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House price rises could be a real problem for first-time buyers in the Bexley Borough who are also likely to face increases in mortgage rates.

The warning has come after Halifax said house prices rose 0.8% last month, and by 4% annually, to stand at £225,109.

Halifax said the figure is a record high.

It is however considerably lower than a number other indices, including Rightmove which said that new asking prices in September averaged £310,000 – a gap of some £85,000.

Halifax does not include cash sales in its data and this is solely on their own mortgage approvals.

Russell Galley, managing director of Halifax Community Bank, said: “The annual rate of growth has picked up for the second consecutive month” this was after the 0.8% rise in September followed a 1.5% increase in August.

“The average house price is now £225,109 – the highest on record.

“House prices in the three months to September were 1.4% higher than in the previous quarter, the fastest quarterly increase since February.

“While the quarterly and annual rates of house price growth have improved, they are lower than at the start of the year.

“UK house prices continue to be supported by an ongoing shortage of properties for sale and solid growth in full-time employment.

“However, increasing pressure on spending power and continuing affordability concerns may well dampen buyer demand.

“There has been recent speculation on the possibility of a rise in the Bank of England base rate. We do not anticipate this will have a significant effect on transaction volumes.”

To make sure you are getting the best rate and product possible, we advise speaking with our in-house mortgage advisor. To arrange an appointment contact us on 0208 304 0666.

 

 

Anthony James' Landlord Live Seminar has been extremely popular, so much so that they have nearly sold out of tickets.

Anthony James are urging anyone interested in the event to register for their tickets now before they are all gone. Book Now

The event is being held at the Bexleyheath Marriott Hotel on Thursday 28th September from 7pm.

 

The evening will include seminars on the following;

How to Be The Early Bird - Learn about HOT properties before everyone sees them on Rightmove and Zoopla

Finance. How buy to let mortgages work and how to get the best deals

ASTs. They sound simple but what are the main problems.

Referencing A Tenant. How bad tenants get into properties and how you can stop them.

Fundamentals - Common mistakes and how to avoid them.

The Future - What's next for Buy To Let and how can you protect your positions and capitalise.

Profitability - How to make Buy To Let more profitable

What Your Tenant Really Thinks - A special insight to how your customer feels about you.

Earn Rent Even If the Property is Empty. Really? is that possible. Anthony James shows how

Q & A - Your chance to ask Industry experts their opinions on Buy To Let and any questions you have.

Landlords will also benefit from a free buy to let Heath Check of their portfolio to ensure its optimised.

 

Expert Speakers include :

Mr John Day. A veteran in tenancy law and protecting landlords rent. Over the past 20 years John has saved hundreds of landlords, thousands of pounds damages, missed rent and legal bills. John provides a new a re freshing insight into how landlords can sleep well at night and avoid tenants from hell.

 

Mr Victor Solarin. A fully qualified CeMap mortgage advisor. Victor has 25 years experience financing landlords and helping them understand and obtain the best deals in the market.

 

Mr Eamonn Delaney. An industry expert and speaker. Eamonn has worked in the property industry for over 24 years. His knowledge spans many areas from being an auctioneer, finance advisor, property management specialist, land and new homes developer and estate agency sales director. His overall knowledge is unrivalled  and well rounded. A lateral thinker, Eamonns views are thought provoking unique.

 

Mr Tom Staples. Local Market Specialist. Tom has worked in the local areas for 10 years and has a wealth of knowledge about tenants and market trends. His knowledge is insightful and provides landlords the insight needed to be a success.

More Speakers to be announced.

 

 

These are genuine calls, letters and emails received in Estate Agency Offices. We hope they make you laugh.

Tenant to Agent

  • I am writing on behalf of my sink, which is running away from the wall
  • I wish to report that tiles are missing from the roof of the outside toilet and I think it was bad wind the other night that blew them off.
  • I request permission to remove my drawers in the kitchen.
  • The toilet is blocked and we cannot bathe the children.
  • Will you please send a man to look at my water, it is a funny colour and not fit to drink.
  • Our kitchen floor is very damp, we have two children and would like a third so will you please send someone to do something about it.
  • The toilet seat is cracked – where do I stand?
  • I have had the contractor down on the floor six times, but still have no satisfaction.

 

Buyer to Agent

  • My position, my house is under offer to a First Time Buyer so in effect i'm as good as cash, chain free.
  • I'd like to offer £300,000 but I will go to £320,000 if pushed.
  • "I'm looking for a house in this area"... Agent:"Where are you calling from?"...." My mobile"
  • "I'm going to be 10 minutes late for my viewing, can your agent hold on?"... Agent:"No problem, where are you?"..."Just about to leave my house and catch the bus"
  • £30,000 off asking price, it needs new carpets!!!

Seller to Agent

  • Great job getting the asking price, but can you see if you can get £2000 more but try and make it feel like they've got a bargin.
  • The headstone? That's my great grandfather.
  • We are looking to buy somewhere else but tell them it's chain free.
  • Do they want me to leave the bespoke blinds? if so how much will they pay for them? We have no use for them.
  • They can come round and view but they can't look in all the rooms.
  • This is the largest on the plot, the developer built it for himself.

