Northfields

Rightmove Reports Record Number of People Searching for Property

In the first 10 days of 2012, property portal Rightmove reported record levels of people searching for property.  Searches were up by 27% on figures for the same period of 2011, equating to 44 million property searches on Rightmove alone.  These figures don’t take into account other property search websites such as FindaProperty.com, Globrix or Zoopla.   

Does this mean the market will pick up?

The high levels of searches being done by potential buyers does not necessarily translate to those potential buyers becoming proceedable buyers.  While buyer interest is strong, it is more likely that property searchers are intensely researching the market.  Potential buyers are scouring property portals for many purposes including seeing what they could afford, how much they might be able to sell their own property for or to simply find to that one-in-a-million property that offers the best combination of value, potential, location or the “wow” factor.  In many cases, online house-hunters are looking through properties for a combination of all these reasons. 

Although many of these buyers will be constrained by the lack of mortgage availability, the surge in buyer interest does show there is a pent-up demand for many to move.

As the Rightmove report also comments:
“It also emphasises the fact that, were a larger number of mortgages available to the market, the interest, confidence and necessity to buy would lift the current muted sales transaction numbers from the virtual subsistence level of the last three years.”

Not enough properties on the market

Despite the fact that the number of searches for properties for sale is at a high, Rightmove has also recorded the lowest level of new supply per estate agency branch ever recorded by the property portal– an average of less than one new listing per branch per week.

That means there are more people searching for far fewer properties.

Miles Shipside, director of Rightmove shared his thoughts on the current market outlook: “Old records are being shattered as search activity is up by a staggering 27% on this time last year. Potential buyers and sellers are looking more often and researching more thoroughly. In areas where there is a lot of property up for sale, buyers are looking hard for properties that tempt them with something really special in terms of value, potential, location or quality of finish. If it doesn’t shout ‘special’ then they are unlikely to overpay for the privilege of buying an average property in these mortgage-constrained times. In locations where there is little stock for sale, they appear to have become online junkies, ready to pounce on fresh property coming to market to see if it will satisfy their housing need. This search-addiction is in part caused by each estate agency branches currently listing an average of less than one new property per week, an all-time low and around half of pre-credit crunch levels. The market is stuck in a low transaction volume pit that will be hard to escape from without the mortgage funding to satisfy what appears to be strong pent-up demand.”
 
Less Property Already on the Market

The shortage of property has also been compounded by the fact that there were fewer properties already available for sale during the same period in 2011.  According to Rightmove, the average level of unsold stock per estate agency branch sits at 66.  This figure is the lowest recorded by Rightmove since February 2010.
Rightmove states that the 36,433 properties coming to market this month across the country means that the average will sit at less than one new listing per estate agency branch per week. This number of new instructions represents half of pre-credit crunch levels.

Why the shortage of new property?

In a Catch-22 situation, sellers are being deterred by lack of choice of property for them to trade up to, lack of confidence in the market and the lack of readily available finance. 

How Will Property Prices Be Affected?

Rightmove reported in its last House Price Index that prices will be very much dependent on local conditions, referring to “micro-markets” which would dictate price.  Where demand is high, in areas with a good school catchment area for example, the shortage of property being offered for sale will buoy up new sellers’ asking prices in those locations.
January is often the beginning of the lead-up to a traditionally busy spring period for sales.  This period often sees a slight rise in prices.  Rightmove has already collected evidence of this with an increase of 1.4% in the first week of 2012.   Rightmove cautions that this upswing is obscured within the overall monthly price fall of 0.8%. In spite of the challenging market, year-on-year asking prices remain virtually unchanged, up by a nominal 0.4%, though with RPI running at 5.2% this represents a fall in real terms.

The Mico-Market Means You Need Expert Help

Shipside explains how micro-market conditions will affect sales: “The increased market fragmentation caused by the credit crunch means that success in selling now requires a very careful and complex micro-market analysis, rather than a wishful price-punt to see what happens. There can be hotspots and blackspots by property type within the same geographic location depending on local buyer confidence, demographics and their ability to obtain a mortgage, so doing your research and taking expert advice are critical. There will be upwards price pressure where the local market is short of a type or style of stock. In these areas, getting your property onto the market soon could be to a seller’s advantage given the strong upsurge in property search activity.”

If you want to take advantage of the record numbers of people searching for property, get your property on the market now.  Start by getting some free, no obligation expert local advice from Northfields, your multi award-winning agent.  Call  Northfields now to arrange your free valuation on 0208 840 6666 or request your property valuation online by clicking the link.

