Posts filed under ‘For sale’
A garage in West London is on the market for £300,000, it has been revealed.
In the latest sign of London’s property boom, the garage is valued at more than the average price of the British home.
Property in the capital has risen on average by almost 10 per cent during the past year or almost £47,000 to more than £533,000.
During the same period, the average British property has risen 5.5 per cent or almost £14,000 to nearly £260,000.
The garage is in the prestigious London area of Kensington and is nestled in a quiet mews moments from Hyde Park.
It occupies only the ground floor, covers a total of 240 square feet and has space for two cars.
Rory Penn, partner of Mayfair estate agency VanHan, said: “Parking spaces in prime central London are without doubt the most unrecognised investment opportunity. Some have risen by 100 per cent in value in just two years and this trend shows no sign of abating.
“For example, secure underground parking spaces in Knightsbridge can cost around the same as a good house in many UK postcodes.
“There is a huge lack of supply and many high-net-worth individuals living in London’s most desirable addresses require parking for their car collections or staff.
“They will often pay any price for this, due to the convenience, making them an incredible mid-term investment if you purchase and flip it on for a profit.”
Garages for sale:
1. End of terrace garage in private cul de sac in Kingston Upon Thames for £23,500
2. Garage set within a secure development on the Battersea riverside for £75,000
3. Garage in a residential road in the heart of Wandsworth for £55,000
Britain’s seaside towns are under attack, with one tourist chief claiming once-popular resorts are in danger of “death and decay” without Government investment.
Hotelier Jim Fowler claims coastal locations like Ilfracombe in Devon, are turning into ghost towns – and his fears have been echoed by Malcolm Bell, head of tourism at VisitCornwall.
However, while some holiday towns can be deeply depressing out of season (and a little too “kiss me quick” when thousands of tourists descend) there are some absolute treasures, whose good value quality period housing stock, sea views, good looks, disproportionately good facilities (thanks to those same tourists), and community feel make them excellent places to live all year round.
On the most westerly point of the Cumbrian coast, around 40 miles south of the Scottish border, is St Bees. This is one for those who like their beaches dramatic and not too crowded: the expanses of sand are huge, and fringed by towering red sandstone cliffs. The area is beloved of walkers, particularly as St Bees is also close to the Lake District National Park.
The village itself is pretty and traditional and popular with parents thanks to the presence of its own primary school, rated “good” by Ofsted. In their spare time residents can choose between jet skiing and paragliding, just two of the sea-based sporting options available. The town centre is hilly but pretty, and there are several pubs to enjoy.
“It is a cute, popular little seaside town,” said Angelina Chapple, manager of Lillingtons estate agents.
“It is a really popular place to live, partly because it has got its own train station. And you get a lot of families because of the schools.”
The average property price in St Bees currently stands at £201,004, up 7.73 per cent in the last year.
The village centre is full of pretty cottage style houses, some Georgian, and Chapple says a two bedroom house would cost around £100,000, while larger properties with five or six bedrooms would cost between £250,000 and £285,000.
At the other extreme of England, more than 350 miles south is another seaside gem, Southsea, in Hampshire. Southsea is a great little town and has the benefit of being only a mile from the centre of Portsmouth, which means residents can easily take advantage of its shop and transport links.
Southsea also has a good high street of its own, as well as plenty of bars and restaurants. Its beach is gravelly, and blessed with not one but two piers. Southsea Common means you are never far from some open space, and the town is large enough to sustain a theatre and annual music and arts festival.
Families like the area because of the presence of Charter Academy (seniors) rated as the best performing school in Portsmouth and the second-most improved school in England and Wales at GCSE level.
Steve Sprake, director of Pearsons estate agents said Southsea was one of the most sought after addresses in the Portsmouth area. “It is a busy, bustling place, with everything on your doorstep – you don’t need a car,” he said. “It is a thriving town with a good blend of shops and restaurants. It is a great place to live.”
The average property in Southsea currently stands at £194,593, up 8.21 per cent in the last year.
If you would like a seafront flat – many former hotels have been transformed into apartments – expect to pay around £200,000-plus for a two bedroom property. A Victorian or Edwardian townhouse with four bedrooms would cost on average between £350,000 and £400,000.
North Norfolk is famous for its beaches and Cromer is one of its nicest traditional beach towns – and one which has not been rendered totally unaffordable by an influx of second home owners from London.
The town has it all – two blue flag beaches, good shops, and plenty of cafes and restaurants.
Freshly caught fish and seafood is sold daily on the beach, and it’s a great starting point to explore the whole coastline as well as the Norfolk Broads.
Cromer Academy (seniors) is a small but highly rated school, and the town is large enough to support a string of primary schools which earn “good” ratings from Ofsted.
The town does have its share of seasonal “bucket and spade” shops, but it also has independent art galleries and craft shops to counterbalance.
Louis de Soissons, a director of Savills estate agents said he believed that Cromer was on the up. “There are some very nice houses in Cromer with fabulous sea views, and it has got a lot of character and charm,” he said.
