Property Today by Blackpool Gazette

A Gazette supplement

Thursday, February 12, 2009

Family gem

A beautiful semi â&#x20AC;&#x201C; turn to page 18

Thursday, February 12, 2009

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Justin Allitt, of Allitt Estate Agency, answers readers’ property questions

My partner and I have been in the process of selling Q and buying a home for what seems an age. We put a two bedroom flat in Lytham on the market at the begin-

ning of January. Finally, after more than two months and a significant cut in the asking price, we accepted an offer from some first-time buyers. During this time we had been looking for a three or four bedroom house in Poulton, but found very little that met our criteria. Then, four weeks ago, we saw something that fitted the bill. We viewed twice in the same day and put in an asking price offer of £375,000. The offer was accepted, but the estate agents asked us to not instruct our solicitor until the vendors had found somewhere of their own to buy. We were told this, in the estate agent's words, to prevent us from "wasting money on searches and surveys only for the sale to fall through”. Is our situation normal or should we have cause for concern, and is there anything we can do to move things along? To answer your question, yes, sadly your situation is perfectly normal. Home buying can be a drawn-out process, especially if you combine it with selling and are then at the mercy of other people’s decisions. You shouldn’t be suspicious of the estate agent, however, as they are giving you good advice. If the owners of the house you want to buy change their minds about selling because they can’t find somewhere to buy themselves, you could have wasted £500 or more if you had gone ahead with a survey and searches. As to what you can do to move things along, one option might be to sell your flat and move into a rented property. Living in rented accommodation means you don’t have a property to sell, which makes you more attractive to prospective sellers because you are not in a chain and can be more flexible about moving dates.

Q Private cars produce around 13 per cent of the UK’s A carbon emissions. When looking for a new home, think about how you can cut down the distances you will need to Being environmentally friendly, is there any thing we should think about when buying a property?

travel by car which will help reduce climate change effects. Good public transport links can help you cut car journeys. If you’re buying a property built since 2002 you could ask the seller about the property’s SAP rating (Standard Assessment Procedure rating). The SAP rating is based on the energy costs associated with heating, water heating, ventilation and lighting. When looking at properties, ask whether there is wall and loft insulation, and find out how old the boiler is. If the boiler is more than 10 to 15 years old it is unlikely to be very efficient. Replacing it could save you a third off your energy bills. When you’ve moved in, get advice on how you could save energy, by doing the Energy Saving Trust’s online home energy check

POTENTIAL buyers are continuing to return to the property market following steep house price falls and successive interest rate cuts, latest research shows. The Royal Institution of Chartered Surveyors said buyer inquiries rose for the third month in a row during January, with 16 per cent more surveyors reporting an increase in interest than those who saw a fall. The return of house hunters boosted surveyors’ optimism about future sales, with 10 per cent more surveyors expecting transactions to pick up in the coming months, than those who thought they would fall. The number of sales agreed during the three months to the end of January also stabilised, with the average chartered survey estate agent arranging 9.9 sales, down only fractionally from an average of 10 during the previous three month period, although the figure was still the lowest level on record. RICS spokesman Jeremy Leaf said: “The latest survey provides further evidence of the eagerness of buyers to try and pick up bargains. “This interest has yet to translate into sales but transactions may pick up in the coming months if the Government follows through on its recent announcement and introduces guarantees for the issuance of residential mortgage backed securities. “The latest cut in interest rates may improve confidence for those on the margins, encouraging buyers looking for more attractive finance deals.’’

BARGAIN HUNT: RICS spokesman Jeremy Leaf But surveyors remain gloomy about the prospects for prices in the short term, with 76.3 per cent more surveyors reporting price falls during January

than those who saw rises, up from 73.9 per cent more in December. Surveyors expect further price falls going forward, with confidence in prices falling to its lowest level in the survey’s history. RICS said the main factor that was depressing house prices was still the large stock of unsold homes on estate agents’ books, relative to the pool of able buyers. The average chartered surveyor estate agent had 75.4 homes on their books in January, 10 per cent less than a year ago and nearly 50 per cent down on the peak in March last year. The group attributed the fall to homeowners opting to rent out their property rather than sell it for a reduced price in the current market. Surveyors are most optimistic about sales rising in the south of England, with a balance of 38 per cent of surveyors in London expecting transaction volumes to rise, more than double the 18 per cent who predicted an increase in December. The number of surveyors reporting price falls also improved in the South East, the North and the North West during January, although it deteriorated elsewhere across England and Wales. In Northern Ireland the price balance reached its highest level since September 2007, although it still remains at a very depressed level, while there was also an improvement in Scotland.

