Finding the right asking price

How to find the perfect asking price with 41% of home sellers getting less than they hoped for https://t.co/8Jg0QIRI73 @jeremyleaf #property

— Dorian - Belvoir! (@Dorian_Belvoir) December 13, 2016

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Buy a street

Anybody who follows football will remember the short & occasionally brilliant Liverpool striker Robbie Fowler. Robbie as well as scoring a 'hatful' of goals also was a bit of a hit as a landlord, buying up streets of houses in Liverpool when you you could still buy a terraced house for the price of a small car.

Now landlords have their chance to emulate Robbie success off the park by buying their own Liverpool street all for the price of a Mayfair studio flat.

The property comprises of 32 bed spaces situated within 5 fully compliant HMO properties

Rent Passing (fully let) - £125,273 - 11.93% GIY
Fully let for 2012/13 academic year - £133,045 - 12.67% GIY
Inviting Offers in excess of £1,050,000

Further Details:

James Wilson
Email: james.wilson@allsop.co.uk
Tel: 0113 236 6679

Michael Gorman
Email: michael.gorman@allsop.co.uk
Tel: 0113 236 6683

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Arsenals full house

More news on the booming London property market, all the flats at the old Highbury Stadium have been sold and according to property company London and Stamford they have pushed up rents on their flats in the old North End by 14 percent.

The property firm released figures showing a rise in a underlying profits  of 51% to £13 million.

I can't expect that we will hear such cheery news from property companies outside the South East, but do let me know if you do.

At least the north is still beating London on the pitch.



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muck N brass

Landlords from Yorkshire will be all familiar with expression "Wheres there muck there's brass!"

Well if you subscribe to this view maybe you want to check out the latest offering from Allsop.

It's a residential portfolio comprising of 15 properties in West & South Yorkshire. From the look of them they are no oil paintings and unlikely to win any architectural awards. However, they do generate a passing rent of £67,556 which could increase to £72,236 with a little bit of active management the agent thinks.

On these rental figures I reckon you may get the lot for around £700,000.

To find out more contact the agents.

If you mention Property Hawk you may even get a prize!

All enquiries: 



Michael Gorman 
Email: michael.gorman@allsop.co.uk
 Tel: 0113 236 6683 



Anthony Hart 
Email: anthony.hart@allsop.co.uk
 Tel: 0113 243 7950

Mortgage Search - whole of market

Investing at Open House Weekends

With property prices still negative year on year, now is a good time for landlords to look into their next investment before the inevitable market recovery. Purchasing property in weaker market conditions allows you to maximise your investment, providing you with a bigger scope for profit when looking to sell in the future.

If you are a landlord with a large portfolio to manage already, there are alternative ways for you to find your next property. Recently, open house weekends have had a resurgence of popularity, allowing buyers and tenants the opportunity to compare and contrast a number of properties over one weekend, cutting down the time it takes to arrange viewings.

Alternatively, if you are looking to sell or let property, these events can generate hundreds of viewings for the property, helping you to sell or let quickly. Estate Agents across the UK are beginning to offer open house weekends, so speak to your agent today to find the nearest event to your location.

Rent Hike Encourages People to Buy Properties

Earlier this year, property website Rightmove carried out a survey questioning 5,146 people. Rightmove revealed a report showing that 1 in 7 tenants expect their rent to be hiked more than 10% and half of tenants are expecting their rents to increase over the next year.

According to Rightmove, the number of people searching their website for somewhere to rent has increased by two-thirds. However, its rental listings have fallen by nearly a quarter on two years ago.



“Tenants that can play the trump cards of offering the most rent and superior references will be top placed as there is such fierce competition for a declining stock of properties” explains Miles Shipside, Rightmove director. 



Many landlords have started making buy to let purchases. Rightmove also surveyed landlords and found that because of the low performance of other types of investments for example bank accounts, almost 31% (one-third) of people were buying properties. It has also been reported that people have been seeking more advice from lawyers, surveyors and taking out landlord insurance which shows the boost in the people that are interested in stepping into the property market.

Cutting Out Estate Agents?

Will Cutting Out The Estate Agent Ever Work?

Hard economic times often push through changes in the way we go about doing things. People’s budgets are often squeezed, and therefore new ways to save money start to come about. The ‘For Sale By Owner’ model of selling property is nothing new, in America it is extremely popular, although here in the UK it’s still and unknown quantity.

Pros:
The benefits are that you cut out the middle man, thus saving thousands on estate agent commission. You also have the complete freedom of how to market your property, and you also have 100% control over the sale of your house. You can arrange viewings when it’s convenient for you and no-one else!

