Posts with tag: Homes

Are more landlords needed to cater to demand?

Published On: August 9, 2017 at 8:39 am


Categories: Landlord News

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The most recent forecast from the Office for National Statistics suggests that there will be a rise of 8.4 million in the population of Britain during the next 22 years.

This could well spell more bad news for people trying to get onto the property ladder and will lead to the need for yet more properties available to let.

Supply/Demand Imbalance

A large supply/demand imbalance in the property market is set to continue, driving property prices up further in the medium to long-term.

As such, there are growing calls for the Government to reverse many of the anti-landlord measures imposed in recent years, such as the scrapping of wear and tear allowance and increases to stamp duty.

Jonathan Stephens, Managing Director of Surrenden Invest, noted: ‘Whilst it’s wonderful that we can all enjoy a longer life and a larger population can positivity impact the size and capability of those of working age, it does also increase pressures on basic requirements such as housing – namely, where will we all live?!.’

Are more landlords needed to cater to demand?

Are more landlords needed to cater to demand?

‘Successive governments’ record of building enough homes to meet demand we know has and remains woeful with the creation of new homes, especially within the private rented sector which is growing rapidly, being funded more and more by individuals and private institutions. With population forecasts such as these, it would seem wise for landlord investors to be encouraged, not penalised through stamp duty reforms and tax hikes as we have seen over the past 18 months.’[1]




London’s Greenest Boroughs for Properties Costing Under £500,000

Published On: June 30, 2017 at 8:13 am


Categories: Property News

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Although it may appear that summer has come and gone already, sun seekers will always be looking to catch the rays whenever possible. For that reason, gardens and public green space are essential to some house hunters. Landlords looking to target this market should check out London’s greenest boroughs for properties costing less than £500,000…

In a major city like London, properties near outdoor space, not to mention with a private garden, can come at a premium price. But having these on offer can really make your property stand out in a competitive market.

That’s why online estate agent has found London’s greenest boroughs where the average house price is under £500,000.

Using data on the land use of each London borough, eMoov looked at the locations across the capital that are cheapest for investors, but boast gardens and outdoor space.

The London Datastore provides data on the land use of every borough. This includes the percentage of the borough covered by domestic buildings, domestic gardens, non-domestic buildings, roads, railways, pathways, green space, water, and other areas of land use or unclassified land. For this research, the figures for domestic gardens and green space were used.

eMoov used the latest Land Registry house price figures for average property values in each borough.


London's Greenest Boroughs for Properties Costing Under £500,000

London’s Greenest Boroughs for Properties Costing Under £500,000

A private garden in London is a very sought-after feature, especially if you’re marketing your property during summer.

Topping the list with the highest percentage of land use allocated to domestic gardens is Harrow, with 34.7%. The northwest London borough not only has the largest percentage of boroughs with homes costing less than £500,000, but also the highest across the whole of the capital. Although this abundance of garden space comes at the upper end of the £500,000 bracket, at £473,019, it still offers a typical house price below the London average.

Sutton, where garden space stands at 34.5%, closely follows Harrow. This is the second highest of the capital as a whole, but with a more appealing average house price of £371,383.

Staying in southwest London, the borough of Croydon has 32.8% of land use allocated to domestic gardens – the third highest in the capital – with an average property value of £367,160.

Green space

Unfortunately, not every London home comes with a garden, so being near outdoor public spaces is the next best option for many Londoners wanting to get out of the house and escape the city life.

When it comes to the largest percentage of land use where green space is concerned, Havering takes the lead, with 59.4% and an affordable average house price of £362,983.

Heading south of the river, Bromley offers 57.8% of green space, but the average property value jumps to £433,008. Both Havering and Bromley are also the boroughs with the largest areas of public outdoor land use across the whole of London.

Although Richmond upon Thames has the third largest amount of green space in the capital, at 50.8%, its average house price of £675,435 means it doesn’t quite make the cut.

