Written By Em

Em

Em Morley

Making Your Property More Peaceful

Published On: June 26, 2015 at 5:05 pm

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It is important that all homes are calm and peaceful, and that guests feel at ease in your property.

After being at work all day or looking after the children, a relaxing environment is necessary for having some quiet time.

Making Your Property More Peaceful

Making Your Property More Peaceful

Take a look at these tips to help you create an inspiring yet serene space:

  • Remember every room

As you start to think about making your home more peaceful, include every room in your plans. You could start by removing all clutter from each room of the house.

As well as being organised and clean, every room should be styled with appropriate furniture that gives a feeling of belonging.

  • Pick the right colours

Colours can change our mood and feelings. The shade of each room can have an impact on the homeowner and everyone visiting the home.

Natural, earthy hues can have a calming effect, while soft tones, such as white and beige, are comforting. You could use two complementing colours in a room, featuring them in accents throughout the space.

  • Accessories that make you smile

A really easy way to encourage positivity in your home is through accessories that make you happy. These could be family photographs, a specific painting or a special souvenir – anything that reminds you of good moments.

Plants are a simple addition that boost your mood. A small plant placed on the windowsill adds a natural and bright feel to the room.

  • Choose fresh fabrics

Curtains and bedding should be light and flowing for a relaxed vibe. Linens and wools are natural and warm with comforting textures.

Remember natural textiles for cushions and throws to add a soothing touch.

Average mortgage deposits at record high

Published On: June 26, 2015 at 4:05 pm

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Britain’s house buyers are putting down record deposits on homes, according the latest figures released from the Mortgage Advice Bureau.

Home hunters are now collating deposits averaging £72,302 according to the Bureau, which is the highest amount since the broker started recording the figures in March 2009. The previous highest was £71,474 recorded in June of last year.[1]

Hikes

Increasing house prices are leading homebuyers to have to find larger deposits. However, the rise in equity is enabling those already established on the property ladder to put down more money on their new home. As a result, the average property deposit as a proportion of a loan increased from 28% to 30%.[1]

The Mortgage Advice Bureau’s index was put together using figures from in excess of 600 brokers and 900 estate agents. Their findings showed that typical mortgage and deposit sizes reached record highs during last month, with the average homebuyer applying for a mortgage of £167,842. This represented an increase of 1% from April.[1]

Average mortgage deposits at record high

Average mortgage deposits at record high

Research from the broker also found that borrowers are using more of their own cash to try and scale the property ladder. There has been a 4% rise in the average deposit size during the last year, which goes hand-in-hand with the 4% growth in the average loan value.

Fresh affordability features brought in over the last year have managed to keep lending activity at an even pace, the broker suggests.

Affordable

‘Putting up a 30% deposit helps to unlock some of the best rates on the market and helps keep mortgage payments even more affordable,’ said Brian Murphy, head of lending at the Mortgage Advice Bureau. ‘The rise of deposits is less encouraging for first time buyers but there is at least some hope that more low cost properties will become available as second and third-steppers make their move up the ladder,’ he added.[1]

[1] http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11700531/Average-mortgage-deposit-hits-record-72000.html

 

Southern house prices rise sharply

Published On: June 26, 2015 at 3:31 pm

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Latest Landbay Rental Index Reveals Best and Worst Areas for Growth in England

New research from residential property analyst Hometrack indicates that UK house prices have increased significantly over the last 12 months. In particular, prices in the south of England have risen sharply.

Increases

On average, property prices in the UK have risen by £11,500 in the last year, meaning the average house price in a city is £189,400. However, property prices in London average out at £425,700.[1]

Data from the report also shows that month on month prices rose by 0.8%.

Southern soaring

Of all cities, Oxford recorded the largest rise during the last year, with prices rising by £41,700. This was followed by London at £38,900, Cambridge with £23,900, Bristol at £22,400 and Bournemouth at £15,300.[1]

The smallest price rises were recorded in the north of the UK. In Liverpool, prices rose by £4,200, in Newcastle, average increases totalled £4,700 and in Sheffield £5,300. In general, prices in the north are struggling due to less demand from house buyers.[1]

With this said, all cities, with the exception of Aberdeen, recorded on month on month price rises. Bristol had the strongest monthly rise of 1.3%, with Leicester, Liverpool and Belfast close behind with 1.2%.[1]

Southern house prices rise sharply

Southern house prices rise sharply

Improving

‘House prices have picked up momentum post-election,’ notes Richard Donnell, director of research at Hometrack. ‘An increasing proportion of households are feeling the benefits of the improving economy, which means that house price growth is set to continue in the coming months. The greatest risk is an earlier than expected increase in interest rates which would knock market sentiment,’ he continued.[1]

Donnell went on to say, ‘the strong demand side recovery seen in southern England has yet to spread to other cities revealing the diverse nature of the housing market. All cities are making gains at different rates of growth, but the cities with the biggest increases all have something in common  and that is strong local economies.’[1]

‘London has the highest price to earnings ratio, but it covers a wide range of sub-markets. Over the last three years, the impetus for house price growth has shifted from prime markets to the more affordable markets in outer London and the commuter belt,’ Mr Donnell added.[1)

[1] http://www.propertywire.com/news/europe/uk-cities-house-prices-2015062610674.html

 

 

Record low times recorded for re-letting homes

Published On: June 26, 2015 at 2:27 pm

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Encouraging figures released today indicate that landlords are able to let their property in record time.

New research from Countrywide reveals that landlords are currently able to re-let their property in an average of 32 days. This means that many are able to re-let their property before their existing tenants moves out.

