Only the e-mail address has been changed in this snapshot from our history.
Spring 2008 Ashdale newsletter
Greetings, and welcome to Ashdale Estate Agents’ first newsletter, following the launch of our
smart
new office in Bromley. At the beginning of each season we will keep you
up to date with all the latest developments concerning the property
market and an honest view from agents on the ground. I appreciate time
in the modern age is invaluable. Our news will be short and informative.
If you have any specific queries, comments or you require advice please
feel free to contact me sam@edwardashdale.com
Mr Sam Samuel MNAEA CRLM - Director
Spring 2008 Ashdale newsletter
Greetings, and welcome to Ashdale Estate Agents’ first newsletter, following the launch of our
smart
new office in Bromley. At the beginning of each season we will keep you
up to date with all the latest developments concerning the property
market and an honest view from agents on the ground. I appreciate time
in the modern age is invaluable. Our news will be short and informative.
If you have any specific queries, comments or you require advice please
feel free to contact me sam@edwardashdale.comMr Sam Samuel MNAEA CRLM - Director
PROPERTY SALES MARKET
We
opened our new office in December 2008). Amidst our opening was of course the
furore surrounding Northern Rock and the ‘credit crunch’. In my opinion
the media seems committed to slowing the property market. Some rumours I
have heard suggest the media is acting as a puppet of the City who use
doom and gloom news to encourage the government to cut interest rates.
There are probably many reasons to bandy around doom and gloom, not least to prevent the imprudent public from spending unscrupulously. The upshot is of course, and an ever developing trend in the South East, a huge shortage of land and property.
The spiraling social trend over decades of years gone by where the City expands further year on year is not one likely to be reversed.
This coupled with global population growth should stabilize property prices in the future. No one will argue against the speed in growth of property being unsustainable over the last five years. With this hype comes the dishonorable Estate Agent who would over value the property by 10% to 15% just to win your instruction, further inflating the market. What we are witnessing now is a correction and stabilization in property prices. Land continues to be developed and new properties likewise are sold. The market remains favourable to buyers as some vendors circumstances force them to move.
There are probably many reasons to bandy around doom and gloom, not least to prevent the imprudent public from spending unscrupulously. The upshot is of course, and an ever developing trend in the South East, a huge shortage of land and property.
The spiraling social trend over decades of years gone by where the City expands further year on year is not one likely to be reversed.
This coupled with global population growth should stabilize property prices in the future. No one will argue against the speed in growth of property being unsustainable over the last five years. With this hype comes the dishonorable Estate Agent who would over value the property by 10% to 15% just to win your instruction, further inflating the market. What we are witnessing now is a correction and stabilization in property prices. Land continues to be developed and new properties likewise are sold. The market remains favourable to buyers as some vendors circumstances force them to move.
PROPERTY LETTING MARKET
I was involved in lettings prior to the ‘buy-to-let boom’ in the late 90’s, early millennium, 
around
to see the over supply after the boom and now witness rent levels at an
all time peak buoyed by demand. Employment levels in the City are
stable and international banks are seconding people back to work here.
All of which are making for a steady lettings market.
The problem has turned full circle back to the climate 10 yrs ago when there was a huge shortage of property to let. Particularly 1 bed flats, where 5 years ago we could rent them comfortably for £650pcm, we can now let the same property for £725pcm.
At the turn of the New Year we saw a huge demand for larger executive and country style properties from various organizations, this has subsided now but usually demand in this area is seasonal and I expect come the summer for demand levels to rise again. Rents across the board have risen by 10% to 15%, do not forget to take into account rising levels of inflation! Buying property to let can still yield profits in the long term and are still safer than a pension in my opinion.
A little relief for Landlords should arrive on the 6th April 2008 in Capital Gains tax currently at 40%, with the Government committed to reducing this to 18% through the removal of indexation allowance and taper relief. This should also simplify the complicated mechanism that surrounds Capital Gains Tax.
It is nearly a year since the introduction of the legal requirement to register tenant’s deposits. Seemingly the scheme can be applauded by all parties as it has prevented a lot of improper Landlords from mistreating tenant’s deposits and likewise tenants that cause damage beyond wear and tear.
A heads up for Landlords this year is the introduction of Energy Performance Certificate’s from October for all properties on the market to let. If you do not get an EPC you will not be able to proceed with letting the property. Whilst we may lament now, this could ultimately be better for all as it should minimize the level of maintenance required to a property. The Energy Performance Certificate will be valid for a period of 10 years.
