Musings of a London Property Finder

Oh dear.  Parents who haven’t managed to get the kids into any of their preferred schools are really in the doldrums and we’ve already taken a few calls on the back of the disapointment dished out by the schools this week.

Like most relocation agents, inevitably our property searches for Clients with families revolve around schools and because we have an Ofsted inspector with contacts nationwide, everything is arranged wth the minimum of fuss.  Usually our school searches focus on public schools or schools for foreign nationals but the news this week that at least 10% of children in Richmond, Kingston and Hillingdon failed to get into any preferred state schools, leads me to thank my lucky stars for that. 

We’ve had a distressed London parent on the phone, who now wants to move to a different area, to be near a low-cost public school.  I live very close to a secondary school which is apparently ‘outstanding’ and one of the best schools in mainland England, according to their website.  It is completely wasted on me, as I am resolutely childless but this school is the main reason parents from the neighbouring borough move across the border, boosting house prices where I live. 

The point is during the difficult months ahead, vendors should remember to proclaim catchment areas from the rooftops it may pay dividends.  Oh and buyers with kids should pay close attention to where the schools are in relation to their new homes.  We are responsible Relocation Agents, and our acid test for buyers is whether or not they would be happy to live in the property for 10 years if the chips are down.  So all parents should ascertain where the primary AND secondary schools are and still feel confident about the new purchase.  They may still be in nappies, but the little darlings grow up fast!  Think ahead and contact this London Property Finder when you are ready to buy in your preferred catchment area.

Technorati Tags: London Property Finder, property and school catchment areas, property hunting for parents, property search for parents, relocation agents for parents, school searches

Tags: London Property Finder, property and school catchment areas, property hunting for parents, property search for parents, relocation agents for parents, school searches

Musings of a London Property Finder

Boris Johnson’s list of measures announced today to prop up the bottom of the housing market and the construction sector bode well for the latter but surely he is missing the point.  First-time buyers need to accept that if they don’t have the funds to buy in the area they’ve always lived in, they need to buy a home in need of work in an area they can afford, which is likely to improve or hold it’s value.  If they buy at a price which will give them a big enough margin to make a little bit of money they will be able to move onwards and upwards in the future. 

Of course everyone wants to live in the best areas, but buying a new build, even with a discount, isn’t going to help them make money and move on.  A one bedroom flat in a new block with a shiny new kitchen, wood flooring throughout and big shower will be of no help if their situation changes.  What happens if you have children or need to start working from home?  With stamp duty at 3% for properties over £250,000, owners on low to average incomes need to save up to pay the stamp duty if they ever want to move and with little or no increase in the value of their home, they may be homeowners, but they will be well and truly stuck. 

Boris and co should be lobbying to increase the stamp duty thresholds and trying to instill a work ethic and sense of entrepreneurship about property into the young so that when the market starts to recover, said first time buyers will be able to enjoy the fruits of their DIY and embark on the next step up the property ladder.  Television programs showing amateurs paying over the odds for sub-standard property and then wondering why they make a loss have a lot to answer for.  But those heady days for vendors have gone and canny first time buyers should be entering the market now and going head to head with investors to pick up a bargain property in need of TLC. 

Those who follow Boris’ lead and buy new now, and need to sell in 5 years time, will sell for the price they paid if they are lucky, with only a few thousand paid off the mortgage.  Still, for security and boosting savings, it beats renting I suppose.  For further help in finding the right property for you call this London Property Finder

Technorati Tags: First time buyers, London Property Finder, Time To Buy New Build

Tags: First time buyers, London Property Finder, Time To Buy New Build

Musings of a London Property Finder

Following our good news that house prices were up, lets rephrase that - the good news for Hackney Vendors that prices in Hackney rose by 0.1% in January.  Unfortunately we have no such glad tidings for vendors elsewhere in the UK and we have never acted as home search agents for residential home buyers in Hackney - we always end up in the smarter postcodes.

Prices in East Sussex, where we have a Country base are down 13.6% according to the Land Registry’s latest figures - so the gloom affecting Brighton estate agents doesn’t look like shifting.  No such gloom for Country Home Search Agents such as ourselves however.  We are managing to negotiate great discounts on property which has already been significantly discounted, such as the Hampshire home which Clients of ours have just moved into, purchased for 36% less than the initial asking price and 18% less than the ‘reduced’ price.

Most of the popular pockets in the Home Counties are down 13 or 14% and the Cotswolds are down 11% , with the execption of Gloucestershire where average prices are down 14%.  The shorter the Friday night exodus, the better for the traditional London getaways.

The same cannot be said for the further flung country locations.  Anglesey, Cumbria, Denbighshire, East Riding, Flintshire and Lincolnshire are all showing relatively healthy (?!) single figure annual price drops.  The prize for ‘Recession Busting House Prices’ must go to Glamorgan, where average prices have dropped a paltry 3.5%  since last year, unless you live in Cardiff, in which case your house has dropped 9% - in theory at least.  Happy days for the Welsh and that’s before we talk about the rugby!  Still, at least you’re in second place boys and winning streaks can’t go on forever!

So, in a nutshell, all areas we cover are down 10-14%, a few areas we don’t really do much in at all are sitting in single figure losses, but our Clients know that we will want to save more than 10% on every transaction, so take another 10% off at least and lots of stress, time and fruitless journeys to boot!  It remains to be said that the best property at the top end is not always on the market, so if you want a Property Finder in the know who will do the groundwork and find homes you thought you could only dream of - our number is 020 7923 7564.

Technorati Tags: Cotswolds Property Prices, Country Property Prices, county house prices, Home Counties Property Prices, Home Search Agents, House Prices, Property Finder

Tags: Cotswolds Property Prices, Country Property Prices, county house prices, Home Counties Property Prices, Home Search Agents, House Prices, Property Finder