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The inflation for house prices reached a 5 years low: 4.9% this April compared to the average of 6.9% in the last 5 years.

Considering the fall from the last quarter of 2017, what the housing market is feeling now is actually a rise of 2.9% for prices. But this is mainly because the last quarter of 2017 consisted of a fall of 0.5%, instead of a growth.

Large regional cities are the strongest perfomers with signs of slower growth across the south coast. The pace of overall city level growth is losing momentum, partly due to static prices in London.

One of the cities with the fastest growth rate is Manchester, but the situation is unique in each UK large city.

London is actually the most particular: most of the authorities signalized a growth, but there is still a consistant number (16 out of 46) that are registering a negative growth and prices falling.

Details and an overlook in this very good analysis on Hometrack:

UK Cities House Price Index – April 2018

 

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The market always anticipated the trends for anyone willing to ‘listen’ carefully to it. The build-to-rent trend is one of the many activities that appeared when (and where) a gap appeared between demand and supply.

Now someone has to address Generation Rent:

” those under 35 years old in full employment stuck in overpriced housing and earning too much to qualify for social housing”

But what do they need? More affordable private rental properties. And here’s where build-to-rent comes to meet the demand!

In recent years, smart investors speculated upon these trends and needs and have created new homes. Usually we are talking about flats that are designed to be rented on the long term, instead of actually bought fast by first time buyers.

Now, the figures are saying there is a 30% of the population renting in London.

Recent forecasts by PwC property consultants expect to see 60% of Londoners living in rented accommodation by 2025.

The growth in renters can only be supported by private investors. More helpful information and forecasts for investors in this article on Property Reporter:

Build to rent investments to become the mainstream by 2025

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Photo source: EUGDPR https://bit.ly/2GZg6TZ

GDPR is an acronym for General Data Protection Regulation and it is one of EU’s measures to ensure that an individual data is well protected by companies. The GDPR takes action starting these days and it might affect you more than you think.

First of all, if you are a real estate operator, you should be implementing GDPR concerning your customers. Private data are no longer at anybody’s disposal and security measures are a must. Otherwise, you – as a company, or as an individual, are facing high penalties.

Secondly, if you’re a buyer/ a landlord/ a tenant or any individual interested in a property, most probably your data is already at multiple real estate operators. You have to make sure your data protection rights are respected. But first you have to know them…

GDPR – How will it affect the property sector?

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Unless you’re an experienced renter, moving can actually get you in a spot of bother unless you follow the correct protocol. A wrong move can result in unexpected fees, fines and even a driving penalty. Here’s our checklist to help you avoid the worst when moving out of a rental flat.

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Inform the right people

There is a long list of institutions to tell that you’re moving, including your employer, your bank, your credit card providers, utility providers and the council.

And then there’s the DVLA, which can often be the forgetful one. Whilst you’re not changing cars, you are changing address, so if you get an unfortunate driving offence, the DVLA will write to your old address and if they don’t get receive a timely response, it can get bad quickly.

Change your postal address

It may be worth investing in the mail redirection service from Royal Mail – charges begin from £33.99 for three months and it takes just 5 days to organise. You can apply online or at your local post office from 3 months before to 6 months after you move.

Don’t forget to clean

According to the Deposit Protection Scheme (DPS), poor cleaning makes up over half the deductions from tenants’ deposits.

The best way to avoid this from happening is to pay for a good end-of-tenancy clean. This may even be a requirement in your contract so be sure to double check.

And when they’ve finished, take plenty of clear photos of their work so if issues do arise, it’ll be easier to dispute it with the cleaning company instead of letting it affect your deposit. If you can, send the same photos to your landlord. Remember that your aim is to return the flat how you found it.

Worried about being charged for pre-existing issues? Resend your check-in photos to your landlord to remind them of the properties condition when you first moved in.

Know about wear and tear

Landlords aren’t allowed to subtract money for ‘reasonable wear and tear’. Examples include worn carpeting, loose wallpaper and faded curtains or drapes.

Also, if you’ve lived in a property for several years, the landlord should expect the property to be more worn than one that’s been occupied for a short period of time (six months and under).

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60 Leytonstone Road is a brand new luxury development of stunningly stylish apartments set in the ever growingly popular setting of Stratford City; providing excellent transport links with Maryland and Stratford part of the Cross rail line opening in late 2018. With stunning city views of London.

