Central London Estate Agent

Covent Garden Flats: The Centre Of Culture & The Arts

2011-11-08T10:04:00.005Z

When evaluating flats for rent in England, London's West End has consistently come to the forefront for the amenities and the atmosphere. Potential renters looking for flats for rent in Covent Garden will find excellent properties that are carefully tended by property owners. The rental market is strong in this neighbourhood due to the good reputation of the area.

For those who enjoy the theatre, letting flats for rent in Covent Garden is the ideal place to live. Covent Garden is a mecca for theatre and its oldest is the Royal Theatre located on Drury Lane, established in 1663. Covent Garden is the centre of theatre, as nearby are the Lyceum, Aldwych, New London, and Duchess.

Also nearby are the Strand, Coliseum and the Drury Lane theatres. Having such a wide array of theatre choices in the heart of London makes Covent Garden a dream for those who enjoy having classic theatre conveniently nearby.

Pubs and restaurants abound making for a lively nightlife in Covent Garden. Good traditional pub food and drink is widely available. Entertainment in the form of street performers is common, which is called busking. An entertainer gets a licence from the owner of where they want to play and they can play outside or inside the establishment. Buskers draw crowds of residents and tourists alike and offer lively, ever-changing music and dance. A trip around the local area to soak up these attractions is available to residents on a daily basis. Small amplifiers are used, not loud and intrusive amps, so residents have a peaceful environment.

Covent Garden flats for rent offer proximity to a myriad of choices for cinema buffs. There are many places to see the latest movies. Two IMAX cinemas show movies in the latest 2D and 3D formats. The Prince Charles Cinema offers six month old movie releases at discount prices. For those on a budget or those looking to see the newest releases, residing in the Covent Garden area offers convenience to both.

Traditional English pubs are known the world over. The traditional English pub that serves Pub Fayre food is an experience not to be missed; and Covent Garden has many options when it comes to this type of food. The accompanying atmosphere makes this experience truly a grand one. There are cafes and restaurants whose menus run the gamut of international cuisine. Covent Garden flats for rent give close proximity to these delicious amenities.

Learn more about flats for rent in Covent Garden.

Property demand in Bloomsbury set to surge due to new university

2011-06-16T16:34:00.003+01:00

It has recently been announced that a new university, set to rival the high standards of Oxford and Cambridge, is set to open in London’s Bloomsbury, in September 2012. The New College of the Humanities will charge £18,000 per year in fees and West End specialist estate agency, LDG, anticipate that the influx of students attending the school will have an effect on the local property market.

Ben Everest, a partner at LDG, comments: “Bloomsbury is home to University College London (UCL) and so it already has a strong student population, many of whom have affluent parents who are funding their accommodation whilst they study. As this new university promises to offer ‘a new model of higher education for the humanities in the UK’, I would expect it to attract a similar breed of moneyed students, many from overseas.

“Both the sales and lettings markets in the West End are currently experiencing a shortage in supply of good quality properties, so if there is a further influx of students into the area, I expect the increased demand to result in prices increasing and it could even lead to bidding wars over the most sought after properties, such as those in Paramount Court or Bloomsbury Terrace, which are popular with overseas students.”

For available properties in Bloomsbury for sale visit http://www.ldg.co.uk/residential-sales/search-results

Link to LDG in the ES

2011-04-28T15:45:00.002+01:00

Here is the link to LDG in the ES online this week. Laurence comments in a feature on living in and buying property in Soho, and answers questions in a Q&A about the area.

http://es.homesandproperty.co.uk/property_news/news/wordonthestreet20110427soho.html?ito=1610

LDG also feature in the property section of the ES in 'Word of Mouth', also about Soho.

New Banksy in Fitzrovia

2011-04-26T12:54:00.001+01:00

There is a new Banksy piece in Fitzrovia: http://gowalla.com/checkins/34936623

LDG in the media

2011-04-26T12:52:00.002+01:00

LDG is being featured in the Evening Standard Magazine on the 27th April in a feature on Soho. LDG's newsletter, The Local, is hitting the streets soon as well, with a vibrant new look!

Investing in West End property

2011-04-12T15:03:00.002+01:00

Whilst interest rates are low and not providing any returns on savings, West End property specialists, LDG estate agency, is seeing increasing levels of demand from people who want to invest in the booming property market. Equally, the increase in both the need for rentals and the possible financial gain in lettings has increased the appeal of property investment.

