It was the first rise since October, and the average UK home is now worth £160,907. January's rise followed 1pc falls in both November and December. The survey came after stronger than expected January data from the services, manufacturing and construction sectors last week. However, despite the rise last month house prices were 1.6pc lower compared with January 2011, when the average price was £163,609.  For full report follow link to Telegraph website: http://www.telegraph.co.uk/finance/economics/houseprices/9064704/UK-house-prices-rise-in-January-Halifax-says.html

Canary Wharf Group (CWG) has paid £90m to Irish company Ballymore and British Waterways to buy out their 75pc stake in the Wood Wharf development. The semi-derelict Wood Wharf site has an outline planning consent for 1,600 new homes across six residential buildings as well as 3m sq ft of new office space, shops, a hotel, and a park.  For full report follow link to Telegraph website:

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9023224/Canary-Wharf-pays-90m-for-adjacent-site-to-expand-by-a-third.html

Investment volumes for 2011 grew 10pc on the previous year to £10.9bn as landmark buildings such as Tower 42 were acquired by foreign investors. A rush of deals worth £1.75bn were completed in the City in the final quarter of the year – despite the eurozone crisis worsening – as a wave of assets were put up for sale by Western institutions. For full report follow link to Telegraph website:

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9001158/West-End-and-City-become-safe-haven-for-property-investors.html

The average number of completed sales per surveyor in the three months to December was 15.2. While slightly down on November’s figure, this remains close to its best level since autumn 2010. However, sales expectations for the coming three months dipped to a net balance of 0% (from +4%). Surveyors report that unrealistic price expectations on the part of some vendors may be hindering transaction levels.  For full report follow link to RICS website:

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=728

The lease, which will launch in the new year, is a sector initiative from RICS and the British Retail Consortium (BRC) to simplify the leasing process for landlords and small business tenants. The lease will provide a simple, easy-to-use contract that will make clear to all parties the agreement they are entering into.  For full report follow link to RICS website:

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=720

Seven per cent more surveyors reported new buyer enquiries rose rather than fell during November. This was the third consecutive monthly increase for the series, which is a good indicator of buyer demand in the market. Although the pick-up in interest signalled by the results is still modest, this is the first time since the spring of 2010 that the series has been in positive territory for three months in a row. For full report follow link to RICS website:

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=719

Metropolis Surveyors, Openwork’s largest valuation business, will be the lead valuer in the proposition.  For further information follow links to FTadvisor or Mortgage Introducer website:

http://www.ftadviser.com/2011/11/25/ifa-industry/advisory-companies/openwork-launches-surveyor-service-4EQErC6J2jPNRukGLIyUvM/article.html

http://www.mortgageintroducer.com/ccstory/241903/5/ 

One per cent more chartered surveyors reported workloads fell rather than rose, the lowest reading since Q4 2010. Over half of all respondents reported no change in workloads from the previous quarter, as the industry continued to face difficulties. The main issues for surveyors are the increasingly uncertain economic outlook, the cutbacks in government’s capital spending programme and a continued lack of finance for development projects. Chartered surveyors report they are continuing to provide quotes for work, but many of these projects are not going ahead.  For report follow link to RICS website:

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=703

Metropolis Surveyors recognise the importance of improving valuer awareness of sustainable factors, especially in a residential market which will become increasingly sensitive to sustainable considerations in the future.  Our responsibility begins with ensuring all our surveyors are attentive to sustainable valuation and feel as an organisation this can help to add value to the service which we provide to our clients.  The paper is available for download to RICS members by following the link below:

http://www.rics.org/site/scripts/download_info.aspx?fileID=10453

Japanese Knotweed is an invasive plant feared for its damaging effects when found on or near a property but these fears are often based on misunderstanding. The plant became more of a problem when some lenders reviewed their policies and a number of loans on Japanese Knotweed affected properties were declined. This changed the status of Knotweed from a ‘difficult to solve’ problem to one that could result in property sales falling through. For full report follow link to RICS website:

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=696

The Metropolis team, along with sister company Temple Chambers can be found at stand d28 on the ground floor, where we will be available to discuss our business services as well as handing out free goodies.  We look forward to seeing you there!

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=685

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=677

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=659

http://www.rics.org/site/scripts/news_article.aspx?newsID=2447

The independent research, commissioned by RICS with the University of Westminster, compares the planning and delivery of the Games in London with the approach of other host cities in delivering regeneration associated with six previous major sporting events.

The report highlights London's focus on legacy from the outset as a key factor in planning for lasting benefit and the Games provide a unique opportunity to stimulate the regeneration of the heart of East London with the delivery of new homes and infrastructure on and around the site. Other regeneration initiatives nearby, such as Stratford City, are also vital in providing wider regeneration and opportunities for East Londoners.

Although the challenges of the global economic downturn impacted on private sector investment the commitment of Government and the involvement of the host boroughs and wider stakeholders have been crucial in bringing in this project, with a focus throughout on improving the lives and opportunities of East Londoners.

