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Council starts work on new housing development

Monday, July 18th, 2011

Merton Council has overseen the start of an important green housing development involving the erection of timber frames homes in Mitcham, South West London. When finished, the development will transform the former school site into a landscaped park for the public along with over two-hundred new homes.

The site will be a big step in the regeneration of the area bringing 131 family homes and 86 flats which can all be protected with household insurance. Each finished home will comfortably meet the high quality design specifications and will have solar panels on the roofs to help occupants reduce utility bills. The people who move into the properties will have a new community and medical centre within walking distance and residents will also benefit from state of the art insulation methods that will keep the homes warm in winter and cool in the summer.

Merton Council’s Andrew Judge said: “We challenged Crest Nicholson Homes to come up with an exemplary housing development with a construction cost of just £60,000 per house. These efficiencies have enabled investment in renewable energy, high spec design and the provision of the new park. Our new housing development will retain a locally listed building and provide new green space and wildlife habitat. This scheme will demonstrate that affordability goes hand-in-hand with quality and excellent contemporary design. I am sure this site will serve as an example of financially and environmentally sustainable construction which other local authorities and the construction industry will want to emulate.”

The wider community will also benefit from the green development as they will be able to use the new medical centre as well as the park. Like every other council throughout the United Kingdom, Merton Council has to face the challenge of a future with less funding but higher ecological demands, this green development promises to be the first of many that is built in the borough.

Tags: Crest Nicholson Homes, household insurance, housing development, new homes
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London bucking the national trend

Thursday, July 14th, 2011

Homeowners looking to take out new home insurance on a property in London may find themselves in a gazumping war while in the rest of the country prospective purchasers can almost name their own price.

Bad news for most of the country

The contrast in the London property market compared to the rest of the country is at its widest for at least ten years and probably more. At a time when the latest Royal Institute of Chartered Accountants survey predicts that the average price of a property is dropping and will continue to drop for the foreseeable future, and accountants Price Waterhouse Cooper suggest that house prices will not get back to their 2007 level until 2020, house prices in South West London are rocketing ahead.

Foreign influence a factor

A report by Housing Experts Savills reveals that in the last 12 months the average price of a house in South West London has risen by almost 9%. The contrast is amazing and can in part be attributed to foreign investors putting their money into sound property investment to get away from the financial catastrophes happening over the sea in the Euro zone. It is indeed a strange phenomenon because in the past, residents in the Capital who have always been accustomed to high prices and big profits in the housing market have looked to invest their bonuses and spare capital on bargains in the countryside. This is not yet happening.

Double value for London property owners

One reason could be the opportunities in London are too good to miss. Tenant demand is high everywhere in the country but once again London is at the top of the table for rental achievements. It seems as though property investors are getting cheap home insurance on their properties and charging huge rents while at the same time seeing the value of their investments soar.

Bargain prices will eventually kick in

Some estate agents are predicting that areas around London will eventually start to pick up as Londoners see retirement packages beckoning. According to the Savills report, homes in the outer reaches of the commuter belt are now half a million pounds cheaper than equivalent homes inside the M25 and it is only a matter of time before the outstanding value attracts buyers back into the market.

Tags: cheap home insurance, London property market, Property owners, Savills, tenant demand
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Accountants crystal ball not promising a rosy future for homeowners

Tuesday, July 12th, 2011

New research by highly respected accountancy experts Pricewaterhouse Coopers (PwC) suggests that prospective purchasers of new home insurance should be prepared to wait a long time before the property they buy, appreciates in value.

Cloudy Weather?

According to a long range forecast by the economists at PwC they expect the housing market to stagnate over the next decade and only in 2020 will homeowners see the value of their property be equivalent to its 2007 price. For the aforementioned first time buyers, they will probably see their home drop in value over the first three years and only then start to slowly gain value. Of course long range forecasts are not always accurate!

Industry pointers concur

PwC though are fairly sure they will be right. Certainly their forecast about the next few years will find agreement with many in the industry. The Council of Mortgage Lenders (CML) are still releasing figures that show lending to be at a depressingly low level, the Royal Institute of Chartered Surveyors (RICS) report lacklustre action on house purchases and in fact reckon that prices have still some way to fall because there are so few buyers around.

Hard decisions to be made

Although the housing market has proved notoriously fickle over the years the current situation does leave first time buyers especially, with a conundrum.

Do they throw themselves wholeheartedly into saving for a deposit on a home that once they buy will actually drop in value? At the moment deposit requirements by lenders mean any conventional couple saving for their first home together will have to make many sacrifices to raise the cash for that important down payment. They must ask themselves the question is it worth it?

Alternatively they can take out buildings and contents insurance on a rented property that will leave them with money in their pockets to spend on furnishings, décor and nights out. Of course the frustration with this course of action is that tenants can very rarely set up home exactly as they choose. Most landlords will have some restrictions on just how the property is decorated, used and who exactly lives in it.

