Westminster Prices Falling

 

 

Westminster Prices Falling

I am not sure if this should really be called ‘the sound of the suburbs part two’ or try and think of something clever about the smartest parts of London not looking like the smartest places to invest in property nowadays?
According to the leading property services group LSL the house prices in areas such as Kensington and Chelsea have fallen by up to 22% since autumn 2014.

A report from LSL identifies that the areas of Kensington and Chelsea alone had seen prices plummet by 16% since a peak in September 2014.

Prices in Westminster were seen to fall by around 22% between a peak in November and the end of May 2015 which has been blamed in part on the December introduction of changes to stamp duty which penalises expensive properties.

Changes to stamp duty have meant that the average priced property in Chelsea or Kensington will see an increase of around £120K in stamp duty whilst buyers of properties worth less than £937K will now pay less stamp duty than they used to. This has resulted in the market slowing down and more importantly (according to the RICS) housing stock levels falling.

As we reported recently this has once again lead to increases in the suburbs both in London and other areas of England and Wales as the popularity of moving out of the city centres and taking advantage of improving transportation networks and more importantly affordable properties kicks in.

The RICS now predict that the shortages in housing stock are likely to cause house prices to rise in England and Wales by a whopping 25% over the next 5 years.

It is reported that prices in thirteen of London’s suburbs have now seen prices hit new highs, away from the South East, the strongest growth was expected in north-west England, home of The House Crowd as a result of the government’s northern powerhouse initiative perhaps this will grow again if/when the HS2 rail links are completed?

You can read more about the strengthening Manchester economy in our guides, simply click here to download the packs.

 

 

House Prices On The Increase

 

 

House Prices on the increase (at last!)

Finally house prices are on the increase!
According to reports taken from recently published Land Registry data it has been identified that the average price of homes in both England and Wales has almost reached the similar figures to those of the 2007 market when prices were at their peak.

The Land Registry data generally showed a 5.1% annual increase in house prices to take the average value of properties to £179,817. It should be noted that this is less than £2,000 from the £181,014 peak which was recorded pre economic slump back in November 2007.

Semi-detached houses were seen to be the main catalyst in the house price growth. Prices for Semi-detached properties were reported to have been generally rising by 5.6% over the course of the year. The market for flats/apartments saw an increase of 5.4%. This increase saw the flat/apartment market growing such and becoming the second largest in the housing sector.

Regionally there were no major surprises when it came to house prices where the London region recorded the biggest increases (up by 10.1% over the previous 12 months) whereas Wales by contrast saw an increase of just 0.3% although cities such as Cardiff and Swansea have reported 11.2% increases.

One area that has seen a high % growth in house prices a little closer to House Crowd HQ is the South East Manchester district of Trafford. Possibly not the best news for first time buyers in the area but there has been an increase of 9.2%. The proximity of Trafford to retail hubs such as the Trafford Centre, the introduction of the Metrolink tram system linking the commuter belt with the Manchester city centre and the regeneration and relocation to Salford’s Media City by the BBC will no doubt have influenced these increases.

 

Keep an eye on the latest House Crowd investment opportunities on our website pages and make sure that you are signed up to receive all our early bird notifications through social media channels.

 

 

This Is The Sound Of The Suburbs

 

 

This Is The Sound Of The Suburbs


Recent figures show that house prices in central London are starting to fall and the suburbs are becoming the place to be. Homes in Kensington and Chelsea have already seen prices fall by 1.6% during February and March 2015 as people head to the commuter belt for a more affordable lifestyle and more importantly affordable property prices.

 
The upcoming introduction of the Crossrail link has been seen as a major influence in the sudden increase in house prices in the suburbs where the popular areas of Greenwich, Reading and Bracknell in particular are now becoming very popular with commuters.

 
Prices in Greenwich have risen by a reported 18.8% recently, Bracknell which is close to the M4 in Berkshire has seen annual rises of 13.6% and figures in Reading are reported to be in the region of 13.5%. Cheaper house prices and improved transportation links to the centre of London are being seen as a major factor in these new commuter areas becoming more popular and this has lead to some parts of south-eastern England seeing annual rises in house prices of more than 13% each year.
Figures made available by the Land Registry have shown that prices in some parts of Outer London have increased by nearly 20% a year again swelling the movement out to the suburbs and increasing prices in these now popular commuter belts.

 
Similar can be said for Manchester where the expansion of the Metrolink tram system into East Manchester and beyond has lead to rises in house prices of 9.2% in both Trafford and Salford.
The areas are also popular with our own House Crowd property team when they select new investment opportunities and the introduction of the BBC and Media City to the newly regenerated Salford area will also have contributed to these rising prices in what were unloved parts of Manchester.
If you are a regular House Crowd investor you will no doubt be aware that we have been selecting our portfolio of properties in these parts of Manchester always keeping one step ahead of the new markets.
North of the border figures reported by the Registers of Scotland showed that in East Lothian at the eastern fringes of Edinburgh property prices had seen an increase of 28.6%.

 
However the same cannot be said for all parts of the UK, in the north-east prices were seen to fall 4% during the period February to March 2015. An example of Darlington, County Durham was reported by the Land Registry to have seen prices fall by 6.2% over the last year.
 

The housing experts are now expecting that the average house prices will rise by 5-6% during 2015 partly due to the cost of borrowing remaining low and introduction by lenders of products such as a 1.09% 2 year fixed rate mortgage deal.
 

