The Property Cafe - An estate agent like no other

Prices still static but sales are increasing

2011-05-31T23:52:00.001+01:00

House sales have increased during the last three months and are expected to rise further, according to a market survey.

Despite this, prices are expected to remain static or fall because of economic uncertainty, public spending cuts and the possibility of rising interest rates, said the Royal Institute of Chartered Surveyors study.

Ben Williams, senior valuer at The Property Cafe, said sellers needed to be realistic about prices.

"Prices went up by 50% and came down by 50% and it has taken a while for the market to accept that," he said.

He added a lot of old houses had been on sale but not reduced their prices or done so slowly. New Builds were being sold at more realistic levels and in some cases there were even bidding wars.

"People are obviously now a bit more cautious. A lot of the attention has been around headline points which can exaggerate the realities in the market," said Mr Williams.

According to the RICS survey, in April most said the number of sales increased during the last three months and was expected to continue rising in the three months ahead.

"Whilst prices are continuing to fall in some sectors and areas, other areas and property types seem to be more stable and to be experiencing higher demand.

"Overall there will continue to be headwinds during the remainder of the year with economic uncertainty, public spending cuts and the likelihood of rising interest rates later in the year for instance."

2011-05-04T22:15:00.000+01:00

Nationwide building society is launching a savings account which enables first-time buyers to apply for a mortgage with just a 5% deposit.

From Friday, those aspiring to buy their own home can open a Save to Buy regular savings account which pays interest of 2.5% gross on balances up to £20,000. After at least six months of saving a minimum of £50 a month, the saver is entitled to apply for one of the Nationwide's 95% loan-to-value (LTV) ratio mortgages: until now these have only been available to existing Nationwide mortgage customers who want to move home.

The Nationwide joins a very small band of lenders prepared to extend mortgages to those with a deposit of just 5% on a relatively straightforward basis. Most others require parents or other family members to act as guarantors on the loans, or to put their own money into savings accounts which can be set against the loans in case things go wrong.

Nationwide currently offers a 95% loan fixed for three years at 6.29% and one fixed for five years at 6.89%, although the rates on offer will almost certainly have changed by the time first-time buyers qualify to apply.

Those who go on to take out a Nationwide 95% LTV mortgage will also benefit from cash back ranging from £250 for those who save from £2,500 to £4,999, to £1,000 for those who save £10,000 or more. Save to Buy customers will also qualify for any Nationwide first-time buyer deals available at the time of application, such as the current offer of a £500 discount off the product fee.

First-time buyers are generally considered to be the driving force behind the housing market. Their buying of a property releases homeowners to buy bigger or more expensive property, and spurs a whole chain of shopping, from house paint to white goods, that helps support the economy.

But their numbers have dropped over the past few years, as buyers have been forced out of the market by high house prices, low or non-existent salary increases and an unwillingness on the part of lenders to provide them with high LTV mortgages.

The government has put pressure on lenders to increase the number of mortgages they are making available to first-time buyers, and launched a scheme to help such buyers in the Budget. The Firstbuy scheme is open to those with a household income of less than £60,000 a year who can put down a 5% deposit – but the catch is that the mortgage must be used to buy a new home.

Things to do in Bexhill

2011-04-17T21:34:00.000+01:00

Bexhill-on-Sea has a considerable number of things to see and do. These include historical, entertainment and sports attractions for all ages. We feature on this page information and photographs of the most popular attractions.

De-La-Warr PavilionThe De La Warr Pavilion reopned in October 2005 as a national centre for contemporary arts. It is one of the most significant spaces in the emerging network of new arts venues in the south east of England as well as a place for entertainment, education, refreshment and relaxation for the community of Bexhill and beyond.

Bexhill MuseumBexhill Museum re-opened in 2009 after a £2m+ refurbishment. New galleries cover Bexhill's motoring heritage plus costume and social history. Original features are retained in the Sargent Gallery. A lift ensures full wheelchair access. New facilities include toilets and cafe. The museum was started in 1914 by enthusiasts specialising in natural history, archaeology and ethnography and offers an incredible insight into town history, its famous residents and visitors and historic milestones that have made Bexhill internationally famous. It is an ideal place for adults and children to discover history and to journey through time. Located to the South side of Egerton Park facing Egerton Road.

