Category: UK

UK Buy-To-Let Property Boom

UK buy to let newsSometimes you don’t need to look abroad in order to invest in property. Many UK property investors are snapping up property in their own country to cash in on the buy-to-let boom.

According to the UK’s Council of Mortgage Lenders (CML), a record 1.4 million ‘landlord loans’ are currently invested into property. With poor savings rates, many people are now looking at buy-to-let properties as a way of making money, particularly as rents are close to being at an all-time-high.

Pre-budget report hits UK holiday home owners

Pre-budget report hits UK holiday home ownersThe Chancellor’s Pre-Budget report has hit holiday home owners. UK property investors who rent out their holiday home in the UK will no longer be able to offset the costs of that property against their tax bill.

The new rules look set to be introduced next April and will stop property investors with second homes from being able to write-off their mortgage interest and other maintenance bills as a business loss. Investors will also not quality for capital gains tax (CGT) relief, hitting those who will look to buy a new holiday home from the proceeds of other property sales.

Central London Property Rallies

A new report by Savills Research has shown that central London residential property prices grew for the first time since they starting sliding in September 2007. Over the past three months, property prices in central London rose by 4.3%.

Partly the rise has been fuelled by property investors believing that the housing market is nearing bottoming out and therefore property bargains can be had. There is also a lack of good quality property on the market so when good properties have a For Sale sign on them, they are being snapped up quickly at close to the asking price. Central London is also perceived as a good area to buy in as it is relatively low risk compared to other major city properties as it is home to so much business and there will always be a good supply of renters who are professionals.

The sky’s not the limit?

The City of London is filled with a new generation of skyscrapers – the Gherkin, Heron Tower, Leadenhall Building (the ‘cheese grater’) to name but a few. But real estate buyers looking to build the next great sky scraper in London may face difficulties.

Londoners are getting increasingly protective over their skyline. Londoners are proud of the heritage and history behind the London skyline and skyscraper developers are starting to face challenges from historical bodies and planning authorities over the erection of any more ivery tall buildings. If English Heritage are not sure about your plans, they call a major public enquiry where the building plans must be justified to the Secretary of State.

Britain’s first green estate

Britain is planning to build it’s first, totally green estate in the Docklands area of East London. The estate is hoping to have a zero carbon footprint with residents able to grow their own food in purpose-built community greenhouses; power their electronics and gadgets with tree branches; compost their rubbish and recycle in specially built recycling area.

London’s most expensive flat

Following on from our article on the World’s most expensive house, we continue on our theme as a London flat sets a new British record for the most expensive flat. A penthouse in a luxury development in the heart of the country’s capital has sold for £12 million.

So what do you get for your money? Built on the site of the old Bowater House which formed an arched gateway from Sloane Square into Hyde park, you get 20,000 square feet with commanding views over Hyde Park and central London, although the complex isn’t expected to be fully complete until 2009.

UK housing market – perfect time to invest?

UK mortgage approvals have shown their lowest increases in 6 months. Rumours are now circulating that the UK housing market has nearly reached it’s peak and many homeowners are on the limit of the amounts of credit they can safely handle.

At the end of 2006, research showed that the UK housing market was buoyant and not showing any signs of slowing down. However, the Bank of England raised it’s base rate in January 2007, throwing a lot of people off their guard. With at least one more rise predicted, and most analysts believing this year holds another 2 rate rises, the after-effects are starting to hit a lot of people causing the housing bubble to stagnate.