Written By Em

Em

Em Morley

New London Properties to Consider this Autumn

London is experiencing a surge of regeneration at present, fuelled by the huge infrastructure project, Crossrail.

With the new rail network has arrived a wave of many new property developments, offering investors and homebuyers plenty of choice in the capital.

Not only are these schemes in up-and-coming areas, but they are often joined by community-based projects from planners, who create assets such as riverfront promenades or parks.

Take a look at the developments to look out for this autumn:

Richmond Hill

The Star and Garter in Richmond Hill is surrounded by the huge Richmond Park, with 2,500 acres of green, plus a river promenade and beautiful views from the hill.

A total of 86 luxury apartments have been built among terraced gardens and grounds, overlooking the River Thames and Petersham Meadows.

The building used to be a convalescent home for soldiers returning from the First World War, dating back to 1916. Formerly, it was a hotel used by royalty, artists and writers, including Charles Dickens.

The marble hall with a grand staircase welcomes residents and the restored King’s Room will be a spa. Apartments are priced from £1.2m.

South Bank

The redevelopment of the Shell Centre at South Bank brings with it 877 new homes to a five-acre site between the London Eye and Royal Festival Hall.

The first phase, One York Square, is the tallest of seven new buildings surrounding the Shell office tower. The project also includes a new square and improved public spaces.

Architects Squire and Partners were given the task of keeping in with the original design, and have created a clean, stone façade with intricate bronze detailing.

Apartments have full-height glazed windows and most are double-aspect. The new 36-storey tower is topped by a four-storey “lantern”1, which includes four penthouses. Prices start at £540,000.

Blackfriars and Docklands

A wide European-style street running from the Thames to Elephant and Castle has become a property hotspot after years of being rundown. Blackfriars Road is the main section of the new cycle superhighway to King’s Cross, and several new housing projects are being formed alongside the route.

Blackfriars Circus is a Barratt Homes development of 336 homes. Old office blocks are making way for stylish new apartments. This rejuvenated part of SE1 is believed to be a great investment opportunity, cheaper than Borough and Bankside.

The area has an urban mix of residential property, including swish riverside flats, attractive Victorian terraces, charitable housing, looked after council estates, warehouse lofts and live-in offices for creatives. Homes start at £490,000.

The Madison is a 53-storey tower designed by famous architects Make. Inside are 423 apartments at West India Docks, alongside Canary Wharf. The slim skyscraper enables 70% of the site to be public space and gardens. Properties are priced from £460,000.

Highgate and St John’s Wood 

Expect competition from other buyers at One Highgate, as the project has just 15 two and three-bedroom apartments in a redbrick mansion block with underground parking, a concierge and swimming pool. Prices start at £1.6m.

St John’s Wood is as village-like as the capital gets. It’s single high street with cafes, boutiques and bistros brings in residents from the surrounding district.

And Regent’s Park is on the doorstep. The local conservation society keeps developers off the area and Lord’s Cricket Ground is nearby.

Within the area is 15 Grove End Road, a small scheme of four elegant apartments, plus a duplex penthouse. If residents arrive by car, they are escorted at the touch of a button to the underground car park. Homes are priced from £3,295,000.

Fitzrovia 

Previously a bohemian spot, Fitzrovia is becoming upmarket as property spreads out of Marylebone.

The Fitzbourne is a tasteful renovation of a classic Victorian redbrick block that now includes two triplex penthouses with terraces and views of the BT Tower. Prices start at £2,995,000 for the large apartments.

Hurlingham Walk has 68 apartments on offer, located between the Thames, Hurlingham Club and Parsons Green in Fulham. Mid-rise, brick-façade blocks are set around landscaped courtyards. The homes are stylish, yet functional, with full-height windows and doors that open out onto large balconies. Also available is a porter, 24-hour security and gated underground parking. Properties start at £695,000.

1 http://www.homesandproperty.co.uk/property-news/new-homes/get-quick-new-london-homes-you-need-know-about-autumn

Honest Advert for London Flat

Published On: September 10, 2015 at 3:35 pm

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Categories: Landlord News

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Londoners are used to sky-high rents, rogue landlords and squeezed living spaces, but they maybe aren’t used to such honest advertisements as this one…

Earlier this week, an advert was placed on Gumtree for a flat in Mile End, titled “S*** room to rent in East London!!!”

It goes on to say that the apartment has three rooms priced at £120 per week.

Before it was taken down, the ad read:

“This property has to offer 3 s*** double rooms available for single person or couple.

“The rooms are fully furnished. Very clean, and tidy.

“The wardrobe is broken on the top, the mattress doesn’t match with the base.

“Obviously, if you’re interested we will change everything for you. The flatmates are all professional between the ages of 20-30.”1

The letting agent, Luis Swarovski, says: “I described it like that because of the present condition.

