Property News Round-up 16/12/15

Property News – All The Latest Updates

Hi guys and welcome to another fortnightly edition of our property news round-up. As usual we take a look at an array of stories from the property industry, today we look at Yorkshire and the Northern Powerhouse to looking at some Christmas decorated homes (just don’t let Dave come round and put your decorations up – you’ll see why!), if you’ve been extremely busy like ourselves, they’ll hopefully give you some inspiration for when you do finally get round to putting your Christmas lights up!

 

Yorkshire Earns Its Place In The Northern Powerhouse

yorkshire northern powerhouse

In the past year the north of England has had a 30 per cent increase in construction and whilst Manchester and both Liverpool dominate, Yorkshire and Humberside are catching up with their north western rivals.

George Osborne’s Northern Powerhouse vision to give major northern cities their very own powers when it comes to planning, housing, transport, and policing, deals have already been discussed and agreed upon for Greater Manchester, Sheffield, and the North East.

However, when it comes to property, many analysts have stated that Yorkshire property growth is linked to simply supplying the housing that people want. Government schemes such as Help To Buy is one major factor that is helping to flourish “Gods Own County” when it comes to property, particularly for families who are starting out.

The county has definitely attracted people from the south, particularly from the capital, end of the day it’s no secret that you get more for your money up north compared with what you would get in the south. As the Examiner mention, the cash you part with for a two-bedroom flat in west London would get you a 10 bedroom, Grade II listed, detached house with three acres of land in Lindley, Huddersfield.

In addition, the vibrant and beautiful Yorkshire countryside and huge investment opportunities in retail, technology, and research plus its rich culture (which we mentioned about in a previous blog post).

With all these factors you can see why Yorkshire has become a crowded marketplace as it continues to compete with Manchester and Liverpool and this one reason why we have had quite a few projects in the region. If you are interested in Yorkshire, feel free to download our South Yorkshire guide.

 

Top Of The League – Manchester A Top Choice For Investors

manchester investment

Since 2010 no other place in the country has generated higher yields for property investors than the north-west city. (Select Property, December 2015).

Investors have gained annual average returns of 6.02%, compared to just 4.79% in London according to data which was generated from lending firm LendInvest.

2015 has been a great year for the city as it has cemented its place as the Northern Powerhouse leader to being named as the UK’s number one city for property investment by HSBC.

Last month a survey which was conducted by accounting firm RSM found that the north-west is the second highest UK region for overseas investment. With a vast amount of investment being poured into the Northern Powerhouse leader as well as having a huge demand for rented spaces, investors have been quick to snap up assets in the city ahead of a predicted growth curve.

 

Is The London Property Market Going To Crash?

London Property Crash

So what’s happening in the capital? To cut a long story short there’s simply too much supply and not enough demand. According to The Independent,  in the last financial quarter alone, 6,000 new apartments were finished, each costing more than £600,000. Currently there are 41,000 homes and flats under construction or being topped out in London priced at north of £1m.

People without children want to live in apartments, these include the  first buyers, buy-to-let investors, and people who’s main home is not in the capital. First-time buyers are therefore being prices out as they simply can’t afford a mortgage or afford to pay a deposit on a house.

In addition, foreign purchases from wealthy Russians and Chinese buyers has started to trickle. Vladimir Putin has put a crackdown on Russian citizens that hold cash overseas meaning that there has been less Russian buyers in London recently. Moving further east, China is also having a corruption purge as mentioned in The Independent.

So what does this all mean for the London property market? According to one property expert, it will take just one single developer not to sell, won’t be able to cover costs, and that’s when the crack will start to happen. He mentions that will be enough to send shockwaves through the market, and bring prices crashing down.

Are you looking for an alternative? If so, we recommend reading our crowdfunding process page to see if property crowdfunding is right for you.

 

Average Property Price Increases to £20,000 in 2015

stamp duty

Figures from Rightmove show that the average selling price for a home in December was £289,452, an increase of around £20,000 from the average house price a year ago. (Which, December, 2015).

The property portal mentioned that the seasonal 1.1% dip in property prices this month is the lowest December fall they have seen since 2006.

