Property Market Trends and Portents: What Should Home-owners Expect?

Property Market Trends and Portents: What Should Home-owners Expect?

After more than six months of concerted growth at the beginning of 2014, the housing market has cooled somewhat in recent times. After concerns that a new bubble may be about to form in the market, property prices have stagnated and even started to fall in the third financial quarter. This trend is set to continue for the last three months of the year at least, with the latest survey from the Royal Institute of Chartered Surveyors (Rics) showing a -18% balance in respondents reporting a rising demand for housing in the UK.

Although this sudden dip in growth has caused consternation among home-owners and potential buyers, it is unlikely that it will continue indefinitely. Even with the UK economy expected to grow at a consistent rate during 2015 and beyond, however, it is still worth considering the trends that will impact on the property market going forward.

 3 Property Market Trends to Consider

 With this in mind, let’s take a look at some of the real estate trends that we are likely to encounter in the fourth financial quarter and 2015. These include: -

 1.1       A Rise in UK Construction Output

 There is a strong link between real estate growth and the construction sector, and both are considered as being key engines of economic expansion. Given the recent stagnation, it was therefore surprising that construction output rebounded in September, recording growth of 1.8% following a 3% contraction in August. Not only does this underline the value that public sector projects can add to the market, but also the fact that the property sector is built on solid foundations.

1.2      Growth in the Buy-to-let Marketplace

While the property market has shown excellent resilience in recent times, the slowdown in price hikes has also triggered growth in the lucrative buy-to-let market. As a growing number of individuals find themselves priced out of the UK market, many turn to rental properties as a way of sourcing accommodation. This has created rising demand and enabled landlords to raise their prices, with the cost of agreeing a new tenancy having soared by 3.7% during the last year alone. This trend is set to continue for the rest of the year at least, so aspiring landlords and realtors such as Featherstone Leigh may wish to capitalise on this.

 1.3.      London will Remain Decoupled from the UK Economy

 Throughout the course of the last property market boom, London prices and trends decoupled from the rest of the UK and this trend is likely to remain for the foreseeable future. One of the primary reasons for this is London’s emergence as a global icon in the real estate market, which means that it benefits from overseas investment in a way that other geographical regions do not. It is considered to be something of a safe-haven for international property investors, and while this is good news for the economy it means that the capital does not provide a true barometer for the real estate landscape as a whole.

 

From Vickie Harrison

How to Protect yourself as a Private Landlord

How to Protect yourself as a Private Landlord

 According to recent statistics, an estimated 1.4 million people now own property that they let for income in the UK. This number has risen steeply during the last eighteen months, as soaring property prices have forced many aspiring buyers out of the market and encouraged them to seek out rental homes.

While the demand for rental properties may be triggering an increase in the number of buy-to-let landlords, however, it is important that these individuals study the market carefully before making a commitment. This will ensure that they can recognise risks and protect themselves and their capital at all times.

 How to Protect yourself as a Landlord in 3 Easy Steps

 With this in mind, let’s take a look at the ways in which novice private landlords can protect themselves in the buy-to-let market. Consider the following ideas: -

 1.      Invest in Specialist Landlords Insurance    

 Surveys can offer an accurate and surprising insight into the mind of buy-to-let landlords, especially those who are new to the market. Some studies have suggested that as many as 30% of existing UK landlords have admitted to using their home insurance rather than specialist landlord coverage. This represents a huge error in judgement, and one that can cost you considerable sums of money over time. To avoid this, consider partnering with a reputable and specialist service provider such as UK Internet Insurance and negotiating a policy that suits your precise needs.

 2.       Create a Safe and Compliant Home

As a private landlord, you are legally responsible for creating a safe and compliant living environment for tenants. This applies whether you own one or multiple properties, and it is particularly important that you inspect your gas and electric sources in addition to wiring and individual appliances. Not only must the work be carried out by industry accredited tradesmen, but private landlords also need to adopt a proactive approach to conducting annual inspections. Without this, you may place the well-being of your tenants at risk and risk long-term damage being caused to your properties.

