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A new north-south divide in rental property?

For decades, people have talked about a north-south divide, with London and the south-east being established as the engine room of the UK economy and the Midlands and north suffering a decline as old industries slipped away. Inevitably, such trends have impacted in the property sector. 

This may appear to be particularly true after the publication of the latest Hamptons International Monthly Lettings Index, which has shown that although rents have risen by 1.9 per cent on average across the UK, there is significant regional variation; in the north they were down by 0.3 per cent and in Scotland they plunged by 5.3 per cent. 

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By contrast, London, the south-east and south-west, the Midlands and Wales all saw increases, while the East of England witnessed the largest rise at 3.6 per cent. London's 2.7 per cent increase represented a recovery from last year's two per cent fall. 

All this might suggest that the south remains the main place for rental investors to go and most of the nort

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Estate agency boss tips London to remain good investment prospect

London will remain a strong long-term property investment prospect, despite its current wobbles amid uncertainty over Brexit, the chairman of global estate agency Knight Frank has said. 

Many have questioned whether the capital will end up with a diminished role as a global business and financial centre once Britain leaves the EU, with the underlying assumption being that if this is the case any property investments there will consequently be less valuable. 

gordon estate agency

However, Alistair Elliott told the South China Morning Post that rumours of London's death as a property hotspot have been greatly exaggerated. 

He remarked: “The markets have stood up (to Brexit fear) incredibly well. If you roll back the clock two years, people were giving gloomy forecasts; it hasn’t happened. 

"We have the details of Brexit to come [and] I do not believe it will be as aggressive an experience for London real estate markets as people originally thought.”

Chck out here for more information

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Space-saving hacks to streamline your home

You've found the perfect flat to rent in central London… but three months in and your rental home is looking more like a car boot sale than the cool, contemporary space you had in mind. We’ve all got loads of stuff, but the trick is to know how to disguise it. Here are some ideas to help you stow those possessions out of sight and return to the clean, minimalist lines you’ve been pining for.

1. Don't dash to declutter

You know you won't do it all in one go, so don't even try. Set aside a specific time each day, or each week, to sort through your possessions. When everything’s finally in place, try to continue with your regular de-cluttering time slot, otherwise the mess will simply build up again.

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2. Decisions, decisions

Decide which room you'll start on, and work from one end to the other, clearing as you go. Use three black bin bags - one for things that you want to keep, one for things that you want to throw away, and another for items you might pass on to friends or donate to

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5 mistakes new tenants make and how to avoid them

You may think you know how to rent but London’s lettings market is fast-paced, competitive and can catch you off guard. Our guide to renting property will help you avoid making basic mistakes, especially if you’re new to renting.

Don’t let lax paperwork let you down

Before you go flat hunting, spend time getting your finances and paperwork in order - that is so that you can make a move as soon as you see a property you like. Some rental applications are delayed or derail because a document wasn’t provided, background checks weren’t passed or the tenant didn’t have enough money. Documents including wage slips, bank statements, utility bills (not mobile phone), photo ID (passport or driving license) should be at hand, and you should have the funds to pay a security deposit and usually one month’s rent in advance. If you need to know the full list of what’s required, message us on Facebook or call the lettings team.

blog- things to avoid

Avoid being scammed

If that flat to rent on Gumtree or Facebook sou

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South London district hints at long-term gains

The district was highlighted by the Daily Telegraph as an attractive proposition as a place to live, in addition to its long-term price growth. According to Knight Frank's data, between January 1995 and September 2017 prices there rose by 1,150 per cent, outstripping the fast-emerging east London hotspots like Hackney.

Such long-term success might not be immediately apparent for a few reasons, only one of which is the high profile of east London emanating from the 2012 Olympics and associated efforts at urban renewal. 

goandco south london

Another factor may be the fact that in recent months, Dulwich has suffered like the rest; Knight Frank's Spring 2017 Residential Review has revealed the district endured a 0.5 per cent dip in prices over the last three months and a 1.5 per cent drop on an annual basis. 

