Tag Archives: budget
A roof terrace for a helipad is one of the unusual demands from buyers in London
Roof terraces strong enough to take a helicopter’s weight, squash courts in the basement and car galleries to display vehicle collections are among some of the most extravagant home buyer requests in the prime London market. A survey from agents Marsh & Parsons also shows that there have been enquiries from prospective owners and tenants looking for recording studios, panic rooms, staff living quarters and swimming pools or hot tubs. Overall, the most popular property requirements are more traditional. Aside from the usual number of bedrooms, a south facing outdoor space is the most common request in London property searches, closely followed by off street parking and separate home offices or studios. The holy trinity of transport links, shops and London parks show no signs of being toppled as the top three amenities buyers want to be close to, cited by all Marsh & Parsons agents polled. In Kensington, proximity to Hyde Park or Kensington Gardens is closely sought after, while in Barnes the duck pond is the centre of many property searches. After outdoor space, school catchment areas are the next most important amenity to be close to. In terms of interior design, wooden flooring is de rigueur, with almost a third of agents identifying it as the most popular style trend at the moment, just ahead of bi-fold doors. Ikat patterns and prints also remain a popular choice. Wireless speaker systems are currently the most sought after home item. More than a quarter of Marsh & Parsons agents cited integrated AV systems as a must have for top end London purchasers at present, with Sonos systems revealed to be the brand of choice. Other popular features in the luxury market include temperature controlled wine cellars and log burners. ‘No matter what your budget when looking for a new home, there are some fundamentals that are ubiquitous. Being close to shops, parks and tube stations are the ultimate must haves, but many London buyers have to compromise on one or more of these asks, as such optimal locations come with a price tag to match,’ said Peter Rollings, chief executive officer of Marsh & Parsons ‘Some buyers and tenants come to us with very unusual and specific requests, but luckily London’s rich and varied housing stock provides a wealth of choice, and properties to suit even the most particular of tastes from staff quarters to tree lined driveways. But no matter how lavish the requirements are, the chances are that we’ll have fielded a similar enquiry before,’ he added. Continue reading
Scottish residential rents up 3.1% in a year
Year on year residential rents in Scotland increased by 3.1% in June, up from the 2.7% recorded in the previous month, the latest index data shows. This rise takes average rents to a new peak of £549 a month and June’s figure represents the fastest year on year rise since April 2014, according to the buy to let index from lettings agent Your Move. Rents also increased month on month, up 0.8%, which was a slight slowdown from the 1% recorded in May. But in the preceding six months rents were climbing at a rate of only 0.1% per month. The index shows that rents are hitting all-time local records in the parts of Scotland that have traditionally been more affordable to live, where rental prices are usually lower. On an annual basis, rents have risen across all five regions of Scotland and as rent growth accelerates across the country, new price records have been set in the East, Highlands and Islands and the South. Glasgow & Clyde have seen the biggest boost in rents year on year, with typical rental rises up 4.6% since June 2014. Rents in the Highlands and Islands have jumped 4.3% in the past twelve months, taking the average monthly rent to a record high of £563. Similarly, rents in the East and South of Scotland have both reached a new peak following annual rent rises of 4% and 2.1% respectively. In contrast, Edinburgh and the Lothian’s has experienced the smallest yearly increase of only 0.8% but this marks an improvement from negative growth in the year to May 2015. Rents in all five regions of Scotland are also higher month on month. The average monthly rent in the Highlands and Islands has risen at the quickest pace since May, increasing by 2.4%. Compared to the previous month, Edinburgh and the Lothian’s have seen a 1.7% rise in June. This brings the average rent in the area to £604 as it continues to be the most expensive location in Scotland to rent. In Glasgow and Clyde rents are 0.6% higher since May, and the South has witnessed a 0.5% monthly climb in rental prices. The East of Scotland has seen a more modest 0.2% uplift in the month to June 2015, a considerable slowdown. ‘It’s not just the big urban centres of Edinburgh and Glasgow which are coming up against an urgent shortfall of housing. There is strong demand for homes to let the length and breadth of the nation, and that is underpinning this build-up in rental prices,’ said Brian Moran Your Move lettings director. The index also shows that as of June 2015, the average gross yield on a rental property in Scotland stands at 3.8%, on par with the previous month, but down on a year ago when gross yields were 4% in June 2014. Taking into account property price growth and void periods between tenants,… Continue reading
Demand could push up prices in popular parts of Spain
Enquiries from international buyers for property in Spain have reached record breaking levels at a time when prices are still falling but demand could push up values in popular areas. Spanish property portal Kyero, which lists more than 200,000 homes from 3,000 estate agents, said it has had its busiest ever quarter and properties prices from €50,000 to €100,000 are proving most popular. The firm’s latest quarterly report shows that 28% of all enquiries were for properties at €100,000 or less and they are also proving popular with domestic buyers. The report also suggests that prices could start rising because of the demand. Valuations company Tinsa has released data which shows that a total of 35 popular locations have seen price rises between the first quarter of 2014 and the same period in 2015. The previous year saw just four of those areas register price increases. The upward movement indicates that those seeking properties in the €50,000 to €100,000 range might soon have to up their budget in order to get what they are looking for. The Kyero research confirms that Spain's coastal areas are some of its most popular with second home buyers looking for a holiday home with easy access to beaches. Alicante, home of the Costa Blanca, is the most popular province, according to the Kyero report with 31% of all enquiries focusing on that region. Malaga was the second most popular area, accounting for 15% of total enquiries. ‘Spain's beaches offer some fantastic, family friendly holidays and many of those buying here want to own a property within a short walk or drive of at least one beach. Apartments are by far the most popular choice, accounting for 39% of all enquiries during the last quarter, 10% ahead of villa enquiries,’ said Kyero founder Martin Dell. ‘Many families like the idea of owning an apartment that comes with a shared swimming pool that the condominium company maintains. It's less hassle and expense than owning a villa with its own pool,’ he added. The Kyero report also reveals that it is three bedroom properties that command the most interest, with 32% of all enquirers looking for properties of that size. Two bedroom properties came a close second, with 30% of total enquiries. Meanwhile, the Tinsa data shows that overall the average price of new and used homes declined by 1.1% in the first half of 2015 compared to the same period of 2014 but the Mediterranean Coast and Islands standing have performed better. Prices in the Balearic and Canary Islands increased by 4.4% in the first six months of the year, while prices on the Mediterranean Coast increased by 1.8% in the same period. The biggest falls in prices have been seen in cities with declines of up to 3.7%. Since the peak of the market in 2007 average property prices have fallen by 41.8%. The Mediterranean Coast is the area where values have been adjusted most, with an… Continue reading
