Ideal Property » Market News

House Prices: Whose Guess Is Best?

Stephen Dyer — Sat, 06 Feb 2010 07:06:01 +0000

You shouldn’t feel alone in not understanding where your homes value is heading. Its perfectly normal to respond when asked the question with “I dont know!”

Before you ask me – let me confess, I don’t know either.

Worryingly – there are a growing number of property “experts” being willingly led by TV presenters and journalists into serving up to the public detailed house price predictions for the coming years and months ahead. These impossibly detailed opinions are often accompanied with the scantest evidence. Why are these people simply unable to find the courage to admit that they don’t know?

To be fair TV presenters often ambush property finders and estate agents at the end of their interviews with this question but their opinions, if expressed are very likely to embed themselves into thousands of already overloaded vulnerable minds.

In my view only economists and financial institutions involved in the property market as lenders or investors should be asked for opinions on house prices.

Property Prices Opinion Makers: Still on the Fence?

Stephen Dyer — Mon, 30 Nov 2009 10:33:39 +0000

Our friends at Hometrack are reporting the good news that the average house price has grown for the fourth month in a row by 0.2%. Although still down 2.9% year on year. The reason is not that the UKs Estate Agents have been over overwhelmed by confident property buyers eager not to get pipped at the post but that there is a real shortage of stock.

The average house price is now £156,700. London and The South East, the area Ideal Property cover, is registering the highest price increases. The playing field has never been more level (leveller?) I cannot remember a time where so many buying opportunities have existed. I am hearing of some incredible deals being done. I am thankful that my property buying clients agree with me that a property is for life, not just for Christmas.

James May has LEGO of his Latest Building Project!

Stephen Dyer — Wed, 28 Oct 2009 09:08:37 +0000

This two storey multi coloured detached property was constructed of lego and set in the glorious countryside recently failed to find a buyer even though the asking price was £0!

1,000 volunteers built the house for a BBC programme fronted by Top Gear TV presenter James May and inspite of the selling features which included a working toilet, running taps and a very uncomfortable bed this attractive multicoloured house has been demolished as Denbies Wine Estate in Dorking, where the house was situated, need the land to harvest grapes.

The buyer would have had to spend at least £50,000 moving the house to another site and no one was wise or foolish enough to see the opportunity. Legoland, the obvious contender, withdrew from ‘an agreement’ to move the house there probably due to the high cost of moving it.

There are few deals I miss but 3.3 million lego bricks for my 5 year old have passed me by!