How far will British homeowners move house?

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For most of you, the answer is not very far. It is much more common for homeowners in the UK to move the suburb over than the next town or county. According to research recently published by leading UK conveyance providers My Home Move, in the last five years an impressive 70% of you – if you sold property – decided to buy a new house less than twenty miles away from your old postcode. Does this mean that we really live in a kingdom of homebodies? Not necessarily. It’s hard to say how many homeowners moved from relatively far away in order to purchase their home, but the evidence seems consistent – once you find the place you want to settle down, you might move to a better neighbourhood, for a nicer view, or to be closer to the school you want to get your kids into, but odds are you won’t travel more than a half hour’s drive away. Specialist house-moving conveyers My Home Move analysed data on the moves of 26,000 families over the five years. The research revealed that while 70% is the average percentage of homeowners who want to stay close to home, that figure is a little lower in London, and much higher in some parts of the English countryside. Home-movers in East England, the North East, and in the South West were even less likely to leave behind their home turf, with approximately 90% deciding to move less than twenty miles from their old home. Why do some home-movers choose to stay close by? The choice to stay close by or relocating some distance away brings with it a set of challenges in both cases. As house prices continue to rise across Britain, and the amount of supply compared to demand shrinks, homebuyers act more cautiously. […]

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Defending Your Apartment Against Alien Invasion

ForRent.com

What would you do in the event of an alien invasion? That’s right, the correct answer is “it depends which type of alien is invading.” Alien aficionados and sci-fi fans alike know that there’s a big difference between Tall Greys, Short Greys, Reptilians, City Destroyers, and Draconians, to name just a few. Plus, how do you know if you’ve been abducted? Abductees tend to share certain traits, including suggestibility and sleep paralysis. They will sometimes notice unexplained scars, and will experience long gaps of time that they can’t remember or account for. Do any of these apply to you? It’s a spooky fact that reports of UFO sightings have increased steadily over the past 20 years. In the 1990s, it was fairly unusual to spot a UFO, but in 2013, 950 people in the United States reported spotting one. What does this mean for the rest of us? It means we need to know how to defend ourselves, and our apartments, from the inevitable alien invasion. For Rent has a new infographic about how to do that. It also includes handy information about the spots where you’re most likely to be abducted, plus much more alien info. Check it out! Source: https://www.forrent.com/blog/apt_life/apartment-alien-invasion/

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Is Build-to-Rent the new Buy-to-Let?

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The UK’s buy-to-let property market is no longer the cash cow it used to be. To discourage landlords and investors from buying up prime residential properties, the UK government has introduced steps to even out the playing field for first-time buyers. The introduction of a 3% levy on Stamp Duty Tax on residential buy-to-let and second homes created a surge of investment before the deadline started in April however, investment in the sector appears to have cooled. According to the latest figure from HMRC, only 84,300 homes were sold in May – much lower than the 171,220 purchased in March before Stamp Duty Taxes were increased. This coupled with the reduction in the amount of tax relief landlords will be able to claim from 45% to 20% which will be introduced in April 2017, has reduced the popularity of the UK’s buy-to-let sector. As traditional buy-to-let property investment becomes less appealing, the UK’s Build-to-Rent sector has emerged as a beacon of hope for investors. Building a better market The construction industry is thriving in the UK and many developers are struggling to keep up with the demand for new-build housing. According to the latest Knight Frank House Building Report, over 50% of developers intend to increase property starts and completions over the next year. Over the last year, the amount of completions was up by 12% when compared to the previous year and the number of new homes being built per annum increased by 60% when compared to 2010. Around 30% of developers believe that an easing of government regulations and planning permissions would allow them to boost the industry further. Building the gap between supply and demand is a key part of the government’s strategy however, developers require private investment to get their projects out of the ground. What is Build-to-Rent? […]

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Things you need to do before you moving out

