Buying, selling and letting - Tuesday, August 23, 2005

July sees quieter market

New applicant enquiries and the number of houses available are considerably up on the same time last year, according to the latest survey of the members of the National Association of Estate Agents (NAEA). However, July is a traditionally quiet time for the UK housing market and this remained the case this year, with less activity than in the previous month.
NAEA members experienced a downturn from the previous month in a number of areas – in July agents saw falls in the number of house buyers on their books, the number of houses available and the number of sales agreed.
While viewing figures have remained fairly consistent in 2005, the average time taken to sell a property has been slowly increasing month-on-month. July, however, took a positive turn, with the average length of time between instruction and exchange of contracts at 19 weeks, compared with 20 weeks in the months of May and June. In July last year it was taking 22 weeks to complete a sale.

Neighbourliness ‘a thing of the past’

According to new research by Linden Homes, the neighbourly request for a cup of sugar is becoming a thing of the past. Fifty-nine of us do not even know the names of our neighbours, while when we have spotted a neighbour we are three times as likely to avoid contact as have a chat.
While most of us would lend a cup of sugar to our neighbours, a massive 56 per cent would do so begrudgingly. Those who live in apartments are significantly less likely to enjoy friendly neighbourly relations than their house-inhabiting counterparts; 21 per cent of those in apartments would be happy to leave a spare set of keys with a neighbour, compared with 38 per cent of house-dwellers. However, an encouraging three-quarters of us would go and investigate if our neighbour’s burglar alarm sounded.

Housing costs on the rise

The cost of owning and running a house rose by five per cent in 2003/2004, more than four times the rate of CPI inflation, according to research by Halifax. Rising council tax bills accounted for more than 30 per cent of the total increase in housing costs, the single largest factor.
At £5,948, annual housing costs make up 23 per cent of total household spending by owner occupiers and are one-third more than household spending on the essential items of food and drink, clothing, education and health care. London housing costs are the highest, 77 per cent above annual housing costs in the North East, which at £4,358 is the cheapest region in which to run a household.

Britain’s homes ‘not big enough’

The UK is simply not providing the homes people want, according to new research from propertyfinder.com. The survey found that there is an annual shortage of 350,000 medium-sized homes on the market and that one-quarter of buyers are forced to buy a smaller home than they are looking for.
Forty-one per cent of the UK’s housing stock is two-bedroom homes, yet only 21 per cent of home hunters are looking for a property of that size. In an average year, the survey found, 240,000 home buyers are forced to buy two-bedroom homes when they would like something bigger.
Surprisingly, affordability is not seen as the culprit, even at the end of years of sharply rising prices; instead, availability explains the shortfall.

Being threatened with repossession doesn't mean you will automatically lose your home, and even if your lender takes you to court it may be possible to stop the process

Taking action early will increase your chances of delaying eviction or stopping it altogether. In many cases, your lender will have to prove a legal reason and get a court order to remove you from your property. As a home owner, you can only be evicted if your lender or freeholder has a legal reason and the correct procedure is followed. Repossession doesn't happen automatically and so it may be possible to stop the eviction at any stage in the process.

Reasons for repossession

The most common reasons for repossession are defaulting on mortgage or other payments e.g. loans secured against your home. Leaseholders can also be evicted by their freeholder if they break the conditions of their lease, such as not paying ground rent or service charges, but this is unusual.
The only other way in which you can be made to leave your home is if the local authority or another public body makes a compulsory purchase order to buy your home. This normally only happens if a major local development, such as a road widening scheme, is planned. If you are in this situation you will be entitled to compensation. You can get advice from a housing aid centre or citizens advice bureau in your area.

The process

Your home can only be repossessed if the correct procedure is followed. This normally involves the following steps:

·    Your lender or freeholder contacts you, asking you to put the problem right
·    You are warned that if you don't pay, solicitors will be brought in
·    A solicitor contacts you saying that legal action will begin if you don't pay
·    Your lender or freeholder applies to the county court for a possession hearing
·    You get a summons from the court
·    The hearing takes place and the judge makes a decision
·    If the court orders that you should be evicted, it will give you a date to leave
·    If you don't leave your lender or freeholder can ask the bailiffs to evict you
·    The bailiffs will contact you to set a date for the eviction
·    A few days later, the bailiffs will come to remove you from your home

Get advice

If you are threatened with repossession, get advice immediately. Depending on your circumstances, you may be able to stop the repossession at any point in the process. The earlier you take action the more options you will have and the less you will have to pay in legal costs. Use advice services to find a housing aid centre or citizens advice bureau in your area. An adviser may be able to help you to:
·    Work out what options are available
·    Negotiate with your lender or freeholder
·    Fill in court papers and explain your situation to the judge
·    Find alternative accommodation if you are evicted.

