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The RICS housing market survey for October reports that despite the slowest rate of sales since 1978, there might be some signs of deceleration in market decline. The market survey shows that the average number of completed sales per surveyor fell to 10.9 over the past three months, the lowest level since the survey started in 1978. Although the balance of surveyors reporting a fall rather than a rise in house prices fell to 81.8%, from 84.5% in September. London was the worst performer, with an average of just 6.4 sales per surveyor, less than half the figure in the West Midlands, where surveyors had 15.3 sales on average. In Wales and East Anglia the figure was nine sales, while the North-east fared better with 16.
Net balances for new buyer enquiries and newly agreed sales also improved for the sixth consecutive month, suggesting that the drop in activity slowed in the second and third quarters.S surveyors are increasingly optimistic that business will improve in the next three months, with expectations rising to their highest level since March 2007. RICS spokesman Ian Perry said: “The general lack of mortgage finance remains a major blockage in the housing market for a large majority of would-be buyers. Fortunately, many vendors have finally started to accept current market conditions and are dropping their asking prices to achieve a sale...Sales should increase in the coming months as more and more sellers understand that greater realism is the only way to make that long desired move.”
 It is not uncommon to hear someone try to pick up a house on the cheap by dropping a begging letter through the post box asking if the owner would be keen on selling their house, without going via an agent.
Whilst the majority of us would probably not turn an offer of £200m down, Jon Hunt the previous owner of Foxtons, certainly did. It is claimed in the Times that Aditya Mittal slipped a note into his neighbours letter box asking if Mr Hunt would be keen on exchanging for £200m. Given that Mr Hunt paid £14m for the property, despite extensive renovation works, he turned it down. I know what I would have done...
Research from independent financial adviser, Heartwood Wealth Management, said 5.5 million British parents have given £116 billion to their to their children to help get them onto the property ladder, with an average contribution of £20,921 per child.
Over 150,000 parents have already given their offspring over £100,000 to help in the purchase of their homes. Or offset a little bit of tax..
Of those parents who have extended their wallet, 10% expect it back.
Puts you off having children..
 The Times is currently running an interesting article providing their definitive list of towns they consider are the richest.
With the assistance of Savills(what a great bit of free marketing..) they have gone around the country offering comments and statistics to back up their thoughts. There will always be a dispute when someone presents such a list, which is to be concluded on Sunday. Addiction to such a list is quite normal, ensuring that your own place is in the list or as some would want it, not on the list at all. In a veiled attempt to show that everything is great in the Property Market, it is a welcome distraction. That aside, the most amusing element of this article is the sometimes caustic comments from the readers. We will report the list in full next week
 The incentives provided by house builders have had to increase to attract purchasers.
In a bid to stem the reducing levels of reservations, which both Persimmon and Barratt are reporting are down 20%, a variety of offers are being made available. Barratt are offering first time buyers the opportunity to buy 100% of the property for 75% of the purchase price as part of their interest free loan scheme. Despite viewings holding firm, the number of new starts has decreased compared to last year by up to 40%. As an indication of the type of deals on offer, one purchaser reported in the Times bought a property from Fairview had her 5% deposit paid by the developer, gave her £1,000 cash back and furnished the flat with £5,000 worth of goods, including linen and cutlery. Meanwhile B&C Developments in Hampshire are offering a BMW worth £19,000.
 This morning we showed you the glory of the Top Whack Mansion set in leafy Barnet..
This afternoon we uncover a more flexible house. Currently on display at the Tate Modern is the Maison Tropicale. A house designed by the French Architect Jean Prouve for 1950's Colonial West Africa. The house was 'found' in the Republic of Congo in a dilapidated condition, full of bullet holes. It was dismantled and brought back to France where it has undergone repairs. As strange as it seems to flat pack a house back to France for repairs and then ship it over to the UK to display, it was one of three houses by the architect that was designed to be transported. Using light steel and aluminium it is ideal for both transport and hot climes. Not really suited for January by the Thames! It can be seen until 13th April
 Research from one of the leading on-line residential property search engines suggests that the recent slump in housing prices is partly due to the introduction of the HIPS.
