Current Property News: EPC regulations being made to look nonsense.

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By Steve Roulstone

Recent changes in the way in which EPC documents have to be displayed are quite frankly being made to look ridiculous by the way in which they are being translated. It is of course well known that there are always areas that need clarification when new legislation is introduced, but the plethora of new requirements being launched at our industry at present does beg the question, why is it so unclear how to introduce changes that, if we got them wrong, are subject to a financial penalty?

EPC Displays.

The clarity is supposed to be how and where the information shown on the EPC is displayed. There are three areas of concern, when a property is being viewed, when it is being advertised and when it is being displayed. The problem lies with the latter, but all affected areas have had to be clarified.

Property viewings.

This for us was the easiest to deal with, as the EPC has to be available for all potential Tenants when a viewing takes place. As our staff carry I Pads with the EPC stored for every property being marketed, along with as much information as a Tenant may require, this was easy to deal with. All we needed to get clarified was that an electronic version, with a back up of the written version being supplied either in the post or by e-mail. It is.

Advertising.

This includes both the paper version of advertising as well as through the web. Again, after some suggestions that the EPC would have to be placed alongside each property advertised in the paper, it was confirmed that it does not need to be in this format. Good job really or this post would have had two targets for the ridiculous suggestion of the year!

Display advert.

Now for the area that has me looking to the skies in frustration! It is well known that property details are in by far the majority of Lettings or Estate Agent offices produced in A4 size, or something very close. This includes the window display and in our case as with many others on a rolling TV display. Well somebody has now decided that the front page of the EPC should be included on page one of the document displaying the property, if the document includes for a rented property a photograph and the price as well! Not much point in producing it if it does not!

New Style.

They also state that it has to be page one of the new style, but that the new style is not needed for those that have already been produced (They last ten years for a rental property) so firstly, how can we show the new style unless we pay for an updated version? If you visit the EPC report retrieval site www.epcregister.com to recover a report it is STILL shown in the old style?

 Ridiculous requirement!

But worst of all, is how can a form designed for A4 reproduction, with close on 50 lines of information be shown clearly ON an A4 sheet of paper and leave any room for anything else to be displayed on the same sheet of paper? Does this mean that all property display details are going to have to be re-produced in A3 to allow room? Are every single Estate and Letting Agent in the country going to have to change their display units costing £millions? This is (once again) an effect of the changes that has just never been thought through, the practical requirements and sheer ability to be able to comply with the need to show the EPC in the manner described is just impossible?

Conclusion

I just do not have one! I just hope that common sense prevails in the end and that a proper solution is found, in the meantime all Agents are left wondering what to do whilst being in danger of having a fine clapped on them for failing to display EPC details in the new format! Or do we just change all internal and window display units and spend a fortune changing them? Just in case!!

Property Landlord Information: A Guarantor is a Guarantor is a Guarantor!

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By Steve Roulstone

Just when you think you may find it difficult to think of something to find as a topic for the second Blog of the week, actually working day to day in a Lettings office comes up trumps. There is after all always something happening and something to write about but never surprising. The point is that it is nearly always a subject that has cropped up before, quite often from a different angle or from a differing view point, but very rarely is it a subject that is new to our experience, which means we are able to respond correctly and quickly.

When is a Guarantor not a Guarantor.

Today’s topic is one that usually only raises its head when another problem exists in the background, so when the conversation starts with the statement ‘I do not want to be a Guarantor any more’ The first question has to be why and then of course we have to advise the consequences, which, unless a replacement is already lined up, is that the Tenancy is still live and that they are still responsible as Guarantors.

Differing positions.

Of course there are many differing situations, this morning’s was the most common one, one partner has left the house and the Guarantor has found themselves looking after the child’s ex partner. This is usually the worst scenario, as we also have to inform the wounded parent that not only are they still liable, but also their child is still responsible for the rent and of course property  as well, until acceptable alternative arrangements are confirmed.

Best advice.

 Of course we do everything possible to make people aware of their liability before the agreement is entered in too, including a separate fact sheet for the Guarantor which is also signed separately to the agreement. The problem is who reads them? We also prefer the Guarantor to be present at the check-in, where the Tenant who has also been given a copy of the agreement to read prior to moving in, which is also ignored more often than not. The point being  that no matter how much we try and at least some do read the information, so it is worthwhile, a percentage of those that do not end up hearing exactly what they do not want to hear when the question is asked.

Solution.

