Good news for first time buyers

First-time buyers will tentatively return to the property market in 2011, according to two leading property websites.

A survey by FirstRungNow.com showed 40 percent of first-time buyers are ready to pull together a 10 percent deposit after executing careful saving plans.

And research by property website Rightmove estimates that one in four people who hope to buy a property during the coming year will be first-time buyers – up from a low of 22 percent in July.

With many young people seemingly now ready to embark on such a big financial commitment, here’s some advice for those ready to buy their first home:

Traditionally, a buyer can borrow up to three and-a-half times the main earner's income before tax, plus one times any second earner's income, or alternatively two-and-a-half times their joint incomes if this is larger.

Lenders have eased on affordability, however, most still use affordability measures and will go for around four times individual or joint salary.

Interest rates will go up, so it's sensible not to push such limits. The base rate has been cut to a historic low of 0.5 percent - mortgage rates for big deposits are at rock bottom, but will rise in the future.

Strength of rental market causes bidding wars

The gap in the UK property market is widening – while low activity is driving prices down in many areas, quality property in sought-after locations is now instigating bidding wars, lock outs and time limits on exchange.

That’s according to the County Homesearch Company. It says a select few locations, including areas of Kent and London, have witnessed a sudden increase in activity and competition.

A mini surge in top-end homes coming on to the market has led to fierce competition among buyers, with clients being strongly advised to offer additional non-returnable deposits to secure their property.

Such is the competition for luxury properties, some prospective buyers are paying fees of up to £10,000 to demonstrate they will not pull out of the deal.

County Homesearch Kent said activity is buoyant in some niche areas of Kent, adding that high levels of competition has also been extended to the rental market, with clients being advised to offer six months rent up front to secure a rental property.

London’s rental market is also at its strongest for years, meaning that investors can expect a healthy return, not only on their original investment, but on the rental yield too, its London division said.

Rural house price increase greater than urban properties

Houses in rural areas of the UK have increased in price by an average of £200 per week over the past 10 years, a greater climb than their urban counterparts, according to research by Halifax.

Homes in towns and cities have increased by 91 percent over the same period.

Buyers looking to purchase a property in the countryside can expect to pay a 20 percent premium, compared to one bought in an urban area. This difference has increased over the past decade with buyers in the countryside paid a 17 percent premium ten years ago.

The number of first time buyers in the countryside is much less than in urban areas with 27 percent of sales in rural areas being to first home owners, compared to 45 percent in towns.

The lifestyle benefits associated with living in the countryside still resonates with homebuyers, so rural properties continue to trade at a significantly higher premium to homes in urban areas, Halifax said.

However, as a consequence of rising property prices and generally lower average earnings, the housing market in rural areas has become more challenging over the past decade, particularly for those looking to get on the property ladder, it added.

Commercial Property Market Still Growing

The UK commercial property market continued to see positive capital growth this month, with values up by 0.2%, according to the CB Richard Ellis’ UK Monthly Index.

This is thanks to the Central London office market, which unlike the rest of the market, is enjoying strong growth because of the increasingly restricted supply and a positive rental growth outlook.

All property saw capital growth of 0.2% and a total return of 0.7%, with offices once again the top performing sector, with capital growth of 0.5% and total returns of one percent. All property rental values fell by 0.1% in October, with growth in Central London offices countering weakness elsewhere.

CB Richard Ellis said the surprising positive total property returns for this month is because capital values are continuing to defy weaker sentiment. But it also said the market continues to lack direction, and Central London aside, other subsector offices may be nearing an inflection point.

Contrary to the wider market slowdown, investment volumes are picking up, with total turnover for 2010 likely to surpass 2009’s £25bn, it said. Furthermore, UK institutions and foreign investors have been among the most active, accounting for around two thirds of the total investment so far this year.

Hungerford property is best waterside home

A Hungerford property has been named the best waterside home on the property market by the Telegraph newspaper.

Eddington House and Mill, located by the River Kennet, was rated number one on the Telegraph’s list of the top ten waterside properties for sale, beating off competition from British properties in Thornborough, Devon and Perthshire.

