Northampton

[TheCountOfNowhere]

http://www.rightmove.co.uk/viewdetails-186...=1&tr_t=buy

23 July 2008 Price changed: from '£134,995' to '£129,995

Looks okay. Tint tho:

Bedroom 1:

Bedroom 2:

Reception 1:

Kitchen:

14'0 x 10'8

10'6 x 9'1

10'5 x 10'5

19'0 x 10'5

I'd not want to pay 130K for it, 60K starter home perhaps.

[HouseDog]

http://www.northamptonchron.co.uk/news/Chr...d-be.4348878.jp [1st August 08 ]

Chron printing press could be closed

The printing press at the Chronicle & Echo building in Northampton could close as part of restructuring proposals.

A number of jobs are at risk at the press, which prints the Chron and sister paper, the Evening Telegraph, based in Kettering.

All staff at the Upper Mounts site were informed of the proposal at a series of meetings and full consultations will be carried out with those affected.

The announcement was made by Northamptonshire Web, which is part of Johnston Press, also the owners of the Chron.

The proposal would result in the Chron and its sister publications being printed at another of the company's presses in Peterborough.

At the same time, Northamptonshire Newspapers, publisher of the Chronicle & Echo and Evening Telegraph, announced a proposal to restructure a number of departments within the company.

Simon Kennedy, general manager of Northamptonshire Newspapers, said: "As well as enabling efficiency gains to be realised across the group, these proposals also mark a significant strategic shift in our publishing strategy.

"The company remains totally committed to providing readers with highly relevant local content, delivered in a range of print and digital formats, when and where they want it, and these proposals are consistent with this objective.

"In the event that the proposals go ahead, we will try to minimise the impact through voluntary redundancy and redeployment to alternative positions," he added.

A decision will be made on August 29 after consultation ends.

The printing press in Upper Mounts is used by 39 other Johnston Press titles, printing more than one million copies a week.

------------------------------------------------------------------------------

If the Chron's Property Today Supplement is anything to go by - then advertising revenues must be falling.

[Executive Sadman]

Obviously flipping houses is not dead yet...this is the one that went to auction a number of weeks ago and sold for £142k...guess the new owner is banking on a 20k profit. To be fair this is how i imagined the crash playing out, mortgage holders in negative equity too stubborn to sell, getting repossesed, lenders going to auction at significantly lower prices to cash buyers, and then finding their way back to the mainstream market at a price in between - the exact same house next door was up at 230k! Doubt theyre too happy at the pricing, particularly as they paid 225k a year ago. Though i cant find it, maybe theyre giving up trying to sell.

http://www.rightmove.co.uk/viewdetails-107...=4&tr_t=buy

[pablopatito]

Obviously flipping houses is not dead yet...this is the one that went to auction a number of weeks ago and sold for £142k...guess the new owner is banking on a 20k profit.

I can't see the figures adding up, once you take into account the time it will take to sell, the likely depreciation whilst its on the market, stamp duty, capital gains tax, solicitors, estate agent fees etc etc. Looks way too risky to me. I'd sooner put my £142k cash in Northern Rock for 6 months than wait for that to complete.

Edited August 1, 2008 by pablopatito

[gasket37]

there is a 'property today' supplement in the chron. every saturday which is usually a few sheets long.

usually it has adverts from o'riordan bond in it.

this week i've noticed that there are no adverts in it - first time i've noticed this and the thing itself is much reduced in size.

is simon bond feeling the pinch?

[HouseDog]

I just found something .... way back in time 12 December 2007

http://www.northamptonchron.co.uk/news-fea...edit.3578482.jp

A fall in house prices and decline in high street retailing is leaving a gloomy shadow over the UK's economy and some predict collapse is just around the corner.

In Northampton the high street has struggled for years and house prices have remained relatively low meaning a dip in the economy could hit the town hard.

Last week the Bank of England lowered interest rates which may make things easier for first-time buyers but signals that the housing market has reached its peak and is no longer sustainable.

Meanwhile the price of food and fuel continues to rise putting additional strain on households and leaving less disposable income to spend in the high street or on entertainment.

Many economists predict that 2008 will see a further fall in house prices but no crash.

If there is going to be a recession it will probably come in 2009.

People may also find it more difficult to borrow money as rules are tightened, having a knock on effect on both the housing and retail market.

But is the future really as doomed as some predict or will the country's economy continue to grow?

