all removals london news digest - january 2015

Will 2015 be better than 2014 for real estate?

As we look towards the New Year the worldwide real estate market has performed fairlywell over the last 12 months against a difficult economic backdrop. There have been manyhighlights including the London market and Dubai, to name but two, but what does 2015hold for the worldwide real estate market?

There are many issues to take into consideration when looking towards 2015 and yourinvestment objectives. Those who look back at 2014 as a guide for performance over thenext 12 months need to think again as it is likely 2015 will be very different indeed.

Worldwide interest rates

Even though the worldwide recession began back in 2008 we are still feeling theconsequences with interest rates still at record lows. These minimal interest rates haveobviously assisted investment markets making finance available at affordable rates – butthis cannot continue forever. We have seen a number of central banks around the worldsuggesting that interest rates will rise in the short to medium term and this will eventuallycurtail over exuberance in the worldwide real estate market.

Written by Mark Benson for Property Forum

Published on All Removals London website on 01 January 2015

London residential property investors looking north for

better rental yields

Almost two thirds of buyers of investment property in the North of England are from theSouth East, with over a third from the Greater London area, new research has found.The study from buy to let specialist Sequre Property Investment, suggests that prices aretoo high in the south for landlords who may be looking north for bargains.

According to the firm they are being enticed out of their own back yard to cities such asManchester, Liverpool, Preston and Salford by stronger returns and lower entry levelprices.

Average gross yields of 8% in Manchester compare to 4.5% in London, while a typical twobed investment property costs in the region of £90,000 versus £300,000 in the capital.

Written by Property Wire for Property Wire


Ski property market likely to be boosted by low interest

rates

With snow finally arriving across the French Alps a flurry of interest is expected in skiproperty, especially since interest rates offered by lenders in France are so low.

Rates below 3% were available in 2014 and the beginning of 2015 may herald even lowerrates in France as the long term outlook for growth in Europe remains weak, according toJohn Busby, private clients director of French Private Finance.

He pointed out that the TEC 10 index dropped below 1% for the first time in December,hitting 0.86%. ‘It is worth stressing again that this is now the rate investors will receivewhen lending to the French Government for a 10 year period. Hopefully this drop willcontinue to make it through to retail mortgage rates and so buyers will continue tobenefit, said Busby.

He also pointed out that it seems that the controversial social charges of 15.5% whichwere added to French capital gains and rental income tax are in fact illegal underEuropean law and many people who sold a property during 2014 are now making cases toreclaim the tax which they have overpaid.



House prices in Nottingham up by ten per cent in a year -

biggest rise in a decade

House prices in Nottingham have increased by more than 10 per cent over the last year –the biggest annual rise in a decade.

And estate agents say they expect the cost of property to keep on rising this year.

The latest figures from the Land Registry’s House Price Index show the average cost of ahome in Nottingham in November was £91,446, up from £83,602 in November 2013.

Meanwhile in the wider county, prices of properties were up 4.7 per cent to £126,255.Agents say that higher demand for properties is pushing the prices up.

Paul Sweeney, director at estate agent Robert Ellis, said the market was now movingquickly.

He said: “Last year started quite quickly and I think the same will be true of 2015. Wehave already had two houses go through between Christmas and New Year.

Written by Nottingham Post for Nottingham Post


UK consumer lending soars as mortgage approvals edge

down

Lending to British consumers surged at its fastest rate in nearly a decade in the threemonths to November, and business lending showed some signs of picking up despite acontinued slowdown in the housing market.

The Bank of England said on Friday that consumer lending beat economists' expectationsto rise at an annualised rate of 8.3 percent in the three months to November, a pace lastseen in October 2005.

Mortgage approvals for house purchase dropped less than expected to 59,029 inNovember, from 59,511 in October, the lowest level since June 2013 when Britain'shousing market was starting to pick up.

Analysts had forecast a fall to 58,500, and last month the British Bankers' Associationreported the lowest number of approvals by its members since April 2013.

Written by Andy Bruce and David Milliken for Reuters


Why are banks suddenly rejecting wealthy borrowers?

This well-off couple, with their £189,000 mortgage on a £840,000 home, are just thelatest to be turned down by a lender when they ask to port their mortgage

Simon and Susan Pinnington have been HSBC customers for more than 20 years. Whenthey decided to sell their £840,000 home and move to a new property, they asked totransfer, or “port”, their small £189,000 mortgage.

This should have been a smooth process.

They were buying a five-bedroom detached house in Maidenhead for £900,000, but didnot want to borrow any extra money as they could pay the additional £60,000 from theirsavings.

Neither did they want to extend the term of the loan, which had less than nine yearsremaining.

The couple, who own their own optician franchise, went through a detailed financial reviewwith one of HSBC’s own mortgage advisers. She determined that the transfer wasaffordable and submitted the application to the underwriting team for approval.

Written by Nicole Blackmore for The Telegraph


How to Clean Hardwood Floors: Must-Know Tricks

Hardwood Floors: Preventive Maintenance

Keep hardwood floors looking good with smart cleaning methods that will make caring foryour floors and maintaining their good looks even easier.

Cut hardwood-floor cleaning time with smart preventive maintenance. Position mats bothoutside and inside exterior doors to lessen tracked-in dirt. In snowy or rainy weather,include a boot removal area to avoid damage from water and de-icers.