The Berkshire home is available for only the second time in 90 years. It has six-bedrooms and is in a secluded area on the edge of Hungerford. It’s only a few minutes’ walk from the town centre but is surrounded by an area of Outstanding Natural Beauty and the Freeman’s Marsh.

The newspaper describes the idyllic property as having ‘beautiful gardens with gigantic trees’ and office space in the original four-storey mill. It also offers ‘light and spacious living accommodation’ with muted colours and wooden floors.

The property is on the market for a cool £1.8 million. However, despite its top billing, it’s not the priciest house on the list. The most expensive is a trendy home in Carcassonne, France. Located in the fashionable Languedoc region, its gardens border the Canal du Midi.

The 11-bedroom property landed at number five and is valued at £1.9 million.

Living in Kintbury

Kintbury is a large village in the Kennet Valley between Hungerford and Newbury, with a population of 2400 people. The river Kennet and the Kennet and Avon Canal are on the north side, while the land rises steadily to the chalk downs to the south, and is surrounded by many woods and pastures. Motorway junctions 13 (Newbury),14 (Hungerford ), and the A34 bypass are close by, providing swift access to Heathrow, London and the West Country North (A34) and South (A34).

Kintbury’s existence dates from 93.A.D. The Normans built the large church and the centre of the village is almost identical in its layout as it was 1000 years ago. The buildings are more contemporary, having been built between the seventeenth and twentieth century. The town centre is home to a variety of independent shops that are popular with both locals and people from nearby villages.

The village has its own modern medical centre. There are two village pubs and a hotel/restaurant located between the River Kennet and the Kennet and Avon Canal. There’s a primary school in the village, with other state schools being located in nearby Hungerford and Newbury. The private school Cheam is also in the area.

House price rise last month

UK house prices rose to a two-year high in September as demand picked up in London and the property market showed signs of peaking, according to research company Acadametrics Ltd. and LSL Property Services Plc.

The average price of a home in England and Wales rose 0.2 percent from August to £223,965, the highest since July 2008, the companies said. Values were up seven percent from last year.

Imminent public-spending cuts will inevitably hit household finances, but the housing market will not face a ‘double dip’, LSL said. It added it does not expect market activity or house prices to continue growing in the short term.

This increase in house prices came as the number of transactions rose 3.4 percent from August to about 66,000, an increase of 11 percent from a year earlier.

With transactions historically slow in September, this welcome increase in activity, particularly in London, is the result of sustained investment from foreign investors and cash-rich buyers triggering an increase in transactions.

Interestingly, the International Monetary Fund said this week that UK house prices appear high and may need correcting. Similarly, Lloyds Banking Group Plc’s Halifax unit said home values dropped the most since 1983 last month.

Luxury London House Prices Drop

Prices of luxury London homes have dropped for the first time in 18 months – according to upmarket property agent Savills.

Its quarterly central London survey shows prices in the third quarter of 2010 look set to fall 0.9% in Knightsbridge, Chelsea, Belgravia, Mayfair and Marylebone.

This will be the first fall since the opening quarter of 2009 and has been caused by an increase in properties on the market as uncertainty in the economy continues to limit buyer demand.

Prime prices rose by 0.1% across central London during the third quarter. This represents a significant slowdown from the one percent rise during the second quarter of 2010 and the 4.3% rise from the final quarter of last year.

It is however, ahead of the fall previously predicted by many analysts.

The best performing areas in London were Kensington, Holland Park and Notting Hill, where prices grew 2.1% since July.

Robust demand from overseas buyers and an influx of cash from City workers helped the market amid concerns about the impact of austerity measures, Savills said.

The property agent also believes the impact of the economy on buyers will continue to dictate activity levels and prices over the next 18 months.

Living in Hungerford

Hungerford is a small market town home to 5,500 people on the Berkshire/Wiltshire border and is located within a region of outstanding natural beauty. Despite this rural location, its strong transport links means the area is anything but remote. Indeed, Hungerford is just four miles from the M4 motorway and also benefits from having a direct rail link to London.

The town’s market contains numerous small independent retail outlets and commercial businesses, thus providing both visitors and residents with unique personal services across a wide range of goods. There is also a wide variety of restaurants and other eating places throughout, not to mention ample local accommodation.