They have predicted that prices will reach new records next year and expects new seller asking prices to rise by 6% as the demand in excess of suitable supply continues.

As a result of prices remaining high in London, highly-skilled workers may look for other options and move to more affordable cities such as Manchester, Edinburgh, Cardiff and Leeds.

 

Decorated Christmas Homes – Let it Glow Let it Glow Let it Glow!

christmas lights UK

If you’re like me and leave your Christmas decorations to the last minute and if you are a big fan of Christmas lights you might want to take a look at some of the most Christmas decorated homes in the UK.

If you’re looking at decking up your front with fairy lights we think the 9th example is quite a good one to go for. If you like to go nuts with your lights and Christmas decorations how about the first example?

We’d love to see your creativity, feel free to tweet us your decorated home @TheHouseCrowd.

I hope you can do a better job than me! This is what it would look like if I was left in charge…

christmas decoration fail

 

Image Sources : Telegraph Heavy

 

What Are Your Thoughts?

Which of our chosen property stories has interested you the most? We would love to hear from you, feel free to leave us a comment on our Facebook and Google Plus pages. If you prefer to tweet us, tweet @TheHouseCrowd.

In the meantime if you want to know more about Property Crowdfunding do register for our Information Pack which will tell you all about it. 

Register Now For More Information

 

Property values can fall. Your capital may be at risk & returns may vary. Read our Risk Warning.

Property Still Holds Value Post Brexit

Following the EU referendum vote in late June, there has been a lot of uncertainty in the industry from homeowners, landlords, and housebuilders, all questioning what the future holds for the property market.

Examples such as a £40,000 price reduction in average prices in the capital have set alarm bells ringing.

However, in spite of these uncertainties, some good news is that the regional property market is looking up.

A lot has happened this year, not only with the result to leave Europe, but also in terms of legislation. We’ve seen changes to stamp duty on buy-to-let purchases, as well as changes to rules on multiple occupancy, both of which had an impact on local property markets.

The ramifications of George Osborne’s legislation, as expected, was a significant drop in the number of investors registering to purchase buy-to-let properties.

Moreover, whilst general applicant/buyer registration and property viewings also declined slightly, the number of offers being made were actually up, and sales were also on the up.

Turning our attention to our local area, predicted house price growth in Manchester for 2016-20 stands at 24.6% and rental income for the period is expected to rise by 22.8% (stats taken from MEN)

Examples (which we have recently blogged about) such as Moorfields and Glenbrook’s £40 million residential development and Yo! Homes luxury flats are not only exciting projects, but are are an essential part of the city’s residential strategy to deliver additional, high quality housing.
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View our Property Investments

So what does this mean for investors?

Firstly, because of the shortage of homes across the length and breadth of the UK, there is little alternative to continuing to invest in residential developments. Doing so will keep the residential property market strong.

In addition, Manchester has been identified as the top city for rental yields. According to LendInvest’s research, the average rental yield in Manchester reached 6.8% between 2010 and 2016.

Research from HSBC, conducted last year, showed that the northern city offered the best yields, with 26% of the population here living within the private rented sector.

Despite the uncertainty of the Brexit vote, the ramifications of leaving the EU could create opportunities for investors, particularly those who are experienced with property investing. Potential property buyers might be put off by the softening of recent house prices, but at the end of the day, they still need somewhere to live, which is great news if you’re a landlord. If property prices do cool – it’s fair to say that investing in property will be very tempting.

So to sum it up, property still holds value post Brexit. Bricks and mortar remain one of the stronger investment choices, as volatility in the stock market means that tangible assets at this moment in time are essential for any investor’s portfolio.

As quite a few commentators have mentioned, a lot of the media focus has been on the ramifications of Brexit vote in London and the South East. However, we strongly believe that the north is a strong alternative with entry prices significantly lower compared with the capital, as well a great place to obtain yields from the likes of student rented accommodation.

In the north we trust!

 
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Property News Round-up 6/4/16

Property News All The Latest Updates

 

Hi guys and welcome to another fortnightly property news round-up, today we once again take a look at the latest goings-on in UK property from the north-south house price divide to looking at Ringo Starr’s childhood home in Liverpool – one for you Beatles fans out there!