“Obviously if someone moves in it will not be like that anymore.”1

1 http://i100.independent.co.uk/article/londons-property-market-isnt-even-trying-anymore–Z1rg4ZRb1Ug?utm_source=indy&utm_medium=top5&utm_campaign=i100

Top places for university property investment revealed

Published On: September 10, 2015 at 2:44 pm

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Categories: Landlord News

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With the new academic year here once again and with many students returning to University for another semester full of hard ‘work, leading online estate agent eMoov.co.uk has uncovered the best locations to invest in a student property.

e.Moov’s University Property Index gives each university an index score assessed on how they perform against the average UCAS entry requirement in relation to the typical average property price in the area.

Northern rules

Results from the investigation show that the North of England and Scotland are top of the list, with eight of the top ten scoring universities. A UCAS entry level requirement of 547 points, coupled with an average property cost of £214,735 sees Durham top the list, with an eMoov index score of 102.[1]

Coming in second was Strathclyde with an index score of 96. Manchester took the final podium position with 90, with Edinburgh (89) and Warwick (84) making up the top five.[1]

Nottingham (84), Lancaster (83), Leeds (82), St Andrews (80) and Aberdeen (79) completed the top-ten. However, the soaring prices of property in London has seen its universities fair poorly in the Index. Of 117 universities involved in the study, 15 of the 17 outside of the top 100 are located in the capital.[1]

Just four of London’s universities made it into the top 100, but interestingly, were all awarded a negative index score. The universities were namely Queen Mary’s in 94th place and with a score of -30, the London School of Economics (96th, -37), East London University (96th, -37) and Kings College London (100th, -74).[1]

Bottom of the class

At the other end of the scale, the worst performing University in the Index was the Imperial College London, despite having a large UCAS entry points requirement of 568. The colossal property prices in London SW7 gives the University a cost per entry point of £3,361, 368% more than the study average. This results in an eMoov Property Index total of -309%.[1]

The age-old battle between Oxford and Cambridge saw the former come out on top, ranking at number 13 with Cambridge lagging behind in 19th.

Another survey of 1,000 homeowners from eMoov found that 70% would be interested in buying a solid investment property, if it meant their child could establish themselves on the property ladder.[1]

Top places for university property investment revealed

Top places for university property investment revealed

Costly

‘Sending your kids off to university can be a joyful occasion for many parents and is often the first time they fly the nest to fend for themselves,’ observed Russell Quirk, founder and CEO of eMoov.co.uk. ‘What with the recent increase in university fees and the cost of living, it can also be an extremely expensive time for parent and student alike, as the debt begins to pile up.’[1]

Quirk believes that, ‘this study shows which universities offer the best level of degree, but also an affordable property price, should you want to invest in a house for your child, or even as a uni-let for yourself.’[1]

Concluding, Mr Quirk said that, ‘students are certainly an easy target where the high street letting agent is concerned and it is common practice for agents to strip them of their hefty deposits, for even the most minor of reasons. Not only does buying a university property avoid this but it also provides a future home should they stay in the chosen city for work, or a great money making opportunity renting to future students.’[1]

The top-twenty universities in the Index were found to be:

eMoov Index Rank Institution Average House Price Average UCAS Entry Point Property Price Per Entry Point eMoov Uni Property Index
1 Durham  £214,735 524  £      409.49 102
2 Strathclyde  £161,099 476  £      338.16 96
3 Manchester  £126,212 435  £      290.08 90
4 Edinburgh  £203,958 484  £      421.31 89
5 Warwick  £223,314 482  £      463.11 84
6 Nottingham  £138,972 428  £      324.93 84
7 Lancaster  £ 153,591 436  £      352.52 83
8 Leeds  £152,349 431  £      353.23 82
9 St Andrews  £305,294 517  £      590.17 80
10 Aberdeen  £186,733 446  £      418.31 79
11 Newcastle  £ 156,318 424  £      368.41 78
12 Exeter  £222,572 463  £      480.41 77
13 Oxford  £435,590 573  £      760.72 77
14 Cardiff  £167,826 427  £      393.50 76
15 Liverpool  £ 151,077 404  £      374.14 72
16 Dundee  £160,202 410  £      391.21 72
17 Leicester  £ 141,031 386  £      365.37 68
18 York  £ 224,175 437  £      512.63 66
19 Cambridge  £568,495 602  £      944.34 65
20 Teesside  £  58,421 306  £      191.23 65

[1]

[1] http://www.propertyreporter.co.uk/landlords/where-is-top-of-the-class-for-university-property-investment.html

 

 

Zoopla Launches New Dashboard for Agents

Published On: September 10, 2015 at 2:32 pm

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Categories: Landlord News

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Today, Zoopla is launching a redesigned dashboard as part of changes to its ZooplaPro service.

