Open fires and wood burners

There has been a surge in demand for open fires and wood burning stoves.  The reasons for this is firstly; the age old attraction of an open fire or stove and the focal point and ambience that it creates to a room.  Secondly, with gas, oil and electricity prices rocketing people are turning to alternative fuels and thirdly, wood is a renewable energy source and therefore eco friendly.

A further advantage of these appliances is that they improve the ventilation and air flow to a home.  Over the last forty or fifty years we have “hermetically sealed” up our homes.  Moving to central heating without fireplaces, sealed unit double glazing to a point that the modern lifestyle problem of condensation has increased significantly which in the extreme cases has resulted in illness and respiratory problems.  The growth in popularity of open fires and wood burning stoves go some way in reversing this trend and gives a slightly healthier lifestyle.

But as with any thing we do these days there always seems to be  a downside or an associated health risk. 

That downside is known as particle inhalation.   Germany regards this as being health risk and have introduced legislation to limit dust emissions and even the smallest appliances have to be tested.  Not so in this country.  There is no requirement for appliances to be tested.   Providing that in the case of wood burning stoves the appliance is connected to a correctly designed and efficient flue system and well-seasoned wood is used then there is little risk of particles/fumes entering the house.   However, there are regulations requiring the room in which the appliance is located to have some form of permanent ventilation such as a fixed air brick or similar. 

Furthermore, its worth remembering that eighty percent of the heat from an open fire goes up the chimney where as with the wood burner it is only twenty percent.

Finally, all heating appliances whether they be burning gas, wood, coal or oil can give off carbon monoxide which can cause serious health problems and in the worst instances death.  The same principles of a well designed,  efficient flue as well as a well ventilated room are of paramount importance along with regular maintenance by a “competent approved person”.  Also consider fitting a carbon monoxide detector to the room – for further information on safety issues visit www.solidfuel.co.uk .

Russell Francis

House Prices in 2011

At this time of the year we see the usual  predictions on what house prices will do over the forthcoming year.  As ever, these predictions differ widely.  On the one  hand the “doom and gloom” merchants are predicting a fall of seven to ten percent where as the optimists have suggested the possibility of a small rise.  What is certain, is that predicting house price movements with any accuracy is almost impossible and the predictions invariably turn out to be wrong.  Furthermore, what might happen in one part of the country may be completely different to what happens in another.

There are just so many variable factors at the present time making the  prediction of house price movements almost impossible. 

Firstly, the economy.   We are in the early stages of recovery but austerity measures recently introduced have not yet filtered through and their effects on the economy are not fully known.   There will be continued uncertainty in the economy which may have an effect on the housing market but the general consensus appears to be that the economy will continue to improve gradually.  I therefore believe that confidence in the housing market will remain at similar levels to 2010.

Secondly, the increased regulation affecting the Banks following the banking crisis has severely restricted the availability of mortgages.  Net mortgage lending has dropped to its lowest level for more than a decade.  Mortgage lending is likely to continue at these levels during 2011 and any improvement will be gradual after that.  However, these more stringent requirements have existed now for more than two years and first time buyers have been saving for larger deposits over this period and the market is gradually adapting to these conditions.  On the other hand demand from investors and those buyers with sizeable equity in their existing property, recognising that now is a good time to buy, has been good and we have experienced a good level of confidence from this sector during 2010.  Finally on this issue we have seen a good demand from immigrants buying houses looking to settle more permanently in this country.

Thirdly, there is the unknown factor of interest rates.  Inflationary pressures are likely to  result in interest rates being increased.  Higher rates are likely to have an adverse affect on the housing market but there will be a reluctance by the Bank of England to raise rates for this reason.  This risk will need to be balanced against the inflation issue.   However, I think we are all kidding ourselves if we believe that rates can stay at 0.5 percent.  Any one intending to buy a house will factor in the likelihood of an increase.  They can also look at the fixed rate option.    My view is that we are likely to see rates rise towards the end of the year but any increases are likely to be gradual.

The fourth factor is the supply of property coming on to the market.  Unlike previous recessions the very low interest rates have reduced mortgage repayments, thereby keeping people in their homes and not flooding the market with repossessions.   Many home owners have decided to sit tight following the price drops of 2008 and consequently there is a shortage of supply, particularly in some of the more popular areas.  This factor caused prices in these areas to recover during 2009 and early 2010.  This situation is likely to continue through 2011 and therefore there will be a shortage of good housing in some locations which is likely to help prices maintain their existing levels.

On balance we are likely to see a similar market to last year with values not changing significantly over the twelve month period.  Of course there can be regional changes but in my area of operation, the East Midlands, I do not expect any real change.  

But remember, it was widely predicted that during 2009 there would be a large fall in prices but they actually rose by 6 percent – which goes to show that the only certainty in these uncertain times is that most house price predictions are likely to be wrong.

Russell Francis

Avoid burst pipes

During these unprecedented cold spells it is important to take basic steps to prevent damage to your house.  With temperatures below zero water pipes in cold areas of the house are in danger of freezing.  This can cause burst pipes with untold water damage. 

• Leave your heating on all the time if you can, at a minimum of 15 degrees C. This is the most fuel-efficient way of keeping your house warm in this weather
• If you do not use your heating at all, pipes will be in danger of freezing up in a loft or underfloor area – so if you go away for a few day be sure to leave your heating on – alternatively drain down the plumbing and heating systems.
• If your water pipes and tanks in the loft are not well insulated then consider leaving the hatch cover open to allow warm air to circulate from downstairs to prevent freezing – as a longer term measure consider improving the lagging to the tanks and pipes.

I have seen, at first hand, thousands of pounds of damage to a house caused by frozen/burst pipes in the loft.  That winter was not as severe as what we are currently experiencing and the owners had only been away for a few days – but unfortunately had turned off the heating.

Russell Francis

Which Survey?

I am frequently asked by people buying a house “which survey should I have?”  There are basically two types of survey available to someone buying a house (do not confuse a “survey” with the mortgage valuation that the lender arranges – this is not a survey).   The two types of survey are the Building Survey and the Homebuyer Survey.  Basically it’s ”horses for courses” – as a general guide the Homebuyer survey is suitable for most properties built after 1880/1900 and before that the Building survey should be considered.  For example the Homebuyer survey is absolutely fine for a late Victorian Terrace house of which there are many in most urban areas.  I have carried out literally hundreds of homebuyer surveys on this type of property and my customers have been more than happy (there are specimens of both reports on the Homesurv website www.homesurvuk.com)

As with anything there are exceptions to this general rule – there is nothing to stop you having the more detailed (and more expensive) Building survey on a younger house – some people feel the extra cost is justified when buying such a valuable asset.  Conversely there are some houses of non-traditional construction built after 1900 which would not be suitable for a Homebuyer survey.   If you are in any doubt you should talk to a local surveyor.

Russell Francis FRICS Dip HI

House Prices

Contrary to recent press reports Homesurv do not think that property prices will fall significantly over the coming months. In fact we have experienced a very healthy period carrying out a high volume of private surveys indicating that there is confidence in the market and people are buying houses. The main problem is that the lenders are not lending to first time buyers and many first time buyers are currently renting. This situation has existed now for almost three years and there is, in our view, a significant pent-up demand. Once mortgages to first time buyers become more freely available the pent-up demand will be released and we are likely to see prices start to rise.