Stratford is London’s fastest growing business and leisure district, and a major contributor to the capital’s economic growth, with 125,000 jobs forecast to be created in East London by 2030.

60 Leytonstone Road occupies a prominent corner position fronting Leytonstone Road to the West and Buxton Road to the North, with a small car park located to the East of the property.

Influenced by the creativity, the history and the magic that resonate throughout the neighbouring streets, 60 Leytonstone Road is a new landmark for this cherished heart of London that continues to stimulate and surprise. A spectacular collection of luxurious and limited edition apartments, each with a unique and exceptional design.

The layout of each residence has been individually crafted. Each apartment is finished with a number of fabulous features, such as generous balconies, open plan living spaces and exceptional detailing throughout. Rarely does one find such magnificent living space in the very heart of one of London’s most popular and historical neighborhoods.

The immediate surroundings comprise a mix of both residential and commercial uses, with a number of shops and amenities available on Leytonstone Road. Westfield Stratford shopping centre is located approximately 1.1 miles from the property; the nearest station is Maryland which provides regular services to Central London.

Maryland Station will also operate Cross rail/Elizabeth Line services with Heathrow only 45 minutes away, the West End 17 minutes and Canary Wharf only ten minutes away. Morrison’s, Sainsbury’s and Waitrose are only moments away, making your shopping experience a lot shorter. Close to the property is also Stratford shopping Centre and Westfield Stratford City to enjoy them shop till you drop days. There are a variety of restaurants, cafes and pubs in the area so you are constantly spoilt for choice!

There are three OFSTED rated “good” or “outstanding” schools within 400 metres.

Whether relaxing or entertaining, these spectacular apartments beautifully combine convenience with elegance. This heightened sense of comfort continues where you can unwind, entertain or just watch the world go by.

Set against a backdrop of beautiful neutral colour choices enhanced by integral mood lighting, these apartments have perfectly combined the use of some of the finest materials; creating the perfect blend of public and private spaces rich in luxurious ambiance.

Relax from the outside world in lustrous bedrooms with bespoke fitted wardrobes where there is plenty of storage for your belongings. All bedrooms are fitted with luxury ‘soft touch’ carpets. Also benefits from T.V outlets and Virgin, Sky and BT Broadband outlets to the living room.

This apartment has various benefits like Bicycle storage, lifts to all floors. The video entry system will allow your guests to enter the building at the buzz of a button, ensuring that any unwanted visitors stay on the outside.

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We’re always trying to find the best tips for raising the value of a home. And if beauty is in the details, there is more that one thing to consider when talking about the bathroom…

Photo source: Futurist Architecture https://bit.ly/2wZnAXw

Considering you’re a homeowner trying to renovate the home before selling it, would you keep the tub or would you change it with a shower? If you’re thinking of simply answering ‘The next owner will figure out what it wants!’ you might be loosing some money while answering.

Most home-buyers are looking to find the perfect home throughout. It should fit their wishes from the key to the… bathtub or shower! So keep in mind the buyer when redecorating.

Now, to ease a bit the process of making up your mind, here are the principles before choosing between a tub and a walk-in shower:

  • usually families use a tub. Children need a tub if only for their rubber duckies if not anything else. 🙂
  • young and active homeowners prefer a shower ‘on the go’, before going out.

If you know who you are targeting, it should be really simple. Your 3-bedroom home with only one bathroom is, most probably, going to be bought by a family. Your studio apartment close to the station will be preferred by a first time buyer.

Photo source: Homestratosphere https://bit.ly/2x2JN70

More info about the types of bathrooms preferred by different targets of people in this insightful article on Elle Decor.

And talking about redecorating a bathroom, we gathered some ideas for either or a tub-bathroom, or a walk-in shower:

81 Wonderful Bathtub Ideas with Modern Design

280 Master Bathrooms with Walk-In Showers for 2018

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Planning to move to London? Relocating is hard, and London is not the easiest city to adapt to.

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Getting yourself mentally prepared is the first step and we found a good article about things to consider before moving to London on Property Division. We dived them into ‘pluses’ vs. ‘minuses’ so you can do the math:

– higher rents

+ more available jobs and different types of careers to choose from

+/ – housemates (it’s a + or a – considering the type of person you are)

+ meeting interesting people

– high costs for transportation

– pricey pubs

+ lots of new things to see

+++ everything’s open late!

Things Northerners Should Consider When Relocating to London

Now what do you choose? Being a tourist or a Londoner?

