New build of the month: Radford Gardens, Hereford.

If you are looking for a new build home, try this Radford Gardens development named after a Hereford United player

22.07.14 Radford 1

Where exactly is it? In an area called Belmont, in the south western suburbs of this cathedral city, about 1.5 miles from the city centre.

Monster housing estate or tiny boutique development? Somewhere in the middle. The 129 house development by Keepmoat has been named after Hereford United player Ronnie Radford who scored in the team’s historic (by which we mean it happened in 1972 and has never been repeated) defeat of Newcastle United in the FA Cup. The first residents will move in this autumn. Radford Gardens is a key part of a £30m regeneration of Belmont, which will eventually include a new playground, open space, café and community centre, and homes built for rent.

How much will it cost me? Two bedroom houses start at £113,995 (or from £91,196 with the Government’s Help to Buy scheme). The largest, four bedroome properties, start at from £156,995 – or £125,596 with Help to Buy.

What is so great about it? As well as affordability the location, within walking distance of the heart of the city, is great. Hereford is a very pretty, small city with a good range of high street and independent shops and cafes. In May, a new £90m scheme opened at Hereford Cattle Market bringing a Waitrose and an Odeon cinema.

Surely its not completely perfect? Early buyers will have to endure three years of building work around them, although the developer stresses work will be phased to make sure it causes as little disruption as possible. Expressions of interest in the scheme are strong, which means buyers may have little choice but to purchase off plan and wait. The small parade of local shops in Belmont is rather uninspiring.

Who will my neighbours be? As well as Hereford United fans of a certain age, the main buyers are anticipated to be young families from the Hereford area in need of a larger home.

What is Hereford itself like? A picturesque, old fashioned and tourist friendly city on the River Wye, 16 miles from the Welsh border. Hereford boasts a city centre peppered with beautiful seventeenth century buildings, and since it is where brewer Bulmers is based the (many) local pubs tend to have extensive cider menus. As well as its football club Hereford has a popular rowing club, and two leisure centres. There are several golf courses in the countryside nearby, and Brecon Beacons National Park, the Forest of Dean and the Malvern Hills are all within easy striking distance for outings.

Is it any good for kids? All Radford Gardens properties have gardens and a play area will be built on the site. Hereford Leisure Pool and gym is less than a mile away, as are St George’s playing fields, on the banks of the River Wye. Nearby primaries include Riverside Primary School and Our Lady’s RC Primary School, both rated “good” by Ofsted. However The Hereford Academy (seniors) is considered unsatisfactory by the Governments’ schools’ watchdog, which will be a worry to parents of older children who will need to investigate other secondary options in the city.

How are the public transport links? Buses run into town if you don’t fancy the walk and Hereford Station is just over two miles from Radford Gardens. For drivers the M50 is around 20 minutes away, connecting to the M5 between Birmingham, Bristol and Exeter.

Is it up and coming? Hereford is holding its own. Average properties cost £224,619, up 5.39 per cent in the last year.

I like the sound of Hereford, what else is on sale there?

1. If you would like a rambling seven bedroom house on the outskirts of the city with an acre or two then this lovely looking house could be perfect, on the market at £850,000.

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2. Or hear the bells of Hereford Cathedral from this four bedroom Georgian town house in the city centre, yours for £695,000.

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3. Hereford has some tremendous period property, including this Grade II listed four bedroom house, priced at £385,000.

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4. Awaken to views of the River Wye with The Boathouse, a five bedroom detached house overlooking the water. It is on the market at £335,000.

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5. You get plenty of bang for your buck in Hereford, like this three bedroom Grade II listed detached house, yours for beneath the £250,000 Stamp Duty threshold.

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6. If your budget is slim how about a two bedroom cottage, postcard pretty, on the market for £145,000.

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July 23, 2014 at 10:00 AM Leave a comment

Third of buyers demand house price reduction in high crime areas

High crime rates can have a significant impact on house prices with a third of Britons saying they would demand a reduction on a home in an area blighted with problems.