These figures are not unusual, of course. The review showed that only a handful of places, such as Wimbledon and Queen's Park, have seen price growth in the last 12 month, while many have witness lar

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Renting property? Don’t underestimate ‘the tube factor’

London Estate Agent Gordon & Co explore properties to rent or buy for investment in Paddington, Elephant & Castle and London Bridge.

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Living near a tube station means more opportunity to enjoy your leisure time. According to a recent study, when it comes to job and lifestyle satisfaction a 20 minute increase in commuting time is as bad as a 19 per cent pay cut.

To view the full infographic image click here.

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London house prices tipped for shock fall thanks to Brexit

House prices in London could be about to see their first fall since the financial crisis, according to a panel of 30 housing market experts assembled by Reuters.

The survey found a consensus that the impact of Brexit on the housing market would bear down on property investment everywhere, with the mean prediction for average house prices across the country as a whole being an increase of just 1.7 per cent in 2018 - a real terms fall as Consumer Price Index inflation is expected to run at about 2.5 per cent. 

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In London, where high rates of house price inflation in recent years have been fuelled by overseas investors, a decline in buyer numbers will ensure a price drop in absolute terms, with the average prediction being a drop of one per cent this year. However, individual panel members varied widely in their London forecasts from a rise of 2.5 per cent to a plunge of six per cent.

The panel noted that while property in the UK is cheaper for foreign buyers due to the lower value of

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Government plans three-year tenancies

In a speech delivered yesterday (July 2nd), communities secretary James Brokenshire announced a consultation that is likely to have wide-reaching implications within the property market. He declared that the government is looking into the possibility of a three-year minimum for rental leases.

Mr Brokenshire said: "We’re proposing a new longer tenancy model, of a minimum of three years, with a six-month break clause to allow tenants and landlords to exit the agreement early if needed." The idea would be for this to protect renters and give them more stability.

  Credit: Richard Sharrocks via iStock

 

While in theory this would prevent exploitative landlord practices, many have warned that it is a poor solution to this problem. Locking landlords and tenants into a minimum of three years has been described as restrictive, while not actually solving issues like rising rents across the UK.

Check out here to view the complete article.

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UK housing market outperforms in May

The UK housing market has shown an impressive amount of improvement recently, with May seeing more mortgage approvals than expected. This is according to new data from the Bank of England (BoE), which suggests that activity might be perking up again after a relatively slow 2017.

Growth in both purchases and house prices slowed down significantly in 2017, and the first few months of 2018 showed no sign of this trend reversing. However, the latest figures hint that things could be speeding up again, as the number of approved mortgages hit a four-month high.

In total, 64,526 mortgages were approved in May, up from 62,941 in April; an increase of just over 2.5 per cent. Not only is this an impressive boost, it is also a much better performance than expected. A Reuters poll of economists predicted that the market would continue to slow, with mortgage growth slowing to around 62,000 approvals.

Alongside this, the number of approvals for remortgaging also increased, to 50,979 from the 47,2

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Does Lancashire town offer investment alternative to London?

Residential property investors across the UK will often reassess their property portfolios, but it has generally been unlikely that they will have turned their attention much to Burnley. 

For anyone who has been focused on mature markets like central London, the idea of targeting an old Lancashire mill town might seem incongruous. After all, if the north-west is to provide new opportunities, why not focus on Manchester or Liverpool?

Direct Line for Business has provided the answer, revealing that Burnley currently offers the highest annualised rental yield at 7.1 per cent, almost twice the UK average of 3.6 per cent.

The second and third highest yields are in prominent cities, with Glasgow on 6.9 per cent and Belfast on 6.4 per cent. 

Direct Line noted that rental yields are lower in London and many other locations in the south and east of England due to the higher house prices, not least as rent increases have lagged well behind. 

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