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Understanding the difference…

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When searching for the ideal property to buy, aspiring homeowners may be faced with a choice: leasehold vs. freehold. What are the differences?

 

 

Leasehold vs. freehold: the basics

The main difference between leasehold and freehold is that if you buy a leasehold property, you own the property but not the land it stands on. With a freehold property, you own both the building and the land.

In England and Wales, the majority of flats are leasehold, while houses are usually sold as freehold properties.

 

Buying a leasehold property

With leasehold properties, the land the building stands on is owned by a landlord, also known as the freeholder.

You will own the property for the length of a lease agreement with the freeholder. After the lease expires, ownership of the property will revert back to the freeholder.

You’ll pay ground rent to the freeholder, although this usually won’t be very much. The freeholder will also be responsible for maintaining and running the building, so you can expect to pay a service charge to contribute to the cost of this.

 

 

Buying a freehold property

When you buy a freehold property, you’ll own the dwelling and the land it stands on outright.

There will be no time limit on your ownership, so you won’t have to worry about a lease running out.

You’ll be responsible for maintaining the building and any related costs, but this will mean you’ll be free to do whatever you like to the property (subject to planning permission).

 

Leasehold vs. freehold: a summary

Buying a home is an exciting step, but it is very important to understand any impending issues surrounding property ownership.

When it comes to leasehold vs. freehold, the main difference is that as a freeholder you’ll own your property outright from the get go, while as a leaseholder your ownership will be limited to a set length of time.

If you want to know more about buying a home, get in touch with our team today; we are more than happy to help!

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Landlords have been the target of some serious new taxes and regulations. Although these are worrying for some, these measurements are not an end of the rope for most.

For those of you considering investing in properties, keep in mind this:

long-term investments will surely bring you a good profit. New research showed that investing in buy-to-let, but not on an amateur level, will bring the landlord a stable and consistent source of revenue.

More details and a good case analysis in this article on Property Reporter:

How much could an average long term property investment earn you?

If you’re thinking about investing in a buy-to-let here are our property recommendations from the Victor Michael website:

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Unlike most other student based cities London is the exception in the fact that students are not locked into their contracts early. Take the University of Southampton for example, Southampton being the student-dominated city it is; the search for a property for the next academic year starts in November and most of the good properties go by February. This forces students and Fresher’s especially, to seek a property and housemates right as the start of the academic year, whilst Fresher’s are establishing who their friends are. Also, it forces students to pay full summer rent although they are not in the property during the break due to the high demand for properties.  But London being the bustling city it is this problem doesn’t occur.

Below are our 5 top tips for students at London universities seeking tenancies.

Photo source: https://bit.ly/2wxRiTd

  1. Do not rush to enquire.

Our policy, like most other agencies, is not to advertise properties until a month before the current tenancy is about to end. If you want to move in September, start enquiring in August. This ensures you do not waste your own time or the time of the agency. It also ensures that you aren’t made to pay rent over the summer unnecessarily if you are not staying in London during the holidays; this will save you untold amounts of money.

 

  1. Know your requirements.

How long do you want the property for? When are you looking to move? What is your preferred location? What is your maximum budget per calendar month? Are you willing to share facilities with other tenants? Make sure you know your requirements before you enquire so that the agent is best able to help you.

 

  1. Know what the agency requires.

For full time students, except those completing a PHD, agency and landlords require you to have a guarantor. A guarantor is someone, often a family member or loved one, who is willing to agree to pay your rent if you default payment and your rent becomes in arrears. Your guarantor can be international, though some countries are harder to reference.

 

  1. Be prompt with your referencing.

Referencing students for the property is a little more complicated as we have to verify your guarantor too. Make sure you promptly fill out your referencing forms, send over all necessary documentation and that of your Guarantors, especially if you have a holiday planned just before you move-in.

 

  1. What to know when you move-in. 

 

An inventory check-in is often mandatory on the day of your move-in. You are required to attend and the inventory clerk will go through and note any damages to the property left by the previous tenant, this is for your benefit so you are not unfairly charged at the end of your tenancy. We would advise you to take your own pictures as evidence and store this one a backed up memory drive.

 

Your Deposit. All landlords and estate agents are legally required to register your deposits 30 days after receiving it. Make sure you are provided with evidence of its registration. If your landlord fails to register your deposit he may be liable to pay you 3 times the deposit amount and is prohibited to issuing a section 21, an eviction notice.

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