Prevent marks by using floor protectors under furniture and by using rugs in play areas toensure children's toys don't scratch the floor.

Hardwood Floors: Basic Care

Speed up the cleaning process by first dusting the floor with a mop that has been treatedwith a dusting agent to pick up dust, dirt, and pet hair that might scratch the floorsurface. For weekly or biweekly cleaning, vacuum with a floor-brush attachment on avacuum cleaner or an electric broom.

Written by BHG for Better Homes and Gardens


British, top property buyers in Spain

Despite the economic crisis, foreign buyers have returned in force to the country’sproperty market. Britons dominate foreign purchase of Spanish property, according toofficial statistics, representing the 18.06 per cent of property selling to non-nationals. Butwith low prices in many areas, more nations are getting in on the act, with the French(10.48 per cent), and Northern Europeans: Russians (7.50 per cent), German (6.45 percent), Belgian (6.19 per cent) and Swedish (6.08 per cent).

The number of assets acquired by non-European has also been on the rise in recent years,with Chinese (3.95 per cent), Moroccan (2.34 per cent) and Algerian buyers (1.96 percent) increasing the most. Property asking prices have generally risen by 7 per centacross the country, according to real estate experts. Second-home demand is now closeto record highs, and almost 40 per cent above the boom-time high. The only time thisdemand was higher was in the fourth quarter of 2012, when tax changes artificiallyboosted sales by bringing them forward from first quarter of 2013.

Written by Money Market UK for Money Market UK


Millions fear missing Januarys rent or mortgage payments,

says Shelter

Interest rate rise would put many more in trouble, with almost 60% saying they arealready struggling to meet housing costs.

More than 3m households in Britain fear missing their rent or mortgage payments thismonth, Shelter has said, adding that an interest rate rise would put many more in trouble.

Research from the housing and homelessness charity shows that almost 60% of peoplesay they are struggling to meet their housing costs. One in nine fear they will be unable tomeet January’s payments, as families struggle to balance their budgets after Christmas.

Shelter says “sky high housing costs” mean more people risk being swamped by theirmortgage or rent demands.

“Many people have spent a long time thinking they have nowhere to turn and are oftenclose to breaking point by the time they come to us. If you’re in this situation, it’s soimportant to remember you’re not alone and that help is available,” said Shelter’s helplineadviser, Nadeem Khan.

Written by Graeme Wearden for The Guardian


Significant increase in new lending for UK commercial

property markets

There was a significant rise in new lending to the UK commercial sector in the first half of2014 but the recovery has been uneven across the country.Overall outstanding debt held against UK commercial property fell to £171 billion in the sixmonths from £180.3 billion at the end of 2013 as lenders continued to reduce their loanbooks following the 2009 financial crisis, according to a report from academics at DeMontfort University.The report, the most comprehensive analysis of the UK’s commercial property lendingmarket, also found a significant drop in the volume of old loans that were distressed or inbreach of financial covenants.

However, it noted that organisations much more willing to lend against assets in Londonthan elsewhere, and also more inclined to lend against investment properties rather thannew development.

New lending accelerated during the period with £19.6 billion of new lending, the highesttotal recorded by the study since 2008, compared with £13.4 billion in the first half of2013 and £29.9 billion for the whole of 2013.



How to Clean Carpet

Carpet has many merits and advantages as a flooring material, but spills can leave stainsand daily traffic takes its toll. Learn how to clean carpet with methods for vacuuming,deep cleaning, and stain removal to help your carpets look better and last longer.

Carpets warm a home by adding color, pattern, and texture. Regular vacuuming providesthe first line of defense against dirt and grit that damages carpet fibers. But carpets alsoneed regular cleaning to keep them looking their best. Plan to thoroughly clean yourcarpets every 12 to 18 months, more often in high-traffic areas. If you have light-colorcarpet and/or kids or pets, clean your carpets two or three times a year. Always follow thecarpet manufacturer's cleaning guidelines.

Testing for Colorfastness

Colorfast carpet will not bleed, fade, or change when you are cleaning it or removingstains. Whether or not it is colorfast may change the cleaning method or products youchoose. Here's how to pretest your carpet to find out if it is colorfast.

Written by BHG for Better Homes and Gardens


Moving to Italy

When you dream about your impending move to Italy, the first things to come to mindmay be great weather, excellent wine, and delicious cuisine. The InterNations guide,however, provides you with all the essential info about moving to Italy, such as visas andexpat destinations.

If you have always wanted to live la dolce vita, it is time you pack your bags and startplanning your relocation to Italy. The boot-shaped country is full of spirited people, sun,good wine, and, of course, pasta! But that is not all you will encounter when you move toItaly. Due to the country’s 7,600 kilometers of coastline, it is no wonder that a lot ofexpats and emigrants choose Italy as their destination.

With its more than sixty million inhabitants, Italy is the 5th most populous country inEurope. The preferred places among expats include the largest Italian islands, Sardiniaand Sicily. The local weather is mostly sunny and warm, making them the number onechoice for elderly citizens who would like to spend their retirement years in Italy.

Written by InterNations for InterNations


Has the sun set on the expat dream in Spain?

Ninety thousand Britons have waved adios to a life under the Spanish sky. Why has thesangria turned sour for so many families?

