I’m delighted to introduce you to Property Bytes, which you will receive every 2 months. Let me begin by trying to answer the question I’m always asked at the moment – what is going to happen to the property market in 2009? I predict that the 1st half of next year will remain similar to 2008, we all know that property activity is very dependent on the mortgage market.

However, there is a tremendous amount of pent-up demand and I think there are a lot of people who are now starting to question how close we are to the bottom. Contrary to national statistics, in our region prices have definitely reduced by 25% and in some cases by as much as 30%, and where properties have reached this level sales are being achieved.

I hope you find Property Bytes informative, and if you have any questions you would like to put to the experts who have contributed, please contact them on their email addresses or telephone numbers provided.

Feature Story: flower: The Future of the Mortgage Market in 2009

The banks and mortgage lenders are definitely making it more difficult to qualify for a mortgage and this is likely to continue through 2009. Buyers risk not qualifying for a mortgage at all, or being tied into expensive deals if they make the wrong mortgage decision so choosing the right adviser who understands the market is vital if this is to be avoided.

Thank you to everyone who attended the seminar by Anna Cross, head of planning and strategy at HBOS mortgages, that was held at our head office.

Auctions - Auction dates for 2009 now available

The national average success rate for residential auctions is currently running at 59%. Romans are currently running at 70% and our last sale produced 84% sold. Correctly priced property is proving irresistible to many investors, sparking competitive bidding.

Building Control - Energy Performance Certificates - you need one

Head Projects Building Control continues to make an impact in the Approved Inspector market as recognition of our expertise in Building Control, Fire Safety, Energy Performance and Access Issues. As approved assessors we are currently instructed to undertake over 500 EPCs.

New Homes

November has seen a marked improvement in activity across all New Homes sites that we are marketing with visitor levels up 40% on the previous 2 months. This in turn has resulted in an increased level of offers. Developers have been proactive in creating new initiatives to attract buyers and this has most certainly been a contributing factor where sales have increased. In particular, 75/25 schemes have proved very effective.

Romans Surveyors & Valuers

We have recently been instructed by Punch Taverns to inspect 850 of their premises across the UK and Scotland and to produce a maintenance programme that they can use to manage their pubs over the next five years. In addition to the inspections, we developed a unique piece of software to collate the information.

Residential Property Market

It is becoming apparent that, as prices become increasingly attractive, many purchasers see this as an outstanding buying/investment opportunity. We have agreed sales on over 100 properties in the past 4 weeks alone; achieving on average 92% of the asking price.

Head Projects

As experts in social healthcare design and procurement, while knowing the need for care homes in the UK continues to increase, we have seen a slow down in availability of funding for care operators and hence decision-making in taking schemes forward.

Lennon Planning

Lennon Planning have recently been appointed as part of a team by Bedfordshire Primary Care Trust to advise on its estate strategy for the provision of primary care and community based services in Bedfordshire. The work will include the preparation of development control plans for three hospital sites in the County.

HP architects

HP architects held a seminar on the Code for Sustainable Homes Legislation in October. The presentation is available on our website www.hp-architects.com and also in CD format. Thank you to everyone who attended the presentation.

If you have any projects requiring Code for Sustainable Homes Assessments please contact Sean Kelly at Sean.kelly@hp-architects.com.

Lettings

November was our best month of the year for new lets, however landlords need to ensure their property is well presented with quality fittings and correctly priced to avoid void periods. There are many properties for tenants to chose from at the present time as many sellers, frustrated at the slow sales market look to let their property in the short term. For private clients or companies who have a multiple portfolio we can provide a bespoke service.

Innovation

We are continually innovating in order to add value for our clients. Just launched is the beta version of our new residential sales and lettings website. The clean look and feel supports an enhanced search function, interactive mapping features and informative services such as mortgage and survey calculators. In addition, members of ‘My Romans’ will benefit from further interactivity including being the first to know of the latest properties on the market and the facility to save favourite properties and then compare their features.

Visit romans.co.uk and follow the link to see our new website.