Hungerford is surrounded by open common land just five minutes from the centre of the town and contains a mixture of flora and fauna that should appeal to visitors who enjoy fine walking conditions.

The town also hosts numerous unique annual events, including the three week Arts Festival during July. The event features a combination of theatre, music, entertainment and exhibitions. There is also a late night Victorian Extravaganza in December.

Information on the history of Hungerford is available at the town’s virtual museum.

High deposit demands make it impossible to buy a new home

Banks are damaging recovery in the housing market, according to Britain’s biggest property development company.

Barratt Developments believe lenders are making it impossible for people to buy new homes by demanding 20% deposits. Consequently, those buying an average priced property must find a down payment of around £35,000.

Unless prospective buyers can turn to generous parents, they won’t be able to afford to get on the property ladder, Barratt said.

It also dismissed suggestions that buyers are simply too cautious to splash out on new homes, highlighting the fact that Britain is building fewer houses than at any time since the 1920s.

And with banks even more reluctant to approve mortgages on apartments, Barratt is trying to tackle the problem with a new range of small houses dubbed its ‘Aspirations’ range.

These houses are more expensive than the flats first-time buyers may previously have chosen, but demand smaller deposits from lenders. The other main benefit to young families is that they will not outgrow them as quickly and should delay the increased cost of moving to a bigger place.

Barratt recently announced it had slashed its losses to £163million in the 12 months to July from £679m the previous year.

Mortgage lending low in July

Mortgage lending dropped to its fourth lowest level since records began during July, sparking fears of a double dip in house prices.

Net lending totalled £86million, a dramatic fall from June’s £518million, the Bank of England said.

The number of approved mortgages rose marginally to 48,722 - still significantly down on the levels of more than 100,000 a month during the housing boom.

For some market analysts, the figures confirm the housing market is heading for a double dip, with net mortgage lending flat and the number of mortgage approvals low.

Net lending, which does not include repaid or redeemed loans, was the fourth lowest figure since Bank records began in 1993, and less than 1 per cent of the amount that was lent during the housing boom, when £10 billion was lent in a single month.

The gross amount of money banks and building societies lent was £7.1 billion, also slightly up. However, borrowers paid back nearly as much to their lenders, resulting in the very modest net figure of £86 million.

The number of approvals was also down on November’s recent high of just over 59,000, with the housing market failing to benefit from its traditional summer bounce.

Increase in students = good news for local landlords

An increase in students going to university is boosting the local housing market, a research study has shown.

A report by high street bank Lloyds TSB found that of ten universities studied, six were found to be witnessing dramatic increases in house prices.

Interestingly, the largest increases in house prices are in towns that have also experienced a surge in student populations.

Aberdeen experienced the largest increase in real estate, with the average cost of a property in the city rising by nearly 40 percent since 2005. This rise coincided with a 54 percent increase of higher education students arriving in the city.

A similar pattern has developed in both Northern Ireland and Wales. Coleraine saw a 34 percent increase in house prices, while Carmarthen grew 29 percent in the last five years.

However, an increased student population in an area did not always indicate a rise in house prices, researchers said.

Winchester saw a 30 percent increase, compared with only 2.5 percent with the remainder of the South East, even though its student population grew by 78 percent over the last five years.

Edinburgh only had an 11 percent rise in house prices during the same time period, despite having the eighth highest student population in the UK.

2010 will be the last year for rental declines

The first signs of occupational recovery have been shown in 2010, according to a national commercial property consultancy report.

Lambert Smith Hampton’s (LSH) National Office Report 2010 found that while demand for office property has reduced significantly over the past two years, there are now signs the market may be recovering.

LSH predict that although rental values will fall by around three percent in 2010, this will be the last year of declines for the market as a whole. It expects only weak growth next year, followed by a stronger recovery in 2012 and 2013.

It expects rental growth to return to 2006 and 2007 levels by 2014, with the Central London market leading the rest of the UK out of the current downturn.

This sense of optimism should prove encouraging for the occupational market in Berkshire, which has struggled over the past 15 months.

