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Help-To-Buy Heralded As UK Property Market Saviour

Help-To-Buy Heralded As UK Property Market Saviour

RICS Claim Help-To-Buy Is Reason
For UK Property Market Recovery

The Royal Institute of Chartered Surveyors (RICS) have stated that the Government’s Help-To-Buy scheme and other financial initiatives have seen the UK property market turn the corner after the post recession slump.

In its monthly report RICS said property prices are up for a fourth consecutive month as the largest number of property buyers in 4 years return to the market.

The RICS report particularly picked out the West Midlands and the North East, as two areas which had suffered more than most in the UK property market crash, but these areas experienced the biggest increase in property buyer activity during July.

The widespread pick-up in the UK property market has seen residential property prices rise at their fastest rate since the peak of the property market in November 2006.

There is a growing chorus that the Government’s Help-To-Buy scheme, which was introduced in April to provide equity loans for first time buyers of up to 20% towards the cost of a new build property worth up to £600,000 (GBP) is creating a new property bubble.

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Advertising Property For Sale

Advertising Property For Sale

Once you have made the decision to put your property for sale on the open market you will need to decide on your marketing strategy. There are various options available in the UK for sellers to consider; do you want to go it alone with a private sale, stick with convention and instruct a local high street estate agent or opt for the middle ground with an internet based agent?

Each option has its pros and cons but no matter which you choose you will need to get the property for sale seen by potential buyers!

For sale boards are a great strategy. Many people consider them old fashioned but they really are a cost effective, simple and efficient way of generating interest in your property. For sale boards will work more successfully for some properties than for others based on two main factors.

Firstly the area, is there good footfall or a high level of passing traffic?
The board needs to be seen in order to work!

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Rental Property Seen As Safe Investment

Rental Property Seen As Safe Investment

Landlords Increasing Rental
Property Portfolios

There has been a rise in the number of landlords expanding their rental property portfolios over the last three months, according to fresh research by the Association of Residential Letting Agents (ARLA).

ARLA questioned its members to find out if landlords are currently increasing their investment in rental properties in the private rental sector (PRS) and they discovered that the number of landlords buying properties has risen from 30% to 39% over the last three months.

ARLA have taken the responses from their members to indicate greater confidence in the UK private rented sector and that rental property is still perceived as a safe investment amidst ongoing global and national financial instability by landlords with existing rental property portfolios.

ARLA research also revealed that fewer landlords are quitting the UK private rental sector and selling their rental properties too, with numbers incrementally down on the previous quarter, from 15% to 14%.

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This is What 99% of Property Investors Do…

Everywhere you look there are still doom-laden forecasts for a property price crash. If you’re wondering what most property investors do when the market is all doom and gloom and everybody is panicking – it’s precisely this …

They do nothing about it and bury their heads in the sand.

But you can avoid this by learning how to successfully build a property business in ANY market and in ANY financial climate, regardless of the price of houses.

Interested?

London Ealing is Where Goals Are Achieved!

On June 22nd, our good friend, Matthew Moody is hosting a one-day event in London Ealing called “Cracking the Property Code Live!and it’s all about how you can build a profitable property business using the latest techniques and strategies that he will brain dump for you in an intensive event.

So if you’re thinking about starting a business in property or you’re already in property but things are not quite working out the way you want; you need to be at this event.

Tickets start from just £9.99 – get yours here

We are very much looking forward to attending as it’s going to be a great day with over 200 property investors there – selected exhibitors to help you with services – and of course, killer content from Matthew on how to build your property business the right way!

Make sure you get your ticket today

PS.
Remember that tickets start at just £9.99 for a full day of content – it really doesn’t get any better than that so don’t dilly dally as there are limited places available – book yours today! 

Matthew Moody

Matthew Moody

About Matthew Moody

Matthew Moody has been investing in property since 2004 and been involved in the HMO market, educating, sourcing, management and coaching people for over 9 years. 