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Moving out is a stressful activity, which requires a lot of preparation and effort. Here there are some useful tips not to forget when relocating to a new place, whether it is a small removal or a large house removal. Have a moving checklist in front of you featuring the next few essential things to do from four to two weeks before moving home. 1. Start packing and sorting your clothes and items in the kitchens and bedrooms, which you do not use on a regular basis. Put aside spare towels and bed linen, spare pillows for guests and etc. So that you pack all these things away now, and later, three or two days before moving you will only need to pack away a few things you have been using to survive for the past days. Clean things out of your garage and pack items which you are planning to remove to a new home. 2. Newington green estate and letting agent, M&M Property advises you remember to let companies such as broadband you are using, telephone line, utility services know that you are changing your address. Tell them your new address together with the date of you moving out. This is essential, so that the electricity, gas and water bills are not coming to your card for your name after you have moved out of the property. 3. When you are moving house, you might be ordering man in a van for a moving services to another town. In this case you might lose your right to vote. Make sure you notify the authorities about your move, so that in the future you are able to attend elections. 4. Make sure you have checked how late you are able to notify the landline and broadband suppliers before your move. Some […]

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5 Reasons To Downsize & Buy A Park Home In 2016

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Park homes offer many attractive advantages for homeowners, one of these being to downsize into a more comfortable and manageable sized home. This could be particularly beneficial for those who are approaching retirement and are in search of accommodation which is more convenient whilst also offering a real sense of community. Perhaps you yourself are approaching retirement and are considering what the benefits of park home living could be. With over 250,000 Brits currently residing in park homes, let’s now take a look at five reasons to consider park home living and how it could be the perfect decision for you. 1.Affordable Residential park homes offer the attractive prospect that they tend to be much more affordable than traditional homes. In comparison to traditional homes constructed using bricks and mortar, the park home agreement states that the one takes over full ownership of the park home itself but not the land on which it’s situated. For those considering downsizing, a park home is also ‘a great way to release sizeable amounts of equity from a previous property’ as explained by Sell My Park Home’s infographic discussing 10 reasons to consider purchasing a park home. 2. Sizeable yet manageable When looking to downsize, it’s important that you opt for a home which is more convenient to suit your needs. Another one of benefits which may attract individuals to opt for residential park homes is that living in more manageably sized accommodation stills allows for spacious and independent living, whilst also being more appropriately sized. Not only is the inside of the home spacious, however, the outdoor area within the park home also offers plenty of space, as well as a much quieter setting. This isn’t only in terms of the garden which divides the park homes allowing you more privacy, but the surrounding area of the […]

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Homeowner Tips: What Makes a Good Property Valuation?

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A property valuation transforms a house into an asset. The goal of a good property valuation is to find out how much people will actually pay for your property in the current market. You want a pricing that is competitive, but still realistic. Avoid common valuation pitfalls by knowing what you should be looking for in a good property valuation, and learn how to make the most out of yours. What goes wrong with property valuations? A property valuation is a complex process that takes into account multiple market factors. Here are some common things that go wrong with property valuations: Undervaluation (undercutting the market) Overvaluation (pricing yourself out of the market) Lack of communication between agent and seller can easily lead to misunderstandings People taking property prices personally/disagreements over valuation Incomplete market data leads to a proposition that is out of sync with the market Personalised and local estate agent services Getting a free, impartial, and trusted property valuation from experienced estate agents in your area should be your first port of call. Lots of local estate agents offer free property valuations, but make sure you clarify beforehand what exactly you are signing up for. Naturally, a free valuation service is often the agent’s opportunity to make a good impression on you and get you to sign up for their services. What to look for in an estate agent who will be doing your valuation: Someone friendly that you can easily communicate with (look for a listener, rather than just a talker) Someone capable and punctual who makes a good, professional impression Someone with detailed knowledge of the local area The key to getting a good property valuation is often getting a good estate agent. If you are selling locally, you want an estate agent who will take the […]

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What future for UK property and overseas investors post-Brexit?

