Housing Policy Proposals From Camden Council

Camden Council have announced the housing strategy for 2011-2016 and are interested in the Views of Camden Residents. To assess and plan for the current and future housing needs of Camden residents, the council have agreed th following;

• make the best use of existing housing in the borough,
• increase the supply of new housing where possible,
• deliver housing support services to those most in need,
• effectively manage our neighbourhoods and housing environments.

You can fill in the questionnaire for Camden’s housing strategy 2011-2016 online.

Bonuses 'Will Not' Have Significant Affect on Property Market

Bonuses 'Will Not' Have Significant Affect on Property Market reports Ipin.

London banker's bonuses are not expected to have as great an influence on the UK property market as first believed, it has been suggested. Leading property portal Sourcing Property remains unconvinced about the impact that this years' bonuses will have.

The firm explained that the biggest bonuses tended only to be reserved for the company's top performers, rather than the organisations as a whole.

In addition, Jo Eccles, director of Sourcing Property, said that the fact that bonuses are not paid in 100 per cent cash will also prevent some from investing.

"What is most likely to affect the spring market is the introduction of the five per cent stamp duty on purchases over GBP 1 million which comes into force on April 6th this year. This is likely to lead to heightened activity at the top end of the market in the run up to April 6th," she added.

Ms Eccles added that inflation concerns are also having an impact on the market, with a number of individuals keen to invest in property rather than have their cash sitting in the bank eroding in value.

London House Prices Unlikely to Fall

A slump in London house prices is "very, very unlikely" this year, according to Assetz.Stuart Law, chief executive of the property investment advice firm, commented that 2011 is not set to see volatility in the housing market.

"All we are going to see is a mixed period which is not particularly going up or down. The lack of housing here in the UK will continue to support pricing as will rising rents, pushing people towards purchasing instead of renting," he claimed.

However, first time property buyers will not see their conditions improve dramatically this year.

"We don't expect any large improvements in first time buyer mortgages this year. There should be an improvement, but it won't be a large improvement," added Mr Law.
His comments come after the Fathom/Zoopla Auction Price Index forecast a double-digit fall in house prices in the coming 12 months when it was published earlier this month.

London House Price News

Commercial Property Development in East London

London Commercial Property for Sale

Lea Bridge Road
London
Greater London
E5

NIA: 1744 sq/ft*

£ 200,000 Leasehold

Prominently situated fronting onto Lea Bridge Road a short distance from the Clapton Roundabout junction with Lower Clapton Road and Upper Clapton Road.

The building is adjacent to North Millfields Recreation Ground and within close proximityto Hackney Central and other local facilities giving good access to the A12, A406 NorthCircular Road and M11. Clapton Station (services from Chingford, Walthamstow to Liverpool Street)is within easy walking distance.

Forming part of a new mixed use development with the commercial accommodation arranged over lower ground and ground floors.Both floors will provide flexible open plan accommodation.To the rear of the ground floor there will be break out space and external storage.

The building has D1 (Nursery/Creche) use although could be available for a number of alternative uses within this category and others subject to obtaining the relevant planning consent.The site is currently under construction and will be completed in October 2011.

Property Development For Sale London

Mortgage Rate & Home Loan News: UK mortgage lending 'fell to lowest level since 2000'

UK mortgage lending fell six per cent between November and December 2010, research from the Council of Mortgage Lenders (CML) shows.

Yearly lending dropped by 18 per cent from December 2009 to last month, but economists believe this is due to the rush on house purchasing before the stamp duty holiday came to an end on January 1st 2010.

More UK mortgage offers were made throughout the whole of last year than were originally forecast by the CML, with total lending standing at £136.3 billion, up from the £135 billion predicted.

However, this is five per cent below the £143.3 billion reported in 2009 and is the lowest annual total since 2000.

CML economist Peter Charles commented: "Money market rates have recently moved higher in anticipation of a rise in base rate and some lenders have recently reflected these increases in their product pricing. Against this backdrop, consumer demand may be weaker than we would otherwise have expected."

He noted that higher interest rates have hit the budgets of homeowners who are still paying off their UK mortgage debt, although this will result in "a relatively small proportionate rise" in monthly repayments for most householders.

This month, the Bank of England voted to maintain the current base rate at 0.5 per cent.

Mortgage Rate & Home Loan News

London Property News: Landlords 'need protecting from unscrupulous tenants'

Those with landlord licences living in areas with low levels of demand could consider reducing their rental rate, LettingZone has suggested.

This is the advice from Mark Garner, founder of the organisation, who responded to research from the Association of Residential Letting Agents (ARLA).

ARLA's study found there is an increasing number of tenants who are finding it difficult to meet rent agreements, although this was not seen so much for property to rent in London.

Mr Garner offered landlords some advice to ensure they are not struggling to pay the mortgage after a tenant defaults on the rent.

"Always do a full credit check before you take a tenant and I suggest you take out a rent guarantee insurance product before they move in which will cover you if your tenant stops paying their rent," he said.

Meanwhile, research from Upad has found that 63 per cent of residential landlords are more confident this month than they were in December 2010.

Residential Landlords News

London Housing Market Stabilised at the end of 2010

London property reports may be showing mixed reviews at the moment, but there are indications that the level of completed house sales stabilised at the end of last year.

According to the latest Royal Institution of Chartered Surveyors' UK Housing Market survey, the number of sales completed by each surveyor stood at an average of 15.2 in the three months to December 2010, compared with 14.8 for the previous quarter.