shelternet.co.uk

One thing landlords don’t want is an un-let property. The National Association of Estate Agents (NAEA) offers some tips on avoiding the void

Speculation that the buy-to-let market is slowing down may cause trepidation for some landlords. A landlord’s investment depends, of course, on demand for rental property. With this in mind, the National Association of Estate Agents (NAEA) has put together some helpful hints to aid the rental of your buy-to-let property.
In a turbulent market, the use of letting agents is expected to rise due to the expertise and wealth of information they possess. One of the main reasons is that lettings agents have the experience and contacts needed to help ensure the property will be occupied and well maintained during the letting period.
Peter Bolton King, Chief Executive at the NAEA offers the following advice to landlords seeking to select the best letting agent:
Firstly, just because the letting agent provides you with the lowest fees or highest potential rental – do not let this hinder your judgement. Instead seek rental comparisons on similar properties as well as the level of demand in the local area. Also you must verify what you will receive for your fees in terms of service and professionalism.
Ensure that your agent is clued up on all the relevant legislation and procedures especially in regards to inventories and reference checking.  A first-class agent will have a thorough understanding of the market and nature of demand in the area. They will also have a ‘bulging’ contacts book of local contractors for repair work.

It is vital that the agent is a member of a professional body, such as the NAEA. This demonstrates professionalism and experience and ensures high levels of service for both you and your tenants.  Members of the NAEA who are also Partners or Directors of their firm must also have professional indemnity insurance and Client Money Insurance which provides you with protection.
Fourthly, it is of paramount importance that you verify your contract with the letting agent, paying close attention to the fees payable and your responsibilities.
Finally, watch out Laurence Llewlyn Bowen! A first-rate letting agent should have enough expertise to provide you with useful guidance on how to make your property shine inside and out, for example offering a helping hand on furnishings and décor along with how best to target your property at a variety of tenants.
 
Peter Bolton King continues: “With careful positioning, it is still possible to fill empty properties. Figures from our June housing market survey show that 60% of rented properties in the last year were unfurnished and only 40% were furnished.”
 
There was an average of six unfurnished properties rented per NAEA lettings agent in June compared to only five furnished properties. The gap widens further on a yearly basis with 18 furnished properties being let per agent over the past 12 months compared to 27 unfurnished properties. Peter Bolton King concludes: “It’s important to position your property in-line with market demands. Talking to an NAEA member or reading local newspaper or property website will help to keep you informed.”
 
For more information or to find letting agents in your area, please visit www.naea.co.uk or telephone 01926 496800.

Six out of ten Londoners rent or live with parents

Home ownership is less prevalent in London than any other part of the UK, new research from Alliance & Leicester. Sixty per cent of Londoners – the highest of all UK regions – either rent or still live at home with their parents.
The study reveals that almost four in ten people (39 per cent) in London own their own home compared with nearly seven in ten people in the North East (69 per cent), West Midlands (68 per cent) and Wales (66 per cent).
There are more people looking to get onto the housing ladder in London when compared with the national average; the research shows that 14 per cent of renters and those that live with their parents in London are looking to buy their first home, compared with just ten per cent across the nation.
Although Londoners have big aspirations to buy a house, they find that home ownership is still out of their reach. Nearly one-third (31 per cent) of those who rent or live with their parents want to buy but say they can't afford it. This is higher than the national average at 28 per cent.
Stephen Leonard, Director of Mortgages at Alliance & Leicester says, ‘London is not only the most expensive region to buy a house in the UK but also one of the most expensive in the world. Many choose to rent or continue to live with parents in order to keep a roof over their heads. However, Londoners have buoyant aspirations and we can see that there is a thriving first time buyer market.’                 
Stephen Leonard continued: ‘Despite these aspirations, many first time buyers feel that they cannot afford to buy a home, and whilst these fears aren't unfounded, with the average house in London at £263,525 compared with £181,832 nationally, they should take heed that there are some fantastically competitive deals available and some that are especially designed with first-time buyers in mind.’
Faced with the choice of renting or buying, Londoners are least likely to want to buy of all the regions. Of those that would rather rent, a third (33 per cent) think that a mortgage is too much of a commitment; this is twice the national average (17 per cent).

First-time buyers priced out of countryside

The percentage of first-time buyers in rural areas has dropped sharply in the past ten years, according to Halifax’s new English Rural Housing Index.
Whereas first-time buyers accounted for 27 per cent of rural property transactions in 1994, last year’s figure was 16 per cent. Over the same period the number of first-time buyers in urban areas fell from 41 per cent to 35 per cent.
The lowest proportion of first-time buyers can be found in Dorset, where they account for only seven per cent of total rural transactions. The highest proportion, at 43 per cent, is in the Forest Heath local authority in the East of England.
Looking at the ability to buy, North Cornwall is the least affordable; there the average house price, at £217,276, is almost 14 times average local earnings. The the local authority with the most affordable homes is Copeland in Cumbria, where the average house price is £110,422, almost five times average local earnings.
Housing in rural areas has outperformed the rise in urban house prices over the last ten years.  In 1994, the average rural house price was £85,308 rising by 171 per cent to £231,053 in 2004. In comparison, the average urban house price has risen by 166 per cent over the last ten years – from £73,960 in 1994 to £197,051 in 2004.