Keep an eye on the latest House Crowd investment opportunities on our website pages and make sure that you are signed up to receive all our early bird notifications through social media channels.

 

 

The Early Bird

 

Early Birds

Ever wondered what the little bird character is that we have started to feature on our website and social media?

EarlyBird

The little character is our ‘Early Bird’ and he’s here to make sure our investors know when our new projects are going live.
We hate it when people miss out on our new projects and often get asked if we give priority to existing investors or if it’s a case of first come first served.
Here at The House Crowd we operate on a first come first served basis.
With the introduction of the ‘Early birds’ we have now tried to make it as fair as possible and having listened to our investors we have introduced a few new ways of alerting them of our new property crowdfunding projects.
We have designed a great new feature for each project which details a few bullet points describing the property, some of the numbers and of course a few photographs.

Are you a Facebook user? If you are then why not pop over and like our Facebook page, you will then be able to tick the box which gives the option to ‘get notifications’ then every time we upload a new project ‘Early bird’ on Facebook you will get an alert!

The same goes for the people who follow The House Crowd on Twitter where we will be uploading our early bird alerts to advise when we are launching a new project.
For those who don’t use social media keep an eye out for our emails from Frazer who will be keeping everybody up to date on our upcoming property crowdfunding opportunities.

 

4 Macro-Economic Factors That Can Affect Property Prices

 

4 Macro-Economic Factors That Can Affect Property Prices

According to an article by RICS UK residential director Andrew Bulmer there are 4 factors affecting property prices which you can use to help you buy properties that will increase in value.

 

  1. Housing shortage:
    We all know there is a housing shortage in Britain at the moment, every politician, pre-election reminds us this by donning a high viz vest & trying to lay a few bricks under the eye of a nervous assistant and a chuckling bricklayer.  This simple supply and demand for housing stock directly pushes up the prices of properties. It’s the same with supplying housing stock to the Local Authorities and a contributing factor to the areas in Manchester where The House Crowd choose many of their properties.
  1. A growing city
    As our investors know, The House Crowd’s core business is buy to let properties in Manchester.
    The city is now one of the country’s buy-to-let hotspots. The city’s population has grown by 11% between 2001 & 2014 and with hubs such as the BBC at Salford’s media city it is probably the top relocation destination for businesses moving away from London. This strengthening market is of course music to our ears as far as both our single let properties and HMOs are concerned!
  2. Planned transport links and transport infrastructure
    We all love to complain about traffic, especially in Manchester where the M60 seems to be getting more like the M25 carpark everyday. Over the next five years, £530M of government investment will be flowing into North West transport links these infrastructure improvements will eventually deliver improved connections to work and leisure destinations around the city. The improved transport hubs will again influence property prices once the improved infrastructure and connections are in place.
    It’s well documented that in London, property prices within a 10-minute walk from Crossrail stations have risen even faster than average London property prices.
  3. Gentrification of an area
    We all know about the ‘Waitrose effect’ where changes in urban community lifestyle and an increasing number of wealthier residents lead to increasing property prices. Most estate agents will tell you how the introduction of a Waitrose and the gentrification of an area suddenly turn a leafy suburb into the next place to be therefore increasing property values. In these locations undergoing gentrification, the average income increases. Poorer pre-gentrification residents who are unable to pay increased rents or property taxes find it necessary to leave.

RICS UK residential director Andrew Bulmer commented: “It comes down to the economy. London 30 or 40 years ago was a little bit grotty. As the city became wealthy and powerful that wealth rippled out.”

But if you are going to play that game you really need to get to grips with your local areas and understand what is making your city tick.

There is a concept called ‘the new build premium’. When a house has never been occupied it has an attraction to buyers. And that is logical, because a new house should be low maintenance. Once it becomes second hand, it obviously won’t attract a new build premium.”

 

Top presentation tips for selling your home – Part 1

With years of property buying experience, we have come across houses for sale presented in outstanding, average and downright terrible conditions. In a buyer’s market, it is crucial for sellers to present their property in its best light to stand out from other options and receive bids close to their valuation. Below is the first part of our easy-to-implement top tips for maximising your chances of selling:

  • Always clear clutter. It’s incredible how many properties we’ve viewed which are stunning on the outside, but reminiscent of a bombsite inside. Whilst some prospective buyers have the ability to look past mess and imagine rooms as a blank canvas, clutter always makes rooms feel smaller, which could be a defining factor on whether you receive an offer.
  • Decorating rooms with neutral colours might not be what movers will stick with, but it enables them to envision your house as their home. Your brightly painted walls and patterned wallpapers need to go as they carry far too much of your own personal touch.
  • How many times have you looked at an over-grown lawn with derision, without paying any attention to the property it belongs to? Your green space doesn’t need to be reminiscent of an English Country Garden, but pruning hedges, cutting the grass and planting tasteful, understated flowers can help your property standout against other houses on the street and possible competition.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If you’ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).

Priced out of owning or investing in property – we can help.

Recent statistics have shown that owning a flat is now on average 7% higher than a year ago forcing many to rethink their dream  of owning or investing in property. Average rental prices have also increased significantly due to increased demand as many would be buyers are unable to find the deposits required to purchase their own home or an investment property.

With  The House Crowd  you can have a foot on the property ladder from as little as £1,000 and see an excellent return on your property  investment.  A great way of saving for that deposit for your own property by investing in property through a crowdfunding property investment model.

http://www.thisismoney.co.uk/money/mortgageshome/article-2141824/The-cost-renting-flats-surges-7-time-high-young-priced-buying.html