December is always known as a slow month, with records showing that house price drops have occur ed over the last three years nationwide. However this month there has been a greater drop and statistics show that the HIPS has played its part. But for how much longer? At a time when the market is normally quiet, Rightmove.co.uk believe that slump has been partially caused by an oversupply of two bedroom properties an increase from 38% to 48% Whilst it is easy to carried away with some of the pessimistic reporting seen in the press, anything can happen in a month -you only need to look at the new England manager suggesting he can learn English in a month.. some of the players still struggle..
 Nick Leslau has taken a small punt that house prices will rise again.
When we say small punt, we really mean a £234m bet with one of the largest re-insurance companies, Swiss Re. The deal is based on a portfolio of 3,400 properties owned by Swiss Re, where equity will be released back to the homeowner seeking a lump sum of cash. Swiss Re and its shareholder will be entitled to a share of the property. When the property is sold in the years to come, Swiss Re and in this situation Leslau's company Prestbury will be entitled to a percentage of the sale, where it is hoped there will be a rise in the the capital growth of the property. This ten year bet is considered to be the largest residential property deals in the UK this year. We will be sticking to our forecast at Walthamstow dogs on a Tuesday night...
 On the day the expected news arrives that house prices have dropped sharply in November by a massive 1.1%, we also see the Government has offered local authorities £732m to go and build new homes.
The slowdown in the market has seen a few wobbles from the leading house builders and has also put off buyers coming to the market. Chief economist at the Halifax reports that whilst there is concern in the market, "Strong market fundamentals, a structural housing supply shortage and pent-up demand from a large number of potential first-time buyers will support house prices, preventing a sustained and significant fall," Meanwhile in an attempt to undermine this theory the Government is expecting Local Authorities to fund 3 million new homes by 2020.
TESCO, the UK's biggest supermarket chain, is increasing pressure on estate agents by entering into the lucrative British property market.
Sellers will be able to list their homes on a Tesco website for a one-off fee of about £200 – dramatically undercutting estate agents who charge £3,500 for an average £200,000 house. The service includes online advertising and the supermarket says it will enable sellers to effectively become their own estate agent. They will be able to upload up to 20 pictures of their property and arrange viewing dates with buyers directly. The site also offers details about local schools and amenities – and gives pin-sharp aerial views of locations. The supermarket has linked up with various experts giving advice on insurance, conveyancing and other legal matters. aura Wade-Gery, CEO Tesco.com, commented: “Over 1 million families a year move home, typically following a life changing event like an addition to the family or a career change, and for many it’s a confusing and stressful experience. “Tesco Property Market offers a 'one stop shop' for everything related to moving house, and we hope this will make life a little simpler and save money for many home movers........it is the latest of our retailing services. For the home mover, it brings together our simple, convenient and affordable products in financial services, telecoms and home shopping.”
 Once again we read through the mixed bag of property statistics, giving the reader every chance of a smug 'told you so' feeling.
Reading through the Sunday Times, we are being told that parts of London are going up whilst other parts are going down. Landlords are buying, Welsh market is slowing, 23% surge in the increase in homes on the market. 26% rise in the number of new homes. If that is not bad enough if you are 47 years old you are above the national average of Landlords according to a survey by ARLA - how on earth do they know that? No-one asked any of us!! Meanwhile Kensington & Chelsea's prices have gone up since May to June by 3.4% and yet Jose Mourinho's old pad is struggling to sell. Heaven help the owners who are having to contemplate dropping the asking price from the £6.5m. Has the drop in interest in the chosen ones gaff got anything to do with the next tenant? Mr Rob Lowe? Let's not think what was going on in the sauna...
Not interested in watching the FA Cup Final, then why not visit the executive property Exhibition to be held at London’s Excel, this coming Saturday & Sunday, 19 - 20 May. Unusually entry is completely free of charge, whether you register to visit in advance, or simply turn up on either day.
