Are property prices coming down?
Since the abolishment of HIP’s some interesting things have been happening in the property market. According to Rightmove “the market is starting to turn due to increased competition among sellers and fewer potential buyers”. This could be a great time to buy, as each day more properties are coming on the market and prices are also dropping. Our Managing Director, David Pollock had this to say about the current market situation.
“The London market is a different market place to the whole of England. London is in a bubble and therefore it is always a little dangerous to base house buying and selling strategies on whole of UK indexes. Having said that the abolishment of HIPS in the long run will be great for the London and UK market but without doubt there is going to be a period of adjustment. Will prices in London go up, go down or stay the same. Is now a great, average or poor time to buy or sell? The experts don’t and cant seem to agree. My advise is see property firstly as a home and secondly as an investment, its when you do it the other way round that things start to go wrong.”
We will have to wait until the emergency budget is announced to see the true effect on the market as many fear that capital gains tax could be increased but we wont find out until everything is revealed tomorrow.
House Prices Rising
The housing market seems to be going from strength to strength at the moment. Asking prices have risen for 11 consecutive months with and increase last month of 0.7%. The average entry level price for a house is approximately £155,242. If you are looking to buy a house for the first time now could be a good time to get hunting as prices are going to continue to increase, and although stamp duty does not apply on purchases under £250,000 for first time buyers they still need to have a significant deposit to get into the market.
An article from find a property ““The building blocks are present for a sustained recovery, but we do need lenders to step up to the plate and free the purse strings for first-time buyers. That will not only help the buyers themselves, but also the market overall and the wider economy.””
It could also be good to look into a property for investment purposes as there is currently a huge demand for rental properties in many areas of London, which means there are people out there looking right now! But this is not something you should enter into lightly. A huge amount of research is required to find the right investment property however there are many avenues which can help you along the way. Getting your finances in shape is also one of the keys to getting started with property investments, as depending on how long you keep the property expenses will vary.
To read more about the topics above click on the link below
http://www.findaproperty.com/displaystory.aspx?edid=00&salerent=0&storyid=23504
Good food, good drink, good times in Hampstead
Okay, you’re probably thinking I’m the Ambassador for Hampstead…but seriously I’ve only just moved here and I’m still very much embroiled in a frenzied and passionate love affair – let’s call it the honeymoon period.
It’s not just my love for this cosy and picturesque pocket of North West London that’s got me spouting off again. No, I’m very excited indeed, whilst resting my weary legs from an afternoon stroll, in a local Hampstead boozer I spot not one, not two, but three celebs! Being an avid follower of the gossip pages (sshh don’t tell anyone), I could hardly control my trembling hands as Esther Ransen calmly wanders down the road.
Where can I find such a place to mingle with the rich and famous I hear you wistfully declare? Well, it’s the Freemasons Arms on Downshire Hill right next to Hampstead Heath. It’s a homely gastro pub with a great atmosphere, comfy sofas, open fires and they do a cracking burger to boot. The baked camembert with toast and onion marmalade is to die for – unless you’re like my lovely friend who ate nearly a whole box to herself! Top all that off with some gorgeous views over Hampstead Heath, what more can you ask for when catching up with friends on a lazy Saturday afternoon for a few jars and some tasty grub…oh and a little bit of celebrity gossip.
Want to find out more? Visit their website And this is their address 32 Downshire Hill, Hampstead Heath, London NW3 1NT.
Plans for a road through Hampstead Heath
I read an article in the Ham and High the other day that left me a little perplexed. I’ve just found out there are plans afoot for a vehicle only road to run through Hampstead Heath! Being a West Hampstead resident myself, I think of Hampstead Heath quite fondly…picnics in the summer and winter strolls.
It seems to me, the one thing London doesn’t have a lot of is green open spaces, so why build a road on one? Reading through the article, it’s not just environmental issues that are under scrutiny, there’s also a safety aspect with a school close by.
Have a look at the article and see what you think – I’d love to hear your feedback.
Click here to read the full article.
