Christies Market Review August 2013

 ChristiesWorld View: Rosebuds - http://bit.ly/13uPTq0

Boris launches London Rental Standard and tells landlords to sign up - http://bit.ly/14inPsp

Consumer sentiment reaches new high - http://bit.ly/14inHcv

Five ways to add value to your home - http://bit.ly/14inuWE

Home prices rise in June, says Land Registry - http://bit.ly/14i8mIL

Osborne finalises details of part two of Help to Buy - http://bit.ly/12X43we

"Further reports of rising housing market activity, both for new and existing homes,” says Bank of England - http://bit.ly/12X3Wki

The latest Christies House Price Index, uses the most up to date reliable data from the Land Registry, and also confirms that property in the local area continues to represent an outstanding investment.

Medium and long term gains are still exceptional. Based on past performance potential buyers will be very encouraged to see that prices have risen by 24% over the previous ten years and by an astonishing 150% over the previous 15 years.

What is perhaps even more impressive is that in spite of the much publicized down turn in the property market in 2008 prices are now only a mere 4% less than they were at the peak of the market.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for July are not yet available - the Index will be revised as soon as the data is released so please check this page regularly for any updates.

Date..............Average Price.........Average Price June 2013.......YEARS............INCREASE 

June-98............£102,638..........................£256,877......................15.....................150%

June-03............£206,901..........................£256,877......................10.......................24%

June-08............£266,388..........................£256,877.......................5.......................-4%

Over the years, and particularly in recent times, demand for properties in Cheam and Leatherhead and the nearby areas, such as Sutton, Dorking, Ewell, Epsom, Banstead and Kingswood, has increased dramatically. Much of this demand is due to the location of the properties we sell, which are ideally situated on the fringes of London, bordering rural Surrey greenbelt countryside with picture postcard villages and market towns full of rich heritage and character.

Buyers flood into the area to take advantage of a wide range of leisure and shopping amenities. The local schools are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Cheam Village & Leatherhead have flourishing local communities with many popular cafés, restaurants and varied independent shops and businesses; this, coupled with many high street names, creates an enviable mix of retail and food outlets. Combined with excellent road and rail links, demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the area and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the area and amenities. When looking at buying a new home, we believe it is imperative that our purchasers are fully informed about all aspects of the potential move.

Your estate agent should be able to answer any of your questions regarding this. We are proud to represent this area and convey that passion to anyone looking to move here.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Summary of the latest Property News flashes for July

ChristiesWorld View: Rosebuds - http://bit.ly/13uPTq0

Boris launches London Rental Standard and tells landlords to sign up - http://bit.ly/14inPsp

Consumer sentiment reaches new high - http://bit.ly/14inHcv

Five ways to add value to your home - http://bit.ly/14inuWE

Home prices rise in June, says Land Registry - http://bit.ly/14i8mIL

Osborne finalises details of part two of Help to Buy - http://bit.ly/12X43we

"Further reports of rising housing market activity, both for new and existing homes,” says Bank of England - http://bit.ly/12X3Wki

DCLG announce £220 million to fund 14,000 new affordable homes - http://bit.ly/12X3T8d

First-time buyer house prices to rise by 42% by 2020, claims National Housing Federation - http://bit.ly/12X3LFR

Six tips for reviewing a property - http://bit.ly/12LAfmk

Boost for housing market as home prices hit 5-year high -  http://bit.ly/12LA8qQ

Rents remained flat in June - http://bit.ly/12L5Jsw

Record level of optimism in the mortgage market - http://bit.ly/197iEwf

Property price growth revised upwards - http://bit.ly/12L5DkH

Office for National Statistics: "House prices up 2.9%." - http://bit.ly/12L5A8u

Pick up in house price growth continued in June - http://bit.ly/13uS8um

Record level of optimism in the mortgage market - http://bit.ly/197iEwf

More positive news for house prices - http://bit.ly/197iJjJ

Viewcycling: Make the most of your property viewings -  http://bit.ly/197ixAV

First-time buyer numbers at six-year high - http://guardian.co.uk  http://bit.ly/13Fdma4

The true cost of buying a home - http://bit.ly/13GMlD9

Home prices at three-year high - http://bit.ly/15vJHxU

BBC News - House prices to keep on rising, say Rics members - http://bbc.in/15vJdb4

House prices up 4% – did anyone predict this rise? - http://bit.ly/17ZdKBT

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Rosebuds

Nick Churton at the London Mayfair Office looks at a resurgent property market that promises a great deal but still needs handling with some care.

