3 THINGS ESTATE AGENTS DO IN YOUR INTEREST THAT YOU MAY NOT KNOW OF

There has always been speculation and negative talk on Estate Agents, but we’re here to turn that around as we work closely with the agents on our portal. We’ve now curated a list of 5 things Estate Agents do in your interest that you may not be aware of:

TIP #1: Area Research

Estate Agents make sure that they have an in-depth understanding and appreciation for the community they are serving, as this will better their chances in assisting you in either selling your property or buying one. Either way, them having a closer understanding of the area benefits you in general.

TIP #2: Market Research

Estate Agents strive to be on top of the property market as this will aid them in negotiating prices with Landlords or vendors as well as helping you to understand when is the best time to make an investment in regards to anything property related.

TIP #3: Support other local businesses

Agents are always getting involved in local community events or supporting other local businesses in the area via sponsorships, campaigns and etc. Doing this allows Agents to have a close tie with the community and also, in turn, become your tour guide into the community.

So these are just things that Agents do in your interest!

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Also if you have any tips that you could recommend to us, share them in the comments and we’ll be highlighting them in our upcoming articles on Estate Agents and their services.

 

New research – shortage of homes in England set to reach a million by 2022

New research shows England is set to reach more than a million by 2022 in a shortfall in new homes in as the gulf between building houses and demand from a growing population widens.

England has seen a cumulative shortfall of more than 530,000 new homes since 2005. With a projection for the next five years suggests that the situation is not going to get any better.

Search provider Search Acumen analysis from conveyancing using official figures from the Office for National Statistics (ONS) suggests that there is enough brownfield land to provide the space to meet housing demand. They compared the volume of new homes completed in England each year since 1976 with new dwellings needed to accommodate the growing number of households over the same period.

With an estimation household growth by assessing annual ONS birth, death and migration data, and used the ONS’ average annual number of people deemed a household to determine how many new homes would meet the extra demand.

Taking a closer look at the gap that developed after 2005, the data can estimate the shortfall in supply created by the slowdown in new house builds. Between 2005 and 2016, more than 530,000 too few homes were built to meet the growing demand.

Search Acumen’s research also projected how many homes would be completed each year and how many more households would be created. If trends do continue, England will need an additional 510,000 homes to meet demand. This, on top of the current shortfall, means England could have more one million too few homes by 2022.

More than one million homes additional homes may sound like a daunting proposal in a relatively small country and to illustrate the amount of space needed Search Acumen theoretically speculated as to the amount of potentially available land for housing development in England by assessing only available brownfield and green belt land.

Finally, Search Acumen estimated how much green belt land could be theoretically affected. The research found that if housebuilders continued to build 14 domiciles per hectare on the more than 1.1 million hectares of green belt land in England, only 14% of all greenbelt would have to be turned over to developers to meet cumulative demand into 2047.

The housing market in all corners of England has ground to a halt as people struggle to find a home that fits their needs and their budgets. Our research suggests that, even with housing supposedly higher up the political agenda, the pledges made at the last election won’t do the job of keeping up with demand in the long-term after years of under-investment into new housing,’ said Andrew Lloyd, managing director of Search Acumen.

As supply has weakened, demand continues unabated with more dispersed households, an increasing number of births, and net migration unlikely to be affected by Brexit and proposed changes to border controls,’ he explained.

We face a future where first-time buyers are further squeezed by rising prices, and where those already on the ladder looking for an affordable home simply cannot. To make up for years of undersupply, we need to embark on the greatest housing boom this country has seen in a century,’ he pointed out.

But it is possible. We have space, we have the desire and we have tens of thousands of housing professionals in the private and public sector ready to go. We just need our leaders to share our industry’s sense of urgency and begin laying foundations for economic success right away,’ he added.

House Price Index – March 2013

House price increases down but inequality up, says the Office of National Statistics (ONS)

The Office of National Statistics today released the latest house price figures for March 2013, showing that the speed of house price inflation has slowed.

To give you an idea of the comparison at which the rise of prices has slowed, prices across the nation as a whole rose by 1.9% between February 2012 and February 2013.

That compares with a preceding yearly increase of 2.2% in the 12 months to January. Even though these statistics are based on a national coverage, there is however still areas in the UK that are not seeing this slower speed of house price inflation. The nationwide number reflected a broad inequality across different regions of the UK, which appears to be rising.

According to the Office of National Statistics, house prices in London are now rising at 5.9% year on year. Where as in Scotland and Northern Ireland, they have seen deeper house price falls then ever before.

Prices north of the border are declining by 1.2%, as those in Northern Ireland are down by a massive 7.7% over the last year. With stats not that off from London, Wales house prices are now at an increasing rate of 4.1%, up from just 0.9% in January.

Another region in the UK that is performing healthier than most is north-east England, where prices are up by 2.4%. Ernst and Young’s Item Club earlier this week predicted that house prices in the UK would actually stay almost at a standstill over the next two years.

Its prediction suggested that prices would rise to 2.1% in 2014, but recover to 5% in 2015.

National Statistics House price index 2013 (Download Here)

Future updates on the House Price index 2013

Monday 20th May 2013
Monday 15th June 2013
Monday 15th July 2013

With all this in mind, if you are thinking of moving, or buying your first or next property, why not start the search here.