Motoring Heritage CentreThe Motoring Heritage Centre is featured at the Sackville on De-La-Warr Parade. The centre features photos and historical information on the original 1902 to 1904 races, and highlights Bexhill's place in history as the birthplace of British motor racing. More photographs of Bexhill's motoring history can be found at the Cooden Beach Heritage Gallery.

Egerton ParkLocated just to the West of Bexhill town centre, Egerton park has many attractions on offer that appeal to young and old alike. If you need to get away from the hustle and bustle of life, the park can offer the peace, solace and relaxation required. Or, if you are feeling more adventurous, you can try out any of the attractions on offer. The boating lake, tennis courts, putting green and indoor bowling centre offer the perfect way to while away those hours. Children will love the adventure playground. Egerton park is surrounded in beauty with some lovely displays of bedding plants and that great feeling of freedom that only nature can bring.
Egerton Park Tennis. Tel. 01424 787912 (note that the tennis office is only open in the summer).

The Polegrove Recreation GroundThe Polegrove is situated to the West of Egerton Park in Brockley Road. It is the recreation ground used by many of Bexhill's sporting clubs including Bexhill Town football club and Bexhill's cricket and rugby teams.
The Polegrove also hosts the Bexhill Horse Show each year as well as other events including the Party in the Polegrove music festival. Next to the main field is the Polegrove Bowls Club.
Polegrove Bowls Club. Tel. 01424 220263.

Crazy Golf and Putting GreenBexhill's crazy golf course is situated on the seafront, to the West of the De-La-Warr Pavilion and Colonnade. The course consists of twelve entertaining holes. Alternatively, if you prefer your putting a little less 'crazy' there is a grass putting green alongside, on the Metropole Lawn where the old Hotel Metropole used to be.

Golf CoursesBexhill-on-Sea boasts two of the best golf courses in East Sussex. The Cooden Beach Golf Course was described as 'a good sporting course' by James Braid when it was first opened in 1912. The course is both fun and challenging for every class of player. Highwoods Golf Course is located slightly more inland. Established in 1924, it has matured over the years into one of the finest courses in the area.
Highwoods. Ellerslie Lane. Tel. 01424 212625.
Cooden Beach. Cooden Sea Road. Tel. 01424 842040.

Sailing, Sea Angling and Rowing ClubsBexhill Sailing Club is a friendly family sailing club with excellent facilities and is located on De-La Warr Parade. A full programme of racing and cruises begins in March and extends to mid November.
Bexhill Sea Angling club is situated at the East end of De-La Warr Parade, at the foot of Galley Hill, for anyone interested in giving sea angling a go.
Bexhill Rowing Club was first formed in June 1893, and are always welcoming new members. Training nights are Tuesday, Wednesday and Thursday.
Bexhill Sailing Club. Tel. 01424 212906
Bexhill Rowing Club. Tel. 01424 210153
Bexhill Sea Angling Club. Tel. 01424 734292

Bexhill Leisure Pool and Ten Pin BowlingBoth of these attractions are located at the Ravenside Retail Park, about one mile East of Bexhill town centre.
Ocean Bowling is a state of the art 24 lane ten pin bowling complex. Other facilities include a bar, pool tables and arcade games.
Bexhill Leisure Pool is the local swimming pool complex. It has a heated pool with flume, a wave machine and a 'beach' area.
Leisure Pool. Tel. 01424 731508
Ocean Bowling. Tel. 01424 730014

Bexhill Leisure CentreBexhill Leisure Centre is located on Bexhill Down. It has a 74 station gym, health suite, exercise studio, 3 squash courts, sports hall offering badminton, trampolining, gymnastics, football, karate and basketball. Other facilities include a creche, soft play and function room hire.
Contact Details
Down Road, Bexhill, East Sussex. TN39 4HS. Tel: 01424 731171

