Posts

What’s wrong with Rightmove?

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There’s no question about it, buyers visit Rightmove and Zoopla/ because they provide easily-searched access to properties currently available for sale. Or do they?
Certainly property portals are efficient and estate agents have embraced them for many years as being an important addition to their marketing toolbox. On the surface, people no longer apparently need to register with an estate agent when looking for a property. However, those buyers who do register directly, tend to find they are offered properties before they appear on the portals.
We find that an increasing proportion of property sellers engage us to market their home using more discrete marketing methods than overt portal or other advertising exposure. There are several reasons for this – maybe they want to test the market or they have not yet announced the move to their friends and family. Perhaps they simply don’t want to risk overexposing their property and want to keep it exclusive, available only to pre-qualified …
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Great buy to let deal of the week with this one bedroom top floor flat situated in Danbury Crescent South Ockendon. This property will achieve a rental yield of 5.8%.



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 To see the full property details of this impressive property click on the link. lhttp://www.rightmove.co.uk/property-for-sale/property-63810685.html

If you want to know more about this property or development then why not give me a call  01708 851999 or pop in for a coffee and chat.
Regards
Paul

16.85% of Tilbury and Thurrock is Built on ... Building Plot Dilemma or Not?

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Well the fallout from the recent Budget is still continuing.  I was chatting to a couple of movers and shakers from the Tilbury area the other day, when one said, “There isn’t enough land to build all these 300,000 houses Philip Hammond wants to build each year”.
...and if you read the Daily Mail, you would be forgiven for thinking the Country was at bursting point ... or is it?
It was 60 years ago the first satellite was launched (Sputnik). All the Superpowers have used them to take high definition pictures of each other for decades, but now satellites and their high-powered cameras are being used for more peaceful purposes. The European Environment Agency (EEA) have been taking high definition pictures of the UK from outer-space to give us a focused picture of what every corner of the Country really looks like … and the findings will come as a surprise.
As my blog readers know, I always like to ask the important questions relating to the Tilbury property market. If you are a Tilbury la…

“Scruffy is the new Smart!”

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There is a lot of talk and numerous TV programmes about home improvement and the benefits of presenting your property at its best when the time comes to sell.
However, if you are thinking of selling and your property is not necessarily the prettiest in the street, or perhaps it is a bit tired, needs new carpets, redecoration etc, there’s no need to despair. Indeed, forking out thousands of pounds on improvements prior to a sale is not always the right thing to do and can even be money down the drain in some instances.    
The reason is that those very “Grand Designs” TV programmes that focus on home improvement have prompted many people to want to buy a property that actually needs work - so much so that we have a huge demand from buyers who are looking for a “scruffy” property! These people have found a confidence from watching others renovate property to the extent that they want a project of their own. 
Properties which are structurally sound, with no damp and a good roof and window…

“This year - Don’t Wait till Spring!”

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As we find ourselves in the middle of the dark winter months, some would suggest waiting until spring before putting your property on the market. After all, spring is traditionally associated with a time of change and this has always influenced the property market in the past.
However, it might be worth looking at this from another angle as serious buyers do not give up over the winter, and can even become frustrated by lack of choice as many properties are withdrawn for the season in the mistaken belief that nobody will be looking at this time of year.
You can take advantage of this temporary imbalance of supply and demand by being one of the properties that is actually new on the market! Whilst viewing activity may be slightly less frenetic, you can be assured that every viewing will count, as you will only be dealing with serious buyers. And serious buyers are usually less concerned by a sad-looking garden, or poor daylight. Indeed, cosy lighting and a real fire will often enhance y…

South Ockendon January 2018 Market Comment

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Is the property market up or is down? This month, more than ever, the answer depends on who you speak to.
For example, according to the Land Registry, a total of 850,281residential properties were sold during 2017, which is a clear 14.6% fall on 2016 (although still 30% up on the low-point of 2008). In respect of properties listed as flats, terraced, semi-detached or detached, London was hardest hit at -27% and so was Manchester, supposedly the new kid on the “where to invest” block at -24%.
However, the problem with relying on Land Registry data is that it is seldom a true reflection of what is actually happening today. The recorded data is published at up to a month after registration of completion, which can be up to two months after actual completion, which is usually a month after exchange, which is often two months after the sale was agreed. That’s a total of up to six months after the sale was agreed. That’s a long time when the market can turn on the slightest change in public …

