Putney Flats & Houses For Sale & Rent

Monthly Rents for Up Front Business Premises

noreply@blogger.com (London Estate Agents) — Sun, 29 Jan 2012 12:29:00 +0000

Commercial landlords who let their premises to retailers should allow their tenants to move to a month-by-month payment system.

This is according to the British Retail Consortium (BRC), who believe that scrapping the tried and tested quarterly payments system would help businesses manage their finances better, particularly in the months following on from Christmas.

Sarah Cordey, spokeswoman for the BRC, explained: “A large number of landlords still operate on a quarterly basis when it comes to collecting rent up-front for business premises.

“The quarterly rent payment date fell just after Christmas, so again, where companies had not had a Christmas that made up for 2011, they would also in some cases have been faced for a bill for three months in advance, which obviously poses cash flow challenges to any business.”

She added that in her opinion a quarterly rental agreement is an “anachronism” in this day and age due to the speed in which direct bank payments can be made and called for landlords to be more flexible with retailers who are feeling the pinch.

Despite the current economic climate, figures from the Office for National Statistics show that retail sales rose by 2.6 per cent year-on-year in December.

However, several high street chains, such as Peacocks and La Senza, have recently been forced into administration.

London Commercial Property News

Mortgage Rate and Home Loan News

noreply@blogger.com (London Estate Agents) — Thu, 12 Jan 2012 13:34:00 +0000

Halifax has announced plans to help first-time buyers get a foot on the property ladder with a new fee-free mortgage.

The home loan, which lasts for two years and has a fixed interest rate of 5.99 per cent over this period is available to those with a deposit of between ten and 15 per cent of their new home's value.

With mortgage fees typically adding up to around £995 the loan is certain to seem attractive to first-time buyers looking to save a bit of cash.

For the bank's current account customers there will be an additional £150 cash-back bonus on completion of the mortgage.

"Buying a house has always been an expensive process and for first-time buyers every bit of help counts," commented Halifax's mortgage director Stephen Noakes.

Last month, Leeds Building Society also offered a helping hand to first-time buyers in the form of a mortgage with a five-year fixed rate at 4.94 per cent with 95 per cent loan-to-value.

Mortgage Rate and Home Loan News

Annual Dip In Monthly Rents; Opportunities for Potential Tenants

noreply@blogger.com (London Estate Agents) — Fri, 23 Dec 2011 16:29:00 +0000

December is a great month for people to find a rental property, claims one specialist.Property analyst Samantha Baden of Find a Property claims that monthly rents have dipped in the past month and that provides a wealth of opportunity for people looking to rent a new home. Since the winter of 2008, rental prices have experienced a minor lull in the last two months of the year before rising again in the new year."This temporary dip in asking prices won't last long, and it's a great opportunity for potential tenants to agree a rate that's favourable in comparison to the rest of the year," she stated. Overall UK rental prices fell by 1.5 per cent during November. The East Midlands, however, felt the highest fall, with prices dripping by 4.8 per cent. Despite this the private rental market will remain strong well into 2012 according to the Residential LandlordsAssociation because there is currently not enough properties available to meet demand. London Rental Property News

Report on 'Investing in the Private Rented Sector: Landlord Returns, Taxation and the Future of the Private Rented Sector'

noreply@blogger.com (London Estate Agents) — Fri, 09 Dec 2011 14:12:00 +0000

The RLA report that the report on the private rented sector warns that current returns for landlords are very low once costs and inflation are taken into account, despite headline reports of rising rents. This is restricting the amount of new accommodation available to meet increasing demand.

Prepared by Michael Ball, Professor of Urban and Property Economics at the University of Reading, the Report highlights that rents remain significantly below their early 2008 levels, when adjusted for inflation. The Report used a new economic model fed with financial data from over 200 landlords.

Following a survey of landlords' costs and returns, the Report found that present rent levels do not cover landlords' expenses when all factors are taking into account, including refurbishment and borrowing costs, agents' and legal fees, voids and arrears, energy and safety certificates, repairs, depreciation and regulatory compliance.

Additionally the tax burden on the private rented sector is much more than on other types of tenure, averaging £1,000 a dwelling. Sharp real falls in the value of their properties over the past four years have pushed total annual returns for many landlords into negative territory.

Currently, almost 90% of English landlords are private individuals and couples and many residential investors would have been better-off if they had invested their money elsewhere.

The Report warns that the consequences for tenants will be "grim" as they face increasing rents and a chronic shortage of properties. Economic recovery will also be significantly held back by a lack of affordable rental housing. It calls for Government reforms to the taxation and regulatory treatment of the sector to alleviate pressures on rents.

Commenting ahead of the formal launch of his Report today (November 22nd) at the House of Commons at a meeting of the All Party Parliamentary Group for the Private Rented Sector, Professor Ball said:

"There is much hype about the private rented sector at present, but the reality is that landlord returns are generally poor and with a weak economy are likely to stay that way. Investment in the past was driven by rising house prices, now there is a need to rethink taxation and regulation so that rental returns come to the fore at rent levels that are affordable for tenants."

Responding to the report, Alan Ward, Chairman of the Residential Landlords Association commented:

"Professor Ball's report demonstrates clearly that the private rented sector is taken for granted - the returns are only superficially rewarding because few landlords account for the cost of regulation and taxation. Only the lack of an alternative secure investment, and the curse of capital gains tax, prevents many landlords from dis-investing just when more people need private renting because of lack of access to the owner occupied and social rented sectors."

Renting Property Long Term Is Becoming the Norm

noreply@blogger.com (London Estate Agents) — Wed, 23 Nov 2011 09:33:00 +0000

The number of people renting property could exceed the number of homeowners by 2026, says a survey by private landlords Grainger.

Some 67 per cent of respondents said that they felt long-term rental was becoming the common choice for most people, while 54 per cent added they expected there to be more renters than owners in 15 years time.

In addition, 49 per cent said that they do not feel any pressure or rush to purchase a property and 40 per cent stated that some time in a rented home was an important step in them deciding on how they would move forward on the property ladder.

Nick Jopling, executive property director at Grainger, said: "There is a new housing reality dawning on Britain: the financial crisis has tightened mortgage lending; house prices continue to be uncertain; and frankly there are simply too few homes for the demand."

Despite this the National Association of Estate Agents (NAEA) reported last month that the number of properties purchased by first-timers rose by two per cent in August this year.

First Time Property Buyers News

Rental Properties Failing Energy Performance Certificates

noreply@blogger.com (London Estate Agents) — Wed, 09 Nov 2011 12:01:00 +0000

More than one in six landlords (17%) say that their properties fall into the lowest two categories of energy efficiency – meaning that they could be banned from the rental market.

From 2018 under the Government’s Green Deal proposals, properties with F and G EPC ratings will not be allowed to be let.

The finding emerges in the latest poll by the Association of Residential Letting Agents, which also discovered that over one-third of landlords (35%) do not know how their properties score with EPCs.

ARLA called for the Government to help landlords to achieve minimum standards, asking for the Landlords Energy Savings Allowance to be extended.

Ian Potter, operations manager of ARLA, said: “The clock is ticking for the private rented sector to improve its environmental performance but the investment just isn’t there to ensure that this change takes place in the Government’s timeframe.

“ARLA has campaigned for the Government to incentivise – through tax relief – the improvement of rental properties. Otherwise it is going to be exceedingly difficult for the majority of landlords to find the funds to improve stock.”

While the Green Deal will offer landlords upfront access to funds, it is tenants, as users of the properties, who will have to repay the loan.

The survey questioned more than 1,500 landlords.

Landlords See Increase in Rental Income in September

noreply@blogger.com (London Estate Agents) — Tue, 25 Oct 2011 11:09:00 +0000

Increasing rents isn't just a phenomenon exclusive to the property market in London.
The latest buy-to-let index from LSL Property Services reveals that landlords in all areas of England and Wales saw an increase in their rental income in September.

The figures were the largest since records began with the average rent rising by 0.7 per cent to reach £718, exceeding August's previous record high of £713.This represents a 4.3 per cent increase on the same period last year.The south-east and the East Midlands saw the biggest rises, with 1.8 per cent and 1.1 per cent respectively compared to August.

In the past 12 months as a whole, rents in London have risen at the faster rate, increasing by 5.8 per cent.

David Brown, commercial director at LSL Property Services, said: “In areas of the highest demand, such as the capital, competition is driving up rents at a faster rate than elsewhere, but no region has been immune to the growing demand for rental homes from frustrated buyers."

