Stephen Moss is founder of Pring.co.uk, the UK’s biggest investment property portal. Here he talks about Government plans to introduce penalties of up to five years in prison for landlords that let properties to illegal immigrants … The residential property sector makes a valuable contribution to the nations economic life. We absorb the knocks of fluctuating interest rates, new-build shortfalls, banking collapses, economic downturns and population shifts with barely a murmur. We pay our taxes, keep our heads down, work hard and hopefully make a fair return for our efforts at the end of the day. At no point in the broad description, did anyone make any reference to being an unpaid police force or a defined and unrewarded arm of the civil service, existing for the purpose of implementing government policy. Suddenly, panic stricken by the swelling migrant crisis and stranded by the conflicting forces of public opinion and...
Leading estate agency disruptor eMoov.co.uk has received a significant boost, securing a £1.5m financing round led by London venture capital firm Episode 1.
There is growing evidence that mortgage lending activity, and the housing market, are sitting on a plateau.
With 2013 becoming a distant memory we find ourselves facing 2014 pondering the changes that will occur in the property market. Nick Carlile, Managing Director, Platinum Portfolio Builder (PPB), would like to share his predictions for the year ahead when considering UK Residential Property Investment He focuses on the key issues that concern any investors or those contemplating a move into property, which are: Price Price is always at the forefront of any investor’s mind and the subject which generates the most debate! Nicks predictions for this year are that prices in London will begin to slow down (albeit there will be some level of growth) and other areas around the UK will instead experience greater levels of growth. Geographical Areas Nick believes, that for the best investments in 2014 (which provide greater discounts, double digit yields and a good income) the best strategy is to focus further North on...
Bank of England investment Property interest rates Land lease purchase Competition Rent property investment Profit property investors property investor tenants Residential Property investor real estate landlord house property invest residential property investment lenders Petition investors yield property market Builder Lending London ONS
Capital Gain Tax – the current exemption from CGT for non-UK resident owners of residential properties will be removed. Liam Bailey, Head of Knight Frank Global Research, comments… Tax is not the primary driver for the majority of international buyers of residential property in London. We anticipate that the removal of the CGT exemption for non-resident purchasers will have only a marginal impact on demand and pricing. It is important to note that the change to CGT rules brings the UK in line with other key investor markets, such as New York and Paris where equivalent taxes can approach 35% - 50% depending on the owner’s residency status. As we noted in our recent report on International Buyers in London, while non-resident purchasers account for 28% of central London property purchases, their share of the wider Greater London market is far smaller at around 12% of all new-build property...
We have been waiting with interest to see what George Osborne was going to say in his Autumn Statement today. Opening remarks The Chancellor says Britains economic plan is working but the job is not done, we need to secure the economy for the long terms and the biggest risk to that comes from those that would abandon the plan. He says We need a plan where we dont pretend we can make things better by writing cheques to ourselves. Forecasts show the growth is up, but growth in productivity is still too low, business taxes are still too high and exports are still too low.
Success of Help to Buy could help to stabilise the highest rents. Landlord Assist says demand for the Government’s flagship Help to Buy Scheme coupled with an expected rise in interest rates could be the catalyst for the buy-to-let sector becoming more tenant-friendly. For the past few years the private rented sector has sustained a significant growth period caused by huge volumes of people opting to rent rather than buy because of difficulties in obtaining suitable finance for lenders.
The UK house market appears to have finally turned a corner! Buyers returned to the market in their biggest numbers since 2009, according to the latest RICS Residential Market Survey and during July, the amount of potential buyers seeking to enter the market grew at the fastest rate in 4-years.
London and New York remain the top destinations for the world’s ultra-high net worth individuals to live and invest in but Asian cities are fast catching up, says Knight Frank’s seventh annual Wealth Report
The Telegraph reports 1-in-10 BTL properties will be unlettable in 5-years time! In 2018 it will be an offence to let out a property within the lowest energy efficiency ratings, and from 2016 tenants can legally make reasonable requests for energy improvement measures.
London, UK – Demand for high quality commercial and residential property continues to grow across Africa on the back of the continent’s sustained strong economic growth and rising wealth, according to Knight Frank’s newly released Africa Report 2013.
