Northwest Leads the Way in Rental Increases
According to Proptech company Goodlord, tenants in the UK are paying 4.1% more than a year ago with the Northwest recording a huge 6.4% increase. Manchester and Liverpool are offering more and more opportunities for job seekers and with the average rentals less than half of those in London, demand for rental properties continues to be robust. Having said that, Greater London has experienced a comeback since the Pandemic, recording a healthy 4.4% increase. Goodlord noted that average void periods have fallen across the country with available properties falling to record lows in the Northwest.
Posted by: Kelvin Tayfield, Sun, Apr 10th 2022
Green Properties Become a Buy-to-Let Priority as Lenders Respond
Landlords are being offered more and more green mortgage products for properties with EPC ratings of E or higher although this is likely to change to C from 2025. Green mortgages offer borrowers incentives ranging from lower interest rates to cash back incentives as lenders respond to Government’s initiative to become carbon neutral by 2050. Tenants are looking more and more for greener properties and are also keen to save on utility bills since the recent spike in energy costs. This plays into the hands of new build landlords who benefit from the latest energy efficient building methods.
Posted by: Kelvin Tayfield, Sun, Apr 3rd 2022
Russia-Ukraine and other Price Pressure Factors in UK Construction
A recent survey by Whathouse? revealed that 73% of UK builders predict material shortages during 2022. Respondents also highlighted the shortage of bricklayers and plasterers as well as planning obstacles and logistical issues post Brexit. According to a separate article given the heavy reliance on Russian fossil fuels, the sanctions imposed on Putin’s regime will have a profound effect on the cost of construction materials and related transport costs. Whilst overall builders are optimistic about their ability to deliver projects, they agree that price rises are inevitable.
Posted by: Kelvin Tayfield, Sun, Mar 27th 2022
Planning Restrictions Continue to Hamper UK Housing Supply
According to a professor of construction economics at University College London, planning restrictions are a bigger hurdle to solving the housing shortage than rising building costs. Professor Szumilo explained that complying with burdensome regulations are adding significant costs to house building in addition to the negative impact on delivery times and building in desired locations. England alone must build 340,000 homes per annum to tackle the housing crisis but has not managed more than 250,000 in recent years. Against this background house builders are seeing significant material cost increases and supply chain problems all of which will continue to apply upward pressure on house prices.
Posted by: Kelvin Tayfield, Sun, Mar 20th 2022
The X1 Collection UK Property Exhibition - Singapore
It was a busy day one for the X1 Collection UK Property Exhibition at St. Regis Hotel, Singapore. 30 groups have turned up and expressed their interest for the Manchester properties. Everyone liked the special offer for the rental guarantee.
Bianca from Get Ground and Sam of Capricorn Financial Consultancy offered tremendous support on company structures and home financing throughout the day.
▪️ X1 Cheltenhan Place
✔️ Prices from £119,995
✔️ 7% NET rental guarantee for 5 years
✔️ Free legals and furniture
▪️ X1 Michigan Towers
✔️ Prices from £175,995
✔️ 6% NET rental guarantee for 2 years
✔️ Free legals and furniture
▪️ X1 Chatham Waters
✔️ Prices from £220,000
✔️ 6% NET rental guarantee for 2 years
✔️ Free legals and furniture
▪️ X1 Manchester Waters
✔️ Prices from £129,995
✔️ 6% NET rental guarantee for 5 years
Contact us on +65 8725 0308 for more information.
Posted by: Downtown International, Sat, Mar 19th 2022