 

North-South House Price Divide Continues

uk property map

 

House prices in northern England are now less than half those in the south of the country, according to the Nationwide – a new record. (BBC, April 2016)

In the north, on average a property is worth nearly £163,000 less than one in the South.

Stats from Nationwide show that in the first quarter of 2016 prices in Southern England rose by 9.9% year-on-year, compared to just 1.8% in the North.

In addition Nationwide mentioned from their research that property prices were picking up, from the start of the year to March, house price inflation across the country hit 5.7% – up from 4.8% in February and the fastest rate for more than a year.

The building society mentioned that main reason centred around the increase was predominately linked to landlords rushing to buy property ahead of Stamp Duty increases.

Their stats show that property prices are rising the fastest in the London suburbs (an annual change of 12.2%), in contrast, Scotland and the north had an annual change of 0.2% and 1.1% respectively. Click here to view the full list of regional house prices here.

Are you looking for an alternative when it comes to property investing? Why not check out latest regional investments here.

 

Property prices Soar By 47,000 % In The 90 Years Since The Queen Was Born

Queen Property

National Statistics (ONS) and data from Jackson-Stops & Staff found out that between 1926 and the outbreak of the Second World War in 1939, average UK house prices rose by only £40, to £659, a rise of 6.5 per cent. (City A.M., April 2016)

However, by the early 50’s property prices in the country had jumped more than threefold to £2,006. By 1966 (what a glorious year that was! ?) house prices were over £3,000. In the 70’s, prices rose by 331 per cent to £12,704, rising to £36,276 in 1986, by the mid 90’s prices had doubled to £69,889.

According to Jackson-Stops & Staff’s calculations, if prices continue to rise at the same rate as they have in the last two decades, the average property will cost £1.3m when Prince Charles celebrates his 90th birthday in 2038, and £11.3m when Prince William reaches the same age in 2072.

For further reading you can view City A.M.’s article here.

 

Two In Five Of Us Look Up The Prices Of Homes Owned By Friends & Family

nosey neighbour

 

It seems that snooping up on our neighbours is nothing new and has evolved with the digital age.

More than 38 per cent of Britons have checked the price of someone else’s home online in the past year – including the properties of neighbours, family and friends – according to the findings by insurer Direct Line. (This Is Money, April 2016)

The research showed that out of the 19 million Brits who have looked up someone’s home, 52 per cent looked at their neighbours’ homes online, 38 per cent look at their family’s homes and 31 per cent at friends’ houses, now that’s a lot of snooping if you ask me!

In addition, Direct Line’s research showed that 10 per cent of people look online at the homes of their colleagues.

Head of Direct Line Home Insurance, Katie Lomas told This Is Money : “We are a nation of property obsessives with very good reason. Our homes are our castles and becoming a homeowner or even climbing the ladder in the UK is a huge challenge and aspiration for many.”

 

 

To Millennials Caught In The Rent Trap, The Panama Papers Matter

Iceland Panama Papers

As The Guardian’s Kate Lyons mentioned in her article yesterday, the Panama papers is the largest leak in journalistic history and the papers have led to the ramifications of the Icelandic PM Sigmundur Davíð Gunnlaugsson to resign after being accused of hiding millions in an offshore account.

So how does this link to millennials? For Generation Y, they are particularly frustrated with the political and economic status quo as well as the unjust activities of the rich that have been revealed from the Panama papers.

In a country where a lot of the millennial generation cannot afford to get onto the property ladder, the fact that thousands of properties are bought through tax haven-based companies, by people who are already wealthy enough to restructure their finances to take advantage of tax havens in tropical islands really matters to young people.

Home ownership is sadly out of reach for most young people in the UK, something that has been known and reported for a long time, we even conducted research on the matter back in October (which you can view here) – a sobering stat that we uncovered was that a quarter of under 30’s say they need someone to die before they can afford to buy a property.

This is where there is a link with the Panama papers. We know from recent reports just how much property is owned by companies linked with Mossack Fonseca and we can see the direct affect it is having with young people.

