Though it will still be an exciting year for the property market, homeowners must be wary of DIY property programmes and be realistic about the value of their house this year. So says the new face of property in Newport.
Gareth Cheshire has recently returned to Newport and is heading up the regional branch of Wales' leading estate agency, Peter Alan, following many years in estate agency and property development across the UK.
With his books holding properties valued in excess of £20m at any one time, he believes that the deluge of TV property programmes featuring property development and interior design could lure some homeowners into a false sense as to the value of their property.
"Turn on your TV most days and you are likely to find a programme focusing on property DIY," said Gareth. "Of course these programmes can be informative, however people must realise the properties are probably handpicked to make good television. Typically, the participant is seen to turn a healthy profit and this can give us all a sense of tremendous wellbeing and a feeling that we can do the same. "However, the biggest factor in these apparent big rises in the value of featured properties is more likely to be the general growth in house prices around the UK, and less to do with the overall quality of the DIY work. In 2006, although all the indications point to a gradual increase in the number of property transactions compared with 2005, average house prices will not rise significantly. "That is why it is important to manage people's expectations, so that they are not left wondering why some major DIY improvement may no longer warrant a hike in property value."
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