DEMAND GENERATES RENTAL GROWTH

December 19 , 2011 | | In: Estate Agents

After a stable first half for the residential lettings market in Midtown, City and Docklands which saw static rent levels for two-bedroom
units, there was a return to strong rental growth across the board in the second half of 2011. Rental values for both one-bedroom and
two-bedroom properties saw significant increases (Figure 3). Weekly rents for one-bedroom units rose by 5% from £400 in June 2011 to
£420 in December 2011 while for two-bedroom flats rents rose at the slightly higher rate of 6% from £500 in June 2011 to £530.
Rising rents reflected increased demand which is typical in the second half of the year, but also responded to restricted stock levels
as many tenants elected to remain in situ at the end of twelve month AST leases. Our anecdotal evidence, however, suggested that the
pick-up in rental activity in 2011 was less pronounced than in previous years. In part we attribute this to lower levels of demand
from student renters some of whom have been priced out of the market, especially in Midtown and the City, by rising rents. There has
also been an increase in the supply of purpose-built student accommodation by specialist providers such as Unite and Nido and
an increase in short-term serviced rental operators.
There was also evidence of increased demand at the top end of the market, where apartments and penthouses rent in the range of
£750-£1,500 per week. It is now not unusual for tenants of apartments from Bloomsbury through the City to Shoreditch and
Spitalfields to be paying in excess of £1,000 per week in response to the cachet of City and City Fringe areas as residential locations.
The quality of units in these locations is high and tenants have become less particular about location, opening up a greater choice
of well specified apartments.

From Hurford Salvi Carr

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Home Improvement: Is it Really Worth the Effort?

October 25 , 2011 | | In: Investments

Apparently so, providing you get it right first time round. There’s been alot of debate recently regarding the true value of home improvement. People who are choosing to stay put rather than sell up and move are sprucing up instead. However, they’re not just making improvements willy-nilly. Gone are the days when all home improvement projects were deemed to be a good idea.

These days, homeowners are being advised to choose their projects wisely.

Certain home improvements are highlighted as being more cost-effective than others. The trick is pinpointing which ones are worth the time and effort.

According to Anna-Maria DeSouza, editor of BuildIt magazine, extensions and loft conversions are key renovations for vendors looking to maximise asking prices.

The true value depends on whether you’re looking to improve your quality of life or your bank balance. Those intending to stay put for a long time naturally want to make their homes more comfortable. However, anyone looking to make a home improvement or two with a view for attracting a higher sale price should really be quite cautious.

The key to making the right decision regarding home improvement to weigh up whether the amount you invest will be recouped upon sale.

Yes, it is possible to add value by extending and improving.

However, it can all go pear-shaped if you botch the job. It’s no secret that many of us cut corners when it comes to decorating. Whilst that can be corrected without too much hassle, the stakes become higher when the project is more complex.

Home improvement can be a money pit if you need to call in the experts to rectify mistakes.

When it comes to home improvement, honesty is the best policy. If you aren’t 100% sure that you can do a good job, reconsider or let the pros handle the work from the start.

A landlord’s worst nightmare: squatters

September 30 , 2011 | | In: Commercial

At any one time there are hundreds of unoccupied homes in the UK and such homes are often at risk of squatters. Vacant houses all over the nation could become occupied – whether they are repossessed houses for sale in Liverpool or flats up for rent in Leicester – and once in, it can be very difficult to remove squatters. This problem really is a landlord’s worst nightmare.

‘Squatter’s rights’

For most people ‘squatter’s rights’ are a little mysterious and people often hold erroneous views of the rights of someone living in a property that they do not own, without the owner’s permission.

There is a law that makes it illegal to use threatening or violent behaviour to enter a property where someone opposes entry. However, this law does not apply displaced residential occupiers or protected intending occupiers, so for instance such a person could break down the door of their own home without it being a crime.

Other people can’t force entry into any property where the person inside opposes entry.

