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Mon 27 Apr 2015

Three bed semi-detached homes are this year's best sellers

Research from Move with Us has demonstrated that three bedroom semi-detached homes will be the best sellers on the property market this year. In a survey of 130 estate agents, when asked which property type they think will sell best in their area in 2015, 46% said semi-detached.

When asked which number of bedrooms they believe will sell best 70% opted for three bedroom homes. This is the third year in a row, agents have voted three bed semis as the best sellers in the property market.

Other estate agents noted that any properties at the lower end of the market will sell well this year in addition to new builds.

Simon King, Director of Move with Us commented:“The age of the first time buyer has been increasing over the years and with the 5% deposit brought about by the Help to Buy scheme, many home buyers are now opting to purchase three bedroom properties as their first home. They’re skipping the first rung of the property ladder, forgoing the starter home and moving straight into a property that they can grow into.”

“Three bedroom semi-detached properties have always been one of the most popular property types and are typically a solid investment. Three bed semis are also popular for investors. The low entry point in some regions means they can generate a good rental yield.”
 

Tue 03 Dec 2013

Most estate agents expect Help to Buy to boost sales by up to 30%

Eighty-five per cent of estate agents believe that the Help to Buy scheme will increase property sales by up to 30% in their region, according to the latest survey from Move with Us, home of the UK’s largest network of independent estate agents.

The results showed that the majority of respondents support the Help to Buy scheme and expect that this government incentive will help to stimulate the property market. Move with Us surveyed 186 estate agents across Great Britain to gauge their thoughts about the housing scheme.

When estate agents were asked if they believe it was right to bring the Help to Buy scheme forward from January 2014 to October 2013, 86% of agents agreed that this was a good policy decision. A further 77% think the scheme will help increase sales during the typically quiet period in the housing market in the run up to Christmas.

However, according to the results, the government could have provided more useful explanatory information about the scheme. Forty-five per cent of estate agents feel that the government hasn’t supplied them with adequate information about Help to Buy with calls for information on the risks as well as the benefits for customers. In particular, estate agents are finding that people want more information about what will happen in five years’ time if Help to Buy owners decide to move and a step-by-step guide on how the scheme works.

Robin King, Director at Move with Us, says: “Estate agents predict positive sales figures in response to the Help to Buy scheme but we are still waiting to see the overwhelming flooding of the market that some news reports anticipated. This could be down to the restricted lender participation in the scheme to date.”

“House prices are increasing naturally as we would expect in a recovering economy and it is likely the Help to Buy scheme will have a positive impact on property prices, generating more sales and creating more fluidity in the market. As a result, we expect to see an increase in house price values of between 5% and 8% in some regions as we enter 2014, however, this will be very much dependent on the banks’ ability to lend on mortgages and to fulfil their commitments to government schemes. If more lenders get involved buyers will have more options and will be able to use these incentives to purchase their first home or upscale to larger properties.”

Tue 03 Dec 2013

Shared ownership could help families get on the property ladder

A new report from independent thinktank the Resolution Foundation has found that shared ownership could be a viable option for low-income families in Britain looking to get a foot on the property ladder.
The Resolution Foundation suggests that more low and modest-income families across the country could get their feet on the property ladder if the shared ownership model is more popularised. This type of ownership could be affordable for single-child families on £22,000 a year in 87% of local authorities in Britain.
Under the shared ownership scheme buyers are required to purchase at least 25% of the equity in a home and pay a low rent on the remaining share owned by a housing association. Assuming they spend no more than 35% of their net income on housing costs, it could be a feasible option for many would-be home owners.
Vidhya Alakeson, Deputy Chief Executive at the Resolution Foundation, said: "Shared ownership must enter the mainstream, becoming the fourth tenure in the UK, alongside traditional ownership, private and social renting."
The Resolution Foundation is dedicated to achieving better living standards for the 15 million people in Britain on low and middle incomes.

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