Youngsters forced back home MORE than one million young people have moved back in with their parents in a bid to save money towards buying their own home, a survey has shown. One in five 18 to 24-year-olds admit they have either returned to the family home or put on hold plans to move out in order to save towards a deposit, according to high street bank Abbey. The group has dubbed this generation the baby boomerangers because of their inability to leave home. The study found that it is not just young people who are being forced to swallow their pride and move back in

with their parents, with an estimated 440,000 25 to 34-year-olds returning home. A further 471,000 35 to 44-year-olds have also failed to fly the nest and are again living with their parents in a bid to save money. Boomerangers are most likely to be found in the North of England, despite cheaper property prices there, with young people in the region accounting for a third of the total. Unsurprisingly, there are also high numbers of young people living with their parents in the South East, account-

INSIDE

residential agents 2-18 focus: Oystons housecall

Property team

property today

House-hunters back in market

An agent’s view

In association with Allitt Estate Agency Send your queries to Justin Allitt at 12 Wood Street, St Annes, or email stannes@allitt.co.uk

Thursday, February 12, 2009

Editorial: 01253 400888 EDITOR : Steve Singleton 2244

10 18

19-26 lettings focus: place2let 20 focus: Headway 25 commercial 27-29

SALES REPRESENTATIVE: Michelle Disley 2735

ing for 22 per cent of the national figure. Nici Audhlam-Gardiner, director of Abbey Mortgages, said: “Millions of Britons have realised that sometimes you have to take one step backwards in order to go two steps forward. “So while returning home or delaying your plans to move out might feel like a sacrifice, it’s actually a great opportunity to save enough money to put down a deposit on a property of your own. “This is especially important in the current market where the bigger the deposit, the better the mortgage rate you will be eligible for.’’

27 new developments 30-31 property focus 32 focus: Metcalf

Advertising: 01253 361810

TELEPHONE SALES: Darren Stacey 2748 COPY PROCESSOR: Tracy McCormaic 2759

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Signs of recovery Agency seeks properties to satisfy rising demand FOLLOWING the recent announcement from the Royal Institute of Chartered Surveyors, the National Association of Estate Agents is confirming a similar story. The chief executive of the National Association of Estate Agents, Peter Bolton King said: “Our members reported a slight upturn in activity towards the end of December, with both buyers and sellers showing an increase in interest. “Furthermore, early indications are that the market has picked up significantly in January.” Hayley Claber (above), director of the six-office Oystons group, said she couldn’t agree more. “December was far busier than we anticipated and January is well up on

expectations. We have seen investors back in the market for the last few months and recently, which is really good to see, is a significant level of interest from first time buyers. “We had thought until now they were an endangered species,” joked Hayley. “Our major difficulty at the moment is the lack of properties coming on the market.” If you have been waiting to see if the market improves, Oystons’ advice is not to wait any longer. If you are thinking of selling in Blackpool, Cleveleys or Fleetwood please call without delay for your free valuation on Blackpool (01253) 622225.

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Hidden treasure trove By JULIA BENNETT THIS stunning semi-detached house is truly deceptive. Behind the impressive gates are a number of hidden treasures including a beautiful conservatory and a generous garden. The rooms, which are decorated in neutral tones to suit all tastes, are divided between two floors. On the ground floor, the dining room features a double glazed bay window and lovely fireplace with polished wooden fire surround, marble hearth and living flame fire. Another beautiful fireplace can be found in the spacious lounge which also boasts wooden effect laminate flooring. The kitchen is fitted with a modern range of wall and base cupboard units and complimentary roll edge work tops. There is a built-

DETAILS Summary: Large semi-detached house with beautiful garden Address: Newton Drive, Blackpool Price: ÂŁ214, 950 Agent: McDonald and Co, 29 Whitegate Drive, Blackpool, (01253) 398498 in oven and grill, extractor hood as well as a one and a half bowl colour co-ordinated sink. The room is finished with a tiled floor and part tiled walls. Now up to the first floor where there are

three beautiful bedrooms. The first, which is decorated in lilac tones, would make a perfect childâ&#x20AC;&#x2122;s bedroom with plenty of space for a play area. Another bedroom is fitted with a green car-

pet and built in wardrobe to alcove. The superb modern family bathroom comprises a bath/shower, pedestal wash hand basin and low flush wc. There is a heated towel rail, tiled floor and walls and feature ceiling with down lighting. There is more on offer on the second floor where there is an attic room with access to eaves storage. Outside there is plenty of space for children with a large lawned area. A block paved patio area is ideal for summer barbecues and there are stunning raised rockery and flower beds to keep gardeners entertained. Outbuildings include a storage room and a utility room with light and power, which is plumbed for an automatic washing machine. The property has gas central heating. There is also a garage and excellent additional parking to the front.