The property portal says that the new dashboard will make it easier for letting and estate agents to see their properties, phone and email leads and find out what the competition is doing.

In an email to member agents, Zoopla explained: “At a glance, you’ll be able to:

  • “See how many email leads you’ve received whether valuation, sales or lettings. As well as phone calls and the percentage you’ve answered.
  • “Keep an eye on your performance in the local area, with an easy-to-read view of how you rank against competitors and if your position has changed in the last seven days.
  • “Check how many properties you’ve got on the market and see their average click through rate.
  • “See how many times your properties have shown up in search results and been viewed on ZPG’s sites.”1

1 http://www.propertyindustryeye.com/zoopla-launches-new-look-dashboard-for-agents/

Surprise Rise in House Prices, Says Halifax

Published On: September 10, 2015 at 1:34 pm

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Categories: Finance News

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House prices rose by 2.7% in August, the highest monthly increase since May 2014, according to the Halifax.

This surprise growth contributed to a 3% rise over three months and annual house price inflation of 9%. Halifax also reports that the average property price is now £204,674.

Housing Economist at the Halifax, Martin Ellis, says: “The shortage of second-hand properties for sale on the market is resulting in upward pressure on house prices.

Surprise Rise in House Prices, Says Halifax

Surprise Rise in House Prices, Says Halifax

“At the same time, economic recovery, real earnings growth and very low mortgage rates are supporting housing demand.”1

The data for August has surprised some analysts, causing the second group of leading economists in a week to change their house price predictions for 2015 onwards.

Chief Economist at IHS Global Insight, Howard Archer, called Halifax’s August figure a “real eye opener”, especially when compared to Nationwide’s statistics, which recently indicated that house prices increased by a smaller 0.3% in August.

Contrasting to the Halifax, Nationwide’s data indicates that the annual rate of house price growth was the weakest for two years in August.

IHS Global Insight has now revised its forecast on house price growth for 2015, raising it from 6% to 7%.

Archer explains: “Latest data and survey evidence largely indicate that housing market activity is on the up, and we suspect it will be supported over the coming months by largely helpful fundamentals, notably including stronger earnings growth, high employment, elevated consumer confidence and still very low mortgage interest rates.”1

The Royal Institution of Chartered Surveyors (RICS) also revealed that it has changed its UK house prices prediction, expecting prices at the end of the year to be 6% higher than at the start. Entering 2015, RICS forecast a 3% increase.

Chief Economist at RICS, Simon Rubinsohn, says: “House price inflation has now quickened in each of the last seven months following a sustained period of easing towards the latter half of 2014.

“And there is good reason for this trend to be sustained into 2016.”1

1 http://www.theguardian.com/money/2015/sep/10/uk-house-prices-for-august-though-the-roof-halifax

ARLA Requests More Time for Smoke Alarm Regulations Enforcement

The Association of Residential Letting Agents (ARLA) has called on the Housing Minister, Brandon Lewis, to reconsider the timeframe in which landlords must comply with the requirement to install smoke alarms on each storey of their rental properties and carbon monoxide alarms in rooms with solid fuel appliances.

ARLA Requests More Time for Smoke Alarm Regulations Enforcement

ARLA Requests More Time for Smoke Alarm Regulations Enforcement

ARLA’s Managing Director, David Cox, observes that the draft Smoke and Carbon Monoxide Alarm (England) Regulations 2015 could be implemented for new tenancies on 1st October, but believes there should be a deadline of 1st January 2016 for all other tenancies.

These comments arrive after the House of Lords rejected the draft regulations, with just three weeks to go before the scheduled enforcement. Read more here: /house-of-lords-rejects-smoke-alarm-law-with-just-3-weeks-to-go/

The issue will return to a full sitting of the House of Lords for discussion next week.

In a letter to Lewis, Cox states: “We fully support the principle that all tenants should benefit and expect a working smoke and carbon monoxide alarm in their property.”1

He suggests:

  • From 1st October 2015, all new tenancies should comply with the regulations, as drafted.
  • However, all existing tenancies should be allowed until 1st January 2016 to comply. Cox says that this is not to allow landlords to avoid their responsibilities, but to ensure it is practically possible to buy and install alarms in time, particularly for letting agents, who often have large portfolios of rental properties.
  • An amendment to the regulations so that landlords must ensure alarms are tested either two weeks before or after the start date of each new tenancy. For example, a tenancy commencing on 1st November 2015 must have testing completed between 18th October and 15th November 2015. He believes this allows some flexibility for the landlords that have several properties and agents who can sometimes manage multiple check-ins on the same day.

1 http://www.propertyindustryeye.com/shambles-over-smoke-alarms-in-private-rented-properties-arla-asks-for-more-time/