A three-bedroom house in Gosport went under the auctioneer’s hammer for £126,000 last Thursday.
The freehold mid-terrace at 7 Freemantle Road was among 17 lots being sold by regional land and property auctioneers Clive Emson.
Rob Marchant, auctioneer, said: ‘The successful bidder voted with their wallet on general election day. The house requires a programme of improvements, with the selling price reflecting that.’
Also sold was a three-bedroom house at 65 St Michael’s Grove, Fareham. The freehold property, chalked for ‘improvement’, went for £141,000.
• UK landlords expect annual rent growth to slow to 1.7% by next year, down from 3.7% currently
• Finding trustworthy tenants deemed more important to landlords than higher rental yields
• Nearly a quarter (24%) of landlords want to purchase additional rental properties this year
• Three in five landlords (60%) think it is a good time to invest in buy-to-let, up from 54% six months ago
• More than a fifth of landlords (22%) find their buy-to-let mortgage payments cheaper than a year ago
After a recent spurt of rent growth, landlords anticipate that rent rises will taper off over the next
According to a latest report detailed in Money.co.uk first-time buyers need to earn almost £41,000 to afford a home in the UK, while those in London would need to be on £77,000.
Homes are unaffordable for first-time buyers in every single one of the UK’s regions, the study by KPMG shows.
Its economists mapped the average house price for first-time buyers in each of the regions and worked out the required average salary in that area to secure a mortgage with a 10 per cent deposit. In every one the current median average annual wage for potential homeowners fell short of that figure.
Hope you all had a good weekend! We've 3 new property auction hot picks for you this sunny morning.
This first one is a rather nice 4 bed duplex apartment in Essex, within a stunning large building that has been divided into 4 apartments.
Images of both inside and out give you an idea of the scale of this one. Also it’s got the benefit of communal gardens and a private garage. Large windows seem to be letting loads of light in, and we love the stone fireplace that’s a rather nice feature in the living room, and the enclosed balcony accessed from second bedroom is a rather nice little perk
Auction House’s latest blog advises how reforms to pensions should boost auction sales....
We have entered a new, much more flexible pension’s environment thanks to the changes introduced by the coalition government. It means that savers over the age of 55 now have the option of taking some lump sums from their pension pot with a proportion of it being tax free. The pension reforms will be most beneficial to those who have built up a large pension pot and would like to take greater control of that investment; all will benefit with the tax free element being 25% of their pension pot.
Peter Andre's mansion is up for sale for £1,695,000. Sure, it's expensive, but the lucky buyer will be getting plenty for their money.
Television presenter and singer Peter Andre has lived in the six bedroom property since it was built in 2010, but has decided it's time to move on. There's a good chance that the move has something to do with the singer and TV presenter's growing family.
There's plenty of entertainment space, from the various reception rooms, to the cutting-edge kitchen, and the huge terrace which you can step out onto from most of the ground floor rooms.
Sales of homes worth more than £1 million have plunged by nearly a fifth year-on-year, Land Registry figures show.
Across England and Wales, 851 homes were sold for over £1 million in January, a 19% fall compared with January last year, when 1,049 properties in this bracket were snapped up.
The bulk of transactions involving homes worth more than £1 million were in London, which saw a sharp 23% decline in sales in this bracket compared with a year earlier.
The Land Registry's figures show that house prices in Kensington and Chelsea, where the average property is worth £1.29 million, have shown
I took an instant liking to this property in Leicestershire. It’s for modernisation so will need work done to reach its full potential, but wow, the grounds look amazing and it would be a fantastic home to live in when you have the pleasure of such attractive views over the gardens from within the house.
While it’s currently only two bedrooms, there’s so much garden that you could easily extend this property to create a much larger family home (stc of course), without impacting too much on the feeling of wide open space outside. In fact this one’s grounds are so large that it would even be
Despite reports of the property market slowing down in the run up to the general election, Romans’ second public auction of the year was a great success.
Competitive bidding between investors and owner occupiers resulted in 80% of the lots selling on the day and all of them selling at, or above, their guide prices.
“The prospect of a general election certainly didn’t inhibit enthusiasm for properties with investment potential; it was a case of simply not having enough stock to supply the demand, which is obviously very good news for sellers” comments Simon Clayton, Director and Auctioneer.
Ok, it’s not cheap with a guide price that’s just shy of £3M, but you’re getting a really big London property for your money.
Again, this one’s for modernisation, but it’s had pre-application submitted for turning it into 3 town houses, with a new build house in the garden. Definitely one for the builders and developers despite any changes still being STC at this stage, but there’s certainly both potential and profit to be found in this one. The icing on the cake comes from how attractive an exterior this large property has. Well worth a look...