Bad news for the property market, this has all we have heard over the last three weeks, doom and gloom, scaremongering and negativity. It seems all the media are trying to talk the country in to a property recession.

Is it all bed news ? Yes and No seems to be my thoughts, although the sales market has seriously cooled I strongly believe that we live in a great area that should remain unaffected by negative prices and if you have a good house to sell and the valuation is right you will still be moving

What effect does the credit crunch have on the property market ? For us working in property it is and will be affected by the mortgage lending situation. Most lenders now are tightening their belts and do not want to lend unless you have a much larger deposit than we have previously known. This simply means less people can move thus slowing down the market. Mortgage lenders are not even passing on interest rate reductions, our current labour government need to be much more pro-active in making sure interest rate cuts are passed on. Gordon Brown be aware the public are sure to be looking to your government for more support.

How is the rental market ? Lettings remain on target to see a 20% growth this year, without doubt this area is seeing more and more demand, we have less tenants than ever moving out of property so we can report good news in this sector.

There will be interesting times ahead, some agents will be feeling the pinch, especially those relying on sales only. In this market the experienced agents are likely to prevail and remain strong, I am certain there will be opportunities ahead for those still willing to invest in the housing market, all will be revealed over the next 12 - 18 months.     Richard

Richard and Tony are pleased to announce the arrival of Gary Cooper at Hoddesdon Office. Gary brings over 25 years of local property experience with him and will be partner in our Estate Agency division.

We welcome Gary on board and look forward to a long and successful partnership. We will be launching brand new advertising and boards this month. If you have a local property to sell and are looking for a modern and upmarket approach please contact Gary on 01992 470335 or gary@anthonydavies24.co.uk  

Otherwise know as HIPS were introduced by the government in the summer of 2007, compulsory initially for houses with 4+ bedrooms and now including houses with 3+ bedrooms.

It is now necessary to compile the Home Information Pack when you want to put your 3+ bedroom house on the market for sale. It comprises of obtaining initial searches for the house and obtaining an energy efficiency rating for the property. A property can only be listed for sale with evidence the Home Information Pack has been applied for.

The cost is usually £ 300- £ 400 ( plus vat ), this can vary between the provider you choose and the Estate Agency you are listing with. We have access to several providers and have been using  local solicitors Breeze and Wyles who can compile the HIP with prices from £ 279 plus Vat ( if you use their conveyancing services for the sale of the property ) or £ 379 plus vat if using an alternative solicitor.

It is expected that Home Information Packs will be extended to the whole of the market and all properties in from 14th December 2007In all honesty the impact of providing a HIP has not been as controversial as first thought within the industry. It remains to be seen whether the actual process of buying a property will be speeded up and of course there will be probably less properties coming on to the market, thus keeping supply low whilst demand is still high. Will house prices be sustainable in 2008 ? that remains to be seen but personally I think they will remain level for some time yet…….. Rich