Five to View: 3 Bedroom Properties for Sale in West London for Under £350,000

Whether you are looking for a family home, more space or perhaps you are looking for an investment property, here are just 5 properties available for sale through Northfields Estates, all with three bedrooms and all for under £350,00.

1. Cloister Road - £330,000 - A great investment property

 
An excellent opportunity to purchase a 3 bedroom apartment set in a cul-de-sac location close to North Acton Playing Fields. Available with no onward chain, this property, arranged over 2 floors, represents a fantastic chance to get onto the property ladder or buy to let. With this property you could achieve a rental value of £1700 pcm (£20,400/ annum). The property is within a mile of both North Acton and West Acton tube stations, making this property attractive for tenants and owner/occupiers alike..

The Property for sale: three bedroom flat

Where: Acton, W3

Click on the link to see more photos, floorplans and information on this three bedroom apartment for sale in Acton or to book your viewing online.

2. St. Paul's Close - £319,950 - Opportunity to Add Value

 
Ideally located close to Ealing Common and Ealing Broadway, this three bedroomed end of terrace family home is offered to the market in need of some updating, giving the buyer opportunity to add value to the property.The property is comprised of generous reception rooms, kitchen/breakfast room, three sizable bedrooms, shower room, a separate WC and a private garden. St Pauls Close offers a fantastic location as it is within easy access of Ealing Broadway, which offers a wide range of shops, restaurants and bars and local transport links are available nearby from Ealing Common Station (Piccadilly and District lines) and Ealing Broadway Station (National Rail, Central and Distict lines). This property is offered to the market chain free, making it an attractive buy.

The Property for sale: three bedroom house

Where: Ealing, W5

Click on the link to see more photos, floorplans and information on this three bedroom house for sale in W5 or to book your viewing online.

3. St. Andrew's Road - £339, 950 - Charming Period Cottage

 
A charming two bedroom period cottage located in this much sought after peaceful cobbled street in the heart of Olde Hanwell.  This characterful Victorian cottage offers spacious living accommodation including two reception rooms, fitted kitchen, family bathroom, two double bedrooms and further room currently being used as a bedroom. Further benefits include a pretty private rear garden. The property is ideally situated for pleasant canal side walks, plus you can enjoy the good local pub, the highly regarded St. Marks primary school catchment area, local shops and bus services, along with Boston Manor Piccadilly line station.

The Property for sale: three bedroom cottage

Where: Olde Hanwell, W7

Click on the link to see more photos, floorplans and information on this 3 bedroom period cottage for sale in W7 or to book your viewing online.

4. Valetta Road - £339,950 - In the Popular Wendell Park Area

 
A 3 bedroom garden flat located on the popular Valetta Road close to Wendell Park. Benefits include a private entrance, rear garden, kitchen with space for a dining table and a good size reception room with a bay window. This property is available with no onward chain.

The Property for sale: 3 bedroom flat

Where: Shepherd's Bush, W12

Click on the link to see more photos, floorplans and information on this three bedroom flat for sale in W12 or to book your viewing online.

5. Ellesmere Road - £299,950 - Priced to Sell

 
A three bedroom first floor conversion flat with a private balcony which benefits from light and airy accommodation and the use of a communal garden. Briefly comprising a 14ft reception room, modern shower room, fitted kitchen, 2 double bedrooms and a 3rd bedroom. Located approximately half a mile from Turnham Green and the amenities of Chiswick High Road, this is an excellent opportunity to purchase a property of good size, in a well regarded location at a price to sell..

The Property for sale: 3 bedroom conversion flat

Where: Chiswick, W4

Click on the link to see more photos, floorplans and information on this 3 bedroom flat for sale in Chiswick or to book your viewing online. 

If you are trying to beat other buyers to the best priced properties, we recommend that you call us on 0208 840 6666 to register your details so that we are sure to call you as soon as new properties become available. Often, family homes and investment properties sell more quickly than others, particularly if they are well priced, so be sure to register to avoid missing out. If you aren't able to call us to register, make sure to click the link to register online now.

First Time Buyers Expected to Be at Pre-Credit Crunch Levels in London in 2012

Rightmove released its Consumer Confidence Survey just before Christmas.  This report surveys the public and takes the temperature of would-be house buyers in a bid to guage what state the market might be in in the near future.

The latest report from Rightmove contained some dire news for the rest of London, but some extremely exciting news for Londoners.

