Landlord and Tenant News: Government pours praise on SAFEagent in new housing strategy.
SAFEagent, the scheme launched this year to protect both landlords' and tenants' financial interests, has this week received glowing praise from the government.
In a statement released by Westminster detailing the government's new strategy for housing, SAFEagent, which launched to much acclaim in May, was described as a scheme which is driving up industry standards.
It was also stated that many landlords and tenants often do not realise the benefits of choosing a letting agent that is covered by the client money protection initiative.
“The SAFEagent scheme promotes consumer awareness of the issue and helps them to identify agents with protection, through the SAFEagent badge," the document noted.
“It shows how much can be achieved quickly and cheaply through simple and effective ideas driven by industry not the government.”
Since the scheme came into force, housing minister Grant Shapps has been extremely vocal in praising what SAFEagent is doing and has encouraged more letting and property management companies to sign up.
John Midgley, chair of the SAFEagent Steering Group, said that the governments continued backing was a "fantastic endorsement" of SAFEagent and he thanked Mr Shapps for his support throughout the past few months.
“We’re delighted that the government recognises that the industry can generate and implement proactive, innovative ideas which are in the interest of the consumer rather than relying on imposed regulations which would lead to further red tape and cost," he stated.
“SAFEagent is a simple and sensible approach to raising consumer awareness of Client Money Protection and it’s one that is working."
At present more that 1,600 agents and management firms have joined the scheme but Mr Midgley urged more to make a positive difference to the industry by joining up.
This September Lord Taylor of Holbeach, a Conservative peer and House of Lords whip, said he was "delighted" the government was endorsing SAFE and added that consultation is in place to make such protection initiatives a statutory requirement for all agents.
Landlord and Tenant News
Monday, November 28, 2011
Friday, November 11, 2011
Overseas Property Searches
The United States is now the second most popular overseas property search destination in the world, according to the latest report from TheMoveChannel.
After a long running battle between France and Spain at the top of the chart, the US has unexpectedly turned the two horse race into a three way competition for top spot. The country rose by two places in the rankings, replacing the traditional runner up as the surprise second favourite for buyers in October.
America has always been one of the most popular places for foreign real estate investment, alongside France, Italy, Portugal and Turkey. But while Spain remains the country of choice for buyers, receiving 3% more enquiries than the month before, America saw an increase of 1.06% in enquiries last month.
That number may seem like a small increase, but interest in US property has grown by 3% over the past three months, indicating a consistent appetite from overseas buyers for the country’s heavily discounted property market.
France had 1.57% fewer enquiries last month, while interest in Portugal also waned, by 2.42%, perhaps a sign that the continuing Euro crisis is sapping interest in continental property markets.
America’s ascension was just one of several surprises, as Cyprus and Thailand both jumped several places to enter the Top 10 most popular destinations. Cyprus has been suffering from unemployment and economic woes in the years since the housing boom, but the country is now starting to claw back buyers, as property prices dropped for the sixth quarter in a row last month.
After a long running battle between France and Spain at the top of the chart, the US has unexpectedly turned the two horse race into a three way competition for top spot. The country rose by two places in the rankings, replacing the traditional runner up as the surprise second favourite for buyers in October.
America has always been one of the most popular places for foreign real estate investment, alongside France, Italy, Portugal and Turkey. But while Spain remains the country of choice for buyers, receiving 3% more enquiries than the month before, America saw an increase of 1.06% in enquiries last month.
That number may seem like a small increase, but interest in US property has grown by 3% over the past three months, indicating a consistent appetite from overseas buyers for the country’s heavily discounted property market.
France had 1.57% fewer enquiries last month, while interest in Portugal also waned, by 2.42%, perhaps a sign that the continuing Euro crisis is sapping interest in continental property markets.
America’s ascension was just one of several surprises, as Cyprus and Thailand both jumped several places to enter the Top 10 most popular destinations. Cyprus has been suffering from unemployment and economic woes in the years since the housing boom, but the country is now starting to claw back buyers, as property prices dropped for the sixth quarter in a row last month.