Paella on the playa; sangria under the stars; afternoon siestas after riotous fiestas. AsBritain wakes up to yet another dreary spring day, moving to the Med has never seemedmore appealing. It’s no wonder, then, that tens of thousands of us have done just that:since 1995, more than 760,000 emigrants have swapped bleak Blighty for a life in sunnySpain.

According to the latest statistics, however, the Spanish sueño isn’t all it once seemed – asexpats return to Britain in their droves. Nearly 90,000 abandoned their Mediterraneandream last year, with town hall registers across Spain recording a 23 per cent drop inexpats since January 2013. And it’s not only Brits who are heading home: the Germanand French populations also fell, with Chinese the only nationality increasing theirpresence in the country.

Local estimates put the figures even higher, with reports in English language newspaperThe Olive Press suggesting that some 20,000 Brits want to leave the Costa del Sol alone.

Written by Sarah Rainey for The Telegraph


NAEA issues advice for selling a property in the cold, dark

winter months

Selling a home in the UK in winter can be difficult but ensuring the garden looks it besteven in these darker months can help, according to estate agents.

For the best chance to sell your home it is important to make sure the property stands outand taking steps to make sure it looks welcoming, says the guide from the NationalAssociation of Estate Agents (NAEA).

Winter can be cold, dark and wet, which often means properties are unable to promotesome of their best features. By incorporating a few simple tips, sellers can enhance theirproperty's look and feel and increase their chance of attracting an offer, said NAEApresident Simon Gerrard.

Quite often, it is the smallest changes to a property that can make it stand out overothers. A warm, inviting atmosphere in the dreary winter months is key. Simple thingssuch as making sure a home is warm and well lit can improve saleability during the darkermonths and additions such as welcoming garden lights to enhance the entrance to yourhome can appeal to buyers’ imaginations, he explained.



Valencia and Madrid tipped as potential property hotspots

for 2015

Valencia and Madrid have been named as potential property investment hotspots for 2015as the country’s property market continues its recovery.

Madrid is currently undergoing a revival following a rocky ride during the last seven yearsand Valencia’s position as a key tourist destination mark them out, according toindependent real estate agency Lucas Fox International.

The firm points out that in Madrid official figures show that sales were up 17% in 2014over 2013 and the city and surrounding region have seen their first property price risessince 2007.

It adds that as well as being popular with overseas visitors Valencia is a business andinvestment hub has been aided by a government cash injection of nearly €4 million andbeen boosted by the success of hosting the America's cup in 2007 and the transformationof the City of Arts & Sciences.



10 Tips to Make You the MacGyver of Moving

Moving is an experience that can leave even the most organized person stressed,frustrated and worn out. Whether you’re moving down the street, across town, or toanother state, getting your personal “stuff” from one place to another doesn’t need to bewhat may seem like a losing battle.

With these 10 tips, you can make your moving experience a smooth operation from startto finish. For even more moving advice and tips, visit our expert moving guides to get youorganized for a successful, stress-free move.

1. Recognize, Reorganize and Recycle – Turn down the stress volume by realizing you cancut down on moving time and expense by breaking down each room into four categories –Keep – Throw Away – Donate – Store.

2. Self Control – Don’t move items you no longer need. Send them packing to the recyclebin or donate them to charity. This includes everything from clothing to dishes. If youdon’t use it, you don’t need it, and you don’t need to move it.

Written by David Decker for Extra Space Storage


Moving to the UK

Expats moving to the UK do so for various reasons. Whatever your motivations may be,your move to the UK has the advantage that you won’t need to learn a new language fromscratch. InterNations has lots of useful information on moving to the UK, from life inLondon to UK visa regulations.

Moving to the UK is an attractive option for various reasons. As a business destination, theUnited Kingdom of England, Scotland, Wales and Northern Ireland has one major assetcompared with moving to other European countries, despite similar living standards andworking conditions: the language. English being the international language of businessand trade, it is taught to most school children across the globe.

The UK is a densely populated country, with a considerable share of its 63.2 million peopleliving in the south of the UK. About 90% of the UK’s population consists of city dwellers.Great parts of Scotland and Northern Ireland are less urbanized and less affluent, withpeople moving away to the UK’s southern areas.



Make moving less stressful with part exchange

Moving house is well known to be one of the most stressful life events. According to arecent survey by eMoov.co.uk , one in five people said that selling a property is the moststressful thing a person can do, beyond getting married, giving birth or taking animportant exam. To ease the pressures of moving house, Countryside’s Part ExchangeScheme is now available at The Lanes at Wickhurst Green near Horsham, offering a hasslefree way to move into a stunning new home.

Selling a house is more stressful than buying one, with a separate poll byEstatesDirect.com finding people were more than twice as likely to feel anxious of theadded pressure when trying to sell a property. With part exchange there is a guaranteedbuyer, so there is none of the hassle of putting the house on the market. Countryside willoffer the mover a fair market price for their existing home, they have no estate agent feesto pay and they can stay in their home until its time to move into their brand new home.

Andrew Loveday, Sales Director at Countryside comments: “Buying and selling property isalways a complicated juggling act especially if there is a chain involved and there isalways the worry something will fall through.

Written by Easier for Easier


The cheats guide to keeping your house clean

No time for the housework? Follow our handy guide to super-quick spring cleaning andyour home will look spotless in minutes.

We’ve all been on the end of surprise visitors and if they arrive unexpectedly it cansometimes result in a quick dash around the house to hide dirty crockery in thedishwasher before running upstairs to squirt bathroom cleaner around the sink and wipeaway any toothpaste residue before your guests notice.