Average lets

The research found that 33% of new lets agreed in 2015 to date were agreed while the property was still occupied, up from 27% last year. Average lets achieved while an existing tenant was still in place represented 105% of the asking rent, equivalent to £35 more a month than the asking price. Landlords that are still receiving rental payments from an existing tenant are able to be more relaxed. On the other hand, tenants moving into an unoccupied property have more room to negotiate a cheaper rate, knocking on average £21 per month off the landlords preferred amount.[1]

In the capital, 51% of new lets are arranged when there is still a live-in tenant in the property, up from 41% in 2014. Where a deal is agreed before the previous tenant moves out, there is an average of just six days before then new one moves in. 10% actually move in on the same day that the previous tenant moves out.[1]

Record low times recorded for re-letting homes

Record low times recorded for re-letting homes

Rents

Findings from the report show that when a property has not been let before a tenant leaves, the first week of advertising is where the landlord is likely to achieve the highest rent. After the first week, the landlord is more unlikely to achieve their preferred asking rent.

Outside of the major cities, the average landlord must wait an extra 15 days to locate a tenant willing to pay their asking rent.

‘In larger rental markets, more new lets are being agreed well in advance of the current tenant leaving. As a result we’ve seen void periods fall, with a growing number of landlords having a new tenant lined up over a month before their existing tenant leaves,’ commented David Fell, research analyst at Countrywide.[1]

‘While leaving some time for maintenance between tenancies is advisable, increasingly there’s just a matter of hours between a tenant moving out and one moving in. The buzz around a new property coming onto the market is usually the landlord’s best chance of securing the tenant willing to pay the most rent,’ he continued. [1]

Concluding, Mr Fell said that, ‘in more competitive markets, the first tenant to view a home is often willing to pay a small premium to ensure the landlord takes the property off the market and that no further viewings take place.’ According to Fell, ‘proactive tenants who are looking to move quickly are frequently willing to pay the most.’[1]

[1] http://www.propertywire.com/news/europe/uk-lettings-tenants-landlords-2015062610675.html

 

 

NLA provides new accreditation scheme

Published On: June 26, 2015 at 11:50 am

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The National Landlords Association has moved to launch a fresh initiative, which will allow tenants to check if their landlord is formally accredited.

Newly founded feature, the National Register of Accredited Landlords, or simply, ‘The Register’ will provide a quick and easy service for tenants to check the accreditation status of their landlord. The Register is available for every accredited landlord and accreditation scheme.

Standards

Aiming to raise the profile of accreditation and commend those who perform practice, The Register looks to improve standards in the sector through education and development.

At present, the NLA works with in excess of 65 local councils and 5 universities in England, with the scheme being recognised another 50 local authorities. The Register supports the NLA’s wish that all members are to become accredited by the end of the 2020.

‘Accreditation is a badge of knowledge and competence that landlords should shout about. We should be encouraging tenants to check their prospective landlord and find out whether they have reached accredited status,’ said Richard Lambert, Chief Executive of the NLA. He went on to say, ‘there’s more pressure on improving standards in the private rented sector than ever before and we’re trying to lead the way for landlords to become accredited which is a huge challenge because currently there’s no fundamental need to do so.’[1]

NLA provides new accreditation scheme

NLA provides new accreditation scheme

‘Unfairly tarred’

Mr Lambert also believes that, ‘too often the landlord community is unfairly tarred with the brush of legality or incompetence shown by just a minority of the industry, which isn’t an accurate picture of private renting.’ He said that the NLA, ‘want accredited landlords to put their details on our new Register so they can set themselves apart and for tenants to have a quick and easy look-up for peace of mind that they can rely on their landlord.’[1]

The National Landlords Association has already written to existing accreditation schemes, asking for them to support The Register by saying that they will verify landlords who register as members of their schemes.

[1] Landlord & Buy-to-let ,’Association makes it easier for tenants to check landlords

 

International student property portal launched

Published On: June 26, 2015 at 10:44 am

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The first international student property portal in the UK has recently been launched.

Road 51 vows to assist both landlords and letting agents locate both national and international students who are searching for privately rented accommodation in university towns and cities across Britain.

Advertising

Acting as an advertising feature for property management businesses and sales agents, the portal can additionally be used by private landlords with smaller portfolios. More and more students are looking to move away from home in order to study and making a sound decision on where to live without guidance can be a very difficult and daunting experience.

This can often be even more difficult for international students, who face problems in contacting letting agents and landlords not accredited to their University. Research has proven that a lot of international students, particularly postgraduates, wish to live off campus. A number of reasons contribute to these decisions, such as students wishing to live with others from their own cultural background or because they wish to live with their family.

Road 51 aims to make international students closer to being able to access private accommodation that they may not have been able to view previously. In addition, the portal gives landlords the chance to give students as much detail as possible about their potential homes, including photographs and videos.

International student property portal launched

International student property portal launched

Cost-effective

Founder of Road 51, Bo Tsang, who is an experienced private landlord himself, said that, ‘I am excited to announce the launch of Road 51. My experience as both a student landlord and letting agent made it clear that there was a need for a platform that would allow landlords like myself to access this valuable market. Our website provides a cost-effective solution for landlords looking to extend their reach.’[1]

‘I hope that students will find our new website helpful in their search for properties that are right for them in areas that they are not familiar with. To celebrate the launch of Road 51, landlords are being offered three months’ worth of advertising on the portal absolutely free.’ Tsang added.[]

[1] ‘Landlord & Buy to let’ Issue 59 June 2015