Currently viewing the tag: "North West"

 

Where Will Property Investors Get The Best Return From In 5 Years Time?

Where Will Property Investors Get The Best Return From In 5 Years Time?

Where Will Property Investors Get The Best Return From In 5 Years Time?

Savills have released their UK property price predictions for the next 5 years identifying what they think are the best UK regions to purchase properties in based on expected Capital Gains.

Residential properties in the South East region are predicted to increase in value by as much as 31.9%, whilst the East of England could see property prices rise by 30.4%.

In the South West region of the UK, Savills expect property prices to jump by 29.4% with increases in property values not increasing by as much in more Northern parts of the UK.

According to the 5 year forecast, East-Midlands property prices could increase by as much as 24.6%, however, London property prices are only expected to rise by 24.4%.

West-Midlands property prices are also expected to increase by up to 23.4% according to the forecast, but property prices in Wales are only predicted to increase by 21%

The city of York in the Yorkshire & Humber region could expect property price rises around 20.5% according to Savills and over the Pennines in the North West, property prices are estimated to increase by 19.3% in next 5 years, as is also the case in Scotland.

North East property price predictions are the worst of the company’s forecast only expected to grow by 17.6% over the next 5 years.

The property price predictions do not appear to take into account the effect of the Help-To-Buy scheme on the UK property market, nor do they allow for the prospect of another property price bubble or even another huge property crash.

Continue reading »

 

Property repossessions In the North of England are higher than national average

Property repossessions In the North of England are higher than national average. Property
May Be Cheaper But It Is More Likely To Be Repossessed

4 Of Top 10 Property Repossession Areas
Are In North West of England

A new study by e.surv chartered surveyors has revealed the top 10 hotspots for property repossessions in the UK, and the results show that property owners in the North are less able to keep up with mortgage repayments than property owners in the South.

e.surv’s researchers analysed Ministry of Justice figures for court-ordered repossessions for the 12 months up to 30th June 2013, plus the company’s own data, and found the largest North-South divide since the onset of the financial crisis, with 3.2 repossessions per 1,000 households in the North of England, compared with 2.4 per 1,000 in the South of England.

Four of the UK’s top five “repossession hotspots” are in North-West of England according to the data with Chester, Blackpool, Oldham and Wigan among top five property repossession hotspots.

These areas are among those with the highest proportion of property owners who are struggling to keep up with mortgage repayments.

The data revealed that even despite all the media coverage about surging property prices in and around the capital, two areas within Greater London – Romford (3rd highest number of property repossessions per thousand households) and Croydon came in joint 7th on the repossession hotspot top ten.

Chester is the top UK city for property repossessions by a substantial margin, THREE times the national average!

The rest of the North-West of England does not fair much better with 8 out of 10 towns having above the national UK average number of property repossessions per thousand households.

This news presents an excellent opportunity for new, amateur and seasoned property investors to grab some property bargains as mortgage lenders and banks will be looking to offload these repossessed properties quickly so that they can get their money back, they are not looking to profit!

Lancaster, Liverpool and Carlisle in the North of England showed a lower than the average number of property repossessions, according to the data. However, despite being below the national average, Carlisle had seen a 37% increase in the rate of property repossessions in the 12 months to June 2013.

Other UK regions that also showed huge increases in the volume of property repossessions over 12 months, but remained below the national average are:

  • Taunton in Somerset – 34% increase in property repossessions up to 30th June 2013
  • Brighton – 30% increase in property repossessions up to 30th June 2013
  • Reading – 27% increase in property repossessions up to 30th June 2013

e.surv Director, Richard Sexton, said: “Residential property prices may be high in the capital, and employment prospects may be stronger, but in such densely populated areas, there remain property owners who are struggling with mortgage payments. Many borrowers have seen their finances slowly eroded by high inflation and increasing living costs. This has been particularly potent in London, where less affluent borrowers, by that I mean those who could only just afford to buy, have been badly affected. On a national level repossession numbers are falling as mortgages become cheaper, wages are slowly picking up and the employment market has more vitality. For the UK as a whole, repossessions fell 17% during the 12 month period, with 66,544 repossession orders granted in 2012-13, as opposed to 77,856 in 2011-12. As a region, the north has traditionally depended on public sector jobs, but a squeeze in public sector funding has led to loss of jobs for many, and very slow pay increases for others. Pay increases that are consistently below the rate of inflation have further tightened household budgets, and caused many to fall behind on mortgage repayments. There is still a long way to go before the northern property market returns to its pre-recession health, and all the while the north is still playing catch-up, and falling further and further behind the south.”

