tell a very different story.

Below is a chart taken from Rightmove's House Price Index, showing the top 5 performing boroughs in London, two of which are boroughs that Northfields covers - Hammersmith and Fulham and Hounslow, which are showing rises in prices ranging from 5.1% to 0.4%.

So while property surveys can give you a certain overview of the nation's housing market, they will not be an accurate enough assessment of your own property's worth or indicate the state of the market in your specific area. For a more accurate indication of where the market stands in your neighbourhood, call our sales team on 0208 840 6666 or click here to request an up-to-date valuation on your property.

How Will the New Coalition Housing Strategy Affect You?

Last week the Prime Minister announced the launch of a new government housing strategy aimed at getting the housing market moving again, laying the foundations for a more responsive, effective and stable housing market in the future, giving tenants a range of quality properties to chose from, and to improve environmental standards and design quality. While the aims of the scheme are lofty and certainly sound good, can any of these strategies actually help you?

If you are so inclined, you could read the whole of the Coalition government's housing strategy document by clicking the link.  However the main elements of the scheme include:

• a mortgage guarantee scheme to encourage lenders to offer 95% mortgages to buyers of new homes (like the new 1 and 2 bedroom apartments Northfields currently has for sale in Northfield Avenue, Ealing, pictured above)
• an increase in the subsidy available to developers under the "Affordable Homes Programme".
• a change to the rules so that the money from the sale of council houses will go towards the building of new council homes.
• increased subsidies for councils that take over neglected homes which have been left empty for a long time.

How Might This Strategy Help You?

Prospective Buyers

For those people who would like to purchase a new home but have found it difficult to secure a mortgage, the new mortgage guarantee scheme will be the most appealing part of the new strategy.  The aim of this part of the scheme is to guarantee lenders against their losses if certain borrowers fail to repay their loans.  The goal of the scheme is encourage lenders to offer up to 100,000 potential buyers of newly-built properties mortgages even if they only have a 5% deposit, and not the 20% deposit that many lenders are currently requiring.

With many lenders fearing that house prices may fall, large deposits are required to secure a mortgage, thereby, insulating the lender against any potential losses if the market does suffer. 

Essentially, mortgage lenders are protecting their interests if the borrower was unable to pay their mortgage, leading to the property being repossessed and then sold on for less than the value of the mortgage. 

Lenders are also required to put aside a much larger financial cushion in their reserves if they lend with a small deposit rather than a large one as required by international banking rules.

So both of these elements mean that lenders are not approving mortgages for people with small deposits.

How the 95% Mortgage Scheme Would Work

An article on the BBC offered a great example of how the scheme would work:

"Let's suppose you want to buy a newly built flat selling for £100,000 but can only put down a £5,000 deposit.

At the moment your chances of being offered a 95% mortgage for the rest are non-existent.

Under the new scheme, if the developer, lender and you all agree, you may now be offered the 95% loan you desire.

That is because on top of your deposit, which will absorb the first £5,000 of any fall in the value of your home in the event you cannot repay the loan, the lender now has further comfort.

If the price of the property falls below £95,000, the lender will be able to reclaim 95% of any losses it incurs."

At the moment The Council of Mortgage Lenders (CML) says that the exact details of how the scheme will work are stilling being finalised.  However, in essence, the new house builder will contribute 3.5% of the selling price of the home to the lender, which will be held for seven years.  During the 7 years that their funds are held by the lender, the builder will accrue interest on their 3.5%.

The government will also provide money to add to the lenders financial cushion to the tune of a further 5.5% of the sale price.  Between the builder and the government the lender will be holding 9% of the sale price of the property as a contingency fund against any potential losses. 

The scheme will ensure that the lender will have insurance for 95% of its loss if the borrower defaults.

Who Can Benefit From the Scheme?

• buyers who want to purchase a newly built home and would like some help
• lenders who choose to participate
• property builders and developpers who choose to participate

If you do not want to participate in the scheme you don't have to, but conversely you will not automatically be granted the benefits from the scheme.

Is There A Time Frame or Limit on this Scheme?

The short answer is "We don't know".  No limits on the scheme have been stated by the government, so we don't know how much money will be available, nor how many people might be able to take advantage of the scheme. 

We do know that currently the scheme applies only to England, but similar models are being considered for the rest of Britain.

Does This Scheme Put an End to Negative Equity Worries?

No.  If a buyer misses their mortgage payments and defaults and then sells their home to pay the mortgage in full, they will still be liable if the subsequent sale price of their home is less than what they borrowed to purchase the house.  If you are not sure exactly what negative equity means, click the link to find out.

