London price falls affect regional markets

Zoopla research, powered by Hometrack, provides some interesting insights as to how the London market 'ups and downs' affect our market here in East Anglia and the South East.

If you were wondering why your home may not be getting the interest that creates a sale then read the report. There is an encouraging end interpretation as to where this is leading that proposes better prospects for late 2019 and 2020 onwards.

https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3A69dc4948-124d-4879-b3d8-2e48f5ba8555

Comments

House builders discuss 95% mortgages with lenders

So the house builders and the lenders have had a meeting to discuss how they can create 95% mortgages. Basically a good thing, as you would imagine most estate agents would say. But what proportion of the housing Market is represented by new homes sales to first time buyers? Also any first time buyer who purchases a new home is then a cost to the second hand Market of who knows how many sales! If I think back 30 years my wife and I as first time buyers were providing a deposit of 10%. To do this we sold her car, saved up by not going out as much and generally committed ourselves to the task of buying our first home together. Ah, you might say, but house prices were so much cheaper then. True but my salary was just under £2,000 per annum with the prospect of perhaps another £1,000 in commission from selling at lease 6 houses per month personally. The first 4 didn't count towards commission but were to cover my costs to my employer! I personally don't think 95% mortgages are ...

Coming soon...

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£10k refit competition ??

I have just returned from hospital having had a procedure carried out on my foot/ankle that involves repairing a damaged tendon and realigning my foot by breaking my heel! While waiting to be called down to theatre I sat in my room checking e-mails - as you do when you want to take your mind off things. There was an e-mail from Colin Clayton of Desk Centre Limited http://www.deskcentre.co.uk talking about a £10,000 office refit and all I had to do was create a blog post suggesting why my office should be the one to receive it! What an opportunity - here I am laid up for two weeks before I can mobilise on crutches and my office certainly would benefit from a revamp in 2013. Like most surviving, small, independent estate agents we have done this by cutting costs, reducing premises and regrettably letting staff go. Our address used to be 20-22 Market Place but is now 20 Market Place only. We originally moved to No.20 from our first premises in Newnham Street in 1993- my then bu...

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