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Posts Tagged ‘London Property’

London Popularity Booming With Overseas Investors

Monday, February 6th, 2012

In recent weeks and months a huge amount has been written about overseas investors buying property in London, and so today we are raising the question, why?

Why is London property amongst the most popular in the world?

It may seem like a fairly easy question to answer, London is, after all, one of the biggest and best cities in the world and one of the global financial hubs too. It is famed the world over for its infrastructure, shops, town houses, popular landmarks and parliament buildings. Let’s be honest, there is just so much to be seen and done in the UK capital!

Furthermore, the Olympic Games are coming to town in the summer which is undoubtedly one of the reasons why so much buzz surrounds the capital at the moment. Celebrities the world over will descend upon London for the few weeks that the Olympic Games takes place as will the super rich and super powerful!

London also has such a rich and interesting history and walking the streets one can, at times, feel that history reverberating around the place.

The Main Reason?

However, one of the main reasons why so many overseas investors are looking to London for their property purchases, and thus requiring property insurance quotes, is one that you may not have thought of as it is certainly not an obvious one.

And that is the high standard of education available to children. The Chief Executive of London Central Portfolio, Naomi Heaton, has explained that the third generation of a wealthy overseas family may be taught in British primary schools due to the thought that after someone has made their fortune they are likely to put their children through the British education system, including a university education.

Another Main Reason

In addition, Ms Heaton has been explaining further reasons why London is popular with overseas buyers: “People feel very comfortable here, it is a cosmopolitan society, it is one of the most visited destinations in the world, it is the centre geographically, financially and culturally [of the UK].”

London has such an extensive past, present and future and so many reasons for overseas investors to pump their money into property and such reasons are only likely to continue growing.

Tags: London 2012, London Property, London Property Investors, London Property Market, Overseas Investors, Property Insurance Quotes
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Top Property Locations

Monday, January 23rd, 2012

I came across an interesting article today that discussed the best locations to invest in London in 2012, and the list was a rather surprising one.

Property prices in London have been rising and they are expected to keep increasing over the year, especially with the Olympics coming to town in the summer which, as we know, will result in rents rocketing, but prices to buy in London will also be effected, which could in turn effect property insurance quotes too. The more expensive a property, the more expensive the insurance is likely to be.

So, what are the top three areas that will be the winners over the course of the year and subsequent years to come?

Kentish Town

First on the list was Kentish Town and Peter Malcomess of Chesterton Humberts has been quoted saying: “With the opening of the new French school in Kentish Town last September, enquiries on family homes directly related to the school currently make up around 15% of all our enquiries. These requests are mainly from French families living in London looking for large apartments or family houses in the area.” Kentish Town is now beginning to compete, in terms of property prices, with its neighbour Camden.

Would you look to invest in Kentish Town if you’re a property investor?

Battersea

Second on the list is Battersea, home to the much loved dog rescue facility. Battersea was listed as the second best place to invest in 2012 due to the fact that an extension to the Northern Line will put Battersea on the Tube Map once and for all. A local estate agent at Douglas & Gordon, Mark Hutton, has been upbeat about the new plans as people are already looking to invest, as he stated: “People are already buying into the area with these plans in mind.”

Furthermore, David Barnett, a property developer has been stating that investors will increasingly become attracted to the large expanse of land, the accessibility and the fact that the land is relatively cheap. The American Embassy is also to be built in coming years which will in turn help with the regeneration of the area.

Croydon

Third on the list was Croydon. Now this to me was quite a surprise at first, especially if you think back to the riots in August last year, however, we must not forget that the South London borough is already home to some very wealthy property owners and some very expensive homes, and it has great links to central London.

Over coming years property in Croydon is also expected to become increasingly popular, and therefore prices are set to rise. There are also plans for a Westfield Shopping Centre to open there which will of course pull in visitors from all over the country! Croydon could indeed become a property hotspot in future months and years.

Out of these three locations, hypothetically, where would you most likely invest your money?