Top 10 Property Repossession Areas

 

UK Town / Region

Property Repossessions Per Thousand Households

Total Number Of Property Repossessions In 12 Months To 30th June 2013

1

Chester – North West

8.4

961

2

Blackpool – North West

4.5

570

3

Romford – Greater London

4.4

936

4

Oldham – North West

4.3

829

5

Wigan – North West

4.2

541

=5

Luton – Bedfordshire

4.2

565

7

Bradford – Yorkshire

4.1

1002

=7

Doncaster – Yorkshire

4.1

1356

=7

Croydon – Greater London

4.1

644

10

Northampton – Northamptonshire

3.8

966

 

 

 

 

 

 

 

 

Source: e.surv 

So what are you waiting for?

There will never be a better time to purchase repossessed properties, there are a great number of deals to be had from the areas listed in the table above.

Think of the table as a treasure map, with 10 UK locations offering repossession property deals direct from the banks and mortgage lenders.

 

Rightmove Think London Property Prices Are Unsustainable

Rightmove Think London Property Prices Are Unsustainable

London Property Prices Increase
More Than 10% In October

Average UK property prices increased by 2.8% across the country in October, however property price rises in London are going through the roof and are unsustainable, according to property portal Rightmove

London property prices increased by £50,484 (GBP) equivalent to a 10.2% increase in October, after two consecutive monthly falls in the price of properties marketed.

Property prices in the Capital had fallen by -2.8% and -1.5% in August and September respectively, and the double digit price increases reported in October has analysts worried about the volatility and sustainability of the London property market.

The huge rise in London property prices has been attributed to corresponding factors;

  • Lack of supply of residential properties coming to market
  • Overseas investment in new build properties by foreign property investors

October’s strong recovery means London property prices are now 5.6% or £28,852(GBP) up on July’s all-time high of £515,379 (GBP), pushing the year-on-year increase in London to +13.8% or £66,161(GBP).

Continue reading »

Average PRS Rents Hit New High

Average PRS Rents Hit New High

Buy-To-Let Property Investors Benefit
From PRS Rent Increases

The average rent in the UK’s private rented sector has increased to approximately £757 (GBP) per month, the highest level ever recorded, as rental prices increase by 1.8% on the previous month.

The data is from the latest Buy-To-Let Index, published by LSL property services.

PRS rents are 2.1% higher than they were in September 2012 and tenant demand is still strong with lettings activity growing by 9.2% over the last 12 months.

Average PRS rents are now £13 (GBP) per month higher than the previous all time record set in October 2012, when monthly PRS rents averaged £744 (GBP) per month.

Nine out of 10 UK regions saw rents rise between August and September 2013 with the fastest monthly rise observed in the South East, where PRS rents are 3.3% higher than they were a month ago.

Continue reading »

 

Best Places For UK Property Investment

Best Places For UK Property Investment

UK Property Investment Hot Spots
Identified By Journalist

The post-recession boom in house prices has prompted Christopher Middleton to write about the best property investment hot spots in the press this week and he put forward some of the best areas of the UK that can provide property investors with decent returns.

According to the Office for National Statistics, UK house prices are officially on the up. Property values rose by 3.1% in the 12 months to June 2013, compared to 2.9% in the year to May 2013.

The Royal Institution of Chartered Surveyors (RICS), say that property prices are rising at their fastest rate since the pre-crash days of 2006.

Continue reading »

MP’s Claim Universal Credit Is Another Government White Elephant

MP’s Claim Universal Credit Is Another Government White Elephant

Universal Credit Roll-Out faces major delays

The current Local Housing Allowance (LHA) benefit system is likely to continue until at least 2017 for the majority of private rental sector (PRS) landlords and tenants in most of the UK, following major delays to the roll-out of the new Universal Credit system.

Universal Credit was originally due to be rolled out nationally to all new tenants claiming benefits from October this year, however due to continued problems, the controversial welfare reform measure will just be extended to an additional six jobcentres.

The delay is being blamed on poor IT by Government ministers, leading to claims that Universal Credit is just another Government white elephant.

Universal Credit was heralded by its proponents as an easier way to deliver state benefits including housing benefit or LHA and tax credits into one lump sum paid monthly to claimants, but its proposal saw an immediate backlash from PRS landlords, letting agents and landlord associations over the abolition of direct rent payments to landlords.

Continue reading »

Investors Prefer Property Over Stocks And Shares

Investors Prefer Property Over Stocks And Shares

UK Property Investors are far more positive about continuing to invest in bricks and mortar over stocks and shares as the outlook for the UK property market continues to improve.

The latest Lloyds TSB Private Banking Investor Confidence Index shows that positive sentiment in the UK property market has improved massively in the last 3 months, whilst investors shy away from speculating in other markets with stocks and shares.

In April the positive sentiment for property was only 8%, and improving sentiment in regions such as Wales, West Midlands and North West has added to the strong confidence in London to lift the overall UK property sentiment level to 32%.