Monday, November 07, 2011
Manchester City Centre Investment Property for Sale
Building Land for Sale, Manchester
Piccadilly Village
Store Street
Manchester
Greater Manchester
M1
Gross Site Area: 7480 sq/ft*
£ 150,000
Freehold
The land is situated adjacent to Store Street on the edge of Manchester City Centre approximately 350 yards north east of Piccadilly Railway Station. Access to Store Street is from London Road (A6)
The plot can be found on the southern side of Store Street in the City Centre and is also near to the Grade II* listed Store Street aqueduct. The site is currently vacant and is approximately 3 metres higher than the level of Store Street (approximately 1 storey level).
The GSA is approximately 0.17 acres is landlocked on 3 sides with its fourth side fronting onto Store Street.
Planning permission had previously been granted for the construction of 16 luxury apartments in one block. That consent has now lapsed however details can be found at www.manchester.gov.uk (Ref: 070326/FO/2003/C3).
Investment Property for Sale, Manchester City Centre
Wednesday, November 02, 2011
West Hampstead Freehold Property Show Day
Kings Gardens, West Hampstead, London, NW6 £499.950
SHOW DAY SATURDAY 5th NOVEMBER
A well-proportioned three double bedroom flat, set on the ground floor of this attractive mansion block.
The property is situated within easy walking distance of West Hampstead's Jubilee Line, Thames Link and North London Over Ground Stations.
The flat offers a bright reception room with wooden flooring, 15ft kitchen with a full range of fitted appliances, master bedroom with en-suite bathroom, two further double bedrooms and a bathroom comprising of a modern four piece white suite.
Further benefits include carriage drive way, recently redecorated block, porter, communal gardens, share of the freehold and no upper chain.
West Hampstead Mansion Block Property for Sale
Monday, October 31, 2011
Home Track House Price News for October
Reuters is reporting that the fall in house prices in England and Wales accelerated in October as consumers become increasingly worried about the outlook for the economy and shy away from buying homes, property data firm Hometrack said.
Average prices dipped 0.2 percent on the month compared to falls of 0.1 percent in each of the five preceding months, Hometrack said. House prices were 2.8 percent below the October 2010 level.
"Growing consumer concern over the outlook for the economy is beginning to impact directly on house prices," Hometrack Director of Research Richard Donnell said in a statement.
As in previous releases, the survey showed large regional differences, although prices stalled even in London after rising for seven months in a row.
"The evidence is clear that buyers are drifting away from the market in the face of weak consumer confidence and concerns over the prospects for the economy and their household finances," Donnell said.
Hometrack said that while demand eased, supply had grown by 11 percent over the past six months. "The balance between supply and demand is clearly shifting and points to an acceleration in price falls in the coming months," Donnell said.
Average prices dipped 0.2 percent on the month compared to falls of 0.1 percent in each of the five preceding months, Hometrack said. House prices were 2.8 percent below the October 2010 level.
"Growing consumer concern over the outlook for the economy is beginning to impact directly on house prices," Hometrack Director of Research Richard Donnell said in a statement.
As in previous releases, the survey showed large regional differences, although prices stalled even in London after rising for seven months in a row.
"The evidence is clear that buyers are drifting away from the market in the face of weak consumer confidence and concerns over the prospects for the economy and their household finances," Donnell said.
Hometrack said that while demand eased, supply had grown by 11 percent over the past six months. "The balance between supply and demand is clearly shifting and points to an acceleration in price falls in the coming months," Donnell said.
Thursday, October 27, 2011
Bootle Property With Planning for Sale
Merseyside Investment Property For Sale
Claremont Villas
Merton Road
Bootle
Merseyside
L20
GIA: 8866 sq/ft*
£ 185,000
Freehold
The property is located on Merton Road a predominantly business district which includes a number of government departments, Sefton Council, Sefton Town Hall and Sefton Magistrates Courts. Liverpool City Centre is approximately 3 miles to the south and Bootle Oriel Road Station is also with walking distance.
The property comprises of large office accommodation (8,866sq.ft) and was originally a pair of period semi detached houses which could be reinstated (STPP)
The property benefits from disabled car park, main reception, office suites, boardroom, kitchenette, male and female WCs, access leading to basement storage.
