Surprising number of people ask about ghosts when viewing a house, research shows

This peculiar June 16, 2013 article by the Property Wire revealed what most potential home buyers ask real estate agents unusual questions when conducting property viewings.

Most people wouldn’t want to buy a haunted house and new research reveals that a surprising number actually ask estate agents about ghosts.
 
A survey from UK residential property experts Move with Us has uncovered the bizarre things that estate agents are asked when conducting property viewings.

Some 19% of questions asked by viewers were about ghosts with estate agents being asked if they were aware of any spirits residing in the property. One viewer even tried to connect to the ‘other side’ in the hallway just to make sure and another viewer said she would like a ghost in the house as she ‘likes the company’.

Fewer people asked about what is included in the property purchase with just 13% posing this question. However, one viewer asked if the parrot in the house he was viewing was for sale too.

Overall some 12% of the questions independent estate agents were asked by customers were about animals and 30% of those were about cows. Some of the questions included whether a roof has a problem with squirrels, whether the cows in a nearby field would moo too loudly and whether the cows were always in the field.

Only 6% of questions were about the neighbours. The more bizarre questions included asking if the neighbours eat a lot of chips and asking about neighbouring cats was quite common.

Other somewhat bewildering questions included asking if the kitchen was inside or out, could the buyer stay in the house before agreeing to buy and whether there was insulation in then garden.

‘Although the data that we’ve collated is amusing it does highlight the importance of buyers needing to be better equipped with as much information as possible before visiting a property,’ said Robin King, Move with Us director.

‘Knowing what questions to ask and doing a little bit of research is the best tactic and ensures that buyers have all the information they need to make an informed decision on their home purchase, avoiding any disappointments or regrets further along in the process,’ he explained.

‘Jotting down the questions you want answering prior to attending a viewing is always a good idea as often your heart can take over and rule your head before you’ve considered the more practical aspects,’ he added.

Article by: Property Wire

Article Source:  http://www.propertywire.com/news/europe/uk-house-buyers-ghosts-201307168008.html

UK Rental Prices hit 'Record High', survey shows

This July 15, 2013 article by Emma Rowley of The Telegraph shows the highest average UK rental amount on the record. This is bad news for tenants because average rents are growing faster than their income. 

The cost of renting a home in the UK has hit a record high, according to the latest monthly survey tracking the market.

The cost of renting a home in the UK has reached an all-time high, a survey showed, fanning concerns over the rising expense of British housing.

Tenants are paying an average of £811 monthly rent, according to the HomeLet Rental Index for June, representing a 3pc rise on the previous month and a 5.1pc increase on a year earlier.

The figure represented a "the highest average UK rental amount on record", said researchers, as eight of the 12 regions tracked by the survey saw average rents rise last month.

The picture of accelerating activity in the wider housing market was reinforced as property website Rightmove said home sellers' asking prices have hit record highs for three months in a row.

In Greater London, it now costs an average of £1,270 per month to rent a home, the highest price since September last year.

With the impact of the capital's housing market stripped out, the average UK rent was £681 - which was the highest since August last year.

Andy Richards, HomeLet’s business development director, said: “During this time of year, we do generally see an increase in the number of people renting a new home – particularly students who move into higher yield properties – which therefore pushes average rents up."

However, he noted that tenants' income is not keeping pace with rental inflation, with the survey showing the average tenant's income rose by just 0.8pc to £28,000 a year.

“Yes, rents are going to increase naturally – however, costs are rising at a rate much faster than both inflation and tenant income," he said. "With recent reports of increased tenant rent arrears, it appears that maybe those renting a property just cannot afford spiralling living costs."

The HomeLet index tracks average rents on the properties rented in the UK using its tenant referencing service. HomeLet says it references up to 1,700 applicants a day.

Author: Emma Rowley

Article Source: http://www.telegraph.co.uk/finance/personalfinance/houseprices/10179754/UK-rental-prices-hit-record-high-survey-shows.html

 

10 Things to Consider when Buying an Investment Property

This useful article by Michael Yardney, the director of Metropole Property Strategists tells us about 10 important tips and helpful strategies that we need to examine before purchasing an investment property.

How do you succeed? Where do you start?

