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Monday, March 14, 2011

Buying property via Tesco

Buying property via Tesco

It's a typical friday afternoon after work. Quickly running into Tesco to buy bread and milk. Oh, and to sign legal documentation for my new property purchase.. huh??

That's right.. it seems high street brands including Tesco, Co op and others will soon be joining the legal services market.. something that is branded "Tesco Law" as pointed out here.

The sheer power of supermarkets which is very much linked with their customer profiling technology (example: Tesco Club Card) and customer base presents the opportunity to profit more from most house holds in area industries/services/markets. Even more so, these brands are known and trusted by consumers which gives companies like supermarkets a competitive advantage over high street solicitors.

It seems that these companies prosper in times of recession, and even more so in times of boom. The companies' foundations lie on food.. and everyone has to eat! Even in recessions, households will spend less on luxury goods/services, but will continue to spend their money on food. In times like we are in now; food, petrol and clothing prices keeps rising and even so, consumer numbers are profits are increasing. Is this the perfect business model?

The question we need to ask ourselves is this.. whilst we may or may not trust these brands, do we believe they provide the same quality of service that a high street solicitor firm may provide who only specialise in conveyancing ..

posted by Ben Jooste at 10:25 pm 0 comments



Saturday, April 19, 2008

Halifax data shows regional variation

Halifax data shows regional variation.

House prices declined by 2.5% last month from February, the Halifax reported earlier this week. (see Peter's featured article below on current house price hysteria) The country's largest mortgage lender said the yearly rate of house price inflation had fallen to 1.1%, from 4.2% in February.

Gordon Brown responded to growing media reports of a slump in the housing market by proposing that ministers meet the Council of Mortgage Lenders in the next few days to ensure banks phase in higher rates and give mortgage payers clear warning of them. Ministers are concerned that as many as 4 million mortgage payers are facing a big rise in interest payments over the next year.

The other main housing index, from the Nationwide, showed prices fell 0.6% in March, the fifth monthly decline in a row. Nationwide, which released its data at the end of March, also put the annual rate of change at 1.1%. On the back of its latest numbers, the Halifax cut its house price forecast to a small decline this year.

Halifax said prices fell 1% in the first quarter of this year, compared with the last quarter of 2007, and there had been a mixed regional picture in the first three months of the year. The biggest rises were in Greater London, where prices rose 1.6%, although that contradicted other surveys which have suggested asking prices are holding up but agents are reporting an absence of demand, particularly from first-time buyers.

Halifax also said prices rose 1.4% in East Anglia and 2.2% in the East Midlands in the first quarter, while they fell 5% in the West Midlands and 4.7% in Wales.

The Halifax's chief economist, Martin Ellis, said that the average house price had risen by £121,000 over the past decade to £191,000, an increase of 171%. "A strong labour market, low interest rates and a shortage of new houses underpin housing valuations. Our research shows that the labour market is the key driver of the housing market. Employment is at a record high and unemployment continues to fall."

Labels: house prices uk halifax england

posted by Ben Jooste at 7:49 pm 0 comments



Saturday, July 07, 2007

UK House Price Inflation slowing

The mortgage lender, the Halifax, said that UK house prices rose by 0,4% in June 2007.

The Guardian reported the chief economist of the Halifax as saying that June 2007 was the second successive monthly rise of less than 0,5% and expects the slowdown to continue. He said, nonetheless that solid economic fundamentals and a shortage of housing supply will continue to support house prices.

The Halifax reported a 10,7% increase in the cost of a new home over the past year, taking the average house price in the UK to more than £197 000. Figures from the Department for Communities and Local Government puts the average price of a home in London at £320 000.

Meanwhile, the Bank of England has increased interest rates in July to 5,75% in an attempt to bring inflation under control.

Contents with thanks to lawfirm, Breytenbachs.

Labels: house prices uk, invesestments, property market

posted by Ben Jooste at 6:27 pm 0 comments



Wednesday, April 25, 2007

Houses rise by £8000 a month

House Prices Rise by £8000 a month

House prices rose by a record £8000 last month, figures show.

The 3.6% per rise is the largest monthly rate of increase in 5 years. Annual house price inflation rose from 12.2% in March to 15% this month, estate agent Rightmove's House Price Index showed.