Cons:
The biggest problem surrounding this business model is that it’s unknown, and many people fear this especially when it’s the sale of their home. It’s still quite a new market, so the amount of potential viewings maybe limited.
We’ve yet to see whether this will be a popular way of selling property in the UK, but it could be quite an interesting watch, especially as people are looking for new ways to save money.

Well...he who dares rodders....he who dares!!

Us For Homes are one of the UK’s largest For Sale By Owner portals, with thousands of privately advertised properties across the UK. Take a look at the site to find out what it’s all about...

Presenting property for sale

Regardless of how the market is performing, sellers simply can’t afford to rest on their laurels when it comes to presenting their homes for sale. Thanks in no small part to a decade or so of television programmes dedicated to home improvements and real estate, buyers are generally a canny bunch, who want the best possible home for their property buying dollar.

So, how to impress such a crowd, especially when potential viewers are likely to have such different tastes? Obviously you can’t please everyone but there are some basic steps you can take to ensure that your property both stands out from the crowd and pleases the crowds.

1. Tidiness and cleanliness ought to go without saying, but you’d be surprised how many people overlook these basic principles. If your property is tenanted, your control over the situation is slightly more limited. Try arranging for a cleaner to attend to the property, at your expense, 2-3 times a week, so that they do not feel that the onus of making the property look appealing falls to them.
2. Attend to any small repairs that you may have been letting slide until now. Leaking taps, damp patches, loose floorboards – all of these can detract from the look of your property.
3. Remember that you are selling a projected lifestyle as well as a home. Homebuyers are, generally speaking, aspirational – they are looking to move to improve their circumstances – so give them something to yearn for. A few well-chosen home accessories - and these might be as simple as an upmarket candle, luxe bathroom toiletries or gleaming tableware – can instantly create a feeling of desirability.
4. The smell of baking bread and freshly brewed coffee is, as we all know, a vendor’s step too far – but that’s not to diminish the importance of a home that smells good. Open windows and let the fresh air circulate before a viewing, and banish your pets from indoors. Remember, even if you can’t pick up on their lingering scent, a newcomer will be able to – so ask a friend or neighbour for their honest olfactory opinion.
5. A fresh coat of paint is an inexpensive facelift for your home, and one that involves minimal disruption. Go neutral so as to create a broad appeal and blank canvas for buyers to imagine their own choice of living room furniture and so on against.
6. Stage key rooms and use props so that buyers can more easily imagine themselves living there. Remember that many people find it difficult to visualize ways to make space work, especially when they are being rushed though on a viewing (which, let’s face it, rarely lasts long). You may use your dining room as a games room and eat from your lap as you watch TV, but it’s useful to get your hands on a table and chairs for the duration of marketing so that buyers can get a sense of the room serving its intended purpose.
7. First impressions count. Keep your front garden, path and entry hall as appealing and welcoming as possible.

North-South Real Estate Divide Growing

We’ve all been brought up on the notion of a North/South divide, it’s nothing new. Yet in recent years the economical gap has widened considerably. Figures clearly reveal that since 2003 growth in London and the South East has steadily and significantly overtaken the rest of the UK.

Moving up North might mean the cost of living is lower, but if I want to sell my house, or find a job, I’m going to be faced with much more of a challenge than if I opt to stay down south. The International and thriving economy that has spread out of London and into the South of England also makes it more robust and less vulnerable to the effects of government cuts than economies in the north.

Centre for Cities, an independent research institute recently carried out a study which produced results that illuminated the major disparity in employment prospects between people living in the northern and southern regions of the country: ‘for every extra private sector job generated in the North and Midlands between 1998 and 2008 ten were created in London and the South’.

A large number of multi-national businesses have set up camp in the south, which creates a diverse climate and global links which are not only finance based but also political and cultural. Experian predicts that London and the South East is likely to attain perhaps up to 475,000 jobs in the years approaching 2015, a huge 43 percent of all new jobs in the UK during that period. This will be the result in part of Government plans to rebuild the UK economy, with the South, with its promise to deliver, as the key area of focus.

Employment cuts in the public sector will have an impact but as they only represent a fifth of all jobs in southern regions the hit is expected to be far less painful than in other areas. This employment expansion is expected to reach into most areas but chief industries to benefit will continue to be in the service sector and high-value manufacturing. Finance, IT, business services (FBS), and engineering have the potential to flourish.

However, with new employment growth at its most intense in the capital, house prices in London and the South East are expected to continue to be well above the national average which will put still more pressure on housing markets particularly around London and the commuter belt.

Out of the last 17 quarters and since Q1 2009 has risen by 19 percent compared with the North at nine percent. It’s expected that the numerous restrictions that will suppress the market nationally over the medium term will be subtler and less aggressive in the South making economic prospects, if still undeniably low key, nevertheless more optimistic.

