The Value of Property Valuations

2 Bedroom Apartment v 64 Bedroom Mansion?

The Telegraph recently published an article comparing the value of two similar properties... in this case, the term "value" is being used strictly in reference to the market price. Both properties are for sale in the range of £4.25 million. 

The first property provides:

• 64 bedrooms
• 88 acres
• A ballroom
• A history dating back to 1700

The other provides:

• 2 bedrooms
• 125 square metres
• ... Umm, and integrated "high end appliances"

So, what's the all important difference that awards those 88 acres? 
In the words of Kirsty Allsop, "Location! Location! Location!" 
The latter apartment is located in Knightsbridge, London whilst the other stately home is in Shrewsbury, Shropshire (near the welsh border).

But how do you put a true price on a property, we hear you ask? 
There is obviously overwhelming support of the fact that our Capital city justly demands a great price hike versus other areas of the UK (or even, the world...) but exactly what factors determine the sales value? 
Dawson Surveyors stresses the importance for any homeowner to know this simple fact. After all, get it wrong at purchase and there is immediate danger of negative equity. Get it wrong when attempting to sell and there may be a total lack of interest from the market.

A property must be valued by a professional (contact Dawson Surveyors for more information). The pricing formula in its most basic sense considers:

• Property age
• Number of rooms
• Features and fittings
• The current condition of the property
• Location and surrounding amenities
• Associated costs and liabilities

Property valuers also assess the interest in a property at a given time. This interest could be in connection with a sale, letting, leasing, investments, etc. And these variable factors are what make pricing a property more complicated than it may at first appear. Always ensure that your professional is knowledgeable and experienced.

Also bear in mind that a valuation survey is the most basic form of survey. For a more comprehensive survey you may wish to consider a Home Buyers survey or a Building Survey. If you are unsure and have questions of any type, do not hesitate to contact Dawson & Associates. 

http://www.dawsonsurveyors.com/valuations.html

Dawson & Associates Advise Own Front Door

As property prices continue to soar in the UK (and interest rates remain, well... of little interest), is the smart money once again being invested into strategic property developments? 
Over recent years we've seen the likes of Sarah Beeny preach loudly about mistakes here and naïveté there, but with a savvy nature and a little sound advice Dawson & Associates believe that it is possible to secure good returns from real estate.

One key piece of advice from Charles Dawson is to aim for a property that has its own front door (or the potential to create one). This may initially sound silly - "of course a home should have a door", we hear you cry. But the truth is that whether the end-resident is seeking a house or an apartment, it is nice if, upon opening the front door, ALL of the space is private. It often gives the premises a superior feeling - which in some cases could be provided at a premium.

In addition, communal  hallways often cause difficulties whether its simply because one person doesn't collect their post and leaves it piling up in an unsightly fashion or because there is repair work to be done that requires some diplomatic budget discussions. As a landlord, even more than a tenant, these ongoing issues are better avoided.

Of course whether you are considering property development simply to urnover for profit or if you are more interested in the income that rentals can provide, Dawson & Associates always advise a property survey from a professional before committing to the investment. Successful rental properties often have different criteria than properties intended to be quickly placed back onto the market so be very aware of your end-goal from the beginning. Of course, all properties should be structurally sound and also consider any environmental or political issues in the area. 

Contact Dawson & Associates now for more information and free initial advice.
Book a Survey: 0044 1424 882263

Buckingham Palace, Valued the World's Most Expensive Property

Comparecamp.com has now confirmed that Buckingham Palace is the world's most expensive property. However, some of the property value is attributed to THE VIP who happens to live there, thus making its pole position a little impossibly competitive. Of course it's Kensington address, 775 rooms and 40 acres of gardens play a part in the astronomical price tag too.

Buckingham Palace beats Billionaire Mukesh Ambani's rather eccentric Mumbai mansion, a 20 acre estate on the Côte d'Azur and a 100,000 square foot mansion in New York. Just a little lower down the list are another 3 Kensington properties truly demonstrating the exclusivity of this London district.