When turning on Sky News yesterday evening and heard about the news, being a millennial myself, I wasn’t surprised about what had happened. Hearing about the rich putting offshore money in tropical paradises such as the Cayman Islands and the British Virgin Islands to keep themselves even more wealthy and powerful isn’t new to us at all – however, this way of them finding tax loopholes comes at the expense of others.

Image Source : The Wall Street Journal

 

Childhood Home Of Ringo Starr Sells For £70K

Ringo Starr Liverpool Property

One for all you Beatles fans out there! The childhood home of The Beatles drummer Ringo Starr has been auctioned at the Cavern Club in Liverpool.

The terrace house with two bedrooms at 10 Admiral Grove in Toxteth and was where the former Beatle lived as a small child and until he was 21.

The Liverpool property had a guide price of just £55,000 ($78,000) and reveals the humble beginnings of the Beatles drummer.

Ringo’s childhood home was bought at auction for £70,000 by Jackie Holmes from London. She has previously bought the house of John Lennon’s mother in Allerton last April and George Harrison’s home in Speke the year before.

Unfortunately at The House Crowd we can’t help you invest in your favourite band’s former home BUT we can offer you some handy guides! If interested, we have guides on Manchester (North and Central) and also our South Yorkshire guide.

 

What Are Your Thoughts?

Which of our chosen property stories has interested you the most? We would love to hear from you, feel free to leave us a comment on our Facebook and Google Plus pages. If you prefer to tweet us, tweet @TheHouseCrowd.

In the meantime if you want to know more about Property Crowdfunding do register for our Information Pack which will tell you all about it. 

Register Now For More Information

Affordable UK property investment despite rising house prices?

House prices are racing ahead once more, and not just in London as recent – figures show increases are now spreading across the country.

The latest reports from Halifax and Nationwide put annual house price inflation at 8.7% and 9.5%, RICS has said as shortage in supply of quality homes for sale is pushing prices up making it even harder to access UK property investment.

RICs forecasts the average UK house price will rise by 6% a year for the next 5 years, increasing by a total of 35% by 2020.

If you are looking for to get your foot on the housing ladder and take advantage of the market, prior to the further rise in houses prices but haven’t got the money for a large deposit then don’t miss out.

With the power of crowd funding, you can invest through The House Crowd with just £1000, click here to find out how.

May keeps up it’s bullish reputation

This spring season has seen a national property average price rise of 3.6%, nearly a whopping £10,000, pushing the national average up to a record high of £272,003, said to be caused by the combination of the Easter and May bank holidays causing a lull in the number of properties coming to market at a time of high demand.

Whilst demand for housing remains strong (up by nearly 20% for Rightmove enquiries so far for 2014), the supply of new properties just can’t keep up. Early 2014 appeared to be a tease, fondling with an increase in new sellers.

Annually, the rate of increase is now 8.9% (the highest rise since October 2007 when it stood at 10.4%), yet whilst the housing market momentum is recovering, London is still letting the team down. New seller asking price in the big streets of London is up by 16.3% compared to an average of 4.9% in the rest of small town England and Wales. Translation? 2014 asking prices are up by around £4,405 per week in London whilst the weekly average for the rest of us is £1,521.

Indeed, outside London and its commuter belt, demand may be better balanced with supply by the more stringent checks and affordability tests under the Mortgage Market Review (MMR) that became mandatory less than a month ago. The main conclusion at present is that the delays in lenders’ processing systems are curtailing lending, with it being too early to comment whether mainstream buyer activity will have a significant drop-off from the new controls.

Where a major imbalance exists between supply and demand the long-term solution has to be to create more housing supply to meet any structural need rather than to artificially hold down demand. But with Spring over and the summer fast approaching, the lull in the market can only get better! This is where we come in! Here at The House Crowd, we believe Investors should “crowd” together, each providing a small amount of the money needed to purchase a suitable investment property at a good price,  typically an empty or run down property where we can add value through refurbishment. This in turn improves the supply of the housing market, creating fair value for money.

For full info on successful property investment click here; http://thehousecrowd.com/thehousecrowd/property-investments/

Is It Spring Time For Property Investment?

It is worth bearing in mind that, despite the property market being in the doldrums for the last 5 years, property investment as with all other markets, goes in cycles.