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Rentals ride out financial crisis storm

LAST year saw a financial crisis never before seen in the banking history which affected the property market substantially especially with regards to selling property. Fortunately one of the few sectors in the property industry to ride through this financial upheaval was the rental market, which if anything became more stable and stronger through this uncertain period. Place2let acknowledges that at present there are slightly more properties available at the moment than there are tenants but because of this landlords are becoming aware of the need to be competitive both in the

quality of their houses and realistic in the rents they expect to receive.

This kind of competition can only be good for tenants in that they have a greater choice and place2let are seeing a vastly improved standard of home. This yearâ&#x20AC;&#x2122;s message therefore coming out of place2let to landlords, is that 2009 can be a very good year, regardless of all the negative opinions by financial and political commentators alike, as long as houses continue to be presented to a high standard and rents are kept at an realistic level.

We are now in a extremely competitive market and with all such markets it comes down to two basic principles, which are quality and price of the product and in this particular case the product being houses.

Place2let will always provide an honest opinion on what they feel a property will attain in rent, and also how it compares in standard to equivalent properties on the market. It is only then that place2let can achieve their aim of renting it out quickly and efficiently as possible for their landlords.

STRONGER MARKET: Staff at place2let in Highfield Road, South Shore

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Lettings experts MOST landlords will know the benefits of using an agent who is a member of ARLA. The Association of Residential Letting Agents provides full client protection for their landlords and tenants alike. With so many new names appearing in local newspapers and “To Let” boards appearing almost daily, it’s important to be sure that your interests are looked after and that you have protection for your property and rental monies. HeadWay the letting specialists’ own managing director is a fellow of ARLA who will ensure that you will have the very best service that an agent can provide along with the assurances of a professional company dealing with your rentals. As a company whose aim is to provide the very highest standards in letting they strive continually to improve service and standards.

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They advertise all their available properties on Propertyfinder.com – one of the largest property portals that the internet can offer, which integrates with their own interactive web-site and software. Their website can be found at www.headway.uk.net and contains information for landlords as well as an up-to-date list of available properties. All new instructions are added to both sites within 24 hours along with photographs, full information and location maps to make it easy to find properties. They also advertise in the local newspapers and magazines along with other relevant media from time to time. They are currently waiting to upload their property portfolio to propertylive. co.uk. This is ARLA’s own new internet portal which has been produced with NFOPP (the National

Federation of Property Professionals) and will no doubt prove one of the most extensive internet advertising sites and which will only be available to professional agents. Most landlords will be aware of the legal requirements regarding the letting of properties. As current regulations require many criteria to be fulfilled, some even before the property can be advertised, HeadWay have produced the platinum service This service will provide landlords with the peace of mind to

Thursday, February 12, 2009 property today

know that all of the legal requirements and more, are taken care of and that they have a rent guarantee and legal insurance cover in place. Please contact the office for further details. Why not contact them and discuss your requirements? They will do their utmost to provide both landlords and tenants with the very best possible service standards. Furthermore they operate a no let – no fee policy and their commissions are deducted from rental income – that also means that you pay nothing until a

tenant is found for your property. Other benefits include no administration charges for applications, free valuations, “out of hours” appointments, free management transfers plus many more. Call them today to arrange an appointment. HeadWay are letting specialists, not an estate agent

CONTACTS:

● 01253 857001 ● 0845 257 5715 (local rate) ● 07812825250 (mobile) ● headwaypm@aol.com (e-mail) ● www.headway.uk.net

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First-timers should hold off and rent EVEN potential first-time buyers who manage to save the 15 per cent deposit often required for a mortgage would be better off renting a home for the first half of 2009 in most areas of the country, says a new market analysis. Nicholas Leeming, director of propertyfinder.co.uk which carried out the survey, says: “First-time buyers are the bedrock of the housing market, but lenders are squeezing the life out of the market with the extortionate mortgage rates demanded from those trying to get on the ladder.

“Thousands are champing at the bit to take advantage of lower house prices, but simply can’t get a loan. No wonder first-time buyers are an endangered species.’’ The survey identified 70,000 two bedroom homes for sale, and 40,000 similar properties for rent – a total of 110,000 – and made certain assumptions: that buyers with a minimum 15 per cent deposit earn 3.5 per cent on their savings, and would get a five per cent interest-only mortgage if they purchased. Leeming advises potential buyers: “Look to rent until san-

ity returns to bank boardrooms. Short term lets are a good idea, but first-time buyers must be vigilant and poised to jump into the market quickly if mortgage rates come down. In the meantime, they should save hard for a deposit.’’ The survey suggests an answer to the “Buy or Rent?’’ question usually hinges on specific local factors. Of course, comparing advantages of buying and renting is not purely a financial calculation: renters, for instance, are in a more flexible position if they lose their job, or need to move quickly to a new one.