A central London tourist spot like Covent Garden would provide an ideal development opportunity, due not only to being surrounded by local businesses but as it is also a highly sort after residential area. A commercial West End property, situated in a stunning old-style building in Covent Garden could experience a significant increase in value if divided and developed in to residential properties.

After obtaining planning permission, a development which allows for a two bed apartment with a courtyard in place of the commercial property can add hundreds of thousands of value. A recent report gave the average price for a one bedroom property in W1, London’s West End, came in at around £960,064 where as three years ago it was closer to £885,579. This proves that despite economic downturn and general buyers’ worries, the heart of the country’s capital remains as attractive to potential buyers as ever.
Flats for sale in Covent Garden, the West End of London have become such sort after properties for many reasons, not only that of near definite financial security but they are also some of the most well connected with regards to travel and offer some of the world’s most top-class entertainment on your doorstep.

Laurence Glynne, partner at specialist West End estate agents, LDG, comments: “A property that evolves from a well-located commercial building to a prime position residential home would be an ideal opportunity for an investor or a creative buyer to construct a unique and spacious apartment in the heart of Covent Garden. Once the building work is finalised, I would expect the property’s resale price from £850,000 to increase to somewhere in the region of £1.45m.”

Getting Olympic rental prices for your home

2011-04-08T15:40:00.001+01:00

Friday, 8th April 2011
Grab a lucrative slice of the action by letting out your pad during the games
Donata Huggins
JUST 476 days until the Olympics, reads the countdown clock in Trafalgar Square. It heralds the flood of millions of people into the city to watch the games. Preparations are already underway: the Tube is being renovating stadiums are being built and hotels are hiking their prices. If you’re looking at all this and wondering how you might be able to get a lucrative slice of the action, you should look no further than your home. Online letting agencies are falling over themselves to get a cut of the profits that could be made on renting out your spare room, rental property or whole house if you are willing to vacate it for weeks on and around the Olympics. Unsurprising, when research from easyroommate.co.uk shows that the average Olympic landlord is looking to charge a minimum of £399 per week – more than four times the current average UK room rent. In areas close to the Olympic Park, such as Stratford, rooms are going for as much as £600 a week. And these are the current prices. Rates will increase rapidly as the date draws closer. But before you rush headlong into marketing your property, make sure you consider these five things.

1. DON’T DITCH GOOD TENANTS

While there’s a pretty penny to be made with short term lets during the Olympics, it’s not worth missing out on longer term tenants for. Not only is short-term letting a lot of administrative work, but even if it makes you three times the property’s regular income, it might not make up for the lost income before and after the games when the property is vacant. Tony Lam of letting agency LDG also warns: “With short term and holiday lets there is a lot more to consider – remember to take into account additional costs like bills, which short term landlords are responsible for. People will expect a lot for paying over the odds, so you should be prepared to be on call 24 hours a day for management and maintenance issues.”

2. SECURITY

Getting references is not the norm for short-term tenants, so you have to approach the idea with a degree of confidence in your tenants. That said, you shouldn’t be too trusting. You need to consider whether you need to clear out your belongings, and if you do, where you’re going to store them. For peace of mind, Jonathan Moore, director of Easyroommate.co.uk, advises that you should make sure that there’s a written agreement between you and the tenant.

3. INSURANCE

A big downside to letting out your property is that you have to inform your insurers that your property is being let out. This could increase your premium. If you have lots of expensive items in your home, you might want to consider getting a professional inventory done prior to the let.

4. LAW

You might have already thought through the security, insurance and financial aspects of letting out your home, but don’t forget that there might be legal implications too. Many leasehold agreements do not allow lets of under six months. Local councils also often have limits too. Westminster Council, for instance, will only allow residents to let out their homes for 90 days.

5. MARKETING

Getting the best price for your room or property depends on how well you market it. We’ve listed some of the best websites in the box below. You need good photos and a detailed description of your property to get people interested. Companies such as Accommodate London can take away this hassle for a small cut of the profits.

Proportion of UK buyers increases, and volume of sales of properties over £1m doubles for West End

2011-04-07T17:23:00.001+01:00

Proportion of UK buyers increases and volume of sales of properties over £1m doubles for West End agent
At the end of their financial year (March 2011), West End specialist estate agency, LDG, noticed some significant year-on-year shifts in who is buying in the West End, and what they are buying.