Indeed, take-up in Reading reached its lowest total in more than ten years last year, with total occupational market activity only equalling 185,764 sq ft.

Furthermore, the first quarter of 2010 has got off to a similarly slow start, with only 22,260 sq ft let, through two transactions at Plaza West in Reading town centre.

Office Property Market Recovering

The first signs of occupational recovery have been shown in 2010, according to a national commercial property consultancy report.

Lambert Smith Hampton’s (LSH) National Office Report 2010 found that while demand for office property has reduced significantly over the past two years, there are now signs the market may be recovering.

LSH predict that although rental values will fall by around three percent in 2010, this will be the last year of declines for the market as a whole. It expects only weak growth next year, followed by a stronger recovery in 2012 and 2013.

It expects rental growth to return to 2006 and 2007 levels by 2014, with the Central London market leading the rest of the UK out of the current downturn.

This sense of optimism should prove encouraging for the occupational market in Berkshire, which has struggled over the past 15 months.

Indeed, take-up in Reading reached its lowest total in more than ten years last year, with total occupational market activity only equalling 185,764 sq ft.

Furthermore, the first quarter of 2010 has got off to a similarly slow start, with only 22,260 sq ft let, through two transactions at Plaza West in Reading town centre.

Stamp duty holiday for first time buyers should be kept

Stamp duty holiday for first-time buyers should be retained by the new Conservative-Liberal Democrat coalition – that’s the view held by a group of surveyors.

A poll by the Royal Institution of Chartered Surveyors (RICS) found that 89 percent of its members believe the measure, introduced in Alistair Darling’s pre-election Budget, should be kept.

Mr. Darling suspended stamp duty for first-time buyers purchasing residential property valued at under £250,000. The measure, which came into effect on March 25, is set to run until 2012.

In their latest survey, RICS asked specific questions on stamp duty to assess the potential impact stamp duty exemption may have on property transactions.

Eighty-five percent of those surveyed said the incentive could boost transaction levels by as much as ten percent, while one in ten felt the increase could be between 11 and 20 percent.

Latest figures from HM Revenue & Customs show that 76,000 property sales took place in June, bringing the total for the second quarter of the year to 225,000. That’s up from 216,000 deals between January and March.

Meanwhile, the average price paid by first-time buyers in the UK during May was £154,738, according to the Department for Communities and Local Government.

More evidence of falling house prices

House prices fell in July for the first time since February, according to a survey by the Nationwide building society.

Its figures showed the average price of a UK property dropped from £170,111 to £169,347 last month, a reduction of 0.5 percent.

This monthly fall means the annual rate of house price inflation dropped to 6.6 percent in July from 8.7 percent in June, Nationwide said.

Demand from homebuyers in 2010 remains subdued and has made little progress in building upon the recovery seen during much of 2009.

Furthermore, the number of properties changing hands in the UK is only at half the rate seen prior to the recession, despite the introduction of second stamp duty holiday for the vast majority of first time buyers and record low interest rates, it said.

And unfortunately for those people earning only a modest income, restrictive credit conditions coupled with the bleak economic outlook has left only wealthier buyers in the market, with many first time buyers lacking the confidence to purchase as uncertainty over employment prospects remain.

Meanwhile, IHS Global Insight said the figures support their view that prices will fall between three and five percent during the second half of 2010.

Spike in lending, but it's not over yet

Mortgage lending improved during the month of June, according to the Council of Mortgage Lenders (CML).

Their figures showed that gross lending to both house buyers and people re-mortgaging homes increased by 15 percent to £13.1bn.

This is seven percent higher than the same time last year, and also the biggest monthly figure of 2010.

But potential home buyers shouldn’t be too enthused just yet, as June’s increase was merely a seasonal pick-up, with overall lending remaining subdued, CML warned.

They believe there are signs house prices are stabilising, with more properties being put up for sale thanks to the recent abolition of Home Information Packs. Consequently, liquidity in the market may increase.

However, transaction levels are likely to remain flat as long as access to credit remains problematic, while expected job losses in the public sector will also provide further damage, the UK trade body added.

Elsewhere, the bleak outlook was reflected by comments from the Bank of England in the latest edition of its monthly publication.