Landlords take the long view BUY-to let-landlords are continuing to take the long view over their property investments. They expect to hold them for up to 20 years and, even if house prices continue to fall, they do not intend to sell. ARLA believes these investors are maintaining the core growth in the private rented sector and providing the housing solutions for people in the recession. The proportion of investment landlords who do not expect to sell during the next 12 months has risen from 77 to 88 per cent. Instead, the annual life expectancy of residential property investments averages 16.3 years, with more than one in five investors expecting to maintain t investments for over 20 years. These investors report an average loan to value ratio across their portfolios of 56 per cent. Only a third estimate their loans to value at more than 76 per cent. The average rate of return on a buy-to-let investment over the past five years is 10.59 per cent for an outright cash purchase and 21.54 per cent for a mortgage-backed investment. Landlords say immigration from new European Union countries is having less effect on the rental market than before.

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Auctions defy slump METCALF’S were established in the 1960s and during their long reign as one of Blackpool’s most popular independent estate agents they have witnessed many ups and downs in the property market. Through their years of experience they have found that during difficult times auction sales always come out on top. Director, Hamze Ballout says: “In the current climate we are finding that auctions are the way to sell property. “Due to the credit crunch a lot of estate agents are struggling but at Metcalf’s we are as busy as always attracting a lot of clients who are ready and willing to buy at auction.” In 2008 Metcalfs had a very successful year selling over 50 per cent of their auction properties and are now looking forward to the year ahead. If you are thinking of selling by auction but are not sure if it is the right path for you, below are some answers to Metcalf’s most commonly asked questions:

Frequent questions about auction ● How much? Metcalf’s commission for selling at auction is two per cent + VAT (minimum £1,500) and they have a competitive auction entry fee of £300 + VAT. ● Why auction? It offers maximum advertising for your property and a quick secure sale to a buyer who has the funds available and is ready to exchange. ● How long? Once contracts have been signed it takes 28 days for completion. ● What happens if the property doesn’t sell?

They usually get post sale interest. However, if this isn’t the case, then there are three options. 1. You can withdraw the property. 2. You can put the property for sale on the normal market. 3. You can put it into our next auction for half price (£150 + VAT) ● How frequent are they? Metcalf’s is holding seven auctions this year and they take place approximately every two months. ● What is the first step? You would need to book a valuation. They are free of charge and you are under no obligation to sell your property with Metcalf’s. ● Can the buyer pull out of the sale? Once the buyer has signed the contract and paid the 10 per cent deposit, they are committed to the sale. If they pull out for any reason, they will forfeit their deposit and could face legal action from the seller. ● Will there be a reserve on the property? Yes. However this is usually discussed nearer the auction. The property will be advertised with a guide price. The reserve is confidential between Metcalf’s and the seller. Entries are now being taken for the March auction so don’t miss the deadline, guarantee your property a place and enter before February 13. If you want to book a free valuation or if you have any further questions regarding auction, you can call Metcalf’s on 01253 624047, or pop in and see them at 73 Topping Street, Blackpool. There has never been a better time to consider auctioning your property and seeing it sold!

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www.propertytoday.co.uk IF you think there is no way you can afford a stylish new home, then Miller Homes is urging you to think again. After helping hundreds of buyers across the UK move into a brand new home in 2008, the housebuilder is continuing to make new homes more affordable by extending the availability of its successful MiWay scheme across 17 of its 21 developments including Willow Fields in Wesham. Almost 270 homebuyers were able to move into a new Miller home last year, thanks to the initiative which enables purchasers to buy a new home without having to pay the full purchase price up front, but still own 100 percent of the property from day one. The scheme allows buyers to pay 75 per cent now and 25 per cent later with help in the form of long term equity loan from Miller Homes, with no interest or rent to pay (see www.millerhomes.co.uk/miway for details). Buyers who found their perfect home with MiWay are David Bailey and Rachel Weightman. David says: “MiWay helped us buy our first home together. I had previously owned my own home but this is the first time for Rachel. We found buying using Miller Homes’ MiWay scheme straightforward and I would happily recommend it to people. For us it was a really simple, easy process. We originally reserved a plot at the end of August and moved in once the property was completed in December.” According to Sue Warwick, National