Our property markets have turned the corner and there are more people interested in getting into property investment.

However if history repeats itself, and it most likely will, while some will develop financial freedom through property, many investors won’t get past their first or second property.

So how do you succeed? Where do you start? There are so many options out there, everyone seems to have an opinion and many of their suggestions are conflicting.

To start you on the right path I’d like to help by suggesting ten questions that, I believe all budding investor needs to get their head around before buying into the property game.

1. What do I want to achieve?

Is it money? Wealth? Financial freedom? Maybe all of the above!

Remember the bricks and mortar are not really the end goal; rather they’re just the vehicle you choose to get there.

So firstly identify your end goal and then formulate a plan to get you there in a timeframe that works for you.
You see...property investment, as with any other journey, requires you to know where you’re heading and how you intend to get there.

Unfortunately most investors don’t have a plan and that’s why they get lost along the way or get distracted by the latest investment fad or the next “hot spot.” And if they do have a plan they rarely review it to make sure they’re on track.

2. What is my preferred strategy?

Once you know where you are going you need to implement an investment strategy that helps you get there.

Since you can’t save your way to wealth so my goal is to build a substantial asset base though capital growth. My 4 stranded strategy to achieve this is:

1. Buy a property below its intrinsic value

2. In an area that has a long history of strong capital growth

3. I look for a property with a twist – something unique, special or different and

4. A property where I can manufacture capital growth through renovations or redevelopment.

3. What type of property?

You need to own the right type of property; one that will be in continuous strong demand from both owner occupiers and tenants, because the former push up market prices, whilst the latter help to pay your mortgage.

Today more people are trading their backyards for balconies and that’s why I prefer inner suburban apartment style accommodation.

4. Should I buy something old or new?

More often than not, new or off the plan apartments are a “box” in a high-rise monolith. The problem here is that you pay a premium to the developer and miss out on the first few years’ capital growth. At the same time the majority of owners in the building are likely to be investors. I prefer buying where owner-occupiers, who look after the building better, predominate.

If you haven’t guessed it by now, I prefer to buy an established apartment, in a character filled block, which has the potential to be “tarted up” with cosmetic refurbishments.
This gives you the potential to not only increase your rental income, but also “manufacture some capital growth.

5. Where should I buy?

Location is critical to the long term performance of your investment. I look for suburbs that have always outperformed the averages or ones going through gentrification. These are generally lifestyle suburbs in major capital cities close to the CBD, amenities or the water.

Then I drill down even further and chose the best spots in those suburbs.

6. When should I buy?

While there are investment opportunities at most times, I’ve found that many of my successful investments have been made by going against the crowd and buying when most people are worried about the market and sitting on the sidelines.

7. What can I afford?

Before you start looking at what to buy, you need to know what you can afford to buy. Get a loan pre-approved and make sure you’ve set some funds aside for acquisition costs, holding costs and a financial buffer for a rainy day or rising interest rates.

8. How will I set up my purchase?

It’s important to own your property in an entity that protects your assets and legally minimizes your tax. Whether you buy in your own name, your super fund or a trust, you need to be aware of what it will mean for you and your family, now and in the future.

9. Who should I ask for help?

If you are the smartest person in the room, you are in the wrong room! The real estate game is a team sport, requiring expert input and advice from a qualified accountant, a smart solicitor, a finance broker, an independent property strategist and a mentor who will help set you up for a win.

10. Should I take advice from my friends and family?

In general the answer is - no! Not unless they’ve invested successfully through a number of property cycles.
This is because “the crowd” is usually wrong. When everyone’s optimistic, people come out of the woodwork keen to give well-meaning advice, however investors tend to be most optimistic at the peak of the cycle – when the risk is the greatest. Just like they are pessimistic at times when the property market is flat and the risk of further downside is low.

As our real estate markets pick up and the cycle moves on, a whole new generation of investors will enjoy the prosperity property can bring. If you ask the right questions you could be one of them.

Author: Michael Yardney

Article Source: http://au.pfinance.yahoo.com/our-experts/michael-yardney/article/-/17999116/10-things-to-consider-when-buying-an-investment-property 

London Remains Safe Haven For Middle East Property Investors

An interesting article by Aarti Nagraj of the Gulf Business stating that London sustains it's title as the hottest sanctuary for Middle Eastern property investors.