Investment property is big business, as more and more people prefer to put their money in bricks and mortar. But what to buy? Johnny Turner has some suggestions.

 It’s said to be a buyer’s market, and the combination of low interest rates and a halt to the crazy price rises that characterised the late 90s and early naughties mean good news for those in the market for property. In particular, investment buyers are seeing advantageous market conditions: affordability is up, making it more possible to start or add to a property portfolio; and with prices still high there is good demand for rental property. The other consideration for those embarking on an investment buy is capital growth, and while we’re not seeing the 20 per cent annual price inflation that marked recent years, there is still very good scope for growth in the medium- to long-term.

So the conditions are suitable – but what and where to buy? As it happens, the prospective investor is spoilt for choice. Starting in an area that has the double benefit of being near not only the City of London but also the massive reinvention of King’s Cross, Telford Homes’ Estilo ticks all the boxes for the prospective investment buyer. With the location just off City Road, between Old Street and Angel tube stations, residents will be close to everything. Estilo is perfect for those who need to be at work – whether that work is in the City or elsewhere in the capital or even beyond – in the quickest time possible.

Estilo is a selection of high-specification one-, two- and three-bedroom apartments, as well as duplexes. Good-quality tenants will be drawn to amenities such as Upper Street, as well as to the high specification. Another important criterion for a buy-to-let property, good capital growth in years to come, is also a good bet at this development; after all, Islington has been among London’s most popular locations for decades and only continues to improve.

Completions at Estilo are expected in autumn 2006. Only a few one-bedrooms remain; overlooking the Wenlock Basin and featuring a south-west facing balcony, these are priced between £265,000 and £270,000. Meanwhile, two- and three- bedroom apartments and duplexes have just been released for sale, priced between £347,500 and £380,000. To find out more call 0870 872 0987 or visit the website telfordhomes.plc.uk.

Laing currently has a number of wonderful apartment schemes on offer. In the Howlands area of Welwyn Garden City, just a mile and a half from the town centre, Creswick Place is a development of 109 one- and two-bedroom apartments over three and four storeys. Some apartments have two bathrooms, and all have allocated parking as well as visitors’ spaces.

Prices start from £154,500 for one-bedroom apartments and £167,500 for two-bedroom apartments. A choice of incentives includes stamp duty, legal fees paid up to £500, and fully fitted carpets. Conditions apply. A two-bedroom show home is now open. Call 01707 351330.

In popular Cambridge, Laing has launched The Gallery II, the second phase of a very successful development of stylish one- and two-bedroom apartments and penthouses. Located within two miles of the bustling city centre and within a mile of the main railway station, these homes are convenient both for those who work in Cambridge or surrounding towns and London commuters.

There are numerous deals available with these designer apartments, one of which is Laing’s Easymover scheme, similar to that described above. Alternatively, a unique Homestyle voucher is available, enabling purchasers to upgrade the specification of their home to their particular taste.

One-bedroom apartments are priced from £179,950, while two-bedroom apartments start at £219,950. Call 01223 247669.

In leafy Enfield, Jerome Walk is a stylish collection of one- and two-bedroom apartments and three-bedroom houses. Located close to local amenities and with good transport links – and priced from just £155,000 – these properties are ideal for first-time buyers looking for a contemporary new home. Jerome Walk is also perfect for investors; prospective tenants will be impressed by the easy commuter options, with Brimsdown station and the bus terminus just two minutes’ walk away.

Prices for one-bedroom apartments start at £156,950; two-bedroom apartments start at £179,950. To find out more about Jerome Walk call 020 8804 1036.

Shires Lodge in Hendon, located adjacent to the synagogue in Brent Street, consists of 14 two- and three-bedroom luxury apartments in landscaped grounds. Exterior features include gables, ornate brickwork and bay widows. There is basement parking and gym facilities for the exclusive use of residents and their guests.

Interiors feature superb décor, contemporary lighting and elegant features such as French windows, terraces and large balconies on selected plots. Specification is high, with designer integrated fitted kitchens, luxury bathrooms with Hansgrohe taps, utility rooms to many of the apartments, and en suites and showers to most master bedrooms. The apartments are priced between £299,950 and £750,000. Call 020 8202 9458.

Also by Laing Homes is Quarles Park, located in Chadwell Heath, Essex, where only two two-bedroom apartments remain, priced from £175,950. The location is great for road and rail links; Chadwell Heath station offers a fast commute to Liverpool Street.