We asked five Northampton experts [one of which was .... ]

The estate agent

Simon Bond, managing director of O'Riordan Bond

During the second half of 2007 there has been a slowdown in the housing market due to a credit crunch, the introduction of Home Information Packs and a rise in interest rates, according to Mr Bond. But he said the recent cut in interest rates will help the housing market and will give people more confidence as we go into 2008.

He added: "House prices will remain steady. The rate of increase is falling but not house prices. Next year I think they will increase with the rate of inflation or a little more. The number of houses being bought and sold will probably reduce by 10 to 15 per cent.

"We have been spoilt by low interest rates. In 1992 they were 10.5 per cent. But Northampton's housing market benefits from the town being in a good location. Businesses and people are moving here as properties are still good value for money. It is a growing town and there is always inherent demand here. We are confident about next year but prices will be steady."

--------------------------------------------------------------------

So we still have 5 months to go .. maybe Simon Bond's prediction for 2008 will come true? Who knows?

I'd love the hear his prediction for the next six months!

[matnrach]

So we still have 5 months to go .. maybe Simon Bond's prediction for 2008 will come true? Who knows?

I'd love the hear his prediction for the next six months!

Probably something like:

This is a great time to buy as over the next 5 years prices will rise at a greater rate than inflation blah blah blah blah....

(if I say this enough times then I might actually believe it and things will be OK and I will still have be able to have my new BMW and expenive foreign holiday.)

Sell through an intelligent EA who knows the market and we can secure a sale (I will put your house on at a price that undercuts the others as this is the only way to sell)

Oh yes in 12 months time he will say:

Prices will not crash any further. This is a great time to buy as over the next 5 years prices will rise at a greater rate than inflation blah blah blah blah....

In 2 years..

Prices will not crash any further. This is a great time to buy as over the next 5 years prices will rise at a greater rate than inflation blah blah blah blah....

Edited August 4, 2008 by matnrach

[HouseDog]

http://www.northamptonchron.co.uk/news/One...need.4351159.jp [4 Aug 08]

One in six adults need CAB help

One in six adults in Northamptonshire will contact one of the county's five Citizens Advice Bureaux this financial year.

A quarter of calls to the service relate to debt and financial problems, with managers having already noticed changes in people's behaviour as Britain's economy worsens.

The Nationwide's latest house price survey has shown a fall of 1.7 per cent in July, with an overall annual fall of 8 per cent. Credit availability is expected to tighten, while about 40 per cent of house purchases are falling through.

On Wednesday, British Gas put their prices up by an average of 25 per cent, with EDF Energy having also raised their prices and other providers expected to follow suit.

Martin Lord, of Northampton Citizen's Advice Bureau, said the organisation had taken some 18,500 individual calls countywide in the first three months of the year. One in six of the county's population is estimated to ring a bureau within this financial year, with a quarter of calls to the service related to debt.

He said: "What we are finding is that in the past, when people have approached us there have been opportunities identified at an early stage for reductions in expenditure. This no longer happens.

"People have already pared things right back to the minimum and have still got problems. We have seen a big increase in personal bankruptcy."

Christopher Cook, head of accounting and finance at the University of Northampton, said economic troubles started with the sub-prime crisis in America. He said: "At the moment there is no credit and our happy economy for the last 15 years had been predominately fed by borrowing, not by spending, so when the credit dries up the spending dries up.

"If people then decide to save money this will drive even more money out of the economy, which will precipitate a low economy. It's a rapidly deteriorating cycle: if people spend less, there is less demand, and then redundancy."

Signs of the state of the economy were visible, he said, with a glance around Northampton town centre, where many shops have sales on and streets are not as crowded.

Forecasters have predicted the economy will officially end up in recession.

Mr Cook said: "I fear this one will last longer than one or two years and will be deeper than many people are forecasting."

------------------------

[matnrach]

At last there seems to be a sensible Northampton EA!

C&E Property column this week has Nick Salmon talking sense;

' A substancial proportion (of sellers) have been in a state of denial, expecting to knock a large percentage off the one they want to buy while believing that there own property has not fallen in value by a similar amount'

' Those that do find they can sell because in this market the only thing that counts is price'

Everybody knows this but can't bring themselves to say it (especially the famous Mr Bond who does know it because the only way he can sell anything is to slash the prices of the c**p at the bottom of the market)

I think Prof Bond has chickened out this week. Isn't it his turn?

