Welcome to this week’s property news and views round-up.
RICS Revise House Price Inflation Figures for 2015
After starting last week’s round-up with a tale of woe; it’s only fitting we start this week with more welcome news. Greater demand for houses, and less supply always being a bonus for anyone investing in property. So, some may have been salivating after this week’s announcement by the Royal Institute of Chartered Surveyors that they are revising house price inflation figures for 2015 upwards to 6%. It was 3% at the year’s start. Mortgage lender Halifax also told the BBC that August saw the highest monthly increase since May 2014.
Size Does Matter – On Social Media
The incendiary issue of whether size matters proved to be less divisive on social media than among women. It clearly does, as a house featured on Grand Designs went viral for seemingly no other reason than being incredibly big. Businessman Clinton Dall had a dream. Not a real grand design dream like Martin Luther King, but the bricks and mortar kind. He wanted to build a bloody big house. Which he did. And, it’s quite minimalistic too, and, as The Daily Mail bizarrely pointed out, could fit four fire engines in the lounge. Maybe it was this particular journalist’s playground fantasy that prompted the comparison: “When I grow up I’m going to have a home that houses not one, but four red fire engines.” Care to see what all the fuss was about? Then click the following link to see the week’s most shared story on UK social media. There will be a prize of four, toy fire engines for anyone who can conclusively explain why it became the week’s most shared story.
BTL Investor Baffled by Government Attack
Here at House Crowd HQ, we are, predictably, hugely in favour of property investing. Bringing its benefits to the many being what prompted founder Frazer Fearnhead’s creation of the world’s first property crowdfunding platform. (You’ll find we mention that a lot; it’s something we’re quite proud about.) So, equally predictably, we’re opposed to the attack on mortgage tax relief for BTL investors announced in last July’s budget – even though, perversely, it could help House Crowd investors. One property investor this week told The Telegraph just how counterproductive these measures could be to the Government’s own aim of creating new homes. Torquay landlord Martin Chilvers has been busy, amassing a portfolio of 75 properties. But, contrary to arguments claiming properties will be more abundant with restrictions on BTL buying, Mr Chilvers states the reverse. “The Government justifies its attack on buy-to-let by saying landlords have an unfair advantage over people wanting to buy their own homes,” he told The Telegraph. “But no homebuyer was competing with me on any of these properties.” Because he developed and refurbished them. Stimulated, no doubt, by the profits such actions would bring. A stimulation to create new homes currently under attack. Perplexed? Us too. See if you agree with Mr Chilvers’ point.
Investing in Student Areas
Purchasing a hovel in a student letting area, adding a few essentials like bare lightbulbs, and second hand netted curtains seems like an evergreen property investing idea. The students will thank you for creating an authentic, time-honoured student experience, and you can be quids in by letting 27 work-shy fops live in a house with four bedrooms. What’s not to love? The Telegraph kindly helped anyone with such Rachman-like ambitions by mapping the university towns with the best academic credentials and most affordable property. We won’t spoil it for you by telling you the location that comes out on top but unsurprisingly it wasn’t London.
The Corbyn Cometh?
It would be remiss to end the week’s property news without mentioning that there’s going to be a new Labour Sheriff in town. If, as predicted, 80s throwback Jeremy Corbyn claims the poisoned chalice, then what will this mean for property investment should he subsequently win a General Election? Forensic analysis of the press that we have conducted just for you leads us to conclude that Comrade Corbyn will introduce measures making private ownership of property illegal. Then, line up all speculators of any kind against the wall to be shot, having declared them class enemies of the new communist commonwealth. At least that’s what the tabloids would want us believe. Expect their assault on Corbyn, should he win, come election time to make ‘the ‘last person to leave turn the lights out’ headlines of the Kinnock era look like a bit of friendly banter with your best mate.