Instead, it’s west London’s Hillingdon, with the fourth largest percentage of green space, at 49.2%, and with a more affordable average house price of £415,716.


The list remains similar when it comes to combining both the amount of domestic garden area and green space in a borough, with Bromley and Havering swapping places, at 81.1% and 78.8% respectively.

Again, Richmond is home to the third largest percentage of both garden and outdoor space, but Croydon takes third place, with 69.9% of combined land use and an average property value of just £367,160.

Alternatively, if price is the deciding factor for you, the capital’s two most affordable boroughs are still an attractive proposition for outdoor living.

Both Bexley and Barking and Dagenham have an average house price below £335,000, and both sit mid-table for overall green space, at 56.8% and 56.3% respectively.

The average property in Barking and Dagenham goes for £277,508, with 22.8% garden area and 33.6% green space, while Bexley’s average house price is £334,053, with 25.1% of the borough covered by domestic gardens and 31.7% by green space.

The Founder and CEO of eMoov, Russell Quirk, comments: “Having accessibility to outdoor areas in your community can be equally as important as other amenities, such as good schools, transport links and supermarkets. Often these amenities will come at a cost, particularly in central London, which is helping drive the trend of London homebuyers moving further outward to be able to have more space, outdoor living and the important conveniences that make for a better quality of life.

“It is often those second and third rung buyers who will place a larger importance on a garden or nearby outdoor space, as they invest in a home for a growing family or to support a particular lifestyle. This research shows that although green space can be costly, there are many boroughs where it comes in abundance, without having to pay above the odds.”

Landlords, head to London’s greenest boroughs to offer your tenants plenty of green space at an affordable price for you.

Paragon Bank Finance Delivers Much Needed Housing in London

Published On: April 28, 2017 at 8:38 am


Categories: Finance News

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Paragon Bank is celebrating the delivery of much needed housing in Catford, southeast London through its development finance loans.

Paragon Bank Finance Delivers Much Needed Housing in London

Paragon Bank Finance Delivers Much Needed Housing in London

The housing scheme in London is the result of the first loan the development finance team approved over a year ago.

Since launching in November 2015 with an initial focus on residential projects across London and the South East, Paragon Bank is now funding schemes elsewhere in the country.

The homes in Catford are a result of a 16-month development worth over £1.7m, which has seen a disused office building converted into five mews houses. The terraced properties are aimed at families, and come with three bedrooms and two bathrooms.

Since launching, the development finance team has expanded beyond the South East, and now has sales representatives in both the Midlands and the north of England. The team offers competitive loans ranging from £500,000 to £10m.

The Development Finance Director at Paragon Bank, Fintan O’Riordan, says: “Progress on this development has been excellent and it is great to see the first loan we approved now delivering homes. Small-scale builders and developers have an increasing role to play in helping deliver the housing the country needs, and development finance is key to facilitating this.

“It has also been fantastic to assist a highly experienced developer on this project. Our business is based upon developing meaningful relationships with experienced developers.”

The development at Colbeck Mews, Catford is here on Rightmove:

Other features of Paragon Bank’s development finance product include:

  • Interest and fees defined at the outset, with no additional fees for achieving a higher sales figure on final development
  • Finance for up to 80% of development costs for the strongest propositions
  • Competitively priced senior debt funding solutions

Are you looking to get involved in a similar project? Perhaps you could deliver much needed housing in parts of the country that are suffering!

UK Ideal Home Size among Largest in the World, Survey Reveals

Published On: April 4, 2017 at 8:36 am


Categories: Property News

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Real estate blog Point2 Homes asked 29,000 people from nine countries about their current and ideal home sizes, to get a global perspective on typical residences and home size expectations. According to the survey, Brits have the fourth largest homes on average among surveyed countries, but ideal home size expectations are even bigger.