Just as Buckingham Palace has a heightened price thanks to its status as the Queen's residence, true property values can depend upon a multitude of things. Dawson and Associates are a team of highly experienced professional surveyors who can provide dependable valuations on properties within the UK and abroad. As valuers, we assess the worth of interest and the land at a given time. We also assess the age, condition and location of the property. With this information and our expertise we are able to provide an accurate report that will help you to make the correct property decision. Please feel free to contact us for free initial advice.

http://www.dawsonsurveyors.com/valuations.html

UK Property Market Still Bubbling...

... but beware, there are signs of calmer waters ahead...

June 2014 reports showed that UK property prices were still on the rise. And hope for a full economic recovery abounds after so many were wounded in the 2008 crash. But experts warn that growth will now begin to slow. 

Those who were fortunate enough to sell a property in June 2013, were likely to have received substantially more than they would have done 12 month before. First-time buyers were hit by a 12% increase on their investment with the average investment rising to £204,000. But, statistics for July and August told a different story with asking prices dropping (source: Rightmove).

Advice from Dawson & Associates is the same as it has always been. Never rush into a property purchase decision and ALWAYS take advice from a professional. The markets show fluctuating (and to some extent unfathomable) prices that are literally changing on a month-by-month basis. Back in February Ha-Joon Chang warned, "This is no recovery, this is a bubble – and it will burst" but those who have been lucky enough to sell over subsequent months have profited well, so there has indeed been reason for celebration. 

It should also be well considered that prices throughout the UK vary wildly so a rule for South-East investments does not work so well in the North. Rather, as Dawson has always advised, the single most valuable piece of advice is to judge each property investment on its independent merits. Sometimes the best investments can actually be made during the crisis not during the booms nor bubbles. 

With over 40 years of experience in the UK property industry we have seen every type of price increase and decrease. And we have seen property investments go very wrong even during the most palatable circumstances. For this reason, we offer initial advice for free. 

Please contact us to discuss your unique property investment opportunity 0044 1424 882263
Should your investment be worthy of further investigation, we are able to offer Building Surveys (& Listed Building Surveys), Homebuyers Reports and Valuations across the UK. 

PLEASE TAKE HONEST, PROFESSIONAL ADVICE PRIOR TO PURCHASING YOUR PROPERTY. 
www.dawsonsurveyors.com

Neighbourhood Planning Updates

RICS have recently issued an alert to ensure that all Chartered Surveyors are aware of the updates to neighbourhood planning rules.

Neighbourhood planning was introduced in 2012 to aid the development of land and the appearance of the construction of new homes and offices. In addition, the government made financial and advisory support available for communities who felt the need to develop their neighbourhoods. Whilst there was great reticence for the initiative in the early days, there are now more than 1000 neighbourhood plans in preparation. 

One of the biggest advantages of a neighbourhood plan is the increased communication within a community. Local residents and business owners are given a say in the use and distribution of their area. In some situations, a thorough neighbourhood plan with a clear intention can avoid the requirement for the planning applications that generally need to be submitted to local authorities. 

However, Dawson & Associates does strongly recommend that all development plans are prepared with the input of a professional. Whilst it is important to consider the opinions of key members of the local community and to assess the needs of all who reside there, it is essential that construction expertise holds equal value if a plan is to help the community to grow and be successful. 

Neighbourhood plans should never be underestimated. They should be informative and knowledgeable documents and therefore they require heavy commitment from those who have shown an interest in being involved. The document gives certain levels of power and responsibility so those taking the reigns of the project much be carefully selected. 

If you are involved in a neighbourhood plan and require some expert input OR if you are considering a neighbourhood plan and would like some advice before commencing, please call Dawson & Associates. 01424 882263 
Initial advice is provided free of charge and it could help to immediately resolve a potentially problematic situation. 

We have been in business since 1980 and we know that in the property industry, there are no problems – ONLY SOLUTIONS.

The Royal Institute of Chartered Surveyors ensures that all of its members are fully informed at all times regarding the latest property regulations. A RICS regulated practice such as Dawson & Associates maintains the high standards set by the regulatory body – employing the vast skills and extensive experience of senior personnel to cover all aspects of property surveying, design and management.