The two-bedroom apartments offer a spacious master bedroom with an equally spacious second bedroom adjacent to it. The open-plan living room and kitchen add to the sense of freedom and space. Call 020 8586 4091.

At Queen’s Manor in Queensbury only three of the 24 spacious two-bedroom apartments remain for sale. Located less than half a mile from Queensbury tube station, this is the ideal location for commuting into central London, and both first-time buyers and investors will be drawn to the specification and convenience to be found. Prices start at £239,950. Call 020 8732 2596 for more information.

Good news for investors, young professionals and first-time buyers in Guildford: Rushmon New Homes has just launched Abbots Yard, a new scheme of 34 one- and two-bedroom apartments at Walnut Tree Close, just 400 yards from the railway station.

When complete, the development will be a sleek selection of contemporary apartments offering space, versatility and freedom. Well placed to enjoy everything that the area has to offer, this is the ideal home base for the busy professional who demands sleek London-style living as well as quick access to the Surrey countryside.

The homes feature spacious open-plan interiors, classic white bathrooms with chrome fittings, designer kitchens with a wealth of integrated appliances, including a stainless steel oven, ceramic hob, steel hood and chimney, plus a fridge/freezer, washer/dryer, dishwasher and waste disposal. Some also have private balconies which allow the occupant to bring the outside in. With the privacy of a landscaped courtyard and the security of basement parking, these stylish new homes epitomise modern living.

Prices at Abbots Yard start at £209,950 for a one-bedroom apartment and £247,500 for a two-bedroom apartment. For further details and to register your interest call Savills on 01483 796807 or Rushmon New Homes on 01932 586700.

Weston Homes offers a good buy-to-let solution in the form of 41 Millharbour, located on the Limehouse Cut in London’s Docklands. The development currently has 33 apartments and three duplexes that are ready to move into, which means the investment can see a return immediately after exchange.

From the exterior design, by leading European architects Chantrey Davis, to the breathtaking interior spec, this collection of apartments stands out, and busy professional tenants will be drawn to these attributes as well as to the location.

Apartments at 41 Millharbour are priced from £299,950. The amazing show penthouse is also for sale, priced at £1.6 million. For more information contact 020 7517 0808.

Westbury Homes offers attractive investor packages at its developments in the South East, including Chapter House and Greenfields in Reading, Weaver’s Place in Newbury, and Priory Gardens in Addlestone.

The developer is aware that newly built homes represent attractive properties for investors, with many snapped up on a buy-to-let basis. Furnishing an investment purchase with one of the three packages offered by Westbury – bronze, silver or platinum – allows the buyer to tailor the home to the investor market.

Visit one of their developments to see what each range has for the investment purchaser. For more details see westbury-homes.co.uk or call 0800 083 3355 quoting reference LPGPX5.

A straightforward commute is what most tenants want, so a canny investment buyer will be looking for that too. And Antler Homes’ Christchurch House, located just a short walk from Sutton town centre and station, certainly fulfils the requirement for commutability.

Comprising three one-bedroom and six two-bedroom apartments, Christchurch House is located in a prime area of south Sutton. Each of the homes offers high-specification interiors including luxury custom-built kitchens and designer bathroom suites – a further draw for prospective tenants.

Griff Marshalsay, managing director of Antler Homes South East, says, ‘This part of Surrey is very easily commutable into the capital and as a result it is beginning to attract a number of potential buyers.’

The apartments start at £199,950 for a one-bedroom. For further details contact Antler Homes on 020 8642 6686.

 

Unfurnished lettings more popular

Today’s lettings market is tilting towards unfurnished properties, according to the latest survey from the National Association of Estate Agents. Figures show that 60 per cent of rented properties in the last year have been unfurnished.

The ratio of unfurnished to furnished properties in June was 6:5. The gap widens further on a yearly basis, with 27 unfurnished properties being let per NAEA agent to every furnished one.

Commenting on this trend, Peter Bolton King, chief executive officer of NAEA, urged landlords to follow the basic rule of the marketplace: give the people what they want. ‘It’s important to position your property in-line with market demands,’ he said.

Home Owners are more concerned with saving pennies than the ozone layer.

Research from Linden Homes has shown that although the British public are concerned about the environment, over 86 per cent admitted that saving money on their bills was a higher priority. However, a staggering 92 per cent of those surveyed would be more interested in energy-saving measures if they were made more affordable.
Lower cost energy-saving measures such as low-voltage light bulbs, double glazing and loft insulation were already used by the majority of those polled (See Graph 1 in attached press release: would you install the following energy-saving measures in your home?).
More radical measures were unsurprisingly greeted with greater scepticism by homeowners, with only 12 per cent saying they would be prepared to install a mini wind turbine on the roof of their home, at a cost of£1,300. With annual savings of £260 on energy bills, this would take five years to pay off. However more encouragingly, a further 29 per cent would consider doing so in the future. Similarly, 49 per cent said they would consider installing solar panels on the roof of their homes to heat domestic water, at a cost of £3,000.

