Property news update – 4/05/2012

Garage for sale
A garage located in Knightsbridge is on the market with W A Ellis for £525,000. The freehold double garage, near Harrods on Rysbrack Street, is 6.4m wide and 4.75m deep. Robert Lewis, Associate at W A Ellis, said: “It is very rare to get a freehold garage in Knightsbridge, so it is exceptionally valuable.”

Top 10 reasons for buying retirement property
Pegasus has found that the average age of their buyers has increased and that they have often downsized once before to a bungalow or apartment before moving into a retirement property. And the top 10 reasons given for buying a retirement property are:
Easy to run
Want to move now to avoid going into care
Closer to family
Lower bills
Like the area
Lonely in current home
Don’t want noisy neighbours
Security
Better lifestyle
Releasing equity

What students want
Wi-fi, en-suite facilities and communal areas are the most important features for higher education students when choosing accommodation, according to a recent survey by Unite, developers and managers of purpose-built UK student accommodation.
Unsurprisingly, the survey also reveals that location, security, price and cleanliness are important factors. Unite say that while UK universities are working to provide new-build and refurbished student accommodation there is a continuing need for more to be built in order to cope with demand.

Property portals under scrutiny by NAEA members
National Association of Estate Agents members from the Surrey area met last week to discuss the rising cost of listing their properties on major portals. Chairman James Wyatt said: “This meeting was held at the members request as double digit price inflation from the portals is not sustainable in the long term. NAEA members are looking at the alternatives”. Hot topic of the day was the merger between Zoopla and DPG. “We are watching closely” said Wyatt, “the merger is meant to be a big win for consumers and advertisers but we see this as an opportunity for DPG to increase their prices to Rightmove’s levels and for those two portals to effectively create a duopoly. Historically, duopolies tend to lead to market manipulation and price fixing.”
Useful web sites for more information

• Independent Property Search Engine
• Independent House & Home section

Recent Posts on Property

• Where do most millionaires live in the UK?
• Wandsworth tops aspiring young professionals hotspot list
• Record home price rises (and not just in London)
• It's National Work From Home Day today
• Where have property prices been reduced most in the UK?