Today we have launched an overhauled version of our website. It's designed to be clearer and easy to navigate.
Designer, David Gilmore explains the changes. "Following customer feedback we decided to make some alterations to the way in which the site is navigated. Pages are now easier to navigate and load times have been significantly reduced".
The new site went live this morning and has already had some positive feedback from visitors. "The look and feel of the site is modern and fresh" says Gilmore, "and with the addition of some additional information about how selling your property with imove is made so easy, we are sure customers will find the site easier, clearer and more informative".
The newly designed imove Cornwall website can be found at : www.imovecornwall.org
imove Estate Agents Blog
Monday, 11 July 2011
Tuesday, 5 July 2011
House prices remained stable in June
The latest Nationwide House Price Index shows that house prices were unchanged in June and the price of a typical home in June is just 1.1% lower than one year ago. Demand remains subdued, but so does supply. The average house price is now £168,205.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "Stability remained the theme in June, with house prices flat over the month. This left house prices 1.1% below the level prevailing in June 2010. At 0.3%, the three month on three month measure of house prices was slightly weaker than the 0.6% pace of increase recorded in May.
"The property market has moved sideways over the past six months, and June's data suggest that trend is being maintained through the summer months. Housing market demand has remained subdued of late, as evidenced by the still weak level of mortgage applications in recent months and the sluggish pace of new buyer enquiries reported by surveyors.
"There have been a few encouraging developments for households, but to date this hasn't been enough to reinvigorate the housing market. Employment has been edging up and consumer confidence surged in May - although the latter may have had more to do with unusually warm weather and extra bank holidays, rather than signalling the arrival of any recovery-related feel good factor.
"Ultimately, these positives have not been enough to make up for the ongoing squeeze on households. With debt levels still high, the need to repair household finances is undiminished. However, sluggish economic growth, and wages rising at less than half the rate of inflation, means that consumers are struggling to make progress in repairing their finances.
"Developments on the supply side of the housing market are also failing to drive the market one way or the other. The low rate of building in recent years has limited the flow of new properties available for sale, while low interest rates are helping to support mortgage affordability and reduce the number of distressed sales. This has meant that the market has not become over supplied, despite the weak state of buyer demand.
"It's hard to make the case for prices rising or falling sharply over the remainder of 2011 if the economy develops as we expect. Economic growth looks set to gather pace in the months ahead, but is likely to remain unspectacular. This in turn points to only modest gains in employment and sluggish wage increases, which will continue to keep many potential buyers on the sidelines.
"At the same time, the chances of a near term increase in interest rates appear to have diminished. Ultra-low interest rates should continue to support affordability for some time yet and keep a lid on forced sales. Overall, a combination of low transaction volumes, still tight housing supply and flattish house prices looks set to stay for the remainder of the year."
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "Stability remained the theme in June, with house prices flat over the month. This left house prices 1.1% below the level prevailing in June 2010. At 0.3%, the three month on three month measure of house prices was slightly weaker than the 0.6% pace of increase recorded in May.
"The property market has moved sideways over the past six months, and June's data suggest that trend is being maintained through the summer months. Housing market demand has remained subdued of late, as evidenced by the still weak level of mortgage applications in recent months and the sluggish pace of new buyer enquiries reported by surveyors.
"There have been a few encouraging developments for households, but to date this hasn't been enough to reinvigorate the housing market. Employment has been edging up and consumer confidence surged in May - although the latter may have had more to do with unusually warm weather and extra bank holidays, rather than signalling the arrival of any recovery-related feel good factor.
"Ultimately, these positives have not been enough to make up for the ongoing squeeze on households. With debt levels still high, the need to repair household finances is undiminished. However, sluggish economic growth, and wages rising at less than half the rate of inflation, means that consumers are struggling to make progress in repairing their finances.
"Developments on the supply side of the housing market are also failing to drive the market one way or the other. The low rate of building in recent years has limited the flow of new properties available for sale, while low interest rates are helping to support mortgage affordability and reduce the number of distressed sales. This has meant that the market has not become over supplied, despite the weak state of buyer demand.