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Industry expert, Yulia Kozhevnikova, from overseas property broker Tranio.com explains what’s happening on the British property market and if Brexit will really change how investors feel about London. 1 What is the current sentiment in the UK market so far? Property prices in the UK continue to rise, as do London home values. Prices went up 4.2% year-on-year in Q4 2015 in the UK and 11.4% in the capital. The best-performing region is undeniably Greater London, followed by the South East. Foreign activity on the market has slowed compared to last year as has price growth, due to uncertainty around Brexit, the oil slump and a stiffer Stamp Duty for luxury homes, but sales volumes in the best-performing regions are rising, and it’s highly unlikely that the market would totally freeze if the UK were to leave the EU. 2 How could Brexit affect British property markets? The main pre-referendum sentiment is uncertainty. Nobody knows for sure what will happen to the UK if it leaves the EU, because no country has tried to leave before. Everybody’s a bit on edge at the moment mainly because there are no historical data or reference points as to what to expect, what hurdles, benefits and of course, potential economic damage such a move would cause. However, in terms of property, Brexit would not directly affect the demand/supply imbalance and this is the leading factor in determining the main market trends. Worst-case scenario – say, the pound slumps and property prices fall – the now overheated London market would become more affordable and, thus, even more attractive to international investors. Even if property prices drop 5%, it won’t mean anything for such a hot market like London. 3 What is investor sentiment like from international markets? Some buyers welcome the referendum thinking that it will benefit the UK economy by becoming independent from continental European markets. However, others are uncertain and this delayed some bigger commercial property deals. The London property market is in great demand from wealthy Chinese and Middle Eastern buyers but Russian interest is lower than 2–3 years ago, mainly because of their economic trouble at home […]

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Chinese investment to grow in London property business

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Currently, Chinese investors typically invest an average of £2 million on new off plan London property. But this is set to change as Chinese investors are expected to take advantage of the new Chinese capital outflow policy which allows for more money to be moved overseas. The policy permits individual Chinese and companies to directly acquire stocks, bonds and real estate in overseas markets, and removes most of the financial limits on such transactions. The new policy is expected to see more Chinese investment in London property which continues to hold a great appeal for Chinese investors. Simon Barry, head of new residential developments at Harrods Estates explained that there are currently capital restrictions which prevent individual Chinese from moving more than US$50,000 out of the country per year. But with changes made to the Qualified Domestic Individual Investor Program which frees up cross-border money flows for individual financial transactions, the UK property market is set to see a surge in Chinese investment. “The program will be open initially to anyone working in six major cities with assets in excess of circa US$160,000, and will allow them to export up to 50% by value of their net worth. For corporate investment the capital limit would rise significantly to US$1 Billion (from the current $300 million),” Barry explained. The recently announced policy changes are yet to be implemented, but estate agents and investment companies are gearing up for an expected spike in Chinese investment in UK property. The new policy announced in June, is aimed at improving the global appeal of the Yuan and ultimately, to have the Yuan declared an official reserve currency by the International Monetary Fund later this year. Until now, significant overseas real estate investments by Chinese individuals and businesses have been carried out through underground banks. Investors who […]

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The key to successful property investing – a strong support network

Prospect Investors Club

Property investing has been a highly profitable avenue for people to achieve wealth for a long, long time. As the UK population continues to grow, the demand for living accommodation grows with it. This fundamental rule makes property extremely attractive to investors! So why don’t more people invest in property or why do so many people give up too early? Because it’s a challenge! It’s true. Although anyone can successfully invest in property, it’s not ‘a walk in the park’. You need to execute vigorous research, carefully select your property investment strategy, which I’ll talk about another time and then there’s also financing your project. However, all of this becomes ten times easier if you build a solid support network! I’m extremely fortunate that I met my property mentor, James May, over 15 years ago and he shared his knowledge with me. We now run Prospect Investors Club together and through it, I’ve met hundreds, if not thousands, of other investors and property professionals. Each of who have each helped me on my investment journey. However, it’s my Power Team that are the ones who; help me execute my investment projects, identify new investments, arrange funding for my next purchase and also to make the most out of my existing portfolio. Without them, sure I’d still be able to invest in property and I’d still make a profit, but it would be a lot more of a challenge for me and I wouldn’t be as successful as I am today. How can I build my Power Team? If you follow any property investor, you’ll notice that they attend a lot of property networking events. Why do you think that is? It’s not just to flaunt their success or push their products to you, it’s actually to meet like-minded people. People […]

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