From humble beginnings in Hull as the son of a policeman, he now owns a cash flow rich portfolio of £3.5 million (GBP) properties (the majority 6 bed+ HMO’s) and was instrumental in his last business (Millennia Property) for winning Letting Agent of the Year in 2010, managing over 600 units of property and taking control of over £16.5 million pounds (GBP) worth of property through instalment contracts and long leases. 

His mission is to make a difference in the property world and show people that you don’t have to struggle; you need to take the right action step-by-step to truly live out your dreams. 

Cracking the Property Code Live!

Cracking the Property Code Live!

Discover your outcome, prioritize your life and take massive action today!

 Results Action Purpose

 

Make sure you get your ticket today

 

The Event

Results – achieve the results you want in your property business

Purpose– know your purpose and why this is important to you

Action – take the right action to move your property business onwards and upwards

1 world class speaker

Cracking the Property Code Live is the culmination of 10 years in the making and brings the very best educator in the property sector to share with you his key to success.

Spend the day with Matthew Moody learning how to create a business that is profitable, sustainable and learn:
  • ◦How to understand if the path you are on is the right path for you
  • ◦How to choose two property strategies that work for you
  • ◦Which systems to use and which ones to ditch
  • ◦Which three marketing strategies you need to use
  • ◦How to have more time, and make more money

Exhibitors are:

  • Mir & Co Solicitors
  • HMO Tax
  • The Mortgage Practice

June 22nd 2013 – The London Ealing Hotel, DoubleTree Hilton – 09.00am – 05:30pm


Make sure you get your ticket today

New Report Backs Welfare Reforms

New Report Backs Welfare Reforms

Research from an independent consortium led by the Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University covering the impact of recent Housing Benefit reform in the private rented sector was published on Monday 13th May.

The report examined the attitudes of tenant claimants and private rented sector buy-to-let landlords in 19 areas across the UK, following the Housing Benefit and Welfare Reforms that were ordered by the coalition Government in April 2011.

Lord Freud, minister for welfare reform said:”Reform of Housing Benefit in the private rented sector was absolutely necessary to control a system that saw spending double over a decade to more than £20 Billion (GBP) a year. However, it is also necessary to monitor and follow the reforms to help us build and learn for the future”.

Ian Cole, Professor of Housing Studies at the Centre for Regional Economic and Social Research (CRESR), said:”This report provides findings from in-depth interviews undertaken with tenant claimants, landlords and housing advisors in early stages of the implementation of the reforms.

The CRESR also conducted separate analysis of all UK Housing Benefit claims to provide an insight to the initial impacts of the welfare reforms across the UK.

The CRESR report finds:

  • Large numbers of tenants claiming benefits have not been forced to move out of rental properties during the study
  • In 120 UK local authority areas, overall reductions to a tenant’s Housing Benefit / Local Housing Allowance (LHA) have been averaged at £5 (GBP) or less
  • The extra £130 Million (GBP) of support from the Department of Work and Pensions (DWP) to local authorities to help tenant claimants with Discretionary Housing Payment (DHP) has assisted tenant claimants well where Housing Benefit / LHA reductions have been greater than the national average.

The consortium is led by Ian Cole, Professor of Housing Studies, from the Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University. Other key team members included Peter Kemp of Oxford Institute of Social Policy, Carl Emmerson of the Institute for Fiscal Studies (IFS) and Ben Marshall from IPSOS-MORI.

The Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University is one of the UK’s leading academic research centres specialising in social and economic regeneration, housing and labour market analysis.

The consortium’s research started in April 2011 and will run until this Autumn (2013) and covers the effects of:

  • Setting Local Housing Allowance (LHA) rates from the median to the 30th percentile of local market rents from April 2011
  • Capping Local Housing Allowance rates by property size from April 2011 to:
    • £250 per week for 1 bed
    • £290 per week for two bed
    • £340 per week for three bed
    • £400 per week for four bed or more
  • The increased Government contribution to the Discretionary Housing Payment (DHP) budget
  • Increased powers of local authorities to make direct payments to landlords to support tenant claimants in order to retain and secure tenancies in the private rental sector.
  • Allowing an additional bedroom within the size criteria used to assess Housing Benefit claims in the Private Rented Sector where a disabled person, or someone with a long-term health condition, has a proven need for overnight care and it is provided by a non-resident carer who requires a bedroom.

