Quinton Scott

Extreme weather puts a freeze on activity but prices continue to rise

The January 2010 RICS Housing Market Survey showed an increasing number of surveyors seeing price rises rather than falls. The seasonally adjusted net balance of surveyors reporting rising rather than falling prices rose to 32% in January from 30% and is now only slightly below

November's recent high of 35%.

However, buying and selling fell during the month; respondents to the survey attributed this to the extreme weather conditions experienced in the early January. The new buyer enquiries net balance fell to -20% (from +18%), the agreed sales net balance fell to -15% (from +19%) and the new instruction net balance fell to -5% (from +15%).

To view the RICS Housing Market Report please click on link below.

http://www.rics.org/site/download_feed.aspx?fileID=5828&fileExtension=PDF

John King, Director of Quinton Scott comments: 

'Transactional levels are improving which is further evidence of the recovery.  The top end of the market, circa £3-£5M is in short supply at present and this is fueling Estate Agents' opiion on value.    Overall a good start to the year'.

A great development benefits everyone in the community, not just the developers.

Take The Pavilions, a development of flats and houses now under construction on an old company sports ground in Raynes Park.

The days when every office had its cricket, rugby and soccer clubs are long gone, and the old Royal and Sun Alliance sports ground in SW20 had been little used for years when the company decided to sell it.

The site was no longer viable as a sports ground, but the neighbours did not want to lose the open space and local schools desperately needed more playing fields. So an agreement was reached under which 40 flats and 10 town houses are allowed on a small corner, the rest of the ground was transferred as playing fields for school use.

Everybody wins – our schools get a place for sport, house hunters get a choice of brand new homes next to an attractive open space, and the developers get a reasonable profit.

We are proud to have advised on the sale of the development land last year. The Pavilions is finally under way and construction has commenced .

Quinton Scott are selling the flats and houses on behalf of Groveland Estates. For further information please contact Quinton Scott on 020 8971 6780

The law of supply and demand dealt the lettings market an unseen blow last year. Home owners who were unsuccessful in selling their properties offered them to the market to let instead. This dramatically increased the supply with the inevitable result that saw rent values fall in some cases by as much as 15%.
  
As we approach May the pick up in demand by potential purchasers to buy has given vendors new hope of selling their homes instead which has also helped stabilise the rental market Landlords with a superbly-presented product at the right rent can get new tenants in quickly.

A Quinton Scott client offered a lovely house in the exclusive enclave of Lordell Place SW19 for £5,500 pcm last month and it was let within a week.  This has secured £99,000 of rental income for the initial term of the tenancy.  The house was only empty for a fortnight, just long enough for a deep clean and a bit of maintenance.  The new tenant is not from the financial sector, needless to say. He's an oilman from Texas.

This is the fourth recent letting agreed to this petro chemical giant.