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Rescooped by Barbara Lowe Barker from The Property Voice
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House prices set to rise further in 2014

House prices set to rise further in 2014 | real estate | Scoop.it
2014 won't be an easy time for first time buyers as forecasters predict price rises of 10 per cent in 2014.

Via Richard W J Brown
Barbara Lowe Barker's insight:

It's true, they only rose in 2013 and set to rise more in 2014. No more kicking tires, time to make a decision!  Remember: buy low, sell high. 

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Richard W J Brown's curator insight, December 20, 2013 9:07 AM

 

The only way is up!

 

‘Tis the season of good will to all property investors and so it is also the season of property predictions too!  I am not big on predictions myself but one thing I do predict is that there will be a lot of predictions at this time of year ;)

 

I am going to link in to several more later in today's feature, so you can feast your eyes on how many are expecting property prices to up in 2014.  Most are up and the range that I have seen is 4-10% so far.  

 

However, if you are into ‘contrarian investing’ then is now a good time to buy?  Should we be following the herd and flocking to the market to get our hands on more properties before they get too far out of reach? 

 

Well, to answer this rather depends upon our investment strategy and attitude.  Those in it for the long-term will be continuing with their 'pound cost averaging approach' and buying through the highs and the lows adopting common principles of buying good, solid yielding assets in decent locations.  Some may even look to halt investing during an up cycle and hold off until the next down cycle to buy closer to the bottom rather than closer to the top.  The speculators will be rushing in...But will they find gold?  How far away are we from another bust...economic indicators suggest a few years yet; so maybe we are good for a while unless we get unemployment down super-fast and see a return to higher interest rates sooner rather than later.  But what about political uncertainty - we will have a general election in a couple of years and Help to Buy is due to end just after then anyway.  What about housing supply - will this pick up sufficiently fast to satisfy demand?

 

So many questions here I know and so this means there will always be uncertainty and doubt that could get in our way.  So, what is the best solution – I say: stick to sound investment principles, look to the long-term to smooth out the vagaries of the market cycles and all should be well in the end!

 

Now some of this other links on price predictions I mentioned if you are interested:

 

RICS 8% rise: http://www.rentguard.co.uk/news/latest-news/2013/12/20/house-prices-in-2014-predicted-to-increase-by-8/

 

Rightmove 8% rise: http://www.yourwealth.co.uk/news/2013/12/house-prices-could-increase-by-8-according-to-rightmove-1872

 

Savills and others talk prices and other predicted trends: http://www.thisismoney.co.uk/money/mortgageshome/article-2526916/Whats-store-UK-property-market-2014.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

 

But here is one article that should make us at least a little twitchy - it suggests that rental affordability is being stretched due to wage growth being sluggish: http://www.telegraph.co.uk/finance/personalfinance/houseprices/10529725/Rents-rise-twice-as-fast-as-wages.html

let us not forget that there is no point in having a rising capital value asset if we have an empty property or non-paying tenant - that always has to be our foundation - getting the rent paid!

 

And on that bombshell in true Top Gear style – thank you very much for following my ramblings this year, have a great Christmas and see you next year! 

Rescooped by Barbara Lowe Barker from Real Estate Plus+ Daily News
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Top 10 U.S. cities for Chinese homebuyers

Top 10 U.S. cities for Chinese homebuyers | real estate | Scoop.it
Chinese buyers purchased $8.2 billion worth of U.S. property in 2012, according to Juwai, which ranked cities by how many searches they attracted from Chinese house hunters.

Via Russ Bergeron
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Rescooped by Barbara Lowe Barker from The Property Voice
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10 worst mistakes made by amateur property developers - Telegraph

10 worst mistakes made by amateur property developers  - Telegraph | real estate | Scoop.it
From cheap wood flooring to lavish marble bathrooms, we list the errors made by amateur property pundits as they attempt to turn a quick profit

Via Richard W J Brown
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Richard W J Brown's curator insight, December 5, 2013 7:55 AM

 

‘Regrets, I've had a few 
But then again, too few to mention 
I did what I had to do , I saw it through without exemption 
I planned each charted course, each careful step along the highway 
And more, much more than this, I did it my way’

 

This is a good warning to all of us about what can potentially go wrong with a property investment project - mainly aimed at buy-to-sell projects but some are definitely equally applicable to buy-to-let, such as picking the right area.

 

So have I made some of these mistakes? Yep, you better believe that I have!  But do I have regrets as the song goes? Well, no not really to be honest.  The reason why I don't have regrets is that I try and see each mistake if you want to call it that as a lesson to learn and grow and craft my trade - to become wiser than I was before.

 

So, when I undertook a PRC structural conversion project that was supposed to take 6 months, I thought I was being smart by building in another six months 'slippage' into the project timetable - the numbers still worked.  However, the project actually took 18 months to complete in the end!!  Oh dear, this could have been a disaster, particularly as I was using expensive bridging finance to fund the project!  But fortunately, even with a year's delay the project turned out OK in the end - the reason being that not only had I built in some extra fat into my timescales but I had done the same with the costs and end valuation also.  So with an on budget works cost and a higher than planned end valuation this helped to offset the additional costs of the longer project duration.

 

So, in conclusion - whilst I did make some mistakes, I had in fact built in some scope to absorb some of this pain by having a conservative plan in the first place and of course I am now more aware of the risks involved in a major structural project than I was before, which all adds to my experience for the next one.  Luck did still play its part as well, so we all need a bit of it at times to be successful but as they say...we make our own luck and by working hard, planning ahead, researching, learning and repeated practicing as we go...we do seem to get luckier :)