PROPERTY OVERSEASAshdale Estate Agents’ focus in the property market is sales and
lettings
within our core catchment of BR postcodes. I have however teamed up
with an extremely reliable client who resides in Spain and who
specializes in the property business there. Colin Ovenden of CASAS-4-YOU
has contributed some news on the market abroad. Casas-4-You are able to
offer high quality advice if you are looking to purchase property in
Spain. Most of his contacts are in the quieter village areas where you
are more likely to find a deal and what CASAS-4-You provide is a
personal one on one service second to none, so any fears you may have
can be quickly allayed.
Spain still a great choice for long term investment
The boom is officially over! The dramatic price rises seen in the last 5 years have given way to much lower year on year price increases in both new & resale property throughout Spain.
The Spanish market now represents perhaps the best “value for money” for the longer term investor. Short term investment now seems to focus on the Balkan areas or South America (Brazil in particular). Whilst these may seem attractive, they nearly all suffer from the same combination of risk factors. Namely instability both economic and political, and a lack of infrastructure to support essential services such as Health, Education, and Transportation.
Not so with Spain, the political and economic climate is sound, and the investment in key support services, is second to none in Europe. So if an overseas investment, holiday home, or even relocation is what you are looking for then look no further. Fabulous climate , lower cost of living, lower property costs, and a choice of lifestyles to suit all - what more could you want?
We hold information within our office at 56 Beckenham Lane, on properties and the regions of Spain covered in our office. Feel free to pop in for a coffee to discuss further or alternatively contact Colin direct at info@casas-4-you.com
If you are interested in contributing to our next newsletter please contact Sam at the office 0208 466 8445 or e-mail sam@edwardashdale.com
around
to see the over supply after the boom and now witness rent levels at an
all time peak buoyed by demand. Employment levels in the City are
stable and international banks are seconding people back to work here.
All of which are making for a steady lettings market.The problem has turned full circle back to the climate 10 yrs ago when there was a huge shortage of property to let. Particularly 1 bed flats, where 5 years ago we could rent them comfortably for £650pcm, we can now let the same property for £725pcm.
At the turn of the New Year we saw a huge demand for larger executive and country style properties from various organizations, this has subsided now but usually demand in this area is seasonal and I expect come the summer for demand levels to rise again. Rents across the board have risen by 10% to 15%, do not forget to take into account rising levels of inflation! Buying property to let can still yield profits in the long term and are still safer than a pension in my opinion.
A little relief for Landlords should arrive on the 6th April 2008 in Capital Gains tax currently at 40%, with the Government committed to reducing this to 18% through the removal of indexation allowance and taper relief. This should also simplify the complicated mechanism that surrounds Capital Gains Tax.
It is nearly a year since the introduction of the legal requirement to register tenant’s deposits. Seemingly the scheme can be applauded by all parties as it has prevented a lot of improper Landlords from mistreating tenant’s deposits and likewise tenants that cause damage beyond wear and tear.
A heads up for Landlords this year is the introduction of Energy Performance Certificate’s from October for all properties on the market to let. If you do not get an EPC you will not be able to proceed with letting the property. Whilst we may lament now, this could ultimately be better for all as it should minimize the level of maintenance required to a property. The Energy Performance Certificate will be valid for a period of 10 years.
PROPERTY OVERSEASAshdale Estate Agents’ focus in the property market is sales and
lettings
within our core catchment of BR postcodes. I have however teamed up
with an extremely reliable client who resides in Spain and who
specializes in the property business there. Colin Ovenden of CASAS-4-YOU
has contributed some news on the market abroad. Casas-4-You are able to
offer high quality advice if you are looking to purchase property in
Spain. Most of his contacts are in the quieter village areas where you
are more likely to find a deal and what CASAS-4-You provide is a
personal one on one service second to none, so any fears you may have
can be quickly allayed.Spain still a great choice for long term investment
The boom is officially over! The dramatic price rises seen in the last 5 years have given way to much lower year on year price increases in both new & resale property throughout Spain.
The Spanish market now represents perhaps the best “value for money” for the longer term investor. Short term investment now seems to focus on the Balkan areas or South America (Brazil in particular). Whilst these may seem attractive, they nearly all suffer from the same combination of risk factors. Namely instability both economic and political, and a lack of infrastructure to support essential services such as Health, Education, and Transportation.
Not so with Spain, the political and economic climate is sound, and the investment in key support services, is second to none in Europe. So if an overseas investment, holiday home, or even relocation is what you are looking for then look no further. Fabulous climate , lower cost of living, lower property costs, and a choice of lifestyles to suit all - what more could you want?
We hold information within our office at 56 Beckenham Lane, on properties and the regions of Spain covered in our office. Feel free to pop in for a coffee to discuss further or alternatively contact Colin direct at info@casas-4-you.com
If you are interested in contributing to our next newsletter please contact Sam at the office 0208 466 8445 or e-mail sam@edwardashdale.com
No comments:
Post a Comment