For the last few years a lot of work has gone in to finding ways to boost the number of homes in London. This has included things like freeing up land owned by TfL and the office of the Mayor of London so that new building projects can take place. Alongside these there has been a relaxation of the rules dictating the transformation of office space to residential. Continue reading
Demand For Hackney Homes Continues To Grow
For all the changes that affect London, whether past or present, one thing has and shall forever ring true – people want to live and work in the city. This has perhaps never been clearer than here in 2016, as we’ve all seen a time of great change that has done next to nothing to dent the love of the capital and the demand for living space. The current situation in Hackney is the perfect example of this – and displays how we can ensure property owners in the area gain exceptional returns from the situation. Continue reading
A Royal connection
Located in the South-East, Greenwich is one of the four Royal Boroughs in London. In addition to its modern features, the Borough has rich links to the past with bits of history located throughout the area. With all of the fascinating possibilities available, there is something for everyone. Continue reading
A major step in the development of Enfield
Enfield is proving to be a very popular area in London because of the great value for money it offers. There is big demand for homes, both in terms of sales and rentals. This creates an issue due to low supplies, causing prices to rise. The situation could ease a great deal in the coming years though, particularly with the announcement earlier in June that up to 10,000 new homes could be built in the Borough.
The Meridian Water site is very large, covering an impressive 85 hectares. It is strategically placed to offer fantastic accessibility to the City, Canary Wharf, and London airports. The project to develop the site will cost an expected £3.5 billion in total. It will include thousands of new homes, a brand new station and a wide array of facilities for the new neighbourhoods that are created.
Construction on the site is expected to begin in 2017 with phase one. The plan is for the first homes to be ready the following year, along with the completion of the new station and improvements to the infrastructure in the area. Work across the site may continue for up to twenty years after that to complete the project.
Meridian Water is a huge development and will completely transform Enfield in the future. There will be new homes, communities and facilities in the area when everything is completed. Alongside this the construction will stimulate the building industry and further jobs will be created in the future throughout the area.
At Finefair we keep a close eye on developments all across London so we can offer advice and guidance to our clients. The knowledge also helps us to refine our services, ensuring we are capable to meet a wide variety of needs. Whether it is property management or council leasing we have extensive experience and can offer the best support. There could be many opportunities for the latter when the new homes are built and we have an established relationship with Enfield Council already.
Choosing services to protect your investment portfolio
Usually it would be the case that we’d all have a joint groan and a laugh at the fact about how we must be in summer if we’re getting rain in June. Normally this would be a lighthearted look at how it is part of life in London, but sadly the situation this year has been far more serious. The last full week of June 2016 saw the capital get hit with some terrible torrential rainstorms. This has seen many properties in the city be subject to damage from flooding and lightning strikes.
London will, as ever, recover from this damage. Whether the harm inflicted on the city is manmade or from natural causes we always bounce back, better and stronger than we were before and because of what we’ve been through. The property and block management services we comprehensively deliver across all of the London Boroughs plays a big part in making sure this happens.
Whilst pretty much all of London was affected by the storms of June, the Borough of Ealing was hit fairly hard. Commercial and residential properties experienced flooding, the A40 in Perivale had to be closed for safety and, as mentioned earlier, there were a number of incidents of lightning strikes affecting homes. The one positive aspect that we, and we trust everyone else, can take from this is that there were no reported fatalities and very few injuries suffered.
We wish we could say that either our services or one we know of could somehow stop damage being caused in this way. The truth, sadly, is that there’s no way of preventing nature taking its course. What we can do is assure you that our management services work to maintain and repair your building quickly and correctly in the event of damage.
Our professional teams have spent over a decade building up a reputation of being the best. We know that the perfect way to maintain the value of your property investment, whether in Ealing or any of the other London Boroughs, is to make sure the premises are looked after correctly. That’s exactly what we make sure you have in place. Our block management services can even save you money in the process.
Finding the right property in an appropriate area
In order to ensure you get the best returns on your investment you need to choose the right property in an appropriate area. It can take a lot of work but good planning and care will reward you in the long term.
Before you purchase investment properties it is important to have an idea in mind of what you plan in the long term. If you are considering letting the property your big obstacle is ensuring you have tenants for the duration. When the properties stand empty they are not generating an income so you are losing out.
With tenants in mind you should look at areas where demand is high and properties don’t spend long times uninhabited. These are the locations you want to target for your investments because they offer the highest potential for strong, sustained returns.
Another thing to look at before you make a purchase is the rental fees that properties can command. You can get an idea of this by looking at the market conditions and other similar buildings in the same area. It is wise to have a professional conduct a valuation for you so you can determine what kind of returns you can expect and ensure your investment will pay off.
It is always better to invest in types of property that are in the highest demand. Owning a family home in an area that is predominantly apartments may be a bad strategy because the amount of interest it will receive will be lower. This means there is a smaller audience and raises the potential that you may struggle to find tenants.
At Finefair we are committed to offering comprehensive support to clients looking at purchasing investment properties. We work all across Croydon and the Greater London area, delivering personal services to suit the needs of each client. We can help you to decide what kind of property to choose, what areas to target, and the type of income you can expect from it. We also offer lettings services so you can rely on us for the long term.
RICS Residential Property Conference To Address London Housing Shortage
The first week of July will see the annual RICS Residential Property Conference take place. This is an event which would usually attract a great level of interest in itself, but the impact of the events of 2016 so far have made this year’s conference be held with near perfect timing. Whilst there are many current events which will impact the nature of what gets presented at the RICS conference, we will be paying close attention to a factor that remains as a constant – the need to address the lack of supply in the property sector needed to meet rising demand levels.
