Archive for November, 2010

The Isle of Anglesey – property values

Broad Beach, Rhosneigr, Anglesey

Surfers on Broad Beach, Rhosneigr, Anglesey

Just a week after Clarence House announced that Prince William and Kate Middleton are engaged and due to marry in 2011, the Isle of Anglesey or Ynys Môn, as referred to by the locals, is having its moment of glory and has been branded the ‘Island of Love’.

Flight lieutenant Wales is based on the island at RAF Valley as a search and rescue pilot and is set to remain there for another three years. So, he’ll start married life on Anglesey…will he buy a property or rent a property?

If he rents, he won’t be short of choice but if he bought a property, he may find himself with a nice little nest egg after a few years…not that he exactly needs it!

The island is well known to those based in the North West and is home to many second homes, holiday homes and property that is passed down through generations of families who use the property as a seasonal getaway. But with its new found glory, spectacular coastline and  stunning award-winning beaches perhaps it’s set to attract those from further a field?

Property values on Anglesey

Area Av. property value November 2010 Av. property value November 2009 Value change £ Value change %
Anglesey £157,954 £155,776 £2,178 1.40%
Beaumaris £216,382 £212,544 £3,838 1.81%
Rhosneigr £203,516 £200,031 £3,485 1.74%
Ty Croes £148,511 £146,067 £2,444 1.67%
Gaerwen £140,318 £138,050 £2,268 1.64%
Cemaes Bay £149,737 £147,388 £2,349 1.59%
Amlwch £135,115 £133,172 £1,943 1.46%
Llanerchymedd £146,978 £144,892 £2,086 1.44%
Llangefni £153,346 £151,176 £2,170 1.44%
Menai Bridge £194,160 £191,426 £2,734 1.43%
Pentraeth £168,763 £166,502 £2,261 1.36%
Llanfairpwllgwyngyll £168,964 £167,028 £1,936 1.16%
Penysarn £136,128 £134,652 £1,476 1.10%
Bodorgan £175,212 £173,337 £1,875 1.08%
Llanbedrgoch £190,021 £188,050 £1,971 1.05%
Marianglas £243,297 £240,922 £2,375 0.99%
Tyn-Y-Gongl £181,497 £179,832 £1,665 0.93%
Moelfre £176,045 £174,673 £1,372 0.79%
Holyhead £132,311 £131,520 £791 0.59%
Brynteg £187,456 £186,559 £897 0.48%
Rhosgoch £203,177 £202,422 £755 0.37%
Dulas £218,563 £217,880 £683 0.31%

Source: Zoopla.co.uk

Property for sale on AngleseyMarket overview for Anglesey

1. £2,350,000,  Plas Rhianfa, Menai Bridge - 16 bedroom house for sale

2. £695,000 Bryngwran, Holyhead5 bedroom detached house for sale

3. £430,000 The Drive, Bodorgan – 3 bedroom bungalow for sale

 

4. £375,000, Llanddona, Beaumaris 2 bedroom detached house for sale

5. £299,950 Yr Uncorn, Llanfairpwllgwyngyll – 4 bedroom detached house for sale

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

November 22, 2010 at 12:46 PM Leave a comment

Facebook founder, Mark Zuckerberg, rents

Mark Zuckerberg, founder of social networking giant Facebook, recently revealed he actually rents his property and doesn’t own it. Whilst, in the early days of Facebook, his money may have been tied up with his business, surely he’s now in a position to buy? According to Forbes his personal wealth stands at $6.9bn…

If ‘Zuck’ was based here in the UK, he may find our latest research of interest…

It shows that the cost of renting has risen further, compared to home ownership in Britain across 50 towns and cities in Britain. Renting a home is now more expensive than buying across 80% of Britain. The figure is up from 74% in July as asking prices have come down and rents have increased.

  • Average renter pays 9.9% more than an owner with a 5% mortgage
  • York most expensive to rent vs. buy
  • Aberdeen cheapest to rent vs. buy

Buying has always been somewhat cheaper than renting, but we’re now seeing a real insider-outsider divide in the housing market. For those who are able to buy a home, costs are low, but for those who can’t, costs are much higher – and the doorway to entry into the housing market is narrower than ever. The freezing up of credit has put home-ownership beyond the reach of many renters, and it’s driving a larger and larger wedge between them and owner-occupiers.

In some locations, the extra cost of renting is staggering. In York rents exceed mortgage payments by 39% – with average monthly rents at £978 York renters are left £3,270 a year worse off. A further thirteen of the largest 50 cities and towns saw rents exceed mortgage payments by more than 20%.

Even in London, which has the highest asking prices in the country, buying is still the most cost-effective option. The average rent of £2,121 per month is still high compared to the average asking price of £444,553, and buyers stand to save 14% annually compared to renters.

We should point out however that, while buying wins over renting today, the impact of a rise in interest rates cannot be ignored. If interest rates were to increase by 1% and rents to remain the same, renting would become more cost-effective in 72% of the locations studied.