From April 2010 to March 2011, LDG saw a marked increase in sales of properties priced over £1 million; from 30% in 2009/10 to 71% in 2010/11. Whilst the surge in activity on property priced £1 million and above has largely been attributed to the stamp duty increase (from 4% - 5% on properties priced over £1m), this is not the case for LDG. Laurence Glynne, partner at LDG, explains: “We did not experience a surge in completions from people trying to avoid the stamp duty increase. Instead, I believe the higher number of sales of property in excess of £1 million is because we saw an increase of nearly 20% of people buying their main UK residence in the West End last year and as confidence has returned to the property market here, vendors have been more willing to put their homes on the market, in turn encouraging buyers.”

Laurence continues: “The West End has a very short supply of family properties so those looking to buy their main home here are often willing to pay a premium to secure a property that is right for them. A mixture of people are choosing to have their main UK residence in the West End – from families with young children, to professional couples to overseas buyers.”

It has been widely reported that there has been an increase in foreign buyers in the London property market, but contrary to this, LDG has seen the proportion of its UK buyers rise to 70% in 2010/11, from 57% the previous year. Laurence adds: “The increase in UK buyers is a positive sign that domestic confidence is returning to the property market - prices are steadily rising which is encouraging buyers to act. We are also seeing an increase in cash buyers who would rather invest their money in property in the West End, which is largely unaffected by national house price shifts, than receive little return on cash in the bank as a result of low interest rates. International buyers are still operating at the top end of the market, but despite the political turmoil in the Middle East and the natural disaster in Japan, we have not yet seen any evidence to suggest that we will see an influx of foreign buyers to the West End.”

Budget Reaction

2011-03-24T11:23:00.007Z

23rd March 2011
From Ben Everest, partner at West End specialist estate agency, LDG

Ben Everest, partner at West End specialist estate agency, LDG, comments: “We welcome The Chancellor’s announcement that the default answer to planning applications will now be “yes”. This, together with Eric Pickles’ announcement that the need to apply for planning permission to convert empty offices or shops into residential homes is to be scrapped, should help to increase stock levels of residential housing.

“In London’s West End, there is a distinct shortage of residential property and at present, areas that are controlled by Camden Council have very strict planning procedures which apply to converting commercial premises into residential accommodation. Currently, purchasers need to prove that the premises has not been a viable business premise for at least two years – this means two years of paying business rates, mortgage payments and bills for an empty building which produces no income.

“I am currently working with a number of developers who are looking at office to residential conversions – some are in prime areas which will make fantastic, ground-breaking new homes. Also, because of other planning conditions, developers will need to incorporate a mixture of affordable and social housing into their schemes; this will benefit people at all income levels and ease the soaring demand for residential accommodation in the area.

“Another interesting announcement from Mr Osborne is the proposed ‘crackdown’ on Stamp Duty avoidance, in anticipation of the Stamp Duty rise in April. The Chancellor plans to make it more difficult for buyers to avoid Stamp Duty by purchasing property via ‘corporate vehicles’; we have experienced people doing this in the past, but I do not expect the it to have a significant effect on the West End market. In the run-up to the Stamp Duty increase, I have only had one completion that was agreed just below the £1million mark in order to save on Stamp Duty.

“It is encouraging to hear the Chancellor’s plans to help first time buyers by offering loans to help boost their deposits; although the West End tends to be out of reach for the vast majority of first time buyers, it is good to see the government recognising the issues which are affecting the market.”

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

LDG’s lettings team experience busiest September since 2007

2010-09-22T10:08:00.004+01:00

West End specialist estate agency, LDG’s lettings team are experiencing their busiest September since before the economic downturn, thanks to an increasing number of rental enquiries from both professionals and students.

Tony Lam, a lettings agent at LDG, says: “September is usually student season and literally hundreds of students have registered with us, but this year, we have also seen the return of the professionals, and the result has been our busiest September since 2007.

“There has been a noticeable increase in professional renters who are typically aged between 28 and 32 and mostly work in the financial sector. Budgets are usually between £350 and £450 a week for those looking for a one bedroom apartment and £500 to £600 a week for a two bedroom apartment.

