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Landlord and Tenant News: People taking unusual measures to protect their homes

Thu, 22 Dec 2011 18:05:33 +0000

Many property owners are turning to unorthodox methods to make their home secure over the Christmas period.

A new survey carried out by insurance company MORE TH>N shows that over 50 per cent of people are fitting their property with homemade booby traps and decoys to deter thieves rather than use traditional methods such as fitting alarms.

According to the research, family visits and winter holidays means than more 13 million households will be left empty this Christmas, a period when the number of break-ins tends to rise.

Methods used to protect their home include leaving a radio on (21 per cent), icing paths and driveways (13 per cent), placing cardboard cut outs of people behind curtains (7 per cent) and wetting up trip wires and ropes around the house (5 per cent).

Matt Pernet of MORE TH>N Home Insurance said: "Our homes are one of our most treasured possessions, and given the number of burglaries at Christmas, it's understandable that Brits would look at more elaborate methods of protecting their homes from intruders."

It seems some people have been taking their home protection tips from Kevin out of the movie Home Alone.

Building & Construction News: Building plans are less than half of what is needed

Wed, 21 Dec 2011 17:14:13 +0000

The number of new properties currently in the planning stage is less than half the amount needed to meet demand.

According to the Home Builders Federation (HBF), planning permissions are ten per cent lower than last year and arenot doing the housing market any favours.

Just 32,900 home planning approvals were granted in the three months running up to the end of September this year. Over the first three quarters of 2011, 100,446 homes were approved.

Stewart Baseley, executive chairman of the HBF, said that the numbers demonstrate a clear need for the government to deliver a new and reliable planning system which will provide the land needed to meet the current need for new properties.

He added: "Continuing to under-deliver housing is storing up huge social and economic problems for the years ahead and it must be addressed."

In November, the government launched its new build indemnity scheme, which it hopes will help young people get a foot on the property ladder.

London Rental Property News: Rental property demand 'continues to rise'

Thu, 13 Oct 2011 15:51:05 +0100

Landlords with property to rent in Kilburn, London, might be glad to hear than tenant demand is continuing to climb, according to data from Paragon.

The buy to let funding specialist noted that 44 per cent of landlords report tenant demand increased during the third quarter of this year against four per cent who thought it had declined, while one in two landlords say they expect demand for property to rent in London and other parts of the UK to keep rising in the next 12 months.

Nigel Terrington, chief executive of the mortgage lender, commented: "Tenant demand has continued to increase for a third quarter, which is perhaps not surprising considering the current squeeze on the UK housing market as a whole.

"More people than ever before are relying on the private rented sector so it is positive to see that landlords are looking to invest in their portfolios and are also diversifying the types of property in which they are investing in order to meet tenant demand," he added.

London Rental Property News

Buy to Let Investment News: London 'a strong market' for buy to let

Wed, 12 Oct 2011 15:11:51 +0100

Prospective landlords looking to secure buy to let funding for a new property will find London is "still a strong market in terms of capital growth".

This is the view of Alan Ward, chair of the Residential Landlords Association, who cited research from the organisation showing that most landlords are looking at investment over 15 years.

"There will always be investors moving in and out of the private rented sector because it enables people to control their financial destiny through investment in housing. But the risks remain the same; values can fall as well as rise, as we have seen," he pointed out.

Mr Ward's comments came after a survey from Townsends revealed that void periods for property to rent in London, Hampshire and Surrey are virtually non-existent, particularly for one and two-bedroom homes.

This could persuade more people to consider buy to let as an additional source of income, if they are able to secure funding for their investment.

Buy to Let Investment News

London Property to Rent: Student accommodation 'very lucrative'

Wed, 28 Sep 2011 12:00:43 +0100

People looking to invest in student accommodation in London could be making a lucrative move, according to Easyroommate.co.uk.

Director of the website Jonathan Moore explained that student housing can be one of the most profitable forms of property investment if it is managed correctly.

"At present, students are paying an average of £325 per month for a room across the UK, and on average there are four students per home. This means the average student landlord will be earning over £11,700 in rental income over the course of the academic year," he pointed out.

Landlords should not worry yet that the increase in tuition fees will reduce university place uptake as the rise in charges could actually work in investors' favour.

"As fees increase, cost-conscious students will be looking to save money wherever possible, and we anticipate a growing number will elect to move to digs for their first year and avoid university halls altogether to keep costs down," Mr Moore explained, adding that student housing is on average 23 per cent cheaper than living in halls.

