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.
Whether you’re sick to the teeth of hearing about the impending nuptials of Prince William and Kate Middleton or have already picked out your best hat and frock for the occasion, the fact remains the Royal Wedding could make you a rather regal pile of cash.
Here at FindaProperty we’ve recently done a bit of research and discovered London homeowners could earn £100 million by competing with the capital’s hotels during the weekend of the Royal Wedding – and that’s without stocking your home full of Kate and Wills themed mugs and tea towels.
Our survey found one in four London homeowners are considering renting out part or all of their homes for the weekend of the April 28 ceremony.
So what kind of windfall are we talking about here? We’ve found the average price people are willing to let out a spare room for is £38 per night. Three-quarters of these short term landlords are planning to charge less than £50 a night, though five per cent plan to charge £100 per room a night and one per cent are to take on London’s top hotels, charging over £300 a night.
The majority of people are looking to let out a single spare room, though more than a quarter are considering letting out their whole property for the weekend. A further four per cent are looking to create “pop up” hotels, letting out three or more of the rooms in their homes.
Ever walked past the home of your dreams and wondered if it’s for sale or what it last sold for, or even what it might be valued at right now?
Well, you can do all of the above and more with our brand new property app for Android phones.
The Zoopla Android app follows the success of our highly acclaimed Zoopla iPhone app, which achieved over 50,000 downloads in its first two weeks alone. We’ve now become the first of the major UK property portals to launch a dedicated app for users of Android powered smartphones.
It’s free, feature-packed and has been designed as the ultimate property market resource, allowing users to both search for property listings and research the property market ‘on the move’.
One of the most exciting features is Augmented Reality (AR). We were the first to bring it to the UK market via our iPhone app and we’ve now incorporated it into our new Android app. It lets the user point their phone at any property using camera view to display any relevant information such as whether the property is for sale, how much it last sold for or what it is valued at today.
Here are some of the key features of the Zoopla Android app:
- Hundreds of thousands of properties for sale and to rent
- Free, instant value estimates for all 27 million UK homes
- Over 16 million house prices paid dating back to 1995
- Local market data including average home values by area
- Map-led search as well as list view and Augmented Reality
- One touch click to call or email estate agents instantly
Download it now from the Android Market on your mobile or visit zoopla.co.uk/android
Or for iPhone users visit zoopla.co.uk/iphone
Before you read the key results below, it’s worth us pointing out the following:
- This survey was fielded from 29th November to 4th December 2010
- There were 5,932 total respondents. 5,287 of these were homeowners
- 2011 appears to have got off to a solid start indicating possible increase in confidence since the end of 2010
- We are reporting record levels of traffic, searches and leads in early January across Zoopla.co.uk
The uncertainty around the impact on the overall economy in 2011 of the austerity measures and the continuing drought in mortgage finance availability created a toxic combination for housing market confidence in late 2010. However there is every reason to expect confidence to grow as this year progresses providing the economic outlook doesn’t worsen and banks start to loosen their lending criteria.
Here are the main results from the survey:
• 54% of homeowners expect house prices to rise, down from 81% one year ago
• 1 in 3 expect property prices to fall in 1H 2011, up from 1 in 4 three months ago
• Fewer owners plan doing any home improvements and will spend less in 2011
• 92% see mortgage financing as no easier to obtain now than 3 months ago
• Scottish most upbeat over housing outlook for 2011, N Irish far less optimistic
Homeowner confidence in the property market outlook fell to its lowest level in more than two years in December, amid concerns over the government’s austerity measures and the availability of mortgage finance. According to our latest Zoopla.co.uk Housing Market Sentiment Survey, only 54% of homeowners surveyed expected house prices to rise over the coming six months, down sharply from 63% three months ago and 81% a year ago.
According to the survey, those surveyed now expect average house prices to rise by only 1.9% over the next six months, down from a predicted 3% rise three months ago and reflecting the drop in confidence. And the number of homeowners who expect property prices to fall over the first half of 2011 now stands at 1 in 3 (33%) up from 1 in 4 (25%) only three months ago.
UK homeowners, however, curiously remain more confident about the prospects for the value of their own homes compared to those of their neighbours, with those surveyed expecting average growth in property values in their local area of only 1.9% over the next six months versus 2.5% for their own homes.
The survey also highlighted that fewer homeowners plan to carry out home improvements over the next six months, with only 37% of respondents stating an intention to do any works, down from 42% three months ago and 48% at the start of 2010. And the percentage of homeowners who plan to spend at least as much this year as they did last year on improving their properties now stands at only 68%, down from 77% at the beginning of 2010.
The survey results show just how severely the lack of access to mortgage finance is impacting the health of the property market and confidence in it. Only 8% of those surveyed believe that it is now easier to get financing than it was three months ago, with more than 9 out of 10 seeing no improvement in the availability of financing over the past three months.
Confidence in Scotland appears higher than the rest of the UK, with 63% of Scots expecting house prices in their area to rise over the next six months, although this is still down from 71% three months ago. England is some way behind at 54% whilst less than half of homeowners in both Wales (49%) and N Ireland (42%) expect house prices to rise in the next six months.
Follow this link to download the Q4 2010 Zoopla Sentiment Survey press release and graphs.