So under this new scheme, if you defaulted on your mortgage, the lender could recoup 95% of its own loss, then chase you for the loss too.

If you had any money that the lender could then claim, they would use the funds recouped from you to repay the insurance payment they held from the scheme.

In other words, the scheme does not protect the buyer against the loss of their home, it protects the lender from loss of the money it lent to you.  As the buyer, you indirectly benefit because the lender being insured against loss allows them to loan money to you that you otherwise never have been able to obtain to purchase your home. 

Essentially, the scheme greases the wheel of the mortgage lending processes freeing up funds for buyers to access.

If you do want to be insured against defaulting on your mortgage payments you will need to arrange for your own mortgage payment protection policy. For advice on how such a scheme works, speak to an independent mortgage broker who can find the right type of cover for you. Call Northfields on 0208 840 6666 or e-mail us at sales@northfields.co.uk and we can refer you to an independent broker who can advise you on how to protect yourself.

If you are interested in taking advantage of the scheme, you'll need to start looking for newly built homes.  Why not start by looking at these gorgeous 1and 2 bedroom luxury apartments for sale in Northfield Road in Ealing. 

Or browse the properties Northfields currently has available for sale by clicking the link. 

Keep Your Home Warm this Winter Whether You Own It or Rent It

With the increasing cost of energy, utility bills are set be noticeably more expensive this winter.  However, there are ways you can make your home more energy efficient.  Home owners can make more permanent changes to the property to ensure long term savings.  While tenants can make some simple changes to their property that will not be permanent (and therefore not a  violation of your tenancy agreement) while still preserving warmth and saving money. 

For Home Owners:

Install cavity-wall insulation – Insulating your walls is a more invasive way of making your property more energy efficient, but the results can be felt in your fingers and toes as well as your wallet, instantly.  Insulating your walls harnesses the heat generated in the home and may be of particular benefit to those people who own period properties.  As this job is involved it is best to hire a professional specialist., preferably one that is a qualified with the Cavity Insulation Guarantee Agency (CIGA).

Draught-Stripping – Installing draught stripping, little strips of foam meant to block the gaps around windows and doors will significantly reduce cold air sneaking into your home and will retain the heat and ultimately saving you money.  This option is less of an investment than cavity-wall insulation costing around £50-£80 depending on whether you install it yourself or not.  Installing these simple measures can save up to £20 per year for a gas-heated semi-detached house.

Replace your boiler - Replacing an out of date boiler with a newer model helps the environment and reduces your bills.   Although the government boiler scrappage scheme has now come to an end, there are trade-in incentives on the market.  Visit the Energy Saving Trust site for specific details on what sort of schemes are available: http://www.energysavingtrust.org.uk/

Loft Insulation –Insulating your loft is much easier and less expensive way to prevent heat escaping from your home.  To get the most of your money, boost the thickness of your loft insulation to between 250 and 300 mm.
Pipe Cladding – By insulating external pipes heat loss can be reduced to save you money, but the bones factor is that such measures also reduce the risk of the pipes freezing if a property is left unoccupied during a cold period.

For Tenants and Home Owners:

For tenants will be unable to make permanent changes to property without the landlord’s consent or those home owners who don’t have the time or money to invest in more serious energy efficiency measures, some of these simple solutions may help.

Draught excluders – buy or even make your own draft excluder to sit at the bottom of a door or window to prevent cold air from entering the home in gaps under doors and windows. For those who are handy with a needle and thread, click the link to find a few easy draught excluders that you can make yourself.

Energy efficient blinds – cover the whole of your windows with energy efficient blinds.  A fifth (20%) of all the heat lost from a home escapes through window panes and frames, but if you can’t install double glazing, then using energy efficient blinds could be the solution.  For example, Apollo's new Duette Blinds can cut heat loss and gain by 34%, meaning that your home will be warmer in winter and cooler in summer.  Click the link to read more about these money saving blinds. 

Wear more layers – This may seem like an obvious solution, however, with modern heating some people have the expectation of being able to wear bare feet, shorts and a t-shirt around the house all winter long.  However, one option is to simply wear warmer clothes.  Adding on some warm slippers and cardigan may allow you to turn your heat down and save you money.  Then pile some warm blankets on the bed to keep cosy at night.  Often the best solutions are the simplest.

Request to see The Energy Performance Certificate for a Property Before Renting or Buying – Every property offered for sale or rent in the UK is required to have an Energy Performance Certificate.  This document includes two charts, recording the Energy Efficiency of the Home and the Environmental Impact of the home.  These charts read much like the charts found on home appliances that can be consulted to see what the running costs of the home might be. 

