Record month forecast for new property on the market

A property listings site has reported that the number of new homes coming onto the market in the UK in the last two weeks is 13 per cent higher than at the same time last year.

The extra property on the market could be a result of sellers rushing to get in before the compulsory introduction of home information packs (Hips) on June 1st, website Primemove.com has suggested.

Founder of the website Henry Pryor said that Easter was always a time when a lot of new homes were put up for sale.

"Traditionally we would expect around 210,000 properties to come onto the market in the month of April but we are already well ahead and it looks like we can expect a record month," he stated.

While Hips have gained a mixed reaction from industry experts, the Association of Home Information Pack Providers (AHIPP) claims that they will "improve the house buying and selling process for all involved".

The organisation said that if just ten per cent of consumers opt to follow energy saving guidelines contained in the packs, C02 emissions could be reduced by as much as 320,000 tonnes every year.

Pizza restaurant 'new sign of rising area affluence'

Landlords looking for an up-and-coming area to invest in should watch out for pizza restaurants and German cars, it has been claimed.

Property listings site Primemove.com said that areas in which a PizzaExpress restaurant had opened in the last 12 months had seen, on average, house price growth that was four per cent higher than the typical UK rate.

Other signs that an area was about to "arrive" included houses being redeveloped, the conversion of former commercial premises around the back of houses, shingle gardens with potted bay trees and German cars, the firm claimed.

Founder of Primemove.com Henry Pryor said that old pointers such as coffee shops should be disregarded and investors should look for things that the middle class young professionals craved.

"The skill is to spot those signs of change as early as possible and we have identified that the arrival of a PizzaExpress is a strong sign that change is taking place and house prices are likely to rise," he commented.

The firm noted that new PizzaExpress restaurants are set to open in areas including Milton Keynes, Worcester and Brighton this year.

A similar study from ING Direct indicated that crowded buses, traffic wardens and burglar alarms were signs of an area's rising affluence.

Landlord Mortgages “Buy To Let property investors should take head of these findings but not be influenced too much as most tenants rent the more affordable properties that are located away from Pizza Express.”

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