If you made a New Year’s resolution to keep your house looking tip-top for the yearahead, but you can already see the ironing basket overflowing - don’t fret - there areplenty of ways you can cheat an immaculate home.

Cleaning guru Aggie MacKenzie recently revealed that she pops her cushions andpillowcases in the tumble dryer for 10 minutes with a scented sheet of fabric softenerwhen she hasn’t got time to wash them.

Written by BT for Rachel Gilbert


Is it really fair that young people can not buy a flat because

their parents bought too many?

Young people still want to buy a house, even though they’re doing it in much smallernumbers than their parents.

Young people want to buy homes to live in, and it’s not fair that they can’t.

In a large-scale youth survey taken last November, 73% of Australians aged between 15and 19 said they aspired to own their own home. A month later, the Grattan Institutereleased a report telling them they’d be the first generation to be worse off than theirparents.

We already know that people in their 20s and 30s have entered the housing market laterthan their parents and in much smaller numbers. If trends continue, the situation will beworse for the 15 to 19-year-olds. Forget Gen X and Gen Y: the new moniker for workersin their 20s and 30s is “generation rent”. But it’s not a moniker they asked for. They stillwant to own a home to live in, and want to know why they can’t afford it.

Written by Gabrielle Jackson for The Guardian


New Year, new home, new way

The New Year brings new hope for homeowners looking to make a fresh start and climbthe property ladder, as resolutions and post-Christmas blues spur buyers to begin theirproperty search early. Marketing property promptly in the New Year means owners canbenefit from the ‘spring bounce’ when sales traditionally increase between March and May.

This will be especially true in early 2015, according to recent figures from the Office forNational Statisticsi (ONS), which demonstrate the strength of the market. ExcludingLondon and the South East, UK house prices increased by 9.1 per cent in the 12 monthsto September 2014.

Graeme Naish, co-founder of Open Door Auctions, a family-run property businessspecialising in residential sales, comments: “Winter is typically seen as a bad time of yearfor the property market because of a number of factors - the weather’s bad, money istight and people are preoccupied with Christmas preparations. Once Christmas is over andthe January blues set in, people start thinking about the year ahead, making decisionsand taking positive steps forward.”

Written by Easier for Easier


Londons emerging homes hotspots to watch in 2015

Transport upgrades, regeneration and new homes developments bring fresh vitality toLondon areas that may still be under the radar - making them good places to buy in theearly stages of the upward curve. We reveal four London hotspots to watch in 2015.

The property spotlight is constantly changing its focus, with new areas highlighted thanksto upgraded transport links, regeneration or the arrival of new businesses or a creativecommunity.

Even the prospect of a new bridge over the Thames can raise a district’s desirability. Inrecent times, a single piece of outstanding architecture, or a particularly good new homesproject, has been enough to raise the bar — bringing fresh vitality to an area and makingit a good place to buy in the early stages of its upward curve.

Written by David Spittles for Homes and Property


The mortgage that allows students to buy their own homes

Some building societies are willing to lend undergraduates 100% of the cost, up to£300,000, to buy a home – with certain guarantees.

He’s in his third year at university, studying hard ahead of his final exams this year – but,unlike other students, Jonathan Pearson will graduate with a profit, not a student debt. Heis not from a wealthy background but stands to make at least £30,000 after buying ahome, rather than renting while at college.

Most other homebuyers struggle for years to find the necessary deposit, with Halifaxreporting this week that the average age of a first-timer has now topped 30. But Pearsondid not even have to put down a deposit, managing to obtain a 100% loan from areputable building society.

At the age of 20 he was granted a £183,000 mortgage by Bath building society to buy athree-bed home in Chelmsford, Essex, where he has been studying architecture andtechnology at Anglia Ruskin University. He turned the lounge into a bedroom for his ownuse, and rented the three bedrooms to other students at his college.

Written by Patrick Collinson for The Guardian


Is it time to take a contrarian approach to real estate

investment?

At this moment in time all of the focus in the worldwide real estate market seems to be onthe hotspots such as London, Australia, New York and other traditionally strong propertymarkets. While the US economy is starting to make progress, the UK has performedadmirably and the Australian government continue to manage the Australian economywith expertise, is it time to look at a contrarian approach to real estate investment?

This is a subject we have mentioned in the past, the idea of going against the generalconsensus at the moment to find better value elsewhere.

Worldwide economy

While the worldwide economy is holding up so far there are grave concerns regarding theimpact of the oil price which has fallen from $110 a barrel to just $50. There were alreadyconcerns about the short to medium term direction of the worldwide economy prior to thiscollapse in the oil price. As a consequence, we should not be surprised to see a slowdownin the worldwide economy although there will be hotspots around the world.

Written by Mark Benson for Property Forum


UK politians favour council tax change rather than new

mansion tax

The majority of MPs in the UK believe additional higher rate council tax bands would be abetter way to reform annual property taxes on high value homes than introducing amansion tax.

A survey found 69% back the council tax change while 75% agree with the need for arevaluation of council tax in general.

The poll commissioned by the British Property Federation (BPF) also looked specifically atwhat Labour MPs think as it is the Labour Party that wants to introduce a mansion tax if itcomes to power at the general election in May.