The Bank revealed major lenders in the UK expect demand for secured lending to be flat for the rest of 2010, a reflection of potential buyers weak confidence in the property market.

House prices are going down

House prices are likely to fall during the second half of 2010, according to a survey by the Royal Institution of Chartered Surveyors (RICS).

This is because the number of properties on the market now outnumbers the amount of people wanting to buy homes, the institute said.

RICS reached their conclusion after surveyors discovered that the number of inquiries from new buyers fell during the month of July.

They feel this reduction in inquiries, only the second since October 2008, is also partly because potential buyers are becoming increasingly concerned about the outlook of the economy, with government cuts set to be introduced in the upcoming months.

However, the survey did show that sellers are now returning to the market, at levels not seen for three years. This is a result of Home Information Packs being abolished, having proved very unpopular since they were introduced in 2007, RICS said.

The survey concluded that while house prices are likely to decrease, property sales should continue to rise, with the average surveyor having sold 17 homes between May and July.

Meanwhile, a separate forecast by accountancy firm PricewaterhouseCoopers suggests that house prices may not reach pre-credit crunch levels for another ten years.

How to find out house prices in your area

Whether you're thinking of buying or letting a house or any other property in the next few months/years, it's a good idea to keep your eye on how much similar properties are selling for in the area you're considering.

We get a fair idea of whether house prices are rising and falling across the country from our national newspapers, often accompanied by scare tactic hyperbole or mind-easing storytelling, depending on how the economic journalist is feeling that particular day.

But the disparity of house prices across the country is vast. So, it's a much better idea to keep your eye on things a little more locally. You can get fairly specific information... even down to a particular street.

Using an independent website such as houseprices.co.uk allows you to just type in the area you are looking for into a search box and it'll bring up all the information that you're after straight away. It gives you a list of all the properties that have been sold in that area, right down to the street name and gives you the price that it sold for.

The Land Registry's House Price Index is the most accurate independent provider of statistical information on house prices in the UK. You can check the average house price in any area in the UK here: http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/

So keep up with it and good luck with your buy or sale.

Property for sale in Hungerford, Newbury, Kintbury and surrounding areas

Hungerford   £119,950 A well presented first floor flat within level walking distance from Hungerford's pretty tree lined High Street, ideal for a first time buyer or as an investment.  Accommodation briefly comprises entrance hall, lounge, kitchen, bedroom, shower room, parking, electric heating.  more...    On Market     Branch - Nye & Co      Reference number - NH00001436

HUNGERFORD   £144,950 A bright and airy first floor apartment with UPVC double glazed windows, refitted kitchen and bathroom, only a few minutes from the High Street. Cherry Grove is a small development of four bedroom detached houses and twelve flats arranged in three blocks of four. Ideal as a first time buy, down size  more...    On Market     Branch - Nye & Co      Reference number - NH00001477

Hungerford   £149,950 A smart first floor two bedroom flat with refitted kitchen, replacement UPVC windows and new bathroom with power shower over the bath. more...    On Market     Branch - Nye & Co      Reference number - NH00001438

KINTBURY   £159,950 An attractive terraced cottage situated in the popular village of Kintbury. There is a lounge, kitchen, cloakroom, two bedrooms and first floor bathroom. NO ONWARD CHAIN.  more...    On Market     Branch - Nye & Co      Reference number - NH00001245

Little Bedwyn   Guide Price £175,000 A pretty Grade II listed cottage situated in a sought after village just to the west of Hungerford. The accommodation is in need of some improvement and comprises lounge with tiled fireplace, dining room with opening to kitchen, bathroom and on the first floor two bedrooms. Outside there is street p  more...    Sold STC     Branch - Nye & Co      Reference number - NH00001456

RAMSBURY   £179,500 A beautifully presented modern terraced house with a garage, close to the centre of this sought after village. Accomodation comprises refitted kitchen/breakfast room, 14 x 12'2 lounge, two bedrooms (Bed 1 12'2 x 10'8), refitted white bathroom with shower over bath, gas heating, garage with useful st  more...    On Market     Branch - Nye & Co      Reference number - NH00001321