The over-riding thrust of the Rightmove report was that "First-time buyers are to remain on the ‘endangered list’ in 2012".  Of the respondents who said that they had an intention to buy in the next 12 months only 23% fell into the first time buyer category.  This figure is down from 26% a year ago, meaning that first-time buyers will remain an endangered species in 2012. 

It is believed that for the market to thrive, 40% of all buyers should in fact be first time buyers.  These percentages keep the market moving and buoyant.

Certainly, if you were hoping to sell your first home and make your first move up the property ladder, this news would be quite unwelcome.  But here is where the figures get really interesting.

In London, the percentage of people intending to buy their first home was 41.9%.  This is slightly over the required number to keep the property market moving and far outpaces the rest of the country.

Who are the first time buyers in 2012?

The average age of those who plan to make their first property purchase was reported at 32 years of age.  However, there are many in the 35 plus age bracket who still find themselves renting without much prospect of moving on.  

A whopping 56% of the surveyed first time buyers are expecting to have a £20,000 or more deposit for a
property.

How Do You Attract a First Time Buyer?

According to Rightmove's survey 61% of would-be first-time buyers think property prices in their local area are above what they consider to be fair and reasonable.  So it stands to reason, that pricing your property competitively will make your property stand out from the crowd and will mean that you will be able to achieve a quicker sale and move on to bigger and better things.

Striking a Balance

Of course, if you are looking to sell your first home so that you can trade up, you want to strike a balance between achieving a quick sale and getting the most you can for your property.  Here's how to do it:

1.  Arm yourself with a bit of research.  What price would make your property stand out in a crowded market place?  Search property listings for properties similar to yours.  Try and think like a buyer.  Would you want to view the property listed at £249,950, below the £250K stamp duty level?  Or would you rather view the property that is £255,000?  Also remember that most property websites allow you to search for properties within a certain price range, so if you keep your price within that price range, rather than just exceeding it, you will get more hits, therefore more viewing, and more offers.

Search the properties Northfields currently has for sale to get an idea of what properties and prices you might be competing with. 

2.  Use an expert.  Not everyone sees estate agents as being your friendly local property expert, but that is exactly what they can be.  Remember that estate agents want to sell your property quickly and for the best price we can achieve ,just like you do.  However, not all agents are created equal, so make sure to choose an agent who is backed by regulatory bodies such as the Property Ombudsman and the National Association of Estate Agents (NAEA).  Agents, like Northfields, who belong to such industry organisations are voluntarily part of the membership and are expected to fulfil certain standards of professionalism which will give you more peace of mind.  Also look for award winning agents, who will have been recognised as the best in the business by property experts.  Again, Northfields is constantly striving to be the best in the business and is regularly recognised with awards.

Valuations are free from Northfields and there is no obligation, so you can take advantage of our expertise and award winning knowledge to find the right balance between a quick sale and getting the best price possible.  

Arrange your free, no obligation valuation now by calling Northfields on 0208 840 6666 or click the link to request your free property valuation online.  

Planning on Buying Property in 2012? What You Need to Know

On theBest of Ealing website, Northfields shared some tips for selling your property in 2012. Based on some predictions from property website Rightmove.co.uk, 2012 looks set to be a year of what Rightmove is calling “micro-markets”, meaning that house prices will be dependent on the very specific conditions in your local area.

Because of these micro-market conditions, sellers are advised by Rightmove to depend on the local expertise of a trusted estate agent and to be aware of the current status of the property market in their area in order to  get their property sold. 

Like sellers, buyers will need to be aware that micro-markets will mean that conditions and prices will vary widely depending on the type of property and area where their house hunt in centred.  Buyers may find that they have very little choice of properties, or an over-abundance of choice. Some properties may be listed at bargain prices while others may seem over-priced.  For example, a family house in a very sought after school catchment area may fetch a higher asking price and may also get snapped up very quickly, while other properties have to be priced just right to even attract a viewing. 

Miles Shipside, CEO if Rightmove explains the current market: “It is clear that in these turbulent times the UK housing market is made up of many fragmented micro-markets that are performing very differently. Those that are involved in buying or selling next year need to understand their local market dynamics to help them deliver the right recipe for success. That will include gauging under- or over-supply of property types, buyer demographics and mortgage profiling, unemployment concerns and exposure to public sector cuts or the likelihood of external investment”.

