Taylor Wimpey has launched an informative new video guide explaining the recently launched 95 per cent mortgage scheme, NewBuy. The Government and housebuilder-backed initiative has been hailed as a great boost for the industry and is being offered by a number of the major mortgage lenders. NewBuy is available on brand-new properties up to £500,000 and means that credit-worthy first time buyers may now only need to save a five per cent deposit before they can get on the property ladder. Home movers with limited equity in their existing house will also benefit from the increase in … [Read more...]
Citylets Wins Best UK Niche Portal at Propertydrum B2B Awards
May 2, 2012 By 1 Comment
We’re delighted to say Citylets.co.uk won best Niche Portal at the PROPERTYdrum B2B Awards in London on Tuesday. The ceremony showcased the top suppliers to the wider property sector with 17 categories judged by a panel of leading industry figures such as Mark Hayward (CEO NFoPP), Wendy Evans Scott (President NAEA), Ian Potter (Operations Director ARLA) and Alan Collett (President RICS). Commenting on the win, Founder and MD of Citylets Thomas Ashdown said: “We’re obviously delighted to win this award, especially from a judging panel containing a veritable who’s who of industry … [Read more...]
Scottish landlords ‘sitting on £100m deposit time bomb’
April 27, 2012 By Leave a Comment
Scottish landlords ‘sitting on £100m deposit time bomb’ £21.5m to be found among Edinburgh and Glasgow rentals alone Some landlords and agents using deposits as working capital New scheme brings increased administration Tens of thousands of Scottish landlords will need to find a collective £100.9 million to pay to the Government by the end of the year – once the new Tenant Deposit Scheme comes into play in July, according to property firm Lomond Capital. The lettings specialist estimates that around 224,000 rented households could be affected by the new regulations, which … [Read more...]
Citylets.co.uk, the most visited residential lettings site in the UK in March 2012
April 3, 2012 By Leave a Comment
Citylets continued its growth trend recording a 10% uplift in visitor traffic over Q1 2012 compared to 2011 (source: Google Analytics), growth which was reflected to agent enquiries which were up 9% (source: Citylets Internal Data). Offices on site grew a substantial 9% over the quarter, an increase close to the total growth for 2011. Citylets MD Thomas Ashdown commented: “It is re-assuring to see our continued investment being reflected to our figures for the quarter. Citylets has been diversifying its advertising channel base over recent months in response to the fast changing … [Read more...]
Build to rent is ‘next big thing’, says Grainger boss
February 27, 2012 By Leave a Comment
Developers are to be encouraged to build new housing estates where all the properties will be for rent, not sale. The idea, currently being explored by the Government, could mean the introduction of a separate planning class for new-build residential property that will be rented out, and would mark a fundamental shift in the structure of the UK housing market. Institutions and property companies would own, and trade, these ‘build to rent’ developments. Asset management company Schroders believes that this buying and selling activity between profit-chasing corporates would mean … [Read more...]
Renter ‘age fears’ over buying home
February 27, 2012 By Leave a Comment
More than half of renters believe they will be in their 40s before they become home owners, research suggests. Rents soared to an average of £890 a month last year as people struggled to get on the property ladder, but despite the hikes one in four people said long-term renting was not a problem, property website FindaProperty.com found. Just more than half (54%) of those surveyed said buying their own home was "very important" to them, while 52% believe they will be aged in their 40s before home ownership comes within their grasp. Lenders have been expanding their mortgage ranges … [Read more...]
UK landlords feeling the pinch despite rent increases, research shows
February 21, 2012 By Leave a Comment
The latest findings from the BDRC Continental quarterly Landlords Panel research reveals the biggest rise in the number of portfolio landlords making a loss since the Landlords Panel began in 2006. The research shows that in the fourth quarter of 2011, the number of portfolio landlords, that is those with 20 or more properties, who reported making a loss rose from just 1% in the third quarter of 2011, to 8% in the last quarter of the year. At the same time, while portfolio landlords reaped the highest rental yields at 7%, average rental yields for all landlords fell in the fourth quarter … [Read more...]
Strong 2011 results for Citylets
January 26, 2012 By Leave a Comment
Citylets published strong results for 2011 with visitor traffic up 22% on 2010 (source: Google Analytics) representing a full 200% rise on 2007. Enquiries to agents also rose by 21% (source: Citylets internal data). Thomas Ashdown, founder and MD of Citylets said: “We’re delighted to maintain our strong growth trajectory with a 22% rise in traffic in 2011. We operated in broadly the same geographies as 2010 and are confident these results reflect not just a growth in the rental market, but a growth in our market share. Traffic to Citylets is now 3 times what it was just 4 years … [Read more...]
Rental cottages in parts of the Scottish Highlands proving popular
January 24, 2012 By Leave a Comment
The lettings market for residential property in the Elgin and Moray area is booming according to Scotland’s leading independent property consultancy, CKD Galbraith. In the last Quarter of 2011, the firm’s Elgin office doubled the number of rental properties let in comparison to the previous three quarters combined, with the majority of properties being let out by young professionals. ‘Over the past three months we have let out a significant number of properties from our portfolio and are now letting cottages before they are even put on the open market. This has been achieved … [Read more...]
ARLA research suggests demand for UK rental property is slowing
January 23, 2012 By Leave a Comment
An easing in the demand for rental property and a rise in the numbers of tenants struggling to meet their monthly rent payments signals that the rental market may be softening, according to new research published today (Friday 20 January). While demand is still robust there are signs that there are more tenants than properties in some locations, the research from the Association of Residential Letting Agents (ARLA) has found. In the fourth quarter of 2011 just over half, 55%, of ARLA members reported more tenants than properties available. While this indicates that demand is still … [Read more...]
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