22.07.14 Crime

Around 43 per cent of people said they would refuse to buy or rent a property in an area that suffered from high crime, according to a study by Direct Line Home Insurance.

A further 36 per cent of people said if they were considering buying a home in an area that suffered from crime they would insist on paying less than the asking price.

One in 10 people are so concerned about the impact crime rates can have on house prices or the saleability of a property, they would even consider not reporting a crime to the police because it would show up on an online crime map.

Unsurprisingly, half of those questions said they would also check the crime statistics for a neighbourhood they were interested in living in before they committed to renting or buying a home there.

Househunters who are concerned can check the crime statistics for somewhere they are interested in on Zoopla’s website.

They can do this by entering the address of a property they are considering and clicking on the local info section of the web page, followed by the tap for crime.

The page will show a breakdown of crime in the area and how it compares to the national average.

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Katie Lomas, head of Direct Line home insurance, said: “Crime is at its lowest since 1981, but our research shows that it is still a major consideration for house hunters and homeowners.

“It is alarming that crime may go unreported because people are fearful of affecting the price of their property, as it will mean these crimes will not be investigated, potentially leaving criminals free to strike again.”

In fact, 4 per cent of people admitted they had been a victim of crime or witnessed a criminal offence in the past 12 months, but had not reported it to police for fear of it having an impact on the value or desirability of their property.

A further 8 per cent would also actively discourage a neighbour from reporting a crime in case it showed up on a police crime map.

Among those who had not reported a crime, 49 per cent had not reported a vehicle crime, while 41 per cent had ignored a robbery or theft from a person and 40 per cent had turned a blind eye to anti-social behaviour.

A third of people had not reported criminal damage and the same proportion had ignored the possession of a weapon by someone in their neighbourhood.


July 23, 2014 at 8:00 AM Leave a comment

End of the longest depression is signalled this Friday

This Friday marks the end of the longest depression in British economic history, it has been revealed.

financial crisis

Official figures will confirm that the total amount produced by Britain – or Growth Domestic Product – exceeds the level last seen before the recession hit.

Government figures show GDP fell by 7.2 per cent between its height during the first three months of 2008 and its low in the second quarter of 2009.

Technically, a depression – defined as a long or deep recession – does not end until GDP exceeds this pre-recession peak.

Britain’s economic recovery has been slow. National output during the first quarter of this year was still 0.6 per cent below that peak, according to the Office for National Statistics.

But momentum has picked up significantly during the past year and Britain now has one of the fastest growing economies among wealthy countries in the world.

This confidence is already being felt in the property market. Latest research by Zoopla shows the average value of a home soared by £90 a day during the first half of this year, leaving the typical property costing £260,488.

But experts warn that while the economy is improving, there are other issues – such as the forthcoming General Election – that are influencing the performance of the house market.

Mark HarrisMark Harris, of mortgage brokers SPF Private Clients, said: “The official numbers are demonstrating what the housing market has known for some time – the worst is over for the economy. Confidence is returning, with many of the buyers who may have been worried about job security and delayed making a purchase, finally ready to take the plunge.

“However, while the recovery is welcome it is also tentative. There are signs that the housing market is now starting to cool a little with buyers better able to negotiate over prices than before. With the threat of an interest rate rise on the horizon and the uncertainty surrounding the General Election, along with the possibility of a mansion tax, there are plenty of hurdles for the housing market to overcome.”


July 22, 2014 at 3:02 PM Leave a comment

Average house prices rise by £90 a day

The average cost of a home soared by £90 a day during the first half of 2014, research showed today.

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House prices in Britain jumped by 6.5 per cent or £16,265 in the six months to the end of June, to leave the typical property costing £260,488, according to Zoopla.

Home values rose in all regions of Britain during the six months, with London leading the way with an increase of 8.2 per cent or £43,115.

The steep gain pushed the average house price in the capital up to £567,392.

But the East and South East were not far behind posting growth of 7.5 per cent or £19,440, and 7.4 per cent or £23,031 respectively.

The Zoopla research came as data showed the number of homes changing hands reached a six-and-a-half year high during June.