"It's hard to make the case for prices rising or falling sharply over the remainder of 2011 if the economy develops as we expect. Economic growth looks set to gather pace in the months ahead, but is likely to remain unspectacular. This in turn points to only modest gains in employment and sluggish wage increases, which will continue to keep many potential buyers on the sidelines.
"At the same time, the chances of a near term increase in interest rates appear to have diminished. Ultra-low interest rates should continue to support affordability for some time yet and keep a lid on forced sales. Overall, a combination of low transaction volumes, still tight housing supply and flattish house prices looks set to stay for the remainder of the year."
Mark Green from imove Cornwall , the UK ’s first not-for-profit online estate agents based in Cornwall
Imove provides a professional platform for sellers to sell their property and pay a one-off low fee of just £399 (with no VAT to pay). www.imovecornwall.org
Saturday, 2 July 2011
The cost of owning a home by the sea has more that doubled over the past decade
A Halifax report found that property prices in seven out of 10 seaside towns in England and Wales have seen greater increases than the national average since 2001.
Wadebridge in Cornwall, a few miles inland from the coast, saw the biggest rise in average house prices.
Prices in the town have risen from £100,406 to £370,902.
It is followed by Maryport in the Lake District, and Tenby in west Wales.
The Halifax found that six of the 10 seaside towns that have seen the biggest rise in prices since 2001 are in the north of England or Wales, with three in the south west of England, and one in East Anglia.
However, the 10 most expensive seaside towns remain in the south west of England, with property in Sandbanks in Dorset being the most expensive, followed by Padstow in Cornwall.
The average price of a house in Sandbanks is now £532,652, while in Padstow it is £381,916.
Outside of England, the Mumbles in Swansea has the highest average house prices, at £263,494.
Nitesh Patel, housing economist at Halifax, said: "Seaside towns have always been popular places to live, but they have perhaps become even more so in recent years.
"This is certainly true if we take house prices as an indicator of desirability."
Yet not all seaside towns have high house prices.
At Withernsea in the East Riding of Yorkshire, the average cost of a home is £99,153.
Rhyl on the north Wales coast has the lowest seaside house prices in Wales, with an average of £121,838
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Wadebridge
Wadebridge in Cornwall, a few miles inland from the coast, saw the biggest rise in average house prices.
Prices in the town have risen from £100,406 to £370,902.
It is followed by Maryport in the Lake District, and Tenby in west Wales.
The Halifax found that six of the 10 seaside towns that have seen the biggest rise in prices since 2001 are in the north of England or Wales, with three in the south west of England, and one in East Anglia.
However, the 10 most expensive seaside towns remain in the south west of England, with property in Sandbanks in Dorset being the most expensive, followed by Padstow in Cornwall.
The average price of a house in Sandbanks is now £532,652, while in Padstow it is £381,916.
Outside of England, the Mumbles in Swansea has the highest average house prices, at £263,494.
Nitesh Patel, housing economist at Halifax, said: "Seaside towns have always been popular places to live, but they have perhaps become even more so in recent years.
"This is certainly true if we take house prices as an indicator of desirability."
Yet not all seaside towns have high house prices.
At Withernsea in the East Riding of Yorkshire, the average cost of a home is £99,153.
Rhyl on the north Wales coast has the lowest seaside house prices in Wales, with an average of £121,838
Monday, 27 June 2011
Mortgage Lenders Continue To Let Down House Hunters
Buyers are still failing to overcome the significant barriers to home ownership that the current housing market represents, according to the National Association of Estate Agents (NAEA).
The latest monthly market report from the NAEA showed only minor decreases across supply and demand during the month of May, when 275 people registered with an average estate agents office, compared to 277 in April.
The average number of sales agreed per estate agency office stayed at eight for the fourth month in a row. But the percentage of sales to first time buyers increased from 21% in April to 24% in May. The average number of properties for sale per office decreased slightly from 69 to 68.
