Properties for sale and to let in East London

 

When it comes to home decor, 2016 was the year of everything from woven wall hangings to Scandinavian-inspired interiors. And as the year winds down, soon enough your thoughts will most likely wander to a home refresh. So it’s worth exploring the top decorating trends that will likely be on repeat in homes across the country—and possibly in your own abode.

We checked in with three interior designers—Martyn Lawrence-Bullard, Young Huh, and Beth Diana Smith—for their 2017 decorating forecast and some easy pointers on how to make them your own. These trends are chic, inspiring, and (fortunately) don’t require a complete room overhaul.

Green
According to celebrity interior designer Martyn Lawrence-Bullard, who counts Kendall Jenner among his list of clients, green is “strong again.” From lime green to emerald, the hue works throughout the home—whether it’s as a wall color or a room-filling rug. If you’re not too keen on the idea of using green in large doses, Lawrence-Bullard has a suggestion: “Add really fun emerald glasses to your regular white plates and suddenly you’ve got that up-to-the minute look.”

Tropical Prints
It’s no secret that interior design takes cues from the runways, and this year, we’ve seen the likes of Marc Jacobs, Prada, and Emanuel Ungaro experiment with all things tropical. The print will continue to appear in wallpaper and designer fabrics, according to Lawrence-Bullard. But don’t worry if such in-your-face prints are out of character for you. He suggests throw pillows boasting the trendy pattern: “Always buy a plain sofa and change it up with new pillows,” Lawrence-Bullard advises. “It’s just like buying a great piece of classic clothing. You can certainly refresh it with a new bag and shoes.”

Texture
Weaving texture into an interior makes it more inviting and the idea of mixing fabrics and materials will be on the rise. “Texture is really important,” says Lawrence-Bullard. “We are seeing more and more texture in every form, from brushed brass tables to light fixtures to fabrics and wallpapers.” A quick way to test the trend: Drape a nubby wool throw over a leather chair or mix fabrics used for decorative pillows.

Marble and Brass Combinations
Young Huh, who was named one of Vogue’s five young interior designers on the rise in 2015, promises marble and brass will continue to dominate in 2017. “We’re going to see this trend in both kitchens and baths,” Huh explains. “It’s that combination of something very natural and clean, like white marble, and something industrial, hard, and a little bit glamorous with the brass.”

Muted Colors
Does the thought of bold colors anywhere in your home make you feel a tinge of anxiety? Don’t fret—it’s all about neutrals in the year ahead. “Whites, beiges, pale grays, camel, and blush pink are super on-trend,” Huh says.

Geometrics
Your goal should always be to create a home that feels curated, and an easy way to accomplish this is through pattern. “We’ll see inventive geometrics that speak to ancient cultures, whether it is African or Asian patterns, but they’ll be modernized,” Huh says. Think simple lines, geometric designs, and triangles, Huh explains.

Quirky Lighting
Think of lighting as an accessory for your home—it’s the perfect way to show off your unique design sensibility. “A quirky lighting fixture looks great in a dining room,” Huh says. “It’s a great space to go for it and do something unusual.” Also consider sprucing up your bedside lamps with something truly memorable.

Artisan-Crafted Furniture
For New Jersey–based interior designer Beth Diana Smith, the new year will include an emphasis on uniquely crafted furniture. “People will be going back to furniture that is more of an investment—furniture that is very well-made,” Smith says. She recommends antique shopping for pieces that will add character to your home and browsing sites like Chairish.

Gray
Gray was a prominent color in 2016 interiors and it will continue to reign in 2017. “We will see different tones of gray, a lot of gray and white, and gray in deeper colors,” Smith says. It’s the sort of color that complements a full spectrum of shades, from bold red to mellow ivory.

Bronze
Smith promises that 2017 will bring loads of bronze—a metal that warms up any space. “It’s a lot more classic in a sense,” she says, as it complements a myriad of decorating styles. “I like it in lighting and accessories, whether it be vases, lamps, or decorative bowls for the kitchen,” Smith says.

Source: http://www.vogue.com/article/home-decor-decorating-trends-2017 

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Property owners in one in three areas in UK areas earn more from owning their home than they do from their work, new research has found.