If you think of the property investment cycle as seasons in the year, we have been in winter for the last few years.  But the daffodils are starting to bloom and it looks like we may now be in spring – at least in terms of property investment. It may still be chilly, but it’s definitely getting warmer.

Pent up demand from first time buyers, low interest rates on savings and the banking crisis in Cyprus mean more people are turning to property as a safe haven. And this is particularly true of the British property market.

Britain is one of the most established property markets in the world, especially in terms of property investment financing. It is very different in terms of property supply and demand from other countries such as USA, Cyprus, Bulgaria and Dubai where the property prices were inflated because of demand caused by the perceived profits to be made (greed) and the sudden availability of easier borrowing rather than actual demand for accommodation to live in.

The UK market is very different.  I do not think there is any doubt more housing is required for the UK population. Without boring you with stats, for well over a decade, every survey I’ve seen has reported there is a massive shortfall in the amount of housing required to keep up with demand.  Further, the rate at which new houses are being built falls far, far short of predicted requirements. So the gap is widening every year.

It is interesting to note that every time The House Crowd buys a property – typically for about £50,000 – the rebuild costs for insurance purposes are upwards of £80,000 and often closer to £120,000. What that tells me is that if the cost of building new property is considerably more than existing stock (land values aren’t even taken into account in the example above).  Common sense suggests that few people will buy a new build property, when they can get a similar sized property for half the amount.  It is equally clear that developers aren’t going to build property unless they believe people will buy what they have to sell. And just to reiterate it: there is a shortage of housing which increases demand for available property.

It’s a complex relationship and there are differing viewpoints on how it works, but I believe that fairly soon builders will start building again in earnest. Once they start doing so, the price of old stock will be pulled up by the price of new builds as sellers realize they can achieve higher selling prices whilst still pricing their property competitively against new builds.

There are tentative signs that the property market is already beginning to warm up – you may well have seen the news headlines about average property prices now increasing at £25 a day. One factor for this is new investors putting their money into property as they are tired of the woeful returns provided by the banks and pension companies. We have noticed buy to let lending is becoming more readily accessible in the last 6 months.

But that is nothing compared to what will happen next year when the new government incentives kick in, giving buyers the ability to get on the housing ladder without raising a 20% deposit.

One thing I have learned throughout my time in property is not so much the price of a property but the affordability factor that is the biggest influence.  People’s income, the deposit required, the ratio income to borrowing permitted and interest rates all play a much bigger role than the actual price tag.

The government incentives coupled with low interest rates will have a massive affect and greatly increase the demand for property pushing prices higher (although salary levels will keep the increase in check to a degree)

That may be good bad or dangerous depending on your point of view. Some argue that it will create another bubble – and they may well be right. But in terms of achieving capital growth over a relatively short space of time (say the next 5 years), I believe 2013 will prove to be the ideal time to invest into property.  So get your sun cream and your sunglasses out.  A bright hot summer for property investment is on its way… Shame we can’t say the same for the British weather.

Home ownership, marriage or children?

Rather eye-catchingly, a recent Barratt Home Buyers study has found that individuals looking to buy a home consider this a greater priority in life than marriage or starting a family.

Whilst we consider this ‘study’ a rather sensationalist promotional tool, biased by the fact that survey recipients were home hunters quizzed by a housing company, it is perhaps worth considering what changes might be taking place in public perceptions as well-documented struggles for home ownership continue without an end in sight.

You only want what you can’t have, is a phrase that we believe can be applied to the aforementioned eye-catching statistic from the study. Demand for homeownership has risen perceptibly in young people over the last couple of years, as it has become more of a luxury than the attainable milestone it used to be. A decade ago it took 25 months on average to save a deposit for a new home, whereas it now takes a staggering 64 months , resulting in first time buyer numbers plummeting by 64% in 10 years.

The UK’s economic situation remains challenging and the principles of supply and demand matter now just as much as they ever have. Buying a first home is fast becoming a privilege attained only by a minority, and with this, public perceptions of owning a home may well be transforming and taking on a greater importance.

The House Crowd offers an alternative solution for first-time buyers struggling to raise a deposit for their first home. For as little as £1000, our crowdfunding property investment model provides a minimum annual return of 6%, in addition to a share of house sale profits – ideal for growing your deposit in order to take your first step onto the property ladder.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If you’ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).