Edited August 6, 2008 by matnrach

[HouseDog]

http://www.northamptonchron.co.uk/news/Bus...rket.4373723.jp [8 Aug 08]

Businesses hit by housing market slump

Removal firms are "sinking fast" and one estate agent sold only two houses in June and July, as new figures show house sales in Northampton have fallen by a quarter.

In the second quarter of this year 628 houses were sold in Northampton, against 842 in 2006 and 966 in 2007.

With a 25.1 per cent fall in transactions between 2006 and 2008, the town's housing market performed worse than the national average of 23.1 per cent, Channel 4 News figures showed.

One of the town's estate agents had a 90 per cent drop in its transactions in June and July of this year compared to 2007, selling two houses in two months. Of those surveyed, only five estate agents nationally performed worse.

Anthea Barnes, of AAF Removals in Ecton Brook, said removal firms were struggling to cope as fewer people moved house.

She said: "We were doing about three moves a week and now we are doing one a fortnight. We are sinking fast. It has been bad since Christmas. People are just not ringing.

"I have spoken to other removal firms and they are saying the same thing. There are companies going bust. The market is tragic, really bad."

The survey of estate agents, conducted by the Estate Agency Academy, showed the transactions of a second agent in Northampton fell by 53 per cent, from 45 properties in June and July 2007 to 21 in the same period this year. Neither of the estate agents in the survey were named.

But estate agent Richard Greener said good agents were able to sell houses in any market.

He said: "Our volume of sales in the first quarter was 26 per cent down and in the second quarter 50 per cent down. In the third quarter we have started to gain lost ground and we have agreed 13 sales in 21 days.

"For an estate agent to sell one house a month is pretty poor. Those who are not selling houses now are not selling because they're not good, not because of the market."

Rob Turton's company The Agents recently moved to an online operation to reflect the changing market.

He said: "What we have found is that we have done about 60 per cent of what we did last year. There are companies that haven't adapted to the way the market's gone.

"It's not down to the lack of staff or ability, it's how confident the company is and the message put down from the top."

Repossessions in the first half of the year rose by 48 per cent, figures from the Council for Mortgage Lenders showed yesterday. The number of homeowners behind on their mortgage payments has also increased.

-------------------------------------------------------------

[HouseDog]

http://www.guardian.co.uk/money/2008/aug/1...rices.mortgages [12 August 08]

Property: House sales fall closer to market floor

Sales of homes by Britain's estate agents are down 40% on a year ago as the strict lending conditions imposed by the credit crunch prevent first-time buyers securing a mortgage, the Royal Institution of Chartered Surveyors says today.

In its monthly health check of the property market, the body that represents estate agents said it expected prices to continue falling but that its members were hopeful of a pick-up in business.

The RICS said it could detect some signs that the market was close to a floor, with new buyer inquiries and sales expectations higher and a small fall in the balance of surveyors reporting price falls. But with one estate agent saying that the first-time buyer was "on the endangered list", the RICS confirmed that the market was being affected by the financial market turmoil of the past year.

"Tighter credit conditions, in terms of both collateral requirements and generally wider lending margins, is impairing housing market activity," it said.

Sales per surveyor stood at 14.4 in the three months to July, it said, down from 15.3 in the quarter ending in June. The balance of estate agents recording a fall in prices over the three months was a "very negative" 83.9%, but down from 86.9% in June and a peak of 94.7% in April.

In addition to the headline price balance, the RICS said new buyer inquiries and newly agreed sales series improved for the third successive month. "This might possibly reflect the more realistic pricing environment," it said.

"In terms of the outlook, the July survey lends further support to the notion that activity may be beginning to stabilise, albeit at a low level."

Surveyors questioned by RICS were downbeat about the outlook, although in some parts of the country agents said they saw signs of an improved climate. "It has been an encouraging month for sales - 25% up on June and just 20% down on July 2007," said James Buxton of Bidwells in Cambridge, who noted that a seven-bedroom house had sold for about £3.5m - a record for the city.

Quentin Jackson-Stops, of Jackson Stops and Staff in Northampton, said: "Conditions are more difficult even than the 1990s because of a lack of first-time buyers entering the market due to a lack of available mortgage funding."

Another surveyor, Malcolm Parker, of Joplings in North Yorkshire, said: "The only properties attracting any interest are those offered at greatly discounted prices (ie repossessions, new builds on large developments) and the older rural properties. The first-time buyer is on the list of endangered species."

