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Alexander & Payne are pleased to announce a brand new website to be launched on Friday 21st May 2010.

In the meantime full property details are available here

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New research has shown that housing affordability has remained at a seven-year high, despite the rising cost of property during 2009.

Slight increases in average earnings, combined with falling mortgage rates, helped to offset the price rises seen last year, to leave housing affordability at its highest level since 2003, according to property website Zoopla.co.uk.

The group said 58% of properties in the UK were currently affordable for someone on average local earnings, based on people spending up to a third of their pay on mortgage repayments. This compares with affordability levels of just 34% when property prices peaked in 2007.

Unsurprisingly, affordability levels vary greatly across the country, with homes typically more affordable in the north than in the south, despite the higher income levels of people working in the south.

Bradford is the UK’s most affordable city, with people on local earnings able to buy 82% of homes in the area, followed by Hull at 81%, Stoke-on-Trent at 80% and Birmingham and Coventry, both at 78%.

Housing in London is the least affordable in the country, with only 32% of people on local salaries able to afford to buy in the capital.

Affordability is also stretched in Southampton, where only 44% of people can afford to buy, followed by Bristol at 53%, Norwich at 58% and Leicester at 59%.

Piggy BankNicholas Leeming, commercial director of Zoopla.co.uk, said: “Affordability rates have improved substantially over the past couple of years as a result of lower mortgage rates and falling house prices that have now begun to stabilise.”

Meanwhile, separate research showed that people could save an average of up to £243 per month on mortgage costs by buying a property further away from their local town or city centre and commuting to work.

Property search engine Gartoo.co.uk said someone working in Newcastle upon Tyne who bought a three-bedroom home would be £243 a month better off if they purchased a property in Walkergate rather than Newcastle and had a 12 minute commute each day.

Source: http://www.zoopla.co.uk

10 Tips on How to Save For Your First HouseBuying your first home might seem like a pipe dream to some. The truth is that you can, with a little planning and persistence, save up enough money top put down as a deposit towards your first property. Here are some tips on how to do just that:

1. Set a Goal

Ask yourself how much money you want saved up on a certain date and work towards that number. It is likely that there will be some months that you might not be able to save as much as you want, but it is good to have some kind of goal. Remember that the more money you save the more buying power you will have. Read the rest of this entry »

A house made up of £20 notesMortgage availability for homebuyers has improved over the past month, according to figures from the financial information service Moneyfacts.

At the start of March there were 1,798 mortgage deals available which required deposits of between 0% and 40%. That was 6% more availability than a month ago and 68% more than a year ago.

There are still very few mortgages available with just 0% or 5% deposits, but there are now 489 deals that ask for 10% or 15% down-payments. That is 90% more than a year ago when there were just 258 such loans on the market. Read the rest of this entry »

Land at Cutthroat Lane Yaxham with Planning Permission for Stables Don’t miss this rare opportunity to acquire a plot of land in a rural setting on the edge of the village of Yaxham, near Dereham, Norfolk. The 7 Acre (stms) plot offers full planning permission granted for a large stable block with stores, covered muck store, W.C. facilities etc. Further details can be found here

Alexander and Payne for sale boardHouse sales activity sprang back to life in February, says boards firm Agency Express.

Far more For Sale boards converted to Sold, and more new For Sale boards were erected compared with January, says the firm.

Nationally, the number of houses sold last month rocketed by 136%, going by new Sold boards. This was more than double the sales achieved in January, and the highest level of sales achieved since March 2008. Read the rest of this entry »

According to the latest research by Connells Survey and Valuation, the housing market renewed its pace of recovery in February after subdued growth in January, with the number of valuations on residential housing growing by 61%.

The positive trend of year-on-year increases also continued, with the number of valuations conducted in February up by 22% on the number a year ago. Activity has now grown year-on-year for 6 months in a row. Read the rest of this entry »

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Mattishall
Mattishall Office
9, Dereham Road, Mattishall

01362 858833