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Estate agent Leeds
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NEWS
Property
News from MORFITT SHAW Estate & Letting Agents
Home-movers deliver most upbeat price
forecast for nearly two years
House price optimism is at its highest for seven quarters,
Rightmove’s latest quarterly Consumer Confidence Survey of over 40,000
home-movers finds. More than a third of respondents (35%) expect house prices to
be higher one year from now, the highest level since the third quarter of 2010.
The survey also finds that the proportion of those expecting house prices to be
lower in 12 months’ time is also at its lowest level (20%) for seven quarters.
Significant rise in residential property activity
The UK housing market showed continued signs of
improvement during April according to the latest figures from "For
Sale" board company Agency Express's Property Activity Index.
Month-on-month data for April 2012 shows that nationwide residential property
sales increased by 9.5% - the third consecutive monthly increase.
Meanwhile new "for sale" listings also rose by
13.3% compared to March - the fourth consecutive monthly increase. Given a
longer-term perspective, new "for sale" listings during April were the
highest since May of last year and the second highest since August 2010, while
"sold" properties achieved the highest monthly volume since February
2010.
House prices up for second month in a row
House prices rose by 0.1% in April, down on the 0.2% rise
recorded in March according to the latest monthly Hometrack House Price survey.
A clear divide continues to grow between markets in and around London and the
rest of the country. The strongest price rises in April were in London (+0.3%),
with small gains (+0.1%) across the regions of southern England. Prices
elsewhere were either static or falling.
The time on the market - an indicator of the relative
strength of the market - has fallen slightly across all regions in the last
quarter but still stands at less than six weeks in London and around 12 weeks
across all regions away from the south. The impetus for price rises over the
last two months has been higher demand. New buyer registrations over the last
three months have grown almost 25%. The usual seasonal uplift in demand together
with the added impetus from the recent stamp duty holiday have generated the
uplift in recent market activity.
First fall in 2 years for million-pound home sales
The number of properties selling for more than £1million
declined in 2011 - but sales of homes worth more than £2million continued to
grow, according to research by Lloyds TSB. The total number of sales of
properties that cost at least £1million in Great Britain was 5% lower in 2011
(6911) than in 2010 (7256). This compares with a 55% increase in 2010 and was
the first annual fall in million-pound sales since 2009. In total, there are an
estimated 165,000 homes in Britain worth at least £1million.
However, multi-million pound property sales rose to their
highest level on record in 2011. There were 1518 property sales worth at least
£2million in 2011, a rise of 5% from 1442 sales in 2010. This is the highest
number of sales, in this price bracket, since records began in 1995. Sales of
properties topping the £2million mark were also 2% higher in 2011 than at the
peak of the housing market in 2007 (1484).
Major improvement in mortgage availability
The number of mortgage products offering maximum
loan-to-values of 95% has more than doubled over the past year, from just 27 to
61 today. Deals with a maximum LTV of 90% have also increased to 316 today
compared to 228 this time last year, an increase of 43%. Louise Holmes,
spokesperson at Moneyfacts.co.uk said: "Over the past couple of years we
have seen the high LTV mortgage market stage something of a comeback, mainly due
to high demand from borrowers with limited deposits.
"The first-time buyer market is often considered to
be the life-blood of the housing market and mortgage lenders recognise this.
Risk is still a major factor, however, and the majority of mortgages with high
LTVs require the financial backing from a third party, such as a guarantor, as
well as strict credit checks and lending criteria. "These latest figures
will be good news and a welcome relief to many borrowers who have struggled to
find suitable mortgage deals within their financial capabilities."
Independent Estate Agent and Letting Agent Leeds Morfitt
Shaw
Manning Stainton
Alan Cooke
Linley & Simpson
Hendys
Jump Estate Agent
Dacres
Dacres Son & Hartley
Castlehill
David Moor
Walker Smale
Street Lane properties
Park Lane properties
Shaftesbury Avenue properties
Devonshire Avenue properties
Roundhay properties
Selectahome
Streets Ahead

80 Street Lane, Roundhay, Leeds, LS8 2AL
Tel: 0113 393 0113 Fax: 0870 220 3169
info@morfittshaw.co.uk
Estate agent covering North Leeds, Shadwell,
Scarcroft, Harewood, Thorner and other
villages around Leeds. If you are looking for a home in Leeds, you can search our
Leeds property database to find the house you want. You can also register on
our Leeds mailing list to receive instant email alerts of houses that meet your
specifications. We also provide letting services for
landlords and tenants throughout the Leeds area. Manning Stainton Alan
Cooke Linley & Simpson Hendys
Jump Estate Agent Dacres Dacre Son & Hartley Castlehill
David Moor Walker Smale Street Lane
properties Park Lane properties Shaftesbury Avenue properties Devonshire
Avenue properties Roundhay properties Selectahome
Streets Ahead.
As one of the largest estate agencies in Leeds, we aim to offer a level of service and
value beyond that offered by our competitors.
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