An ageing population and a need for many to adjust their lifestyles accordingly will have an effect on the property market.

The baby boom generation now looking retirement in the face; the knock-on effect of the financial crisis; the need for many to help their twenty- and thirty-something offspring get onto the housing ladder and the desire to live in less demanding and extravagant houses that are far too big for ageing owners - all these things can’t occur without impacting at some stage on the property market.

For many the answer is downsizing. Far from being seen as a retrograde step it is increasingly becoming an opportunity to engage in a more active and expansive life of travel and adventure.

More and more downsizers are creating a new dimension in the property market. Larger flats and smaller elegant houses in and around suitable towns and cities, where upkeep is minimal and amenities are close at hand, are increasingly sought after. Once living in these owners can lock-and-leave when they head for foreign parts, the golf course or a long-wished-for second home.

All this is exciting but with it comes pressure to provide suitable housing and a hanging question over who will buy the larger houses they leave behind. Despite concerns over a mansion tax and a greater than ever desire to live within one’s means we think the market for larger houses will remain strong but only if prices astutely reflect the mood of buyers.

So, with the market in visible recovery, this could be a very good time for savvy sellers to downsize. Government initiatives over the coming months should further stimulate the market and low interest rates for the time being will tempt housing ladder climbers. We don’t know what the long-term market future will be. But we do know that a move now will take advantage of an extraordinary set of market conditions.

Planned well and executed skilfully - with the help of a mature and knowledgeable estate agent -downsizing can be fun. Remember, "Gather ye rosebuds while ye may/Old time is still a-flying" . . .

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Latest Property News From Around The Web

First-time buyer numbers at six-year high - http://bit.ly/13Fdma4 

Home prices at three-year high - http://bit.ly/15vJHxU

The true cost of buying a home - http://bit.ly/13GMlD9 

House prices to keep on rising, say Rics members - http://bbc.in/15vJdb4

House prices up 4% – did anyone predict this rise? - http://bit.ly/17ZdKBT

'Energy saving measures boost property values' - http://bit.ly/13uSuRy 

Banks expect credit availability for households to increase - http://bit.ly/17ZgWgZ

Pick up in house price growth continued in June - http://bit.ly/13uS8um  

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Proceed . . . but with caution

Nick Churton at the Christies Mayfair Office in London looks at a resurgent property market that promises a great deal but still needs handling with some care.

July 2013 - there is a new man at the helm of the Bank of England. The Chancellor’s stock has risen a little of late, the manufacturing sector is showing signs of improvement, the people’s bank, RBS, has just found £20 billion behind the sofa to lend to small businesses and the British Chambers of Commerce says that business confidence in the UK is at its highest level since 2007. We also learn that growth in the economy is marginally stronger than was suspected. Month by month we see small but encouraging steps on the path to a fiscal recovery.

But there is one harbinger which heralds an economic change unlike any other - the property market. Few signs can illustrate more how the mood is changing. In this respect we are now seeing mortgage offers on the rise, more first time buyers entering the market – some through the government's new initiatives – and more sales completions than at any time since 2006.

It has been a long time since the last boom and it has been a difficult period all round. But now there is a feeling of greater optimism with more people deciding that the time is right for a move. This is great news for everyone as this increased activity feeds through to the rest of the economy.

But we should also remember that memories tend to be short when the market strengthens and money can be made. Let’s not forget the looming threat of negative equity during a period of fragile recovery.

Interest rates are at rock bottom. But that won't last forever. When rates do increase some chickens will come home to roost. As an estate agent of course I want to encourage home ownership. But as an estate agent I never want to go through the past seven years again. Nor should anyone else. Very careful and responsible home purchase made within means and with a weather eye on the medium term should be a fundamental consideration when choosing property today.