“There is also a lot of investment going on. There has been a lot of regeneration of the old seafront area and the pier is being restored. At the moment it is good value for the North Norfolk coast, but I don’t suppose it will stay like that forever.
Average prices in Cromer stand at £201,670, up 9.38 per cent in the last year. Expect to pay £300,000 plus for a four bedroom Edwardian house, or from around £150,000 for a two bedroom flat close to the sea.
Properties for sale:
1. Family sized Victorian house in Cromer, on the market for offers over £350,000
2. Pretty pastel-painted townhouse in the centre of Southsea, with three bedrooms, for £329,950
3. Spacious two bedroom flat in a period building in the heart of St Bees for £115,000
If you’re buying a typical three or four bedroom property in Britain, the statistics show you can expect to spend more than a quarter of a million pounds. But what if you are looking for a larger property? Particularly, if you’re a landlord or looking to run a hotel? Here, we show you properties with at least 10 bedrooms that have an asking price of less than £250,000.
1. Eleven bedroom semi-detached house in Liverpool for £244,950
2. Twelve bedroom end of terrace house in Great Yarmouth for £225,000
3. Fourteen bedroom property in Blackpool for £120,000
4. Ten bedroom detached house in Weston-Super-Mare for £225,000
5. Ten bedroom end of terrace house in Blackpool for £89,999
6. Ten bedroom terraced house in Margate for £240,000
The housing market recovery is losing steam, but prices are expected to continue rising as the supply of properties remains tight, economists said today.
A number of indicators have pointed to a slowdown in housing market activity during the past month, with new buyer enquiries and mortgage approvals both dipping, Capital Economics said.
But it added that the number of homes being put up for sale had continued to fall, leading to market conditions remaining “very tight”.
As a result, it expects prices to continue to rise during the coming months.
Matthew Pointon, property economist at Capital Economics, said: “The housing market recovery looks to be losing a little steam, with a number of indicators dropping back over the past month.
“While that may in part reflects the poor weather, it could also be a sign that the pent-up demand that has been released in recent months is now tailing off.
“That said, while the recovery no longer appears to be accelerating, further rises in both prices and activity are likely.”
The group pointed out that the latest output indicators suggest the economy is continuing to grow at a robust pace, while inflation is falling and incomes are rising, meaning the squeeze on real earnings may be coming to an end.
It added that although the Royal Institution of Chartered Surveyors had said the balance of surveyors reporting a rise in new buyer enquiries had eased for the third month in a row, new sales instructions declined at a faster rate.
It said this suggested the imbalance between supply and demand would continue, putting further upward pressure on house prices.
At the same time, the average property took just 7.9 weeks to sell in March, the joint shortest time since the middle of 2007, reflecting the tight market conditions.
But there is considerable regional variation, with properties in London typically selling within three weeks, while those in Wales took an average of 12 weeks to find a buyer.
Capital Economic’s analysis is likely to ease concerns that a bubble is building up in the property market.
Nationwide recently reported that house prices had risen for the fifthteenth consecutive month in March, while Halifax said annual house price inflation was rising at its fastest rate for nearly six-and-a-half years, although it reported a price fall on a monthly basis.
But figures from the Bank of England showing a fall in mortgage approvals for house purchase during February have helped to ease concerns that a runaway market was developing.
Meanwhile, the Council of Mortgage Lenders today published data on postcode lending for the second time.
The figures, which cover the third quarter of 2013, measure outstanding lending by Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, Santander UK, RBS, and Clydesdale and Yorkshire Bank, which together represent around 73 per cent of the total mortgage market.
The figures showed that outstanding mortgage debt owed to participating lenders totalled £897.2bn at the end of September last year.
Unsurprisingly, mortgage debt was highest in London at £229.52bn, followed by the South East at £162.35bn.
At the other end of the scale, homeowners in the North East collectively owed just £26.12bn, while those in Wales owed £28.6bn.
Bob Pannell, chief executive of the CML, said: “With data covering outstanding lending rather than new flows, there are only small changes since the last quarter.
“It is likely to take some time before any discernable changes or trends emerge from this quarterly data series.”
A wood cabin with one main room raised eyebrows after it was suggested that it could be sold for £400,000. But if it’s a room with a view that you’re after, you may not need to look much further.
That is because the holiday chalet can be found nestled on a cliff overlooking one of Britain’s most beautiful beaches.
Access to the clifftop property in St Ives, Cornwall, is only on foot via a winding footpath, but once there, panoramic views of Porthkidney beach are on offer.
It is currently on the market for £350,000, but it is understood that the detached property could go for a much higher price when it goes to auction tomorrow.
The cabin is a popular holiday destination for honeymooners and those wishing to propose, along with surfers and artists looking for a tranquil coastal retreat, according to the estate agents handling the sale, Countrywide Auction.
The gross rental income for last year was £34,574, with onwards bookings at the time of going to print of £14,332.
The property also enjoys a decked balcony and seating areas, along with well-stocked mature gardens particularly to the side and rear.