Well in real terms, i.e. as per the agreement, there is not a solution, rather the Tenants have to abide by notice, if the second party still wants to leave and therefore the Guarantee agreement still stands. However taking a practical stance, providing the Landlord does not loose rent then either a replacement can be found or an alternative Guarantor, but ONLY when either criteria is met and new documents signed is the original agreement replaced and not until. Of course if as stated the second person does not leave or no alternative Guarantor can be found, then there is no change!

Conclusion.

So my original statement stands, because a Guarantor is the Guarantor for the duration of the agreement. Of course such problems, whilst being the bread and butter of such articles as mine, do not happen often and if 95% of Tenancies pass without a hitch, then the same percentage of Guarantors never have to make that phone call! 

 

Current Property News: Castle Blog 2 Year Anniversary.

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By Steve Roulstone

 

It may not be news to some, but to me the two year anniversary of my Blog page (This is the 200th Post) marks the changes that both the industry and my Company have gone through during this time. It started as a way of promoting the name of the group at a time when I was both a Franchise holder and Franchisee of the Castle Estates Group. The Anniversary marks a time when the Franchise group has ceased trading and my own Franchise has become an independent Letting Agency, as have all of the National Castle Offices across the country.

 

Changes in trade.

 

On the face of it, such a statement of fact may seem to be a statement of failure, as the group no longer offers Franchising at all. But rather it is a statement about the industry itself, which no longer in my humble opinion suits the Franchising model, in the same way that Estate Agency never has either. The reason is simple, because of the housing sales collapse, nearly every Estate Agents in town has added lettings to their business model and one can hardly blame them, as there is no doubt this saved many Companies from closing during the last three years.

 

Changes in Law.

 

This period has also seen many changes in law as Governments continue to try to put their control on a sector which they obviously felt was not giving Tenants a fair deal. Regular readers will know that I look on our industry as two sectors, the non professional and the professional. Legislation has enveloped all. The only pity is that our professional bodies were not strong enough to convince the Government that they could self Police and until legislation enforces all Agencies to join a professional body this will not change.

 

Changes in rules of the game.

 

Not all legislation has been to do with how the industry treats its clients however and of course there have been many changes involving procedure, which ultimately DO effect how clients are treated, but are more to do with how we carry out our business than the principals used in doing so. Most of these changes have only just taken effect through the Localism Act, such as new regulations surrounding Tenants Deposit and the manner in which the Energy Performance Certificate is dealt with. No doubt we will continue to see more, although without being Political, it tends to be the socialists that encourage control of our every move rather than the current incumbents.

 

Trading as a Letting Agent.

 

So back to the day job! Well that has been the result of the major change during the time this blog has been running and in fact I am pleased to state that this Blog has been one of the more consistent factors in my daily work. It is a task I both enjoy and feel offers a real service to our client base, both Landlord and Tenant. Certain posts now find themselves repeated in our local papers so the presence of the Blog has more to do with the day to day running of an agency now without the National link. This is a fact that is confirmed in its content matter as more local issues are discussed than National on a weekly basis.

 

 Next two years.

 

Well I hope for more of the same. There is certainly never a shortage of topics as everything surrounding the Industry is discussed on a weekly basis. From viewings to agreements, buying property and preparation for the market, Informing both Tenants and Landlords, discussing professionalism and how to deal with problems, we have covered it all and hopefully will continue to do the same, no matter what changes are introduced.

 

Current Property News: Council and Mortgage provider offer key to the future?

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By Steve Roulstone

 

An unusual link has been formed in the launch of a new scheme to assist first time buyers in the Staffordshire Moorlands. Leek United Building Society has put together a scheme with Staffordshire Moorlands District Council to offer 95% mortgages to those who cannot afford the usual 25% deposit currently required by most mortgages but can afford the monthly re-payments.

 

Target audience.

 

The scheme is targeted at first time buyers who either live or work in the Staffordshire Moorlands catchment area. Presumably for the property being purchased to be acceptable, the house will need to be within the Moorlands catchment area. This can only be looked upon as a good idea by Staffordshire Moorlands Council, who will presumably attract more Council Tax payers for the region and at the same time removing pressure on the Council’s social housing needs.

 

Finances.

 

The idea is that the Council will approve purchasers providing they meet with the rules of the scheme and then act as Guarantor for the payment of the monthly mortgage.  Also fees chargeable appear to be very transparent from the start, so those looking to sign up should be able to budget all costs applicable prior to applying. The role of the third party (Sector Treasury Services Ltd) listed as part of the agreement is not made clear, but I would presume that they are able to assist in the 5% deposit required.

