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The October Broadcast


I write this with a tear rolling down my face as England lose to the mighty Aussies (Rugby).  Still, having a Welsh surname surely I am eligible to support Wales now??

There is so much going on at the moment in our industry and if you are a landlord of ours, I hope you have read the recent emails regarding two big pieces of regulation which will affect you being a landlord. I have written my first article as a summary for landlords but if you want more information please do make contact as my teams would love to answer any questions you have.

If you are thinking of investing in property and becoming a landlord then you must speak to us or a fellow expert.  There are new EU laws coming in next year which will make this challenging and I recommend strongly you speak to an expert as you may wish to expedite this process before the new rules come in.  I will be writing more about this in the next edition. 

If you are a tenant, now is the time to check your heating works as I fear GasSafe engineers will be busy when the frost comes so beat the rush!!!

Until November.

Regards
Simon Hughes
MD



Spotlight on Greenwich Borough

There is a great sense of history available in Greenwich and with four famous museums in the area, there is plenty of see and do. The National Maritime Museum, the Queen’s House, the Royal Observatory and the Cutty Sark provide a chance to view the way we used to live while the O2 provides a chance to see the latest stars of entertainment and sport.

The introduction of the Docklands Light Railway in 1999 has made Greenwich a great area for families and professionals, as it vastly improved the commuter routes. The relatively small nature of Greenwich, and rising prices in the area, has made it difficult for many people to find a suitable home in the area but there are still places to buy in Greenwich.

East Greenwich, lying to the East of the park, is an up and coming area which provides value but also close proximity to many of the areas that makes Greenwich such a popular area to live in. Greenwich Market is a must-see attraction for tourists while it also provides residents with the chance to buy a wide range of bespoke and stylish items.

When it comes to average property prices for Greenwich, you should expect to pay around £280,000 for a one bedroom flat, £495,000 for a two bedroom flat and around £620,000 for a two bedroom house. A three bedroom house comes in at around £710,000 and a four bedroom property would come in at around £1.25m. Over the past five years, the average trend for property prices in Greenwich has been well above the UK average, as you would expect for property in a highly desirable area of London.

To view all our properties that are for sale click here

Eltham

Probably best described as being more like a small town that just happens to be located in London, there is a lot to be said for Eltham’s suitability for raising a family. This has impacted on the people that move to the area. There are some attractions locally, there is plenty in the way of local stores and community spirit from shopkeepers and local groups.

There may not be a Tube station in Eltham but it is handy for major roads such as the A2, the A20 and the South Circular. These can be busy at rush-hour though so it may be best to use the train stations at Eltham and Mottingham which provide access to Charing Cross, Cannon Street or even Victoria Station in around 30 minutes.

A number of schools in the local area, such as the St Thomas More Catholic school, the Eltham CofE, the St Mary’s Catholic and Henwick all perform extremely well in disciplines such as Science, Maths and English.

Current property prices for Eltham suggest paying around £325,000 to £365,000 for a one bedroom flat, with many of these being new builds and between £200,000 and £250,000 for a two bedroom flat and between £350,000 and £375,000 for a two bedroom house. Depending on your area, a 3 bedroom property in Eltham can cost between £350,000 and £500,000 while a 4 bedroom property can fetch up to £700,000.

To view all our properties that are for sale click here

Charlton

The A102 may separate Charlton from Greenwich and Blackheath, but while there may not be a geographical distance between these areas, it can seem like they are a world apart. For potential house buyers, this is a great thing because Charlton is more affordable, convenient and functional area that provides so much more for your money than the other areas.

The nearby suburban rail line can take you from Greenwich to London Bridge in under 20 minutes and to Cannon Street in less than half an hour. The A102 to the Blackwell Tunnel and the M11 is in one direction while the A2, the A20 and the M25 can be found in the other direction. This means that commuting from Charlton isn’t a hassle, and you can get around quite easily.

