Should England introduce a sealed bids process to stop gazumping? Property news roundup

Plus, homes with tennis courts, ''accidental' over 50s landlords, equity release rises, and the effect of the independence vote in Edinburgh

A new survey shows two thirds of homehunters in England would prefer a Scottish-type sealed bid process rather than the current system.

Of those surveyed by www.purplebricks.com, 57 per cent had been gazumped at least once and are now nervous of making offers and just under half said they felt it would be good to introduce something along the lines of the Scottish system of sealed bids to prevent being gazumped again.

Around 55 per cent also said that there should be fixed fines and penalties for estate agents who actively encourage gazumping.

"Surging demand and high property prices in recent years has meant that gazumping is real problem across the UK," said Purplebricks CEO Michael Bruce. "It used to be a prevalent issue for sought after locations in London but now, everyone is susceptible to it."

Homes with tennis courts

If Wimbledon has inspired you to buy a home with a tennis court, one of the nicest on the market (and with a grass court to boot) is this five bedroomed detached house in Oxwich, Gower, Swansea, pictured above, on with Savills for £950,000.

Over 50s landlords

Nearly a third of landlords aged over 50 have had tenants who’ve refused to pay rent, according to a new report. More than a quarter said tenants had damaged property and one in 10 have had to take legal action against tenants.

Around half of those surveyed in Northern Ireland by Saga Landlord Insurance had experienced problems with tenants' rent payments, while 17 per cent of over 50s landlords in the North East had taken legal action against tenants.

The research also shows the average over-50s landlord owns two properties, and just under half of them manage the property themselves.  'Accidental landlords' - those who did not plan to become a landlord but did so because of an inheritance or other financial reason - account for more than a fifth of landlords aged over 50. Around 12 per cent of 'accidental landlords' say they expect to inherit more properties in the future.

Equity release rising

The equity release market rose 26 per cent in the first half of 2014 according to Key Retirement Solutions.

Its figures indicate that retired homeowners cashed in more than £641 million in property wealth during the first six months of the year, while the average loan rose by 17 per cent to nearly £65,000.

The report says two thirds of customers use the funds  to pay for home or garden improvements while a third put it towards holidays, and 20 per cent used some or all of the money to pay off mortgages and just under a third to clear credit cards or loans.

Edinburgh property prices

Property prices in Edinburgh rose by one per cent between April and June, up 5.7 per cent on the same time last year and with a third more sales, according to Knight Frank. Edinburgh also accounted for just over half of all £1m+ sales in Scotland in the first three months of the year.

"However, while stock levels have increased and the number of sales has risen, there are indications that some buyers are waiting until after the result of the referendum on Scottish independence is known before considering a purchase," said Edward Douglas-Home, head of Edinburgh City Sales.

"One factor that tends to unsettle the housing market is periods of uncertainty, as individuals defer making long term decisions until the direction of policy is clearer."

Discover more property articles at Homes and Property
PROMOTED VIDEO
Arts and Entertainment
Frank Turner performing at 93 Feet East
musicReview: 93 Feet East, London
News
Toronto tops the charts across a range of indexes
news

World cities ranked in terms of safety, food security and 'liveability'

Extras
indybest
Voices
A mother and her child
voices
Voices
The veterans Mark Hayward, Hugh Thompson and Sean Staines (back) with Grayson Perry (front left) and Evgeny Lebedev
charity appealMaverick artist Grayson Perry backs our campaign
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Recruitment Assistant

£19000 - £21000 per annum: Recruitment Genius: Are you a friendly, confident i...

Tradewind Recruitment: Primary Teaching Assistant

Negotiable: Tradewind Recruitment: At Tradewind Recruitment we are currently l...

Tradewind Recruitment: Physics Teacher

Negotiable: Tradewind Recruitment: Tradewind Recruitment is currently working ...

Recruitment Genius: Case Manager - Occupational Therapist / Physiotherapist

£28000 - £34000 per annum: Recruitment Genius: This is an exciting opportunity...

Day In a Page

Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
Move over, kale - cabbage is the new rising star

Cabbage is king again

Sophie Morris banishes thoughts of soggy school dinners and turns over a new leaf
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Paul Scholes column: The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him

Paul Scholes column

The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him
Frank Warren column: No cigar, but pots of money: here come the Cubans

Frank Warren's Ringside

No cigar, but pots of money: here come the Cubans
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee