Upon conducting research of London’s
property market, if fair to say the demand of purchasing property has
increased, this is great news for the property market! As for the supply for
these London properties, this has not increased along with the demand.
According to Housetrack.com figures, London
has seen demand rise ahead regions has risen by 9% while supply has grown by
28%. The net result has been a -0.2% to -0.5% decline in prices over the last
quarter.
Now I would ask the question, why is this?
Property companies within London should be looking at this as a fantastic
opportunity to make money as the consumers are there ready and waiting. So why
are they not selling as much as there is demand for?
Upon conducting further research, the one
thing that sticks out like a sore thumb (this is just my opinion!), buyers
whether they be first timers or investors, find it more and more difficult so stump
up the cash needed to buy Property London, hence the statistics showing
property companies not being able to supply the demand.
I am regularly in contact with people in
the property industry from estate agents to property developers. They are all
saying the same thing that potential clients would love to buy their
properties, are able to maintain the costs of buying that property (e.g.
mortgage repayments etc.), but are not able to pay the upfront fees associated
with property or house buying.
Let’s take a round figure and say the
average London property is £250,000 (we all know it’s higher than this!),
typical residential mortgage is 15% (£37,500); stamp duty say 1% (£2500),
solicitors fees (1k). These are just some of the fees and as you can see in this
example, the first time property buyers have already shelled a whopping
£40,000! This is before any value has been added to the house or a single
mortgage repayment has been made. We have not even spoke about a buy to let
investor mortgage which usually requires a 25% deposit. This example would set
them back around £63,000!
How is a first time buyer supposed to get
hold of that sort of money in this economic climate with jobs being cut left
right and centre? As for a buy to let investor he/she buys a property this month,
how long will it take for them to save that £63,000 to go out and buy again?
I have invested in property for the last
18yrs now. Through property experts and gurus, I have been exposed to the
property buying secrets that have been kept at arm’s length by elite property
circles.
I have that information and would like to
pass this information to you Free of charge. I don’t believe that this
information should be kept classified any longer, so for that reason I am
letting you in on the most powerful ‘PPS’ property purchasing system known to
man (and woman!).
For your chance to receive this free
information pack go to http://www.propsavvy.com/
I can assure you that you will never pay a
property legal again!
Graham Andrews is a powerful Property expert,
online mentor and one of the UK's elite professional property investors.