at Lewis Crescent, Exeter United Kingdom
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2014: good news for the buy-to-let property market? http://ow.ly/r4FNH With just over one month to go before the end of 2013, property prices are likely to have risen (on average) this year by 3.5 to 6 per cent, depending on which indices you look at.* With 2014 forecasts now out, it looks like the pundits agree that we’ll see a similar picture next year, albeit hopefully with more stock. Strutt & Parker is one of the most cautious, and think “price growth in 2014 will be very sensitive to prevailing political press and expectations”, and that “2015 may remain quite flat for the same reason”. The National Institute of Economic and Social Research (NIESR) estimates prices will increase by 5 per cent; Hamptons is expecting 6 per cent; and Savills 6.5 per cent. Those who are forecasting over a five-year period see 2016 and beyond as crunch time for the property market. They don’t believe a "housing bubble" is forming, so aren't predicting a crash.
House prices driven higher by supply shortage http://ow.ly/qJ04j Number of buyers dwarfing number of properties on the market as Help to Buy and Funding for Lending schemes stoke interest Estate agents have warned that there are nowhere near enough homes on the market to satisfy would-be buyers, with the gap between demand and supply at its widest since May 2009. The shortage has also contributed to an 11-year record in the proportion of estate agents reporting rising house prices, according to the Royal Institution of Chartered Surveyors. Rics said "rocketing" interest from would-be buyers was dwarfing the number of properties being put up for sale as the state-backed Help to Buy and Funding for Lending schemes stoke interest in a rejuvenated housing market. Its latest snapshot of the residential property market found that for England and Wales, the proportion of estate agents reporting rising prices minus those reporting falls – the net balance – had jumped to 57% in October, the highest figure since June 2002.
One million more households to rent by 2018 http://ow.ly/qzE9v More than a million households are expected to join the UK's growing army of tenants over the next five years, despite government efforts to boost home ownership. Property group Savills, which released its five year forecasts for house prices on Wednesday, said UK rents will also rise by 21pc over the next five years. London rents are expected to increase by 25.8pc by 2018, outpacing the forecast growth of house prices in the capital, which Savills expects to increase by 24.4pc.
House prices rise by 6.9% http://ow.ly/qzDYe Average home now costs £171,991, boosted by the government's Help to Buy scheme, says Halifax House prices surged by 6.9% annually in October as they continue to rise at their fastest rate in more than three years, Halifax has reported. A month-on-month increase of 0.7% took prices to an average £171,991, marking the ninth monthly rise in a row as the latest phase of the government's Help to Buy scheme was launched. The annual increase was the strongest since May 2010 and follows a 6.2% year-on-year upswing the previous month. The second phase of Help to Buy, which offers state-backed mortgages to people with deposits as low as 5%, had been expected to launch in January, but it was brought forward to last month in a surprise move by the government. http://ow.ly/qzDYe
I remain to be convinced but apparently...For a longer life, Do It Yourself http://ow.ly/qrbLW
Targeting a niche tenant market http://ow.ly/pKEth
Setting standards: ASA reveals new rules on property ads http://ow.ly/pI4zO
Buy-to-let is still a good investment - EveryInvestor http://ow.ly/pFKUA Some reassuring upbeat news for BTL investors let's hope this market sentiment carries on in this vein
House prices and the future of homes - in graphics - BBC News http://ow.ly/pFKsk You may have seen this before but the good old BBC have built a great tool to show buy/rent affordability across the UK.
What happens when Generation Rent become generation spent?http://bit.ly/17XvTho
89% 'expect house prices to rise' - Evening Standard http://ow.ly/q9S5G Some 89% of more than 9,000 home owners surveyed by property search website Zoopla predict further house price hikes in the next six months, marking the highest proportion seen since its records began in 2009. Just 4% of home owners across Britain believe prices will drop, down from 17% this time a year ago. People typically expect prices to rise by 5.7% between now and next spring, with London home owners predicting particularly strong growth at 8.3%. Some 97% of Londoners surveyed expect to see values increase. Separate research by another website, Rightmove, published earlier this week showed that house sellers' asking prices in London have jumped by 10% in the space of just one month to reach a new high of over £544,000. Two-thirds (66%) of those across the survey who think property prices are on the up said the level of property sales they have already seen in their local area is their main reason for believing this. Despite home owner confidence remaining higher in the South than the rest of Britain, every region recorded an increase in the proportion of people who think prices in their area are rising. Even in areas of the North and Wales, where confidence was at its lowest, 84% of home owners believe prices are rising.