Removing squatters

Being on someone else’s property without permission is not a crime in itself, but if other crimes are committed gaining access or inside a property, police can act and remove them.

If someone is a displaced residential occupier or a protected intending occupier then it is a crime for squatters to refuse to leave a property and the squatters can be arrested.

IPO

If someone is an occupier or a landlord then they have immediate rights to take possession of the property and should be able – within a few days – to get a IPO, an interim possession order. Squatters can then be served with this and must leave within 24 hours. For more advice on squatters for landlords and occupiers, it is wise to contact the Citizens Advice Bureau http://www.citizensadvice.org.uk.

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Buying insurance online

August 15 , 2011 | | In: Insurance

There was a time when purchasing a home insurance insurance policy means driving to the various local branches of different insurance companies, talking incessantly to high powered agents looking to add to their commission, while trying to get the best price and the best coverage for your dime. Although many among the general populace still do that, there now exists an easier way to get it done, all from the comfort of your couch or office chair.

Enter the Internet. Nowadays, more and more companies are realizing the usefulness of the Internet as a marketing tool and businesses like airlines are seeing spikes in the numbers of passengers due to the convenience offered by the Internet. Lately, insurance companies have jumped onto the bandwagon too.

One of the undisputed convenience that the Internet have provided is the ability to conduct your own researches and comparison of the various policies offered by different companies along with the degree of coverage and premium rate of each single choice. Even if you prefer to buy your policy from the local agent, such a tool would give you the capability of making informed decisions instead of depending on just the agent’s ethics in giving good advice.

The information available through the Internet also allows you to save commuting time between insurance companies because anything and everything you need is literally right at your fingertips. If you are unsure of the premium rates, almost instantaneous and accurate insurance quotes are readily available through the World Wide Web. Whoever you are, a high powered executive whose time literally means money or just a housewife looking to save on some petrol expenditure, the unparalleled advantage that the Internet grants can hardly be ignored. Even the purchase itself can be done online through payment methods like credit or debit cards giving you no more excuse to be uninsured.

There are of course certain drawbacks in online insurance purchases such as the non compatibility with certain browsers or operating systems. After all, the system is still fairly new and time needs to be granted for all kinks to be worked out. However, serious consideration can certainly be given to online purchasing when you need to buy your next policy!

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2011 new homes market

June 21 , 2011 | | In: Estate Agents

Individual borough data for the 1st Quarter 2011 reflects the dichotomy in the market which we have highlighted in previous Residential Reviews, with niche development in the central area and more extensive schemes in the central London fringes . Taken together there were 1,127 starts across the seven boroughs, representing 22% of the overall London total.

Indeed, if we look more closely at individual schemes within our market boundaries, a considerably smaller territory than the whole boroughs indicated in Table 3, the level of starts in the first half of 2011 was really quite low. Only 19 schemes in excess of 5 private units commenced in the first half, with a total of 498 private units, including both schemes built-to-rent and built-for-sale. Only four schemes offer in excess of 50 units, while 11 of the schemes contained less than 10 units, predominantly in refurbishment schemes, usually as a result of change of use from offices. Indeed, almost all the sites listed were formally in commercial uses, either office, industrial or warehouse. In our view the market, in its current state and projected prospects, can easily absorb this level of construction activity of private units to rent and for sale.

Sales rates and prices have hit new highs for schemes under construction. At Marconi House, Strand, WC2, Frogmore and Galliard, which acquired the residential element of a hotel site which had halted during construction after a receivership, succeeded in selling 61 of 79 units in the Far East at prices between £1,500 and £1,600 per sq ft. Unit prices ranged from £550,000 to £745,000 for studios; £840,000 to £1,195,000 for one-bedroom flats; £1.4 million to £2.25 million for two-bedroom flats; and £2.9 million to £4 million for three-bedroom flats. Due to complete in September 2012 this scheme has set a new benchmark for Midtown prices while still offering value compared to other West End locations.

