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Guaranteed Rent Income | ‘Balanced’ housing market will emerge in 2013 as “froth” taken out of central London

Guaranteed Rent Income | ‘Balanced’ housing market will emerge in 2013 as “froth” taken out of central London

We will regularly inspect your property, to ensure it is well-maintained and that everything is as it should be, ready for when you do get a tenant again. We will also continue to advertise your property, to show it to prospective tenants and to keep you informed every step of the way. And you can relax knowing that all the while this property is empty, you are still guaranteed rent payments and are still receiving a monthly guaranteed rental income.

Guaranteed Rent Income

Guaranteed Rent Income

An improved and more balanced housing
market will emerge in 2013 with less of a London skew, despite sellers slashing their asking prices this
month in the biggest fall seen for more than a decade, property search website
Rightmove said today.

Increased competition among mortgage lenders and a continued shortage of homes to choose from will help to push asking prices up by 2% across England and Wales next year, Rightmove said.Guaranteed Rent Income

However, its latest monthly house price study also showed that sellers dropped their prices by 3.3% or £7,772 month-on-month, to reach £228,989 on average in December.

While this is the biggest monthly drop its study going back to September 2002 has ever recorded, Rightmove said that big asking price falls are expected at this time of year as people selling over Christmas often have a pressing reason to do so. Prices are still 1.4% higher than they were a year ago, despite the recent big dip.

The East Midlands was the only region across England and Wales to see a month-on-month price increase in December, with a 0.8% rise taking typical prices to £158,480. The South West saw the biggest monthly fall, with prices nose-diving by 5.3% to reach £240,438 on average.

Rightmove forecasts that next year, house price growth will become less skewed towards London, with stronger market conditions in southern regions emerging.

Some of the “froth” will be taken out of the prime central London market, but asking prices will still grow across the English capital by around 3% over 2013, Rightmove said.

Miles Shipside, director of Rightmove, said: “Average national house prices in 2013 will be less affected by the often distorting impact of London.

“However, this will be compensated for by a stronger market in other parts of the South and a continuation of the signs of life seen in some parts of the North at the back end of this year.Guaranteed Rent Income

The London market has been boosted by wealthy overseas buyers seeking a safe haven for their cash amid the troubles of the eurozone, helping prices to increase by around 7% compared with a year ago.

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But some analysts have said that a 7% stamp duty rate put on homes worth over £2 million in the spring will help to put a brake on London prices.

Meanwhile, the “ripple effect” of higher prices in London will mean stronger growth in surrounding areas as buyers cast their nets outside the capital, Rightmove said. The South East in particular was said to have “underperformed” in recent years.

The South East, South West and East Anglia will also see asking prices grow by 3%, meaning the cooling off in London will be balanced out by a stronger South, the study predicts.

Meanwhile, seller asking prices in the Midlands, the North of England and Wales are pencilled in for a 1% climb.

Property analysts Hometrack recently found evidence that the North-South divide in the housing market has narrowed in recent months. It said that a slowdown in demand from would-be buyers has been less pronounced in the North and the gap between asking and selling prices has also been shrinking there.

Rightmove’s predictions echo some of those by the Council of Mortgage Lenders (CML), which said the housing market should “feel more stable and positive” next year.

But they jar with those by Halifax, which has said house prices are likely to be flat in 2013, with any growth likely to be strongest in London and the South East.

View the original article here

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