London Property to Rent

Investment Finance News: Landlords 'should be optimistic' about buy to let opportunities

Mon, 12 Sep 2011 09:10:00 +0100

Landlords with property to rent in London and other parts of the UK are increasingly turning their thoughts to expanding their portfolios, an independent property industry expert has said.

Malcolm Harrison commented that many landlords are right to be optimistic about their buy to let prospects, as the rental market will "remain very tight" until there is more housing stock and a wider range of UK mortgage offers for first time buyers.

"There is no house building, there is a shortage of decent housing in many areas and you can't get a mortgage, so quite a lot of people are going to be very dependent on buy to let investors," he pointed out.

"I think [landlords] are right to be cautiously optimistic anyway because we don't know what is happening with the overall economy yet."

Mr Harrison's comments come after LSL Property Services published research showing half (49 per cent) of landlords think now is a good time to invest in their portfolios, with 86 per cent are planning to do just that in the next few months.

Investment Finance News

London Rental Property News: New hostel to be opened in Kilburn

Thu, 14 Jul 2011 17:13:07 +0100

Prospective buyers looking for flats and houses for sale in Kilburn, London, might be interested to hear that the local council is transforming a dilapidated former homeless shelter into a brand new hostel.

As a result of a partnership between Camden Council and housing association Irish Centre Housing, Conway House in Kilburn will be opened as a 60-bed hostel next year.

People looking for affordable housing in London may find it here, as the development will boast six units for families.

The property had undergone a change of use in the 1970s, having been run as a nursing home until it was opened as a shelter for homeless men, and had not been refurbished since the early 1980s.

Councillor Julian Fulbrook, cabinet member for housing, commented: "The new Conway House will be a great improvement."

Meanwhile, the Royal Institution of Chartered Surveyors believes office space in London is set to see a rent price hike in the short term.

London Rental Property News

Social Housing News: Government plans 'are a paradox'

Tue, 12 Jul 2011 12:05:17 +0100

Government plans to restricts tenants' right to complain about their landlord have been described by the Residential Landlords Association as "a paradox".

Alan Ward, chair of the organisation, commented that the proposals are "certainly contrary to this government's intention to reduce bureaucracy".

His comments came after the National Housing Federation (NHF) teamed up with Shelter and the Tenant Participation Advisory Service to protest against the plans.

Mr Ward said: "I would support the NHF and Shelter's position on this because it is a paradox as to why they would want to have some third party intervening in a relationship where the housing association or the RSL [registered social landlord] is seeking to improve its relationship with the tenant."

He added that occasionally there may need be a third party to address a particularly extreme issue, but it should not be "a day-to-day affair" as this will only increase paperwork and red tape.

Social Housing News

Social Housing News: Restricting tenants' rights 'is disempowering'

Mon, 11 Jul 2011 15:42:27 +0100

A housing association body has joined forces with Shelter and the Tenant Participation Advisory Service to stand up for rental tenants' rights.

The National Housing Federation, along with the other two organisations, has written to the government in protest against proposals to restrict tenants' right to complain about their landlord.

David Orr, chief executive of the federation, commented: "When the government has said it is committed to reducing red tape in all other areas, why are social housing tenants any different?

"Housing associations want to provide the best possible service to their tenants, including an effective complaints regime," he pointed out.

"Adding red tape and disempowering tenants could mean fewer, less successful complaints."

Mr Orr's remarks came after government plans, set out in the Localism Bill, mentioned that social housing tenants would not be able to complain directly to their housing ombudsman, which the three agencies believe could disempower tenants and be more costly to the public.

Social Housing News

Investment Finance News: Location is important when buying to let

Fri, 01 Jul 2011 15:29:48 +0100

Those who are thinking of investing in buy to let property have been advised to consider the location of their prospective rental homes.

Paul Fletcher of the Residential Landlords Association commented: "It is [not just] what town do we need to buy in, [but also] whereabouts in that town. What are the transport links like? In a university town, that is quite important so that people can get to university quite easily."

This is something that should be considered by people who want to purchase student accommodation in London.

Mr Fletcher also said: "This is a nice tip: buy [a property] near a school. How long is a kid going to be at school for? That could be a nice long-term let."