In Midtown’s northern fringe, British Land started construction early in 2011 on the last major phase of its Regent’s Place scheme. North East Quadrant (NEQ), Regent’s Place, NW1, on the corner of Hampstead Road and Drummond Street in the shadow of the Euston Tower, achieved permission in 2008 for three buildings: a 16-storey 500,000 sq ft gross office building with 38,650 sq ft gross retail and community use; a 26-storey private residential tower, designed by Munkenbeck & Marshall, with 101 apartments ranging in size from studios to three-bedrooms; and an eight storey block with 60 social-rented and 10 shared-equity flats. At an overseas launch in March 2011 the first release achieved prices of £1,200 to £1,300 per sq ft, well in excess of typical values for this part of NW1.

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Raise In Residential Property Prices

June 10 , 2011 | | In: New Development

The official property figures have shown a considerable raise in residential property prices. There is a rise of 0.8% in Wales and England. The average property rate is approximately around £163,083. Bear in mind, the figure is an approximate average. It takes into consideration the rate fluctuations all through the nation. For instance, the average property rate in London has increased by 5% yearly. On the contrary, the average property rate in north east has gone down by 8.1%. The deliberate, slow but positive recovery has fascinated more sellers. The market witnessed a high supply. According to the experts, the supply is more than the demand.

The house owners are in danger of nonpayment on their every month payment. There is a considerable raise in assistance for the first time purchasers. However, the first buyers are so short of money that they choose to lease properties until they scratch 10% of deposit. The marketplace has witnessed a raise in residential property prices. Remember, even having deposit amount does not necessarily guarantee that any person will lend the money for
purchasing the house. The principles and rules have been made stronger to protect the united kingdom from credit condense and second lodging bust. Undoubtedly, only serious clients with serious cash are in a sturdy position.

However, the biggest problem since the 2007 crisis is the credit availability. The values have improved lately on both the tracker deals and fixed rates, but the lending patterns are still the same. As stated by BBA (British Bankers Association), only around 3000 home advances were sanctioned in the month of April 2011. The raise in residential property prices had a significant impact on the credit availability. The overall rates were comparatively less than the
year of 2006. In 2006, more than 80,000 loan deals were approved. The deposit of £25,000 is too expensive for more than thousand would-be-dealers.

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Brand New Homes in Islington Area

May 17 , 2011 | | In: New Development

New fashionable and affordable housing schemes are mushrooming in the Islington area. This includes an array of flats in the square of Georgian Garden and Twenty first century version of great block of Victorian mansion.

The area behind the station of the Angel Tube is getting mostly benefited from this real estate boom. The Hidden canal basin is fast becoming a residential area with plenty of properties coming up.

Young professionals and budding entrepreneurs of the city are mostly choosing this area to stay in, as the rate of the property is a bit less here than the posh city areas and the other reason is they can walk to their offices or business places.

Highbury Gardens, is one of the most popular property in Islington this area, in recent times. It is built adjacent to the Highbury Corner’s black taxi showroom. This property was designed by the famous architects of the Prince Foundation. The developer, which is behind this property is, Porphyrios Associates. The developer has tried their level best to make this property eco-friendly with solar panels and remote heating monitoring system. The all 119 flat of this property looks like a secluded modern village. The price of the flats starts from 3, 20,000 pounds.

The newly created Highbury Park has community facilities and a nursery. The prices of the flats of this facility are more or less similar to that of the Highbury garden and start from 310,000 pounds.

Crompton House is one among the many properties that come up recently in this area you can find out www.londonpropertyadvisor.co.uk. The price of the flats in this property starts from 1.395 million pound and goes upto 1.795 million pounds.

A series of inter-connecting not-high-rise apartments have been developed near to the Arundel Bus Depot. The landscaping of these properties is quite fantastic. The Price of the flats starts from 285,000 pounds.