Consider buying or renting a more modern property - Keep in mind that if you love the charm of period property, older homes were originally built with little or no insulation and unless previous owners invested in energy efficient measures a period property is likely to cost you more to heat.  Studies by the Energy Saving Trust found that in an average year, a family in a three-bedroom Victorian semi will pay £250 more in energy bills than a family in a three-bedroom new-build semi.  So when choosing a property you need to decide if you want period charm more than cheaper heating bills.  Search through Northfields listings of properties to let or properties to buy to find a property that has the charm and/or warmth factor you are looking for, just click the links.

There are lots of option for keeping your home toasty warm this winter while keeping the cost of heating down.  And they don’t all cost the earth.

If you are looking for a new property to rent or buy this winter, call us on 0208 840 6666 or register your details online to make sure you about hear new instructions as soon as they become available.

Northfields Named Best Agent in Greater London 2011 By Home Sale Network!

Northfields are delighted to announce that we have won Home Sale Network’s prestigious 2011 Best agent Greater London Regional Award at the Network’s 18^th Annual Conference, held at the Park Plaza Riverbank Hotel, London on Friday 18 November.

The annual prize gives the winning Network member the title of ‘Best Agent in the Greater London Region’ and is awarded on a number of criteria measuring the agent’s overall contribution to Home Sale Network, their ability to demonstrate customer satisfaction, a strong market share locally and
a proven record of helping relocating buyers move both in and out of the area.

Northfields received the award at the Conference’s glamorous black tie Awards Dinner. The evening was hosted by Alexander Armstrong, one half of comedy duo Armstrong and Miller and regular host on BBC panel show, Have I Got News For You, who presented the award.

Richard Palfreeman, Managing Director comments, “For Northfields to have been firstly nominated as the best agent in Greater London by Home Sale Network is recognition of the hard work and combined effort of all our members of staff. However, to have won the award is absolutely fantastic and we are proud and delighted to be Greater London’s best Network estate agent.”

Richard Tucker, Home Sale Network’s Managing Director said, “Home Sale Network is a national network of independent estate agents across England, Scotland and Wales. As members of the Network, our agents promote their individual brand, but they are also encouraged to promote the Network as a whole. The 2011 Best Agent Greater London Regional Award is significant because
it recognises the agent that has most successfully demonstrated their customer service, independent business initiatives, local market share and their commitment to the Home Sale Network principles.”

Ask the Agent: How Can I Get a Mortgage When I Am Self-Employed?

With the Bank of England’s Monetary Policy Committee having voted once again this November to keep the base rate on hold at its historic low of 0.5%, mortgages should be more affordable than ever.

But the MPC’s decision does arise from a struggling economy, even backed up with £275bn quantitative easing measures as decided at the October 2011 meeting. 

However, one interesting and optimistic side to recessions and economic uncertainty, is that periods such as this usually see a rise in entrepreneurialism.  Those people who have lost their jobs start a new small business rather than searching for a new job.  Often, with positive life changing effects for the new business owner.

However, one downside does emerge from such an exciting new venture – it can be harder to find a mortgage when you are self-employed. 

Hurdle No. 1 – Proving Trading History

According to an article on the Mortgage Advice Bureau website, reporting on research by Kensington, the ability to provide adequate trading history is a block to accessing mortgage financing.  This factor is particularly problematic if the new business was started in response to the credit crunch and there may be no trading history. 

In a survey of 619 intermediaries (that is, mortgage brokers and other independent representatives), 42% said proving trading history is the biggest barrier for self-employed borrowers.

Charles Morley, head of sales at Kensington, says: “While many successful small businesses emerge from recession, it is not unusual for a high street lender to ask for three years’ trading history.

Hurdle No. 2 – Complex Income Structures

Ask any self-employed person and they will tell you that it is wise to have multiple income streams so that if one dries up you can always fall back on another.  Diversification is vital to ensure that you don’t put your proverbial eggs all in the same basket.  However, this again, can prove to be an obstacle when trying to apply for mortgages.

In the Kensington findings, 23% of mortgage intermediaries flagged complex income structures as a difficulty in proving to lenders that self-employed people were able to pay the mortgage. 

Morley from Kensington points out: “And whereas the self-employed will often have a complex income structure from more than one source, automated decision making systems (used by mortgage lenders to evaluate mortgage applications) take a more black and white stance on affordability.”

Hurdle No. 3 – Standard Scoring System

When you apply for a mortgage, the lender will put each applicant through a standard credit scoring system.  Unfortunately, many intermediaries, amounting to 15% of surveyed brokers said that self-employed circumstances do not fit standard credit scoring systems, making it difficult to proved credit worthiness.