However, GCC investors are looking beyond traditional luxury hotspots such as Mayfair and Knightsbridge.

London continues to remain the most attractive property hotspot for Middle Eastern investors, although buyers are now seeking for greater value for money.

Paul Preston, director and head of property investment company IP Global Middle East said the UK capital is still considered a safe haven for property investors.

“Through the first six months of 2013 we have seen increased levels of investment (year on year) going into central London with transaction levels up almost 50 per cent,” he told Gulf Business.

However, Middle East investors are not all investing into the luxury apartments of Mayfair and Knightsbridge as they did in the past and are now looking at areas undergoing regeneration programmes.

“In April we launched a 55 unit property in EC1 which we sold out within 48 hours with 75 per cent of the transactions coming from Middle East investors,” said Preston.

“GCC investors are now starting to look for value and prefer investing into areas with prices at £1,200 per sq ft rather than the £4,000 per sq ft of Knightsbridge and Mayfair.”

London benefits from being a political safe haven and a global financial centre, and with the pound dropping in value – reaching below the 20 year average versus US dollar – investors are quickly stacking up properties in the city, agreed real estate consultant Jones Lang LaSalle.Property agent Hamptons, which held an exclusive two-day exhibition of prime London property in Dubai in April this year, also said it is recording an increasing interest from regional real estate buyers.

Apart from London, Middle East investors are also investing capital in residential areas in cities such as Chicago and Kuala Lumpur, said Preston.

“Investors continue to look at markets that are priced well, markets which offer full legal ownership to foreign investors, in locations where there is a strong tenant demand. These are the key drivers currently for GCC investors,” he added.

In its latest report, IP Global stated that Jakarta, in Indonesia, is currently the brightest city for overseas real estate investment, followed by Australia’s Mackay and Kuala Lumpur in Malaysia.

Author: Aarti Nagraj

Article Source: http://gulfbusiness.com/2013/07/london-remains-safe-haven-for-middle-east-property-investors/#.Ud9y8UE_tZ0

Landlords and Developers Must Adapt To Online Retail Says Report

A brief article by Neil Bird of the Move Hut discussing the need of landlords and developers to adapt to online retail market to authenticate themselves as part of the e-commerce platform.

The UK has been ranked as the world’s most developed online retail market and landlords and developers must adapt to this new world, says Cushman & Wakefield (C&W).

The warning follows a comprehensive analysis of online retailing carried out by the property firm which places the UK marginally ahead of the US due to sales per capita.

Global online retailing has been growing at a rate of 18 per cent per year over the past three years and is changing the landscape of the market as retailer’s property requirements shift in response to the challenge.

This response varies from market to market depending on economic, cultural, regulatory and infrastructure factors but it is something C&W’s Matt Winn believes the property industry must consider as retailers seek to align their platforms.

“Some retailers are going for fewer but larger stores, others for smaller but more stores; there is, as yet, no right or wrong answer on issues like store and network size.
“However, we know stores will change and evolve as retailers experiment with omni-channel retail – and landlords and developers must be ready to adapt,” he said.

In the US, Congress is currently considering the Marketplace Fairness Act which will enable states to collect taxes from online retailers and a similar proposal is being discussed in the UK. Bricks and mortar based retailers believe these measures are necessary in order to address the disparity in taxation which leaves them at a disadvantage.

Despite these difficulties, and the forecast that high streets may contract further before a balance is reached, the report finds that physical stores will continue to be relevant. In this respect C&W believes that the importance of flagship stores will grow and location will become an increasingly crucial factor.

In prime locations, which provide the retail experience and leisure facilities that today’s consumer demands, rents will rise  but in less in-demand locations rents will continue to fall, the report predicts.

C&W also highlights the potential for growth in large regional shopping centres, in-town developments and malls but, here too, retailers will need to adapt in order to establish themselves as a part of the ‘e-tail infrastructure platform.’

Author: Neil Bird of Move Hut

Article Source: http://www.movehut.co.uk/news/landlords-and-developers-must-adapt-to-online-retail-says-report-15358/