A separate report today from the British Retail Consortium finds that the weakness of the property market was affecting demand for household goods and furnishings, helping to contribute to another poor month for business in the high street.

The BRC said poor weather and belt-tightening by consumers had meant annual like-for-like sales were down in July for the fourth time in five months - retailing's worst run since 2005. The BRC's director-general, Stephen Robertson, said "frivolous shopping is off the agenda", adding that customers were concentrating on "value and durability". There was little sign of the slowdown in retailing bottoming out, Robertson said.

Supermarkets were the only sector of the high street to report significant growth on July 2007, but the BRC said sales of furniture and furnishings were well below their levels of a year earlier for a sixth consecutive month. "With no let-up in the housing market slowdown and the squeeze on incomes, forward orders pointed to further slowdown," the report said.

With increasing demands on household budgets, the BRC said shoppers were reluctant to spend on non-necessities, and were now including clothes in this category. "With shoppers increasingly cautious in spending tight budgets - and now often seeing clothes as more of a discretionary purchase - core basics, childrenswear and clearance bargains sold well."

The survey found that retailers had responded with aggressive price cuts in the summer sales, but business remained difficult. "Even heavy discounting often failed to tempt customers to buy," the BRC said.

Total sales in July were 1.7% higher than in the same month a year ago, but the BRC said like-for-like sales were down 0.9%.

-------------------------------

[HouseDog]

http://www.northamptonchron.co.uk/news/Hou...inue.4379348.jp [12 August 08]

House sale in Northamptonshire continue to fall

House sales are continuing to dry up in Northamptonshire, according to the latest market survey by the Royal Institution of Chartered Surveyors published today.

The RICS survey – seen as one of the most accurate gauges on the state of the market – shows the average number of transactions per surveyor fell further in July as a lack of mortgage finance continued to weigh heavily on the market.

However, sales expectations have improved, driven by sellers beginning to accept more realistic asking prices.

A total of 86 per cent of East Midlands-based chartered surveyors reported a fall in house prices, a decrease from 90 per cent in June with an inability of many to secure mortgage finance being reflected in the collapse in transactions.

The average number of transactions per surveyor over the last three months is now at its lowest since the early 1990s.

Quentin Jackson-Stops, from Jackson-Stops and Staff in Northampton, said: "Conditions are more difficult even than the 1990s because of a lack of first-time buyers entering the market due to less available mortgage funding.

"This then stops upward chains forming.

"Many vendors are moving to rented properties, which in turn exacerbates the problem of falling sales volume.

"Little new stock is coming to the market as few vendors see this as a good time to sell."

------------------------------------------

Edited August 12, 2008 by HouseDog

[HouseDog]

http://www.rics.org/NR/rdonlyres/2EC66219-...veyJuly2008.pdf [12 August 08]

Comments extracted from RICS Housing Market Survey - July 08

Northampton – Northamptonshire

Quentin Jackson-Stops FRICS - Jackson Stops and Staff

Conditions are more difficult even than the 1990s because of a lack of first time buyers entering the market due to a lack of available mortgage funding. This then stops upwards chains forming. Many vendors are moving to rented properties, which in turn exacerbates the problem of falling sales volume. Little new stock is coming to the market as few vendors see this as a good time to sell.

- - -

Wellingborough – Northamptonshire

Martin Pendered FRICS - Martin Pendered & Co.

Whilst applicant numbers are down, the quality has risen. The new applicants are genuinely interested in moving. Activity remains high, but purchasers are unwilling to commit and agreeing sales is still hard work. Numbers of agreed sales are certainly better than the spring and volume is improving, even if at lower prices. We feel that the vendors are beginning to accept the situation.

- - -

Northampton – Northamptonshire

Adam Farnsworth BSc MRICS FAAV – Berrys

The effective freezing of mortgages followed by a real sense of higher cost of living (food 10.6%, fuel 24%+, education 13.2% on annual rate, and increases based on CPI and RPI measures) has led of a loss of confidence in house prices. There are still people looking to move, but they are dependant on the sale of their own property, so, until the wheels are oiled and sales can proceed, the housing market is going to remain stagnant.

------------------------------------

[HouseDog]

Mortgage and landlord possession statistics Q2 2008

http://www.justice.gov.uk/publications/mor...dpossession.htm

-----------------------

Court level figures 1987-2007

http://www.justice.gov.uk/publications/mor...dpossession.htm

-----------------------

Spec Savers are doing some good deals at the moment .. Sorry about the size!