The nine countries surveyed were the UK, the USA, Canada, Australia, France, Germany, Spain, Mexico and Brazil. Here are some key findings:

  • 38% of British residents surveyed said their ideal home should exceed 2,501 square feet of space
  • Almost two thirds of UK respondents said their ideal home should be larger than the one they already live in
  • UK respondents have the same ideal home size expectations as respondents from Mexico and Australia
  • The UK and France are tied when it comes to the average current home size– between 1,500 and 1,600 square feet

The expectations of British respondents may come as a surprise, considering that Americans, Canadians, and particularly Australians are the ones better known for their love for large homes. However, considering that the average Canadian home is over 200 square feet larger than the British equivalent, American homes are 400 sq. ft. larger, and Australian homes 500 sq. ft. larger, the Brits’ desire for more room makes sense.

UK Ideal Home Size among Largest in the World, Survey Reveals

UK Ideal Home Size among Largest in the World, Survey Reveals

Britain in 4th place for average home size

The answers tallied during the survey show great diversity, both in terms of home sizes and expectations. Australia, for example, has the largest homes by far, but also wants the largest homes. Brazil, on the other hand, has the smallest average home size among surveyed countries, while expectations here are mostly reasonable.

At 1,590 square feet, British homes are larger than those in other European countries, like France, Germany, or Spain. In fact, the UK comes closest to entering the top three countries with the largest homes among the nine surveyed, behind Canada by only 10%. The US and Australia are in a league of their own, with average home sizes hovering around 2,000 sq. ft.

Britain in 1st place for largest ideal homes

However, the ideal home size is a different story, as residents of some countries simply like to dream big. Here, the UK is in the lead, with the biggest gap between average actual home size and ideal residence. 38% of Brits surveyed think the ideal home should be over 2,501 sq. ft. in size.

23% of responders in the UK say their ideal home would be larger than 3,000 square feet. Only Australians come close, with 21% of respondents stating that their ideal home would be at least 3,000 sq. ft.

The Australian’s homes surveyed are 2,032 sq. ft. on average, but most respondents think homes of over 2,501 sq. ft. would be ideal. Oddly enough, residential developers down under are building smaller homes, while recent reports in Britain show that the average size of a newly built home has been increasing since the 1990s.

Mexico isn’t far behind in terms of lofty home size expectations, as 32% of respondents stated that their ideal home size should exceed 2,501 square feet.

Brits enjoy little individual personal space, driving preference for larger homes

Brits enjoy little individual personal space, driving preference for larger homes

Brits enjoy little individual personal space, driving preference for larger homes

While average home size is an important metric, according to a report by the Royal Institute of British Architects (RIBA), property listings in the UK focus much more on the number of rooms in a house. Why? Because individual personal space is perhaps more relevant to homebuyers than total house size.

“Unlike in many other countries, homes are marketed by the number of bedrooms rather than floor space. This idiosyncrasy of the UK housing market means that space is not easily understood or translated into any meaningful information for consumers,” states Rebecca Roberts-Hughes, author of the RIBA report.

Divide the average UK home size by the average number of family members among respondents, and the result is 454 square feet per person. This figure places Britain among the countries with least individual living space.

Brits still have more breathing room in their own homes than Spaniards, Mexicans or Brazilians. Germans, on the other hand, may have smaller homes, but the survey data shows that they also have smaller families on average, which gets them more space per person than the French or the British.

The survey results also highlight the differences between what is typical in European countries, and what is typical in countries from the Americas and Australia. Generally, the latter tend to build larger homes. Among the European countries surveyed, Britain still reigns supreme in terms of home size. Ultimately, the survey shows that Brits are the biggest dreamers of all.


The Point2 Homes survey was made in Google Surveys and distributed to users via the Point2 Homes real estate platform and many other real estate websites in all surveyed countries, in the form of an optional pop-up. Point2 Homes analysts tallied and correlated the answers in-house.

Are councils holding up house building supply?