According to the NAEA, the combination of large deposit demands, pressure on household finances and the gloomy economic picture for theUK
President of the NAEA, Wendy Evans-Scott said: "Demand for property remains consistent but the barriers to buying are proving impossible to overcome for the vast majority of consumers.
Mark Green, Chairman of the UK’s first not-for-profit online estate agents, imove Cornwall says "The banks must find a balance between the easy ‘give-money-to-anyone’ lending of the past ten years and the strictness of the current mortgage lending rules; the governments attempt to force banks to lend has clearly failed and many buyers are still facing strict criteria which prevents them from obtaining a mortgage”
The latest monthly market report from the NAEA showed only minor decreases across supply and demand during the month of May, when 275 people registered with an average estate agents office, compared to 277 in April.
The average number of sales agreed per estate agency office stayed at eight for the fourth month in a row. But the percentage of sales to first time buyers increased from 21% in April to 24% in May. The average number of properties for sale per office decreased slightly from 69 to 68.
According to the NAEA, the combination of large deposit demands, pressure on household finances and the gloomy economic picture for the
President of the NAEA, Wendy Evans-Scott said: "Demand for property remains consistent but the barriers to buying are proving impossible to overcome for the vast majority of consumers.
Mark Green, Chairman of the UK’s first not-for-profit online estate agents, imove Cornwall says "The banks must find a balance between the easy ‘give-money-to-anyone’ lending of the past ten years and the strictness of the current mortgage lending rules; the governments attempt to force banks to lend has clearly failed and many buyers are still facing strict criteria which prevents them from obtaining a mortgage”
So is there a solution? “Well assuming the coalition will steer clear of introducing legislation to ‘force’ the mortgage lenders to actually lend there is no real solution, says Green. “I think we will have to sit it out and wait for them to begin lending in their own time”
House prices will have fallen over 30 per cent in real terms
Unless something odd happens, this week is likely to see an interesting but under-announced milestone: falls in house prices, in real terms, from their 2007 peak, exceeding 30 per cent (on the well-known Halifax measure). In cash terms, house prices peaked in August 2007, and fell 22 per cent to March 2009. After picking up a little in the second half of 2009 and early 2010, they went back to falling from mid-2010, and have been broadly flat during 2011.
But because inflation is high, that flat performance in cash terms for housing in 2011 means that, after adjusting for inflation, house prices have been falling apace. In real terms, since January 2010, house prices have fallen a further 12 per cent.
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David Gilmore from imove Cornwall says :
"In real terms, house prices are now down 20 per cent. They are now back to the levels seen in 2002 – a year in which prices rose around 19 per cent. If the experience of the 1970s and 1990s is duplicated, they would fall perhaps another 5 to 10 per cent. In our view they are only over-priced about 5 per cent now. But when there are large swings, markets overshoot. The price-earnings ratio is now around 4.4. In 1995, the price-earnings ratio fell below 3.1. Falling back to that would mean nearly 30 per cent further falls in prices – as much again as we’ve already had".
"If sellers are motivated to sell they need to be pricing their property to sell. Do your own research on average prices in your area and select a competitive marketing price".
imove Cornwall is the UK's first not-for-profit online estate agents. Sell any size property for just £399 (no VAT) with all profits donated to local good causes. www.imovecornwall.org
But because inflation is high, that flat performance in cash terms for housing in 2011 means that, after adjusting for inflation, house prices have been falling apace. In real terms, since January 2010, house prices have fallen a further 12 per cent.
"In real terms, house prices are now down 20 per cent. They are now back to the levels seen in 2002 – a year in which prices rose around 19 per cent. If the experience of the 1970s and 1990s is duplicated, they would fall perhaps another 5 to 10 per cent. In our view they are only over-priced about 5 per cent now. But when there are large swings, markets overshoot. The price-earnings ratio is now around 4.4. In 1995, the price-earnings ratio fell below 3.1. Falling back to that would mean nearly 30 per cent further falls in prices – as much again as we’ve already had".