RICS hopes that the good practice shown in London will help those involved in planning major sporting events in future and highlights key elements that have helped make this project a success:

• The location of the Olympic Park has good transport to central London and this makes it a good candidate for regeneration
• Legacy planning has been a priority from the earliest stage in 2002 as set identified in the Select Committee report that set out the aims for London
• The involvement of a wide range of stakeholders was essential in planning legacy aims
• Government's support for regeneration and a lasting legacy has been unequivocal and this will be essential for the longer term regeneration in East London that will take many years
• Legacy aims built on strategic plans for London's future and were associated with existing regeneration projects

The focus has been on the transformation of East London beyond the Olympic Park, not just on the site.

Social and economic regeneration, will make a difference to the lives of East Londoners and are at the heart of the London Host Boroughs' convergence aims.

"The regeneration of East London around the Olympic Park has been a major success story. It now boasts some of the best transport links in the Capital, the biggest shopping centre in Europe and has brought thousands of jobs to the area. But there is still much more to come and its full impact won't be felt until the years after 2012. World class parks, sporting facilities and affordable housing will all benefit the lives of East Londoners in the future, leaving a real, local legacy. The project is a real triumph for both British construction and public sector management."

Delegates ranged from small financial services businesses to larger institutions, and is attended by anyone who is anyone in the Industry. Seminars covering a range of topics were held in the theatre, and this years speakers include members of AMI, FSA, Santander and many other notable industry commentators.

Speaking after the event, Jeff Wilson, Commercial Director for Metropolis said, " This is a major event, and one for Metropolis to show the Industry that we are not just a small survey company, but a business that can add value to both the professional contacts we have, and our clients. We have seen many people over the past 2 days, and see this is a superb opportunity to take the brand and the business to a wider market".

The excitement and eagerness of moving into your most prized asset is all too often “snatched” away from the buyer, when they move in and find the boiler doesn’t work, or the electrics are old and dated, and in some cases more sinister problems like woodworm or rot in either the loft or basement. Things that will not be picked up on a basic mortgage valuation report. Very soon “Home Sweet Home” becomes “House of Horrors”!

Despite the fact that these problems occur all too often, less than one in five buyers does little more than accept the basic Mortgage Valuation. 

When things go wrong and they do, the buyer’s recourse is to look to apportion blame, and this is often aimed at the Surveyor. However, although fully qualified and governed by a strict code of ethics and rules, the fact remains that if they have only been commissioned by the lender to carry out a Basic Valuation, they will not pick up all the problems. 

Lenders are now under increased obligations to recommend a more detailed report to buyers, and so are Solicitors under Law Society best practices. 

In many cases the lender will recommend you purchase the additional Housebuyer’s or Full Structural Survey alongside the Basic Valuation through their associated companies. Whilst there is nothing wrong with this, bear in mind that they are often more expensive than what you might be able to negotiate through your surveyor direct, or even your Mortgage Adviser, if they are independent of the lender. 

Surveyors  will speak in “plain English” and not use over jargonised terms when dealing with the public. In most instances you will be dealing with people who want to provide you with the best possible advice to make sure you can take comfort that the home of your dreams will not turn into the stuff of nightmares.

The Basic Mortgage Valuation is the start point and is really designed for Lenders to make a risk based decision on the property. 

A buyer should really look to the next 2 types of survey which is the intermediate report known as the Homebuyer’s Report, which has been designed by RICS (Royal Institute of Chartered Surveyors), and is built around a colour coded system to give you a simple and understandable report on your property. It is not as expensive as people think and is well worth the few hundred pounds it costs at the outset, than to find you have thousands of pounds of problems when you move in. 

The third option is the Full Structural Report which is a very comprehensive report and is especially useful for unusual, old or significantly altered properties, and should always be considered if you are thinking of buying this type of property. 

If you contact your surveyor, make sure they are RICS and try to negotiate the fee with them, after all it is your money. 

Full details of the schemes can be found on our website or call Metropolis Surveyors on 0844 8800968, where our friendly staff can discuss your options and the schemes in more details. 

Good luck, and good house hunting!!!!!

Metropolis surveyors, part of the Kings Group, had the privilege of attending the Openwork Conference held at the Birmingham International Conference Centre (ICC). Openwork is the 3^rd largest Mortgage Network in the United Kingdom. The annual conference was attended by over 2000 advisors and businesses.

Openwork is supported by all major lenders, investment, pension and protection providers. The Openwork conference was hosted by Lenny Henry with key note speakers James Caan and Daley Thompson.  

Metropolis Surveyors attended the conference to offer and discuss the services available to Mortgage Brokers and Advisors and their clients. This enables the team at Metropolis surveyors to engage directly with mortgage and financial advisors to effectively discuss the benefits of using Metropolis Surveyors to assist their clients with the buying process.     

Through out the course of the day, they discussed with the brokers how they need to treat their customers fairly by explaining the benefits of using metropolis surveyors to conduct Homebuyers and building surveys.

Metropolis surveyors pride theirselves on providing an excellent service and this in turn keeps the advisors and their clients informed throughout the process.

Overall they had excellent feedback from the conference and as a result, plan to schedule many more through out the course of the year all over the United Kingdom.

For more information on Metropolis products and services, or if you want to know more about the survey process, contact them on 0844 8800 968 or info@metropolis-surveyors.com, or visit our website at www.metropolis-surveyors.com