The figures follow comments made by Greg Kinnear of Landlord Assist, who estimated that a rise in living costs would prohibit people's ability to buy property and further drive the rental market.

Landlord and Tenant News

London Buy to Let Mortgages Remain Pricey

noreply@blogger.com (London Estate Agents) — Sun, 16 Oct 2011 08:50:00 +0000

People who need to secure buy to let funding in order to expand their portfolio might be pleased to hear that average mortgage rates have fallen in the last 12 months.

Research from Defaqto revealed that the average two-year fixed rate for a buy to let mortgage at 75 per cent loan to value has dropped from 5.78 per cent in September 2010 to 4.86 per cent last month, while three-year product have seen average rates fall to 5.56 per cent from 6.03 per cent last year.

However, those looking to buy flats and houses for sale in London, in order to rent to tenants will still find a buy to let mortgage is significantly pricier than an equivalent residential mortgage.

Defaqto insight analyst for banking David Black commented: "People should factor mortgage fees into their calculations as, like the interest rate, they tend to be much higher for buy to let mortgages than for residential mortgages, and can make a real difference to the overall cost of the mortgage."

Buy to Let Investment News

Investment Finance News: Landlords thinking of expanding portfolios

noreply@blogger.com (London Estate Agents) — Fri, 23 Sep 2011 11:37:00 +0000

The majority of buy to let landlords are thinking about investing in more property in the next year, according to research from Assetz.

Over three-quarters (76 per cent) of investors believe now is the right time to expand their portfolios, whereas just one in ten are holding off purchasing more residences because of the economy.

Stuart Law, chief executive of Assetz, commented: "The buy to let market is booming with landlords returning in considerable numbers, encouraged by the excellent rental returns currently available as well as the prospect of long-term capital growth if property prices continue to strengthen.

"UK residential property in the right locations is increasingly viewed as a safe haven, offering investors a long-term, low-risk investment for their cash," he pointed out.

The research also found half of those surveyed are prioritising long-term capital gain, while 44 per cent are looking to secure income from their investment.

Investment Finance News

London Rental Property News; Stress Free House Moves

noreply@blogger.com (London Estate Agents) — Tue, 13 Sep 2011 12:48:00 +0000

People who are looking for property to rent in London or first time buyers getting set to move into their first home can take a number of steps to ensure moving is "hassle free".

The National Association of Estate Agents (NAEA) has offered some top tips on how to make moving as easy as possible.

According to the NAEA, it is important to get a number of quotes from removal companies before deciding on one, as the services they offer can vary a great deal.

Peter Bolton King, chief executive of the organisation, said: "Moving into a house should be an exciting time, but too many people leave preparation until the last minute, which often adds avoidable pressure and expense.

"Making a few simple checks and arrangements in advance should keep problems to a minimum."

Other ways to make moving less stressful include setting up services - such as gas and electricity - as soon as possible and plan the packing well in advance, working out where items are going to go before putting them all into boxes.

Moving home is often considered one of the most stressful events in people's lives.

London Rental Property News

London's Rising Rents Indicate High Demand

noreply@blogger.com (London Estate Agents) — Thu, 23 Jun 2011 16:58:00 +0000

Landlords with property to rent in London are set to benefit financially as rents rise.

According to data from LSL Property Services, rents rose to a record high in May, having increased by 0.5 per cent to an average of £696.

London landlords are particularly well-placed to benefit as they could well see total annual returns of nearly five times the national average as demand for London property to rent steadily increases.

John Heron, managing director at buy to let lending specialist Paragon Mortgages, commented: "The rising rent costs reported give an indication of the continued lack of properties in the buy to let sector due to the constrained finances of professional landlords.

"There are a number of products available for smaller scale landlords, with only one or two properties, but for the professional landlord with a large portfolio there is limited finance available," he noted.

Mr Heron called for more UK mortgage lending options to be made available to professional landlords, as this will be needed to drive growth in the sector.

London Property to Rent

UK Mortgage Rate and Home Loan News

noreply@blogger.com (London Estate Agents) — Sun, 05 Jun 2011 09:06:00 +0000

Prospective house-buyers who have been keeping an eye on London property prices have been given advice about which mortgage product is the best value.

Ray Boulger, senior technical manager at John Charcol, told the FT Money Show podcast that UK mortgage offers with variable rates might provide better value for homeowners as he believes rates will rise more slowly than the market.