How many will own a home in 2020?

The PwC forecast did not put a figure on the percentage of the population who would own their own home in 2020. Perhaps they did not want to push their luck too far when it comes to predicting the future.

Tags: buildings and contents insurance, deposits, housing market, Pricewaterhouse Coopers
Posted in Contents Insurance, Home Insurance | No Comments »

Homeowners look for bargains as inflation continues to rise

Thursday, July 7th, 2011

The dismal news for homeowners continued apace this week as the latest figures from the British Retail Consortium showed that food prices are still racing ahead as the headline rate of inflation hit its highest level for 30 months.

Largest increase for years

The monthly increase is the largest since 2008 and it seems as though anything that can adversely affect the price of food is happening right here and right now. The four horsemen of a modern day apocalypse seem to have been given full rein. Droughts in Russia and China have affected the grain harvests so much that China is becoming a net importer. In Australia cyclones and storms have destroyed crops, the horn of Africa is suffering yet again from drought and the worldwide increase in fuel prices is just metaphorically pouring oil on a burning fire.

Buy one get one free tops the shopping list

Back in the UK the BRC have noted that consumers are managing to keep spending under control by looking for bargains. Household costs such as home insurance and utility bills are being sourced from price comparison websites, while supermarket shopping by the savvy consumer means promotional offers are targeted for the bulk of the weekly shopping list. The BRC reckon about 40% of food purchases are now made from products on “offer”.

Down to the bare bones

Even basics such as milk, bread and sugar have risen sharply in price leaving the most vulnerable members of society with few cheap options for their shopping basket. It is at times like these that homeowners begin to cut down on products that they deemed as normal living costs but can no longer afford. Trips to the cinema, dining out and holiday bookings have all been put to one side by many families and some are still looking for other expenses they can cut away from their domestic budget.

Cancelling insurance can be a costly saving

There is no mistaking that household insurance providers are worried that households will begin to question if they can afford their current policies and will look elsewhere to see if they can procure a bargain, some are even considering not renewing their policies at all. It is a massive risk for any household to be uninsured and the news this week that many house fires have been caused by faulty fridges illustrates the point well.

Tags: Home Insurance, household insurance, Inflation
Posted in Home Insurance, Inflation | No Comments »

Cool that bedroom down

Tuesday, July 5th, 2011

The advent of summer is now well and truly underway. Wimbledon has passed but long hot summer nights are still something to enjoy or endure for the next couple of months.

It would be wonderful to bring the sunlight and breeze into your bedroom not only through open windows but by the use of colour. In general colours should be switched from dark to light. Sheets, bed covers and spreads should be changed to light coloured ones so that they reflect sunlight. Use of sheer curtains will soften the direct sunlight and heat and insulate the room White, light blue or light yellow walls will be refreshing, but as long as you use a light shade any colours should make the room look bright and ready for summer. Bed frames, chairs and other furniture can be repainted similarly. If you need some accent then deep yellow, orange, blue and red can be used for cushions and skirting boards. It is the type of home upgrade that can be completed without the help of a professional, if you are careful and covered by a good home insurance policy.

Get rid of the heavyweights

Materials should also be switched from heavy to light. Anything woolly, velvety or fluffy should be replaced with light and thin materials. Cotton is the ideal summer material as it soaks sweat and gives you a cool feeling. Nylon is light and water resistant and is a cheaper alternative. Linen has an exceptional coolness and freshness but is costly.

No need to lose sleep

The interior design should be kept simple with minimum furniture and decoration to create an airy, relaxed feel. Images of flowers, plants; sea, blue skies, birds and boats/yachts would be good for decoration themes. Rattan effect bed frames, chests and chairs would look pleasant and summery. You can use accessories such as baskets, glass bottles and fresh flowers, and hang pictures of your past summer holidays on the walls. There is no need to splash out on expensive items so you shouldn’t lose sleep over high home insurance costs. To ensure a good nights’ sleep on hot, humid summer nights no matter what may be worrying you, sprinkle citrus, tangy summer scents around the bed and it will be soon settle you down.

Tags: bedrooms, Home Insurance, interior decor, summer
Posted in DIY, Home Insurance | No Comments »

High street shops disappearing en masse

Thursday, June 30th, 2011

The drastic effect austerity measures are beginning to have on homeowners across the UK has been aptly demonstrated this week by the collapse of several High Street chains. Households all over the country are now looking more closely at their spending power and looking for bargains such as two for one offers in the supermarket, buy one get one free offers in markets and cheap home insurance when it comes to home security.