To the first floor there are further offices with male and female WCs and to the second floor there are further offices / storage, open plan meeting rooms, kitchenette.
At the rear of the building is a large garden providing parking for approximately 40 vehicles with potential for future development.
The property is offered for sale with vacant possession.
Freehold Development Property for Sale, Bootle, Merseyside
Tuesday, October 25, 2011
Kent Investment Property for Sale, Birchington
Kent Property With Planning
Birchington
The Square
Birchington
Kent
CT7
Net Saleable: 4879 sq/ft*
£ 340,000 Freehold
Birchington is a quiet popular Town located on the Kent North Coast. This development opportunity is situated at the rear of 8-10 Birchington Square and is a few minutes walk to the local shops, bus routes, railway station and local amenities.
Full planning permission has been granted for the conversion of existing outbuildings into 2 residetial dwellings and the erection of 4 new build houses.
All 6 houses will benefit from 2 bedrooms and off-street parking.
Net saleable approximately 4,879sq.ft
Kent North Coast Property for Sale
Monday, October 24, 2011
London Property Investment is a Safe Bet
Property in London continues to be a safe bet for investors as overseas demand is helping to keep the market stable, it has been revealed.
Selwyn Lim, director of Mouseprice, said the ongoing robust nature of the London market can be attributed to the city's position as a globally-renowned cultural and business centre, with the capital continuing to outperform the rest of the UK in terms of its ability to recover from the financial downturn.
"London has always been a unique case in that the supply and demand of property in London is [affected] by overseas cash and lots of overseas buyers," he commented.
According to figures published by Rightmove, the gulf in north-south average asking prices is now the highest it has ever been.
The firm revealed average prices in the south of England (£336,743) are now more than double those seen in the north (£164,347).
Selwyn Lim, director of Mouseprice, said the ongoing robust nature of the London market can be attributed to the city's position as a globally-renowned cultural and business centre, with the capital continuing to outperform the rest of the UK in terms of its ability to recover from the financial downturn.
"London has always been a unique case in that the supply and demand of property in London is [affected] by overseas cash and lots of overseas buyers," he commented.
According to figures published by Rightmove, the gulf in north-south average asking prices is now the highest it has ever been.
The firm revealed average prices in the south of England (£336,743) are now more than double those seen in the north (£164,347).
Friday, October 21, 2011
Aylesford Property for Sale, Kent
Kent Property in Conservation Area
Aylesford
High Street
Aylesford
Kent
ME20
£ 700,000
Freehold
Business Centre for sale in the Medevial Village of Aylesford on the banks for the River Medway.
The property is situated in a Conservation Area and is situated close to numerous eateries, coffee shops, a post office and primary school. Outside the village is Aylesford Secondary School, retail park and a supermarket.
Aylesford has its own train station and has road links to both the M2 and M20 motorways with links to London.
A planning application has been made for a change of use to residential (10 'private' flats) and both conditional or unconditional offers are invited. This comprises of a conversion of the existing business centre and public house and erection of an additional floor.
Property for Sale Kent
Monday, October 17, 2011
Property Investment Rising Despite Global Economy
Propertywire reports that global investment in real estate is holding up well despite the economic growth concerns with transaction volumes up 36% in the third quarter of 2011 compared with the same period in 2010.
Volumes totalled US$99 billion according to the latest figures from Jones Lang LaSalle. In the first nine months of 2011, investment activity increased by 43% with total transaction volumes amounting to US$297 billion, compared to US$208 billion in the same period last year.
Despite heightened economic and sovereign debt concerns, European transaction volumes have held up well, with a total of $US41 billion in the third quarter, an increase of 14% on the last quarter and a 38% rise on the third quarter 2010.
The UK, the largest market in Europe, saw a marked improvement in the third quarter 2011, in part due to deal completions delayed from the second quarter. Germany, France, Scandinavia, Poland and Russia all continue to attract strong investor interest, with safe haven status and relative GDP growth considerations prevalent.
In Asia Pacific, transaction volumes amounted to $US20 billion in the third quarter. This represents an 8% rise on the previous quarter and a 3% increase on the third quarter 2010. The deal volume for China’s direct commercial property investments rose to approximately $US2.8 billion, up 13% on last year. Japan the largest Asian market, saw volumes rise to over $US4.7 billion, in line with the same quarter in 2010, as the markets recovered following the tsunami and earthquake earlier in the year.