ALDBOURNE   £189,950 A spacious semi detached house in a no through road close to the centre of this popular village. Accommodation comprises a sitting room with open fire, cloakroom, kitchen/diner, three good size bedrooms and a bathroom with shower over the bath. There is off peak electric heating, UPVC double glazed   more...    On Market     Branch - Nye & Co      Reference number - NH00001471

HUNGERFORD   £199,500 Fabulous two bedroom first floor apartment with ensuite, close to Hungerford town centre : Gas heating, door entry system, communal gardens and allocated parking space, ideal for a first time buyer or as a pied de terre in this country for someone with a property abroad.  more...    On Market     Branch - Nye & Co      Reference number - NH00001300

The Green, Marlborough   £199,950 A spacious period cottage with first floor bathroom, situated in the popular village of Baydon.  Accommodation comprises: Lounge with Dining Area, refitted kitchen, walk in cupboard (scope for small study), two bedrooms, large refitted bathroom, gas central heating, gardens, off-road parking, outbui more...    On Market     Branch - Nye & Co      Reference number - NH00001432

Kintbury   £215,000 A semi detached three bedroom house with replacement UPVC double glazed windows and enclosed 90' garden. It is situated in the popular village of Kintbury in a cul de sac location. Accommodation comprises on the ground floor hall, lounge with fireplace, large UPVC conservatory, kitchen, side lobby w more...    Sold STC     Branch - Nye & Co      Reference number - NH00001450

Buying a property in the countryside

There are lots of things to consider when buying any home, but especially so if you're thinking of purchasing a property in a more rural area out in the countryside.

The obvious benefits are that there's generally less noise, less pollution and often more of a sense of community. But, you may want to consider how close your house will be to the nearest town as there will be fewer big supermarkets and large shops and things may be more expensive in highly sought after areas.

Country houses can be quite expensive as they often come with a lot of land and are in high demand as they are less readily available than terraces and flats in city centres.

In Hungerford, there are currently only 68 houses for sale. This is great if you're looking to sell your property as you will have less competition in the area. But if you're looking to buy, this could push the prices up a bit. The average price of properties in Hungerford is £255,953 compared to £234,837 nationally.

For more information on buying or selling your property in Hungerford or the surrounding areas, please visit our website: http://www.nyeandco.co.uk or give us a call on 01488 683334

House prices will rise 5.3% this year

Is this just an optimistic estimate from the Centre of Economics and Business Research (CEBR)? Or will we see a rise in house prices this year? The first quarter certainly seems to point to an increase.

There seemed to be a bit of a rumour going around that we were coming out of the recession a couple of months ago so that might have had an effect. But in the most part, I think it's probably due to a combination of a shortage of new homes and a low mortgage borrowing rate- if you can get one.

If house prices do rise by 5.3% this year, it will push the average house price in the UK £172,500. This all sounds very promising for property owners wishing to sell. But it's actually lower than the CEBR's original growth prediction of 6%. Good news for buyers though. Get in there quick!

80% think house prices will rise this year

Four out of five people expect house prices to rise over the next six months, according to a survey carried out by property website, Zoopla. This takes us back in time and confidence to about where we were in 2007, before the recession started.

In April last year, only 30% of participants in the same survey, thought house prices would rise. So, there's definitely a lot more confidence in the housing market this year.

This could be an excellent time to invest in property and for first-time buyers to get themselves on the property. The recent reduction in stamp duty will also be helping them along.

I can't see the property market making a full recovery in the next six months but this is definitely a step in the right direction.

How the 2010 budget will help first time house buyers

Alistair Darling's budget plans announced on Wednesday may be a step in the right direction as far as first-time house buyers are concerned. Darling announced that he will double the stamp duty threshold from £125,000 to £250,000. This is good news for nine out of ten first time buyers.

Having said that, to compensate for this higher threshold, Robin Hood (sorry... I mean the Chancellor) will be zapping home-owners of properties worth more than £1million by a further 5%.

Despite my sarcasm, this move is welcomed by the property sector as a whole and it should, in the short term at least, have a positive impact on the industry. The average home in the UK is worth £170,000 so £250,000 seems like a bit of a random number. Perhaps it's not just first time buyers that will be attracted by the new stamp duty threshold.