Published On: January 4, 2017 at 12:20 pm


Categories: Property News

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The volume of new properties being built in England is rising, but builders have expressed concerns that they are being held up by planning conditions. This issue is more prominent on smaller development sites.

Data from the latest housing pipeline report from the Home Builders Federation and Glenigan reveals that permissions for 76,242 homes were given approval during Q3 of 2016.

In addition, the figures show that the total number of homes built to September of last year hit 289,011. With this said, the number of actual sites these permissions are on dropped.


Reports indicate that local authorities are giving permissions for an increasing number of large strategic sites. This is opposed to a mix of both size of type required to actually deliver more properties.

This is encouraging, but there are concerns that these permissions have lots of ‘pre commencement’ conditions attributed to them. As such, builders are not legally entitled to start construction until they are met-a process that can take months.

The Home Builders Federation has welcomed the Government’s Neighbourhood Planning Bill, aimed at introducing a new process for agreeing pre commencement conditions. In addition, it has encouraged ministers to push further in limiting the number of conditions to help builders develop sites more quickly.

Are councils holding up house building supply?

Are councils holding up house building supply?


Moving forwards, the Federation has proposed that a range of site sizes and types should be allocated by local authorities. It believes that councils shouldn’t rely on one large site to meet their local housing requirements as it inevitable they will take longer.

In addition, the report notes that speeding up the time taken for builders to get onto sites and ensuring local authorities abide by the rules are key if more housing is to be delivered.

Stewart Baseley, chairman of the Home Builders Federation, said: ‘The house building industry is committed to building more homes but can only do so if it has the land on which to build them. It is encouraging that so many headline planning permissions are being granted but we simply have to find a way to unblock the system and reduce the time it takes to get a permission to the stage where builders can actually start building.’[1]

‘Construction work shouldn’t be held up by council officers getting round to approving designs for landscaping, playgrounds or ensuring developers are liaising with community artists. These could be agreed whilst infrastructure work gets started. Our housing crisis is too serious a threat to our future for everyone not to be pulling in the same direction. House builders are keen to increase output further but all parties need to work together if we are going to solve our housing shortage,’ Baseley added.[1]



The Office is the Least Used Room in British Homes

Published On: December 13, 2016 at 10:14 am


Categories: Property News

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The office has been named the least used room in British homes, knocking the dining room off the top spot, according to new research conducted by Ocean Finance.

The Office is the Least Used Room in British Homes

The Office is the Least Used Room in British Homes

The study found that the office sees less action than any other room in British homes, with more than a third (37%) of respondents admitting that their family spends the least time in there.

Previously consistent at the bottom of the tally, the dining room now ranks as the second least used room in the home. Once a place where families would enjoy quality time together each evening over dinner, use of the dining room is still dwindling. However, with Christmas now less than two weeks away, more families may be making use of the room yet again.

When it comes to spending time together, households are more likely to do so in front of the television. Almost seven in ten (68%) said their family spends the most time in the living room.

Landlords should take the research into account when renting out a property – it may be worth converting an office into another bedroom, knocking the kitchen through into the dining room to create a more open space, and focusing on making the living room as comfortable as possible.

The spokesperson for Ocean Finance, Ian Williams, says: “An office in a house is a favoured attribute when buyers are looking for a new home, however, the reality is that it is more than likely to be used as a large storage cupboard, barely entered into, than its original purpose.

“The same could be said for the dining room. Not that long ago, the dining room was the main place the family would assemble, to enjoy a meal as a family at the end of the day or to eat a hearty family breakfast at the weekend. However, today, this space has fallen into disuse in many homes across the UK.”

He adds: “Christmas could be the one exception to the rule, as families usually decide to celebrate the festive occasion by eating together in a more formal space than the kitchen-diner or living room – will there be a revival in your home?”

Remember that many British homes are being rented from private landlords, so focus on what families are looking for to secure happy and reliable tenants.