London Best Property Guide

From Hurford Salvi Carr 2010 search

The implementation of the Government’s austerity programme will continue to have a significant influence on levels of confidence in the housing market. On 4th January 2011, the VAT rate is set to increase from 17.5% to 20%, which is likely to dampen demand for goods and services with knock-on effects across the economy. On 6th April 2011 the new rate of stamp duty of 5% for residential sales in excess of £1 million comes into effect. We can expect to see an increase in activity at the high end of the market in response to this in the first quarter of 2011 and a concomitant slow down in activity once the measure comes into effect.

In the sales market in Midtown, London City property and Docklands we expect to see prices weaken slightly in the first half of 2011, with a marginal reduction of 2% continuing the trend seen in the second half of 2010. This reflects the reduced level of confidence in the market arising from the economic outlook, but is set against the restricted amount of stock coming on to the market.

In our view the overall level of transactions will remain relatively low in the first half of 2011. Some vendors will withdraw from the market given evidence of weakness. The fact that rents have been rising and look set to continue increasing will encourage some owners to put their property on the lettings market on a temporary basis. On the other hand we do envisage the market being strengthened in the second half of 2011 by increased interest from investor purchasers driven by evidence of rental growth and higher yields. As a result, there is potential for the rate of transactions to rise in response to increased activity, including from Buy-to-Let (BTL) investors. This could lead to a stabilisation or marginal increase in sales prices in the second half, so overall we see no change in prices as the most likely scenario for 2011. This is in line with other forecasts for central London house prices.

The prospect of an increase in gross initial yields could become an increasingly important factor in the sales market as 2011 progresses.Our indicative average yield for a one-bedroom flat was 5.6% at the end of 2010. If rents continue to rise at around 10% per annum and prices remain flat, then yields will increase to 5.9% by mid-2011 and 6.2% by the end of 2011. Yields in excess of 6% are likely to attract investors and be supported by BTL mortgage lenders, so there is potential for a return of BTL investment, albeit not of the scale experienced up to 2007.

Meanwhile, pent-up demand from frustrated renters will continue to be a dormant presence in the sales market. As conditions in the mortgage market ease over the next few years, then we can expect a drip-feed of first-time buyers to enter the sales market and lend support to prices. The sales market is also likely to remain supply- constrained until there is a significant increase in new homes completions which is unlikely before 2012-2013.

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According to the latest census population, UK is considered as the sixth largest country in the world, the third largest economy, and the second largest according to financial economy. During the early 18th century the first country in the world to start of industrialization. No wonder the real estate industry has become a boom here. Where will every one stay? The answer for that question is rent properties. Any common person cannot own his or her own home. However, one can rent a house or an apartment according to there living standards. One who wishes to move to a rented apartment need to contact a broking agent. You need to pay weeks rent or so to the agent.

There was a boom in the industry for seven years until 2008.During this period it was found that the land prices have gone upto three times. There are a number of reasons why the price of land as gone so high. Some of the reasons are economic growth, Fund availability, low interest rates, high investment in property sector, and the planning restrictions on supply of new houses. The market is back in growth in the recent past. It is found that apartments are fast moving in the property sector. Many agents state that they have made a decent income from this. The facts and figures in the UK economic growth also says the same

The recent growth noticed in the industry is that many students from different parts of the world come down to U.K for four to five years of time. Some of them are also settled in the UK. In the year 2006 the U.K economy stood steadily only because of the contribution from the real estate sector i.e. just letting alone £83,037 million, Real estate and support activities £175,333 million. Hence, there is no question whether it is a booming industry or not. Renting properties is of no doubt, one of the biggest industry in the U.K property portal  findaproperty.com.

Globally popular for its Michelin-starred restaurants, designer shopping, fashionable nightlife in King’s Road, Sloane Street, Belgravia, Chelsea is mainly favored by rich foreign purchasers. If you are looking for any flats or apartments in Chelsea, then you consult any of the real estate agents in Chelsea. There are several real estate firms and agents are available in Chelsea and you will never find that there is no shortage of exquisite apartments and spacious houses to purchase.

The real estate agents in London have recently figured out that the number of Chinese house buyers in London has witnessed a rise. It is a well known fact that the Chinese people are allowed to purchase only one house in China, as per the Chinese domestic policy. In fact, many companies have appointed special agents, who know to speak Cantonese and Mandarin for coping up well with the Chinese buyers. In fact, the sales negotiators are already busy traveling to China having some conversations with the investors there. Of course, the Chinese investors are feeling free to invest in the properties in London with a lot of expectations. The major expectation is that there will be a rise witnessed in the authentic exchange rate in a few months. The Olympics, which is to be held in 2012, is expected to created many job and business opportunities. In fact, it is also believed to create an asset appreciation.

The Chinese buyers have made sales of up to 30% for many of the companies. In fact, they have been the major reason behind the rise in sales. The numbers of Chinese buyers is expected to rise this year as well. The Chinese buyers are out there busy involving in bargains for purchasing varieties of assets. In fact, the possibilities for acquiring foreign assets for reasonable prices are quite high for the Chinese people.

Obviously, London is the place where you will be able to find many of the top UK universities. Hence, many Chinese students are looking forward to get comfortably accommodated in this part of the world. This is the reason why their parents are busy in search of a good house in London. As a result, it will again add up to the number of Chinese house buyers in London.