“Due to the high volume of rental enquiries, well maintained properties are being let within a couple of days of us marketing them. For example, we are managing a new development block of three, one bedroom flats on Foley Street (W1W), all of which were let within 48 hours to European finance professionals who are working in the City.”

Tony believes that the student population has also become more affluent this year, he says: “During the past few years, rental properties in the West End have been unoccupied over the summer as the parents of international students were less willing to pay for periods in which the property would be empty. However now, parents are happy to pay the rent on a property over the summer months to secure it for when their children begin studying. Some students are willing to pay up to £1000 per week in rent.”

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt / Charlotte Young at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk / charlotte.young@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

LDG’s lettings team experience busiest September since 2007

2010-09-22T10:08:00.003+01:00

West End specialist estate agency, LDG’s lettings team are experiencing their busiest September since before the economic downturn, thanks to an increasing number of rental enquiries from both professionals and students.

Tony Lam, a lettings agent at LDG, says: “September is usually student season and literally hundreds of students have registered with us, but this year, we have also seen the return of the professionals, and the result has been our busiest September since 2007.

“There has been a noticeable increase in professional renters who are typically aged between 28 and 32 and mostly work in the financial sector. Budgets are usually between £350 and £450 a week for those looking for a one bedroom apartment and £500 to £600 a week for a two bedroom apartment.

“Due to the high volume of rental enquiries, well maintained properties are being let within a couple of days of us marketing them. For example, we are managing a new development block of three, one bedroom flats on Foley Street (W1W), all of which were let within 48 hours to European finance professionals who are working in the City.”

Tony believes that the student population has also become more affluent this year, he says: “During the past few years, rental properties in the West End have been unoccupied over the summer as the parents of international students were less willing to pay for periods in which the property would be empty. However now, parents are happy to pay the rent on a property over the summer months to secure it for when their children begin studying. Some students are willing to pay up to £1000 per week in rent.”

For further information and to enquire about properties LDG is currently marketing, (such as Covent Garden flats for rent) please visit www.ldg.co.uk or telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt / Charlotte Young at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk / charlotte.young@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

From rags to bricks: the rise of an estate agent - Fitzrovia News issue 118, Autumn 2010

2010-09-20T16:39:00.002+01:00

Laurence Glynne, senior partner and founder, of LDG estate agents is talking about his daughter, Rachel. “She tells me: ‘I’m not going into selling. I don’t want to do what you do. I don’t want to be like you!’” And he laughs as he recalls the scene.

We are sitting in the basement of his offices on the corner Foley and Candover Streets. There’s a lovely photograph on the wall of the shop front taken during the heavy snow of February 2008. One of his colleagues comes in and moans about no spaces in the cycle docking station in Foley Street being available.

Laurence continues to talk about his family. “Rachel would like to work in media and art. I’m cool about her ideals. But I also think you can be happy in a very commercial businesses. Here we are very commercial. That’s no secret. But we do try to do things a little differently. Our customers don’t want just a hard sell. People are not impressed by that. Property buyers want someone who knows what they are talking about and who know their neighbourhood.
“My other daughter Jessica is a creative soul. She has a great voice and wants to be a singer. As a parent you just want the best for your children. But it’s always a balance between reality and ideals. I want them to be happy and I encourage them to get where they want to go, but at the same time you need to foster some realism in them as well.” Clearly his daughters don’t think being an estate agent is a very attractive career. I’m giving Laurence the benefit of the doubt.

“Anyone can be a dull estate agent,” admits Laurence. “But to offer something different takes a bit of thought. You are trying to make people happy. People are looking for happiness from what they buy.”

The scene from US TV series Mad Men comes to mind where Don Draper explains to his clients that advertising is about happiness. You need to make people feel ok. That’s what they want. I suggest this to Laurence and he nods his head. But then hesitates and he’s not sure whether to agree with me or not. He’s not sure whether the image of Don Draper is something to be admired? Don Draper is very good at his job but he is a morally ambiguous character. Aren’t people a little more wise to that now?

Laurence is careful to explain himself. “Some people are just so hard-nosed it’s off putting. The enjoyable side of the job is important. If you enjoy your work people like that. I remember when I first came to this area in the late 1960s as a teenager with my father to visit the people in the rag trade in Great Titchfield Street. Some of the people who spoke to my father were really rude. I was quite taken aback by it.”