The Americas saw a slowdown in the third quarter with volumes down 22% compared with what was a very strong second quarter. Investment reached $US38 billion, up 60% on the same period last year.
Volumes totalled US$99 billion according to the latest figures from Jones Lang LaSalle. In the first nine months of 2011, investment activity increased by 43% with total transaction volumes amounting to US$297 billion, compared to US$208 billion in the same period last year.
Despite heightened economic and sovereign debt concerns, European transaction volumes have held up well, with a total of $US41 billion in the third quarter, an increase of 14% on the last quarter and a 38% rise on the third quarter 2010.
The UK, the largest market in Europe, saw a marked improvement in the third quarter 2011, in part due to deal completions delayed from the second quarter. Germany, France, Scandinavia, Poland and Russia all continue to attract strong investor interest, with safe haven status and relative GDP growth considerations prevalent.
In Asia Pacific, transaction volumes amounted to $US20 billion in the third quarter. This represents an 8% rise on the previous quarter and a 3% increase on the third quarter 2010. The deal volume for China’s direct commercial property investments rose to approximately $US2.8 billion, up 13% on last year. Japan the largest Asian market, saw volumes rise to over $US4.7 billion, in line with the same quarter in 2010, as the markets recovered following the tsunami and earthquake earlier in the year.
The Americas saw a slowdown in the third quarter with volumes down 22% compared with what was a very strong second quarter. Investment reached $US38 billion, up 60% on the same period last year.
Thursday, October 13, 2011
Buy to Let Investment News: Buy to let mortgage rates 'fall in last 12 months'
People who need to secure buy to let funding in order to expand their portfolio might be pleased to hear that average mortgage rates have fallen in the last 12 months.
Research from Defaqto revealed that the average two-year fixed rate for a buy to let mortgage at 75 per cent loan to value has dropped from 5.78 per cent in September 2010 to 4.86 per cent last month, while three-year product have seen average rates fall to 5.56 per cent from 6.03 per cent last year.
However, those looking to buy flats and houses for sale in Mapesbury, London, in order to rent to tenants will still find a buy to let mortgage is significantly pricier than an equivalent residential mortgage.
Defaqto insight analyst for banking David Black commented: "People should factor mortgage fees into their calculations as, like the interest rate, they tend to be much higher for buy to let mortgages than for residential mortgages, and can make a real difference to the overall cost of the mortgage."
Buy to Let Investment News
Research from Defaqto revealed that the average two-year fixed rate for a buy to let mortgage at 75 per cent loan to value has dropped from 5.78 per cent in September 2010 to 4.86 per cent last month, while three-year product have seen average rates fall to 5.56 per cent from 6.03 per cent last year.
However, those looking to buy flats and houses for sale in Mapesbury, London, in order to rent to tenants will still find a buy to let mortgage is significantly pricier than an equivalent residential mortgage.
Defaqto insight analyst for banking David Black commented: "People should factor mortgage fees into their calculations as, like the interest rate, they tend to be much higher for buy to let mortgages than for residential mortgages, and can make a real difference to the overall cost of the mortgage."
Buy to Let Investment News
Wednesday, October 12, 2011
Essex Development Land For Sale, Laindon, Basildon
Basildon Freehold Development Site For Sale
Basildon
Roberts Road
Laindon, Basildon
Essex
SS15
Net Saleable: 5675 sq/ft*
£ 375,000
Freehold
The development is located in the Essex Town of Laindon near Basildon and can be found on Roberts Road.
This cleared site is situated in a residential area and offers easy access to the local shops and amenities.
Planning permission has been granted for the construction of 10 luxury apartments with associated off-street parking.
The Laindon Railway Station and A127 are within easy reach.
The site measures approximately 12,000sq.ft.
Laindon Site with Planning for Sale, Basildon
Monday, October 10, 2011
Bristol Property With Planning Permission for 9 Houses
Bristol Freehold Site With Planning For Sale
Barrowmead Drive
Bristol
Somerset
BS11
Net Saleable: 9266 sq/ft*
£ 295,000
Kings Weston is located on the outskirts of Bristol, just 6 miles North West of Bristol City Centre.