It found that 39% of Labour Party’s MPs favour additional higher rate council tax bandsover a mansion tax, despite the party championing the tax as one of its flagship policiesahead of the election. Just over half, 56%, thought a mansion tax would be preferable.

The majority of the Liberal Democrat MPs surveyed, 89%, also prefer additional counciltax bands to a mansion tax, as do 92% Conservative MPs. The Liberal Democrats firstmooted the idea of a mansion tax in 2012.



UK home owners would rather improve than move, new

research suggests

Most home owners in the UK would rather spend money improving their current propertythan moving, new research suggests.

An overwhelming majority (94%) of UK homeowners would rather spend moneyimproving their current home than sell up and move on, research reveals today.

Despite the recent reduction in stamp duty and 0.7% rise in house prices, 49% of thenation’s respondents plan to stay put and renovate in 2015, and are happy to spend over£5,500 doing so.

Indeed 94% would rather spend money and 43% say one of their main reasons forrenovation is to make their home look nicer, whereas only 6% cite it for the purpose ofselling in 2015.

The survey, commissioned by Wooden Blinds Direct, questioned home owners from acrossthe UK on their home improvement spending in 2014 and projected spend in 2015.



The four new property hotspots in London homebuyers

should watch in 2015

Transport upgrades, regeneration and new homes developments bring fresh vitality toLondon areas that may still be under the radar - making them good places to buy in theearly stages of the upward curve. We reveal four London hotspots to watch in 2015.

The property spotlight is constantly changing its focus, with new areas highlighted thanksto upgraded transport links, regeneration or the arrival of new businesses or a creativecommunity.

Even the prospect of a new bridge over the Thames can raise a district’s desirability. Inrecent times, a single piece of outstanding architecture, or a particularly good new homesproject, has been enough to raise the bar — bringing fresh vitality to an area and makingit a good place to buy in the early stages of its upward curve.

THE FOUR SUBURBS TO WATCH IN 2015:

1. IN WEST LONDONNotting Dale is the splendidly original name for the north-western corner of the W11postcode.

Written by David Spittles for Homes and Property


Scots house prices rise but lag behind rest of UK

House prices in Scotland rose by more than 4 per cent last year, with the average homenow worth more than at the height of the property boom in 2008.

However, the latest official figures show growth north of the Border lagged behind the restof the country, which saw a UK-wide increase of 10 per cent.

The latest House Price Index from the Office for National Statistics shows the average costof a home was £194,000 in November 2014, up £26,000 from the pre-downturn peak of£168,000 in June 2008.

This followed a continuing drop from the all-time high of £200,000 last summer and aslump in year-on-year rises recorded in previous months.

An increased mood of caution among househunters and speculation over how long interestrates can stay at current record low levels have been suggested as possible causes of ageneral cooling of the housing market as 2014 came to an end.

Written by The Scotsman for The Scotsman


Safe as houses? Where do you hide your spare keys?

Thousands of families are burgled because of poorly-hidden house keys each year. Wereveal the worst places to choose

Poorly-hidden house keys are to blame for thousands of burglaries every year, newresearch reveals.

Spare sets were either stolen at an earlier date or found in a hiding place near thepremises, such as under a plant pot or doormat.

Official crime statistics show that more than 6,000 burglaries in 2014 involved intrudersusing keys to access the property, as opposed to breaking and entering.

And while police figures show a general decline in burglaries, the number where a key wasused actually increased last year.

New research reveals the top hiding places favoured by home owners - and the spotsburglars are most likely to head to first. Are you guilty of using any of these?

Written by Agencies for The Telegraph


Is it worth buying a house that has evidence of subsidence?

Q I am interested in a property which has been underpinned at the bottom of thedriveway, due to the drains collapsing. The estate agents say they have all of thedocumentation associated with the underpinning work, which I can look at. The side wallof the house has been pointed where the wall must have slipped just above theunderpinned area. The patio has a manhole in it and the slabs look a bit wonky.

I would love the property but I have never bought one that has been underpinned andwould appreciate your advice. I am aware insurance companies charge an excess toinsure underpinned properties so have already looked into this. My main concern is, howstable is the property after underpinning, and if there is a guarantee, is it as good as if ithadn’t been underpinned? Would you buy one if you liked it? TB

A I wouldn’t rule it out entirely but I wouldn’t buy any underpinned property without firsthaving a full structural survey done, looking in detail at buildings insurance for theproperty and possibly negotiating a lower price for it.

Written by Virginia Wallis for The Guardian


Britains new property hotspot dislodges London

Birmingham will overtake London this year as the UK's most attractive city for propertyinvestment this year as Asian and American funds buy up more of Britain's buildings.

A shortage of available assets and high price tags on office buildings, residential blocksand retail outlets in cities such as London will drive investors to look at Birmingham,respondents in the report said.

The West Midlands city, which is undergoing massive city centre regeneration and willhouse the new HS2 headquarters, jumped 14 places in the index while the UK capitalslipped from 5th to 10th.

But it was Berlin that topped the index with analysts predicting that the German capital,which is cheaper than Munich, will be the most popular city in which to buy property in2015. It was followed by Dublin and Madrid.

The Spanish city climbed 16 places into third as investors start to take more risks, thereport from PwC and the Urban Land Institute revealed.

Written by Anna White for The Telegraph


Moving to France

For many expats, moving to France conjures up images of excellent cuisine and wine. Butof course, that’s only half the truth! The InterNations expat guide on moving to Franceprovides you with useful info beyond this stereotype: on the French language, popularexpat destinations, and more.

