Property news roundup: Shortage of semi-detached homes for sale
Plus, school catchment areas, rent rises, TV in the bedroom and buying with Bitcoins
Monday 28 April 2014
Around 57 per cent of estate agents across the UK report a shortage in the number of semi-detached homes for sale.
Just over half of estate agents surveyed by Move with Us also believe there is a shortage of bungalows.
Its report also suggests that the average selling time for a three bedroom semi-detached property in Britain is now 71 days, 55 days faster than the national average selling time for all properties.
Robin King, Director at Move with Us said: "Many home buyers are now opting to purchase three bedroom properties as their first home. They’re skipping the first rung of the property ladder, forgoing the starter home and moving straight into a property that they can grow into."
Buying with Bitcoins
According to Tom Bill at Knight Frank, this is what 50,000 Bitcoins would have bought you in London:
July 2010 - Less than one square foot of an eight-bedroom mansion house in Mayfair
May 2011 – A studio flat in Croydon
June 2011 – Two bedroom flat with river view in Wapping
November 2013 – Six bedroom terraced house in Kensington
December 2013 – Eight-bedroom mansion house in Mayfair with home cinema and swimming pool
March 2014 – Three-bedroom penthouse in Mayfair
House prices and schools
Figures from Savills and the Good Schools Guide show, unsurprisingly, that house prices in catchment areas for the country's 35 most popular state schools are significantly higher than those outside them.
Their report indicates that these local property bubbles mean sought-after houses are averaging 22 per cent more than nearby homes just out of catchment.
The biggest state school premium was for houses within the Altrincham Girls’ Grammar, catchment, followed by Henrietta Barnett in Hampstead Garden Suburb.
Rents in Great Britain rose by one per cent in the last year, according to latest government figures- the highest rise was in London (1.4 per cent) followed by both the South East and South West at one per cent. In Scotland, rents rose 1.3 per cent and in Wales 0.6 per cent.
North East property report
KIS Lettings has launched a monthly report on the state of the North East housing market which aims to give expert regional property advice which is more than "a footnote to London".
The first edition names Jarrow as the region's 'Best to Invest' with above average house price rises, affordable rents and competitive yields for landlords. Gateshead is named the best place in the region to rent, and Whitburn the recommended area to buy this month.
The report also suggests that North East property prices have risen by 4.5 per cent in the last year, with an average property in the region valued at £137,411.
Three beds in London up £727 a day
The average price of a three-bedroom property in Prime London has risen by £729 per day during the last year, according to estate agents Marsh & Parsons. It estimates that at the current rate of increase, the average price of a Prime London property will be above £2m by 2016.
Peter Rollings, CEO of Marsh & Parsons, said: "These are extraordinary times for the Prime London property market. Smart buyers can earn more money from their house in a year than by going to work in a very well-paid job."
And now it's worth...
New research from eMoov indicates that one in four people who own a home in London check the value of their property every week compared to a national average of six per cent.
Do you have a TV in your bedroom?
Then you’re more likely to get two and a half hours less sleep a night than someone without one, according to figures from foam mattress specialist Ergoflex. A quarter of those surveyed watched news late at night in bed, while a fifth made time for TV series which were on at the same time every week. Around 16 per cent watched DVDs, 11 per cent just flicked through channels to watch anything, and only four per cent chose documentaries.
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