A catalogue of big names

The shops that have gone into administration this week include Jane Norman, a fashion outlet at the higher end of the price scale, TJ Hughes a High Street Department Store chain, Moben the high end kitchen retailer and iconic store Habitat, who announced that 30 of their 33 shops would be placed in administration with only the London stores surviving. Two other major names in the retail trade, Carpetright and chocolate manufacturers Thorntons have announced that many of their stores will be closed in a bid to see out the downturn.

Middle England suffering

It is no coincidence that many of the retailers in trouble feature at the high end of the market. For many years economists have said people always look to cut out luxuries first when they find their budgets are being stretched, the truth in this observation is hitting home with a vengeance at the moment. Of course this is qualified by the fact that it is Middle England that is feeling the pinch and not the super rich. Merchants selling goods at the very top end of the market will probably escape the clutches of a recession as their customers are well protected from all but the very worst of bad times.

Nervous times for all as the cuts hit home

It is 15 months since the Coalition came to power with promises of austerity measures the likes we have not seen for many years. For the first 12 months of their Parliament it seemed as though only the housing market and public service jobs would suffer. NHS managers were told they would be losing their jobs and the stagnation in the housing market meant very few home insurance salesmen were taking home big bonuses, but it seemed a bit of a phoney war. It is phoney no longer. The strike by public sector workers on Thursday will be worrying a Government that is looking nervously over its shoulder at what is happening in Greece and economic commentators are openly questioning if the Coalition were right to insist on such heavy cut backs. The next six months will be vital in determining if George Osborne got it right.

Tags: Administration, cheap home insurance, Closing down sales, Spending
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National database will be welcomed by the public

Thursday, June 23rd, 2011

Homeowners in the UK will be delighted to know that at long last a national crime database is to be launched. The National Police Improvement Authority (NPIA) will oversee the database that goes live today and it means that over 50 police forces in England and Wales can share information on the activities of criminals.

Database may cover for loss of neighbourhood constable

It will come as a relief to many people who worry constantly about security in their own homes even though they have good buildings and contents insurance. At a time when whole areas are losing their neighbourhood “bobby” the fact that regional forces can share information with each other will reassure property owners to a certain degree that they are not being abandoned.

Serious crime will be prime target

Of course the national database will be seen as a resource for the solving of serious crime primarily, and indeed the idea was first mooted by Lord Bichard in his enquiry into the murders of two young schoolgirls in Soham in 2004. The fact that police forces will be able to identify crime patterns nationwide though, should also help in tracking down criminals who specialise in house crime.

Database access will be vetted

The NPIA will strictly monitor the use of the new database with only about 1 in 100 policemen having access to it. The networked computers will be stored in specially designed “bunkers” that will be thoroughly secured to the point of being windowless, and only people who have been given special passes will be admitted. Each force will be able to decide what information they make available on the database and Policing minister Nick Herbert was quick to reassure civil liberty groups that measures would be put in place to ensure victims of crime were not put at further risk by the process.

System will help in the fight against cyber crime

It is thought the database will also be a big help in the battle against house crime. Many people are now robbed every day from an action that takes place in their home but is probably committed miles away. Online crime is now costing home owners millions of pounds each year and many householders have no idea they have been robbed until they check their bank balances at the end of the month. This database should also identify the fraudsters and scammers that use the internet to trap their victims.

Tags: crime, Cyber Crime, National database, National Police Improvement Authority
Posted in Home Insurance, Home Security | No Comments »

Vendors must get a grip on reality

Tuesday, June 21st, 2011

The frustrations of prospective house buyers looking to purchase a home of their own may soon be coming to an end, or at least may be eased a little. The latest report from giant, online estate agent Rightmove, is suggesting that house prices will soon starting dropping like a stone as homeowners looking to move on become more realistic. There is a real chance that new home insurance deals will become more commonplace towards the end of this year.

Vendors turning a blind eye to the market

The report by Rightmove is something of an eye-opener. Although the industry has been stagnating for well over a year, due to a number of factors that have all been making headlines in the press throughout the year, vendors putting their homes up for sale are still asking more and more for their properties. Incredibly Rightmove reveal that the average price of a home going on sale has risen every month in 2011 and is now 8% higher than the start of the year, a year that has seen mortgage approvals drop by half.

Asking price rocketing

At the moment the average price of a home for sale with Rightmove is slightly over £240,000, at the beginning of the year it was £223,500 and although it must be understood that many sellers will have hiked up the asking price because they were aware that buyers would automatically offer less than the brochure price, Rightmove believe June may be the month that sellers finally get a grip on reality and start to place their homes at a marketable price.

Reality will set in

Rightmove are convinced the fact that estate agents across the country are reporting more unsold properties on their books month by month because of the shortage of buyers, will start to sink in with those desperate to sell, and that prices will drop by around 7% in the second half of the year. This is just the news that many people are waiting for.