 3.      Follow Energy Efficiency Legislation

 On a similar note, the nationwide drive to implement sustainable living measures has forced private landlords to equip their properties with Energy Performance Certificates (EPC). This is a form of accreditation that evaluates your homes’ level of energy efficiency, using factors such as fuel consumption and insulation to create an overall rating. ‘Band E’ is the average rating in the UK, and you should aim to achieve this as a benchmark when remodeling your properties. This not only enables tenants to reduce their outgoings and encourages rising levels of demand for your properties, but it also reduces the cost of future proofing your home at a later date.

 

From Vickie Harrison

Will Real Estate Represent a Viable Investment in 2015?

Will Real Estate Represent a Viable Investment in 2015?

 If you were an investor looking to diversify your existing portfolio in 2015, the current economy may serve as something of an enigma. While consumer confidence and business spending may have dipped slightly at the start of the final financial quarter, for example, in the three months prior these factors drove GDP growth of 0.5% in the UK.

Despite this, however the overall growth rate in the UK was held back as imports rose at a significantly faster rate than exports. As exports subtracted 0.9 points from the GDP in the third financial quarter and the property market also began to cool, experts have suddenly become concerned that the economic climate will worsen before it improves in the year ahead.

 Is Real Estate a Viable Investment Option in the Current Climate and beyond?

There has always been a strong correlation between the performance of the property market and the wider economy, and this was underlined when the sub-prime mortgage collapse in the U.S. triggered the onset of the Great Recession. The psychological scars of this financial crisis continue to trouble investors to this day, with the result that many are unwilling to commit capital into such a volatile and supposedly high-risk asset. This may represent a false economy, however, especially with so many national and regional markets experiencing growth at present.

With some predicting that the UK economy will rebound and consolidate from the beginning of 2015, there is a sense that the real estate market will experience simultaneous growth. According to industry experts such as Morgan Randall, investors can expect to profit from their real estate portfolios in the next twelve to eighteen months. This may even translate into total returns of up-to 20% for investors, which would represent significant gains given the sluggish market growth of 2011 and 2012.

 The Bottom Line for Investors: Should they Sink Capital into the Real Estate Market?

 These potential returns are impressive, while it is also important to note that opportunities are accessible across both the public and private property sectors. With the construction sector also brimming with demand and experiencing significant growth, it appears as though the real estate market in the UK has finally been grounded on solid foundations.

This is perhaps the single biggest factor in the current market, as Britain has already endured a painstaking process of recovery, sluggish growth and ultimate redemption in the wake of the Great Recession. While this has been difficult, it has also been necessary to avoid the mistakes of previous governments and facilitate long-term growth. With this in mind, investors with a healthy appetite for risk may now want to consider real estate and a viable and profitable option.

From Vickie Harrison

The Legal Requirements facing Landlords and how to Meet them

The Legal Requirements facing Landlords and how to Meet them

 For those aspiring to be private landlords, the current market makes for an extremely inviting proposition. The buy-to-let market is currently riding high in the UK; with confidence soaring and plenty of demand for those who cannot afford to purchase properties. The result of this is that nearly half of British home-owners currently harbour ambitions to become a landlord in the next two years, at least according to recent studies.

 While this should come as no surprise, however, there remain concerns that the majority of aspiring landlords have significant gaps in knowledge with the regards to the buy-to-let market. Although many understand the benefits of operating as a private landlord, for example, fewer have a grasp of the associated tax requirements and implications.

 The Legal Requirements Facing Landlords: 3 Important Considerations

 With this in mind, let’s take a look at some of the pressing legal requirements that landlords must attend to if they are to comply with UK law. These include: -

 1. 1     Tenant Deposits and Short-hold Lease Arrangements

 The tenant deposit is a central feature of the buy-to-let market, and landlords must be particularly careful in terms of how they handle this capital. This is especially true if the property is let under an assured tenancy that commenced after 6th April 2007, as landlords bound by these terms are obliged by law to place all deposits in a tenancy protection scheme. There are currently three schemes that are operated in England and Wales, and you comply with this relatively new law if you are to avoid sanctions.