The Manchester Mortgage

Manchester City Council looks set to announce a ‘Manchester Mortgage’ in the coming weeks, offering first-time buyers in the city a mortgage with just a five per cent deposit on properties up to the value of £142,500.

The scheme, which is similar to programmes already in place in nearby Oldham, Trafford and Rochdale, will see the council help struggling home-buyers access mortgages through Manchester Building Society and the Co-operative Bank, by underwriting up to 20 per cent of their loans.

It is anticipated the scheme will receive final sign-off -with a maximum £6m risk- from the council’s executive committee in late November.

Here at The House Crowd, we believe any reputable scheme aimed at providing a pathway to home ownership should be applauded. However, given that the council stands to receive at least £500 from partner lenders for every loan set up under the scheme, as well as boosts to council tax revenues, it is important to reiterate that programmes such as this need to be implemented with wholly transparent purposes to be successful. Here’s trusting this one is…

The House Crowd offers an alternative solution for first-time buyers struggling to raise a deposit for their first home. For as little as £1000, our crowdfunding property investment model provides a minimum annual return of 6%, in addition to a share of house sale profits – ideal for growing your deposit in order to take your first step onto the property ladder.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If you’ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).

The difficulties of taking that 1st step onto the UK housing ladder

Regardless of the struggles prospective homeowners are currently facing to secure a mortgage and find the right property at the right value, it is safe to say that most British households, as has long been the case, aspire to own their own home. However, the financial woes of the past few years have, understandably, created a more risk-averse public, which is something the current Government is now looking to address.

The Government is rolling-out a range of measures through equity finance instruments that limit risk, improve affordability and fund home buying, with the aim of boosting first time buyer confidence. Schemes like First Buy, which provides affordable new build housing to first-time buyers with a 5% deposit, are intended to share risk amongst the funders and buyer, as well as being of little or no burden to the public purse.

Another market-based product with comparable supposed benefits is a new partnership based mortgage aimed at middle-income households able to stump up a 20% deposit. This product involves an equity stake injection to lessen the risk of negative equity and, trusting that price increases remain limited, should reduce mortgage payments below those of a traditional mortgage scheme.

Clearly, some steps are being taken by those in power to address buyer-reluctance and stabilise the market. However, it is yet to be seen whether the relatively small number of incentives being introduced can achieve the right blend of risk, price, debt and target consumers to spark the intended revival of buyer confidence.

At The House Crowd we offer a solution for buyers struggling to raise a deposit for their ideal home. For as little as £1,000, our crowdfunding property investment model provides a minimum annual return of 6%, in addition to a share of house sale profits – ideal for growing your deposit.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If you’ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).

Higher or Lower – Getting your asking price right

There are various factors influencing the value of a property, from location, age and size, through to things like heating, windows and appliances. In short, it is fair to say each property is wholly individual. With this in mind, the valuation system used by Estate Agents, usually calculated from recent sale prices of similar properties in the area, is not an exact science and can also be subject to Estate Agent “inflation”.

Sellers, who genuinely believe their property has been incorrectly valued, at either end of the scale, should consider the following points before approaching their estate agent:

-          The recent sale prices of similar properties in your area don’t always tell the full story. Your property may be on a corner with a bigger garden, have newer double-glazing or more modern appliances within, equally, the recently sold properties may have these advantages. Ask yourself objectively, does the current value give a fair assessment of these factors?

-          If you believe your property is undervalued, as is quite often the case, consider that sometimes beginning with a below market price could generate more interest and result in a higher sale price, than if the asking price was higher to begin with.

-          It is widely speculated that setting your property price just below a round number will attract more potential buyers than setting the asking price at the round number itself. Think £199,950, instead of £200,000, this may explain an Estate Agents valuation of your property.

-          Costs involved with buying a property include Chartered Surveyor fees and stamp duty fees amongst others. Bear in mind the percentage of stamp duty that must be paid increases with property prices, so you may attract more buyers by setting your asking price below a stamp duty threshold – for example at £249,950 rather than £250,000.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If you’ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).