A total of 109,580 properties were sold for more than £40,000 during the month on a non-seasonally adjusted basis, according to HM Revenue & Customs.

The figure was the joint-highest number of homes to change hands since November 2007.

But on a seasonally adjusted basis, the property market showed some signs of moderating, with 102,680 residential properties sold during June, broadly unchanged from the previous two months.

The Zoopla data also provided further evidence that the housing market recovery is beginning to ripple out from London and the South East to other areas of the country.

Salford in Greater Manchester was the best performing town during the first half of 2014, with the average house price soaring by 12 per cent or £14,874 to stand at £138,619.

It was followed by Brough in Yorkshire, where prices jumped by 11.9 per cent or £25,184, to leave the average property costing £211,156.

Lawrence Hall, of Zoopla, said:“Homeowners up and down the country are starting to see the benefits of the recovery as home values make further headway in 2014.

“Property price growth has largely been a London and South East story until recently, so it is very encouraging to see the house price recovery broadening and the ripple effect starting to take hold further north.

“Over the past few years Salford especially has prospered from job creation in the area, which has helped boost the local property market.”

Overall, house prices rose by just over 6 per cent in the South West, North West and Yorkshire and the Humber during the first six months of the year, while they rose by more than 5 per cent in the East Midlands, North East and West Midlands.

Gains were lowest in Wales and Scotland at 3.5 per cent and 1.1 per cent respectively.

Recent strong house price growth has led to concerns that a bubble could be building up in the property market, particularly in London where values have soared by 20.1 per cent during the past year.

July 22, 2014 at 11:39 AM Leave a comment

First time buyers face ‘tough’ property market

First-time buyers are being squeezed out of the property market by soaring house prices, with numbers dropping by 20 per cent during June, research showed today.

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People buying their first home accounted for just one in five sales during the month, down from one in four in May, and the lowest proportion since May last year.

The National Association of Estate Agents said buyers aged between 18 and 30 accounted for only 3 per cent of all purchasers during the month, the lowest level it has ever recorded.

The group warned that the plight of first-time buyers is expected to get worse going forward.

Nearly 80 per cent of estate agents expect the Bank of England’s recent call for lenders to limit mortgage advances to people borrowing more than 4.5 times their income to hit those buying their first home.

The figures came as haart warned the typical homebuyer would face a stamp duty bill of at least £7,500 by the end of 2016 if house prices continued to rise at their current rate.

The independent estate agent said if property values continued to increase at an annual rate of 10 per cent, the average property would cost more than £250,000 in two-and-a-half years’ time.

This rise would push people buying an averaged priced home into the 3 per cent stamp duty band, up from the 1 per cent band for properties costing up to £250,000.

Mark Hayward, managing director of the National Association of Estate Agents, said: “Things are getting even tougher for first-time buyers.

“Not only do you now need to stump up ridiculously large sums of money in terms of deposits and stamp duty to be able to get on the ladder, but new rules mean buyers will also have to prove they can easily afford repayments now and in the future.

“Alongside this, a scaling back of the Government’s Help to Buy scheme and the implementation of the Mortgage Market Review in April will also have a significantly negative impact on the first-time buyer market.”

But there was some good news for potential buyers during the month, with the average number of properties estate agents had on their books increasing to 46, up from 44 in May.

While the figure still remains low compared with historical standards, it was accompanied by a fall in the average number of buyers registered with estate agents, with these dropping to 371, down from 374, helping to ease the mis-match between supply and demand.

In a further sign that the property market is beginning to slow down, there was also a fall in sales agreed during the month.

The typical estate agent branch sold nine properties in June, down from an average of 10 homes in May.

The drop is likely to help further ease concerns that a bubble was building up in the property market.

Recent strong house price growth has left the average cost of a home in the UK costing £260,311, according to Zoopla.

But there is growing evidence that the market is beginning to cool as more homes come on to the market, and buyers become more cautious in anticipation of future interest rate hikes.


July 21, 2014 at 11:21 AM Leave a comment

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