East Sussex Average House Prices

2011-04-17T21:15:00.000+01:00

East Sussex

Average house price
£252,941

Detached	£366,070
Semi-detached	£219,793
Terrace	£196,090
Flat	£149,913

Annual change in house price
+12.3%

Quarterly change
-2.2%

Total number of sales: 2,035

Comparison of local authorities in East Sussex

Select the type of property you would like to view figures for:

ALL PROPERTIES: Click headings to re-order table
AREA	AV PRICE	QUARTER	ANNUAL	SALES
Wealden	£312,938	-2.9%	17.6%	588
Lewes	£276,250	-4.0%	16.3%	374
Rother	£258,081	0.2%	11.2%	367
Eastbourne	£202,123	-3.9%	2.2%	390
Hastings	£170,464	7.4%	2.7%	316

House prices rise by 0.5%

2011-03-31T22:33:00.000+01:00

Nationwide says house prices rose by 0.5% in March, with the three-month index showing a 0.6% increase
House prices have risen slightly, but the overall market remains weak.

Bad news for first-time buyers: house prices rose by 0.5% in March, according to latest figures from the Nationwide building society.

The rise leaves average house prices in the UK just 0.1% higher than a year ago at £164,751. The three-month-on-three-month index, the preferred measure of house price inflation for economists because it smoothes out blips in performance, shows an increase of 0.6% to the end of March.
The first quarter figures have also been released, showing prices rising by at least 1% in eight out of 13 regions. Yorkshire and Humberside saw the strongest quarterly rise of 3.4%, while Northern Ireland's house prices were weakest with a 2.2% fall. Prices in London rebounded in the first quarter with a 2.3% increase.

But Robert Gardner, the Nationwide's chief economist, remained gloomy about prospects for the housing market: "The outlook remains uncertain, but all things considered this is unlikely to mark the beginning of a strong upturn in prices.

"The economy entered a soft patch at the back end of 2010, and there have been few signs of a strong bounce-back. The jobs market remains challenging and Nationwide's consumer confidence index suggests sentiment has fallen to an all-time low in recent months."
But this does not necessarily point to big falls in prices that would suit those struggling to buy their first home. Gardner continued: "While demand is likely to remain fairly soft, a rapid increase in the supply of properties also appears unlikely. Low interest rates and a stabilisation in labour market conditions have prevented a rise in forced selling, and the subdued market outlook is deterring many sellers.

"With the economic recovery expected to remain sluggish, the most likely outcome is that the property market will follow suit, with low transaction levels and prices moving sideways or modestly lower through 2011."

He pointed out that expected interest rate rises will exert a greater drag on household income now than it would have done before the recession, because the proportion of mortgages on variable interest rates has risen from 48% in 2008 to 62% now.
He added that for a house with a repayment mortgage the typical monthly payment is around £455, equivalent to 23% of individual take-home pay. A 1% rise in interest rates would see this rise to £494 - 25% of current take-home pay. But if the Bank of England rate rises to the average of 4.5% it was at in the five years before the crisis, typical payments will rise to £621 if fully passed on to borrowers. This would represent 29% of take-home pay should wages keep rising at the current rate of 2.3% a year.

Meanwhile, a report from the Bank of England showed that the number of households defaulting on mortgage loans rose in the first quarter of 2011, and are expected to rise further.

Nicholas Ayre, a director at buying agents Home Fusion, said: "Never has a monthly price rise been less representative of the state of the property market.
"Given demand, the recent trend of price rises the Nationwide has observed is likely to be short lived. In a climate of rising unemployment, rising living costs and – sooner rather than later – rising interest rates, the demand for property is understandably suffering.

"The only thing that seems to be falling, and sharply, is consumer confidence. Is now the time to commit to potentially the biggest financial outlay of your life? For many prospective buyers, the answer is no."

He continued: "At the higher end of the market there is still movement and sought-after properties are still commanding good prices. At the lower end, prices are under a lot more pressure.
"The Nationwide is right that the timing and management of interest rate rises will be pivotal. Too many rises too soon and the market is likely to come under extreme pressure."