Moving to a new area

If you're think of buying a house in an areas that's new to you, there are loads of things you should consider that you might not have even thought about. This blog covers how to find some of this information. For the purpose of this blog, we'll assume that you're looking at moving to Hungerford.

Have a look at local council websites to find out about things like schools, jobs, parks, council tax, future planning developments, etc. to help you decide whether the area you are moving into has all the necessary facilities for you and your children to live comfortably. You can visit the Hungerford local council website at: http://www.hungerford.uk.net/

You'll also need to take a look at local house prices. By using the Land Registry Property Prices website, you can find local property price information. It told us that the average house price in West Berkshire in January 2010 was £218,132, which is an increase from the same time last year when the average house price was just £216,345.

Another thing you might want to look at is the local neighbourhood statistics. There are the local authority statistics for West Berkshire where you can find out statistics about crime in the area, housing demand and supply and education.

UK house sellers getting 94% of asking price

Last month, home-buyers in the UK paid an average of 93.8% of the asking price, according to Moneyfacts.co.uk. This compares to 88% in February last year.

It would seem that this is even more evidence to suggest that now is a good time to sell your house. Supply of property is very low compared to demand, which means that houses are worth more and buyers are willing to pay more for property.

The average price of a home has increased over the last 12 months by around 0.4% and increased in 25% of postcodes last month, according to the research.

If you're interested in selling your house in Berkshire, please visit us at http://www.nyeandco.co.uk/tos.htm or give us a call on 01488 683334.

Some houses for sale in Hungerford

If you're thinking of buying a house in Hungerford at the moment, you might find it a little bit tough. It's such a beautiful, desirable place that nobody seems to want to sell up and move on. So, when you see something you like, act fast because they're selling fast.

Hungerford   £149,950 A smart first floor two bedroom flat with refitted kitchen, replacement UPVC windows and new bathroom with power shower over the bath. more...    On Market     Branch - Nye & Co      Reference number - NH00001438

HUNGERFORD   £199,500 Fabulous two bedroom first floor apartment with ensuite, close to Hungerford town centre : Gas heating, door entry system, communal gardens and allocated parking space, ideal for a first time buyer or as a pied de terre in this country for someone with a property abroad.  more...    On Market     Branch - Nye & Co      Reference number - NH00001300

HUNGERFORD   £279,950 This cottage is a bit different! conveniently situated for Hungerford High Street and railway station with garage and parking: the interesting accommodation includes a smart refitted kitchen with granite worktops and a fabulous first floor lounge with wood burning stove and french doors that lead ou  more...    On Market     Branch - Nye & Co      Reference number - NH00001340

To register your interest in any of the properties above, please get in touch with Tony Nye at Nye & Co Estates on 01488 683334 or visit their website Houses for sale in Hungerford

House prices up for 7th month in a row... but not by as much

Well, after the hype about house prices last month, it would seem it's starting to slow down again, according to Halifax. Is this due to the economy still being far from stable? From more sellers putting their houses on the market? Or has it just been going that way for a while? Probably all three.

“There are hints in the latest Halifax data that the upward march in house prices since early 2009 could be starting to lose some legs and, while the Nationwide reported a larger increase in house prices in January itself, its survey had previously seen some signs of slowing momentum late in 2009," said Howard Archer, chief UK economist at IHS Global Insight, the research group.

In fact, the growth in January was 0.6%, quite low compared to the six month average of 1.1% taking the average cost of a home in the UK up to £169,770. But is this something to get too upset about? Well, house prices have still been rising. This is the 7th month in a row that house prices have gone up. So, I guess we'll just have to wait and see.

10 buyers to every house for sale in Berkshire

If you're planning on selling your house, this could be the best time of year to do it. Sellers are so few and far between at the moment that I estimate there's probably around ten buyers for every seller in Berkshire at present. The shortage of houses for sale is a problem across the country for buyers and estate agents.

This is great news for sellers. It means you've got the goods that are in demand. Sorry, buyers- you've got a lot of competition. With house prices rising in January and an apparent end to the recession, investors and affluent families are looking to upgrade.

