Northwest

Retiring? Downsizing? Moving Closer to Family?

The County Homesearch Company specialises in finding dream homes for clients just like you across the country. Acting in the interests of the buyer, unlike estate agents who act for the vendor, they lend their local knowledge and expertise to a search for a home and provide help on a practical and emotional level – sifting out unsuitable properties and helping you achieve what you want from your new life.

Lisa Green, Director of The County Homesearch Company in the north-west, explains how the company is developing services to meet increasing demand from older clients who may no longer find rural life practical, find themselves in a large property that no longer suits them, want to move closer to family, or are simply daunted by the thought of moving house.

“Take two of our current clients for example. Having retired to Snowdonia 16 years ago and completed an award winning conversion of an old school, they know that a location over 6 miles from the nearest town won’t be practical for them for much longer. But now in their late 80s, the prospect of selling up, travelling to view properties, moving and starting afresh in a new town was quite off-putting. Instead, they instructed Lisa to do the hard work for them and to find their perfect property in one of Cheshire’s many market towns and larger villages. With children, grandchildren and great-grandchildren who visit from across the UK and the US, they were also adamant that they didn’t want to downsize to a typical elderly persons bungalow or apartment. So, once they have sold their current property, “Yr Hen Ysgol” (below), moving to another in a more accessible location is their top priority.

For another couple from the south coast, downsizing and releasing equity from a property is the beginning of an exciting new chapter in life closer to their daughter and her family in Cheshire.

Once we have found the right property our clients really appreciate the way we manage the entire process from price negotiations through the move itself, helping them settle-in and even sorting out those essential admin tasks. We can even bring in the relevant expertise to advise on domestic or domiciliary care if required”

Source: Retired and Living In Magazine March 2012

NW House Price Winners & Losers for 2011

As the Land Registry publishes its final house price index for 2011, we look at the best and worst performing areas across North-West England and North Wales. 

At the end of 2011, the annual change in the price of houses sold across England and Wales stood at -1.3%.  In the north-west the overall figure is -3.4% but that masks some quite significant local variations from -0.4% to -10.7%.    The best and worst performing areas in the region over the past year are listed below:

Best Performers during 2011

Knowsley -0.4%

St Helens -1.4%

Bolton -1.8%

Trafford -1.9%

Conwy -2.2%

Worst Performers During 2011

Oldham -10.7%

Liverpool -9.6%

Salford -9.3%

Blackpool -7.7%

Denbighshire -7.6%

Halton -7.4%

Liverpool top of Buy-to-Let league

New research from the property website Zoopla.co.uk shows the best cities for rental returns are across the north of England.  Top of the list is Liverpool where buy to let properties are achieving 6.6% yields (the annual income that can be earned on a property as a percentage of its value). This compares well to similar properties in London or the South East where under 5% is more typical.  And it’s not just the buoyant student rental market that’s driving the high returns as Cambridge demonstrates at the bottom end of the table with average yields of only 4.3%.

There are two main factors to look for when considering a buy to let investment.  Obviously rental demand is one, whether it comes from students, first time buyers unable to secure a mortgage, families in between homes or companies seeking corporate lets.  In Liverpool, one local agent estimates that demand for available rental property outstrips supply buy 5 to 1.  That certainly reflects our recent experience sourcing properties for clients in the city but, as the dynamics will vary from location to location, it is important to understand each local market. 

The other side of the equation is the purchase price of the property.  Areas that have seen larger falls in house prices or where more homeowners are struggling with mortgage repayments can provide the best opportunities for the buy-to let investor. 

Locations like Liverpool that can offer the ideal combination of high demand and relatively low property prices should remain a relatively good bet for some time to come.

Six of the Top 10 most viewed properties this year are in the North West

With the property portal Rightmove now the seventh busiest website in Britain, it looks as though the downturn in the property market has done little to dampen the nation’s enthusiasm for viewing prestige properties. The difference now is that we can simply go online to have a look around the homes of the rich and famous.

Figures just released by Rightmove for the top 10 most viewed properties since January 2011 show 5 of the 10 as properties are in Cheshire with another in Manchester. 

Asking prices for the properties in question range from £2.25m to £7.95m. 

With the total number of hits to each of their websites ranging from 61,368 to 92,815, yet 5 out of the 6 still being for sale, I’m sure there is many an estate agent who wishes they’d managed to get even a small proportion of them through the door!

But as the list includes pop star Gary Barlow’s former home in Cuddington, the house that was once a home to the Beckhams in Nether Alderley and also current Everton captain, Gary Neville’s apartment in Manchester’s Beetham Tower; it suggests that the level of interest might well have more to do with another national obsession with celebrity lifestyles than serious property buying!

The full top 10 is as follows:

Source: Rightmove / Sunday Times 27 November 2011

ETIHAD ANNOUNCE NEW JOBS AND MORE FLIGHTS OUT OF MANCHESTER

Speaking at the North of England Excellence Awards last night, James Hogan, boss of  airline Etihad outlined his plans for expansion at Manchester Airport.  He sees Manchester as one of the airline’s anchor sites along with Sydney and New York to connect with destinations in the Middle East, South East Asia, Australasia and China.

Manchester was also successful in securing the airline’s investment in its European call centre, due to open in 2012 and creating 160 jobs.

The airline’s relationship with Manchester includes a 10 year sponsorship deal with Manchester City FC to help fund an 80 acre training facility, offices and a 7,000 seater stadium and to promote the airline’s brand around the world.

Mr Hogan said Manchester was one of the first destinations Etihad considered when it launced 8 years ago because of its strong business base of businesses that export and also its ethnic mix of travellers.  Flying to 72 destination worldwide, business travel currently accounts for about 1/3 of its traffic with the rest made up of leisure travellers.