Housing shortage

One thing buyers may want to keep in mind that currently, the UK is experiencing a real shortage of housing.  Fewer new homes are being built, but the population keeps rising.
Of course, the government has put in plans to ease the difficulty and red tape involved in getting planning permission as well as set in motion a plan to insure lenders against loss in order to get them lending more. However, neither of these plans have really been put into effect yet and so it remains to be seen if they will be effective in kick-starting the market. 

Added to that, if the Eurozone economy worsens and causes widespread unemployment, we may see more European workers immigrating here to look for work.  This may put even more pressure on the dwindling housing supply, especially in London..

So with so much demand and very little supply Righmove is predicting that house prices may not fall.  It is estimated that newly listed houses will rise by circa 2%, although Rightmove points out that “this national average will vary in the many local micro-markets”.

Rightmove expects that “the number of properties coming to market will be marginally below the 1.24 million recorded in 2011. This anticipated decline reflects the fall-off in sellers coming to market seen by Rightmove in recent months. It means that new seller numbers will be about a third down on the pre-credit crunch levels in 2007. The shortage of new sellers in some locations, and improving investor yields on rental properties, will help underpin prices and stave off a price collapse except in exceptionally adverse market conditions.”

This advice was quite different from some expert opinions, which felt that prices may fall in 2012 and it might therefore be advisable for buyers to wait to see if prices dropped.  The question is, what if you wait and prices rise?  Or what if prices do drop, but because of the reduced liquidity in the economic market (for example, due to the possible collapse of the Eurozone), you are unable to secure a mortgage?

First Time Buyer Numbers Down

Anyone who follows the news will know about the lack of mortgage financing that is available.  Large deposits are still being required and lenders continue to lend to only the most credit worthy borrowers.  Sadly, this does leave most first time buyers locked out of the market, unless their circumstances have allowed them to amass a large enough deposit.

It is expected that this method of financing will continue into 2012, meaning that there will be few first time buyers looking for property. A recent Rightmove survey found that of those who intend to buy over the next 12 months just 23% will be purchasing for the first time.  In a normal and bustling market, first time buyers would make up 40% of the house hunting group. 

With such a low number of first time buyers actively buying, those sellers who need to sell their starter homes in order to trade up, will need to price their properties attractively to make their next move on the property ladder.  This means that first time buyers or buy-to-investors who are able to secure a mortgage will be in an advantageous position in the market.

Buy-to-let landlords will have the perfect conditions, with investment properties widely available for sale and rental properties hotly in demand and rents rising.

The Tide Could Turn

Rightmove’s admits that their predictions could be thrown off course if the Eurozone financial crisis deepens.  Should the worst happen in the EU, then mortgage conditions could become even more difficult. If that were to happen, the number of sales would likely drop slightly on the levels seen in 2011.

Rightmove’s Shipside wound up his 2012 predictions by saying that: “We have had a few years of testing the resilience of the bottom of the market, and we seem to have found a base level that represents an uneasy equilibrium between repressed buyer demand and affordability, and what sellers are willing or able to accept.

The questions is, if you need to move for work, to accommodate a growing family, to downsize or whatever your need might be, why wait to see if prices drop?  Why chance mortgage financing becoming even more difficult to get? 

Use the last two weeks of 2011 to view properties and put in an offer.  Northfields’s Managing Director, Richard Palfreeman has always bought his properties in November and December as sellers who continue to market their property at this time of year are motivated to sell and are more likely to take a competitive offer. 

Take a look at the properties Northfields currently has available for sale  by clicking the link or better yet, register your details online so that you can begin to schedule viewings right now.  If this is the time when property experts buy, what are you waiting for?   

Ask the Agent: I Want to Buy a Property With a Friend, But What Are the Pitfalls?

Housing Minister Grant Shapps wants more people to buy houses with friends.  He feels that will quick start the housing market. He wants lenders to offer 'mates mortgages', so called because young first time buyers can pool their resources and buy property together. You can read more about the Mates Mortgage idea by clicking the link.

Buying property with your mates or family members may indeed be a great way to get on the housing ladder, but it can also lead to some potential issues and problems.  Peter Bolton King, CEO of the NAEA (of which Northfields is a member), talks you through some of the areas you should consider before buying a house with friends in this video:

 

If you are considering buying a property with friends or family members, find out exactly how much you could borrow by seeking the free, no obligation advice of an independent mortgage broker.  Call Northfields today on 0208 840 6666 or e-mail us at sales@northfields.co.uk  and we will be happy to refer you to an independent broker who can look across the entire market and find the best "mates mortgage" for you.

 

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.

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.

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.”.