A key concern being discussed at the conference this year will be the fall in available property across London. Whilst the national picture has reflected a slight rise in available homes, the figure continues to fall in the capital city. One particular area which will come under focus is the City of Westminster. A month-to-month study has shown that the level of available property in this London Borough fell by some 33% in May 2016, with no indication that demand levels shall fall any time soon.
Rather than discuss the shortage of property available, the conference shall concentrate on the ways in which it can be successfully addressed. A presentation and open forum discussion is planned for looking at the ways in which the Private Rented Sector (PRS) can address the gap created by a lack of social housing. As our services build an important link between the PRS and the London Boroughs through services such as council leasing and estate management, we are delighted to see that our pioneering work in the field is getting wider recognition.
City of Westminster property owners are currently in an exceptional position to maximise the financial returns on their investment. With demand being high and supply levels low, significant yield margins are being forecast. Through our services of council leasing and estate management, property owners can access these preferable and assured yield margins in a way that works to suit them best. We provide a high level of return for you with a service that does not make demands of your own time and resources.
The Camden connection
Like many other Boroughs across London, Camden was founded in 1965 and was formed from a handful of former areas. The Borough was named after Charles Pratt, 1st Earl Camden and the town that formerly bore his name. It is considered by many to be the best place to live in London and for good reasons.
Art is a form of expressing yourself and it can breathe life into the community. Street art in particular has grown and grown and this Borough in particular is an area where it is encouraged. Thanks to organisations like Real Art of Street Art and the Camden Markets Group, many buildings and hoardings have been given up in order for artists to express themselves. If you are interested in seeing these fine art pieces there are several tours you can take.
If you are an avid shopper, the Camden Market has a little of something for everyone. Being the fourth-most popular visitor attraction in London, it is bursting with diversity and sells such things as crafts, clothing, bric-a-brac and various fast foods. The street food is some of the very best you will come across with Indian, Chinese, Mexican and Japanese delicacies available to name a few. The diversity isn’t just restricted to the food however. There are over 160 English Heritage blue plaques dedicated to all of the diverse personalities that have lived in Camden over the years.
Many people who have settled here are constantly captivated by its culture. The transport in Camden has excellent links and it is a mere 20 minute walk to Kings Cross St Pancras, meaning easy access to all over the country.
At Finefair we offer flexible services to cater for property owners across Camden. We service we are very proud to offer is property management so that homes in this wonderful area can be maintained to a high standard so they can be enjoyed for many more years to come.
The surprising benefits of living in the City of London
The City of London is a unique place to live. Many people find it surprising how many great attractions there are in the Borough and hold the mistaken belief that the vast majority of people commute to the area rather than living there because of the lack of benefits. It is true that the City is vastly more crowded during working hours but this doesn’t mean the area goes to sleep afterwards. There is actually a lot of art and culture to enjoy, not to mention the cuisine and bars to explore.
One of the best attractions of living in the City is the fact that you are well placed to take advantage of the fantastic transport system. The Borough is served by no less than 12 Underground stations, making it the most connected area in London. This makes it very easy for people to get around and means they can forgo having a car. The central location also means you can choose a bicycle as your mode of transport if you want more flexibility.
Shopping in the City is a surprising experience too. The area is the financial centre of the UK so retail takes a back seat but there are still some really good markets to enjoy. Leadenhall Market is based in a beautiful setting in an enclosed Victorian arcade. The structure is Grade II listed and retains many of the original characteristics. This makes it a great place to visit for people with a passion for design. It is no surprise that it is home to a number of fashion boutiques.
Where the City really excels is dining. The Borough has an incredible range on offer with cuisine from all around the world. The restaurant district is fantastic, catering for the commuters who work in the area as well as the residents. You can enjoy fine dining at any number of places or find hidden gems with unique menus.
At Finefair we have a great knowledge of what it is like to live in the City of London. We offer our flexible property services to the area, working as letting agents as well as handling sales and investment solutions too. Whatever your needs you can rely on us.
A strong statement from the mayor of London
The new mayor of London, Sadiq Khan, exercised his power recently to protect Green Belt land in Bromley. Plans had been submitted that would have seen two blocks of flats and a football stadium built on a site in the Borough. The mayor stepped in to issue the block because of the status of the land and the fact that there was no plan for the homes that were being created to be designated as affordable housing.
The mayor has been in office since May 2016 and has already set out his stance on protecting Green Belt land and supporting the creation of affordable housing. The block on the plans for Bromley show that developments will be under more scrutiny now than they were under the previous administration. During that eight year tenure Boris Johnson only intervened to prevent planning permission on five occasions.
Bromley Council responded to the move by releasing a statement reaffirming its support for protecting Green Belt land. They stated that the plans had been approved because of the special circumstances and pointed to their track record as evidence of their support of conservation.
The block sends a strong message to developers targeting London. They will need to plan very carefully, ensuring they consider the status of the land they own and the impact that plans will have on the wider environment. On top of this they will also have to look close at affordable housing and ensure they are working to satisfy the needs of the market.
At Finefair we have a lot of experience with property investment. It is our aim to offer the best support to all of our clients, whether they own properties in Bromley or one of the other 32 London Boroughs. We are committed to satisfying their needs and offering support and services wherever we can.