Ofsted have referred to local schools like Sherington, Invicta and Halstow as being outstanding, and there are many other schools which have been referred to as being good or satisfactory, so you will find that there are plenty of educational options.

There may not be the fashionable restaurant options in Charlton that there are in other nearby areas, but if you have the time, you can reach these areas easily. Similarly, the 02 is just a short bus ride away, opening up a world of entertainment. The High Street and local shopping areas offer everything you could need, and the functionality of Charlton is better suited to families than some of the extravagances of other local shopping areas.

Two bedroom flats can cost between £150,000 and £300,000 while one bedroom properties can be around £200,000. Two or three bedroom rooms range from between £250,000 and £475,000 while four or bedroom properties can range between £450,000 and £700,000.

To view all our properties that are for sale click here

Abbey Wood

With over £80m promised to two housing zones in Abbey Wood, this is an area of south London that looks to be on the rise. The area had a bad reputation in the 1970s and 1980s for brutalist architecture but there has been a lot of change and progress since those times. With promises that there will be a high level of “affordable” housing introduced to the area within the next ten years.

Abbey Wood is one of the areas of London that are hotly tipped to feel the benefits of the Crossrail work. When work is concluded by the end of 2018, Abbey Wood will see 12 fast trains an hour, facilitating access to central London in less than half an hour while a journey to Heathrow will take less than an hour. Even at the moment, travel isn’t that bad from Abbey Wood, with frequent trains to London Bridge taking around half an hour.

Abbey Wood has always been an area for local buyers but the Crossrail developments has opened the area up to external buyers. At the moment, Upper Abbey Wood is still undervalued, even though it is an area that appeals to aspirational buyers and families.

All of the primary schools in the area are rated as being “good” or better by Ofsted and there are strongly regarded comprehensive schools in the local area.

The average price for a two bedroom flat or house in Abbey Wood comes in around £250,000 while the average price of a three bedroom house is around £325,000. These prices offer tremendous value but the impending Crossrail work, and the related benefits, means that Abbey Wood could be an area that is set to see house prices area.

To view all our properties that are for sale click here

Thamesmead

Thamesmead is one of the areas of London that has carried a bad reputation for many years. Thamesmead was a harsh and unforgiving area, but the good news that comes from this is that it is currently an area on the rise.

The scope for development and improvement means that this is still an area where you can buy at an affordable price. Thamesmead will be one of the areas that receives a benefit from the Crossrail work and there has been a focus on introducing parks and greenery to move the area away from the grey image of the 1970s.

There are plans for £200 million to be invested in Thamesmead in the next 10 to 15 years, making this the ideal time to invest in property. It is not quite an area for families, but for business professionals and people looking to set up home for many years, it is likely that Thamesmead will undergo further changes and developments in the next few years, which makes it an ideal place to buy if you have time, and you are happy to see your investment prosper.

One bedroom flats are priced at between £150,000 and £180,000 (although some new builds are on the market in excess of £300,000) and two bedroom flats can be found for around £200,000 to £250,000. Three and four bedroom properties in Thamesmead can be found for around £290,000 to £350,000 although there are more and more properties selling at a higher price.

To view all our properties that are for sale click here

Plumstead

Plumstead is an area that is currently affordable to buy and is set to be developed and improved considerably in the years to come. This means that it may not be the best place for families at the moment but if you have an eye on the long-term, buying property in this area could pay off in years to come.

Like a number of areas across the capital, the reason for this improvement lies on the Crossrail. There will be a new Woolwich Crossrail station that is within walking distance for Plumstead residents, and this will provide direct trains to the heart of London for the first time. At the moment, it takes half an hour to get from Plumstead station to Cannon Street but the daily commute will become a lot more palatable in a few years if you can live with the current situation for a short spell.