Hurdle No. 4 – Self-Employed People’s Perceptions

12% of the mortgage brokers asked felt that the self-employed’s own perception of how difficult mortgage finance is to obtain is the greatest obstacle.  While many people see the hurdles that self-employed people have to overcome to secure financing, many don’t realise that there ways to overcome these issues. 

Self-Employed Solution

Being your own boss does not mean that you have to sacrifice your own home. 

As Charles Morley, head of sales at Kensington, says: “High street lenders are often unable to consider the more complex circumstances of a customer who owns their own business, but intermediaries have access to lenders, like Kensington, that are able to take an intelligent approach, with decisions made by experienced underwriters.”

Independent mortgage brokers are not limited to one set of mortgage products like a high street bank would be.  Your broker can look across the entire market and pick a mortgage lender who is more likely to award a self-employed person with the finance they need. 

Mortgage brokers will also know the ins and outs of mortgage applications and will be able to tell you how to fill out the application for a particular lender for the best chance of success.

Not only that, mortgage brokers often have access to special rates and deals that are not even available on the high street, in the end, making your mortgage more affordable.

According to Kensington’s research, the average mortgage intermediary receives six enquiries from clients who consider themselves to be self-employed each month.   This means that the average mortgage broker will have the opportunity to place, on average, over 70 self-employed mortgages each year.  That’s experience you can bank on.

To be referred to an independent mortgage broker who can give you no obligation advice on getting a mortgage call Northfields on 0208 840 6666 or request a referral via e-mail at sales@northfields.co.uk

Take Kirstie Allsopp and Phil Spencer Along to Your Viewings

After watching the dynamic house hunting duo Kirstie Allsopp and Phil Spencer on their popular Channel 4 program Location, Location, Location for 11 year and 16 series, most of us would love to take them along to each and every house viewing.  But now you can make use of their expertise, without actually having to do your house hunting in front of the camera.

How?

With Phil and Kirstie’s new iPhone and iPad app.  The app allows you to take Kirstie and Phil along in your pocket.

The House Hunter App is a joint venture between BBC Worldwide and Phil and Kirstie’s production company Raise the Roof. It is downloadable (£2.99) for iPhone, iPad and iPod Touch from the iTunes store.

In a recent article in the Telegraph, Kirstie Allsopp explained how the app works.

“The idea is that this app will hold the buyer’s hand the whole way, from the moment they first decide they want to move to when they make their first cup of tea in their new home.”

How exactly does the House Hunter App do that?

First, it will ask exactly what features you are looking for in a new property, much like an estate agent would do.  The app will then go onto your budget coming up with a calculation of what you can actually afford.

The app includes little tips like Phil and Kirstie’s tips for sucking up to estate agents, although the telegraph refers to this as “maximising the co-operation of estate agents” by bringing them fresh-ground takeaway coffee.  As estate agents we can’t really argue with the sentiment, but as a industry award winning estate agents we can safely say that you will still get award winning service with or without the coffee at Northfields Estates.

As you close in on completion, the app even gives the user detailed dos and don’ts for the big moving-in day.

The app is more than just list of dos and don’ts however.  Phil and Kirstie actually appear on screen to provide reminders and pep talks.

Perhaps the most fun sounding is the “Kirstie warning” device which is activated whenever you download details of a property above your price range. That would be Kirstie’s version of “keeping it real”, presumably as well as on budget.

Just like on their show, Phil and Kirstie will be “quite bossy in places”.  As Kirstie explains, “That’s the whole point”.  After you’ve viewed a certain number of properties in-person, the pair will start to nag you with a reminder that you might be being a bit too picky and overly fixated on your original wish list of property features.

The team at Northfields knows from 20 plus years of experience that you can’t always get everything that your heart desires, but we can certainly try to get to as close to perfect as we can.  It will be Kirstie and Phil’s job to remind you to be realistic.

Other High Tech Ways to Search for Property

Having Phil and Kirstie encouraging you from your Iphone is just one of the newest technological ways that you can search for property.

Increasingly, estate agents, like Northfields Estates are finding more convenient ways for you to get information on the properties you are looking for.  In addition to the now standard online registration, e-mail notifications of new instructions and online listings, Northfields has taken on some of the newest innovations in selling property.