Banks slowly loosening purse strings

The difficulty prospective buyers have encountered when trying to arrange a mortgage has forced many into taking out rental house insurance on a let until the situation changes, and banks do seem to be slowly grasping the fact that people can’t afford what they are asking. Some loan providers are beginning to offer mortgages requiring only a 10% deposit without the interest rate being too prohibitive.

Basic ingredients are there

A noticeable drop in asking prices, a realistic approach to lending criteria by the banks, and low interest rates guaranteed for the short term at least, could just be the catalyst for the housing sector to gain momentum.

Tags: Home Insurance, House buyers, house insurance, rental insurance, Rightmove
Posted in First Time Buyers, Home Insurance | No Comments »

Consumers feeling the pinch

Tuesday, June 14th, 2011

Homeowners across the UK are feeling their financial purse strings gradually tightening as inflationary pressures continue to mount. The pursuit of cheaper home insurance, bargain buys at the supermarket, and cut price holiday offers are becoming ever more important for those who don’t want to see a drop in their standard of living.

Retail giants seeing sales slow dramatically

With new inflation figures set to be released by the Office of National Statistics (ONS) today, sales figures released by two of the UK’s biggest retail giants, Argos and Tesco recently, show just how difficult consumers are now finding the struggle to maintain their spending power.

Public buying less food so they can feed their car

Tesco announced this morning that for the second quarter in succession they have missed their sales targets on UK based stores. The underlying trend for stores in the UK that have been open for more than a year came in at -0.1%, this follows a -0.7% drop in the previous quarter and is considerably less than the 0.6% increase they anticipated. Tesco analysts believe that shoppers at their stores have cut back on food items, particularly fresh produce, to counter balance the extra cash they are forking out to fill up their cars at Tesco Fuel Stations. It is becoming more obvious daily that the austerity measures introduced by the government coupled with inflation fuelled price rises are impacting heavily on the general public.

Electrical goods losing their spark

Retail stores that rely on the discretionary spending power of consumers are being even harder hit. The Home Retail Group, owners of Argos, recently reported a drop of almost 10% in like for like sales on the first quarter of 2011 compared to the previous year. The collapse in sales of high value electronic items such as TVs and game consoles was the main factor according to the group’s chief executive.

DIY projects seen as money savers

Perhaps another indication of how the downturn is affecting the general public came from the figures released by the same group. While Argos stores took a beating over the quarter, Homebase DIY another part of the group actually showed an increase in like for like sales of 1.6%. A comment perhaps that homeowners are turning to DIY solutions for upgrading their properties safe in the knowledge they are covered by home insurance rather than bringing in tradesmen to do the jobs for them.

Tags: cheaper home insurance, retail giants, Saving Money, supermarkets
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Say it with flowers

Tuesday, June 7th, 2011

It is fairly true to say today, that anyone who has managed to find the deposit to buy a new home will take great pride in presenting their new abode in the best light possible. There are plenty of essential costs such as furniture, energy bills and home insurance when moving into a new home so finding a way to “dress” your home cheaply is a bonus. Flowers will add a freshness and presence to any room without costing the earth.

William and Kate not typical

We saw Prince William and Kate Middleton wed at Westminster Abbey where real trees were installed to form an “avenue” and 30,000 fresh flowers were brought in to adorn the place. For couples on a modest budget however it is not uncommon to use silk flowers for the wedding or indeed for any other memorable occasions such as anniversaries and ceremonies. They will also work in keeping a home looking attractive.

Fake has its advantages

Many people may have a stigma about using silk flowers, foliage or artificial plants and think that they look tacky, but they have many benefits. They are usually cheaper and thanks to the latest floral reproduction technologies many available these days look very realistic and lifelike. They last almost forever so can be kept as mementos. They are very low maintenance requiring no watering, feeding or re-potting but just some occasional dusting. Most are hypoallergenic and so are perfect for people who suffer from pollen and fragrance allergies. It should be noted that some hospital wards do not accept fresh flowers anymore because of allergies they may cause and the maintenance needed.

They are even good for flower arrangement. As the stems of most artificial flowers can be bent and twisted you can be creative and arrange unique and unusual styles. As they do not wilt it is possible to leave the arrangement unfinished and come back at a convenient time. Moreover, if kept in good condition they can be reused and there is no chance of pollen stains or water spills necessitating home insurance claims.

Real thing has a special appeal

The disadvantage to artificial flowers is of course that they will always be the substitute, not the real thing. The freshness the real flowers and plants bring to a room – the smell, the colour and the touch – cannot be replaced. They can brighten up the room in the way that no artificial flowers or plants can do and there is a joy in nurturing, growing and looking after plants which for many people can be irreplaceably rewarding.

Tags: artificial flowers, Home Insurance, interior decoration
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