First Buy Scheme for UK Housing Market

2011-03-31T22:18:00.000+01:00

In the budget, the chancellor announced a scheme to help first time buyers on the property ladder. Under the first buy scheme, the government and the housebuilders will jointly provide a 20 per cent loan to top up first-time buyers’ own deposit of 5 per cent. This will allow them to take out a mortgage for 75 per cent of the property

Loans will be free of charge for the first five years and repaid when the property is resold. The funds will then be recycled to fund more homes for the scheme.
Given current mortgage climate, it is a good idea. First time buyers are struggling to raise deposits given the level of house prices to income ratios.
The £250million First Buy scheme should help 10,000 families to get onto the housing ladder for the first time. However, it will only benefit a small % of first time buyers who would like to get on the property ladder.
Also it doesn’t deal with the fundamental issue in the UK housing market which is the relative shortage of housing given the growth in the number of households.
There is also the danger first time buyers could be lumbered with a double loan which ends up taking a large portion of their disposable income. Though interest is not payable for the first five years, if interest rates rise during that period, the mortgage could end up taking a high % of income.

WE ARE NOW OPEN IN BATTLE,EAST SUSSEX

2011-03-25T22:55:00.002Z

For months and months the empty premises, formerly a Threshers at the top end of Battle, has sat dormant and in desperate need for a new business to make the most of it’s spacious floor area and large window display. Cue The Property Cafe, a quirky estate agents, to breath a sigh of relief for those still concerned about the number of empty shops in the town. As you may have gathered from the name of the company, The Property Cafe have a difference; a factor they’re very proud of.

Opened over 5 years ago, The Property Cafe in Bexhill has grown in business each year and established itself as one of the most reputable estate agents in 1066 Country.
They go beyond traditional estate agents by offering clients: a professional service in a relaxed, modern environment with a delicious cup of tea or coffee. Their aim is to take the stiffness and impersonal approach out of the everyday dealings, which most clients experience when visiting an estate agents office, and replace it with an environment that is professional but comfortable for both vendors and viewers alike.

In fact ‘comfort’ is a central theme for The Property Cafe. Their relaxed approach to business is matched by the lounge-style interior of their offices. The cafe feel automatically gives an air of calmness and there are comfortable seating areas where you can sit down and survey all properties on offer by way of LCD screens and presenter folders without feeling intimidated by over zealous sales staff.
The new Battle branch will feature L-shaped sofas, coffee tables, a kitchen area, free wi-fi and even a Kid’s Zone for children to amuse themselves with toys and DVDs.

When asked the question: why Battle? Darran Cohen, Managing Director of The Property Cafe, said: “it is the perfect strategic move to develop business. The properties marketed will be in and around the Battle area”.
“Opening a new branch in Battle is the next step up for the company and a new challenge. The team in Bexhill have developed and built up skills, so opening a new branch will enable some staff to progress into a more managerial role”.
Additionally, the company will look to recruit new staff locally.
The opening of the new branch in Battle will also provide the company with potential to step into the commercial property market.

The Property Cafe support local charities through welcomed donations from the fresh coffee they provide, with money pledged towards Children in Need and local charity Bexhill Gateway. Donations from the Battle branch will, aptly, go towards a Battle charity.

THE PROPERTY CAFES' TOP TEN MOVING TIPS

2011-03-23T17:01:00.000Z

So, you’ve just found your dream home through the Property Cafe, what next? Chances are you’ve only a matter of weeks until you have to move your worldly belongings from A to B.

It’s a huge task and is justifiably known as one of the most stressful things you can do. But with careful planning your move doesn’t have to make you want to tear your hair out.

Tip 1 – Be organized

Create a ‘To Do’ list and keep any important information together in a file.

As soon as you know you are moving, start planning by writing down what you need to do and when. Obviously not everyone is that organised but for your own sanity try not to leave it more than 3 weeks before the big day.

Tip 2 – Choose the right removal company

There are different options here depending on your budget and the size of your move. For larger households, as a general rule, look for BAR (British Association of Removers) registered movers or recommendations from friends. Get at least three quotes and go with the one you feel is best suited to your move, rather than the cheapest? If you only have a small load and just want a man and van, ask around for recommendations to avoid the cowboys. Check on insurance and don’t be tempted to go without.