 

Timescale.                      

 

The scheme is only available for a short period until the end of August 2012, but hopefully it will be a success and it is certainly one that I shall be keeping an eye on. If it does prove successful, hopefully other Councils will also be keen to look at the implications and results as it would seem to me to be an innovative way of dealing with the perennial problem for first time buyers, especially with the current mortgages that are available.

 

Market effect.

 

I also feel that it is an idea which will have little effect on the rental market, which you will forgive me for considering. Yes there may be some reduction in Tenants, but at a time when the market needs any kind of encouragement it can get, especially in an area like the Moorlands who rely on the more traditional industries which are probably affected more by the current financial uncertainty than most it is good to see people thinking outside of the box. Time will of course tell, but I for one applaud the positive move. Hopefully when tested there will be enough people willing and able to fulfil the criteria set out by those concerned in this laudable initiative.

Block Management Advise: Sub Letting can lead to problems.

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By Steve Roulstone

 

As an agent who act as both a Letting Agent and a Block Management Agent, we are in a fortunate position especially when renting property on sites that we manage as well, of being both aware and able to ensure that the rules of the site in question are adhered to in our Tenancy rental agreements. This was highlighted last week when a Tenant that we had turned down for a property because we knew pets were not allowed, was moved in to the same site through a different Agent, but still with pet dog at heel!

Clarification.

 

Let me first of all clarify the situation regarding the owners of Leasehold property. In law, they are Tenants of the property but on a lease which normally lasts in the region of 90 plus years. Therefore, when they let a property, they are in effect sub-letting to a second Tenant on a short term lease, usually an assured shorthold agreement. The important part of this clarification is that the Leaseholder has an agreement, the Lease, which he must abide by. This Lease will confirm what is allowed and what is not allowed to happen on site through covenants included within the lease, from the basic permission for the Leaseholder to sub-let, to such items as the use of the Car Park, balconies, use of common areas and of course the all important item for this Blog, permission for pets to be kept on site or not as the case may be!

 

The rights of the Tenant.

 

What is important for the Leaseholder is the need for such covenants that impact on the second Tenant to be included in the shorthold agreement, so that they can be enforced. Fail to state in an agreement that all covenants included in the site lease apply and such covenants cannot be enforced. I have had situations before where a second Tenant stored a caravan on the car park, which was against the lease and as Block Managing Agent it was our role to enforce the covenant. Fortunately the Tenant was very understanding as they wanted to stay long term and found alternative storage for the caravan. If they had not, the guilty party would have been the Leaseholder, as it is their responsibility to ensure, if allowed to sub let, that the terms of the Lease are upheld.

 

Back to the Dog.

 

So now we are faced with a situation where a potential Tenant had been turned away from the site because they had a pet. Correct on our part, we manage the site, we are aware of the covenant. The person concerned, because he wanted to live on this particular site, followed up another flat available through a different agent and because they said nothing, has moved in to the flat with dog ensconced. Now it is our duty to inform the Leaseholder that they have moved a pet in too a flat against the lease and that they must enforce the provisions of the covenant and remove the pet.

 

Implications.

 

Of course, providing the agreement is the normal six month Assured Shorthold agreement, then notice can be given and the matter dealt with sooner rather than later, although the reaction of the Tenant may not be as understanding as we achieved with the Caravan. I cannot foresee him finding somebody else to look after the animal having engineered a situation where he achieved his initial objective.  For the Landlord, somewhere along the line, the potential of greater costs and or loss of rent will be significant. If I were him, then a discussion with the agent would be forthcoming, again, sooner rather than later.

 

Conclusion.

 

What should always happen on any leasehold site is the lease should be checked, or at least the question asked of the Landlord, what are the restrictive covenants for the site concerned? For the Tenant in such situations, whether carried out with knowledge or not (although some would say in this case the action as carried out with full knowledge that pets were not allowed because we had already informed him) there is the question of compensation for at least moving costs and / or the cost of dealing with whatever the implications are of complying with unknown covenants at the time of signing the secondary lease.  These could of course be significant depending upon the situation, but the bottom line is that as Leaseholder the fault lies with allowing the situation to develop without sufficient safeguards in place. The question that has to be asked is why was the Tenant moved in without the Agent giving the Landlord best advice? Probably a question the agent may find difficult to answer!

Tenant advice: High expectations and Ball gazing.

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By Steve Roulstone

 

Having been commentating on daily matters for two years now, you would think that I would have covered most things and indeed the subject of today’s post has been touched on before, but two situations that developed yesterday are both worthy of comment and one was a first for me!