For example the use of QR codes.  QR is short for Quick Response and is the moniker for those square codes popping up on posters and adverts. You can see a QR code in action on one of Northfields websites promoting the launch of six luxury 1 and 2 bedroom flats in Northfield Road, just click the link and see the QR code at bottom right.  To use the QR you need a QR reader installed on your smartphone, then, hold your smartphone against the square bar code and you are automatically linked to the details for that property.  So no more scrabbling for a pen to write down a property’s details.  Just scan and you’re reading the relevant info, seeing floorplans, maps and even booking your viewing online.

Northfields are even offering audio and video tours for properties, like this one for a gorgeous 5 bedroom property in Bernard Avenue, Ealing:  http://www.bernardsavenue-northfields.co.uk/page6.html. Instead of just reading a static set of details you can sit back and see and hear the highlights of that particular property.

Nothing Beats Being There

Even with all the wonderful bits of technology that save time and hassle, as Phil and Kirstie point out, nothing beats seeing a property in real life.  The bricks and mortar may look totally different when seeing in person rather than in pixels.

The article in the Telegraph reported that Kirstie would not have been impressed by her current London home had she not seen it with her own eyes.  Kirstie explained, “Take this house,” gesturing at the surprisingly rectangular structure where she lives in Notting Hill, west London. “If I’d just seen photographs and a floor plan, I would have dismissed it as being like a glorified railway carriage and never dreamed of buying it.

“It was only when I actually came here that I was able to appreciate the wonderful way in which the windows slide back to reveal the lovely communal garden.

“You should never underestimate the physicality of a property. Houses are living, breathing spaces. You need to stand there and see how the light falls, feel how the air flows, understand how you could transform the whole place just by knocking through one wall.

“Quite often, I meet people who say they’ve looked at 100 properties when the fact is, they haven’t actually been to view them. They’ve just seen them on the internet. And that simply doesn’t count.”

Our negotiators at Northfields have had experience of this sort of thing.  Sometimes a prospective buyer will dismiss a property after driving by.  However, sometimes the exterior of a property is deceiving.  We’ve marketed some properties that look downright pokey from the outside by are in reality incredibly spacious and stunning in the interior.

Other aspects that sometimes blind people to a property’s true potential are cosmetic and can be easily fixed.  So maybe that obnoxious purple paint in the bathroom is turning your stomach or the shag carpet in the reception is the stuff of nightmares, but are those surface faults hiding the property of your dreams?  What would that property look like with wood floors and neutral walls?

Sometimes you just need to see it to believe it.

As Kirstie wisely points out, “...you can only get so far on a first impression, be it on a computer screen, a mobile phone, or even a photograph in a glossy estate agent’s brochure. I’ve never seen one that made a place look better than it actually is.

“I don’t know if it’s feng shui or atmosphere or whatever you choose to call it, but the only way you can be sure about buying a place is to visit it. You can be equipped with all the facts, floor plans and flowcharts, but, in my experience, the clinching factor in any property purchase is human instinct.”

So by all means, make use of all the technology.  Register online to get notifications of the all the latest new instructions.  Scour the online listings of properties for sale.  Even download Phil and Kirstie’s House Hunters app.  But remember to get out there and see the properties for yourself.

Seen something on the Northfields Property Listings that you simply must see?  Call Northfields on 0208 840 6666 to schedule your viewing – no freshly ground coffee required.

Northfields Nominated for 2011 Regional Award

Local independent estate agent Northfields from West London is pleased to announce that the company has been nominated by Home Sale Network, a national network of independent estate agents, for the 2011 Regional Award – Greater London.

The winner will be announced at the Awards Dinner of the 18th Annual Home Sale Network Conference, being held at the Park Plaza Riverbank Hotel, London on Friday 18 November.

Richard Palfreeman said, “For Northfields to be nominated for the 2011 Regional Award - Greater London is recognition of the hard work and combined effort, commitment and enthusiasm of our entire team.”

Home Sale Network’s 2011 Regional Award - Greater London is an annual prize for the agent that has consistently made the best overall contribution to the Network throughout the year and offers nominees the chance to become the Network’s ‘Best Network Agent in Greater London’. Criteria for nominees include regional meeting attendance, monthly property survey returns and regional marketing initiatives.

Richard Tucker, Home Sale Network’s Managing Director commented, “Home Sale Network is a national network of independent estate agents, made up of 12 regions across England, Scotland and Wales. All members are encouraged to work together to promote the Network as a whole as well as their individual brands.
“The 2011 Regional Award - Greater London recognises the agent that has been most successful at demonstrating outstanding independent business initiatives and embracing the Network principles.”