“Demand for prime property is escalating among both affluent families and City bankers planning to channel their bonuses into bricks and mortar, so the next couple of months will be the best time to sell in 2010,” says Andrew Smith, head of research at Primelocation.com to the Guardian. Interest from buyers at Prime Location is currently up by 25%.

Newbury and Kintbury are particularly highly sought after areas and I would recommend that anybody holding out until Easter to sell their property this year should consider putting their house up for sale now. These next two months could be the best time to sell your house this year. You could have a viewing within a week.

Is now the best time to sell your house?

If you've got the luxury of being able to wait around for the price you're hoping for, then great. It makes things a little bit easier for you. But what if you need to move quickly for a new job or a bigger house for a growing family? Well, then you might want to know what the best months are for selling your house and when you're more likely to get the best price fast.

So, we need to consider this logically and in terms of human behaviour. You want to sell your house when there are a lot of buyers competing with each other. Spring is always a good time to sell. Couples with children want to get into their new home before the new school year starts in September. And if this is your demographic, you need to think about putting your house up for sale in February- April at the very very latest.

If you're holding off a bit, don't fear. October and November could be your time to sell to buyers who want the sale to go through before Christmas. It's a shorter window than the Spring season. But leave it much longer than this and you'll find that your buyers are in a stronger position than you as the market slows down and their competition dies down.

At the end of the day, whenever you sell your house, it's how motivated you are (and enthusiastic your estate agent is) that will decide how fast it will sell and for what price. This is just a guide to help you along with your planning. Happy selling!

5 top tips for showing your house

1. Have the right attitude
   You need to convince yourself that the person/people standing in front of you are going to buy your house. Offer them a drink like you would any guest to your house. Not dinner though... that might come across as a bit desperate. Oh, and make sure you know who's coming and try not to get their name wrong.
2. Presentation is paramount
   Give the walls a lick of paint and clear out all the clutter. It's hard for a prospective buyer to visualise all their things in the house when it's cramped with all your things. 
3. Smell you later...
   Sticking a Glade plugin in every socket in the house is going to give your prospective buyers a headache. And it might make them think you're trying to hide something. Try baking some bread or brewing some coffee. These smells are a lot more natural and inviting and won't leave your visitor feeling like they've spent the last half hour in Body Shop.
4. Give them space
   You can give your visitors a guided tour, of course. But don't follow them around for the whole visit. They need to be able to feel as though they've had a proper look and haven't had you breathing down their neck. If there are any obvious problems with the house, point them out. You'll appear more open and honest.
5. Be honest
   Even the smallest white lie could snowball and leave your prospective buyer doubting the truth in everything else you've said. So, be honest and friendly... you don't have to point out all the tiny imperfections though. You are trying to sell your house after all!

Why buy a house in Hungerford?

OK, so I am going to be a bit biased. However, there are a lot of reasons why Hungerford could be the perfect place to buy your new property. In no particular order, here are a few facts about Hungerford:

• The name 'Hungerford' is said to derive from 'Hanging wood by the ford' and the town has a rich history, which its residents are proud of.
• Hungerford is in an 'area of outstanding natural beauty'
• It's only 4 miles from the M4 motorway
• It has a direct rail link to London- great for commuters
• A great area for small businesses and independent retailers
• Hungerford is surrounded by common land just five minutes walk from the town centre
• Home to unique annual events and festivals

If you're after somewhere in the country with idyllic settings and friendly locals with easy routes to major cities, Hungerford could be your new perfect home.

'First time buyer mortgages' now more affordable

First time buyers are in a better financial position to get a mortgage than they were two years ago, according to the latest Halifax First Time Buyer Annual Review.

The credit crunch has certainly slowed down the rate at which first-time buyers have been clambering onto the property ladder as lenders tightened their belts. But this news is optimistic as house prices have lowered and become more affordable.

Commenting on the figures, Martin Ellis, housing economist at Halifax, said that while affordability has improved "substantially" for first time buyers, they are not out of the woods and into their new home just yet.

"The tightening in lending criteria over the past two years is, however, making it very difficult for some to take advantage of lower property prices and mortgage rates," he said.