It would be fair to say that there are not many places to shops or socialise to a good standard in Plumstead but the close proximity of better areas nearby means that you aren’t missing out too much. The potential savings on offer from life in Plumstead more than makes up for the additional cost or time you would need to reach the better areas. There are also plenty of parks and greenery in the local area so if you are looking for areas to exercise in or just relax in, you’ll find that Plumstead has enough to keep you occupied.

There are already some signs of gentrification in Plumstead, the sprawl from nearby Charlton being responsible for this, but there are still opportunities to find good value in the local area.

Around Plumstead Common itself, you can find a three bedrooms Victorian style home for around £300,000. This is much cheaper than what you would pay for a similar property in nearby areas like Greenwich, Deptford or East Dulwich.

To view all our properties that are for sale click here

Woolwich

Just over 10 miles to the south-east of central London, Woolwich is a town with considerable history and a proud narrative during the First World War, where 80,000 people were employed. This means that Woolwich is a name that people revere but in recent times, the area is well known for regeneration. Clearly the employment opportunities that shaped Woolwich are no longer available but the Thames side location is appealing to a wide range of people looking for property in London.

The DLR and Thames Clipper makes it easy to reach Canary Wharf and the city from Woolwich and there are trains taking people to London Bridge and Cannon Street. However, Woolwich will be boosted by the Crossrail project, which will enable journey times to Canary Wharf in less than 10 minutes, Liverpool Street in 14 minutes and to Bond Street in 22 minutes.

When it comes to Ofsted “outstanding” schools, Woolwich has a lot to offer. Cardwell, Heronsgate, Christ Church CofE and St Mary Magdelene CofE are all “outstanding” primary schools while Woolwich Polytechnic and Harris Academy Falconwood are “outstanding” comprehensive schools.

Two local museums, the Royal Artillery and Greenwich Heritage Centre, create a link to the past and the main shopping areas are still of a more traditional nature. There are plenty of places in the south-east of London that have been gentrified but Woolwich still offers a blend of budget stores and brand names that people instantly recognise. There are also open spaces in Woolwich including the Thames Path, Woolwich Common, Maryon Wilson Park and Gilbert’s Pit.

For the average property prices in Woolwich, you should expect to pay around £235,000 for a one bedroom flat, £280,000 for a two bedroom flat and around £291,000 for a two bedroom house. A three bedroom house will set you back around £315,000 and a four bedroom property would cost around £357,000.

To view all our properties that are for sale click here



New Legislation for Landlords

With an increasing population and more people deciding to rent than ever before, the rental market is booming. I have to say I truly love the rental market as it is a thriving and dynamic industry which is always evolving its standards and improving its historic murky bad image.

Tenants are mainly savvy professionals, especially in the areas we operate, and have high expectations and quite rightly so as rents are not cheap these days, so service and great living conditions are paramount for tenants.

However being a landlord is now tougher than ever and keeping up with the huge burden of legislation is really hard unless you are a seasoned professional which is why most of our landlords want us to professionally manage their property. After all, then the risks are generally firmly in our court rather than the landlords.

From 1st October there are two new piece of legislation;
The first being The Smoke and Carbon Monoxide Alarm (England) Regulations 2015. It is law that every rented property must have a smoke alarm on every level of the building and a Carbon Monoxide detector in any room that contains a solid fuel appliance which includes coal or wood burning fires and wood burning stoves. The penalty for non-compliance can be as much as £5000.

The second is part of the Deregulation Act. This piece of legislation is all about issuing a Section 21 notice to remove a tenant. In a nutshell, when maintenance requests are received they need to be dealt with in a certain way. If they are not then you will be unable to remove the tenant for at least 6 months.

Obviously these are both more extensive and being professionals in this field, and ARLA regulated, we really do understand legislation and how to mediate well between landlord and tenant.

It is likely that there could be some more legislation with Immigration checks potentially being placed on landlords shoulders and the likely penalty for non-compliance here could be criminal so if you are a landlord and want some free advice on any matter then we are happy to assist.



