Here's our round up of property news stories from the week just past.
The Guardian featured the news today that house prices have risen again this February, marking the fifth consecutive month to show an upward trend in the property market. Using data provided by Nationwide, the 0.2% increase is but a small one, but nonetheless hints at a positive outlook for the future as both mortgage lenders and homebuyers begin to tentatively regain their confidence.
A study of Land Registry data has revealed that since 2007, two fifths of homes in England and Wales have unfortunately sold at a loss. Reported in the Telegraph this week, the figures also showed that 56% of the homes sold did in fact turn a profit for their owners. Although it is awful news for the homeowners that lost money, Simon Rubinsohn, chief economist of the RICS, also points out that the drop in prices has also given first time buyers a better chance of getting on the property ladder.
If you’re concerned that your small garden may put buyers off, worry not. This week the Independent has reported that the first compromise househunters are likely to make is over the size of their new home’s garden, followed by whether or not they have a downstairs toilet. Unsurprisingly, the number of bedrooms was the sticking point where buyers were least flexible.
Look at this castle in Surrey that a farmer built, and then hid under haystacks for years in an attempt to avoid the usual planning permission laws! You’ve got to hand it to him, it was a bold move and looks like a very nice home; however he has since lost his battle with the local council’s planning department and has been ordered to take down the building.