However, some buyers were affected by the inclement weather towards the end of the year, while the lack of UK mortgage funding options remained a problem for some.
Robert Lazarus, director of residential sales at Paramount, said the outlook was not all bad for the housing market.

"So far this year we've seen that people are able to get mortgages in principle, but there have also been around 30 per cent of our buyers with cash funds purchasing property in the area," he pointed out.

"It is impossible to say what will happen over the next few months with mortgage lending but so far at Paramount we have had a successful January," he added.

London Property Market News

First Time Property Buyers News: New mortgage loan scheme 'will add debt'

First time property buyers are likely to welcome a new scheme that allows their families to help them onto the housing ladder, but parents will be less pleased, Ducalian has stated.

Timothy Lambert, head of consulting at the organisation, commented: "With mortgages going to increase when interest rates rise, we may find once again that people have bitten off more than they can chew in order to own a home. The only difference this time is that the parents will have to bail out their children on the loan."

He noted that if they pay interest only on a mortgage, people "may as well rent as prices are not going to rocket up any time soon".

However, if http://www.paramount-properties.co.uk/content/Buy/Getting_Organised/ decide to apply for the new scheme, they still need to save and remember that "property is not a licence to print money in all circumstances".

Mr Lambert's comments come after Barratt and Hitachi Capital teamed up to launch an unsecured personal loan of up to £50,000 for parents helping to put down a deposit on their offspring's first home.

First Time Property Buyers News

Brondesbury Studio Flat For Sale

Christchurch Avenue, Brondesbury, London, NW6

1 Reception Room
1 Bathroom

A rare studio flat with a large private garden. The property offers a 18ft studio room which has doors leading onto the garden, kitchen with a full range of wall and base units and a bathroom comprising a white three piece suite. The flat is set on the ground floor of a large detached property set on one of Brondesbury most popular tree lined streets. Situated within minutes walk of Kilburn Jubilee Line station.
The property is being offered with a long lease and no upper chain.

Brondesbury Flat for Sale

Finchley Road Refurbished Property For Sale

NW2 Apartment for Sale Leasehold: £425,000

2 Bedrooms
1 Reception Room
1 Bathroom

A 3rd floor large two double bedroom apartment within this well established tudor style block on the borders of West Hampstead, Childs Hill and Hampstead.

The accommodation comprises a large and bright reception/dining room, a modern wood style fitted kitchen/breakfast room a modern three piece white bathroom suite with an additional guest cloakroom and two excellent double bedrooms.

The flat has been the subject of considerable refurbishment to include wood flooring, gas central heating and bathroom replacement. In addition the block benefits from a passenger lift and tended communal gardens. Call today to arrange an immediate viewing.

Wendover Court, Finchley Road, London, NW2

Central London Congestion Charge Changes

The Western Extension was removed from the charging zone on 4 January 2011. You don't have to pay the charge if you drive in this area Transport for London announced.

There is no charge for driving on the boundary roads around the zone, and the hours of operation aren't changing.

If you live in Kensington, Notting Hill, Chelsea, Bayswater and Pimlico which were in the Western Extension Zone you can't get the residents' discount anymore. You'll need to pay the full daily charge if you wish to drive within the congestion charging zone, during charging hours.

London Housing Market Slows

London house prices, as well as those in other parts of the country, are undergoing a "shallow correction" but mostly the property market is slowing down, an expert has stated.

Dr Colin Lizieri, professor of real estate finance at the University of Cambridge, commented: "Because of inertia in the housing market and because individuals with houses who don't have to sell simply don't put them on the market, what we are seeing is a much more shallow correction of house prices from their very high levels and rather a slowing up and stagnation of the market."

As a result of this, there is a reduced level of sales, less demand of UK mortgage lending and much less movement in the market, "which has to be bad for the economy as a whole", he explained.

On the upside, commercial property in London and other UK towns has seen a "very substantial" correction in prices, which has resulted in a "more sensible" pricing level, Prof Lizieri added.

London House Price News

Central Hendon House for Sale

Endersleigh Gardens, Hendon, London, NW4 £429,950

3 Bedroom
2 Reception Room
1 Bathroom

A well proportioned three bedroom semi-detached house features period charm and a secluded rear garden. Arranged over two floors the property comprises bay-fronted first reception room/study with wood beams, second reception room with fireplace and access to garden, 24' fitted kitchen/dining room, master bedroom with fitted wardrobes, two additional bedrooms, bathroom, separate WC, ample storage and off-street parking.

Endersleigh Gardens is located on a peaceful private driveway moments from the transport links of M1 and A41. The green open space of Hendon Park is nearby as is the local amenities of Brent Street and Church Road. Hendon Central Underground Station (Northern Line) and Hendon Station (National Rail) are close for links into the City.

NW4 Property for Sale, Hendon

Penthouse Apartment For Sale, Mapesbury London

Mapesbury, Newly Built Penthouse for Sale

2 Bedrooms
1 Reception Room
1 Bathroom

A recently built two bedroom penthouse apartment, set on the top floor of a purpose built block. The block is situated within easy walking distance of Willesden Green and Kilburn Jubilee Line Stations and Salusbury Road with its delis, restaurants and cafes. The property offers a bright reception room with wooden flooring and doors leading to a Private west facing balcony, modern fitted kitchen with a full range of fitted appliances, bright master bedroom, second double bedroom and a bathroom comprising of a contemporary white three piece suite. Further benefits include a lift, private balcony, communal gardens, off street parking and 120 year lease.

Mapesbury Property for Sale