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Such a simple way to buy a new home

Sales and Marketing Director at Miller Homes, the success of the scheme shows that confidence isn’t the biggest issue for most house hunters – it is affordability. “We believe in creating opportunities for all homebuyers and our MiWay scheme goes a long way in helping homebuyers move into their dream home. MiWay strikes a real chord with purchasers as buyers generally find themselves able to access some of the more competitive mortgage deals on the market. “People know that new homes repre-

sent great value for money and we are committed to assuring people that buying a stylish, high quality property is affordable with Miller Homes. New homes have never been more affordable, in fact there has never been a more opportune time to buy a new property, making it the best investment you’ll ever make.” For further information on MiWay and the range of properties available visit www.millerhomes.co.uk/miway or contact the regional office on 0870 336 4722.

First timers urged to move quickly WITH the number of new homes coming onto the market halving as inquiries are doubling, Bryant Homes is urging house hunters, in particular first time buyers, to make their move now to secure the best deal. The house builder has already sold 33 homes from 19 developments in the North West region, including Summerdowns in Garstang and Crossing Gates in Wesham, this year and is advising house hunters to make the move in 2009. This recommendation is supported by housing minister Margaret Beckett who is also warning that there is no time to waste as she believes another property boom may not be very far off. Beckett advised first time buyers not to delay buying as “when the upturn comes, there will probably be a mad rush” in a recent interview. Jason Newton, regional sales and marketing director for Bryant Homes, said: “This year is certainly a buyer’s market as proved by our excellent sales results so far in 2009. We’re advising purchasers to be proactive when it

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LUXURY LIFE: A Bryant Homes property comes to securing the best deal available.” Bryant Homes is offering a range of incentives and government backed schemes on selected properties at its developments. The housebuilder’s Market Plus scheme, which is available on selected plots, enables purchasers to buy their dream home but pay only 75 per cent of the purchase price now. Homeowners have the reassurance

that they own 100 per cent of their property from day one and only need to find a mortgage on the remaining 75 per cent. The other 25 per cent is provided rent and interest free by Bryant Homes for up to 10 years, at which point purchasers repay 25 per cent of their home’s current market value. The scheme is flexible, allowing purchasers to repay the outstanding amount early or even make smaller one-off payments up to three times during the 10 year period. Summerdowns offers a collection of three, four and five bedroom homes priced from £219,000. Crossing Gates is a stylish collection of mainly detached family homes, as well as some two and three-bedroom properties, with prices from £249,950. For more information on the range of new properties currently being offered by Bryant Homes in Garstang call Summerdowns on 0845 071 8734 or for properties in Wesham call Crossing Gates on 0845 071 8776or visit www.bryant.co.uk/northwest.

HAPPY COUPLE: Rachel and David in their new home

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property today Thursday, February 12, 2009

Terraced bungalow Idlewood Place, Thornton Cleveleys

£119,950

A WELL presented terraced bungalow, at the head of a cul de sac on a good sized plot. An entrance porch leads to a lounge, two bedrooms with built in furniture, shower room, kitchen and sun lounge. There is a long front garden with shrubs and roses. The rear paved patio has a water feature and garden shed. There is also a parking space and a garage with an electric door.

Entwistle Green (01253) 852341

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Semi-detached bungalow

£125,000

Ringway, Cleveleys

THIS excellent semi detached true bungalow comprises; vestibule, hallway, lounge, kitchen/dining room with built in appliances, two bedrooms, one with fitted furniture, bathroom and wc. To the front, a driveway leads to a detached garage and there is a gravelled front garden with decorative paving. The large rear garden is mainly flagged.

Oystons (01253) 866000

Seek out a dream home Dormer house Kenilworth Gardens, Blackpool

£184,950

A SEMI detached dormer home boasting many original features. There is a hallway, lounge, dining kitchen, bathroom, utility room, shower room and three bedrooms. One of the bedrooms has a fitted wardrobe and another a built furniture including a bunk bed. The front garden has trees and shrubs and a shared drive leading to a garage. The rear garden has a pond, decking, outhouses and a summerhouse.

Farrell Heyworth (01253) 341000

Modernised bungalow Rowland Lane, Cleveleys

£269,950

A RECENTLY modernised detached true bungalow situated in a sought-after location convenient for Cleveleys centre. The home offers a high standard of living accomodation comprising; vestibule, lounge, dining kitchen with solid oak units and built in appliances, conservatory, two double bedrooms and a modern bathroom. There are gardens to the front and rear, ample off road parking space and an integral garage.

Allitt (01253) 863030