EPEC 2007 is billed as "an absolutely unique property exhibition for the most discerning of Property Investors to view some of the finest property in the world. View UK and International between £500,000 and £25,000,000 from the finest residential estate agents and property developers across the globe."
Also exhibiting are:
• Companies selling the very latest in top-of-the-range home furnishings
• Companies providing associated services to the Executive Property market
• Financial Institutions, Architects and Law Firms
 The Sunday Times includes it's weekly role call of the celebrity movers and shakers. The delightful Eva Green, of James Bond fame is searching for a two bed duplex in Hampstead. The poor mite's budget is limited to £900,000 to £1.5m. Does not go far these days, maybe she should consider setting up a website begging for help..
Following the success of the Million Dollar Homepage, a few property focused websites have sprung up. The theme of the websites is based on the fact that buying a house for the first time is a struggle and any help will do. Fingers Crossed and buymeahouseinstead have been set up by two separate individuals seeking any financial help they can get. In order to entice donations, Joshua who set up the first website will give the highest benefactor the income from the second rented room for the first year. Meanwhile in a more outlandish scheme the founder of buymyhouseinstead is offering the most generous benefactor the chance to advertise their business on the side of his house via a projector. I am sure the local authority will be delighted at this proposal. If we do offer donations so we get to stay every time we are in town?
 Last nights Evening Standard covered the story of rising house prices in the capital. Average asking prices for houses has risen by 3.7%, equivalent to £13,000 in one month alone.
Experts are predicting a further rise this year, mainly due to he lack of supply and the growing international investment. Meanwhile efforts are being taken to try and keep house prices down in other parts of the country. All homeowners have to do is sign up to myspace, let everyone know there is a party going down and hey presto, instant devaluing of your home. £13,000 in a month rise is nothing compared to an instant devaluing of your home by up to £30,000 in one night. A similar effect can be achieved by inviting a camera crew round and an 'ambitious' makeover crew. In the last piece of news to affect your home, Ruth Kelly speaking at the Climate Change Summit held by the Green Alliance, has hinted that measures will be taken eliminate planning permission for renewable energy to be installed on your home. However restrictions would apply for installations which would might have a negative impact on the surrounding neighbourhood - you work it out!
They have provided a nice bit of road crash statistics. The ten most expensive places and the ten least expensive places to live. Realistically there is no benefit to this knowledge, but who cares. All you need to do is satisfy yourself that you live nearer to a nice expensive area then one of the listed not so expensive areas. The Times have included Google maps within their article, a nice touch for the ultimate nosy neighbour. You can snoop without even having to lift an Ikea curtain At the same time this has come to light, The Property Investment Market opens it's doors, allowing you the opportunity to invest in property without having to actually make a purchase. The idea is that a property is split up into small chunks allowing the investor to buy a small stake in the buy to let market. With investments starting at as little as £1, no mortgage, stroppy tenants or brown carpet to deal with, it will be interesting to see how this idea works.
What a jolly way to start the week. The Telegraph gives us the news straight from the hip, the property market is heading for a fall in 2008. The news coincides with the revelation that the average mortgage rate is over 7% whilst the amount of disposable income is the lowest for 25 years. The 'guess' that the market will drop in 2008 is based on the increase of house prices, relative to the amount of earnings and cost mortgages. Factor into that the increase in the cost of living and the apocalypse is coming. Meanwhile if things are that bad then why are the number of mortgage loans up again in January to 75,000, and the average cost of a house went up again in February to £172k. Another little statistic form Hometrack is the news that house sales in the South East are by far quicker than in the Midlands and North. It takes approximately 5.7 weeks to sell your pad in London compared to 7.9- 8.5 weeks in Birmingham. If the research is correct then where do they factor in the Governments prediction that there will be an increase households by 223,000 by 2029. Let's not forget the likely house builders monopoly with the Taylor Woodrow and Wimpey merger and other acquisitions likely. It is not in the house builders interest to over supply the market is it? Throw into the mix the continual rise in the buy to let market with over 850,000 buy to let mortgages in existence - which equates to just under 10% of the UK property market. A serious meltdown in the market, will have major political ramifications at the start of a new leadership and a general election looming. Add it all up and what do you get - no idea whatsoever.....