Moving to France might require some planning and organization, but the effort will payoff. The country benefits from its central position in continental Europe, as well as itsexcellent transportation links to all neighboring countries and between French cities. Allthis makes relocating to France and its various regions very convenient.

While most expats moving to France do so for business reasons, the country is also apopular destination for pensioners. They settle in France because of its high quality of life,its social welfare policies, and its good healthcare system. For the same reason, manyother European nationals keen on working abroad move to France in order to try their luck– despite relatively high unemployment rates of around 10%.



British buyers returning to the French property market

British buyers returned to the French property market in 2014, buying homes for holidaysand investment, according to a leading overseas estate agency.

Last year Leggett Immobilier says it saw a 43% increase in French properties sold withbuyers from 33 different nations. It believes that this diversity demonstrates the globalappeal of the property market in France.

British buyers top the sales table for 2014 followed by buyers from Belgium, the UnitedStates, Australia, and then the Netherlands.

‘British buyers came back to the French market with a bang and our sales pipeline showsthat 2015 will see more of the same. We have seen a 43% increase in transactionnumbers over the last 12 months, fuelled mainly by confidence levels in the UK andcontinued low interest rates,’ said Trevor Leggett, chairman of Leggett Immobilier.

The firm has seen a lot of activity in the Alps and Cote d'Azur and pointed out that buyerstend to want properties that are finished to a reasonably high standard and that are ingood locations.



More home owners moving house

The number of home owners moving house reached a 7-year high in 2014 as risingproperty values boosted the amount of cash they had sitting in their existing homes, areport has found.

An estimated 365,400 people moved home last year with a mortgage across the UK,marking an 8% year-on-year increase and the highest figure seen since 2007, LloydsBank found.

The report said that surging house prices last year boosted the equity position of manyhome owners, helping them to make the jump up the property ladder.

In particular, people who were living in the first home they had ever bought and weretrying to take their second step on the property ladder saw their equity position boostedby an influx of first-time buyers into the market in 2014.

Schemes such as Help to Buy helped to widen the availability of low deposit mortgages forpeople trying to take their first step on the property ladder, helping to unleash a flood ofdemand from first-time buyers into the market last year.

Written by Press Association for Yahoo News


Swinney forced into rethink on new property tax

John Swinney will this week lower new tax rates on property purchases in a move thatshould spare middle-class house-buyers from being hit as hard as expected by a new levyon mid-market and up-market homes.

The Finance Secretary will bow to political pressure when he revises the bands and ratesof the Scottish Government’s new stamp duty replacement that comes into force in April.

In an embarrassing climb-down in response to a stamp duty cut announced in GeorgeOsborne’s Autumn Statement, Swinney will review his plans to impose a 10 per cent taxrate on transactions involving properties worth more than £250,000.

The proposal, which was part of his new Land and Buildings Transaction Tax (LBTT), hadbeen labelled a “tax on aspiration” by the Conservatives, who claimed it would hithard-working families wanting to buy relatively modestly priced homes.

Yesterday Swinney signalled his intention to revise his original plans. His new plans will beannounced to the Scottish Parliament on Wednesday when he sets out Stage I of hisbudget.

Written by Tom Peterkin for The Scotsman


Top tips for living overseas for the first time

If you are relocating overseas for a year or more, there are plenty of things to consider.Try these helpful tips about moving to and working in a new country, to help you settle inand enjoy the experience of a lifetime.

Living abroad is an adventure that you want to get right in the first go. You have alwayslooked at travelling with a traveler’s eyes, but now your perspective must change so thatyou can make the best out of your expat experience.

1) Planning is key - Prep-work is vital in the kitchen, but it’s as valuable when you’retravelling. Making a new life from scratch is a bit harder than baking a pie, so what you dobefore you’re settling in is as important as the fresh experience you’re going to have.

2) Go on a little holiday first - Don’t buy it till you try it! If you have job prospects in acertain country and you’re thinking of moving, get some time off and spend a few days inthe heart of the city you’re thinking of making a home.

Written by Amber Kingsley for Australian Times UK


Barclays launches smartphone document scanning app for

mortgage brokers

Scan and Attach service allows images of house-buyers’ documents to be uploadeddirectly to online repository where they are available for view by brokers.

Barclays is helping its mortgage brokers save time uploading submission documents whenon the move, with a new system that allows customers details to be scanned usingsmartphone and tablet cameras.

In what the company describes as a first for a UK bank, the Scan and Attach servicemeans that images of house-buyers’ documents can uploaded directly to an onlinerepository where they are available for view by staff.

With brokers often meeting clients at their homes, this makes it easier to conduct theirbusiness and process mortgage applications more quickly.

It will also remove any uncertainty over whether documents have been received, withhistoric information on hand to staff. Meanwhile, a headersheet previously used bybrokers to confirm that documents are originals has been replaced by a tick box, furtherspeeding the application process.

Written by Matthew Finnegan for Tech World


Pension ripples reach mortgage market

Quite apart from the tsunami that hit the annuities market, the financial sector has beenshaken up by several other budget-driven changes.

Amongst these is one which really divides opinion: the inter-relationship betweenpensions and mortgages.The new freedoms regarding pension drawdown really have opened-up a wide range ofoptions for homeowners.

