Zoomf Blog - UK Property Blog.

• New-build crisis means that homes fall empty. Latest stats show an increase of 10,000 empty homes which brings the total of property sans inhabitants to 672,924, this is the first increase in empty homes in nine years. Read more at The Times.
• Experts fail to agree on housing market. What, really? Chris Giles tries to piece together whether a stumbling housing market automatically means a stuttering economy. Read more at The FT.
• Only 13% of mortgage borrowers have mortgage payment protection insurance. Maybe we should stop burying our heads in the sand. Read more at FirstRung.
• America’s house prices are falling even faster than during the Great Depression. And it’s even worse than it sounds according to Yale economist Robert Shiller. Read more at The Economist.
• Social media and ROI. Is blogging and other social networking activities worth the effort? Well that depends on you. Read more at AgentGenius.
• Are you a blood, crip or an old school Windows kid? (via FrostFireZoo)

Technorati Tags: Property, real estate

Everyone seems to have something to say about Nationwide’s latest figures and Peter Bolton King, Chief Executive of the National Association of Estate Agents, believes it’s not all bad news and that stability does seem to be returning to the market. He had this to say…

“The national sales figures do not tell the whole story. We know from our members that the picture is still very regional with some areas continuing to do better than others. Indeed, our recent survey of agents records some stability returning to the market in the number of sales agreed, the number of viewings before a sale is secured and the average difference between asking and sales price.

“The issue here is consumer confidence. It is apparent from our own survey results that some people are adopting a ‘wait and see attitude’, watching the market, before making any decisions, which is affecting prices. There is no denying that the credit crunch and tighter economic factors have affected confidence in the market but it is still important to remember that the underlying factors that support the property market remain: low unemployment, historically low interest rates and a latent demand for houses.”

Technorati Tags: Real estate, property, economy

You’d have to be living under a rock (albeit a rapidly devaluing rock) to have missed Nationwide’s most recent House Price Index results. The average British house lost 2.5% off its value during May and over the past year house prices have fallen by an average of £8000. David Stubbs, RICS senior economist, had this to say on the latest figures:

“The difficulties in the mortgage market are stretching accessibility and threaten to reduce transaction levels by 40% this year. With buyers unable to secure financing on reasonable terms, some sellers are now choosing to cut prices. The market will only stabilise once transaction volumes recover. The Government and the Bank of England should continue to implement measures to restore the smooth functioning of the mortgage market, before the drop in transactions and prices begins to really hurt the economy.”

Technorati Tags: Real estate, property, economy

• House prices fall at fastest rate since records began. Okay that’s not necessarily as biblical as it sounds, but Nationwide have been recording data for 17 years so it’s a pretty big deal. The average British house lost 2.5% off its value during May, the seventh consecutive monthly fall in house prices. Read more at The Times.
• Mayfair still most expensive in the world for offices. Nationwide’s bad news doesn’t seem to cover Mayfair’s offices, the West End is still holding the medal for the most expensive square footage of office space, with prices increasing to around £150.7 per sq ft in the year to March 31. Read more at the FT.
• HIPs reduce transaction times by 12 days. Love ‘em or loathe ‘em, Connells have completed a detailed analysis and found them to speed up the transaction process by an average of 12 days. Read more at NRG Experts.
• Foxtons loses it’s £20,000 commission claim. Does this spell a change for the way joint agency agreements work? Read more at the BBC.
• The perfect birthday cake for your tech guy. Although a real geek will tell you that Scotty would never be in the navigator seat (via FrostFireZoo)

Technorati Tags: Property, Real Estate