 

Normal practise.

 

As Agents, we do everything possible to respond to repairs and breakdowns as soon as we possibly can, (or should I say as soon as our Contractors can) Not that some Tenants feel this is good enough, but we even advise Landlords who want their own contractors to deal with any issues surrounding their house, that unless they have worked for Letting Agents before, the only issue we are liable to have is the response time that our contractors understand we require. In reality though, we can of course only react to what we are told.

 

Phone call number 1 and 2.

 

Yesterday we received a call saying a heating system had stopped working and would we get somebody to sort it out. The answer was yes of course, but as we always do, we pointed out that should the problem be something like a dead battery or drop of pressure, because boiler instructions are always left at every house, it could be that any costs would be put to the Tenant. (Imagine if we did not and then told the Tenant they must pay) Contractor was arranged and before they arrived, we received a call saying the problem was resolved and we of course cancelled the call out.

 

Phone call number 3

 

We then received a call from the same Tenants partner suggesting that we should have allowed the call out to proceed because the heating still does not work and what were we doing cancelling the initial call out. We of course said because we were told too, and this Tenant then asked if we were blaming his partner for failing to repair the boiler!?

 

Star gazing.

 

The difficulty here apart from cancelling the initial call out, is the level of expectation from the Tenant. We would not wish to make any statement about where the fault lay, but the problem for the second Tenant was that we had cancelled the first call and could not arrange another visit on the same day, when his call was made at 4.45pm. It is of course unreasonable to have contractors standing ready to react. Like all Agents we build up relationships with our contractors, so they will react as quickly as they can for our Landlords, but nobody can reasonably expect to firstly carry on with the call when advised we need not and secondly get somebody to call that day with so little of it left!

 

Broken Lock.

 

The second instance was a Tenant who had both a locked door to her flat and a second external locked door to the outside. The door to the outside had a lock that failed, which resulted in a phone call to us about the lack of security. The problem here was that the call came on a Sunday evening and the door could still be locked by sliding the bolt. If a member of our staff had received the call, we would have said talk to the neighbour who shared the door and ensure all is safe until tomorrow, when we will get a contractor out. With a second lockable door that should have been sufficient.

 

Wrong number.

 

The problem arose when the Tenant phoned the emergency number they had been given when they moved in to the property, which we no longer relied upon, using our own staff to cover the phone for the last two years. We wrote to everybody at the time advising them to use the new number. The Tenant could not find the letter! The Contractor reasonably listening to a call from a single young Lady reacted and repaired the lock. The Landlord received an invoice for £65 and the Tenant had a good night’s sleep.

 

Who pays?

 

Technically we could have charged the Tenant, or refused the invoice from the contractor for reacting prior to instruction, but that would have upset somebody who reacted in good faith and is one of the people we do rely upon when true emergencies do occur. A no win situation for us, because from the Tenants point of view, she believed she was also asking the work to be completed and allowed the contractor to carry out the work in good faith! Luckily, the Landlord understood and accepted the charge.

 

Conclusion.

 

My conclusion is that no matter how hard we try, these things are going to continue to happen and Tenants will still feel they should receive a response when they wish and without delay. There are of course times when these matters are truly out of our hands such as unavailable parts. But we must keep plying our message taking every opportunity to explain the reality. That does not change my request, which would be that Tenants understand that they will receive a response that is quicker than most other scenarios and especially when compared to the average home owner requesting the same services.

 

Property Landlord advice: Things to consider when Buying to Let.

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By Steve Roulstone     

    

As the property market trundles on with its slow recovery, one thing that is noticeable is the increase in the number of people who are considering purchasing a property again for their rental market. In many cases this is existing Landlords who have property with us already and have arrived at the position where they have built a deposit to purchase another property, for as we all know, a significant deposit is now needed before a mortgage can be agreed. But we are also being asked by people looking to buy for the first time, as property becomes the preferred investment because of the lack of return from deposit accounts and the continued risk of traditional share investment markets.

Good planning.

I would have to say, that for those who chose tracker mortgages the current return from rental property has been significantly improved. Far from the reported problems that Landlords are supposed to be suffering when house prices dropped, good planning has led to an increase in revenue as the mortgages have dropped significantly. This has meant an opportunity, be it delayed as a sufficient deposit has been saved, for further purchases to be made and at a time, as I have reported recently, when property prices have started to grow again.

Sound advice.

