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Shoppers Duped - Big Deal!


A survey out today from Which? reveals that some of the offers labelled ‘Great Value’, made by the likes of Asda and Sainsbury  aren’t all they’re cracked up to be. They accuse the firms of ‘illegally misleading’ consumers by selling  large multi packs of products for more than the contents would cost to buy individually in smaller quantities.

Everyone is getting hot under the collar about this today, but really!  Anyone with the maths skills of an average 8 year old can work out whether a multi pack of 6 bags of crisps for £1.55 is better or worse value than buying 6 individual bags at £0.25 each.  As crimes go (that’s what illegally suggests isn’t it?) it’s a bit disappointing on the fiendish front.

Just two points really:

Keep an eye on what you’re paying - not what it says on the packet.

If this really bothers you – you are blessed by a life free of any significant hassles and worries.

London Property Hotspots

New figures from LSL Property Services has found UK rents are hitting new highs with average rents now at £686, a 2.5 per cent increase since last year and the seventh consecutive month of gains, up 1.4 per cent in August alone. Yields are also climbing which makes now a highly profitable time to enter the sector; rising 4.9 per cent in August.
David Newnes from LSL says, "Rents are jumping up as more and more potential home buyers opt to rent. People are wary of a crash in house prices and concerned over the effect of government cuts on their own ability to meet long-term financial commitments. Additionally, many can't get a mortgage at an affordable rate." The company have also stated average BTL investors could see 9.3 per cent returns on properties purchased in August.
Where to buy? Estate agency Kinleigh Folkard & Hayward has highlighted what they believe to be the top areas in London with the fastest rising rents. These may be ideal markets for landlords, with rents surging in Streatham, Tooting, Peckham, Wimbledon and Hammersmith as all five areas grow in popularity and considered fashionable places to live. According to KFH, rents in Pechkam and Streatham have jumped 14 per cent already, 12 per cent in Tooting and 10 per cent in Wimbledon and Hammersmith. We can put together an article on request.

Winter's Coming Soon

A timely reminder has come in from Aviva, reminding home-owners to double-check chimneys before they light their wood burners and open fires for the winter.
‘The use of woodburners or open fires can be a toxic mix. Many fires start in poorly maintained chimneys or due to faulty flue liners. It is vitally important that homeowners take sensible fire precautions to protect their homes and valuables. Chimneys should be professionally swept twice per year and chimney brickwork and flue lining inspected regularly.’
‘There are also innovations, like chimney CCTV inspections, which are now widely available and a very effective way to detect any problems such as deterioration in chimney brickwork or problems with the condition of flue liners. Prevention is vital as detection is almost always too late to save your home and valuables.’

Florida Property Bargains

It’s being said that almost 50 per cent of all home sellers in the US are offering discounts, most notably in Florida. ZipRealty research has highlighted the high proportion of sellers reducing asking prices to less than what they were originally asking for, with prices down by an average of 7.1 per cent. Last month, 47 per cent of homes for sale had been reduced at least once whilst on the market, a rise of 3.26 per cent since July. On average, prices have been reduced by $19,092 which indicates there are significant savings to be made by picking up real estate bargains now.
Leslie Tyler from ZipRealty says, “It appears that homebuyers are taking their time as they don’t feel a sense of urgency to make an offer, unless the price is right, and sellers are having to aggressively cut their prices to stay competitive in this market. We typically find if a buyer hasn't walked through the door in 30 to 45 days, a seller needs to lower their asking price. If a home hasn't had an offer in six months, it’s time to rethink the sale.” We can put together an article on short sale buying in Florida, on request.