[HouseDog]

http://www.northamptonchron.co.uk/news/Ord...uble.4397362.jp [16 Aug 08]

Orders to repossess homes double in Northamptonshire

Home repossession orders made by Northampton County Court have more than doubled since last year, new figures show.

There were 229 orders made in April, May and June against people facing repossession because of mortgage arrears, a 51 per cent increase on the same period in 2007 and higher than the national average of 31 per cent.

The figures, released by the Ministry of Justice yesterday, represent orders made and not the number of homes repossessed, as people may manage to negotiate a deal after appearing at court.

Figures showed 324 mortgage possession claims were issued in the same period at the county court, an increase of 30 per cent on 2007.

Martin Lord, manager of Northampton Citizens Advice Bureau, said there had been a marked increase in the number of people seeking advice because of mortgage arrears or arrears on secured loans.

In the second quarter of 2007/08, the bureau had seen 46 cases, but Mr Lord said based on the number seeking advice already this quarter, the bureau expected to deal with 90 such cases in the same period in 2008/09.

He said: "The reality is these orders put people in an incredibly vulnerable position going forward.

"For many people it will represent a personal tragedy.

"What is happening more is if you look at individual budgets you realise that, first of all, flat rate mortgage deals have come to the end for many people and the cost of living is going up.

"People still haven't got the message that it is more important to pay a mortgage than a credit card."

He said anyone with mortgage arrears should speak to their lender straight away and seek independent advice from an organisation such as the CAB.

George Dodds, the chairman of Homebank Financial Services in Abington Street, Northampton, said more and more customers were going to the company with financial problems.

He said: "For the last six months we have seen our turnover go up because of the number of people who are in trouble. People do need to get solid advice before they move forward with anybody.

"The figures are not a surprise because there are people with sub-prime mortgages who have come to the end of fixed rate deals.

"There are good products out there but unless people's arrears are handled by experts, they will continue to go up."

--------------------------------------------

[HouseDog]

http://www.northantset.co.uk/news/Surge-in...ions.4397292.jp [16 Aug 08]

Surge in house repossessions

Banks and building societies made nearly 700 claims to repossess family homes in the first six months of the year.

The number of claims against home-owners in the north of the county is up nearly a quarter when compared with the same period last year. It includes 412 claims at Kettering County Court and 276 at Wellingborough County Court.

Estate agents and mortgage advisors said they weren't shocked by the new figures, released by the Ministry of Justice yesterday.

Northamptonshire Estate Agents Association chairman Charles Orlebar, said: "These figures don't come as a surprise. If someone has bought a property in the last two years they could find themselves coming off a fixed rate on to a variable rate which they might not be able to afford. There is a diminishing circle of saleable properties because of the equity gap.

"First time buyers were coming last year for a £130,000 mortgage at 100 per cent. Now, even if their circumstances have not changed they are only being offered £90,000 and have a 10 per cent deposit.

"The bottom line is that until house prices fall back to where they are affordable to the buyer this is going to continue.

"If you own a property which has equity and are selling, you face having to lower it to the level which first time buyers can afford."

---------------------------------------

Interesting comments by Northamptonshire Estate Agents Association chairman Charles Orlebar!

At least he admits that house prices are not affordable.

[TheCountOfNowhere]

Check this out:

http://www.rightmove.co.uk/viewdetails-198...=5&tr_t=buy

A sub 90K terrace in the abington area. Granted its not the nicest end of abington but sets quite a precedence. I can see these going for 60-70K a year which would be about right !!!!

This one place makes the other places in abington at 130K unsellable !!!

[Nomadd]

Check this out:

http://www.rightmove.co.uk/viewdetails-198...=5&tr_t=buy

A sub 90K terrace in the abington area. Granted its not the nicest end of abington but sets quite a precedence. I can see these going for 60-70K a year which would be about right !!!!

This one place makes the other places in abington at 130K unsellable !!!

...and I can see those going for 30-40k in about 3 years which would be about right !!!!

Nomadd

[HouseDog]

Check this out:

http://www.rightmove.co.uk/viewdetails-198...=5&tr_t=buy

A sub 90K terrace in the abington area. Granted its not the nicest end of abington but sets quite a precedence. I can see these going for 60-70K a year which would be about right !!!!

This one place makes the other places in abington at 130K unsellable !!!

Yes I agree - the above will be 60 to 70K in a years time - and there will be quite a choice.