Ivan Ball, Director of Sustainable Communities at Linden Homes says,
“Traditionally homeowners have been unconcerned about the impact their homes are having on the environment, but it appears the tide may be changing in favour of renewable energy. Solar panels as a means of heating water was practically unheard of in the domestic market until recently, but now almost half of those polled have shown interest in installing them in their homes.
“Linden Homes installs 2m sq solar panels on a number of our new homes in Surrey as part of our commitment to ensuring 10 per cent of energy used by the homes is renewable. Generally they have been well-received by home-owners, despite some initial scepticism.”
In addition, over 95 per cent of those polled said they would be more committed to embracing energy-efficiency if they were rewarded with a reduction in their council tax, an initiative the Government might like to consider if it is to hit its Kyoto target of generating 20 per cent of the UK’s energy from renewable sources by 2020.

Linden Homes places environmental issues at the top of its agenda, with most of its new homes achieving an energy-efficiency (sap) rating of over 100 out of 120, with the industry average being just 75. This is achieved by insulating under the ground floor, the walls and roof as well as using double glazed, sealed windows, gas condensing energy-efficient boilers and water-efficient appliances. In addition various light fittings within each new Linden home can only accept low-energy bulbs.

London market ‘recovering’

Property advisor DTZ Residential has launched its annual report on the prime central London market, and according to its Prime Property Value Index, property prices in central London rose by an estimated 1.75 per cent in 2004. This comes on the back of no growth in capital values during 2003, supporting the view that the central London market has seen a marginal recovery in 2004.
While the volume of sales in England and Wales declined in 2004, both London and the South East saw transactions increase over the same period, by 3.78 per cent and 3.57 per cent respectively. Activity in London has focused on the new homes market and the very top end of the established homes market.
In response to higher interest rates and a cooling housing market, consumer spending has eased in recent months. Despite this, a significant fall in asset values or an abrupt market correction is not expected. In fact, DTZ forecasts an annual increase in central London capital values of around 3 per cent from the beginning of April.

Buyers follow their nose

A recent survey has found that household smells can be a crucial factor in convincing prospective buyers to purchase a property. The study, conducted by Cif Oxy Gel Herbal Energy, found that while certain smells attract buyers, others can deter them completely. Over half the people questioned (55 per cent) said that the smell of cigarette smoke was the greatest turn-off, while pet smells were also top of the hate list for first-time buyers (36 per cent of respondents aged 25–34).
House buyers conclude from bad odours that vendors ‘don’t take pride in their home’ (27 per cent), and the first-time buyer group (25–34) made assumptions about the cleanliness of the vendors themselves with one-quarter saying they ‘were probably not especially clean’.
Smells that project a feeling of relaxation were found to be the most appealing. Fifty-two per cent felt that aromatherapy smells were the most relaxing, with home cooking smells coming second (32 per cent). Although many people buy air fresheners to make their house smell better, many are doing the reverse; only 16 per cent of those surveyed found them appealing.

From bustling towns to sleepy suburbs, Middlesex has it all. And, finds Johnny Turner, the new homes there are well worth a look.

For a genteel, convenient place to live, more of those in the know are looking west. The pretty towns of Middlesex offer everything today’s buyer wants – and the currently available new developments present a plethora of options. Here are just a few of them.
Persimmon Homes’ latest development in the area is The Chase, located in Harrow. Set behind a gated entrance with private parking, The Chase is ideally located for City commuters – and, thinking more locally, is within walking distance of local shops and amenities.
With striking elevations and flexible accommodation, the Ascot and Windsor town houses take three-storey living to a whole new level. Each design provides convenient living space on the ground floor with a well-planned kitchen, cloakroom and lounge leading out to the patio and rear garden. The first floor has two perfectly sized bedrooms with quite a few possible uses: they are ideal either for similar-aged children or as a stunning TV room or workplace along with an elegant guest room. The second floor is a sanctuary, with a spacious master bedroom, adjacent dressing area and en suite shower room.

The location, off Lower Road in South Harrow, is near both the M40 and M25. South Harrow tube is approximately an hour from King’s Cross on the Piccadilly Line. Prices for a three-storey town house start from £349,950. Contact selling agents Colin Dean on 0845 676 0184 or visit persimmonhomes.com.
Laing Homes has several high-quality developments currently on the market. Starting in Enfield, Jerome Walk is a stylish collection of one- and two-bedroom apartments and three-bedroom houses. Located close to local amenities and with good transport links – and priced from just £155,000 – these properties are ideal for first-time buyers looking for a contemporary new home. Jerome Walk is also perfect for investors; prospective tenants will be impressed by the easy commuter options, with Brimsdown station and the bus terminus just two minutes’ walk away.
Purchasers also have the ability to design the home of their dreams, with Laing Homes’ unique Homestyle service. This allows buyers to upgrade and design their property to meet their needs. And the opportunity to view the home at the architect’s-drawing stage puts buyers in a strong position from the standpoints of price and choice. Those interested in finding out more about Jerome Walk should call 020 8804 1036.