House price, what do they mean?

House prices – what do they mean to landlords?

As house prices continue to creep up across the country, albeit at a slow rate of growth, analysts are paying close attention to the size of rental incomes across the UK. Historically, when there is a larger than average gap between house prices and rental costs, by ratio, it signals an impending drop in house prices or rental cost. For example, if house prices have risen much higher in comparison to the average rent, house prices may have bloated to an unsustainable high, indicating a potential drop.

For landlords, any potential drop or rise in house prices can impact business and profit. House price drops can reduce demand for rental properties, leading to lesser rental values. Of course, house price falls are not all bad for residential and commercial landlords: an opportunity arises to invest in additional properties, to increase your rental portfolio at a reduced rate. Rises, on the other hand, can increase rental demand due to affordability issues with buyers, thus increasing rental values.

As a landlord of a rental property or portfolio, it is worth keeping abreast with house price trends in order to prepare for the inevitable shift. Being organised and aware of current happenings in the property market will ensure that you can adequately protect your investments, keeping your business as a landlord afloat, even in the toughest of times.

Third of properties see price chop

A third of all properties for sale have seen their price cut as the uncertain outlook for the economy & higher supply of houses on the market hits home.

A survey carried out by the property portal Zoopla has seen a third of the properties listed on their site cut at least once since they were first marketed for sale.

The highest average price reductions were in Rotherham, Manchester and Barnsley, where average asking prices were discounted by 7.1 per cent. In real terms this is the equivalent of a £9,500 drop in asking prices in Rotherham, a £11,400 drop in Manchester and a £9,000 drop in Barnsley.

Price reduction and more realistic pricing is good news for landlords looking for a bargain. I was browsing web aggregator Property Snake the other day. It appears that there are loads of properties where sellers are starting to realise that they have to get real on price to sell.

Have a look at this bungalow where the price has been reduced 50% since first being listed.

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The Time to Sell is Now!

• UK Property Market is now back to 2007 Levels

After a tumultuous few years for UK property sales, what with the economic downturn and more recently the hype surrounding the general election, it really has turned a corner and is now in great condition. It is attracting both international and UK based buyers due to the low interest rates and the weak pound. This economic environment twinned with the comparative levels of confidence means more properties for sale are entering the market and therefore meaning it is the best time to sell.

In fact, Hamptons International have stated that from analysing their figures, that this going to be the optimum level for the market for quite a while for several reasons.

Firstly, there is a strong trend of more properties entering the market. In April 2010, this property company reported a 32 per cent increase in instructions in comparison to the previous year. This is all the more impressive if you consider the low levels of stock that the market has experienced recently. During the spring months, the level of demand also mirrored this increase, especially when it comes to the London property market. The number of buyers who have registered with Hamptons International is up 14 per cent in comparison to last year. Overall it means that Hamptons International now lists a similar level of stock to last year and that the degree of demand is now close to the top levels seen in 2006 and 2007.

This level of demand has meant a fifteen per cent increase in the number of sales for this property company. Perhaps more importantly these are being converted into exchanges which are also up but by 47 per cent year on year.

Pricing is of course an essential factor when examining the sales market. Over the past twelve months, pricing has stabilised and in many cases are back to the levels of 2007 when the market activity was at its highest. This stability is really underpinning the confidence in the market but it is now set to remain consistent for the rest of the year. This is due to the reduced inflationary pressure which is powered by the increase of stock. Therefore further price rises for the remainder of 2010 are considered unlikely.

In summary, it certainly feels like the best time to sell for prospective home owners. With the increase in both buyer demand and stock available twinned with the economic backdrop and stabilised pricing and interest rates; the market conditions are currently the best this year and remain likely to be the peak of 2010.

Tescos ten grand house

Is the ten grand Tesco house the solution to the housing shortage?

Will frustrated first time buyers be exiting their renal properties and wheeling their dream starter home out on trolleys in their thousands.

Having had a look at the timber property I don't think so.......

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Zoopla partners with Gumtree

Property site Zoopla has partnered with Ebay and Gumtree and not Google as I originally reported. Sorry.

This could cause alarm bells to ring in the Rightmove offices.

Read more of Zooplas statement here

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Estate agents angry at Sarah Beeny

Sarah Beenys new property sales site is apparently winding up estate agents.

The free to sell property site where users can upload images and descriptions about their property is 'allegedly' having 100 new properties uploaded each day.

Estate agents are understandably livid and banging their permatan faces against their office walls in anger.

Tepilo is free to use, so worth a punt for any landlords who like to try everything, but judging by it's Alexa ranking of 207,000,( that's worse than us and we're a niche, niche, niche site,) you'll probably be more likely to sell your property by putting a home made "For Sale" poster in your window.