The area is convenient for easy access to the M5 motorway (Junc 18) Temple Mead Railway Station and Bristol Airport is approx 12 miles away.
Full planning consent has been granted for demolition of the existing public house and for the construction of 9 houses (8x3beds & 1x4bed) and associated parking.
The houses will comprise of 1 x 4 bed unit 106.9sqm, 5 x 3 bed units 94.8sqm and 3 x 3 bed units 93.3sqm.
Net saleable 9,226 sq.ft
Somerset Site With Planning, Kings Weston, Bristol
Friday, October 07, 2011
Wolverhampton Site With Planning For Sale, West Midlands
West Midlands Property With Planning For Sale
Hare & Hounds
Stow Heath Lane
Willenhall
West Midlands
WV1
Gross Site Area: 1.6 acres*
£ 595,000
Freehold
Wolverhampton is located in the West Midlands approximately 15 miles north west of Birmingham. Major facilities include the Mander Centre and the Wulfrun Centre.
The development is located on Stowheath Lane a predominately residential area and connects the A41 to the A454 Willenhall Road.
Sitting on 1.65 acres this former public house has the benefit of full planning permission for the construction of an 86 bedroom care home.
West Midlands Site With Planning for HMO Care Home.
Wednesday, October 05, 2011
Clacton-on-Sea Freehold Commercial and Residential Property for Sale
Essex Seaside Property for Sale, Clacton-on-Sea
The Eldorado
Broadway
Clacton-on-Sea, Essex
CO15
Ground floor footplate: 2830 sq/ft*
£ 395,000
Freehold
The property is located on the busy main seafront of Jaywick which boasts beautiful beaches and is positioned on the outskirts of Clacton-on-Sea.
Operating from a substantial and well presented three storey detached premises the business and private dwellings are of considerable size and quality.
On the ground floor is an amusement arcade & Social Club and the first floor comprises of a snooker club.
The top floor is a 4/5 bedroom self contained apartment which benefits from a private roof terrace. This flat is currently let at a discounted rate of £850.00 pcm.
The property represents excellent value for continued licensed use / owner occupation. There is also enormous potential for redevelopment (residential / commercial / mixed use) subject to gaining the appropriate Local Authority consents.
We are advised that the Business Rates currently stand at approximately £6,290 per annum and the Council Tax is £725.
Clacton-on-Sea Investment Property for Sale
Monday, October 03, 2011
Ramsgate Property with Planning for Sale
Kent Development Property for Sale
Belmont Road
Ramsgate
Kent
CT11
Gross Site Area: 3514 sq/ft*
£ 250,000
Freehold
Ramsgate is a seaside town in the district of Thanet on the Kent East Coast.
The development is located on Belmont Road in the popular Ellington area of Ramsgate close to the Town Centre, Ellington Park and Mainline Station (British Rail)
Belmont Road is a quiet street off the High Street and is a short walk to the sea.
Planning permission has been granted for the demolition of the existing building and construction of a new block to provide 8 apartments (5x1beds & 3x2beds) and associated parking.
Approximate net saleable 3,750 sq.ft (348.4 sq.m)
Kent Property for Sale with Planning for Redevelopment
Friday, September 30, 2011
Prospective Property Buyers; Act now to move before Christmas
Rightmove House Price Index Key points
New sellers’ average asking prices up by 0.7% on the month, but 3.0% down over the summer period
Two deadlines should focus the minds of frustrated sellers:
- Christmas is 98 days away but average time on the market is 94 days, so buyers and sellers need to get serious now if they are to tie up a deal before the festive season;
- first-time buyer stamp duty relief is due to finish on 25th March 2012.
Market recovery appears as far away as ever three years after the collapse of Lehman Brothers, as key metrics are little changed:
- new sellers again at 23,000 per week as lack of confidence and inability to move remains;
- prices up by 2.5% in three years, compared with 16.4% in the previous three year period;
- unsold stock per estate agency branch still stuck in the high 70s.
