Property News Round-up 27/1/16
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Hi guys and welcome to our fortnightly property news edition, today we look at an array of news items from the Manchester property boom to leaving you with a quiz!
Manchester Property Boom Map
Student and property enthusiast Ed Howe has put together an interactive map of Manchester which shows all the projects that are taking place in the city to demonstrate the clusters of development activity.
The Newcastle University student is currently studying for a masters in city planning and hails from the Salford area.
His colour coded map illustrates the areas where proposed buildings have been granted for construction. In addition, the map also highlights masterplan areas and transport schemes.
Howe stated: “I think Manchester is pretty special at the moment, as a city we’re starting to attract a lot of investment and cranes are beginning to bounce up onto the skyline once again, constructing skyline-altering schemes.” (Place North West, January 2016).
The masters degree student also mentions that it can be quite difficult to imagine, or remember, all the various developments and that his map makes the city’s regeneration and property boom accessible to the people who live and work in Manchester.
You can view Ed’s interactive map here and read the rest of Place North West’s article here.
Image Source : Place North West
The North West of England is the most lucrative region in the UK for private rented sector
The North West of England is the most lucrative region in the UK for private rented sector landlords with Manchester and Liverpool coming out top for rental yields. (Property Investor News, January 2016)
LendInvest’s recent quarterly report also indicates that Cardiff, Coventry and Oldham come next, followed closely by Sunderland, Blackburn and Durham.
The fintech company’s report which analyses changes in trends in rental yields, capital gains and landlords’ total roi, also shows that London and the South East still championing house price growth.
In the report it shows that all of the top 15 performing postcode areas for capital gains are located in London and surroundings areas. Inner London however, sits in 18th place for rental yields but still comes up on top for capital gains.
LendInvest’s CEO Christian Faes mentioned in Property Investor News that there could be some weakening in Londons’s dominance of capital gains tables if house price growth does soften slightly as forecast, and as new buy to let stamp duty hikes take effect.
Buy-To-Let Landlords Storm UK Housing Market
A landlord industry body has claimed that there is currently a rush to purchase buy-to-let properties before a stamp duty hike arrives in the Spring.
ARLA’s (The Association of Residential Letting Agents) managing director David Cox stated in This is Money that ‘Buy-to-let landlords are determined to complete purchases before the changes come into force in April are storming the UK housing market, meaning the lull we’d usually see is less significant.
He also mentioned in the This is Money article that with supply, demand and the number of agents reporting rent increases all declining in December, this could well be the calm before the buy-to-let storm.
In addition he also stated that this period of easing in rents could soon end, with new rules cutting the number of properties available to let.
Many in the property industry have mentioned that after April it will be very likely to see the number of buy-to-let properties on the market begin to decrease, and the ramifications will most certainly have a detrimental effect on renters across the UK.
You can read more on the buy-to-let story here.
Brexit poses ‘serious threat’ to UK property investment
A REFERENDUM vote to leave the European Union would pose a serious challenge for the UK property market, according to new research. (Yorkshire Post, January 2016)
A recent poll that was conducted by a group of property experts revealed that 65 per cent, believe that a Brexit would have a negative impact on investment in UK property.
What was particularly interesting to see it that only 10% of those who were surveyed stated that they would consider relocating their business to another EU country if the UK did leave the EU.
As The Yorkshire Post mentions, survey participants also highlighted their concerns about the housing shortage, rising construction costs and the prospect of higher interest rates, in addition to the property industry skills shortage and planning reforms.
A property industry expert stressed that we want certainty, regardless of the in or out EU debate. He uses the Scottish Referendum example of how many occupiers and investors delayed their decision-making due to having uncertainties.
Image Source : Al Jazeera
Quiz Time! What is all the property in the world worth?
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