Posts tagged ‘Zoopla!’

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.

22.07.14 Crime 2

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.

house prices 8

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

Vast majority of commutable London housing unaffordable for average Londoner

Less than one in 10 people who work in London can afford to buy a typical property within an hour’s commute of the capital, exclusive research from Zoopla can reveal.

Commuter

The figures are the latest evidence of the struggle ordinary workers, on an average wage, have when it comes to buying a home.

With property prices in London rising more than £60,000 in the past year alone, many potential buyers will be widening their search – particularly if they have families and are looking for more space.

But the Zoopla figures show they will be forced to look further afield than even they anticipated.

Just nine per cent of properties for sale within an hour’s commute of the capital are within a buyer’s budget if they earn an average London salary of £33,965.

proportion_purchasable

Jonathan Harris, of mortgage brokers Anderson Harris, said: “It is not just London which has enjoyed significant house price growth, but the surrounding areas have also seen prices rise over the past few months. This has meant that those spreading their net and looking to buy cheaper property outside of the capital are finding it is not that easy with family homes in particular at a premium.

Jonathan Harris“Commuters are having to look further afield beyond the magic ‘one hour maximum’ commute for an affordable home, which is do-able if you don’t have to be in London every day of the week. Otherwise, it can put a strain on family life, with fathers in particular having to leave the house before the children are awake and returning after they’ve gone to bed.”

The calculation is based on a buyer with a 25 per cent deposit and borrowing a maximum of 4.5 times their annual salary.

It means someone earning around £33,000 would be able to afford to buy a property valued at £200,000.

Zoopla can reveal a worker needs to earn more than £90,000 a year to buy an average London property valued at £567,392 – restricting them to less than 70 per cent of homes for sale that are within an hour’s commute of London.

The figures are based on a maximum income multiple of 4.5 times income. Borrowers have previously been able to secure higher income multiples, but fears about the property market overheating in London have led to the Bank of England introducing new measures.

It is restricting the number of homeowners able to borrow more than this amount.

By October, banks will only be able to lend 15 per cent of their total residential mortgages at or above this level.

The Zoopla figures also reveal that despite a £282,500 income, workers would still not be able to afford 5 per cent of homes within an hour’s commute of the capital.

July 7, 2014 at 12:15 PM 1 comment

Zoopla continues to paint the town purple

Zoopla is continuing to paint the town purple with its latest billboard advertising.

09.06.14 Advert 1

New posters can be seen in some of the most high profile advertising locations available, including two double-sided tower screens on the A4 Hammersmith flyover.

This section of the A4 sees large volumes of traffic, including daily commuters and people from overseas travelling between Heathrow and Central London.

The iconic digital gateway to the UK’s Capital regarded as the UK’s best digital advertising opportunity

 

More adverts can be seen in the City and on the prominent Holland Park roundabout.

09.06.14 Advert 2 09.06.14 Advert 3


Have you seen one of these outdoor adverts? Did it inspire you into prose or poetry?

Let us know by leaving a comment and you could win some Zoopla goodies.


14.03.14 Adverts 2

Competition ends June 13 at 11am, please enter a valid email when commenting so we can contact the winner.

June 9, 2014 at 2:20 PM 1 comment

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