"Clearly, everybody will have their own view on that and if you do want to buy security, then if you only buy that security for two years, you're buying it for a period when you least need it because rates are clearly not going to go up very quickly," he pointed out.

"Whilst there will be some people for whom a two year fixed rate does make sense for the majority of people, I don't think a two year fixed makes sense."Mr Boulger added that either a lifetime tracker or a five year fixed product will work best for most people.

Mortgage Rate & Home Loan News

Property Being Rented Out Within 13 Days

noreply@blogger.com (London Estate Agents) — Wed, 25 May 2011 08:42:00 +0000

The RLA has reported that rental properties – especially in London and the South East - are being taken within a 13 days in the first three months of 2011, compared with an average of 17 days in quarter one of last year, reports Countrywide.

Countrywide’s 1,300 offices also saw a 51% uplift in demand from tenants in the new year, a greater increase than that seen at the start of last year (46%) from quarter four 2009.

Findings of the quarterly review also revealed a significant rise in the proportion of small-scale buy-to-let landlords coming back into the market, reflecting an increased appetite for lending to these investors.

These buy-to-let investors with small portfolios of one to three properties now account for 40% of all landlords, up from 35% at the end of 2010.

Overall, supply remains stable but low, with a shortfall of supply across all property categories, from studio flats to five-bedroom houses, with an average of five tenants vying for each available UK rental property.

Demand remains consistent with Countrywide’s observations throughout the last 12 months and remains strongest in the London and South-East, with above average supply shortages across all types of property.

Putney Pub Makes NME Small Venue Shortlist

noreply@blogger.com (London Estate Agents) — Fri, 20 May 2011 16:22:00 +0000

As part of a new campaign to "Keep Live Music Alive" NME is on the hunt to find Britains Best Small Venue - the grass-roots pubs and clubs that are the beating heart of this country's music scene.

The Half Moon Putney was notified by the NME yesterday that they had been shortlisted for the competition along with 4 other venues in the London category.

Carrie Davies, of The Half Moon said:
"This time last year we were still celebrating the fact that The Half Moon didn't close and to be shortlisted for such an award only a year later is incredible. We are so lucky to have such loyal supporters, from our regular customers to the great bands that play here"

The Half Moon is determined to continue to book live music 7 nights a week and prides itself on booking an eclectic mix of bands and artists from 60s Soul Legends to the next big thing.

To cast your vote Voting closes on 10 June 2011

Putney Pier Part of Transport for London River Service

noreply@blogger.com (London Estate Agents) — Wed, 18 May 2011 15:15:00 +0000

With the sun shining and the days getting longer there has never been a better time to push the boat out and make the most of London's greatest highway.

Whether you're looking for a new and relaxing way to commute to work or a delightful way to spend time with family, friends or loved ones, the River Thames has so much to offer this spring and summer.

Transport for London (TfL) has introduced a range of improvements to river service information focusing on making it easier for Londoners and visitors to make the most of the River Thames.

With real time boat information at many piers, new Tube-style river maps, improved signage to piers and services and Oyster pay as go acceptance on Thames Clipper services, it's never been easier to set sail and see London from a new perspective.

Giving you a helping hand along the way London River Services has published its updated River Bus and River Tours guides for spring/summer 2011.

Available online, at some central London piers, at London Underground stations and TfL travel information kiosks these provide details of services and activities that stretch from Hampton Court Pier in the west to Woolwich Arsenal Pier in the east.

Putney Rental Property In Short Supply, While Demand Ramains High

noreply@blogger.com (London Estate Agents) — Tue, 17 May 2011 08:45:00 +0000

Residential property rents are growing faster than sales prices in London with the private rented sector likely to account for one in five households by the end of 2016, according to a new report from Savills.

In Greater London average residential rents increased by 16% in 2010 and demand from overseas corporate clients is on the increase, the research found. It also shows that rents in East London have already risen by 4.3% in the first three months of this year and by 3.6% in North London.

The highest rental growth this year is expected in prime southwest London such as Fulham, Putney, Wandsworth, and Richmond, as stock levels here are particularly low and demand high.

‘High rent rises are not confined to the prime market and, as more aspiring buyers are frozen out of home ownership, demand for private rented stock in the country as a whole can only grow. Our prognosis for the private rented sector as a whole remains extremely bullish,’ said Barnes.