The full research ‘Monitoring the impact of changes to the Local Housing Allowance system of Housing Benefit: Interim report’ is available here: Monitoring the impact of changes to the Local Housing Allowance system of Housing Benefit: Interim report

The Scottish Government along with the Department of Communities and Local Government (CLG) and Welsh Assembly Government are working in close partnership with the DWP and each contributing to the costs of the review.

Further CRESR reports are expected to be published in early 2014.

UK residential property prices are

expected to continue rising during 2013

 

UK Property Market Confidence Grows As Prices Rise

UK Property Market Confidence Grows As Prices Rise

UK residential property owners are expecting house prices to rise by 4.5% within the next six months, according to new research by the property search portal – Zoopla.

The property portal based its findings on replies from 4,116 people in the last week of March 2013, of whom 3,485 were residential property owners.

This is the biggest predicted UK house price increase by home owners in more than three years, the property search site said.

The proportion of home owners who think that residential property prices will increase this year is also at the highest level for almost three years, with 74% predicting house prices in their area will increase, the most since the second quarter of 2010.

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Rental income down valuations affecting

buy-to-let mortgage applications

Buy-To-Let Mortgages Refused As Surveyors Down Value Rental Income

Buy-To-Let Mortgages Refused As Surveyors Down Value Rental Income

Approvals for buy-to-let mortgages are failing because surveyors are ‘down valuing’ the expected rental income from the private rented sector and are advising mortgage lenders accordingly.

In some cases, surveyors are even down valuing the value of rent already being received by landlords.

The claims were made last weekend in a Sunday Times feature, which says that some buy to let mortgage lenders are rejecting landlords’ rental estimates.

Most buy to let mortgage lenders want to see monthly mortgage repayments covered by rent with a 25% excess, to cover expenditure and void periods. Some lenders want to see 130% of rental cover, while others are happy with 100%.

Down valuation of the potential rental income could result in the refusal of the buy to let mortgage application, or lenders may limit the amount they will offer, often below the borrower’s expectations.

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Weak Economy Gives 

International Property Investors Green Light

Weak Economy Gives International Property Investors Green LightThe surge in Central London property values has failed to deter overseas property buyers who are still actively purchasing available residential accommodation.

Ironically it is the weakness of Sterling (GBP) that has made residential property in the UK capital attractive to international property investors, helping to fuel strong demand for residential property in London from foreign investors, according to one residential estate agent.

As we previously reported in February international property investors are already targeting high rental yields from rental properties in the UK (read full story here)

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Landlords Forced Into Remortgaging

Landlords Forced Into Remortgaging

More landlords are remortgaging compared to 12 months ago, with a number being forced by their existing lenders to find alternative funding from elsewhere, although some are also remortgaging voluntarily in order to expand their portfolios.

According to research from specialist buy-to-let broker Mortgages for Business, an increasing number of landlords are remortgaging more complex buy-to-let property.

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Labour leader, Ed Miliband says Labour plan to crackdown on rogue landlords and grant local authorities greater powers.

Labour Leader Plans Crackdown on Rogue Landlords

Labour Leader Plans Crackdown on Rogue Landlords

Politicians are usually reticent to discuss the UK private rental sector (PRS) because political conflicts could easily arise. Landlords are, of course, great taxpayers and contributors to the economy, where tenants are seen to be the ‘ordinary man’: in reality, both have their place and their way of working. 

However, Labour party leader Ed Milliband was keen to make clear his plans to protect tenants from rogue landlords in a speech delivered earlier this week, in favour of longer tenancy agreements.

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There Will Never Be A Better Time To Invest In Property

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