Tags: London Property, London Property Market, Property Insurance Quotes, Top Locations
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Property Markets Depend on Location

Wednesday, January 4th, 2012

The news surrounding the property and housing market throughout 2011, and particularly in recent months and weeks, has been somewhat varied. From year high property sales to a gloomy housing market, property prices fluctuating, and increasing numbers of property millionaires being created, it really does seem that, depending on wherever you are located within the UK, you could be experiencing a frugal property market, or alternatively a very depressed property market. And the latest research that has been carried out by Zoopla serves to confirm that thought.

Average Prices

On average, property prices in the UK throughout 2011 remained fairly flat. The average price of a UK home now stands at £221,331. This represents a 0.23% decline since the previous year. So yes, such a figure indeed proves that 2011 was a rather flat year for property prices.

However, figures have revealed that the divide between the North of England and the South of England has widened further, with unsurprisingly London, and the South East, seeing prices rise, whilst the North has seen prices decline.

The average price to pay for a pad in London is now £416,890. That is a whopping £195,559 more than the national average for a home. So, to live in the UK capital, the average person is expected to pay nearly a fifth of a million pounds more than the average person would pay to live elsewhere in the UK. That is a huge amount more money, but it is little surprise that prices in London are so much higher than the rest of the UK.

Olympic Impact

With the Olympics on the way it is more than likely that London property prices will rise further too. Rental demand in the capital is also likely to soar further as anyone who is anyone may want to be in town during the Olympic Games. For those few weeks landlords will undoubtedly be able to charge higher prices for rent in and around London.

It will also not be a surprise to find an increasing amount of people registering spare rooms for rent, and those concerned may indeed opt to protect themselves with a landlord insurance quote in the event that any damage is incurred to the room or the property.

Prices in the North

Furthermore, if we return to the issue of property prices, Zoopla have also revealed that the average property price in the North East declined by 6%, which translates in monetary terms to a decline of £9,596 in 2011. The average house price in the North East now stands at £156,659. So that’s £64,672 less than the national average, and a massive £260,231 less than what it would cost the average buyer in London.

That’s over a quarter of a million pounds difference from one region to the next, which again confirms that the outlook of the property market really does depend on where you are situated within the country. Property is booming in London and the South East, whereas in the North of England it is quite the opposite. Savvy property investors may well benefit from property fluctuations. A bigger property for less money in the North could translate into higher rental yields than a smaller property for more in the South.

Tags: Landlord Insurance, Landlord Insurance Quote, London Property, Property market
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London Property Prices Rise

Friday, December 9th, 2011

A report has revealed that foreign investors seeking a safe haven for their money have helped boost property prices in London. The average value of a Greater London home has increased by 3.1% in November when compared with the same month last year.

Static Prices

Prices across England and Wales, on average, remained relatively static in November, and LSL Property Services Commercial Director, David Brown, has been commenting: “The resilience of property prices indicates that mortgage lenders and property buyers have not so far been spooked by the gloomy news emerging from the Eurozone.”

He added: “Although prices have declined by 0.7 per cent since November 2010, the rate of annual price decreases slowed everywhere except the North West and the East Midlands, with London buoyed by foreign investors seeking a safe haven in the capital’s bricks and mortar, showing an acceleration in price rises to 3.1% last month.”

Rise and Fall

The report also revealed that the three London boroughs with the largest growth are also among the top five in terms of price. The City of Westminster saw prices rise the most by 12.6%, whilst Kensington and Chelsea saw an 8.5% increase and Richmond upon Thames saw a 6.2% increase. It seems that there will be wealthy owners looking for property insurance quotes this winter!

The report also found that the five boroughs with the lowest price growth were in outer London. For example, Barnet experienced the largest decrease over the last 12 months as prices fell by 7.1%.

The number of properties sold in London between August and October this year has increased by 4.5% compared to the same period last year. This is good for the property market, however, this could actually be bad news for those hoping to get on the property ladder due to the fact that prices are now on the up again. This could potentially scupper plans of those who were saving for a deposit and a mortgage.

With the housing market a pretty tough environment currently, it seems that renting is still the most attractive option for many young professionals. How long will this continue though?

Tags: London Property, Property insurance, Property market, Property Owners
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