‘ We don't foresee that stock levels in the rentals market are going to change due to a continued demand from overseas tenants. We may see slightly more stock come to the market as those landlords who aren't living here full time choose to rent out their properties,’ said Jane Ingram, head of lettings at Savills.

London Property Market Looks Healthy

noreply@blogger.com (London Estate Agents) — Wed, 20 Apr 2011 09:41:00 +0000

The London property market will continue to look healthy for the next couple of months.

According to Liam Bailey, head of residential research at Knight Frank, the spring months tend to show strong demand because this is when many people start looking for new homes, but this year may not see the beginning of any surge in demand.

"I don't think the economic conditions are right at the moment for a big up-tick in sales volume."Mr Bailey also noted that the property market is unlikely to record price falls in the coming months.

"House prices in the UK are still not far off their peak level. They are at a fairly high level at the current time, so I think it is unlikely to see an increase in demand translating into big price growth," he added.

Meanwhile, research from Rightmove revealed that the proportion of people expecting London house prices and those in other parts of the country to fall over the next year has fallen from a third to 24.9 per cent this quarter.

London Property Market News

Buy to Let Investment News: New lenders 'will improve situation for landlords'

noreply@blogger.com (London Estate Agents) — Mon, 11 Apr 2011 07:28:00 +0000

Those entering the buy to let market are likely to find companies providing UK mortgage offers have a "smart and savvy" approach to landlords.

According to David Lawrenson, private rented sector expert at LettingFocus.com, UK mortgage lending firms who are new to the buy to let funding market will be "a lot cleverer than the one-size-fits-all lending of the past".

"We are going to see a much more clever market and product than we have seen to date. For example, they will look at the location perhaps where someone is buying and they will look at the risk of the landlord. That will be good for the landlord," he explained.

Overall, the financing situation for those with property to rent in London and other locations will "continue to get better too".

Mr Lawrenson's remarks come after research from Mortgages for Businesses found the number of buy to let mortgage products has more than doubled in the last 12 months, increasing from 142 to 298.

Buy to Let Investment News

London Property News: London to outperform UK property market

noreply@blogger.com (London Estate Agents) — Sun, 20 Mar 2011 16:12:00 +0000

Property in London will fare better than the rest of the country, an industry expert has said.

Jane Marr, company director at property advertising website Little House Company, predicted that the capital would see a rise in house prices.

"It seems to me that house prices will stay about the same without much movement nationally, however where it is hard to sell a property we will inevitably see house price falls," she added.

"At the same time, desirable locations may suffer with a lack of housing inventory, generating small price rises. Central London in particular may see house price rises as demand increases - especially in the high-end luxury market fuelled by overseas money and the wealthy."

The comments come after figures from Rightmove.co.uk suggested that an increasing number of people are searching for new properties on its website.

Properties for sale are now staying on the market for an average of 89 days, down from 98 days outlined in its previous report.

London Property Market News

Rent, Location and Condition Are Top Of Tenants List of Wants

noreply@blogger.com (London Estate Agents) — Sat, 12 Mar 2011 11:05:00 +0000

Energy Performance Certificates (EPCs) are having little impact on prospective homeowners, research by Consumer Focus has found.

A survey by the watchdog found 80 per cent of those looking for new homes to buy or rent would not be influenced by a property's EPC, despite one in seven people stating that their new home's energy efficiency is the most important aspect to them.

Landlords and homeowners are legally required to provide an EPC when letting or selling a home.

Spencer Lawrence, director of lettings at Paramount, pointed out: "Tenants select rental properties based on various factors including proposed rent, location and condition.

"The information contained within an EPC does not in our experience have any bearing on a tenant's decision to take one apartment over another - it doesn't seem to be part of their thought process, so its place in the market is unclear," he added.

Meanwhile, the government has announced that accredited Green Deal providers will be able to approach properties with EPCs to offer tailored advice.

Landlord and Tenant News

Landlords React to Buy to Let Figures

noreply@blogger.com (London Estate Agents) — Wed, 02 Mar 2011 19:04:00 +0000

One of the country’s leading voices for landlords in the Private Rented Sector is calling for the Government to do more to support growth in the sector following the publication of the latest buy-to-let mortgage figures, according to the RLA News Service.

Commenting following the publication of the data from the Council for Mortgage Lenders, Alan Ward, Chairman of the Residential Landlords Association said:

“Growth in the number of buy-to-let mortgages should be welcomed as the country addresses its housing shortage, but the supply of properties is still falling far short of the increase in demand.