Rightmove.co.uk has just released its House Price Index (HPI) for June, covering Asking Prices of residential property from 13th May to 9th June. It reports an increase in asking prices by 1.0% over the Month and +2.4% over the past year. This places the average asking price at £246,235. 3rd consectuive national high asking price - although deemed supported by the more robust souther regions. Asking prices aspirations fail to keep pace with retail price inflation London is the only inflation proof market - average 3% abover RPS since August 2007 Surge of Sellers coming to the market prior to the Jubilee break - which indicates higher asking prices are unlikely in the summer months due to the extra supply Miles Shipside, director at Rightmove comments: “While the national average price of property coming to market has set new records in each of the last three months, sellers should not break...
Major independent survey reveals tenant-tension over deposit reductions As the Tenancy Deposit Schemes continue to dominate the news agenda in the residential property industry, digital inventory platform Imfuna is today launching further findings from a major survey of landlords, lettings agents and tenants, which found that 65 per cent of tenants feel that deductions from their deposit were taken unfairly. The survey reveals the factors at play when deposits are withheld; finding that on average tenants have 80 per cent of their deposits returned, with a worrying 16 per cent of the 1,000 tenants surveyed stating that no reason whatsoever was offered for deductions. Landlords on the other hand said that they most commonly make deductions as a result of outstanding rent (70 per cent), closely followed by cleaning costs (69 per cent). Damage to the structure of the house (45 per cent), to furniture (39 per cent) and to...
The Land Registrys March HPI has just been released this week and shows a small fall in the average house price - in reality just demonstrating a flat market.
Enter our 2011 competition to win 1 place on Simon Zutshis Property Investing Quick Start Course We have 8 amazing prizes to win in the competition and this is our fantastic- 2nd Prize. 1 Place on Simon Zutshis Property Investing Quick Start seminar, specifically designed to give you all of the tools, knowledge and contracts to start finding great investment deals as soon as possible. Click here for more details. "Simon Zutshi is a financially independent, professional property investor, with 14 years experience of investing in residential property in the UK and overseas. In 2003 Simon founded the property investors network to provide a supportive environment for investors to learn more about investing with the aim of maximising their return and minimising the risks. " To be drawn in December 2011 Value: £596. All subscribers of Just Do Property are already entered into the 2011 Competition. But you can gain more entries by...
On Thursday 21st April 2011, Landlord Action, an organisation specialising in tenant eviction, and property expert and Director of Designs on Property, Kate Faulkner, will be joining forces to deliver a seminar on the possibilities and pitfalls of buy to let investments. The one day event will be held at the Holiday Inn, Kensington Forum, London.
How will future house prices go? By Alan Forsyth, Property Secrets We keep hearing about a double dip, and concerns over house values. I actually look at how resilient house prices in the UK are. Unemployment has increased by 50% over the last 3 years, credit has been slashed, and yet house prices are only down around 10% from their peak! Why are house prices so resilient? Supply and Demand Shortage of New Properties being Built The government outlined in 2006 how many houses they feel are required by 2031 - and currently nothing is yet being done to address the structural undersupply of new housing - we require 6 million additional homes by 2031 on current projections - and this will continue to support the case of longer-term price increases. So demand is huge yet supply is not nearly enough. The number of properties being built in the UK...
Shocking new figures from The Video Inventory Agency have shown that poorly prepared inventories are costing the residential property market millions every year in lost claims.
In a complete departure from the sun, sea and sand that we normally associate with overseas property investment, Id like to get you considering overseas [caption id="" align="alignright" width="299" caption="Czech Republic & Prague Location"]Czech Republic - From Sand and Sea to Spires & Suburbs investments in the same way we might evaluate any buy-to-let in the UK. In other words, a property purchased for long-term let to people who will make it their home and pay you rent to cover your mortgage, providing you with cash flow. Of course, were also looking for capital growth. What we need is a location with a very strong rental demand, a stable government, growing economy and tax advantages. We also need to be able to obtain mortgages (we still want to invest using other peoples money) at reasonable rates. So come with me now to the Czech Republic… where residential property investment is currently...
[caption id="" align="alignright" width="148" caption="So, what’s involved in becoming a new build developer?"][/caption] Since my article about new build developing last time, I’ve received a huge amount of feedback from people that are interested in finding out more about what’s involved in the developing process. However, it seems that quite a lot of people out there still think you need to have construction knowledge to become a developer… Well, let me dispel that myth once for all: you don’t need ANY construction knowledge to become a new build developer. Let me explain… I think one of the most common misconceptions amongst property folk is the distinction between a Residential Property Developer and a House Builder. Now, major House Builders, such as Barratt, handle the entire process in-house, from sourcing the land and obtaining planning, to construction and sales. Now many people presume that new build developers do the same. In fact,...