As the increase in use of the Internet climbs so new ideas come to the market.
A new company called Brightsale have taken the on-line house selling experience the next step. They have provided a website they are calling the ebay for the property market. “BrightSale is simply the new ‘eBay for homes’. The internet is now the most popular way for people to search for property and we believe it will soon become the most popular way of selling homes. “Everything can be done through the website, from advertising the house and arranging viewings, to asking questions of the vendor and making and accepting offers. “Many estate agents are charging large commission rates which are not always parallel to customer service levels and I hope that BrightSale will be the breath of fresh air that the industry needs. “BrightSale enables vendors to take more control of the process and market their homes effectively at just a fraction of the cost, whilst retaining the support and guidance of a traditional estate agent.” They currently charge 0.5% of the sale, compared to a cost of 1.5% from the high street agents. There are no additional charges and BrightSale even pays the seller’s legal fees. Sellers will also receive professionally produced floorplans and photography to help sell their home online and a BrightSale “For Sale” board erected at the property. Whilst selling properties on line is not a new experience, it is interesting to see new and slightly different ways to try and persuade people away from the high street agents.
Thinking of moving? Well here are a few choice properties to whet your appetite, The Top 10 Worlds Most Expensive Homes featured in Forbes.
The locations span from Australia's Gold Coast to across the French Riviera, and include such homes as Saudi Prince Bandar bin Sultan's Aspen Ski Lodge on the market for a cool $135 million, or 6,000 miles away, a 64-room Istanbul waterfront mansion that won't leave you much change from $100 million. Click Here to see them all.
A survey undertaken by Privilege Insurance has revealed that a home decorated in an 'unfavourable' colour will not only put off potential purchasers of a house but will also lead to the house being devalued. Aboutproperty.com has revealed that the price of a house could be reduced by as much as £3,000 to account for poor taste in colours. The most disturbing element of the research is that over 70% of estate agents are recommending that the most acceptable colour for a house to be decorated in is... magnolia! Who wants to live in a house painted 'ivory silk'! Colour psychologist, Ms Mountford said magnolia's success was down to its ability to give "a heightened perception of space" as well as projecting "cleanliness and optimism". Not surprisingly the colours that purchasers wish to avoid are orange and red. Lets just hope Bradford City are not looking to move.
The number of people in the UK who are selling their homes without the assistance of Estate Agents is on the up. Whilst figures are not readily available, according to the owner of houseweb.co.uk the number of people who advertised their homes has doubled since 2001, with approximately 10% of homeowners selling their houses on-line. Mr Gillham of mypropertyforsale.co.uk offers an intriguing insight into the type of vendor who look to sell on-line. On the one hand you have the first time buyer offloading their first house, invariably feeling the pinch of estate agents' fees. Conversely those people selling higher value properties are attracted to the on-line revolution, feeling aggrieved at the high costs they must pay estate agents. Estate Agents feel that they still have a role to play, especially in providing advice with valuations, surveys, mortgages and negotiation.
As a middle ground, new ventures such as brightsale.co.uk have entered the market. They offer the service of an on-line estate agency cutting to commissions to just 0.5% If you do elect to sell your home on-line, the Telegraph has provided these ten rules: 1) Allow some funds to market the property 2) If you sell your house both on-line and through an agent be aware of the fees an agent will be entitled to. 3)Try multi-listing. Their are numerous sites all attracting large visitors. Costs are relatively low. See our list below 5) Try putting together a floor plan. Assistance can be provided by going to various websites including metropix.co.uk6) Always include photos of your property, any cost involved in uploading a photo onto a site is money well spent. 7) Budget for a 'For Sale' sign. Some websites allow for this service alternatively these can be purchased on line at lawpack.co.uk/property8) Consider advertising in the local paper. 9) Look into advertising on some of the more general websites including Loot 10) Be prepared to negotiate... Websites recommended to sell your home on-line: House Valuation Sites: Land Registry
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