Meet the landlord spreading festive cheer this Christmas

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Many landlords go above and beyond when it comes to their tenants and their local communities. George Munns is a landlord and a farmer in Chatteris, close to Cambridge. He works hard to build a strong community with his tenants. Here, he talks to Victoria Barker about balancing his busy job as a farmer with […]

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Election hustings date for Wales

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Policies affecting landlords and the private rented sector will be debated at an election hustings event in Cardiff this Thursday (December 5). Organised by the RLA, representatives of the three main parties will discuss plans for the sector and answer questions from the audience.  Speakers are; Baroness Debbie Wilcox, Leader of the Welsh Local Government Association, for Labour, Bablin […]

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3 bed 2 bath houses for only £138,000 – Hull

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PIP is delighted to launch 3 bed, 2 bath new build houses in Hull for the discounted price of only £138,000.

These properties have been discounted by 11% off current list prices and include flooring, turf and fencing included in the price.

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What do the party manifestos mean for the property industry?

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With the 2019 general election just around the corner, the
majority of Britain is focussed on the political sphere as the nation
speculates about how things will pan out on 12 December. All the major parties
have now launched their 2019 manifestos, outlining their key policies and
pledges. Each party’s manifesto presents different potential legislative
changes, which will impact buy to let landlords and the private rented sector
as a whole.

While Brexit has been the major focus for the 2019 election, housing
features prominently in the manifesto policy pledges from all parties. From
Labour’s rent control policies, to the Lib Dems’ Right to Buy reform and the
Conservatives’ ‘lifetime deposit’ scheme; there is a lot for the British public
to consider when it comes to housing that may influence their vote.

Each party’s manifesto has implications for a different
future for the private rented sector in the UK, and those operating within the
industry are making their decisions based on which policies benefit their
values.

Sean Hooker, Head of Redress at the PRS, offers
his insights into how the key party pledges on housing will impact those
involved in the property industry in his reflective article, ‘Promises
promises promises! What do the party manifestos mean for the property
industry?’ Sean provides an overview of the pledges which relate to
the property world that each political party has included in their 2019
election manifesto. He also delves into the key messages from the campaigns and
discusses some of the implications of the main proposals in each manifesto.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – What do the party manifestos mean for the property industry? | LandlordZONE.

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Concerns over councils investing in retail properties…

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Retail Investments:

A recent trend for
hard-pressed local councils to supplement their income by borrowing
to invest in commercial property could be a dangerous short-term fix
warns central government.

The Treasury is
attempting to steer local authorities away from this strategy, some
of which have purchased retail premises occupied by struggling high
street businesses. The result, thinks the Treasury, could be councils
being forced into bankruptcy.

Fall-out from High
Street businesses going bust, creating high vacancy rates in many
towns, results in rapidly falling local property values. Last week
interest rates from the Public Works Loan Board were increased by one
percent last week to reflect the increased risk, the Sunday
Telegraph reported.

As interest rates
rise, the cost of borrowing for local authorities could skyrocket,
while potential loss of income from long-term vacancies could
jeopardised the solvency of many a local council.

In the face of
struggling retail centres some councils have been snapping-up
shopping centres – five have been sold to councils since 2016,
while property companies have been exiting the sector. Whilst these
councils may have experienced a welcome initial income yield, this
often proves short-term; prices are low for a reason, and property
investing expertise is often lacking.

A recent deal involved Hammerson offloading the St Oswald’s retail park in Gloucester to the local council for £54m as the leading property company continued its own strategy of dumping retail shopping centres. Likewise, Mole Valley district council in Surrey bought an Asda site in South Wales for £11.5m, according to reports by The Sunday Telegraph.

Large property
companies are experiencing a torrid time in retail, with values
collapsing as more retailers go to the wall: Hammerson, British Land
and Intu have all seen their portfolio valuations and profits
decimated as their retail tenants close stores, seek rent reductions
or trigger controversial company voluntary arrangements (CVAs) to
rationalise and restructure.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Concerns over councils investing in retail properties… | LandlordZONE.

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Rental industry giant, Hamilton Fraser, to launch deposit alternative product

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UK lettings and landlord insurance industry giant, Hamilton Fraser, has announced the launch of its own in-house deposit alternative brand, Ome.

Having previously highlighted the problems surrounding the increasing trend for such schemes, Hamilton Fraser has decided to tackle these issues head-on itself

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UK Property Prices Sees Lowest Growth All Year

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Recent findings from the Halifax House
Price Index show that the UK’s property has seen a 0.9% growth in
price from October 2018. A property in the UK will now cost an average of
£232,249.

Halifax’s managing director Russell Galley has commented on these recent
figures, stating that “Average house prices continued to slow in October, with
a modest rise of 0.9% over the past year. Whilst this is the lowest growth seen
in 2019, it again extends the largely flat trend which has taken hold over
recent months.”

Mr Galley further claimed that “A number of underlying factors such as
mortgage affordability and wage growth continue to support prices, however
there is evidence of consumers erring on the side of caution.”

The Halifax report states that house prices in August to October (their
latest quarter) were 0.2% higher than the previous one, this being May to July.
The findings also reported a monthly change of – 0.1%.

Alongside this slow growth in property prices, findings from HMRC have
shown that sales in properties have been significantly high; reaching levels
that have not been seen since August 2017. From August to September, the data
reveals that there has been an increase in houses sold of 5%.

It has been reported that 101,740 homes had been sold this September. In
addition to houses sold, the amount of mortgages approved has also increased,
with reports from the Bank of England revealing that in September, 65,919
mortgages were approved.

Why are UK house prices experiencing slow
growth?

This year’s considerably slow growth of UK house prices may be due to
Brexit uncertainties, with Halifax’s Mr Galley stating earlier this year that
“We remain unchanged from our view that activity levels and price growth will
remain subdued while the UK navigates political and economic uncertainty”.

Many in the property industry believe that prices could begin to rise once
Brexit uncertainties have cleared, with Yopa’s chief property analyst Mike
Scott stating that once the outcome of Brexit has settled, “it may then give a
short-term boost to house prices”. Mr Scott further claims that “the stock of
houses for sale is quite low, and demand can react more quickly than supply
once the uncertainty is lifted.”

What the upcoming year will bring to Brexit, and to the UK more
generally, is yet to be determined. What can be said about this slow growth in
house prices at present, is that they are improving affordability to house
hunters across the country.

Ashley Ilsen from Magnet Capital commented: “There
needs to be a bigger push from the government to incentivise people to build homes
again. We all know we’re a long way away from the targets that we are supposed
to meet and this is not going to improve without drastic changes to both the
demand and the supply side.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – UK Property Prices Sees Lowest Growth All Year | LandlordZONE.

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Founder of Landlord Action, Paul Shamplina, wins Best Seminar Speaker

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Founder of Landlord Action and Brand Ambassador for Hamilton Fraser, Paul Shamplina, has won ‘Best Seminar Speaker’ at The National Landlord Investment Show Awards, after receiving nearly 40% of the overall votes.

The National LIS Awards took place on 21st November 2019 at the Grosvenor House Hotel

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Blog: Future Renting Wales 2019

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Welcome to the live blog from the RLA’s Future Renting Wales conference 2019! Landlords, letting agents and property professionals attended the conference in Cardiff and heard from Emma Williams, Deputy Director of Housing at the Welsh Government, Kate Faulkner and many more! Delegates heard legal updates, and about key issues relating to their lettings including […]

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The cost of an ASBO hotspot

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Research by Springbok Properties, has looked at the property cost of living in one of the nation’s most anti-social areas based on the average house price in locations with the largest number of ASBOs issued compared to the wider area.

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