Overall house prices outpace owners’ earnings in 119 areas and 17% of all local areas have seen average house prices increase by more than total average pay, according to a study from home lender the Halifax.

Average house prices have increased by more than total average employees’ net earnings in 31% of local authority districts in the past two years and the proportion of areas where house prices are outpacing earnings over the last two years has edged up from 28% in 2015.

More than nine out of 10 are in London, the South East, South West and the East of England with these four regions accounting for 111 of the 119 or 93% of areas.

The biggest gap between rising property values and earnings was in Haringey in London. House prices in the borough increased by an average of £139,803 over the last two years, exceeding average take home earnings in the area of £48,353 over the same period, a difference of £91,450, equivalent to £3,810 per month.

Haringey is followed by Harrow in north London with a price growth to earnings difference of £77,791, St Albans at £72,990 and Waltham Forest at £63,646. In total, six London boroughs appear in the top 10 districts, including Newham at £63,583, Redbridge at £56,528 and Hounslow at £54,569.

‘Buoyancy in the housing market over the past two to five years has resulted in homes increasing in value by more than total take home earnings for the average homeowner in many areas, though mostly in southern England,’ said Martin Ellis, housing economist at the Halifax.

‘While it’s no longer unusual for houses to earn more than the people living in them in some places, there are clearly local impacts. Home owners in these areas can build up large levels of equity quickly, but for potential buyers whose wages have failed to keep pace, the cost of buying a home has become more unaffordable during that time,’ he explained.

Four areas have recorded a differential of over £100,000 over the past five years. The greatest was again Haringey, where average property prices have increased by £242,121, surpassing average take home pay during the period by £124,300. Then Harrow at £115,522, Waltham Forest at £105,195 and Three Rivers at £101,082 with nine of the top 10 performers in London.

 

Source: http://www.propertywire.com/news/uk/research-reveals-much-home-earns-owner/?utm_source=Property+Wire+News&utm_campaign=016843e7c3-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_cb0fe1dd73-016843e7c3-108361813&goal=0_cb0fe1dd73-016843e7c3-108361813 

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People in the UK looking for a new mortgage now have even more choice with a number of lenders launching new rates and products.

The TSB has reduced interest rates by 0.10% on selected mortgages for home movers, first time buyers and remortgage borrowers. These include five year fixed rates and two year fixed rates for remortgagers.

‘We want to help more people to borrow well and today’s rate cuts are good news for those with a higher deposit,’ said Roland McCormack, TSB mortgage distribution director.

Accord Mortgages has launched a selection of competitive fixed rate mortgages for borrowers with a 35% deposit and there are added features such as cashback, free standard valuation or free legal fees.

The intermediary only lender, which is part of Yorkshire Building Society, has also made rate reductions by up to 0.25%. These include a 2.99% five year fixed rate at 85% LTV which is available to both home buyers and remortgage customers and has no upfront product fee.

‘By refining our product range we have a greater ability to ensure our core mortgages remain competitive and appealing to borrowers. However, as always we will monitor the market and listen to brokers to ensure our product range continues to meet a variety of customer needs,’ said David Robinson, Accord national intermediary sales manager.

The Chelsea Building Society has launched a variable rate two year tracker mortgage with no early repayment charges (ERC) with an interest rate of 1.15%, the lowest variable tracker mortgage rate currently on the market, and it is available to both home buyers and those looking to remortgage with a 35% deposit. It comes with a £995 product fee.

The new mortgage, which tracks the Bank of England base rate, is designed to provide homeowners with flexibility to exit their mortgage early without paying an ERC should their circumstances change over the next two years.

‘Our new tracker doesn’t tie borrowers into their mortgage, giving them breathing space to review their options on a regular basis with the bonus of not being subject to early repayment charges. As it is the lowest variable rate tracker mortgage currently available on the market it will appeal to customers who are keeping an eye on interest rates,’ said Richard Barker, mortgage product manager at the Chelsea Building Society.

‘The market continues to benefit from buoyant demand for Buy to Let remortgage as landlords take action to minimise costs and manage profitability. This market has become even more active since the changes to stamp duty came into effect last March and ahead of the impending changes to tax relief,’ said Jaedon Green, Leeds Building Society’s director of product and distribution.