Good luck to Tepilo, but it does follow a long line of similar sites that have failed to take off, one for those that can be bothered. I can't!

Read more of the supposed angry estate agents in this Telegraph article

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Invest in a bridge in these trouble economic waters

It's difficult to know where to put your cash at the moment to get a decent return. In a deposit account you get nothing. Shares are still shaky and some still see residential property as vulnerable to a double dip in economic activity.

Well maybe some shrewd investor has got the right idea.

Inspired perhaps by the lyrics of Simon and Garfunkl an unamed investor has paid £1,080,000 at auction compared to the expected price of £1.65m. For that they get a cottage and bridge and a tax free net income of about £100,000 this equates to a net yield of about 9%. Pretty good in the current climate.

The investor is no doubt hoping for a 'bridge over troubled water', although the locals have blamed the toll for bad peak time traffic delays and have asked for it to be made free. This might explain the relatively low sale price as other investors shied away from the negative press.

For more information read this article

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Another portal to rival Rightmove?

Another property portal has launched, claiming to be the only true king that will take power from the evil domination of Rightmove.

The new pretender to the crown is Radar Homes, a site set up by a bunch of estate agents from the South West ( who were presumably fed up with paying Rightmoves charges ).

Good luck, but if it follows the course of all the other challengers who turn up on a daily basis, it will flop, whither and die a slow and painfully costly death.

The problem with the internet is that people think that it's an easy way to riches and success.

The reality is that it's lots of hard work and little financial rewards. Why do you think that the likes of Youtube, Twitter and friends are making no money?

The Rat and the Mouse blog raised the question of what happened to the much hyped PropertyLive.co.uk ? A search portal launched by all the estate agency bodies last year.

Well, seeing that their Alexa ranking is currently 932,306, the answer is not a lot, a ranking like that equates to the owner, 4 intrepid surfers and a lost child visiting the site each day.

Well good luck and god bless, here's to optimism!

Here's to the little man, who on buying his first burger van thinks one day he'll be bigger than Mcdonalds.

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Choosing an Estate Agent

When one thinks of estate agents it is rarely fondly. Most people have been disappointed with their service or feel disadvantaged. But are all estate agents the same? If you are looking for a new home, and are contacting estate agents to help you with your search it might be a good idea to first conduct some research on the agencies themselves in order to choose the best estate agent for you. Thus a good place to start is their portfolio and look at what kind of houses for sale and rent they offer. Estate Agents usually differ in their area of expertise, most specialise in the buying market with fewer focusing on rental properties.

Larger estate agents may have offices in many different regions across the country but as a prospective buyer or tenant their knowledge of the local area you’re looking at is more important. You might wish to check if they are keeping up to date with new property developments and town planning as well as knowing about good schools, transport links and if for example the neighbourhood is child friendly etc.

Many estate agents will also be able to help you with mortgage calculations and arrange inventories; sometimes they will take on full property management duties if the landlord is absent. Especially when you are thinking of renting a property it is important to check what services the managing agent offers, as you will have to deal with them throughout the tenancy.

Usually after having contacted various agencies and having gained an insight in their marketing and managing strategies it will become clear that not all estate agents are the same.

Hamptons international- properties for sale

UK Property Market Levels Out in the Summer

Recent research into the UK property market has indicated some very positive trends, and it looks like the worst of the economic downturn has finally passed the housing sector for buying and rentals. There has been a steady increase in sale prices, and rental prices have levelled out across the UK market during the last quarter. Average sale prices have risen by 4.2% between the first two quarters of 2009, with London showing particular resilience, averaging more than 5%.

The reason for this improvement is down to healthier market place competition- there are around 75% more applicants from the same time last year, a massive improvement and indicating renewed confidence in the domestic property market. Some property agencies have even gone as far to suggest that the ratio of would-be-buyers to sellers- around 9:1- is close to the heyday of 2006.

London has witnessed the most prominent improvement in the UK property market, strengthening even during the summer period, normally considered to be a quiet time for buyer activity. Smaller property holdings have performed particularly well, with prices rising around 6.7% against the first quarter of the year. Both viewing and offer figures indicate a dramatic improvement compared with this time last year- rising by 34% and 77% respectively. Perhaps most significantly though is the fact that rental prices have finally started to improve, with a small quarterly increase of 0.3%. It is also clear that the higher end of the market is recovering favourably, with London properties in the City, Notting Hill and Knightsbridge proving particularly popular.

Whilst London has received the most visible improvement, there are also signs that the property market in the rest of the country is also picking up. There have been month-by-month price gains for both properties for sale and properties for rent, with three and four bedroom houses in desirable locations performing most impressively- picking up around 5% in the last quarter.
According to research carried out by Hamptons International-property management company