How to identify a good landlord http://ow.ly/q9SfT #tenantscharter Despite the Government’s commitment to reducing red tape, recent announcements of a “tenants’ charter” suggest more rules are on the way. Although there won’t be any legal changes involved, the Government wants to “provide stability” and “avoid hidden fees” for families who rent, through introducing long-term, fixed, “family-friendly” tenancies. The idea is to create a “model tenancy agreement” that will “set out the rights and responsibilities of tenants and landlords” and provide an industry benchmark for written tenancy agreements. The “tenants’ charter” is also intended to help educate tenants and provide guidance on what to do and whom to turn to for help when things go wrong. While all that may sound like steps in the right direction from a tenant’s perspective, the reality is rather different. Read more... http://ow.ly/q9SfT
It is fair to say that the traditional residential property investor is of the mind-set that buying a property, renting it out and holding it for a lengthy period to capitalise on the rental yield is the obvious choice when assessing which direction to follow. Granted there is nothing necessarily wrong with this thinking but is this the best way to produce the highest return? Gone are the days of thinking that ‘property prices can only go up’ and ‘you can never lose in property’ as many investors learned the hard way that there are a large number of factors that can make or break an investment and the less active you are the more chance there is of something going wrong. Nobody can realistically argue that property is now a bad investment but the way in which good returns are achieved has somewhat shifted. The simple mentality that the harder you work the more successful you are can also be applied to the style of property investing in that the more active you are with your own portfolio the more you will prosper. This is why the concept of ‘trading’ property is one which investors must consider if they are serious about improving their returns on an annual basis and avoiding the pitfalls of holding property long-term. Such pitfalls include those related to tenants, a drop in house prices, and the risk of increasing interest rates on mortgages held over any property investment. - iNVEZZ http://ow.ly/q7HWO
To be a good landlord, you have to get inside the mind of your tenants. And there is no shortage of tenants willing to tell you exactly what they want. Savills has polled 2,300 private sector tenants in the UK to discover that the top priorities are location (within a five-minute walk of public transport and within easy access of work/university) and the size of property. Out of London, 25 per cent of tenants move to be in a bigger property; in London, it is the motivating factor for 19 per cent. The under-24s are more concerned about finding a furnished property than wanting to stay put for more than a year, whereas the security of long-term tenancies appeals to nearly 50 per cent of tenants aged 45-plus. Nearly half of renters with children would be prepared to pay more rent to be near a good school and one in four Londoners would like a garden (rising to one in three living outside London). Rent rises are, surprisingly, not a source of disgruntlement for most tenants; but landlords ending tenancies are. http://ow.ly/q2SU3
Rents across England and Wales hit record levels in September, with the average price paid by private tenants hitting £757 a month, according to research from property firm LSL. The housing charity Shelter called for the government to "fix" the market, after LSL, which runs the UK's largest lettings agent network, said rents had risen by 1.8% over the month and were £13 a month higher than their previous peak, reached in October 2012. LSL said rents have never been higher in Wales, the West Midlands, the East Midlands, the north-west, Yorkshire and the Humber, London and the south-east, but there have been dips in some regions. While in the south-east of England average rents rose by 3.3% month-on-month to £787, in the east of England they dropped by 0.8% to £739. The cheapest region to rent in is the north-east, where tenants paid an average of £533 a month in September, while the most expensive is London, with an average of £1,141. Demand for rented properties has been a key driver in rising costs, and LSL said lettings activity was up by 9.2% in the 12 months to September. Read more at http://ift.tt/19QCvdY
Buy-to-let investors are taking out larger loans but are continuing to obtain stable yields according to research from the Landlord Centre. According to data from the online mortgage specialist, the average price paid by a buy-to-let landlord for a property between June and September was £169,852 – £7,623 more than in the preceding three months. At the same time, they are garnering yields on average at 6.06 per cent – down 0.16 per cent – with high demand from tenants supporting rental incomes. Read more: http://ift.tt/1bO1WAg Follow us: @MailOnline on Twitter | DailyMail on Facebook
Returns from buy-to-let on the rise - Telegraph.co.uk http://ow.ly/pUXFH
Fools rush in: the buy-to-let pitfalls to avoid - Mortgage Solutions http://ow.ly/pTFhW
Why you should never offer to help your girlfriend move house http://ow.ly/pP3ls #funny
Home-owner lending is up but buy-to-let is down - FT Adviser http://ow.ly/pKExN