“In its third quarter report last year, Find a Property showed that the number of properties available to rent between June and September fell by 14.5%, with fewer rental properties available than at any time since July 2008.

“There is a housing crisis looming with a shortfall of half a million homes by the next election. With the private rented sector expected to take a greater role in providing housing to those unable to afford a mortgage, those languishing on social housing waiting lists and the homeless, the RLA is calling on the Chancellor to introduce a package of cost-neutral fiscal measures to stimulate growth in the sector.”

Local Pub Gets Top Place in CAMRA Awards

noreply@blogger.com (London Estate Agents) — Mon, 21 Feb 2011 11:49:00 +0000

The Bricklayers Arms in Putney has been named the South West London Pub of the Year by local members of the Campaign for Real Ale.The pub in Waterman Street, beat off the challenge of seven other pubs in Wimbledon, Wandsworth, Battersea and Balham.

The Bricklayers previously won the award in 2006 and 2008, and in 2007 and 2009 it was named the best CAMRA pub in Greater London.

Second place in the awards, voted for by 1,400 CAMRA members and announced at this year's Battersea Beer Festival, was the Eagle Ale House in Chatham Road, Battersea. Third place went to The Nightingale in Nightingale Lane, Balham.

The Bricklayer’s Arms is hosting Yorkshire Beer Festival from Wednesday 23rd February – Sunday 27th February.This legendary festival features over 80 fantastic beers from Yorkshire.

Local Area Maintenance Made Easy Through Charity

noreply@blogger.com (London Estate Agents) — Tue, 01 Feb 2011 11:15:00 +0000

Have you ever wanted to report a problem in your area but don't know who to contact? Have you spent ages on the phone trying to speak to someone at your local council? If so, this website is for you.

The charity mysociety.org in conjunction with Young Foundation launched fixmystreet.com in 2007 and provides residents with a quick and easy way of reporting things in their area that are broken, dirty, damaged, dumped, needs fixing, cleaning or clearing.

To use the site, all you just need to enter your postcode or location, and then you can view problems already reported in your area, or report your own by clicking your location on the map provided.

All reported problem will be sent to the relevant council by email. The council can then resolve the problem through their normal procedure. Local residents are also able to discuss the problem with others on the website by providing an update.

Please visit the website for further information, to sign up for alerts or to start reporting your problems.

London Property News

New Homes Bonus Scheme to Let Empty Properties

noreply@blogger.com (London Estate Agents) — Sun, 16 Jan 2011 15:36:00 +0000

The Government has launched cash incentives for both residents and local authorities to bring empty properties back into use.

Under the New Homes Bonus scheme, the Government will match council tax raised by councils, as well as offering council tax discounts to residents who help to identify empty properties.

Northern cities are particularly badly hit by the empty homes problem – especially Manchester, Liverpool and Bradford.

There are approximately 8,000 properties across six London boroughs (including Westminster and Camden) that have been empty for at least six months. Across the same six boroughs there are 68,500 households in housing need and another 5% living in overcrowded conditions.

The Government hopes the new incentives will offer councils a way to cut empty homes and, at the same time, raise much-needed revenue.

London House Prices; House prices 'tending to fall'

noreply@blogger.com (London Estate Agents) — Thu, 16 Dec 2010 10:15:00 +0000

London house prices along with the cost of properties in other parts of the UK have fallen further, according to the latest figures from the Royal Institution of Chartered Surveyors (RICS).

The organisation's UK Housing Market survey revealed that lack of demand from buyers continues to "stifle" the market, while the preference for large deposits and limited availability of UK mortgage lending options is preventing first time property buyers from entering the market.

Some 44 per cent more chartered surveyors reported falling prices than rising ones in November, a slight improvement from October's net balance of minus 49 per cent, while the average number of sales per surveyor fell to 14.8 over the last three months.

RICS spokesperson Ian Perry commented: "There was little change in the housing market in November; prices continued to edge lower and sales levels generally remained subdued.

"Despite some better economic data, fears over how future spending cuts will impact on the jobs market are clearly still weighing heavily on potential purchasers' minds, with many deciding to 'wait and see' until the new year," he added.

Meanwhile, Zoopla.co.uk research shows the value of the average home has risen by 2.36 per cent in the last year.