Top 10 locations where buying beats renting

Rank Location Avg. Asking Price* Avg. Monthly Rent* Rental Premium
1 York £169,181 £978 39%
2 Birmingham £132,352 £765 36%
3 Derby £105,475 £598 36%
4 Reading £185,917 £1,053 34%
5 Milton Keynes £130,767 £732 32%
6 Walsall £91,324 £502 32%
7 Hull £116,716 £641 24%
8 Dundee £104,106 £539 24%
9 Norwich £130,031 £673 23%
10 Bradford £98,387 £506 22%

Top 10 locations where renting beats buying

Rank Location Avg.Asking Price* Avg. Monthly Rent* Rental Discount
1 Aberdeen £254,618 £833 22%
2 Swansea £190,709 £705 11%
3 Huddersfield £130,465 £510 6%
4 Edinburgh £178,609 £705 5%
5 Plymouth £150,225 £593 5%
6 Bristol £188,135 £753 4%
7 Bournemouth £186,490 £751 3%
8 Stockport £124,142 £584 3%
9 Oldham £134,925 £556 1%
10 Newcastle £133,920 £554 1%

The full list of 50 towns and cities can be found here

*The research compares current asking prices to average rents for two-bedroom flats in the 50 largest cities and towns around the country. Mortgage payments were calculated assuming an interest-only mortgage at 5% p.a.

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

November 18, 2010 at 12:30 PM Leave a comment

Londoners do the most virtual curtain twitching say Zoopla

We’re a little bit curious here at Zoopla and we believe the key to buying, selling or renting a home is having the right property related information. Not just general information, but specific, detailed and contextual information.

Even if you’re just looking; it’s the facts that matter. Being in the know, doing your research and gathering as much information as possible is the smart thing to do.

The constant stream of conflicting house price reports makes it hard for property owners to make sense of what is really happening in their local housing markets. Monitoring the value of an individual property as well as staying on top of local market statistics and recent sold prices is easy with Zoopla.co.uk. Whether buying, selling or staying put, it pays to do your research and gather as much information as possible before making any property-related decision.

So, we did a little research of our own which reveals London as the curtain twitching capital of Britain. In London more residents monitor the value of their neighbour’s homes online than anywhere else in the country. Meanwhile, Bournemouth comes out on top for having the highest proportion of informed homeowners, regularly tracking the value of their own properties online.

Here are the top ten most and least ‘knowsey’ neighbours. In other words, those most (and least) informed about the values of their neighbour’s homes…perhaps the British should be regarded as ‘knowsey’ rather than ‘nosey’?”

BRITAIN’S KNOWSIEST NEIGHBOURS

Rank Town Avg. property value Knowsiness Index*
1 London £412,448 157.7
2 Reading £277,103 145.3
3 Milton Keynes £203,029 128.8
4 Aberdeen £208,105 120.1
5 Cambridge £292,512 113.6
6 Bristol £215,539 110.8
7 York £220,180 109.8
8 Southampton £213,960 105.9
9 Stockport £188,623 104.3
10 Northampton £183,431 103.7

BRITAIN’S LEAST KNOWSEY NEIGHBOURS

Rank Town Avg. property value Knowsiness Index*
1 Liverpool £142,079 55.8
2 Hull £110,803 56.5
3 Wolverhampton £155,752 62.7
4 Rotherham £121,737 64.5
5 Manchester £138,371 69.7
6 Doncaster £129,021 72.0
7 Newcastle £173,043 73.4
8 Wigan £135,698 74.0
9 Leicester £165,931 74.9
10 Nottingham £150,947 75.1

Source: Zoopla.co.uk – *100 is UK average knosiness based on valuations run relative to number of homes

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

November 17, 2010 at 10:45 AM Leave a comment

Zoopla Poll: Users suggest offering 10% below asking price

Related links: Asking prices reduced in the run up to Christmas

Are you a registered user of Zoopla? Are you a little bit curious when it comes to property matters? Then why not suggest a poll for us to run live on the Zoopla.co.uk website?

As a registered user of Zoopla you can suggest any property related poll to test the market, find out what those active in the property market are currently thinking or research a specific topic you’re curious about.

Suggest a poll here (right hand side) and we’ll consider making it live on Zoopla today.

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

 

November 16, 2010 at 10:35 AM 5 comments

Is Rooney to blame or bad taste?

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

Man U and England defender Wes Brown has dropped the asking price on his Cheshire mansion because he thinks no one wants Wayne Rooney as a neighbour. The Sun newspaper has reported that Brown, 31, believes wealthy potential buyers looking in this area are more discreet and would not want to buy next to the Rooneys because Wayne attracts too much media attention.

Brown blames Rooney for having to drop more than £500k off the £4.5 million price tag after the property has not shifted in six months.  However, we think there’s a different reason for the struggle to sell – Brown helped design this five bedroom mansion and it takes bling to another level.

Here are just a few of the rather unique features:

  • Glass ceiling in the pool room / glass floor in the kitchen. Brown reportedly would swim back stroke and wave to his wife when she was in the kitchen:

Wes Brown's property for sale - Pool with glass ceing to kitchen

  • Jacuzzi room – off the master bedroom a ‘Teuco Seaside Jacuzzi’ sits in the middle of the room – complete with illuminated stone steps and an AquaTelevision. There is a also an eight person Jacuzzi in the pool room – which leads to a gym – which leads to a ‘plant room’:

Wes Brown's property for sale - the jacuzzi room

  • Purple velvet cinema room:

Wes Brown's property for sale - Cinema Room

  • Cast iron staircase with glass multi droplet chandelier ‘dominating the space like a cascading waterfall’:

Wes Brown's property for sale - the centre chandelier

  • His n’ hers walk-in wardrobes with faux level detailing and leading to a wet room.

We think these bling-tastic design features are more appealing to those wanting to live the WAG lifestyle and this type of buyer would be keen to add Rooney neighbours to the bling list.

The property, Waterside, is now on the market for £3,950,000.

Wes Brown's property for sale in Cheshire

November 15, 2010 at 7:12 PM 2 comments

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