Be inspired by these easily achievable changes that can TRANSFORM your dining room

Bearing in mind your dining room is going to be primarily used for entertaining, it should be one of the most inviting areas of the home. All it takes are a few little tweaks to get your dining room up to scratch, whether it's freshening it up with new upholstery or injecting some personality with a feature wall of framed photographs or prints.

You can afford to be a little more daring in a dining room, so liven it up with some bold patterned or brightly coloured fabric, whether it's reupholsterig your dining chair, adding some luxurious curtains or a simple patterned tablecloth. Try coordinating it with accessories in an accent colour to complete the look.

While storage is key, you don't want bulky pieces of furniture disrupting the flow of the room so try going for wall-hung shelving. It's an opportunity to show off collectables, fine china and vintage pieces, which will give the room a bit of character. If you're dining area is in an open-plan space, a room divider in the form of a floor-to-ceiling bookshelf will help create a sense of initmacy while also providing a space to decoratively display books and objects.

Think about the mood you want to create in your dining room — simply choosing an uplifting or flattering paint colour can transform a dining room. While deep, rich colours are best if the room is being used mainly for evening meals, a bright and cheerful yellow or apple green could make the room an inviting space during the daytime.

Choose a vibrant fabric for soft furnishings such as a Roman blind and matching seat covers to instantly uplift your dining room

Get more inspiration by clicking here



First Time Buyer house prices outpace rest of market

This continues the stable positive trajectory in UK house prices that we have seen over the last twelve months.

The number of new buyers registering has risen 1.7% in the last month and 10% annually as the summer market draws to a close and buyers return from holiday. Meanwhile, the supply of properties has contracted with the number of new homes for sale down 3.6% on the month and down 14.7% on last year. This has resulted in over twelve buyers chasing every property to come onto the market, the highest ratio in 17 months.

First-time buyer house prices are rising at a faster pace than the rest of the market, up 9.9% annually with a monthly increase of 0.9%. The average price of a starter home now sits at £169,259.

The number of new first-time buyers is up 8.5% on last August while there has been a 1.2% rise in registrations month on month. First-time buyers made up 41.6% of all mortgages written in August, down from 45.9% a year earlier but up 0.3% on the previous month. The average first-time buyer deposit has risen significantly in the last month, up 7.0% to reach £34,472.

Article courtesy of Property Reporter



Leeds launches it lowest-ever 2-year fixed rate

It is priced at 1.45 per cent and is available up to 60 per cent LTV for house purchase applications only. It has a £999 fee.

The product, which is available until 16 October, comes with a free valuation up to £560.

Leeds director of business development Martin Richardson says: “This is an outstanding offer that allows customers to guarantee low payments for two years, and benefit from the peace of mind this delivers.

“We are confident that certainty at an affordable rate will be very popular. There is a strictly limited tranche, and will be withdrawn no later than Friday 16 October 2015.”

Are you looking for mortgage advice? Click here to view more rates and if you want a free consultation from an Independent Mortgage Adviser then complete the form on this site or speak with a member of the team at Conran Financial



Apartment for sale: Tarves Way, Greenwich, SE10 £365,000

  • Large Bedroom With Fitted Wardrobes
  • Modern Bathroom Suite Benefiting From Fitted Shower
  • Spacious Lounge Diner
  • Open Plan Fitted Kitchen Including Integrated Appliances (includes dishwasher, fridge freezer, cooker and washing machine)
  • Private Balcony Offering Stunning Views Of Canary Wharf, The Shard & Cutty Sark Ship
  • Two Storage Cupboards
  • Wood Flooring
  • Video Entry Phone
  • Double Glazed Windows
  • Property is leasehold.

    Lease Details: 116 years remaining
    Service Charges: £900 per annum
    Ground Rent: £150 per annum
    Council Tax: Greenwich Band B

For more information and photos of this property please click here or call the office on 020 8312 8312 to arrange an appointment to view. 




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