UK Property Market

Not Happy in the UK – Try Potsdam

For years the traditional UK property market has been among the top scorers in Europe – rich people from all around Europe would rather pick up a British house in the province around London rather than anywhere else in Europe. In the beginning of the current century, the UK market was scoring better than even Switzerland because of the ease to shop for EU citizens. However, recent economic climate changes have influenced the market and the property in the UK is now scoring less than other newly established destinations in Europe – such as the German town of Potsdam where currently the town people enjoy extremely huge demand for property in the area.

Partly because of the economic boom in Germany and partly because of the newly discovered property opportunities in the town, this area of Germany is now happy to be the most advanced market after the major Berlin, Munich and Frankfurt ones. Many British people are now advancing on bidding for properties in the area – quite expensive but worth paying for. The demand is so extended that even commercial cleaning Surrey companies might want to establish branches in the area.

Another great feature of the market is that any rich person who buys property in the area would receive a tax relief simply because he contributes to the establishment of the area as the European ’Newport'- a destination for the rich, educated and well managed people. And even though the UK market remains a solid property destination for people outside Europe, the Potsdam opportunities are coming to a significant progress.

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Most Expensive Property in UK : The South West side of London…

Most Expensive Property in UK

The South West side of London is the most expensive area of Britain where the average price of a property is more than 500 million pounds. Next comes Merton near Wimbledon All England Tennis Club. It’s also the most expensive residential area where prices range between 4000-5000 pounds .The second most expensive streets in UK are in Wycombe Square and the Royal Borough of Kensington and Chelsea. These areas also have the best schools and restaurants. Next to these two, the remaining five are also in Kensington and Blenheim Crescent where the average price is 4, 345,000 pounds. It is no wonder that London builders rake in millions. Woodlands Road West and Burkes Road in Beaconsfield are the two areas outside the capital that have made it to top 20.

The majority of the country’s most expensive streets are within London City and Home Counties, other streets all over UK also command a high price. Outside UK there is the Withlee Road in Macclesfield that has houses ranging from1, 000,000 to 1,629,000 pounds. In Surrey, the Woodland Road West in Virginia Water has a price of 2,770,000. In Kent the most expensive street is Philippines Shaw with a price of 2,352,000.

In the West Midlands, the most expensive streets are in Sol hull. These are Alder Brook Road at 850,000 pounds and Temple Road at 798,000 pounds. Yorkshire on the other hand has an area comprising of the golden triangle between Harrogate, Wetherby and Leeds. In Harrogate, the Royal Gardens has prices such as 741,000 pounds. But the most expensive street here is the Scarcroft, with a price of 871,000 pounds. The only addresses in London that feature in the top 20 and are outside the golden triangle are located in Northern suburbs. In Hampstead Lane alone, properties fetched 3.7 million pounds and those in Springfield road, fetched 2.7 million pounds.

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2011 promises a great future for Landlords in UK : Belvoir, the…

2011 promises a great future for Landlords in UK

Belvoir, the biggest letting agents in UK have predicted an active growth for residential property rentals in 2011. It also foresees favorable conditions for those interested in long term investments. Many prospective homeowners are facing lending barriers like tight mortgage, relocations related to jobs and uncertainties. Many cities are facing the greater demand from tenants which exceeds supply. Many consumers now want to buy rather than rent property. At the same time consumers feel the pinch and are concerned about the impact of reductions and present recession, and would rather wait before going ahead with long term purchases.

According to the Association of Residential Lettings Agents, countrywide demand for rental property has reached an 8^th year high. There are thousands of public sector job cuts planned for 2011. This will help families from lower income groups with benefit reductions and they will be less inclined towards mortgage. It is also predicted that such favorable market conditions along with falling property prices will offer a big boost to the residential property market and give the best opportunities to landlords. Renting sectors will continue to grow and rents may increase by 5-10%.

Now people will be more comfortable changing jobs. For anyone considering making a long term investment, in the residential property market in terms of buying or renting, the agents will provide them free advice about long and short term investments.

According to a survey, Bristol has the busiest property market in UK today and the highest number of property transactions. It is believed to be second only to London as far as total sales are concerned. The prices are attractive to buyers and this city offers more quality. However, it does come across as one of the most expensive cities to live, the cost of living is high and essential products like diesel costs higher than say diesel Birmingham.