For further information, please contact Nick Devonport, Northfield Estate Agents, 0208 740 8833 or email nick.devonport@northfields.co.uk

Five to View: Family Houses for Sale in Popular School Catchment Areas

Ask any parent and they will tell you that one of the major factors affecting their choice of home will be the school catchment area that it is situated in.  Here are just 5 properties available for sale through Northfields Estates, all in popular school catchment areas and to suit a range of budgets.

5 Bedrooms - £720,000

An exceptional 5 bedroom family home located within the Fielding School Catchment and on a very popular road moments from Northfields Avenue itself with all the various shops, restaurants and Northfields (Piccadilly line) tube station. Beautifully extended and finished to a high level the property offers a through reception with additional dining area, kitchen with doors to garden. Three bedrooms, one of which is being used as a study, and the family bathroom are located on the first floor while the loft has been wonderfully developed to offer an additional bathroom and further two bedrooms.

View an Audio and Video Tour of this Property: http://www.bernardsavenue-northfields.co.uk/page6.html

Where:  Bernard Avenue, Ealing W13

The School Catchment Area:  Fielding Primary School - click the link to review this school's Ofsted results

To view the individual website for this property please go to www.bernardsavenue-northfields.co.uk

4-5 Bedrooms - £649,000

A four/five bedroom, two bathroom family house, boasting generous living accommodation with a southerly aspect rear garden and off-street parking. The accommodation which has been recently refurbished to the highest standard consists of 4/5 bedrooms 2/3 reception rooms, modern fitted kitchen, downstairs wc, ensuite bathroom to master bedroom and family bathroom. Ideally located in a sought after residential street and in the highly desirable North Ealing and Montpelier School catchment areas, the property is just a short walk from from the shops and restaurants of Pitshanger Lane, however the extensive and varied range of shopping, restaurant and transport facilities of Ealing are also in close proximity. Internal viewing is a must to appreciate the size and quality of accommodation on offer.

Where: Castlebar Park, Ealing W5

The School Catchment Area: North Ealing Primary and Montepelier School catchment areas - click the links to review these schools' Ofsted results.

Click on the link for more info on this 4-5 bedroom property for sale in the North Ealing and Montpelier School Catchment areasincluding more photos and information or to book your viewing online.

3 Bedrooms - £475,950

This three bedroom house is close to village atmosphere of Pitshanger Lane within the hugely sought after Brentham Garden suburb. This outstanding prorperty includes a through reception room, fitted kitchen and secluded garden. Offered with no onward chain. Parents will be pleased to know that this property is situated in North Ealing Primary School catchment area.

Where: Brunswick Road, Pitshanger, Ealing W5

The School Catchment Area: North Ealing Primary catchment area - click the link to review this school's Ofsted results.

Click on the link for more info on this 3 bedroom house for sale in the North Ealing Primary School catchement area in the Pitshanger area of Ealing including more photos and information or to book your viewing online.

4 Bedrooms - £415,000

A well presented 4 bedroom semi detached family home set over 3 floors and enviably backing on to The Brent Valley Golf Club Course. The property consists of large reception room, modern fitted kitchen/dining room open plan to conservatory, four sizeable bedrooms, family bathroom and a shower room. Situated on the South side of one of Hanwells most popular tree lined streets this property is served by a few local shops, while regular bus services provide immediate availablity into Ealing and Greenford. Hanwell Main Line Station is also within easy reach for speedy access to The City and Heathrow and the property also falls into the catchment for Mayfield, Hobbayne, Drayton Manor and St Josephs RC Schools. The property offers spacious accomodation throughout, is offered to the market with no upper chain and early viewings are highly recommended.

Where: Studland Road, London

The School Catchment Area: Mayfield Primary, Hobbayne Primary School, and St Josephs RC School catchment areas - click the links to review these schools' Ofsted results.

Click on the link for more info on this 4 bedroom house for sale in West London including more photos and information or to book your viewing online.

 3 Bedrooms - £549,000

A great mid-terraced family home overlooking Pitshanger Park and situated moments from North Ealing Primary School. In need of modernisation and with the potential (subject to planning permissions) of a loft conversion this could be a truly fantastic family home. The property currently offers front reception, rear reception with doors to garden, kitchen, three bedrooms and bathroom. Further benefits include a balcony across the entire rear of the property and a garden in excess of 50’.

Where: Meadvale Road, Pitshanger, Ealing W5

The School Catchment Area:  North Ealing Primary School catchment area - click the link to review this schools' Ofsted results.

Click on the link for more info on this 3 bedroom house for sale in the North Ealing Primary School Catchment area including more photos and information or to book your viewing online.



And that's not all....

Don't see your dream property listed here?  Search the rest of the properties that Northfields Estates currently has available for sale by clicking the link.