From April next year, retirees will no longer be forced to use their pension fund to buy anannuity and will be allowed to access all of their savings.

Estimates suggest that one in 10 people aged 40-70 plan to use their tax-free lump sumto repay the outstanding balance on their mortgage while a further five per cent plan touse their pension pot to pay off mortgage debt.

If those findings are mapped across the population of England, that means almost600,000 people will use some or all of their pension to repay their mortgage.

Written by Mortgage Introducer for Mortgage Introducer


UK home ownership falls sharply among under 35s

The way in which Britain's housing market has become so heavily skewed towards olderbuyers has been laid bare in a report by the Office for National Statistics.

First time buyers have hardly ever had it easy. But figures from the ONS reinforce thesense that home ownership has become ever more difficult for younger generations in thelast forty years, with the percentage of 25-34 year-olds who have bought their ownproperty having fallen from 67 per cent in 1991 to just 43 per cent in 2011-12 (chartone).

Only one in ten 16-24 year-olds owned properties in 2011-12, compared to about a thirdin 1991.

Meanwhile home ownership among older age groups has risen dramatically since 1981. Atthe start of the eighties, just 50 per cent of 65-74 year-olds owned their houses but thathad risen to some 78 per cent by 2011-12.

Written by Financial Times for Financial Times


£100,000 windfall for downsizers

Home owners can typically expect to create a windfall of more than £100,000 bydownsizing to a smaller property such as a semi-detached home or a bungalow, researchhas found.

Those trading down from a detached home, perhaps because their children have flown thenest and they are looking towards their retirement, can free up £103,715 on average bymoving to a bungalow or £121,686 by moving to a semi-detached home, according toanalysis by Lloyds Bank.

As the housing market recovery continues, Lloyds found that downsizing is the key driverof property moves for existing home owners, with more than half (52%) of home ownerswho are planning to sell their home in the next three years saying they would like to moveto a smaller house.

Of those who expect to have some spare cash left over when they downsize, 43% plan toreinvest the money in a new property, 26% plan to put the money into other financialproducts and 13% said they will invest in their pension. A further 13% said they woulduse the money to give financial help to family members.

Written by Farming Life for Farming Life


Relocality Takes Its Innovative Neighborhood-Matching

Service to Europe

Relocality brings its algorithm-based neighborhood matchmaking system to Amsterdam,with plans for further European expansion.

Relocality, the industry’s first online matchmaker for finding a home, today announcedthat it is bringing its unique service to Europe. With funding received from Dutch investorsin late 2014, Relocality will launch its site in the Netherlands in March of this year, with aneye toward future European expansion in 2015. Serving global clients, Relocality Europewill be led by managing director, Boris Geheniau.

Relocality launched in 2013 with a novel approach to helping house hunters decide whereto live. The service pairs house hunters with potential neighborhoods based on theirFacebook data, with the goal of ensuring the user’s choice will best match theirpersonality, interests and lifestyle. Its unique and disruptive product is highly social,user-centric and can be a trusted resource for information, connection, and collaborationthroughout the consumer real estate search lifecycle. Studies have shown that servicessuch as Relocality, which utilize Facebook data to determine personality-based traits andmatches, are highly accurate.

Written by PR Rocket for PR Rocket


Lights go out as foreign owners desert London homes

Absentee owners and the buy to leave market are hurting businesses as housing rises upthe political agenda in the capital

Racine had everything a west London restaurant could ask for: beaming reviews, greatcooking and an enviable location opposite the V&A on the Brompton Road. For 12 years itserved immaculate French standards to discerning diners and from the outside it lookedlike an institution to last a century.

But two weeks ago owner Henry Harris announced that Racine had moutarded its lastlapin and would close. Qu’est-ce qui s’est passé?

“It was inevitable. The site had become unsustainable,” says Harris. “A rent renewal wasthe catalyst, but the main cause was the shrinking residential population in what shouldbe a saturated area. My original clients, who were 50 or 60 when we opened, were thatbit older. Some of them couldn’t afford to eat out as often after the recession, but otherssaw what their houses were worth and decided to realise that asset.

Written by Ed Cumming for The Observer


Spanish Property 2015 - The Only Way is Marbs

Spain had a spectacular 2014 across the board with economic progress way beyondexpectation, slowly improving employment figures, record-breaking tourism and aproperty market very much on the rebound.

Roberto Campolucci Bordi of Spain-based property and investment brokers Asset Foliopredicts another outstanding year in 2015, with Marbella leading the charge:

"2015 looks to be a year of great opportunity. The instability of other markets is provingadvantageous for Marbella's property sector as more and more investors look to movetheir money into areas where there is low volatility and high scope for growth. If you lookat today's market it's not too dissimilar to where it was in early 2000. People tend toforget that real estate markets move in cycles and once it starts, it gathers momentumvery quickly," he said.

Spain's property market looks to be turning a corner as we go forward into the year, withno let-up in investor appetite on the horizon

Written by Roxanne James for Property Showrooms


UK home sales steady, seasonally adjusted figures show

Sales of residential property in the UK remained steady at the end of 2014, withseasonally adjusted transaction levels in December around the same level as November.

The HMRC statistics also show that sales in December 2014 were 0.4% lower comparedwith the same month in 2013 and on a non-seasonally adjusted basis, residential propertytransactions increased 2.3% year on year.