This house caught my price sensitive eye recently: http://www.rightmove.co.uk/viewdetails-177...13&tr_t=buy

[Aiming for 2nd rung]

Yes I agree - the above will be 60 to 70K in a years time - and there will be quite a choice.

This house caught my price sensitive eye recently: http://www.rightmove.co.uk/viewdetails-177...13&tr_t=buy

I spotted that one on Rightmove too, it seems a bit more reasonable in terms of price for a 3BR Semi (not saying it's a bargain though ). Unfortunately, it's on a really busy road close to a busy junction, and when I drove past it a couple of weeks ago, it appeared to have a Sold STC sign up. Suspect that this offer has fallen through now, and this explains the recent price drop.

[Executive Sadman]

+ Northamptons cheapest detached just got cheaper (again)

http://www.rightmove.co.uk/viewdetails-185...=1&tr_t=buy

Thats £120,000 to £109,995 to £99,995 in a matter of weeks.

As i said before, 60-70k seems about right based on likely rental yields. (assuming theres nothing wrong with it, and i guess 'needs modernisation' in estate agent speak could mean quite a variety of things)

[HouseDog]

I spotted that one on Rightmove too, it seems a bit more reasonable in terms of price for a 3BR Semi (not saying it's a bargain though ). Unfortunately, it's on a really busy road close to a busy junction, and when I drove past it a couple of weeks ago, it appeared to have a Sold STC sign up. Suspect that this offer has fallen through now, and this explains the recent price drop.

Your right - its a good sign of things to come but its not really a bargain due to its location.

I'm encouraged by the amount of local properties which are dropping their price now - however there is still some way to go before we get back to anything near normality.

[HouseDog]

+ Northamptons cheapest detached just got cheaper (again)

http://www.rightmove.co.uk/viewdetails-185...=1&tr_t=buy

Thats £120,000 to £109,995 to £99,995 in a matter of weeks.

As i said before, 60-70k seems about right based on likely rental yields. (assuming theres nothing wrong with it, and i guess 'needs modernisation' in estate agent speak could mean quite a variety of things)

I looked at the 'In Need Of Modernisation' tag - it might well cover a lot of items! No internal photos either.

[HouseDog]

http://www.northamptonchron.co.uk/your-let...e-of.4409098.jp [20th Aug 08]

Chron - Readers Letters Section:

Bureau is unable to help everyone

I was pleased to see the Chron picking up on the recent repossession figures (August 16). It's a massive issue and one that I suspect will affect Northampton more than other areas.

The Chron was right also to identify the personal consequences of repossession proceedings.

Many will find it easy to lay the blame at the foot of the debtor.

The reality however, is that the modern workplace is insecure and payment protection insurance is often found wanting.

There has also been an, until recent, common perception that buying and speculating on house purchases is without risk.

Under these circumstances many will begin to see friends and relatives, if not themselves, with serious debt problems leading to actual or threatened repossession.

Northampton and District Citizens Advice Bureau, like other organisations helping people at the 11th hour of repossession proceedings, is a charity.

It is also independent. As the organisation approaches its 70th anniversary, and as one of the institutions that helps the town derive a sense of civic identity, our funders, benefactors and clients should derive some reassurance from knowing that we have quietly become one of the most productive and effective CAB in the country based upon income.

But we are also, and almost uniquely, in demand.

The Chron is right to identify independent advice agencies like the CAB as offering a lifeline to those who are in trouble. But debt advice, of the sort that can keep families in homes, is a time consuming process.

As an organisation, we are not immune to rising prices and principle funding has reduced in real terms in recent years.

We will not therefore be able to help everyone and I hope people are understanding of us.

I also hope that new partnerships and robust funding can be found to enable us to continue our work.

Martin Lord,

Manager,

Northampton Citizens Advice Bureau.

---------------------

[HouseDog]

http://www.northamptonchron.co.uk/news/Cru...rise.4411486.jp [21 Aug 08]

Crunch leads to a rise in rentals in Northampton NB: That's numbers of properties being rented not rental prices

The rental market in Northampton is booming as an increasing number of people have decided to let their homes instead of selling them during the credit crunch.

The Royal Institute of Chartered Surveyors (RICS) said that, in the three months to July, there was an increase in rental prices and in the number of landlords coming forward with properties.

The RICS found 53 per cent more chartered surveyors in the East Midlands reported a rise than a fall in landlord instructions, compared with 28 per cent in the previous quarter.

see the above link for more .... .

---------------------------------