"If sellers are motivated to sell they need to be pricing their property to sell. Do your own research on average prices in your area and select a competitive marketing price".
imove Cornwall is the UK's first not-for-profit online estate agents. Sell any size property for just £399 (no VAT) with all profits donated to local good causes. www.imovecornwall.org
Thursday, 23 June 2011
Online agents could kick start the housing recovery
Imove Cornwall is the latest online estate agents to open it’s virtual doors to the Cornish property market and it is claimed these new breed of digital agencies could kick start the housing recovery.
David Gilmore, from imove Online agents are certainly cheaper than traditional agents. High street agents tend to charge percentage fees based on the sale price of your property but with nothing to pay if you don't sell.
In the height of the property boom some agents would charge as little as 1 or 1.5% but a sluggish market has seen that creep up to around 2.5%. This means selling a £200,000 property would cost £5,000 plus VAT.
Online agents on the other hand tend to offer a range of pricing options. Typically these include a flat fee option and other pricing deals which have a smaller upfront fee and another fee on completion.
Currently imove
Imove director Mark Green says the site offers massive internet coverage for a simple low cost. “We are in the process of developing additional fee options for customers, which we hope to launch within the next few months”
“High Street agents charge a fortune in fees in order to cover the colossal overheads of multiple premises and the wastage from 'no sale-no fee' which, attractive as it initially sounds, means that the successful seller heavily subsidises those that do not sell” says Green.
Most online agents get your property as much coverage on internet property portals as traditional estate agents do. But many do not offer local newspaper advertising. Imove claims to be different as it offers it’s customers local newspaper advertising at cost price.
“Most estate agents will advise seller’s that newspapers do not attract buyers” says Mark Green from imove, “however many seller’s still want their property advertised in the local newspaper. With imove seller’s can purchase cost-price advertising”.
Imove Cornwall was launched in June 2011 and is the
http://www.imovecornwall.org/
Wednesday, 22 June 2011
Renting is more expensive than buying
Renting a home in Britain
The research looks at the current asking prices and rents of two-bedroom flats around the country and assumes interest-only mortgage payments of 5% p.a. to provide a comparison to the cost of renting.
The range of results by location provides some very interesting insight into where it is best to rent instead of buy and vice versa. Milton Keynes tops the list of places where renting is the far less attractive option with average rents exceeding the cost of servicing a mortgage by a staggering 43%, leaving renters there on average £2,964 per year worse off compared to owners. At the other end of the scale, it is currently much more cost effective to rent inPoole than buy with renting 27% cheaper and the average tenant better off by £3,240 per year by renting instead of buying.
Even inLondon
Nicholas Leeming, business development director of Zoopla.co.uk, commented: "The relative cost of renting as opposed to buying has increased over the past 12 months as rents have risen and house prices and interest rates have remained flat. Almost 750,000 would-be first-time buyers have reluctantly ended up as renters over the past 3 years as a result of being unable to get a mortgage. With current house prices and interest rates where they are and with rents on the rise, for those who can get a mortgage, there may never have been a better time to buy."
The research looks at the current asking prices and rents of two-bedroom flats around the country and assumes interest-only mortgage payments of 5% p.a. to provide a comparison to the cost of renting.
The range of results by location provides some very interesting insight into where it is best to rent instead of buy and vice versa. Milton Keynes tops the list of places where renting is the far less attractive option with average rents exceeding the cost of servicing a mortgage by a staggering 43%, leaving renters there on average £2,964 per year worse off compared to owners. At the other end of the scale, it is currently much more cost effective to rent in
Even in
Nicholas Leeming, business development director of Zoopla.co.uk, commented: "The relative cost of renting as opposed to buying has increased over the past 12 months as rents have risen and house prices and interest rates have remained flat. Almost 750,000 would-be first-time buyers have reluctantly ended up as renters over the past 3 years as a result of being unable to get a mortgage. With current house prices and interest rates where they are and with rents on the rise, for those who can get a mortgage, there may never have been a better time to buy."
Source: UKPropertyShop
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