How stressful is homehunting? Property news roundup
Plus, prices near stations, effect of interest rate increases, TV campaign and the effect of Scottish independence
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Monday 01 September 2014
One in three people say that buying a property is as stressful as the end of a serious relationship or caring for a sick relative, while one in five say it's as bad as a relative dying.
The poll from Ocean Finance also shows that around 45 per cent of people who have bought in the last five years said that finding a place they wanted was the most difficult part of the whole process, compared to a third who said applying for a mortgage was the worst element.
Prices near stations
Nationwide has done some research comparing house prices near tubes and railways stations in London, Manchester and Glasgow - it suggests (unsurprisingly) that people are willing to pay a significant premium to be close to a station in all three locations.
"The impact is most marked in London," said Robert Gardner, Nationwide's Chief Economist, "where being located 500m from a station attracts a 10.5 per cent price premium over an otherwise identical property 1,500m from a station. This is equivalent to approximately £42,000 based on the value of the typical London home."
In Manchester, the premium on a typical property for being 500m from station is 4.6 per cent or£8,300, while in Glasgow the premium is six per cent (£9,400).
"London homebuyers’ willingness to pay a greater premium for being close to a station compared with those in Greater Manchester and Glasgow probably reflects the greater reliance on public transport in the capital, with residents less likely to drive," said Gardner.
According to the report, average house prices are over £800,000 in areas where the nearest station is on the Circle line, while average house prices are least expensive where the nearest station is on the Metropolitan line.
Half of homeowners will struggle if mortgage rates increase
Research from credit information provider Equifax reveals that more than 50 per cent of UK homeowners believe an interest rise of just one per cent would mean that they would struggle financially to meet an increase in their monthly mortgage repayment.
"The issue that many homeowners are currently facing is the uncertainty surrounding interest rates," said Andrew Webb, Sales & Marketing Director of Equifax. "When asked how much a potential rise of one per cent would affect their monthly mortgage repayment, 40 per cent of homeowners did not know, with those living in Wales the least certain at 57 per cent."
The National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents (ARLA) has launched a new regional television campaign to raise awareness of the importance of using an NAEA or ARLA licensed agent.
It will be aired across UK regions at prime viewing time around programmes including Emmerdale, Coronation Street and ITV early evening news.
Mark Hayward, Managing Director of NAEA, said: "Our new advertising campaign will highlight the importance of using a licenced NAEA or ARLA agent to ensure consumers receive professional, expert advice. Homeowners or tenants can trust they will be fully protected and supported throughout the buying or letting process as NAEA and ARLA members follow a strict code of conduct."
Independence would lead to higher mortgage rates
A report by estate agents Strutt & Parker has looked into what will happen to the Scottish housing market if the electorate in Scotland votes for independence later this month.
It concludes that the uncertainty over currency means it is difficult to predict exactly what mortgage lenders will do with existing Scottish customers, while a new currency could be volatile and lead to higher interest rates.
The report adds that uncertainties around currency and credit risk could deter buyers from entering the market and lead to a significant effect on house prices, probably driving them down north of the border.
Surrounded by woodland, this five-bedroom manor house has plenty of outdoor storage space in the form of three converted loose boxes, two smaller outhouses and a woodstore.
This four-bedroom detached home comes with a double carport, useful workshop, garden and two walkways that offer views of the adjacent countryside.
With space for an equestrian business, a greenhouse for growing your own veg, a wine store and a gym; this five-bedroom home has all the ingredients for a country retreat.
This four-bedroom home has exposed brick chimneys and a vaulted ceiling in a breakfast room that's ideal for summer entertaining - the doors open to the patio and garden.
The decked roof terrace of this two-bedroom flat is perfect for summer drinks while large windows and ample storage space make for a light and spacious interior.
Surrounded by approximately 15 acres of grounds, this six-bedroom grade II-listed home has been extensively refurbished yet retains many period features.
This four-bedroom home comes with a two-bedroom cottage and commercial office, with planning to extend, in a stunning courtyard setting.
In a pretty Norfolk village, this four-bedroom family home is surrounded by landscaped gardens, with even a self-contained annex for guests.
A few miles from the seaside at Perranporth, this four-bedroom farmhouse sits amongst nine acres of idyllic grounds - including a lake and two barns used as holiday lets.