Another Laing Homes development is Woodgate Court, located in sought-after Ruislip. This collection of highly individual one- and two-bedroom apartments offers the irresistible combination of attractive contemporary architecture, inspired interior design, high specification and landscaped grounds.
The select development is superbly placed to take advantage of Ruislip’s wide selection of bars, eateries and shopping facilities. And commuting to London is simple; from South Ruislip tube station a journey to Tottenham Court Road takes only 35 minutes. By road, the A40 gives a direct route into London and connects to the M40.
For more information on Woodgate Court contact the sales and marketing suite, open daily from 10am to 5pm, on 020 8845 2475.

In Edgware, meanwhile, Laing Homes is selling Greenacres, located in Gibbs Green, Edgware. The development of two four-storey blocks in a quiet residential area which features very desirable apartments. A secure gated driveway and ample private parking to the rear are two definite pluses, while there is also a lift to all floors.
Interior specification includes fitted kitchens with Bosch stainless steel integrated appliances, classic white bathroom sanitaryware, towel warmers. There are also recessed downlighters to kitchens, bathrooms and en suites.

Situated less than a mile from Edgware town centre, between Edgware and Mill Hill, Greenacres is positioned to take advantage of good local transport connections and handy shopping and leisure facilities. Edgware Northern Line tube station is less than a mile away, while the A41 and A1 road links can be accessed in under half a mile.
All of the one-bedroom apartments have now been sold, but two-bedroom apartments are currently priced from £299,950. Call estate agent Preston Bennett on 020 8954 8626. And for more information on these and other Laing Homes developments visit laing-homes.co.uk.

Try Homes has three very impressive schemes currently on the market in Middlesex. Starting with Metro in central Uxbridge, this collection of just 20 contemporary one- and two-bedroom apartments has what today’s busy professional needs from a home.
All of the apartments, with the exception of two, have open-plan kitchen/living rooms which are ideal for dinner entertaining. Designer kitchens come complete with integrated stainless steel appliances. Some apartments have an additional en suite shower room, designed with clean, modern lines with contemporary white sanitaryware.
Metro has a lift to all floors, which adds even more convenience. Find out more about these ideal town centre apartments by calling local agent Turbervilles on 01895 201777.

Mayfields is a fine new development of just 16 contemporary two-bedroom apartments located on Swan Road in West Drayton. Mayfields lies just a short walk from a range of amenities and shops along Station Road. Layouts at this development vary widely; however, all except one of the penthouses offers the very popular attribute of open-plan kitchen/dining/living rooms. Ground floor apartments all have French doors from the living room leading to a private patio, while the majority of properties on the upper floors have balconies. Most of the apartments have central hallways from which the various rooms lead, and this creates an immediate feeling of light and space.
Residents at Mayfields will benefit from gated landscaped ground which provide privacy and seclusion, and there is also a convenient parking court for residents and visitors located to the rear of the building. A lift serves all floors. To find out more about Mayfields call local agent Charles Cameron on 01895 444424.

Riverside Gardens, meanwhile, is another Try Homes scheme in the Uxbridge area. Situated on Cowley Road, Cowley, this collection of homes is stylish and varied, making it possible for literally any buyer type to find the home of their dreams. The sensitive conversion of a former coach house has created four two-bedroom cottages, while there are also an elegant terrace of 11 three-bedroom town houses and eight splendid two-bedroom apartments set within a striking modern building.
With the wide variety of property on offer, it is no surprise that the layouts at Riverside Gardens are varied – but prospective buyers can rest assured that each of the homes conforms to Try Homes’ stringent standards of design and finish.
Get more information on this winning development by calling Turbervilles on 01895 201777 or Charles Cameron on 01895 444424.
Find out further details of Try Homes’ developments in Middlesex and the surrounding areas by visiting the website tryhomes.co.uk

From Martin Grant Homes comes Abinger Court, a collection of intelligently designed new two-bedroom apartments and three-bedroom semi-detached house in an impressive Uxbridge location. The family homes have their own private gardens, while the stylish apartments overlook communal gardens. All boast their own allocated parking spaces within the development. Interiors feature the latest contemporary details, including stainless steel hobs in the kitchens and modern white bathrooms.
The location is excellent. Located on both the Metropolitan and Piccadilly Lines, Uxbridge is home to the Grand Union Canal, parks and fresh air, and yet is less than 45 minutes from central London. For drivers, there are easy links to the M1, M4, M40 and M25. It is a thriving commercial town with two shopping centres, a nine-screen cinema, pubs, bars and restaurants. State schools in the area are also good, and for higher education Uxbridge College and Brunel University are based there. Nearby Stockley Country Park has lakes, wildlife and an 18-hole golf course.
Prices start at £199,995 for apartments and £279,995 for houses. For further information on Abinger Court call the sales office on 01895 239429 or Bernard Marcus’ Uxbridge office on 01895 237711.