But even for those who own property, it is always a good idea to discuss and visit the principles about what makes a good Buy to Let property again. This means that we are being asked to advice people more and more and we are always happy to do so. Our principal has always been good honest clear advise, even if it means saying no to a current opportunity, will in the long run, either when a potential Landlord returns or because of word of mouth that our advice can be trusted even when it does mean telling somebody that a property is not right for the rental market, will eventually pay off and at least we can sleep well at night!

 Points to consider.

So when considering property there are two areas that we believe should be considered in some cases even before you visit the property, so before a viewing is arranged, consider the following:

 Area concerned; Is it a popular area of the Town or City you are looking at. Or is the village on a sensible route.

Popularity of type of property; Is this the right property for the market. Flats or Family homes (such as three bed semi detached) are the common decision to be made and at times, depending on the size of available deposit, a careful look will be needed

Open to all markets; Such as is there a bath? Don’t forget that only having a shower will cut out everybody with small children.

Property facilities; Where are the local shops, bus routes, what are the standard of the local schools and where is the centre that people will head to for entertainment. This may not be important to you, but it will be for the Tenant.

Once inside.

The obvious consideration when you actual view the property is how much work has been done to the property and by whom? I have actually been in a property this week that has been altered beyond comparison from the original build, but by a builder owner and you can see the quality as soon a s you step inside. But be careful, I have also been in a property that a DIY enthusiast had left in such a poor state that three occupants could have been killed by fumes from the fire, electrocuted in a bath of water and by using too many appliances in a kitchen, and all the other occupants of the road would have known would have been a dimming of the lights!

List the advantages.

 Then most importantly, list all the good points. Do this when you are comparing property and you will find a decision can quite often be made for you! Garage or car-port? Drive or on road parking? En-suite or not? Conservatory or not? Low or high maintenance garden? One or two reception rooms? The property that ticks the right number of boxes will be the one that is more popular.

Good value.

This means that price is not the most important consideration, but when the bricks and mortar continue to be the main investment and the rent should serve to pay the rent and allow you to build up a maintenance reserve, that value will in the end remain constant and the property should produce less down time (between Tenants) and that of course, is what we as Agents strive to produce for all of our Landlords.

Why should a Landord use an Agent – Part 2

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By Mike Edwards

Part 2 of the top reasons why Landlords should choose a Letting Agent are included in this concluding post.

 

6.         They can often get you a better rent

Many letting agents are used by relocation agents and companies willing to pay high prices for the right property. Usually these companies will only use professional agents for sourcing property for their clients. This is because they are aware that they are going to get a consistent responce when being dealt with. Relocation is a part of the industry that is very specailaised and can be drawn out at times, especially when dealing with clients from abroad. They need to know they will be dealt with in a way that will not leave them sorting out issues that most Agents will already be aware of, such as type of agreement and security of deposit.

7.         They will get a proper inventory done and deal with the deposit for you

A really good inventory is absolutely essential nowadays if not the most important document involved and landlords who are taken to adjudication by their tenants will have little chance of winning without one. A good letting agency will often have staff specially trained to do this work and will usually be able to do a much better job than you can. There are also specialist software packages that are marketted at Agents and are sensibly only affordable by Letting Agents. There is also the advantage that if the matter ever does go to arbitration, the fact that the inventory was drafted up by an independent third party (your agent) will often mean that it is given greater weight by an adjudicator than one that was drafted up by you, the landlord. Your agent will also deal with protecting the deposit properly, making sure that all the proper information is given to the tenant within the time limits.

8.         They will deal with checking and referencing your tenant

A good agent will carefully screen and reference all prospective tenants as a matter of course. Not just by way of collecting letters, but through a professional Referencing body. This does not always mean that there are no problems later, but it certainly reduces the chances of this happening. It is a fact that those who have caused trouble in property before as a Tenant, know that they will not be able to pass a proper referencing investigation. Agents may also be able to recognise known bad tenants, and also recognise the signs of a bad or criminal tenant (for example one who is thinking of converting your property into a cannabis factory).

9.         They will deal with any problems that arise during the tenancy

There is a lot of work involved in renting property and it is not all just finding the tenant. Often problems arise at the property – for example minor repairs that need doing.  Tenants also sometimes lock themselves out and need helping. A good agent will also carry out regular inspections to make sure that the tenant is looking after the property properly and that all is well there. 

