Tuesday 14 September 2010

OPEN HOUSE VIEWING FOR AUCTION PROPERTY

An open house viewing of a newly built end-of-terrace two-bedroom house at Horfield is being held on Saturday (September 18) from 12.00 noon-12.45pm.

The house, which is nearing completion and comes with a NHBC guarantee, is to be sold with a guide price of £160,000-£180,000 at Besley Hill’s auction at Kendleshire Golf Club, Coalpit Heath, next Monday (September 20), starting at 7.00pm.

Located on Downend Road, close to the motorway network and major employers at Filton and Abbey Wood, the property offers light, spacious accommodation including lounge with feature bay window, kitchen/breakfast room with vaulted ceiling, two double bedrooms and white suite family bathroom with bath and power shower over.

The kitchen has modern matching wall and base units, quality cupboards with soft closing drawers, built-in hob, oven and extractor hood, fridge/freezer and washing machine.

Other benefits of this home, which is being sold with no chain, are double glazed sash windows, gas central heating, high ceilings, downstairs cloakroom and door to an enclosed rear garden with side access, patio and level lawn.

Also entered by Besley Hill Estate Agents at Bishopston for Monday’s auction, with a guide price of £425,000-£475,000, is an impressive five-storey Grade II listed building on Ashley Road, on the borders of Montpelier and St Pauls.

The property, which requires a substantial programme of refurbishment and renovation, has full planning consent for conversion into eight flats and two coach houses with courtyard parking and front communal garden.

For further details of 105a Downend Road, Horfield, or 87 Ashley Road, Montpelier, contact Besley Hill Estate Agents, 66 Gloucester Road, Bishopston, Bristol BS7 8BH, tel 0117 924 4008, email bishopston@besleyhill.co.uk

To obtain a brochure or information about the other eight lots, call the auctioneer’s office on 0117 970 1551 or access the brochure online at www.besleyhillsurveyit.co.uk

Tuesday 7 September 2010

Market Stabilising says Top Mortgage Provider


There’s a lot of talk at present about what’s going to happen to the mortgage and property markets in the next six months.

The reality right now is that both markets have stabilised. In recent months, lending volumes and house prices have been up marginally one month, down marginally the other (depending on the index or source), but overall the trend is very much one of sideways movement.

People are sitting on their hands, waiting for more visibility around the economy before they commit.

The Bank’s July mortgage figures, out on the last day of August, offered further evidence of this stabilisation. The number of loan approvals for house purchase in July (48,722) was at a similar level to June (48,562) and, in our opinion, they will remain at or around this level for the rest of the year.

There are downward pressures on the property and mortgage markets, specifically consumer caution and stringent lending criteria, and there are upward pressures, not least the level of Bank rate, attractive property prices in certain areas and some extremely competitive mortgage products at lower LTVs.

The two forces are cancelling each other out. The result is stabilisation.

In our opinion, the market has self-corrected very well and has learnt its lesson.

Source EAT 06.09.10 – excerpts from Brian Murphy recent interview. Brian is head of lending at the Mortgage Advice Bureau, a provider of mortgage and financial services to Besley Hill Estate Agents