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Buying residential property in the UK : If you have decided to…

Buying commercial property in the UK

Investors have always looked to buy commercial property in the UK, especially London, which is one of the world’s main financial centres. Commercial property in the UK is divided into the sectors of retail (which includes shopping malls and supermarkets), offices, business parks, industrial estates, leisure outlets, pubs, restaurants, clinics and hospitals.

Although UK property prices in general have fallen greatly since July 2007, the widely held sentiment about commercial property prices is that they are starting their recovery, just like ebay delivery is seeing an upswing. This view has been echoed by leading analysts who specialise in commercial property.

As the British pound also gets weaker in relation to other global currencies, overseas investors find it lucrative to invest in commercial property in the UK. These investors also look at commercial property as a more stable investment compared to other sectors. However, it is always advised for investors to distribute their investment portfolio in different types of commercial property, so as to mitigate risk.

Once investors have decided which commercial property to buy in the UK, they have to follow certain procedures before they can be handed over the property. These procedures include paying valuation fees, survey fees, legal fees (including Value Added Tax), registration costs in the UK Land Registry and the stamp duty land tax.

Once the commercial property has been bought and is put to let, it is important to arrange its management. Usually, managing agents are employed by investors to collect rents from the tenants and take care of any other issues that may occur.

In conclusion, buying commercial property in the UK is a risk which many global investors are willing to take, despite the economic slowdown in the economy. An investor who researches the market thoroughly can still make significant gains by investing in the right portfolio of UK commercial properties.

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Buying residential property in the UK : If you have decided to…

Buying a home in Manchester, UK

Manchester is one of the most important cities in the UK. It is located in the north western part of the country. It has a population of about 480,000 people. Many people are buying homes in Manchester, as next to London, it has got a significant number of job opportunities for people to work. Manchester also attracts a large number of tourists as it famous for its football clubs (Manchester United and Manchester City) and shopping centres.

The popular and safe neighbourhoods to live in Manchester are Didsbury, Crumpsall, Fallowfield, Withington, Chorlton and the city centre. Most Mancunians (people from Manchester) recommend Didsbury as it is a good middle class neighbourhood. One could compare it to good Austin TX neighborhoods. There are also houses available in plenty in the Greater Manchester area, which are the suburbs of the city. They are well connected to the Manchester city centre by local trains.

For professionals, the ideal places to buy or rent a house in Manchester are areas near the “Conference Quarter”, where most of the offices in the city are located.

Manchester house prices also increased by roughly 1.5% in 2009-10, so even if you are buying a home there with an idea to resell, it makes for a good deal. However, before short listing a home to buy in Manchester, make sure that you have done enough research on similar homes in the locality so that you do not end up paying more for the home. It is also important that the purpose of buying your home in Manchester is clear to you i.e. you should decide whether you want to live in it immediately, or keep it as a second home.

In conclusion, Manchester is a city full of opportunities. Its overall standard of living is also good, and it is its distinctive character which attracts new residents.

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Buying residential property in the UK : If you have decided to…

Buying residential property in the UK

If you have decided to buy residential property in the UK for the first time, it is wise to be aware of the rules and processes involved in finally getting the property in your possession. Usually, decent residential properties start at a minimum price of £100,000 – £200,000.

Apart from the actual price of the house, there are one time payments of Land Registry fees, stamp duty and moving costs. A very important fact to consider when buying residential property in the UK is that the rules are slightly different in England and Wales (which is one entity) and Scotland (a separate entity).

It is also advised to hire a solicitor to take care of the administrative and legal work involved in transferring the house’s ownership from its original owner to you. This is called “conveyancing”. A valuation should also be done of the new property, so that both you and the mortgage company (if any) are clear about the value of the property. You should also check the records of the Land Registry to ascertain whether the property’s value is similar to the other properties of the area.

Fixtures and fitting is another significant item which should be agreed on before the property is bought. It should be made clear whether any additional fittings are required in the property, and whether they are included in the total price of the property.

If it is the case that you have taken out a mortgage to finance the purchase of the residential property, it is prudent to take out a Life Assurance policy as well. This is because mortgages are taken for fairly large amounts of money.

In conclusion, if all steps are followed logically, buying a residential property in the UK, in fact purchasing a property anywhere such as investing in Hua Hin real estate, can be quite a hassle free experience for you.

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