Haydar Sehri's blog

Haydar Sehri's blog

Rental Trends

 

 

Well, if you’re a landlord outside London, it’s good news according to Sam Mitchell of Rightmove. Rental prices in the UK have seen an average rise of 2.8% in quarter 2 (April-June) this year. London has not fared so well with a modest fall of -0.2%.

 

The annual picture doesn’t offer a much better outlook with rent decreasing in London by -3.2% over the past year as opposed to a 1.9% increase across the UK.

 

How much is your property really worth?

As much as you love your home, it’s time to move so you have an estate agent over to value your property. They come in, tell you how lovely it is and much to your surprise value it for a hefty chunk over what you expected for it. You’re delighted. A few months later after agreeing to their high fees and you still haven’t sold with the few viewings you have only generating one offer for well below asking price.  What has happened to that hefty chunk the estate agent promised and why won’t they let you leave your contract to go with another agent that has buyers waiting?

 

Carbon Monoxide: The Silent Killer

In the right hands, gas is safe, however if things go wrong gas appliances can cause gas leaks, fires, explosions and carbon monoxide (CO) poisoning.

Carbon monoxide is a highly poisonous substance produced by the incomplete burning of carbon-based products, such as natural gas and liquid petroleum gas (LPG). This happens when a gas appliance has been incorrectly fitted, badly repaired or poorly maintained. It can also occur if flues, chimneys or vents are blocked.

Dalston Property Market News

 

Prices in Dalston could be up by as much as £126,000 by 2020

Dalston has shown its mettle in the last few years and remains a particularly buoyant and robust part of the UK property market. In the aftermath of the credit crunch, some parts of the UK saw prices fall by as much as 8% (2007 vs 2009), but here in E8, prices held steady and have risen consistently since 2000.

Rogue Landlords

It’s getting harder by the year to be a bad landlord and rightly so. From the day of Charles Dickens and the age of reform where landlords could get away with murder (quite literally) to today where increasing regulation helps weed out the worst of us.

 

The most recent tool against rogue landlords and agents is from the Housing and Planning Act 2016, in particular, rent repayment orders.   As with most punitive action this hits landlords where it hurts; in the pocket.  A landlord may be forced to repay up to a year’s worth of rent to tenants if they:

 

ARLA: WHAT ARE THE MAIN TAX CONSIDERATIONS FOR LANDLORDS?

The Government has hit landlords hard over the past 12 months with changes to the tax they pay and can claim back. Here we outline the tax rules which landlords need to consider.

Stamp Duty Land Tax (SDLT)

From 1 April 2016 anyone purchasing an additional residential property (that is not their only or main residence) for £40,000 or more must pay an extra three per cent stamp duty above the current Stamp Duty Land Tax (SDLT) residential rates.

ARLA: THE KEY TO TACKLING HOME IDENTITY FRAUD

Home identity scams are becoming more frequently reported in the mainstream media, with multiple prominent cases recently coming to light.

In a recent high profile property fraud case, Laylah De Cruz and her mother, Dianne Moorcroft, duped property professionals into a fraudulent application for a £1.2 million bridging loan on a vacant home in Kensington.

On 16 January, both were found guilty of conspiracy to commit fraud by Southwark Crown Court and are currently awaiting sentencing.

Rental Outcast for 2017

Rightmove has released its latest analysis of the 2016 rental market and what they expect in 2017 to look like.

 

In 2016, outside of London recorded rental increases of 3% with inner London seeing a 5.2% drop in asking prices and outer London seeing a more modest 2.5% decrease in asking prices. The decrease in London was due to more availability of stock as around 32% more properties came onto the market when landlords rushed to beat the stamp duty hikes that came into force in April.

 

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