His comments came after research from MyVoucherCodes.co.uk revealed that two-thirds of tenants did not haggle on their rent rate when they moved in, with one in five (18 per cent) not wanting to lessen their chances of securing the property.

Investment Finance News

London Property to Rent: Tenants' bid to take over London estates receives backing

Fri, 17 Jun 2011 17:02:23 +0100

Tenants living in property to rent in London's Hammersmith and Fulham area have set out plans to take over two council estates earmarked for demolition.

Both estates, which contain 750 council houses, have been included in proposals for a redevelopment of Earls Court, which could provide thousands of new homes in the area, but people renting properties in the council-run sites wish to take ownership of the estates.

They are being supported by London assembly member Jenny Jones, who will be raising the matter with London mayor Boris Johnson.

She said that demolishing the estates would be a waste of money, given that the area has received £15 million of investment in the last ten years, in addition to the tenants' wishes.

Ms Jones also argued that the deconstruction work would have a significant carbon impact.

The local authority has written to the government in an attempt to quash the takeover proposal on the grounds that the Earls Court project has wider benefits for the area.

London Property to Rent

London Property Market News: Spring bounce in housing market 'hampered by lack of mortgage funding'

Tue, 14 Jun 2011 17:05:03 +0100

A dearth of UK mortgage lending options contributed to the lack of a spring bounce in the housing market, according to figures from the Royal Institution of Chartered Surveyors (RICS).

Its latest UK Housing Market index revealed the average number of completed house sales per surveyor dropped by 3.4 per cent to 14.7 in the three months to May 2011, which is the lowest average since January.

The sales to stock ratio also declined to 20.6 per cent, significantly below the long-run average of 33.5 per cent.

RICS housing spokesperson Ian Perry commented: "Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon.

"Uncertainty over the economic outlook remains as important as the availability of mortgage finance in depressing demand."

However, those with property to rent in London and other parts of the country could benefit from the growing "appetite to rent".

London Property Market News

New Build Development News: Increasing number of new build properties 'is great news'

Tue, 24 May 2011 11:34:23 +0100

The number of new build properties that began construction in the first quarter of 2011 stood at 29,140, government figures show.

Vernon Pethard, managing director at newhomesforsale.co.uk, said this is "great news" and should lead to a jump in new home sales reservations this year.

"Buyer demand is clearly there," he noted, citing increasing numbers of visitors to his site in the search for new build properties.

However, Mr Pethard pointed out that the government must do more to help house builders construct more homes.

"Despite the recent increase in supply, there are still nowhere near enough new homes coming onto the market, which is placing upward pressure on property prices across parts of the country, preventing many would-be first time buyers from buying a new home."

This is resulting in more people "being forced" into renting, which pushes rents up higher while social housing waiting lists are "soaring".

New Build Development News

London Property to Rent: London council takes over responsibilities of housing association

Thu, 31 Mar 2011 15:35:50 +0100

One of the many housing associations in London is to be taken back in-house by a local authority in the hope of saving £5 million.

Ealing Council's decision to bring the responsibilities of its arm's length management organisation Ealing Homes back under its own control was made following consultations with tenants and leaseholders, Inside Housing reports.

Cabinet member for housing Hitesh Tailor commented: "Although Ealing Homes did a good job in delivering decent homes, this was a good time to take a fresh look at the service.

"We drew up plans to bring the service in house last year, but the final decision rested with tenants and I'm delighted they backed our proposals," he explained.

Ealing Homes is expected to finish the local authority's decent homes programme this month, the publication states.

Meanwhile, figures from Nationwide show homes in Ealing recorded an annual percentage change of ten per cent last quarter, with the price of property in the borough now standing at an average of £318,211.

London Property to Rent

Social Housing News: More tenants gives landlords 'real opportunity'

Wed, 30 Mar 2011 17:20:25 +0100

Landlords have the chance to increase their portfolios by investing in property to rent in London.

James Davis, chief executive of Upad, noted that the increase of first time property buyers who are unable to get any UK mortgage offers means landlords have a "real opportunity" to seize the day.

"There are far more tenants in the market and there is various noise that one in three properties that are currently on the market won't actually sell because there aren't the first time buyers to purchase," he pointed out.

Meanwhile, the London Assembly's planning and housing committee has listened to queries put forward by housing associations over the proposed Affordable Rent model.

The committee heard that a growing need for affordable housing in London combined with rising market rate levels must be dealt with.