Leeds Building Society introduced new criteria on 01 January following changes to underwriting standards for buy to let by the Prudential Regulation Authority (PRA).
New criteria includes an income covering ratio (ICR) of 140%, reducing the stress test rate for remortgages with no additional borrowing to 5%, and removing the minimum income requirement.

Source: http://www.propertywire.com/finance-update/choice-added-mortgage-deals-uk-home-borrowers/?utm_source=Property+Wire+News&utm_campaign=bff7d979c4-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_cb0fe1dd73-bff7d979c4-108361813&goal=0_cb0fe1dd73-bff7d979c4-108361813

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Less is more so kill the clutter


If you put your hand onto a hot stove you would not be surprised to burn it. That’s obvious I hear you cry.
And if you go for a stroll when it’s hammering down with rain you’ll get soaked, right? Duh, of course, you’re now probably thinking ‘tell me something I don’t know’.
However, it’s also pretty obvious that if you put your property on the market and it’s filled with clutter it is a much harder home to sell.
It makes your home look smaller and I’ve never had a potential buyer say to me ‘I’m looking for somewhere really small and cluttered’.
Sure we deal with lots of people downsizing but they still want ample space to live in and enjoy.
We recently surveyed the team in our office asking for their top property tip.
Leading the way by some distance was the vital importance of keeping a property clean and clutter free when people are coming round to view it.
You want viewers to marvel about how big your bedroom seems not be turned off by the fact there’s no floor space due to unnecessary items left everywhere.
Less is very definitely more in this scenario as untidy properties tend to stay on the market a lot longer than smart, clean and tidy ones.
So spend a bit of time decluttering your property before it goes on the market. If you have items you can’t part with, put them into storage. Just don’t leave them lying around for a potential buyer to step over.
The few hours you spend ridding your home of unnecessary clutter could make you thousands in an increased sale price.
Put simply, space sells, clutter doesn’t. It sounds obvious but many people dismiss this advice.
Our team at Victor Michael are always delighted to answer any of your questions on preparing to bring a property to market successfully.
Thanks for reading.

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Should you still be investing in Stratford Buy To Let?

If I were a buy to let landlord in Stratford today, I might feel a little bruised by the assault made on my wallet after being (and will continue to be) ransacked over the last 12 months by HM Treasury’s tax changes to buy to let. To add insult to insult to injury, Brexit has caused a tempering of the Stratford property market with property prices not increasing by the levels we have seen in the last few years. I think we might even see a very slight drop in property prices this year, and if Stratford property prices do drop, the downside to that is first time buyers could be attracted back into the Stratford property market, meaning less demand for renting (meaning rents will go down). Yet, before we all run for the hills, all these things could be serendipitous to every Stratford landlord, almost a blessing in disguise.

Stratford (E15) has a population of 51,490, so when I looked at the number of people who lived in private rented accommodation, the numbers astounded me …

 

Yields will rise if Stratford property prices fall, which will also make it easier to obtain a buy to let mortgage, as the income would cover more of the interest cost. If property values were to level off or come down that could help Stratford landlords add to their portfolio. Rental demand in Stratford is expected to stay solid and may even see an improvement if uncertainty is protracted. However, there is something even more important that Stratford landlords should be aware of, the change in the anthropological nature of these 20 something potential Stratford first time buyers.

I have just come back from a visit to my wife’s relations after a family get together. I got chatting with my wife’s nephew and his partner.  Both are in their mid/late twenties, both have decent jobs in Stratford and they rent. Yet, here was the bombshell, they were planning to rent for the foreseeable future with no plans to even save for a deposit, let alone buy a property. I enquired why they weren’t planning to buy? The answers surprised me as a 40 something, and it will you. Firstly, they dont want to put cash into property, they would rather spend it on living and socialising by going on nice holidays and buying the latest tech and gadgets. They wanted flexibility to live where they choose and finally, they didn’t like the idea of paying for repairs. All their friend’s feel the same. I was quite taken aback, because buying a house is just not top of the list for these youngsters.

So, as 39.9% of Stratford people are in the rented accommodation and as that figure is set to grow over the next decade, now might just be a good time to buy property in Stratford – because what else are you going to invest in?  Give your money to the stock market run by sharp suited city whiz kids – because at least with property – it’s something you can touch- there is nothing like bricks and mortar!

 

 

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