While new planning proposals may boost housing market activity in the longer term, initiatives supporting mortgage lending such as FirstBuy are the more immediate requirement.
Rightmove
New sellers’ average asking prices up by 0.7% on the month, but 3.0% down over the summer period
Two deadlines should focus the minds of frustrated sellers:
- Christmas is 98 days away but average time on the market is 94 days, so buyers and sellers need to get serious now if they are to tie up a deal before the festive season;
- first-time buyer stamp duty relief is due to finish on 25th March 2012.
Market recovery appears as far away as ever three years after the collapse of Lehman Brothers, as key metrics are little changed:
- new sellers again at 23,000 per week as lack of confidence and inability to move remains;
- prices up by 2.5% in three years, compared with 16.4% in the previous three year period;
- unsold stock per estate agency branch still stuck in the high 70s.
While new planning proposals may boost housing market activity in the longer term, initiatives supporting mortgage lending such as FirstBuy are the more immediate requirement.
Rightmove
Thursday, September 29, 2011
Cambridgeshire Development Opportunity for Sale
Cambridgeshire Property for Sale
St. Neots
High Street
St. Neots
Cambridgeshire
PE19
Gross External: 25500 sq/ft*
£ 850,000
This development opportunity is located in the affluent Cambridgeshire Town Of St Neots and is conveniently situated within easy walking distance of both the busy High Street (B1428) and the River Ouse.
The A1 motorway and St Neots Railway Station offer great access into London.
Planning permission has been granted for the part conversion part new build of this former storage and workshops to create 24 residential dwellings and 3 commercial units.
In addition, there is no affordable housing required throughout the development, however there is a S.106 contribution.
St Neots Freehold Property for Sale
Tuesday, September 27, 2011
Herne Bay Property With Planning, Kent
Kent Freehold Property for Sale, Herne Bay
Herne Bay
Central Parade
Herne Bay
Kent
CT6
Net Saleable: 6380 sq/ft*
£ 925,000
Freehold
Located on the Kent North Coast lays the picturesque seaside Town Herne Bay. With over 2 miles of seafront and golden beaches the town is a popular holiday destination.
The development is situated on Central Parade at its junction with Market Street and is directly opposite the sea. The locations also offers easy access to the main line station, sea front, Herne Bay Town Centre and other local amenities.
Planning permission has been granted for the construction of a ground floor commercial unit (A3) and 9 luxury apartments above (7x2 beds & 2x1 beds)
The seller has started some of the construction.
Kent Property with Planning for Commercial and Residential Development
Sunday, September 25, 2011
Tring Warehouse With planning for Sale
Hertfordshire Freehold Property for Sale, Tring
Dixon’s Wharf
Dixon’s Gap
Wilstone, Nr Tring
Hertfordshire
HP23
Gross Site Area: 3.95 acres*
£ 1,000,000
Freehold site of approximately 3.95 acres currently occupied by a large single storey warehouse building.
Dixons Wharf is approximately 14 miles from Junction 20 of the M25 and can be reached in under 20 minutes even during rush hour as the A41 Dual Carriage way gives quick access and traffic flow is moving in the opposite direction. Tring Station is 3 miles from Dixons Wharf and has direct access to London Euston (35 mins), Watford Junction (15 mins), Milton Keynes Central (22 mins) and Birmingham New Street (1h 29 mins).
Dixons Wharf has easy access to several local village pubs and will benefit from an on-site catering facility. There is sufficient car parking for everyone on site, including visitors, and all this comes with the added benefit of outdoor seating areas which are ideal for informal meetings in the sun.
The site benefits from planning permission for a new B1 office development which was granted in July, 2009. This planning permission was for 2,739 sqm of Class B1 office floorspace. The approved commercial scheme reflected the layout of the exisitng building footprint and proposed 16 separate commercial units within 4 blocks. The scheme utilised the existing access off Wingrave Rd.
The site is now considered suitable for residential development and a number of reports have been carried out in this respect. Our client is looking at an outright unconditional immediate sale of the site or a partner with expertize in the matter to tackle a 'subject to planning' for residential application.
Further information is available upon request.
Freehold Property With Planning for Sale, Tring, Hertfordshire
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