My company advocates responsible home purchase and I hope that the rest of the industry follows suit – not just for the sake of the individual or the property market but also for the UK economy as a whole.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Christies Market Review - July 2013

Home prices higher in June, says Rightmove - click here

UK house prices rise at fastest annual pace since 2010 - click here

London house prices outpace rest of the UK like never before - click here

Supply of residential property in London unlikely to keep up with demand over next decade - click here

Number of UK homes sold in last 3 months reaches highest levels since January 2010 - click here

Help to Buy boosts new home reservations - click here

A great place to learn more about Cheam and its history - click here

The latest Christies House Price Index, uses the most up to date reliable data from the Land Registry, and also confirms that property in the local area continues to represent an outstanding investment.

Medium and long term gains are still exceptional. Based on past performance potential buyers will be very encouraged to see that prices have risen by 24% over the previous ten years and by an astonishing 154% over the previous 15 years.

What is perhaps even more impressive is that in spite of the much publicized down turn in the property market in 2008 prices are now only a mere 4% less than they were at the peak of the market.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for June are not yet available - the Index will be revised as soon as the data is released so please check this page regularly for any updates.

Date............Average Price.........Average Price May 2013.......YEARS............INCREASE

May-98............£101,886..........................£259,077......................15.....................154%

May-03............£208,201..........................£259,077......................10.......................24%

May-08............£269,334..........................£259,077.......................5.......................-4%

Over the years, and particularly in recent times, demand for properties in Cheam and Leatherhead and the nearby areas, such as Sutton, Dorking, Ewell, Epsom, Banstead and Kingswood, has increased dramatically. Much of this demand is due to the location of the properties we sell, which are ideally situated on the fringes of London, bordering rural Surrey greenbelt countryside with picture postcard villages and market towns full of rich heritage and character.

Buyers flood into the area to take advantage of a wide range of leisure and shopping amenities. The local schools are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Cheam Village & Leatherhead have flourishing local communities with many popular cafés, restaurants and varied independent shops and businesses; this, coupled with many high street names, creates an enviable mix of retail and food outlets. Combined with excellent road and rail links, demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the area and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the area and amenities. When looking at buying a new home, we believe it is imperative that our purchasers are fully informed about all aspects of the potential move.

Your estate agent should be able to answer any of your questions regarding this. We are proud to represent this area and convey that passion to anyone looking to move here.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Spring Has Come Late

There is a change in the air so Nick Churton of Mayfair Office takes a seasonal look at the property market.

It has been a long time coming. The seasons are out of kilter and flowering is very late. But now the climate is warmer. Things are stirring. People feel better. There is a mood of renewal and a fresh start. I speak of course of the property market. It has been a very long winter - about seven years of property winter in market terms. Some people who are new to the property industry have never had experience of working in a burgeoning market. All they know are falling prices, low activity levels and stalemate.

So the market at present must be rather a shock to them. Instead of endless days of waiting for something - anything - to happen, suddenly it is happening. Spring has sprung. In many places around the UK property is coming onto the market in very high numbers. Sales are also on the up.

What has caused this change? Is it governmental involvement and initiatives? Although they probably would like everyone to think so I very much doubt that it is. Rather it is people who have sensed that the time is right for a move - and if not quite as right as it could be, as right as it has been for many a long year.

Governments don't make markets. Indeed it often seems to be the other way round. Confidence makes the property market, which in turn drives so many areas of our economy.

So there are strong signs that the market is more active now than it has been for years. This is led by low interest rates, an increase in lending, more new home starts and a population fed up with property austerity - whilst feeling a bit better about things in general. The younger people in the property market won't know what has hit them. Nor will those home-buyers who wait too long to make a move if this property spring becomes a summer.

But one word of caution. One swallow does not a summer make. We have a little way to go before we can say with full confidence that the market is on a sustained path to recovery. Homeowners can have short memories when their prized asset may once again be rising in value. But we know only too well that property can go down as well as up. This is a time to step forward boldly - but never the less to watch that step carefully. This is not yet the time for sellers to get bullish with their prices, or for buyers to get into anything that might quickly become unaffordable if another cold wind blows.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com