For the full article in the Manchester Evening News see http://menmedia.co.uk/manchestereveningnews/news/business/s/1464814_etihad-hope-to-create-hundreds-of-jobs-in-manchester-?newsletter=business%2520bulletin-20111111

Chocolate Heaven for The Chester Grosvenor Hotel

Plans have been unveiled for a multi-million pound revamp of the 5 star Chester Grosvenor Hotel in January 2012.  The hotel will be closed for 2 weeks while the transformation takes place.  Part of the renovation will see luxury British chocolatier Rococo open its first shop outside London at the entrance to the hotel.  The chocolate will also be used across the hotel in chocolate-infused dishes in the Michelin starred Simon Radley Restaurant and in hot chocolate served in La Brasserie.  The move by Rococo has been heralded as a massive vote of confidence in Chester and its luxury brand market.

North West shows highest monthly house price rise during September

With a small increase of 1% in sold prices in the region during September, the north-west demonstrated the highest monthly house price rise across the country.  However the trend over the past 12 months is still downwards with an annual change of -2.7%; more or less in line with the national average of -2.6%.

According to the Land Registry, the average price of a house in the north-west in September was £115,057 compared with a national average of £162,109.

There are however wide local variations.  The biggest gainers during September were on the Isle of Anglesey* and Knowsley where prices rose by 2.4%.  

Over the past 12 months the largest (although still relatively small) gains have been made in Manchester (+1.9%), Trafford (+0.9%), Conwy (+0.5%), Wirral (+0.3%) and Flintshire (+0.1%). 

Unfortunately the relative success of Manchester and Trafford over the past year has not been shared with their Greater Manchester neighbours.  Over the same period, home owners in Oldham have seen prices fall by 11%, with those in Rochdale, Bury and Wigan not far behind with -8.4%, -8.2% and -7.3% respectively; although some have shown monthly improvements more recently.  Further north into Lancashire, the seaside resort of Blackpool has seen prices slump by 8.2% over the past year.

Source: Land Registry House Price Index 28/10/11

* Anglesey typically has low transaction volumes so price volatility can be greater

6 North West Restaurants in Sunday Times Food List Top 50

Earlier this year Sunday Times readers in conjunction with Harden’s restaurant guides were asked to rate and review the food, ambience and service of the establishments they had visited in the past 12 months.  From over 80,000 reports, six of the north-west top restaurants featured in the top 50 across the nation.  These are

L’Enclume, Cartmel, Cumbria (No.16)

Simon Radley at the Chester Grosvenor (No.22)

Northcote, Langho, Lancashire (No.30)

Sharrow Bay, Ullswater, Cumbria (No. 35)

Holbeck Ghyll, Windermere, Cumbria (No. 41)

Fraiche, Oxton, Wirral (No. 46)

Also included in the top 100 were Ramsons at Ramsbottom, Aumbry and Michael Caines in Manchester, Hipping Hall in Kirby Lonsdale and, just across the border into North Wales, the Tyddyn Llan at Landrillo.

Escape from the Country?

(From Cheshire Life September 2011)

Many of us dream of that idyllic retirement in the country with peace and quiet and walks on the doorstep. Yet with people now living longer and many rural services having declined or disappeared, The County Homesearch Company is seeing an increasing number of enquiries from clients wishing to return to somewhere where they have easier access to shops, services and transport. 

 Lisa Green, Director of The County Homesearch Company in the north-west, explains how the company is developing its services to meet the demand from elderly clients who no longer find rural life practical, find themselves in a property that no longer suits their needs, or are simply daunted by the prospect of moving house.

Take two of our current clients for example.  Having retired to Snowdonia 16 years ago and completed an award winning conversion of an old school, they know that a location over 6 miles from the nearest town, supermarket or post office won’t be practical for them for very much longer.  But now in their late 80s, the prospect of selling up, travelling to view properties, moving and starting afresh in a new town was quite off-putting.  Then, having read an article in the national press explaining the benefits of using a buyer’s agent, they decided to instruct Lisa to do the hard work for them and to find their perfect property in one of Cheshire or north Shropshire’s many market towns and larger villages.   With children, grandchildren and great-grandchildren who visit from across the UK and the US, they were also adamant that they didn’t want to downsize to a typical elderly persons bungalow or apartment.  So, once they have sold their current property; Yr Hen Ysgol (below), finding another with character in an accessible location is key.

Based on this experience and similar requests to other County Homesearch Offices around the UK, the company has developed a wider range of support to help clients before, during and after their move.  Services are tailored to individual needs, explains Lisa, but can include our “xsellhomes” service to present an existing property for sale, instructing estate agents, financial advice, viewing and short-listing properties, escorted viewings, negotiation, storage and removals, utility setup and even those tedious admin tasks when you move into your new home.  We can also bring in the relevant expertise to help secure appropriate residential care if required.

For more information about any County Homesearch Company services or Yr Hen Ysgol please contact Lisa Green on 01829 270160 or e-mail northwest@county-homesearch.com

North West Buy-To-Let Yields Highest in England & Wales

The latest LSL buy-to-let index for July 2011 confirms our view that the north-west represents excellent value for those looking for investment properties in the area.  With yields now at 6.9% (up from 6.3% a year ago) the region now offers the best returns in England and Wales.

With industry advice considering a 5% yield to be the minimum required to break even once maintenance, service charges, management fees and tax are taken into account, the figures above clearly indicate that northern regions currently have the potential to provide the best returns

 With lenders now returning to the Buy-to-Let market and demand for rental properties continuing to rise – particularly as first time buyers struggle to get mortgages – the conditions are right to consider that investment in the north-west.