 1.2      Gas and Electrical Services

 Arguably the single most important law for buy-to-let landlords to follow concerns the provision of gas and electrical services.  Not only must you organise an annual inspection of your gas supply and all functional appliances, for example, but you must also ensure that this is carried out by a tradesman who is industry accredited by the Capita Group. Failure to comply with these regulations will result in criminal sanctions and a potential fine of up to £25,000. In terms of electrics, you must also complete a comprehensive inspection and safety check to the commencement of a tenancy, utilising the services of a Part P qualified electrician.

1.3.      Energy Performance Certificates

 On a final note, modern landlords are also required to provide either rental or purchase properties with up-to-date energy certification. This comes in the form of an Energy Performance Certificate (EPC), which records numerous performance factors including insulation, heating, hot water systems, ventilation and the use of fuels. The average EPC rating for a British dwelling is band E (46), and you should aim to achieve this as a minimum standard. This will not only help you to provide a compliant rental home, but it will also assist in affordably future proofing the structure over time.

 From Vickie Harrison

The Letting market in Scotland in 2014

Today Miles from Glenham Property Management provides some insight into the world of the letting market in Scotland in 2014; past present and future.

 A Place to Stay – A Place To Call Home

The Private Rented Sector has undergone major changes within Scotland following on from the Scottish Government’s strategy – ‘A place to stay a place to call home’ in 2013 and the Housing Bill which was passed in June this year. The has been crucially important and something which the sector has been pushing for as it ensures that that the whole industry works consistently and with complete professionalism.

 Scottish Government Consult on a new Tenancy for the Private Rented Sector

Following on from the Housing Bill the Scottish Government has just launched this month a consultation on proposed reforms to the Private Rented Sector Tenancy in Scotland. The stated aims of the proposed reforms are to improve security of tenure for tenants whilst giving suitable safeguards for landlords, tenants and investor. You can read the full document here http://www.scotland.gov.uk/Resource/0046/00460022.pdf

Welcome Changes

For all agents and professional landlords most changes and upcoming proposed changes have been met positively and with the PRS growing at over 6% per annum in Scotland since 2001 it is critical to have a consistent level of standard to satisfy a new generation of tenant and as long as more changes are made with due thought for all stakeholders in the PRS we can look forward to an industry which meets the needs of all stakeholders for years to come.

Repairing Scotland Regulations

There have been changes to The Repairing Standard Regulations with the requirement for interlinked mains wired smoke detectors in all let properties. This is a significant change and all properties regardless of age need to comply. We also have the directive regarding Legionella testing, again with all landlords now needing to carry out due diligence.

 Accidental Landlords

Now that the recession has recovered we have seen the volume of accidental landlords decrease, however Scotland and especially Edinburgh continues to be an excellent place to invest with yields of 6%-8% on new purchases and leveraged returns of 12% per annum which is far and away higher than other forms of investment.

Property for sale in Tunmarsh Lane, London, E13 9NF

You can expect this a couple of bedroom mid terraced residence currently organized as a 3 bedroom. situated on the well-known New Town Estate it truly is conveniently positioned near local shopping plus transport amenities. Property offers two receptions, ground floor bathing room, double glazed window`s, fuel central heating plus spacious backyard.


ETRANCE
Through hard wood doorway to;

RECEPTION — 11`4 (3. 45m) by 10`6 (3. 2m)
Twice glazed gulf window to be able to front, radiator and energy point.