Top Tip:

Remember that you are not alone in searching for a property in the most sought after school catchment areas.  At Northfields we find that properties situated in popular school catchment areas typically sell very quickly, so if you see a property that you like, act quickly and book your viewing right away.  Or better yet, register your details with Northfields, that way we can call you as soon as a new property in your desired school catchment area comes to the market.  Call us on 0208 840 6666 or click the link to register your details online so you don't miss out on the perfect property.

Some Good News in October’s Property Market

There were some positive indicators for the property market in Rightmove’s latest House Price Index Report this fall. 

First of all, there was a 2.8% monthly rise in new sellers’ average asking prices across the nation with 4.7% rise in asking prices in London and the South.

And secondly we experienced a two year high in mortgage approvals.  

Although there is still a great deal of uncertainty in the global financial markets, particularly with the ongoing concerns in the Eurozone, those of us who live in the more affluent south of England have “some grounds for hope of market recovery” as Miles Shipside, director of Rightmove put it. 

Shipside also commented that: “Wider access to mortgages and rising asking prices are early signs of increasing demand, giving home owners some grounds for hope of a market recovery. However, the reality is that there is further evidence of the two-tier twist which is dogging the return to more widespread liquidity in the housing market. While those in the affluent south may have cause to celebrate their prices being well up on this time last year, prices in the north continue to go backwards, leaving the widest price gap ever. For the average asking price of a property in the south you could now buy two average properties in the north and still have enough change left to buy new carpets and curtains.”

The Highs and Lows of Higher Property Prices
For those people who do own property in London or in the South East, South West or East Anglia, the idea that their properties have increased in value even further  is welcome news.  However, for those people who want to buy property, whether for the first time or to move up the property ladder, these record asking prices are not exactly of benefit. 

You would be forgiven for thinking that the economic downturn should have led to reduced property prices.  And certainly, in the North that has been the case where asking prices for properties have reduced by 9.6%.  However, four years after the start of the credit crunch property prices for homes new to the market have risen by 5.4% in the south. 

Shipside adds his thoughts by sayinmg, “Existing home-owners in the highest priced regions are seeing the value of their bricks and mortar increase even further, though it is at the expense of buyers who are faced with the highest ever asking prices. Those trading up will benefit from already being on the housing ladder, though the gap to trade up to the next rung is a bigger financial leap when prices rise like this and desirable homes are in short supply. Those who are not property owners, such as first-time buyers or those taking an ownership break in the rented sector, will either have to spend more or compromise on what they can afford”.

What is buoying the market up in the South?
To ensure activity in the property market, you need buyers who have:
-  access to finance through the ability to raise a substantial deposit
- a secure job to fund repayments

The south of England has far more people who meet these key criteria and these variables are underpinning the market in London and the south.

Added to that, if buyers perceive prices to be rising, people tend to act more quickly to complete their property purchase in a bid to ensure that their dream home is not priced out of their range.  This effect is at least partly responsible for the higher volumes of sales in the south.

The Mortgage Factor
In August, the Bank of England’s mortgage approval figures stood at 52,410.  With the figures adjusted to account for seasonal variances, mortgage approvals were at their highest level since the end of 2009. Rightmove’s report points out that “While still half the average number seen from 2000 to 2006, it is worth noting that they are nearly twice the 26,333 seen during the trough in April 2008.”  Other factors which have seen mortgage approvals rise included the continuing record low base-rate and lenders competing amongst themselves to attract deposit rich borrowers.

Trading Up
Home owners with adequate equity will have plenty of opportunity to move up the property ladder.  Activity levels for those trading up to a bigger or better property will likely increase due to increasing prices which will motivate buyers to act sooner rather than later. 

London home owners in particular will enjoy the biggest growth in equity and should be feeling positive about trading up. However, as Rightmove points out “there are signs that the distance to the next rung of the ladder may be getting too high for some in the capital as the number of new sellers coming to market is 13.9% down compared to this time last year.”  Some London sellers may find that they need to consider slightly less pricey areas to get the type of property that they really want.  A smart move would be to look at areas that are thought to be up-and-coming or that are experiencing a certain degree of regeneration, such as Brentford or Hanwell.

Shipside of Rightmove concludes: “Low rate mortgage deals will only benefit those with the requisite high deposits, and at the moment the best equity growth has been seen in the London market. With record prices in the capital, some will be priced out of the best areas and will either have to stay put or look for value further afield.”.

