Sell Your House Quick Help Blog

House prices levelling off

The BBC reports that the Nationwide's latest house price data points to house prices stabalising. But the big question must be for how long?

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House Sellers Start To Lower Asking Prices

According to Rightmove some 70% of houses for sale this year have failed to find a buyer.

Rightmove has been reporting a stand-off between buyers and sellers but things may be changing as Rightmove reports the first fall in asking prices this year.

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Mortgage Availability Is Growing

Some good news for homeowners. The BBC reports on a Moneyfacts article which reports that the number of available mortgages is rising - for those able to put down just a 10% deposit.

The number of products available is at its highest level since August 2008.

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40% Expect House Prices To Fall

This Is Money reports on the latest confidence survey by Findaproperty.com. The survey reports that confidence in the residential property market is ebbing away, with 42% of those sampled expecting prices to fall.

However perhaps the most revealing number is that 47% of the sample are sitting on the fence, neither expecting a rise or fall. While this may relfect the stagnant nature of the market it may also mean that the current outlook is too confusing for most.

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Zoopla Says Property Values Continue To Slide

Zoopla says property values are now 18% less than they were at the peak of the market, although there are wide regional variations.

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Future Rate Shock Should Worry Lenders

There's been quite a bit of news this week focusing on the future problems that will be caused by higher interest rates. With most home owners on variable or floating mortgages, higher interest rates (which have to come at some point) could cause problems for lenders - because they will pose difficulties for homeowners...

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FT asks - Houses for sale - but where are the buyers

A concise summation of the current state of the market, and why the Bank of England will try to avoid a rate rise for as long as possible.

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UK House Prices - More Falls In The Pipeline

Data released today by the RICS shows prices continuing to drop off, at best being flat, with only London bucking the trend. The FT's Lex' take,is that property is still over valued with big price drops to come.

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When Will Interest Rates Rise?

After UK interest rates being so low, so long, there's much ongoing speculation on when rates will rise.

It seems that every time Mervyn King twitches, interest rate watchers are able to offer a whole range of opinions on whether rates will rise sooner or later.

This is an article from Money Week, detailing why interest rates could rise sooner than you think.

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More People Are Agreeing Sales On Their Properties

Data from Hometrack suggests that house prices in England and Wales fell at their fastest annual rate in February, in more than a year.

The picture is complex. The actual monthly fall of 0.2% was the lowest since July 2010. However looking at the annual picture prices actually dropped 2.7%.

What is interesting is that Hometrack reports a 7.5% increase in the number of new properties coming on to the market, and just under 15% more people registering as interested in buying.

The real news is that there was around 25% more sales agreed in February.

However the market continues to be constrained by the availability of lending with mortgage approvals running at less than half the long term average.

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Accidental Landlords Paying Through The Nose

Homeowners wishing to let their homes because they are unable to sell may be hit by large bank fees.

Some banks will not give a permission to let forcing homeowners to take out more expensive buy to let finance.

Others find that their bank will insist on increasing their mortgage rate if the home is to be let on a long term basis.

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Free House Price Calculator

An easy way to check house price trends in your post code is to use the calculator on the BBC's 'Your Money' Page. You'll find the calculator at the bottom right of the page.

Remember these are historic prices and post code prices don't reveal exactly how your property is weathering the storm. That said, they are a useful guide is you're wondering what's happening in your area.

The BBCs Free House Price Calculator uses data from the Land Registery and Registers of Scotland.

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Mortgage Lending 18% down

New figures reveal mortgage lending in December 2010 was 18% down on the same month a year previously.

Lending was just over 33% of what it was at the 2007 peak.

The Council of Mortgage Lenders who released the figures also expect interest rates to rise sooner ratehr than later.

Lets hope the Government listens to those who have commented current inflation is being driven by factors that are resistent to influence via changes in interest rates.

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OFT - Homes At Risk Because of Debts

The OFT is clamping down on lenders who tell customers to pledge their homes against non-mortgage debts.

Four providers have been ordered to "address concerns" about the way some consumer debts are enforced.

The regulator found that people are being forced to put their homes at risk for debts of as little as £600.

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Mortgage Lending Will NOT Recover

The BBC reports that banks and building societies do not expect any significant recovery in mortgage lending next year.

A new vetting process for mortgages, put in place by the FSA, could "cement in place restricted... lending".

The banks say that this tougher regime would have prevented half of recent borrowers from getting a mortgage.

The warning comes after figures showed new mortgages last month, at £12.4bn, were the lowest for a decade.

