Tag Archives: london
UK estate agents say controversial fracking plans already affecting home sales
Estate agents operating close to potential fracking sites in the UK are warning that the controversial technique is likely to wipe tens of thousands of pounds off the values of nearby properties. It could also make homes harder to sell with agents in areas already targeted by fracking companies reporting concerns from prospective buyers over looming shale developments, with some sales already falling through as a result. The findings from a survey of estate agents conducted by leading marketing research agency Redshift and for environmental campaigners Greenpeace UK in three key areas where energy firms are planning to carry out fracking in West Sussex, Manchester, and Lancashire, shows that 67% believe fracking could bring down prices. A majority of them estimate the loss in value could be up to 11% with two agents putting it as high as 41% to 70%. With the price of the average house in the UK estimated at £272,000, even just a 10% drop in value could translate into a loss of tens of thousands of pounds. Some 54% said they are concerned fracking could reduce property sales near potential sites. Most of those who say they’re concerned believe more than one in 10 purchases could be affected, with nine dealers putting the estimate as high as 25 to 50% of all sales. One in four respondents also say home buyers have expressed concerns about the prospect of fracking in the area, with four estate agents reporting some customers have pulled out as a result. The Department for Energy and Climate Change is expected to auction off licence blocks to fracking firms over an area covering more than half of Britain in the coming months. The government has previously stated there’s no evidence that fracking will affect house prices. But three quarters of the estate agents said fracking should not be permitted until more research is done. James Nisbet, who lives a few hundred metres from one of the Lancashire sites says a few potential buyers have pulled out of purchasing his £375,000 house after learning about the looming energy development. ‘We have had six viewings so far, all with very positive feedback, but no one wants to commit to buying with the fracking shadow hanging over us. I’ve been hearing the same story from quite a few people in the area. We have lived here for 15 years. I really like this place and I don’t want to move, but I also don’t particularly wish to stick around to see what fracking will do to this community,’ he said. Paula Higgins, chief executive of the Home Owners Alliance, said it is worrying that homeowners who happen to live in fracking zones are being kept in the dark on how fracking will affect them. ‘Some are already starting to bear the brunt through aborted… Continue reading
UK property redress scheme for lettings dealing with increased number of complaints
The UK’s Property Redress Scheme (PRS) has now processed its hundredth complaint six months since it became mandatory that all lettings and property management agents join a consumer scheme. The PRS is one of three consumer redress schemes authorised by the Department for Communities and Local Government (DCLG) and National Trading Standards whose role it is to provide fair and reasonable resolutions to disputes between members of the public and property agents. Since the October deadline last year, the PRS team have seen complaint numbers increase daily as awareness of the scheme becomes more widespread. Certain patterns are already emerging that indicate that agents should be consciously aware of documentation and communication. The PRS says that clear and unambiguous documents, in particular those that relate to terms and conditions, charges and management agreements, are essential to ensure that the customer is fully protected. This also protects the agent, defines the business relationship and manages customer expectations. Communication is also essential and agents should ensure that they do everything to keep the channels open even when the relationship is breaking down. Not doing so inevitably leads to the situation deteriorating and by the time of scheme involvement, the consequences have moved far beyond the initial dissatisfaction. ‘Agents should not assume the customer is trying it on, is wasting your time or will go away if you refuse to engage with them. Treat the complaint seriously and professionally and above all learn from your mistakes,’ said Sean Hooker, head of redress for the PRS. With this in mind, the PRS have begun to build up the resources pages on its website to help educate and support agent members. It has seen nearly 3,400 agent offices register with the scheme. But it points out that although membership numbers and consumer awareness has been positive, there is still further work to be done. The PRS would like to encourage agent organisations and landlord groups to continue to spread the word about redress schemes and report agents that have failed to comply. ‘It is still, in my view, the duty of the industry to help police this legislation. There are a number of agents out there who either through ignorance or wilful defiance have not signed up to a scheme. We are therefore working with local authorities to ensure the law is enforced as vigorously as possible and consumers remain protected,’ added Hooker. Continue reading
UK home owners admit to abandoning DIY projects
More than a third of home owners in the UK have abandoned a DIY project after starting, according to new research. Some 38% of home owners have embarked on a DIY project but not completed it, and a further 10% have bought the necessary equipment but never even started the job, a survey for Halifax Home Insurance shows. The research suggests a lack of confidence in skills could be to blame as 21% admit they can’t change a light bulb, while 58% would not know how to put up shelves and 27% are not confident enough to paint their own home. This may be due to a past bad experience, as 29% admitted to a previous DIY botch, highlighting the need for adequate home insurance including accidental damage cover in case things go wrong. Last year alone, Halifax Home Insurance recorded over 16,500 accidental damage claims, which included DIY related incidents such as spilling paint or drilling through pipes. In total the insurer paid out more than £9 million for accidental damage, costing an average of £565 per claim. Regionally, home owners in Yorkshire and the West Midlands were the biggest botchers, with 33% admitting to a DIY mishap, compared to 23% in Wales. Some 70% said they did DIY to save money, 56% because they enjoy it and 10% because they don’t know any good tradesmen. Halifax Home Insurance said home owners should call a professional for jobs involving gas, electrical or plumbing work. When choosing a tradesman, people should ask for references and certificates to demonstrate that they are competent They should also contact their insurer if any work is being carried out which may alter the structure or layout of the home such as an extension or garage, and should check if major building works needs planning permission. Accidental damage to some parts of the home such as sinks, baths and ceramic hobs is included in many home insurance policies, but common DIY mishaps such as spilling paint, drilling through pipes, or putting feet through ceilings may not. ‘Even with the best intentions things can go wrong, which is why checking that you have the right level of buildings and contents cover can provide extra peace of mind,’ said Martyn Foulds, senior claims manager, Halifax Home Insurance. ‘For more specialist jobs involving gas, electrical, plumbing or structural work, it’s essential to call a qualified expert, or homeowners risk invalidating their home insurance policy, not to mention possibly putting themselves and others at risk,’ he pointed out. Continue reading