Five to View: One Bedroom Properties for Let in Ealing

The Guardian just reported that rental properties are being snapped up even quicker than ever. The Guardian pointed out that "couples under 35-years-old remain the largest proportion of tenants, so the demand for one- and two-bedroom properties remains very high, with most available properties snapped up extremely quickly."

Ealing has always been a very popular area, so it stands to reason that one bedrooms in this area will not remain on the market long, so if you see a one bedroom property listed here that you love, make sure to call our Northfield Avenuie office on 0208 567 6660 and booking a viewing now.

Here are just five properties in Ealing that Northfields Estates currently has available to let.

1. Newly Built One Bedroom House


Be the first to live in and enjoy this amazing newly built one bedroom house situated on Northfield Avenue. The property features a stunning open plan living area and kitchen. Added to that there is a downstairs cloakroom plus utility area and, of course, the one double bedroom and en-suite bathroom can be found on the first floor.The property is within walking distance to the Piccadilly line and you couldn't ask for a location more convenient for the shops and restaurants of Northfield Avenue.

The Property for let: one bedroom house

Where: Northfield Avenue, Ealing W13

The Price: £1,350 pcm

Click on the link for more info on this one bedroom house for let in Northfield Avenue in Ealing including more photos and information or to book your viewing online.

2. One Bedroom with Allocated Parking and a Gym



This stunning one bedroom apartment is situated in a private developement in West Ealing. The bright lounge boasts a south facing balcony and an open plan fully fitted kitchen. The double bedroom is of a good size while the bathroom is modern. One of the most attractive features of this property is that it also offers allocated parking and a gym for residents. The property is located near to West Ealing overground station which has trains into Ealing Broadway (Central and District Lines) as well as trains into Paddington and Heathrow, making travel very convenient.

The Property for let: 1 bedroom apartment

Where: Pershore House, Ealing W13

The Price: £1,300 pcm

Click on the link for more info on this one bedroom apartment for let in Ealing including more photos and information or to book your viewing online.

3. Sought After and Central Location


Our Ealing Broadway office is offering this spacious, light and airy one bedroom garden flat opposite Walpole Park and moments from Ealing Broadway. The large reception room has access to a small balcony overlooking the park. The kitchen is modern and separate with the large bedroom providing plenty of storage. The property further benefits from a garden and a garage. With Ealing Broadway station (Central, District and overground trains) a short walk away, along with all the shopping and restaurants of the broadway, the tenants of this property will be fortunate indeed.

The Property for let: one bedroom flat

Where: Mattock Lane, Ealing W5

The Price: £1,300 pcm

Click on the link for more info on this one bedroom flat in Mattock Lane in W5 including more photos and information or to book your viewing online.

4. One Bedroom for Under £1,000 pcm - with a prviate patio garden

This ground floor one bedroom flat has so much going for it, with a large double bedroom leading to private patio garden, plus an open plan kitchen and living area and a driveway to the frontage. While the features of the flat are certainly worth noting, the property's location also can't be discounted. Located close to the much sought after Pitshanger Lane and the busy Ealing Broadway, you can enjoy the best that Ealing has to offer - and all for under £1,000 per month!

The Property for let: one bedroom flat

Where: Templewood, Ealing W13

The Price: £875 pcm

Click on the link for more info on this one bedroom flat for rent in Ealing including more photos and information or to book your viewing online.

5. One Bedroom Flat with Private Balcony



If you like to spend your Sunday mornings with the paper, picture yourself in this one double bedroom apartment reading from the private balcony. Located within walking distance to Ealing Broadway and West Ealing's amenities, you won't have far to stroll to get that morning paper and a cup of coffee in the mornings. Added to that, tenants of this property can also make use of the resident's car park, video entry phone, and huge communal roof terrace. Within the flat itself there is a reception room with double doors leading to the balcony plus a separate modern fully equipped kitchen. The double bedroom boasts an ensuite bathroom with shower and a separate WC.

The Property for let: one bedroom flat

Where: Hartington Road, Ealing W13

The Price: £1,050 pcm

Click on the link for more info on this one bedroom flat for rent in W13 including more photos and information or to book your viewing online.

Don't see anything on this list that meets your requirements? Check out all the properties Northfields currently has for rent here.

How to not lose the property of your dreams - The news is currently full of the buzz about the hot rental market. And the big news is that there are too many people vying for a limited number of rental properties. Beat other prospective tenants to the punch by registering your details. Our negotiators will often phone to tell you about a property that has just become available before it even appears on the internet, but only if you're registered.

So beat the competition by registering today - call our award winning lettings team at our Northfield Avenue Office for properties in Ealing or other West London locations on 0208 567 6660 or click the link to register your details with our lettings team.