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Sell Properties Quickly, Sell Your House Quick Help

Sell properties quickly by selling to a direct buying firm. This is the quicker and simpler way to sell multiple properties..

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House prices dragged down by lending and buyers

The Royal Institute of Chartered Surveyors today said that it's latest survey shows house prices continued to be dragged down by constraints on lending and a shortage of buyers.

Available mortgage lending for first time buyers is one of the main obstacles keeping transaction activity low.

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Mixed Picture for House Prices

The Halifax says the picture for house prices is mixed.

Although house prices rose 1.8% in October..that followed a large price drop the previous month - 3.6% - the largest drop on record.

Looking at the three month comparison prices actually fell 1.2% - a similar picture to the Nationwide.

Like it or not the trend is down. As expected although the Halifax believes there will not be a sustained fall over the coming months..

However, we believe, that downward pressure will continue to apply if sellers continue to outweigh buyers.

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House prices fall 0.7%

According to the Nationwide's latest figures house prices fell 0.7% in October or 1.5% if the three month comparison is used. However the average house still costs 1.4% more than it did a year ago.

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Scottish House Prices Ahead of UK

House prices in Scotland appear to be recovering faster in Scotland than elsewhere in the UK.

One of the reasons appears to be a shortage of new properties coming on to the market.

It's feasible that people are bracing themselves for public sector cuts. With the Scottish economy particularly dependent on this sector, price rises may be temporary.

Accordingly firms of surveyors are expecting price falls in the coming months.

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It's A Buyers Market Say Surveyors

The latest survey by the Royal Institute of Chartered Surveyors confirms that it's still a buyers market. 44% of its members said they had seen price falls in the last three months.

Prices will continue to be under pressure as sellers out numbers buyers.

A spokesman also said that first time buyers were in particularly short supply

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September house prices largely unchanged

House prices saw little change in September according to the Nationwide.

It's chief economist believes that low interest rates will continue to prop up demand for property even in the absence of readily available finance.

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Mortgage Lending at 10 year low

Council of Mortgage Lenders says mortgage activity plunged to a 10 year low during August and that the market remains exceptionally weak.

There is no doubt that mortgage lending remains weak for a number of reasons.

It is likely restrictions on mortgage lending at attractive rates are one of the key issues as well as homeowner confidence.

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Banks are not passing on rate cuts

Banks are not passing on rate cuts to borrowers says a Bank of England report. The report says the reason in part is that the banks are building in higher profit margins.

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First time Buyers still struggling for mortgages

First time buyers are the "engine" of the house market.

It is therefore worrying that the proportion of home loans taken out by new home buyers (34%)has dropped to its lowest level for three years.

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Experts say house prices WILL fall

According to the latest survey of RICS surveyors, 38% now expect prices to fall during the next three months.

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House prices fall for two consecutive months

House prices have now fallen for two consecutive months - the first time they have done so since February 2009.

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How to DAMAGE your house VALUE

An interesting read for a bank holiday Monday.

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First Time Buyers Frozen Out

The number of first time buyers actively looking to buy is about half the number needed for a healthy housing market.

According to Rightmove.co.uk, the house market is now relying on previous owners moving out of rented accommodation, and investors taking up the first time buyer slack.

All this against a backdrop of Government spending cuts, job losses and funding restrictions.

Our view is that property prices will feel downward into 2011 and beyond.

Funding remains a key obstacle for all housing market sectors.

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House price drop due to holidays

Website Rightmove, says that an over supply of property during the holiday season coupled with lending restrictions are leading house sellers to drop their asking prices.

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penalties for selling ex council property

My husband and i bought our council property in July 2008 at a discounted rate due to our tenancy we are thinking of selling our home to move to a bigger

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Can I trust a property agent?

We want to sell our house to retire abroad but our buyer pulled out. Since then the market has slowed and we have had few viewings but no offers. A property

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Tipping point for house prices

As we predicted, house prices are starting to fall with surveyors believing prices will fall in the coming months. Although falls may not be uniform throughout the UK, the downward trend has started.

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House prices now at 2006 levels in England and Wales

House prices in England and Wales are now at similar levels to those seen in the summer of 2006, according to the Land Registry.

During the last year all regions have seen an increase with London the highest at just over 12%. However there are signs that increases are slowing.

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How To Sell Investment Property Quickly To Raise Cash

How to sell investment property quickly to raise cash? Even if you do all the right things to maximise your chances of selling things can still go wrong..

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Are cheap hip packs any good - can i save money?