This means that UK property is now the fifth highest asset class, behind gold, emerging market shares, commodities and UK company shares. Over the same timescale, sentiment for gold showed a remarkable slump, dropping from 46% to just 12%.

Continue reading »

Showcase For The Christie Raises Funds For Fight Against Cancer

Showcase For The Christie Raises Funds For Fight Against Cancer

On Sunday 21st of July 2013 Rachel and I were part of an annual charity fundraising event at the Lyric Theatre at the Lowry in Salford, with this year’s proceeds going to The Christie.

The 2 ½ hour show was included as part of the BBC’s Million Pound Appeal aiming to raise £1 Million (GBP) to benefit cancer patients in Greater Manchester through a new mobile chemotherapy unit that will take valuable Christie care closer to patient’s homes.

Over 200 performers from 7 amateur musical theatre companies from the Greater Manchester area performed short excerpts from popular musicals to a 1700 capacity audience.

The generosity of the audience was matched pound for pound by Barclays bank, and £3,500 was raised on the night just from the proceeds of the raffle, with even more promised to the The Christie nhs Foundation Trust charity after costs are calculated.

The annual celebration of amateur theatre talent was the brainchild of founder Saunie Williams, who sadly lost her own fight against cancer many years ago but the celebrations keep going in her spirit.

It was a great privilege to take part in this fantastic event again with Salford Musical Theatre Company (SMTC), after last year’s superb performances and my own personal triumph, with a principal role that I had waited 25 years to perform on a stage. On that occasion Showcase 2012 supported the excellent work of the Macmillan Nurses and the committee handed over a cheque for £7,000 (GBP).

This year’s charity – The Christie nhs Foundation Trust, is world famous for the groundbreaking treatments and care they provide for cancer sufferers, including treatment provided for Showcase front man – Mike Sammon who was diagnosed with throat cancer a few years ago, thankfully Mike was given the all clear following his treatment, for which everyone in the showbiz world are eternally grateful for, as there is no-one else on earth who could get away with those gags.

I am writing this post because I want to publicly thank everyone involved in organising and arranging everything so that amateur performers from all over the area can put on a superb evening of entertainment containing a breathtaking showcase of amateur talent as this is a fantastic way to help raise much needed funds for many different charities around the North West of England.

So on behalf of the societies involved; Salford Musical Theatre Company, PADOS, Romiley Operatic Society, Sale and Altrincham Musical Theatre, All Saints Musical Productions, Whitefield AODS and HATS, a huge thanks to Dave Bamford, Mike Sammon, Ian Legate, Helen Litherland, Dennis Carter, Brian Marney, Simon Pickup and the Showcase band plus an army of helpers, of whom there are too many to mention and of course all the people from each of the musical theatre societies who gave their time for free preparing the performers for their sections – THANK YOU ALL !!!.

For more information about the appeal or to get involved visit http://www.christie.nhs.uk/bbcradiomanchester

or call

0161 446 3988

UK Residential Property Prices Are Still Increasing

UK Residential Property Prices Are Still Increasing

UK residential property prices increased by between 0.3% and 0.6% in June depending on which house price index is viewed

Figures released by Nationwide and Halifax have some disparity; however, both report that residential property prices are increasing. 

Nationwide report that UK residential property is valued 1.9% higher than a year ago with the typical UK home worth £168,941 (GBP). 

Halifax report that UK residential property is 3.7% higher than in the same three months of 2012.

The data from Nationwide shows that the southern regions of England, especially London, continued to record stronger rates of property price growth and London also tops the table of property price growth in the second quarter index.

Overall the price of a typical residential property is up 1.4% compared with the same quarter in 2012.

10 of the 13 UK regions saw annual property price rises in the second quarter of 2013, however, Northern Ireland is still the worst performing region with property prices down 2.1% in the second quarter of the year.

London property prices increased by 5.2% compared with the second quarter of last year and the city has seen the greatest recovery in property prices of any region with prices now 5% above their 2007 peak at £318,214 (GBP).

Continue reading »

Salford Musical Theatre presents…

LITTLE SHOP OF HORRORS

8th – 11th May 2013 at 7.30pm

Saturday Matinee at 2.30pm

 

Tickets £9 Adults

£8 Concessions

£5 Children  

Little Shop of Horrors by SMTC - 8th-11th May 2013
Little Shop of Horrors by SMTC – 8th-11th May 2013

Book Online NOW!

http://smtclittleshopofhorrors.eventbrite.co.uk

or

call our Ticket Secretary – 01204 578216

 

There Will Never Be A Better Time To Invest In Property

MyPropertyPowerTeam.co.uk helps property investors and landlords build their own property power team to enable them to profit from property - Visit our main site now!