The historic spa city of Bath is famous for many things – stunning Georgian architecture, Roman remains, Pump Rooms, its spa, for being a city where Jane Austen lived, for its 15th century Abbey, quirky Pulteney Bridge, its annual literature festival and soon-to-be comedy festival. In addition, it’s also a great place to live. If you’re looking to buy or rent property in Bath, and fancy living in a UNESCO World Heritage site, the city has lots to offer.

Last year, the Sunday Times Travel Magazine Reader Awards voted Bath as the 6th Best European City and its Thermae Bath Spa as the Best UK Spa. It’s also been voted as 4th in the Top 25 Europe Destinations and gained 14th place in the Top 100 World Destinations in a TripAdvisor survey.

One of the biggest draws for many people is Bath’s abundance of gorgeous, honey-coloured Georgian buildings. The Royal Crescent, which was built between 1767 and 1775, is a famous landmark in Bath, along with The Circus, which is said to form the shape of a key when viewed above from the air. In addition to the Royal Crescent and The Circus, some of the other prime locations in Bath include Sydney Buildings, Lansdown Crescent and Sion Hill. Another iconic landmark is Pulteney Bridge, built for William Pulteney by Robert Adams, and one of only a few bridges in the world that has shops built into it.

Georgian properties are often on the market, but do come at a price. Other more affordable period homes can be found in areas such as Walcot Parade, Camden Crescent and London Road. If you don’t want to live right in the city, you’ll find lots of housing options on the outskirts. Bath hasn’t been a hotbed of new housing developments, but the Western Riverside development of 2,300 modern townhouses and apartments, which has been granted outline approval and planning consent by Bath and North East Somerset Council, may change that.

It’s also worth bearing in mind that Bath is home to two universities – The University of Bath and Bath Spa University – which means there’s generally no shortage of students looking to rent flats and houses in the area. There are also a lot of large companies in the area, so young professionals often need good quality rental properties too.

The city benefits from great transport links – it’s located about 10 miles from junction 18 of the M4 motorway, is easily accessible from Devon and Cornwall via the M5 motorway, and has regular rail services from London Paddington and Waterloo. Bristol International Airport, which has flights to many UK and international destinations, is located about 15 miles away.

According to The Independent, if your house is haunted it could have a negative impact on its value.

Obviously as an online property portal whose business pivots on the buying and selling of homes, this is a major concern for us at Primelocation.com. The more we think about it, in fact, the more we realise there are many things you may not have previously considered that could be affecting your sale price. To help you identify the problem, we’ve compiled a short list of…

Other things that may cause your house price to plummet

• Neighbourhood werewolves
• The Zombies outside your house, groaning and staring through the window with dead, milky pupils at the estate agent trying to show prospective buyers the original cornicing
• An angry leprechaun that lives in your garden shed and hums the entire Pirates of Penzance score while throwing pinecones at you whenever you’re weeding the azalea beds
• A unicorn that sleeps under your bed and keeps stabbing you in the back with its stupid magical horn while you’re trying to sleep
• Oompa Loompas in the kitchen that sing annoying songs about love handles whenever you open the fridge door
• A vampire that lives in your closet and says things like, “Cheer up, it might never happen!” every time you reach for a cardigan.

Have I forgotten any? Let me know.

(Incidentally if you do have any of the above residing in a property that you are currently trying to sell, please be aware that unless you declare the problem to potential buyers you may be prosecuted under the Property Misdescriptions Act of 1991. If you are advertising your property for sale on Primelocation.com, please call us with the details of your haunting immediately and we will write it up on our imaginary typewriter.)

We asked property experts Sarah Beeny, Raj Shastri, Gary  McCausland, Tony Bayliss and Arv Soar where they thought the UK property market was headed in the next 12 to 18 months. Here’s a taste of what they had to say:

“I started buying and selling property many, many years ago, but in more recent years people stopped seeing their home as a home but more as a commodity. That’s okay if that is your business and what you do as a living, but you have to make a distinction between something that is your home and something that’s bought as an investment.

“Mortgages are becoming more available again and there is certainly more liquidity in the property market now than there was at the end of last year.