And finally:

 Finally of course there is the fact that most landlords really don’t want to be bothered with the tedious business of dealing with tenants, and agents take the burden of this away from them. A really good agent can be a blessing to a landlord. At the risk of being accused of agent bashing again, I do need to say here that not all agents are like this. I do feel strongly that agents SHOULD be regulated. If only for the benefit of all the good agents who inevitably, and most unfairly, get tainted by the press reports about the bad agents. The ones that don’t do their job properly and run off with all the money. 

Current Property News: EPC Regulations still being clarified.

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By Steve Roulstone

With the recent change in EPC regulations, we like many other Agents turned to our advisors and asked for clarification of what the changes meant and what was there considered practical way they could advise us to adopt the changes as required. The answer we received raised more questions than it answered and we were left none the wiser. It appear that the manner in which the changes have been introduced have left those who carry out the inspections at a quandary in understanding what is now required.

Agents requirements.

The main change for Letting Agents is to have the EPC available within seven days of the property being marketed. I am pleased to say that this was our own timetable anyway but always done with the knowledge that we had longer if the EPC was not forthcoming. No for us the clarity needs to be around what is meant by an electronic copy, when the report from the RLA states that the new format should be used after April 1st, but fails to say if this is ONLY for new EPC’s created rather than an updated version of the old certificate.

Words speak volumes.

 Some reports suggest that this is the case, but when you attempt to download EPC’s that are still current but were produced in the old format, they are still in the old format! So ‘the powers that be’ need to clarify for those concerned what they should or should not be doing. It becomes more of a problem when those that are supposed to be advising do not know themselves!

Simple guidelines.

At present we are ensuring we are operating in a manner best suited to the intent of these changes until we receive total clarity, which means we will avoid any unnecessary costly changes to our systems whilst still providing the information when requested and ensuring one is available without delay.

These guidelines will hopefully assist in the meantime:

1. When viewing a property ideally an EPC or at least the new front page should be “available”

2. Available means it can be in electronic format

3. An EPC MUST be commissioned immediately on marketing if existing one not available

4. Long as you can prove you have commissioned then for up to 7 days you can view and market without one. It is an offence but there is no penalty!! It is after 7 days that it becomes more serious

5. The eventual winning tenant MUST be given a copy of the full EPC when the contract starts i.e. at check-in.

Current Property News: Rightmove figures give insight for purchasers.

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By Steve Roulstone

In surfing the net for Current Property News, I note with interest two sets of figures that have been published this week. Firstly the Rightmove calculation of asking prices throughout the country and secondly The Average House guide published by the Office for National Statistics (ONS) Bothe offer many varied statistics, breaking down details by region and County as well as National.

Significance of the gap.

When you look at the two headline figures, it is quiet significant that the asking price on average across the Country is £20,000 higher than the actual selling price and with the push of the Rightmove report being that on average house prices are at an all time high again across the Country, it does look as if sellers, knowing they will get offers no matter how the word the price within sales particulars, are asking at a higher level and negotiating on average a 10% lower price than that asked for.

Significant difference.

But what is also apparent is that the difference in average prices between London and the rest of the Country is vast and still growing. Since the peak of 2008, prices in London have risen by 14.9% whereas prices in the rest of the UK have fallen by 4.3% during the same period. This such a significant swing that it does make the average figures somewhat irrelevant, but the regional figures given by Rightmove are very informative and definitely give significant information for those needing to track values across this time frame.

Solid information.

It is good for all interested parties to receive information both in this manner and broken down in to regional statistics that both reports give. For example I have a property myself that was initially marketed in late 2007, it is currently rented (no surprise there then!) but as the Tenant has asked about the opportunity to purchase, it is easy for me to work out what would be the current price using the averages published in these reports. Both parties can use then for the same reasons, definitely allowing initial conversations to take place without the expense or time needed to get the property re-valued.

Assistance.

I cannot see how this situation does anything but assist people by keeping them informed. For the professionals, some of the mystique of pricing houses is removed, giving the vendor and buyer better confidence in the asking price and indeed any offers made as well. A definite win – win situation and I applaud Rightmove in particular for the manner in which they present the information and make it easily available for all.

Look and you will find.

The only disappointment and yes there had to be one! Is that the BBC who I have oft criticised for the way in which they place a negative spin on anything to do with the housing market have chosen to scale down the amount of reporting now that the shock and horror of house prices falling has lessened and we have all learnt to live with what the market delivers? Like most, I see slow growth continuing which most commentators agree with. It seems the BBC is only happy to give more time to the housing market when it gives them the opportunity to report on bad news and it looks as though our market will continue to receive little air time from the BBC for the foreseeable future. Time will tell if I am right!