It pushed the average asking price of a home in England and Wales up to £236490 - a leap of nearly £31000 from the same time last year.

The bullish figures contrast with speculation that the housing market is cooling in advance of another interest rate rise, expected next month. Council of mortgage lenders figures showed in february the number of first time buyers entering the property market hit its lowest level for nearly 2 years...

However, property experts say the Rightmove figures were caused by the traditional 'Easter bounce', a continued shortage of supply and high demand from buyers.

Article: Metro on the 16th of April

Labels: house prices uk property market rightmove

posted by Ben Jooste at 6:20 pm 0 comments



Friday, April 13, 2007

UK should grow 2.9% this year, says IMF

UK should grow 2.9% this year, says IMF

BRITAIN'S economy should continue to show robust growth this year, helped in part by rising house prices, the International Monetary Fund said yesterday.
But it warned the Chancellor, Gordon Brown, that he will need to keep a tight grip on public spending to keep debt under control, and that further interest rate rises may be needed if wage pressures emerge.

According to the IMF's twice yearly World Economic Outlook, the UK economy should grow by 2.9 per cent in 2007 and 2.7 per cent next year. It said these estimates might prove too timid, but that a downturn in British export markets may also create economic headwinds.
As a result of this buoyant climate, the IMF felt further rate hikes might be possible from the Bank of England, after it left rates unchanged at 5.25 per cent last week. It also warned that the government must take care not to allow public finances to deteriorate. "Tight spending control will be needed to halt the rise in public debt," the IMF said.

Labels: economy, growth

posted by Ben Jooste at 11:56 pm 0 comments



Sunday, March 18, 2007

House prices up by 10.9%

House price inflation picked up speed in January with the annual rate of increase recorded at 10.9 per cent, official figures showed today.

An increase of 2.1 per cent in the cost of property purchased in the month pushed the average price of a UK house up to £205,286.

Government statistics also revealed that for the three months to January, annual house price inflation was set at 9.9 per cent for the UK and 11.6 per cent for London.

All four home countries registered an increase in house price inflation in January, figures showed. Northern Ireland continued to see the quickest pace, with year-on-year increases recorded at 42.5 per cent in the month. The highest inflation rate in England was recorded in London.

Annual change in the capital rose to 13.2 per cent in January, up from 11.8 per cent in December. The typical cost of a home in London is now £305,248, compared to an English average of £212,845. Northern Ireland saw the value of homes almost hit the £200,000 mark in January following recent high inflation. Average prices in Wales and Scotland were recorded at £162,610 and £150,509 respectively, figures showed.

First-time buyers across the UK continue to be hit by rising property prices, the latest research found. Annual price inflation rate for maiden buyers rose from 9.4 per cent in December to 10.6 per cent. The value of homes being bought by first-time buyers increased by 1.9 per cent in January, putting the typical cost up to £158,097

Labels: annual house prices, House Prices, inflation, investors, property market, UK

posted by Ben Jooste at 10:28 pm 0 comments



Thursday, March 01, 2007

Home Buyer Exhibition London

The Homebuyer Show is the UK's largest and longest running dedicated property event and opens at ExCeL London for its 16th year on March 2nd, 3rd and 4th.

This year the exhibition will incorporate its highly successful 'sister' event 'The Property Investor Show', thus presenting the largest display of UK and International property of any show staged in the UK during 2007.
The show is the property event for serious buyers. So if you are considering buying property for residential or investment purposes - in the UK or abroad - The Homebuyer Show will answer all of your questions.
The show will feature property and property-related services from over 250 exhibitors including major house builders, developers, estate agents, lenders, brokers, investment training companies, landlord associations and other leading property experts...and, as always, its unrivalled programme of 100+ highly informative seminars will cover all aspects of buying, letting, financing and managing your property.

Labels: exhibitions, investors

posted by Ben Jooste at 11:28 pm 0 comments



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  • Buying property via Tesco
  • Halifax data shows regional variation
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  • Houses rise by £8000 a month
  • UK should grow 2.9% this year, says IMF
  • House prices up by 10.9%
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  • House prices to rise by £1,000 per month in 2007

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