Reply: HIP pack prices can vary by as much as £300, so you can save money by shopping around. There tends to be more variation in price for HIPS for

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house sale

when an offer is made what advice can the estate agent proffer? By Anon Your estate agent should be able to advise you on whether the offer is reasonable

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House price inflation is 10% says the Government

House price figures need careful interpretation.

New figures from the Departmentof Communities and Local Government suggests prices were just a tad over 10% higher in April than a year ago.

The question we should all be asking ourselves is..is this sustainable this year?

Figures to April are likley to have been influenced by the relatively few properties on the market compared to buyers.

Figures also released by the Council of Mortgage Lenders supports the view, as the number of mortgage loans granted fell 9% in April.

Even more worrying. The percentage of loans made to first time buyers was just 35% of the total - the lowest figure since September 2007.

So fewer loans, higher prices, more properties coming onto the market say the surveyors ...taken together it's likely to lead to pressure on prices later this year. How much depends on the economic news, Budget etc.

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Sales in Scotland still require a Home Report

For the avoidance of doubt. Home Information Packs (HIPs) have been abolished for England and Wales. However in Scotland, advertised properties still require a Home Report bought by the seller.

Does the abolition of HIPS boost sales?

More homes are being put up for sale in England and Wales because of the abolition of Home Information Packs (Hips), the latest survey from the Royal Institute of Chartered Surveyors suggests.

We don't think this is the complete picture, since sellers confidence has been boosted by rising prices.

The survey also suggests that surveyors believe sales will pick up over the coming months.

Again we don't see this is obvious at all since sellers will out number buyers.

However they do acknowledge that prices will flatten as a result of changes to the supply/demand relationship.

Much much more likely to impact sales is the economic backdrop...of which we'll know more later this month.

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House Price Falls More Likely?

With the Halifax and Nationwide releasing conflicting pictures of the UK housing market last week, homeowners could be forgiven for feeling confused.

Earlier in the year we suggested there was a window for selling of a few months before sellers began to outstrip buyers again.

It's looking likely that this window has now passed. Buyer confidence will wain as the country takes a collective intake of breath as we await announcement of public spending cuts.

Of course, no matter how bleak the economic news gets, people do still have to move but recent price rises, for many, are likely to prove only short term.

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Prices are still rising say the Nationwide

House prices are still rising, according to the latest monthly survey from the Nationwide building society. Prices went up by another 0.5% in May.

HOWEVER, prices seem to be supported by the relative scarcity of available properties.

Should a disproportionate number of additional homes come onto the market prices may well slow down.

The market may also react to the new Government's Budget due soon. This will be an important factor in guiding sentiment along with updated economic news.

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No Spring Bounce for Mortgage Lending

The news that the latest figures for mortgage lending showing the market is subdued is not surprising, given the economic and political backdrop. We forecast worse than expected economic news as the country holds its breath for news of how cuts and tax rises impact them.

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Is Suspending Home Information Packs A good Thing

Home Information Packs were suspended last week by the new Government. The moved seemed to be largely welcomed by all but the HIP industry. EPCs continue to be required.

Searches can cause delays in a sale. By reverting to the old system the delays are faced by the buyer rather than the seller.

With levels of transactions low, it would make more sense to learn from the Scottish system - where a Home Report includes a survey.

With transactions volumes low, it can be hard to get consistent figures for survey valuations.

The current system only benefits lenders, brokers and surveyors - not buyers.

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Selling in Scotland to Move Abroad - Can we sell in six weeks?

We're selling in Scotland to move abroad.We live in Perthshire. We are going to Australia in six weeks. The house was on the market in 2008 and didn't

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House Repossessions Fall

Good news. The number of homes repossessed in the UK fell by 7.5% in the first three months of 2010, according to lenders

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Surveyors Say Housing Market Is Picking Up

According to the Royal Institute of Chartered Surveyors prices are falling or rising - depending on where you live.

However the market as a whole is benefiting from its usual spring pick up.

More worrying is that the number of properties coming onto the market is outstripping new enquiries from buyers, possibly pointing to a slow down later on in the year.

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I Owe 87% - Can You Still Help Me Sell Quickly

I want to sell to my flat in Edinburgh to move in with my girlfriend. We have to pay off about 105 and its on at 120, the valuation in November last year.

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My house chain is broken - can I sell my house quickly for the full value?

Our house in Berks sold within 2 weeks of coming on the market but our buyer dropped out today. If I use the services of a house buying company can I still

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Rent to move house

We moved from Edinburgh to Birmingham three months ago. We couldn't accept the offers we got from homebuying firms. As we moved in with relatives we decided

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