George Wimpey currently offers two high-quality developments in the county. At Heathside, located in Hounslow, the developer is offering some very attractive incentives to buyers of selected plots. ‘Our easymover package enables purchasers to reserve their new home for just £250,’ says David Hodgson, sales and marketing director of George Wimpey West London. ‘We know how tough it is to save for the deposit in the prevailing economic climate so we have taken that burden away.’
With the easymover package, the developer pays the five per cent deposit and stamp duty, £1,000 towards legal fees and £250 towards survey fees – and it even offers a full removal service.
The incentive package is proving attractive to buyers, 20 properties have been sold in the last 12 weeks, in fact. ‘The first phase of homes has now completely sold out and the interest in this release is even higher,’ adds Hodgson.
Heathside is situated in Vickers Way, Hounslow and is open daily from 11am to 5.30pm. Call 020 8569 5637 or visit georgewimpey.co.uk for more information.

At George Wimpey’s The Grove development in Wood End Green Road, Hayes, there is just one apartment remaining, so those who want a chance to live in this well located and beautifully designed development should act very quickly. The ground floor one bedroom apartment is priced at £196,995. Contact the sales information centre on 020 8589 7810 go online to georgewimpey.co.uk, where you can explore site plans, view the development layout, get directions and even order a glossy colour brochure to be posted to you.

For those who want to know what’s coming up in the future, Linden Homes has acquired a site at Spring Grove Road in Isleworth. Formerly the location of a large factory building which has now been demolished, this is a great area for commuters – and, as Twickenham stadium is nearby, ideal for rugby fans. Linden has plans to build a collection of three-bedroom town houses and apartments, and these are sure to be popular with buyers.
High-quality amenities are all around, from the local restaurants and shops in the town to those in Richmond, Ealing and Twickenham. There is also a wealth of green space locally, including Osterley Park, Kew Gardens and Syon Park. Commuting from the upcoming development will be very straightforward, as nearby Hounslow East tube gives access to the Piccadilly Line (and placing Heathrow less than 15 minutes away). Osterley tube station is also a short walk away.
For further information call Linden Homes Chiltern on 01895 827447.

Bryant Homes’ stylish Grand Union Village (GUV) development from Taylor Woodrow has witnessed strong interest from Londoners wanting to end their working day in more tranquil surrounds. And the prices per sq ft compare favourably with other canalside developments around west London.
These price comparisons reveal that a typical two-bedroom canal-side apartment or warehouse conversion is selling from around £299,950 to £390,000 compared to just £199,995 at GUV. This inspirational regeneration scheme on the banks of the Grand Union Canal in Northolt makes affordable canalside living a reality for many city workers needing a foothold on the tricky London property ladder.
Bryant Homes regional sales and marketing director John Inglis comments: ‘The attraction of living by the waterside has forced many canalside developments to reach an all-time premium. Fortunately, prices at GUV remain lower than other London equivalents – which is good news, particularly for west London’s first-time buyers and working families. Here Londoners will be able to enjoy affordable canalside living, providing the ideal escape from the inner city at a price within their comfort zone.’
Once complete, GUV’s 54-acre sustainable urban development will consist of a mixture of 700 houses and apartments, including 35 per cent of affordable houses for key workers such as teachers and nurses. Community provisions will include a health centre, retail outlets, a restaurant, 20 acres of public open space, community halls and new footpaths and cycle ways.

Prices at the Pointcentral phase currently start at £155,995 for a one-bedroom apartment and £199,995 for a two-bedroom apartment. For information on Grand Union Village visit the marketing suite, open seven days a week from 9.30am to 5.00pm. Call 020 8841 8247 or visit grandunionvillage.com.

Rates on their way down?

In response to weaker than expected economic growth, City analysts have forecast a cut in interest rates as early as this summer.
The Office for National Statistics (ONS) revised first quarter gross domestic product growth to 0.4 per cent on the quarter and 2.1 per cent on the year, down from expectations of 0.5 per cent and 2.7 per cent respectively.
At the same time, however, annual growth was increased for the years 2002 to 2004.
The gloomy economic figures will undoubtedly increase pressure on the monetary policy committee (MPC) of the Bank of England to lower the cost of borrowing. At the May monthly meeting there were voices in support of lowering interest rates for the first time in over a year, and even before the latest statistics were revealed it was thought that more would join the rate-cut bandwagon.