RECEPTION : 10`5 (3. 18m) by 10`8 (3. 25m)
Dual glazed windowpane to rear, storage coupbard, radiator in addition to power factors

KITCHEN – 9`3 (2. 82m) x 7`7 (2. 31m)
Range of wall structure and foundation units, function top areas incorporating stainless steel single drain drainer unit, space for washing mashing, cooker, twice glazed windows to back door to;

RESTROOM
Tilled ground, panelled bathroom, double glazed window to rear, financial institution fun and entrance to;

TOILET
Low level W. C, part reguraly hoed

MASTER BEDROOM – 14`0 (4. 27m) x 9`5 (2. 87m)
Double glazed window to be able to front, rad and strength point,

BEDROOM – 7`4 (2. 24m) x 7`0 (2. 13m)
Dual glazed windows to backside and power point

BEDROOM — 6`9 (2. 06m) x 9`8 (2. 95m)
Double glazed windowpane to backside, radiator and power stage

BACKYARD
Approx 30ft

Discover
Please note we now have not tested any device, fixtures, fittings, or providers. Interested parties must carry out their own exploration into the functioning order of those items.

SOURCE: View the Tunmarsh Lane, London, E13 9NF property

Property for sale in Glenganock Avenue, Isle Of Dogs, E14 3BP

Albany Residential offers for sale this specific two double bedroom next floor ex lover local expert maisonette. With in walking range to Tropical isle Gardens DLR station in addition to Millwall Fun Park and Mudchute Town Farm. Property spacious lodging consists of big reception, a couple of double rooms and very great size kitchen area also taking advantage of double glazed windows, gasoline central heating along with a long lease contract.

ACCESS
Via wood door to;

HALL
Stairs to be able to upstairs, rad, under stairways storage wardrobe and door to;

KITCHEN : 10`3 (3. 12m) by 11`7 (3. 53m)
Double glazed windowpane to front side, range of coordinating walls plus base units, single stainlesss steel drain unit, gas cooker, oven hob, washing machine, built-in fridge freezer,

RECEPTION — 13`4 (4. 06m) by 16`3 (4. 95m)
Double glazed windowpane to back, laminated solid wood floor, radiator and energy points

BEDROOM : 11`5 (3. 48m) x 9`5 (2. 87m)
Two double glazed window, rad and strength points

BEDROOM : 13`9 (4. 19m) by 8`4 (2. 54m)
A couple of double glazed window to rear, radiator and energy points

BATHROOM
Tilled floor, panellled bath, low-level W. C, pedestal clean hand base unit, extractor fan

Notice
Take note we have not necessarily tested any apparatus, fittings, fittings, or even services. Fascinated parties should undertake their own investigation to the working order of these things. All measurements are estimated and photographs presented to guidance simply.

SOURCE: View the Glenganock Avenue, Isle Of Dogs, E14 3BP property

Property for rent in Rainham Road South, Dagenham

Amazing newly renovated studio flat close to Dagenham East place, RM10

This particular studio has recently been renovated and restored to a higher stantard, typically the studio is found on the ground floor and includes its very own garden. The home benefits from totally free parking, twice glazing plus gas central heating.

The home is near to local facilities and a brief walking length to Dagenham East place.

Viewings for this is recommended, please call Albany to arrange the viewing




Observe
All pictures are provided with regard to guidance simply.

SOURCE: View the Rainham Road South, Dagenham property

Property for rent in Hayes Drive, South Hornchurch

: newly renovated
– extended kitchen/diner
: fully installed wardrobes
– ground floor WC
– first floor bathing room with shower and bathtub cubicle
– car port
– driveway with regard to 3 cars
— newly constructed brick safe-keeping behind the particular garage
– near to TESCO
— bus quit a minute aside, Elm Recreation area and Hornchurch stations close by
: next to region park
– Available 1st Dec 2011



Notice
Just about all photographs are supplied for assistance only.

SOURCE: View the Hayes Drive, South Hornchurch property

Property for rent in Valence Avenue, Dagenham

: newly renovated
– new twice glazing
– 3 bedrooms —
– 2 WCs
– bathing room – beginning
: large lounge room – through lounge
– great size kitchen
— front plus back garden
– portion furnished
– obtainable immediately
– DSS with guarantor welcome


Discover
All pictures are provided with regard to guidance just.

SOURCE: View the Valence Avenue, Dagenham property