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Home Ware on Sale at Very.co.uk

January 20 , 2011 | | In: Commercial

Every year, having made it through the manic experience that is Christmas, we can all treat ourselves as part of the amazing January sales that crop up all over the place. Discount clothes, electricals and homewares are too good not to take advantage of, and this could not be more true at online department store www.very.co.uk. Very runs amazingly generous offers all year round, but with January coming up the big New Year’s sale is set to be absolutely huge. The New Year is a great time to reinvigorate your home, and with help from Very, buying new items for your house couldn’t be simpler or better value.

As an online department store, Very.co.uk stocks a huge range of items – there is literally a little bit of everything, and something for everyone! Buying for the home can often be a chore, trekking around home store after store searching for the perfect colour, texture and material. That’s not the case here. Very even sell furniture, including beds and sofas, all of which can be delivered, for free, directly to your door. You don’t have to worry about discrepancies between the site and what you receive, either, as every item on http://www.very.co.uk/ comes with a comprehensive and detailed description, as well as at least one (but often more) clear images and colour swatches.

That’s the big stuff, but Very also offers a range of decorative as well as functional home wares. Accessories such as curtains, bedding and rugs are all on offer, many of which come in matching sets. Aside from the great January offers, bedding from Very.co.uk is also currently on BOGOF – when you buy a set of bedding, you will receive an identical set absolutely free. Decorative items from Very range from throws and cushions through to mirrors, storage boxes and wall art, all to complement your home and make it feel as inviting as possible.
Very.co.uk has everything you need to make your house a home this January. All items come with free delivery, and free returns should you be dissatisfied with your purchase. If you spend over £50 across the store, you can even suspend payment for up to twelve months – have it now, pay later! Check out www.very.co.uk for more of their great offers this January.

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Homes under the hammer: sell house quickly

January 18 , 2011 | | In: Investments

If you are looking for a quick sale on your property, then taking your house to auction may be an option. Of course, it may be the case that you would not receive as much for your property than if you were to sell via an estate agency, however once a bid has been made the offer is secured and a sale is guaranteed. This is a good way to sell house fast, however a slight obstacle may be that local property auctions do not come around that often, so you may find yourself waiting about for the next auction to come up.

A similar option to sell property fast is to sell via a company that buys from home owners in circumstances which mean they need to make that all important quick sale. This has similar negatives to an auction house in that you may not receive as much for your home than you might should you go to an estate agent. However, there is the added benefit of a quick turnaround and again, once the company has put forward an offer for your property, then this is guaranteed and will not fall through.

During the 17th Century the local church communities have decided to provide shelter and food to the poor. They were asked to work in returns. These poor people were lodged in the purpose-built buildings. Some self-help institutions were established by the Workhouses in Clerkenwell during 19th Century. That was the very poor condition in which the people were forced to enter. Most of them were orphans, old, decrepit, women and mentally unstable.There were two workhouses in Clerkenwell: The Quaker Workhouse and The Parish Workhouse, clerkenwell lofts

The Quaker Workhouse

The Quaker workhouse was enlivened by John Bellers’ writing only. John Bellers has projected an industrial college for poor. It was a sovereign co-operative community where the fees won’t be charged. Rather every member used to contribute as much they could afford. According to Timothy Hitchcock most of the revolutionary researches in the cooperative society have been made in 18th Century.

Richard Hutton’s Complaints Book “The notebook of the Steward of the Quaker workhouse at Clerkenwell” is a valuable resource. It was written in 1711-37 and then Timothy Hitchcock emended it in 1987. The whole content of this book has offered the outline of British history. This book is even a great source to develop the deep insight about the history of Clerkenwell.

Parish Workhouse of Clerkenwell

The Parish workhouse of Clerkenwell is well known with the name of St. John and St. Mary. It was constructed in 1772. More than 89 people were lining in this workhouse. Most of these people were employed in the Spinning yarn and ockam picking farms. It is said that these workhouses were large and roomy brick houses. While some says that they were the dark and tall brick buildings.

The Local History collection in Islington London Borough can provide the more information about the Workhouses of Clerkenwell.more information findout from www.hurford-salvi-carr.co.uk