Committee chair Nicky Gavron noted: "There is a specific London dimension to this issue especially in the more expensive areas in both inner and outer London."

Social Housing News

New Build Development News: Number of new build properties 'unlikely to increase'

Wed, 30 Mar 2011 15:05:28 +0100

The number of new build properties in the UK is unlikely to increase much in 2011, according to the Federation of Master Builders.

Brian Berry, director of external affairs at the organisation, noted that "it doesn’t look promising".

"There are a couple factors. One is the lack of finance [...] which is proving to be a handicap to a lot of people either wanting to get on the housing ladder or to get a new mortgage to move up [the ladder]," he pointed out.

The second is the restrictions UK mortgage lending companies are continuing to put on certain homebuyers.

"We need an easing of mortgage liquidity so that first time buyers can get into the market," Mr Berry added.

His remarks come after figures from the National House-Building Council show an increased number of properties were registered by house builders during February, with 8,917 new registrations compared with 7,788 in January.

New Build Development News

Building & Construction News: Skilled workforce needed to meet green building demands

Fri, 11 Mar 2011 09:27:37 +0000

More affordable housing in London and other parts of the UK could be built if there were more apprentices.

This is the opinion of Steve Turner, head of the Home Builders Federation, who commented: "If we are going to deliver the homes we need in the future then clearly we have got to find a way of training the people that will allow us to do that."

He pointed out that the trend towards greener living and sustainable homes is a great example "of where we are going to need qualified and trained people in the future", adding that "all parties need to be working together to ensure we have got that capacity and those skills for the coming years".

Mr Turner's comments come after the Federation of Master Builders reported that the creation of a skilled workforce able to work on green building & construction under the government's retrofit initiative will require more than just 1,000 apprentices.

Building & Construction News

Buy to Let Investment News: Buy to let conditions 'will remain tough'

Tue, 22 Feb 2011 16:14:37 +0000

Buy to let funding restrictions are set to remain tough this year, according to LettingFocus.com.

David Lawrenson, private rented sector expert at the property website, commented that the banks' requirement to pay back some of the money lent to them by the government will mean finance could be hard to come by for owners of commercial property in London and other parts of the UK.

"I certainly don't think it is going to get any easier," he said.

"I expect mortgage fees and the typical level of deposit required to stay high. And there is a pretty strong chance that the base rate will go up - making all mortgages more expensive."

Mr Lawrenson's comments follow research from Paragon showing that tenant demand for property to rent in London and other UK towns hit a two-year high in the final three months of 2010.

Four in ten landlords reported an increase in tenant demand during the fourth quarter, compared with 36 per cent in the preceding quarter.

Buy to Let Investment News

London House Price News: Affordable housing 'should be a priority'

Fri, 18 Feb 2011 13:01:06 +0000

The availability of affordable housing in London and other parts of the UK should be improved.

This is one of the suggestions made by PricedOut, the national campaign aimed at getting more people into the property market.

Matt Griffith, spokesman for the organisation, explained that the government's first time property buyer summit hosted by Grant Shapps focused on the wrong solutions.

These included "pushing banks to lend more or extending the availability of more risky mortgage or housing products", as "is it hard to see how a problem caused by loose lending will be solved by more loose lending".

Instead: "Rather than trying to prop up prices it would be better to let them fall and improve affordability in the simplest way. Lower house prices are the best way to help first time buyers," Mr Griffith argued.

His remarks come after the Council of Mortgage Lenders predicted that gross lending this year will, at £135 billion, be significantly less that the £360 billion worth of lending seen at the height of the pre-crunch housing market.

London House Price News

London Property to Rent: Affordable housing shortage 'is huge issue'

Mon, 14 Feb 2011 17:03:11 +0000

A shortage of affordable housing in London and other parts of the country is a "huge issue" at the moment, the Home Builders Federation has stated.

Steve Turner, head of communications at the organisation, commented: "Housing supply is hugely reliant on the supply of mortgages and we have seen mortgage availability dramatically reduce, such that first time buyers have dramatically reduced in number over the past few years.

"We need to some sort of sensible levels of mortgage lending return," he argued.

A first time property buyers summit that is to be hosted this week by housing minister Grant Shapps will hopefully deliver "sensible policies" which will allow more first time buyers to enter the housing market, Mr Turner added.

His remarks come after research from Glenigan showed that house building project starts for the three months to January 2011 were 28 per cent down on the same period a year ago.

London Property to Rent