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.
If you’re a renter, or have ever rented a home, you’ll already know the toe-curling truth about the sector – it’s expensive and involves, at least at the beginning of a lease, an awful lot of money changing hands.
The other thing about renting is that it’s a wholly unregulated industry, which means anyone can set themselves up as a letting agent. This becomes a problem when inexperienced letting agents go bust or disappear overnight taking renters’ (and landlords’) money with them.
Thank goodness then for SAFEagent – a scheme created by agents to help make the lettings industry “safer” for renters. And what better time to remind ourselves of the positive work the scheme is doing than during SAFEagent Awareness Week which was marked today in the House of Commons.
In a nutshell, SAFEagent is an income protection scheme that aims to stamp out the devastating stories of renters being left homeless, cashless and without a legal leg to stand on when their letting agent collapses. The idea is that would-be tenants (and landlords) look out for the SAFEagent kitemark (pictured above) and choose their agent knowing they have income protection in place. This simply means that renters (and landlords) are protected if the letting agent goes bust or tries to rip off its customers.
It’s of course worth remembering that the vast majority of letting agents are reputable, however, the unregulated nature of the industry means risky agents do exist.
Today’s gathering at the Palace of Westminster was a great opportunity to hear from SAFEagent about their success. After launching to the public in September last year, SAFEagent already has close to 2,000 agents signed up and plans to expand even further. It’s backed by some big names including the Association of Residential Letting Agents (ARLA), the National Approved Letting Scheme (NALS), the Law Society and Royal Institute of Chartered Surveyors (RICS).
So whether you’re a renter or a landlord, the next time you use a letting agent, check they’re a SAFEagent first. It makes sense to be protected.
Our latest property asking price reduction research reveals that, despite some of the recent gloom in the housing market, the number of properties for sale in Britain that have been reduced in price since coming onto the market has actually fallen over the last three months. The average asking price discount has also fallen, despite the changes to stamp duty land tax (SDLT) in March.
One third (34%) of properties currently for sale have been reduced in price since first coming onto the market – down from 37% in February. The average discount on the original asking price has fallen by more than £500 over the same period. Average asking price reductions now stand at £19,012 (7.5%).
The drop in proportion and size of asking price discounts has emerged despite the re-introduction of stamp duty for first time buyers and the introduction of the 7% stamp duty tax on properties sold at over £2m.
The total amount knocked off the original asking prices of all properties currently for sale across the country stands at £2.9 billion, with £1.3 billion in reductions in London alone.
Newcastle tops the list of places where the biggest discounts are currently being offered by sellers with average reductions of 11.1% (£22,151). Sellers in Liverpool have also made large concessions, knocking 9.2% (£14,031) off their original asking prices on average.
Rotherham has the highest proportion of discounted properties for sale with 43.9% of sellers having cut their asking prices at least once. Other areas with a high proportion of asking price reductions include Swansea (42.5%) and Barnsley (41.6%).
So, when looking for property for sale or property to rent on Zoopla, don’t forget we offer a unique facility that allows you to sort your property search results by those that have been most reduced in price, highlighting potential property bargains!
Top 50 Areas with Highest Proportion of Asking Price Reductions
|Rank||Location||% of Homes on Market Reduced||Avg. Price Reduction (%)||Avg. Price Reduction (£)|
Beauty, luxury and service are three words often used when describing the Candy & Candy One Hyde Park development. Unique is one word we’d add to that list.
Below are pictures of ” C.08.01.” No, not a Star Wars related reference. Let us explain. “C” refers to the pavilions (tower block). C is one of four A-D. ”08″ refers to the floor level and “01″ the flat number.
This stunning 5-bedroom, 6 bathroom and 3 reception flat was first listed on Zoopla on 10th May. Some of its vitals are:
- 9,000 sq ft spread over two wings
- 65m long hallway
- The flat stretches across the entire floor plate of pavilion C.
Apartment C.08.1 is an exceptional apartment stretching across the entire floor plate of pavilion C and as such boasts magnificent views of both Knightsbridge and Hyde Park. The interior design of Apartment C.08.1 responds both to its unique size of over 9, 000 sq ft as well as its extraordinary location. The apartment is divided into two wings; the 5 bedrooms can be found in the city wing whilst all the living and entertaining spaces are in the park wing. The impressive 65metre hallway which stretches from the park side to the city side connects both wings, forming the spine of the apartment. The Candy & Candy interior design team has taken inspiration from the two diverse perspectives of London, which uniquely combine in this apartment, to provide a truly modern interpretation of sophisticated and luxurious city living.
Official sales figures and prices achieved for the apartments are somewhat of a secret, so we’re not going to speculate, however one thing is for sure is that we’ll be watching the progress of this sale with eagle eyes. Enjoy.
As always, please feel free to share and use these pictures/info, all we ask is that you credit the source as Zoopla.co.uk and link to Zoopla.co.uk and refer to the selling agent also – Aylesford & Co.