House prices cooling

UK house prices were down in June, taking annual price inflation to a nine-year low, according to the latest figures from Nationwide Building Society. The 0.2 per cent slide in prices comes after a 0.3 per cent rise in May, and reduces annual growth to 4.1 per cent; the annual price growth was 19 per cent this time last year.
This was the slowest rate of growth since July 1996, said Nationwide. The cost of the average UK house is now £157,791.
House prices in Greater London increased by 3.3 per cent over the second quarter of 2005, down from 4.9 per cent in the first quarter. London was still the most expensive place in the UK to buy, with an average property price of £241,344. The lowest prices were in Scotland where the average was £116,943.

Mortgage approvals down

Fears that the housing market may be in for a sharper downturn than previously though were fuelled by new data from the British Bankers’ Association (BBA). The number of mortgage approvals fell in May by almost 25 per cent compared with this time year ago.
BBA says mortgage approvals rose to 67,702 in May from 67,290 in April but were down 24 per cent from 89,289 in May last year. In terms of total value of mortgages approved, lending was down 17 per cent compared with last year.
Director of statistics David Dooks said, ‘While mortgage lending was slightly stronger in May, it is noticeable that all measures were below comparable data a year earlier, when May was a relatively weak month.’
The number of mortgage approvals is considered to be a good guide to the direction of house prices, and economists said the data pointed to a protracted slowdown in the once-booming property market.

Much has been said about the difficulty key workers have in buying a home in Greater London. We bring you information about how they can increase their chances.

With London property prices far outstripping the take-home pay of most key workers, several initiatives have been put in place to help stop the flow of crucial community workers out of the capital. Those in fields such as teaching, police work and health can find ideas and practical help from sources such as Key Worker Living, a government-led initiative.
At Key Worker Living, prospective property owners can find a wealth of information – and can even apply online. There are several schemes currently operating with the goal of making home ownership a more realistic prospect for London’s key workers, for instance equity loans, shared ownership programmes and intermediate renting.  For those who are wondering about whether they quality for key worker programmes, eligibility for the different schemes varies depending upon which key worker group you work in.

Education

For school teachers there are two schemes available: London Challenge Key Teacher Homebuy and Key Worker Homebuy. To qualify for London Challenge Key Teacher Homebuy assistance up to £100,000, an applicant must:

* be a teacher at a school in Greater London
* be a permanent employee
* work in a school that is in receipt of public funds
* be unable to buy a home suitable for their household needs within a reasonable travel to work area of their employment
* have indefinite leave either to enter or to remain in the UK (excluding key workers from member states of the EU/EEA)
* have household income that does not exceed £80,000
* sell their existing property if they own one

There are further criteria based on a points system, giving greater weight to those who work in ‘challenging’ schools, Advanced Skills Teachers, Teach First Graduates etc.

To quality for the Key Worker Homebuy for Teachers scheme an applicant must be a qualified teacher, deputy head or headteacher and teaching in grant maintained primary or secondary schools, including city technology colleges, city academies and schools for children with special needs. Applications may need to be prioritised, and this will be based on the same points system as the London Challenge Key Teacher Homebuy scheme.

Other criteria apply. Those who are unsure whether they qualify for these or other schemes should visit fento.ac.uk or call 020 7332 9535.

Health care

For those who work for the NHS, to quality you must be unable to buy a home suitable for your household needs within reasonable travelling distance of your place of employment. You must also be a permanent employee of one of the following:

* NHS Primary Care Trust
* NHS Trust
* NHS Ambulance Trust
* NHS Mental Healthcare and Social care Trust
* National Blood Transfusion Service
* NHS Direct
* NHS Professionals Special Health Authorities
* NHS GP surgeries
* Nurses in dental practices which have obtained Health Service Body status

Applicants must also have indefinite leave either to enter or to remain in the UK (excluding key workers from member states of the EU/EEA) in cases where they are buying a home, have a household income not exceeding £60,000 and sell their existing property if they are trading up

Within the NHS some groups will have priority, including:

* Nursing staff in general
* Cancer services staff, particularly therapeutic radiographers
* Diagnostic support staff including diagnostic radiographers, bio-medical scientists and microbiologists
* Mental health professionals e.g. mental health nurses and graduate workers in primary care
* midwives
* social workers;
* occupational therapists;
* GPs in under-doctored areas (including Hammersmith and Fulham, Waltham Forest, Redbridge, Havering, Barking and Dagenham, Bexley and Greenwich)
* chiropodists
* physiotherapists
* clinical staff working within the orthoptics, dietetics or prosthetics and orthotics fields
arts therapists
* paramedics
* psychologists
* psychotherapists
* radiographers
* pharmacists

There will be variations in priorities at Strategic Health Authority level according to vacancy levels.

Find out more about key worker schemes by visiting keyworkerliving.co.uk