Solicitor to Agent

  • I update this buyer everyday with the same thing, it's like talking to Dory.
  • 9 times out of 10 you'd be 100% correct
  • My assistant is looking at the file, she knows what's going on.
  • When are we looking to exchange?
  • Do you know if the client is still looking to proceed?
  • Ready when the buyer is
  • I can't understand this client, there is an enforcement order and they still want me to proceed.

Surveyor to Agent

  • Yes it's in good condition, how many bedrooms is it again?
  • I don't know what the problem is but it doesn't look serious.
  • When you say 2 up 2 down, what do you mean?

Landlord to Agent

  • One of the other tenants is going to steal his milk and when he pops to the shop, I'm going to swoop in and change the locks.
  • It's ok, if there's any problems, I just live next door.
  • It's a 6 bedroom house but it was originally a 4 bed with 2 reception rooms.
  • I don't want to include the garage, I have a lot of things in there I don't want anyone to see.
  • The market rent might be £700 but I need £900 to cover my mortgage.
  • Do you think the tenants will want to buy it in a couple years time.
  • I will fix the tenants boiler the minute I come back from holiday, until then I have my own problems.
  • They can have dogs but not ones that bark.
  • The tenant needs to understand that if they don't pay the rent, I'm going to be the one who gets evicted.

THURSDAY 28th September 7pm.   Bexleyheath Marriott Hotel

1 the Broadway Bexleyheath  DA6 7JZ

 

This event is aimed at providing landlords the competitive insights they need be a success at Buy to Let.

The information provided is totally free of charge, not found on the internet and hosted by industry experts.

If your serious about being a Landlord then this is one event not to be missed.

 

The evening will include seminars on the following.

How to Be The Early Bird - Learn about HOT properties before everyone sees them on Rightmove and Zoopla

Finance. How buy to let mortgages work and how to get the best deals

ASTs. They sound simple but what are the main problems.

Referencing A Tenant. How bad tenants get into properties and how you can stop them.

Fundamentals - Common mistakes and how to avoid them.

The Future - What's next for Buy To Let and how can you protect your positions and capitalise.

Profitability - How to make Buy To Let more profitable

What Your Tenant Really Thinks - A special insight to how your customer feels about you.

Earn Rent Even If the Property is Empty. Really? is that possible. Anthony James shows how

Q & A - Your chance to ask Industry experts their opinions on Buy To Let and any questions you have.

Landlords will also benefit from a free buy to let Heath Check of their portfolio to ensure its optimised.

 

Expert Speakers include :

Mr John Day. A veteran in tenancy law and protecting landlords rent. Over the past 20 years John has saved hundreds of landlords, thousands of pounds damages, missed rent and legal bills. John provides a new a re freshing insight into how landlords can sleep well at night and avoid tenants from hell.

 

Mr Victor Solarin. A fully qualified CeMap mortgage advisor. Victor has 25 years experience financing landlords and helping them understand and obtain the best deals in the market.

 

Mr Eamonn Delaney. An industry expert and speaker. Eamonn has worked in the property industry for over 24 years. His knowledge spans many areas from being an auctioneer, finance advisor, property management specialist, land and new homes developer and estate agency sales director. His overall knowledge is unrivalled  and well rounded. A lateral thinker, Eamonns views are thought provoking unique.

 

Mr Tom Staples. Local Market Specialist. Tom has worked in the local areas for 10 years and has a wealth of knowledge about tenants and market trends. His knowledge is insightful and provides landlords the insight needed to be a success.

 

 

More Speakers to be announced.

Rents in London boroughs of Bexley and have recorded their first annual drop for eight years. The drop is noticed across the entire capital but Bexley and Greenwich saw some of the largest falls as did the south east including Dartford and beyond.

In April, the average rent in the capital was £1,519, £18 lower than a year earlier, and the first annual decrease since 2009, placing downward pressure on rental price inflation across the UK, which dropped to its lowest level for seven years.

Rents in the South East of England have also declined, by an average of 0.4%.

UK rents in April were just 0.4% higher than a year ago, with the average monthly rent now standing at £904; this is the lowest rental price inflation figure since February 2010,.

Tommy Staples, Director of Anthony James commented: “Rents have been rising at a more modest pace for some time now.   This is normally a precursor that the market is about to pivot.” Some pundits believe the changing market could be a response to seasonal supply being higher as a result of last years stamp duty rush, but Tommy doesn’t agree with this opinion.

“It appears we may have hit an affordability ceiling. Young millennials are finding it hard to rent on their own with almost 60% of their post tax income going on rental.   This is leading to the rise of room sharing with friends which in the long term could pose problems for landlords”.

For more information on getting the right price for your rent please contact Tommy on 0208 304 0666 or This email address is being protected from spambots. You need JavaScript enabled to view it.

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