“The problem with many house sellers today is that they are still expecting top prices when they are selling but desperately reduced prices if they want to buy. Things are starting to give, though, and people are starting to be more realistic. Mortgages are becoming more available again and there is certainly more liquidity in the property market now than there was at the end of last year.” Sarah Beeny

“My advice is to do what Phillip Green is trying to do – buying up half the High Street at low, low prices. In a few years’ time the question people will be asking is: ‘when did you get into property? 2009, wow, that was a great year to buy: 25% discounts, lowest ever interest rates, highly motivated sellers.’ Take advantage now ready for the next property boom which will make the next round of property millionaires.” Raj Shastri

 “…all the indicators are that the bank of England will be keeping interest rates low and lenders will eventually succumb to the pressure and start passing them on. In 2009, the cost of your mortgage should become cheaper – and lots more products on the market will mean that buying a home should become easier.

“The property market is forever turning and moving. It goes up and goes down but will eventually go up again. I think we’ll start to see shoots of recovery this year and prices bounce back in 2010.”
Gary McCausland

“My own portfolio was in the student market and if I were starting afresh today, I would still go for the same market because universities continue to expand and there is always a constant need for student accommodation. The returns from students are far higher than from families, with 8-12% still possible in the current climate. The key is to choose the right property in the right location.

“My advice would be to look for university towns or cities and find a property with potential for four or five study bedrooms within a five-minute walk of the main campus. Choose something which needs a bit of work, because these tend to be a lot cheaper and sellers will be desperate for a buyer.” Tony Bayliss

“I am finding investors are putting a lot more cash into each property purchase and have seen a marked increase in cash buyers. Investors are no longer leaving money in the bank due to poor returns and pensions are particularly affected so people are looking for positive income streams.

“Now is the time to buy and hold on to property! Values always do rise, as do rentals increase. The banks need to inject liquidity back into the market and the Government will hopefully force them to. The signs are that the property market will pick up in 2010. Property as a financial investment makes more sense now than ever.” Arv Soar

Want to know more? Read the experts’ property predictions in full on Primelocation.com.

Q. We are first-time buyers looking to get onto the property ladder and need advice on surveys. We’re not sure what type of property we would like to buy; it could be an old Victorian converted flat as much as a new property. Please can you explain the various types of surveys, what they mean and which one you suggest.

A. There are three basic types of survey and which one you choose will depend on how thoroughly you want the property inspected. Each one is more in-depth than the other and obviously more expensive:

•  Valuation survey – Carried out by the building society, bank or lender, a valuation survey is the most basic option and is really only for the benefit of the lender, not the purchaser. This type of survey, although mandatory if you require a mortgage, will not offer any advice about the structural integrity of the building.

•  Homebuyer’s Report – This is a level two property survey with a format prescribed by the Royal Institute of Chartered Surveyors (RICS) and can only be carried out by a Chartered Surveyor. This type of survey offers more detailed information on any movement issues, timber defects and dampness – an internal and external examination of the building and an overview of the services with recommendations for further testing if required.

•  Building Survey – Previously known as a Full Structural Survey, this is also carried out by a RICS surveyor and is the most comprehensive survey available for residential property purchases. A Building Survey is much more detailed than a Homebuyer’s Report, pointing out all minor defects and providing guidance on the cost of correcting them. If the property is particularly old, unusual in design or if you are planning major restoration works, a full building survey is strongly recommended for complete peace of mind.

Got a property quandary? Need an answer ASAP? Leave a comment with your question and we’ll do our best to help.

Q. My extended family members and I are considering pooling all our financial resources to invest and renovate rundown properties; we feel able to enter the market at this point as prices have come down to more affordable levels. However, I am reticent to join the group because one of the family members has a past record of bad debt. They have assured the group that they have overcome their financial problems now, but I’m still worried as my personal investment represents the entirety of my life savings. Can you suggest what we can do to make this a successful property developing venture, as I’m really keen to join and cash in on the market before it rises again?

A. It is a fact that, together as a group, you will have far more buying power which should reap rewards in the current climate, so it could be a good financial move subject to finding the right property. But first, a word of caution. I would suggest all parties meet with an independent lawyer with whom none of you have had any previous dealings. The purpose of the meeting should be to draw up a formal agreement which will a) set out the terms of your business arrangement, b) show where financial responsibility lies, and c) dictate any opt-out and release clauses should one of the group wish to leave mid-project. It should also show how any costs, profits and losses will be apportioned. Without such a document, the venture will be based on nothing more than trust – with potentially serious financial implications should problems occur down the line, or if trust breaks down between various members of the group. One important thing all members should address is assessing the creditworthiness of the member with previous debt problems. This could be an issue if applying for finance including their name. Good luck!