This five-bedroom home is arranged over three floors of a converted Victorian hospital, offering spectacular views of the Pentland Hills - only three miles from the city centre.
This four-bedroom detached home comes with grounds that span to approximately 2.5 acres, as well as two large patio areas and a double garage.
This four-bedroom cottage is a Grade II-listed town house, well-located for the thriving market town of Nailsworth.
A four-bedroom apartment on the ground floor of a stunning period property in North Yorkshire, with two kitchens and a large south-west facing garden.
This high-spec two-bedroom home is part of a smart collection of new flats at Beaufort Park and has a large decked balcony that's perfect for summer drinks.
Capitalise on the fabulous views of Trevone Bay by taking two homes and creating one spacious boutique B&B. Just a cliff-top walk from Padstow.
Overlooking a golf course, this six-bedroom Edwardian detached home spans four storeys and retains many period features including the original, operational servants' bells...
On the edge of the city, this six-bedroom home comes with an outdoor swimming pool and a large garage block that has annexe potential.
In a Grade II-listed manor just outside of Bath, this three-bedroom home is arranged on two floors with a skylight in a vaulted roof line.
Open the living room's bi-fold wooden doors to reveal a retro-style kitchen, and a conservatory leading to a paved garden at this three-bedroom home.
A Grade II-listed, four-bedroom home, in a charming Somerset village, with a two-storey studio that could be converted into a holiday cottage
A modern four-bedroom Victorian home, within walking distance to the high street
A luxury apartment in the Gothic mansion of Wyfold Court in Kingwood, offers six bedrooms spread over three floors and a turret
This school conversion, near Stockwell Tube, oozes New York loft style. The one-bedroom flat features double height ceilings and exposed brick work
This six-bedroom Georgian home is on three floors with open fireplaces, a two-oven Aga, an annexe, and cottage gardens with outbuildings and a car barn
High Crest House covers an impressive 9384sq ft, with almost three acres of grounds including a tennis court and summer house enclosed by electric gates
A six-bedroom farmhouse with separate accommodation in converted stables. Situated in the village of Church Aston, within walking distance to the market town
A two-bedroom flat with under-heated walnut floors and bespoke built-in storage. The Tube and Clapham Common are a short stroll away
A refurbished seven-bedroom townhouse with staff quarters, cinema room, superb gym, steam room and plunge pool
A minimnalist four-bedroom home designed to the highest spec, featuring glass walls and a kitchen space lit by a glass roof
Hibernate during winter and make your living during the summer at this busy guesthouse with panoramic sea views, in the village of Lynton
A four-bedroom penthouse next to the Tate with direct views of St Paul's from two floors of luxurious living space
A four-bedroom detached home surrounded by spacious gardens and woodland, close to New Pudsey
An 18th-century, three-bedroom home near Langstone Harbour built from ships beams with vaulted ceilings and wood burning stoves
A five-bedroom semi-detached home with a mix of period and modern features in a popular and convenient location
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
A boutique mews house, set around a central courtyard, with three bedrooms and a private roof terrace
A four-bedroom farm-conversion with three bathrooms and two reception rooms
A two-bedroom detached house with ensuite bathrooms and a sun-drenched decked terrace, £750,000
A modern and spacious two-bedroom, penthouse flat with two bathrooms in a prestigious development
A beautifully renovated five-bedroom terrace with three reception rooms and a courtyard garden, £700,000
A four-bedroom period house which has been extended to provide almost 2,500sq ft of living space, £675,000
A pretty three-bedroom Georgian home with a 22ft drawing room and a master suite with a balcony, £525,000
A substanstial family home with five bedrooms and landscaped gardens in the much sought-after Branksome Park area
A well-presented three-bedroom house with front and rear gardens, close to White City station, £475,000
A handsome five-bedroom house in a sought-after location close to the city centre
A five-bedroom country home with valley views, equestrian stables and 27 acres of land, £725,000
A six-bedroom farm house with separate, detached cottages and 371 acres of land
A two-bedroom cottage with parquet floors, chunky beams and an open fireplace
A three-bedrrom flat with 2,733sq feet of living space, a beautiful private garden and 15 acres of communal grounds
A four-bedroom chalet bungalow with three bathrooms and a spacious garden, £525,000
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