My thoughts on the future of the South Ockendon Buy-To-Let Market

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I was recently reading a report by the Home website which suggested that hordes of landlords are selling their buy-to-let investments due to increasing burdens on them in the buy-to-let market. Their findings suggest the number of new properties that came onto the market nationally (for sale) jumped by 11% across the UK as a result.
Those increasing burdens include new tax rules coming in over the next 3 to 4 years and the announcement that all self-managing landlords (i.e. landlords that don’t use a letting agent to look after their buy-to-let property) will soon need to register with a compulsory redress scheme to resolve tenant arguments and disputes; as Westminster wants to heighten standards in the Private Rented Sector. 
Interestingly I was chatting with a self-managed landlord from Chafford Hundred, when I was out socially over the festive period, who didn’t realise the other recent legislations that have hit the Private Rented sector, including the ‘Right to Rent’ regulations wh…

South Ockendon Apartments are only 7.9% more expensive in REAL terms than 10 years ago

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My research shows that certain types of South Ockendon property are a little more affordable today than what the newspapers might make you think.
Roll the clock back to 2007 just before the credit crunch hit which saw South Ockendon property values plummet like a lead balloon and the South Ockendon property market had reached a peak with the prices for South Ockendon property hitting the highest level they had ever reached.  Between 2008 and 2010, South Ockendon property values lay in the doldrums and only started to rise in 2011, albeit quite slowly to begin with.
Nevertheless, even though property values have now passed those 2007 peaks, my research indicates that South Ockendon property, especially flats/apartments, are now more affordable than they were before the 2008 credit crunch.
Back in 2007, the average value of a South Ockendon flat/apartment stood at £121,522 and today, it stands at £162,727, a rise of £41,205 or 33.9%.

However, between 2007 and today, we have experienced infl…

Increase in Interest Rates to cost South Ockendon Home Owners £286.71 a year

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South Ockendon homeowners will be among those affected by the latest rise in the Bank of England interest rates. The first increase in 10 years; they have just been raised from 0.25 percent to 0.5 percent. This uplift comes as inflation hits a 51-month high of 2.9 percent whilst the national unemployment rate is at an all-time low of 4.3 percent. Interestingly, the Governor of the Bank of England has indicated that the interest rate is likely to increase again over the next couple of years, but Mr Carney said mortgages and savings would not be affected in the short term. However, look at all the big banks and just about all of them have increased their standard variable mortgage rate..  
The average South Ockendon mortgage is £114,685
I have to ask by how much South Ockendon homeowners (on variable rate or tracker mortgages) will see their repayments increase?
In the RM15 postcode there are 4,311 homeowners with a mortgage, of which 1,852 have a variable rate mortgage (the remaining have …

Youngsters unable to buy their first home in Tilbury – Are the Baby Boomers and Landlords to Blame?

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Talk to many Tilbury 20 something’s, where home ownership has looked but a vague dream, many of them have been vexatious towards the Baby Boomer generation and their pushover ‘easy go lucky’ walk through life; jealous of their free university education with grants, their eye watering property windfalls, their golden final salary pensions and their free bus passes.
If you had bought a property in Tilbury for say £12,000 in first quarter of 1977, today it would be worth £263,726, a windfall increase of 2097.7%.
But to blame the 60 and 70 year olds of Tilbury for that sort of rise seems a little unfair, with the value of the homes rising like rocket, I don't believe they can be censured or made liable for that. A few weeks ago, I discussed in my blog the number of people in the Tilbury area who have two or more spare bedrooms (meaning they are under-occupying the house). I see many mature members of Tilbury society, rattling around in large 4/5 bed houses where the kids have flown the …

“This year - Don’t Wait till Spring!”

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As we find ourselves in the middle of the dark winter months, some would suggest waiting until spring before putting your property on the market. After all, spring is traditionally associated with a time of change and this has always influenced the property market in the past.
However, it might be worth looking at this from another angle as serious buyers do not give up over the winter, and can even become frustrated by lack of choice as many properties are withdrawn for the season in the mistaken belief that nobody will be looking at this time of year.
You can take advantage of this temporary imbalance of supply and demand by being one of the properties that is actually new on the market! Whilst viewing activity may be slightly less frenetic, you can be assured that every viewing will count, as you will only be dealing with serious buyers. And serious buyers are usually less concerned by a sad-looking garden, or poor daylight. Indeed, cosy lighting and a real fire will often enhance y…

The Grays House Price Index: 168.21

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I had the most interesting conversation the other day with a local Grays accountant, who asked me about my articles on the Grays property market. It was quite humbling to be given praise by such a professional, when he commented enthusiastically on the articles I write. He was particularly interested with the graphs, facts and figures contained within them – so much so he recommended his clients read them, as most of them were either Grays homeowners, Grays landlords and a lot of the time - both. However, one question that kept me on my toes was, “With so many House-Price-Indices, how do you know which one to use and how can you calculate what is exactly happening in Grays?
To start with, there are indeed a great number of these Indices, including the Land Registry, Office of National Stats, Halifax, Nationwide and LSL to name but a few. The issue occurs when these different house price indices give diverse pictures of the state of the UK housing market. Whilst some indices measure th…