Peter Rollings, chief executive officer of Marsh & Parsons, pointed out that while otherhousing market indicators started to flounder towards the end of 2014, sales held steady.

‘The additional pressure of loan to income caps and stricter affordability regulations hasslowed mortgage lending somewhat, but consumer confidence hasn’t slipped and theStamp Duty overhaul is injecting a new lease of life into demand in the New Year,’ heexplained.



Average prime property prices in London up £260 a day in

2014

Average prime London property values rose by £260 a day over last year, and Balhamsaw the biggest leap as prices jump by 21% over the 12 months period, new data shows.

Overall the majority of property market gains in London were made in first half of 2014,and prices dropped 1.6% during the final three months of the year, the first quarterly fallsince the second quarter of 2011.

The data from the latest London Property Monitor report from Marsh & Parson, also showsthat supply of Prime London property for sale increased by 26% in last three months of2014 and the New Year has seen an uplift in demand, with 13 buyers to every availableproperty in January.

The average Prime London home has risen in value by £95,000 in the past year but inBalham they have jumped £152,000 over the same period.With property prices in outer prime areas of the capital typically 25% lower than the widerprime London average, stronger demand for more affordable homes has pushed the rateof house price inflation up in these kind of suburban areas.



2015: Moving towards the smart home

As the new agenda for 2015 Smart Home World (23 – 24 June 2015, London) makesclear, this looks like being a pivotal year for the smart home.

While 2014 was the year that the media and entertainment industry became obsessedwith data, 2015 will be the year that the customer really starts to take centre stage asthese companies begin to harness the range of data now available to provide highlypersonalised services that rely on data and ability to extract intelligence from data.

Highly personalised entertainment experiences

When it comes to understanding consumers and their associated viewing habits, there is avast amount of data now available that allows us to paint a picture of what consumers arewatching, when they are watching it and on what device.

However, the entertainment industry on the whole has been slow in both embracingbig-data and in developing the analytics capabilities required to make sense of thisinsight.

Written by Thomas Campbell for IP&TV News


Online research becoming important for many UK buyers,

survey suggests

The impact that technology is having on the estate agency sector in the UK is changingthe property buying and selling landscape, it is claimed.

With the explosion in popularity of buyers and sellers using portals such as Zoopla andRightmove and the wealth of historic pricing data available, the internet has become theessential tool for the modern day house hunter.

A survey carried out by online estate agent eMoov has found that the majority of buyersare well armed with information before they step through the door when viewing aproperty.

Some 98% of respondents said they would take it upon themselves to do some researchbefore attending a viewing in anticipation of finding the right property. The first step inthe process is usually to visit the property details page and read the full propertydescription, the starting point for 67% of those surveyed. For some this was as far as theresearch process went, however 41% would also like to view a floor plan.



Yorkshire Building Society slashes mortgage rates as price

war continues

Yorkshire Building Society has cut rates on its mortgage range as lenders continue tocompete for borrowers.

Its mortgages are now cheaper for both smaller and larger deposits, but are they bestbuys?

Targeting buyers with small deposits

Yorkshire has launched a new mortgage deal aimed at buyers with just a 5% deposit (or95% loan to value, or LTV).

The deal is a two-year fixed rate at 4.49% and comes with a £845 product fee. It’savailable to both first-time buyers and those looking to move up the property ladder.

How does Yorkshire’s 5% deposit deal compare?

Barclays' mortgage-arm Woolwich is offering first-time buyers a 95% LTV mortgage fixedfor three years at 2.99% and no fee, so considerably less than Yorkshire’s deal, and it'sfixed for longer too.

Written by BT for BT


Guide to Professional Mortgages

Who can forget property programmes of the early-noughties featuring newly qualified GPsobtaining 110 per cent mortgages based on their projected future earnings?

Despite the fact these individuals were fresh out of university, with the ink barely dry ontheir qualification certificates, up until the credit crunch lenders were happy to hand out‘professional mortgages’ based on what they would be earning in 10 years time.

No stinky rented bedsit for those who managed to qualify as a barrister or a doctor. Forthese individuals, up until the credit crunch, their qualifications meant it was straight intoa luxurious home.

Today, professional mortgages are no longer the fairy godmother they were just a decadeago.

A professional mortgage is still one where the lender takes into consideration anindividual’s particular profession when assessing their application.

Professional mortgages provide beneficial criteria such as enhanced loan-to-value oraffordability as a result of the borrower’s occupation.

Written by FTAdviser for FTAdviser


Time to buy a home abroad? Where the strong pound meets

inexpensive housing

Data compiled for Telegraph Money shows a surge in interest among British buyerslooking to buy abroad, driven by the pound's new strength against the euro.

Buying a €500,000 Italian property, for example, now saves £26,041 compared withJanuary 2014.

The euro has weakened against sterling because of fears over quantitative easing,designed to rescue languishing European economies, and a possible standoff betweenEurope and Greece. All this has pushed the pound to a seven-year high, boosting thespending power of sterling buyers.

Now, 48pc more Britons are searching for property in Spain and Ireland than a year ago,Rightmove data shows. Interest is also up elsewhere. In the United States it has increasedby 38pc.

Our extensive research, presented in the charts, below, shows which countries balancecheap exchange rates with inexpensive housing, using official figures from Eurostat, theEU’s data agency, and the OECD.

Written by Kate Palmer for The Telegraph


all removals london news digest - january 2015

Documents

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