Tip 3 – Don’t leave packing to the last-minute

This is a trap that a lot of people fall into simply because they can’t face starting such a mammoth task. Breaking it down into achievable parts can make it a lot less daunting. Take each room separately and start with books and CDs (use small boxes for these), and other items you don’t use that often. Alternatively, get the movers to do it all for you – they can sweep the entire contents of a house into boxes in a matter of hours!

Tip 4 – Ikea bags are a mover’s best friend

Well, maybe not BEST friend, but they’re pretty good for any of the odds and sods that don’t really need to go in a box. Zipped laundry bags, also known as refugee bags, are good for moving linens, clothes, shoes and other non-breakables.

Tip 5 – Don’t forget to label your boxes

It sounds obvious but so many people forget. Put the labels on more than one side so you can see what’s what when they are piled high. If you’re really organized make an inventory of what is in each box, especially if some things are going into storage.

Tip 6 – Does your furniture fit out of your old house and into your new one?

Again, sounds obvious but it can catch you out. If you got it in then you should be able to get it out but flat pack furniture you built yourself is often the biggest cause of grief. Leave yourself time to disassemble and check with the movers if you need to get a window removed, they should know someone who can help.

Tip 7 – Create a room plan for your new home

Do a rough sketch idea of where furniture will be placed in each room. You can always move it again if you want to but it saves time umming and ahhing while the movers struggle under the load.

Tip 8 – Label your electricals

If you have a hundred wires going into one device use sticky coloured labels or number each part to match one end to the other.

Tip 9 – Essentials boxes

Pack the kettle, tea, coffee and milk last, unpack first. Know where your bedclothes and duvet are (see next tip). Keep remote controls, phones, mobile phone chargers and any other items you are likely to lose but need in the same ‘bits box’ so you know for sure where they are. Keep valuables and important papers with you.

Tip 10 – Make your bed as soon as possible

You’ll appreciate it at the end of the day when you don’t have to do that one more thing before

you can relax after a long hard day.

Membership Club

2011-03-18T19:57:00.000Z

THE PROPERTY CAFE, Bexhill's number 1 estate agent, are pleased to announce the launch of their new and exciting membership club. Whats that i hear you cry, an estate agent membership club, whats that all about? Simply it is a way of you saving money while you are buying or selling your property in Bexhill, Battle and surrounding areas. We have teamed up with local companies to offer discounts on a range of services including conveyancing, financial services, building contractors etc. You will be issued with a membership card that enables you to gain access to your own section on our website via a unique number given to you when you join.

HAVE YOU GOT YOUR WILL SORTED OUT YET? No problem as we are offering a free basic will to all members, and yes i did say FREE. In addition we are offering £50.00 off conveyancing costs and, wait for it, £100.00 cash back on your mortgage when it completes. All members will automatically be entered into a monthly prize draw.

O.k. I bet your wondering "how much is the annual membership cost on something that's going to save me £100's of pounds", well that's the best thing, its COMPLETELY FREE. I know a lot of you will say there's no such thing as a free lunch, well now there is. We simply get paid a referral commission from the company we recommend, which has no effect on the price you pay apart from the savings we make you.

If you are interested and would like further details please don't hesitate to contact me by email or visit our website where full details will be available from March 30th 2011. Alternatively i would love to see you in one of our branches where the manager will explain how you can start saving. Please visit our website for our office details.

Thank you for taking the time to read our first blog, a new one will be posted every Friday. We would really appreciate your comments and suggestions for future blogs. If theres a subject you would like our comments on please let us know.

See you soon

Welcome to Sussex - part 4 of 4

2011-03-18T11:16:00.000Z

Welcome to Sussex - part 3 of 4

2011-03-18T11:15:00.001Z

Welcome to Sussex - part 2 of 4

2011-03-18T11:15:00.000Z

Welcome to Sussex - part 1 of 4

2011-03-18T11:14:00.000Z

NEW TO THE BLOGS

2011-03-17T23:41:00.001Z

Hi everyone and welcome to The Property Cafe blog site.

Our first blog will appear tomorrow and every friday from then on.

If you have any interesting views you would like to discuss regarding the up and down world of the housing market please get in touch.

See you soon