A three bedroom penthouse apartment located on the top two floors of a converted warehouse on Bowling Green lane. Accessed on the 4th (top) floor, via the original warehouse lift, the apartment comprises two reception rooms, balcony, kitchen and WC on the upper floor.many amenities that Exmouth Market provides

MAIN FEATURES

* Three Bed Penthouse

* 1196 Sq ft / 111 Sq m

* Balcony

* Converted Warehouse

There was some evidence in the first half of 2010 of the easing of bottlenecks in the flow of mortgage finance. Two mortgage providers, HSBC and Santander (Abbey), tailored sensibly priced products for the market. As a result the two firms have, according to a report in the Evening Standard on 27th May 2010, increased their market share between 2008 and 2010 from 13.7% to 20% in the case of Santander and from 6.7% to 11% for HSBC. Over the same period Lloyds, which includes Halifax, went from 30% to 24% of the mortgage market. In addition, private banks targeting wealthy buyers entered the market, including JP Morgan, Standard Chartered and Investec Private Bank, and are potentially of benefit to Midtown, City and Docklands buyers. According to MoneyExpert.com the number of fixed rate mortgages on offer at a 90% loan to value (LTV) ratio doubled in the year to February 2010 from 78 to 147.

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Overall, however, loan to value (LTV) ratios remain historically low and terms and conditions more onerous than in the past, leaving buyers to find 20%-30% deposits and pay high arrangement fees. The “Bank of Mum and Dad” continued to be a prime source of deposits, with parents and grandparents increasingly utilising equity release plans to get their children or grandchildren on to the housing ladder.

At the national level the Council of Mortgage Lenders (CML) recorded very modest growth in lending, better than the first half of 2009, but still “quiet and subdued”. The General Election and its aftermath dampened the sales market at the end of the first half of 2010. The Emergency Budget and the general level of economic uncertainty at both global and national levels indicate that there is unlikely to be further price growth in Midtown, City and Docklands in the second half of 2010, so we are forecasting stable residential prices over this period. In the rental market, however, the supply and demand factors which created rental growth between June 2009 and June 2010 will still be in place, during the period of the year when demand for London rental property is at its height. As a result, we expect to see a further increase of 5% in rent levels in the second half of 2010.

Ten years age the solid Victorian terraces in well maintained Queen’s Park attracted the middle class young professionals and media workers of BBC who needed spacious flats. It is understood that the buyers are ready to pay 25% more and live in Queen’s Park than Property in Kilburn though they are few streets apart.

Queen’s Park Partnership has mentioned that in very near future Kilburn will share the postcode MW6 & it will not exist. It’ll either be West Hampstead or Queen’s Park.

In 1311, Bow remained an isolated village, often cut off from Stepney Church by flood. Permission was given to build a chapel of ease to allow the residents a local place to worship. The land was granted by Edward III, on the King’s highway, thus beginning a tradition of island church building. St. Mary’s Church stands on the traffic island in Bow Road. The base of the tower dates back to the late 1400s and the top of the tower was rebuilt after bomb damage in the World War II. Bow church is sometimes mistaken as the home of the Bow Bells which actually reside at St Mary-le-Bow Church on Cheapside in the City of London. The No 8 bus terminates at Bow Church.

In Fairfield Road stands the old Bryant and May Factory. It used to be the largest match factory in the UK. The brick entrance includes a depiction of Noah’s Ark and the word “Security” used as a trademark on the Matchboxes. The factory was closed in 1979 and the building is now a major private apartment complex known as the Bow Quarter. The statue of William Ewart Gladstone which stands outside Bow Church was donated by Theodore H Bryant and May Match factory.

Bow was also the site of the headquarters and maintenance depot of the North London Railway who also had two stations in the area named Old Ford and Bow. During World War II, the North London Railway branch from Dalston to Polar through Bow Property was so badly damaged that it fell into permanent disuse.

In 2000 and 2001 the Big Brother UK house was located at Three Mills Studios in nearby Newham, often reposted as Bow because the studios are included in the E3 postal district.

The future for Bow and its environs is going to be bright, money invested in the area should reap rewards as a synergy to the government spending the area.

The regeneration of Bow and its environs has been further enhanced by the announcement that the 2012 Olympics are going to be held in East London.

The Clara Grant Primary School, Bow School, Central Foundation Girl’s School are among high ranked schools in the vicinity.

There are many major landmarks including the Canary Wharf (the tallest building of the Britain) and the border attractions of the ‘U’ Bend River etc, which have been the major reason for the kind of position that the Isle of Dogs is enjoying when it comes to history. No one can ignore the fact that Isle of Dogs will concentrate much of the area of London Docklands. Moreover, there was a massive redevelopment witnessed in this part of the world in the last decade. This area comprises of many attractions including historic buildings, restored warehouses etc. There are also many office development works and contemporary housing complexes witnessed at present in this area. The great thing about this area is that it has won many awards for coming up with some awesome designs usually made making use of steel and glass.

Robert de Niro, Cher and many other well known international celebrities have their penthouse apartments in this part of the world. Many high rise towers including the tallest building of the Britain Canary Wharf Apertments have played a major role in the financial sector of this city. We, the reputable real estate agents in Isle of Dogs, boast ourselves with a highly knowledgeable staff, which is always ready to clarify your doubts and to answer for your queries. We are also one of the reputable members of some major real estate agents association in this city like Estate Agents Ombudsman Scheme, Residential Letting Agents, National Associated of East Agents etc. Hence, no doubt, since we have the best professionals of all times when it comes to real estate, your wish of buying, selling, renting a property in this area is nothing that big to worry about.