Laurence’s father came from Poland and his mother from Russia. They met each other in London’s East End in the late 1930s. When war broke out his father volunteered to fight. After the war his mother and father moved to Wales where his father started a business as a tailor. He didn’t want to use his Jewish name Goldstein for fear of anti-Semitism and so instead adopted the Welsh surname of Glynne. After a couple of years in Wales his parents moved to Nottingham where Laurence grew up. His father continued in the tailoring business and they used to make the trip down to London, and, of course, to the rag trade in Fitzrovia.

“So I got to know Fitzrovia quite well. When I finally bought this showroom, the day we opened one of the neighbours came over and gave me a book. He said that the place used to be a Jewish delicatessen. And I opened the book and there was a picture of the place as a deli and a bit about its history.”

Fitzrovia and Soho had many Jewish delicatessens and salt beef bar a few decades ago. Now almost all of them have gone. Just like many of the other individual family-run places and curiosities that adorned the streets of central London, they’ve disappeared to be replaced by chain sandwich bars, coffee shops, and fast-food outlets.

Laurence remembers Schmidt’s in Charlotte Street. He remembers watching the staff put money in vacuum tubes and then hearing the capsule rattle its way up the pipes and disappear. Now it’s just the beep of electronic tills taking money without any real effort. A few places of character still exist. Laurence likes Navarros on Charlotte Street. And Fitzrovia still has more character to it than many other places. Many of his clients are people selling up from Soho and Covent Garden and moving to Fitzrovia to escape the rabid commercialisation that has taken place. But how long before Fitzrovia goes the way of those places?

I ask if estate agents deserve their negative reputation. Laurence gives it to me straight. “A lot of the bad press about estate agents is justifiable. It was an estate agent that invented Noho as an alternative for Fitzrovia, after all.” Noho is a name that Laurence dislikes. And he’s in good company.

“At the moment there is a huge property shortage. But estate agents still need to make proper valuations. There is the temptation to overvalue, to manipulate the price. But in the long run, that doesn’t do either seller or buyer any good,” says Laurence.

“Buyers and sellers do their own research nowadays with the information available on the net, but people need to cross-examine estate agents and not just blindly accept what they say. After all, if the price is too high it won’t sell,” he tells me.

I ask Laurence about what music he likes. “I’m very fond of jazz,” he says with a smile.

I don’t know anything about jazz but I decide to cross-examine him on his musical taste, nonetheless. What sort of jazz? I ask.

Laurence leans back on his chair and says: “Jazz is like this.” And he stretches out his arms like an angler boasting about the size of a fish he once caught. “There’s so much to enjoy. I’m fond of the greats like Miles Davis…” and rattles off a few more names, none of whom I recognise. Then he mentions Pat Metheny, who I have heard of…

“I went to see Pat Metheny at the Barbican a while back. A fantastic concert. I really enjoy live music,” he tells me. I begin to think that the bad press about estate agents is unjustified.

What sort of people walk through his door looking to buy in Fitzrovia? “We get people looking to buy studio flats. Parents buying for their children. And of course they see property as an investment. Lots of young couples are looking to buy. Lots of international students want to rent property. Also city workers are looking to rent. Families tend to buy mews houses,” he informs me.

There is also a big pied-a-terre market in Fitzrovia. This is not popular with the more fixed population who see these people who live here for just mid-week as having no commitment to the community.

People buying a second home to use some of the time does no good for the neighbourhood in Fitzrovia or for the community where these people have their main home. It adds to the housing shortage. People who can afford two or more homes help to ratchet up the cost and shortage of housing. They buy a small place in the centre of London because they don’t want to spend huge amounts of time commuting in to London everyday.

There’s a message painted on a wall besides the M40 motorway as it enters the chalk cutting in the Chiltern Hills which says: “Why do I do this everyday?” The log jam of traffic at 7am on any weekday morning into London passes slowly past this message to the mindless commuters who sit in their cars to make the two-hour or more journey into the centre of London is enough reason to be tempted to buy a small place in Fitzrovia with its many links to mainline train stations and other public transport.

This is not the fault of estate agents or the people themselves. It’s the fault of an industry that seeks to grow the commercial heart of London; and a planning system which does little to challenge it. This is unsustainable growth sucking people into the south-east of England, creating over development and spiralling costs of housing. While other parts of the United Kingdom which should have their own locally-based economies become dormitory towns and cities. Both Crossrail and the proposed new high-speed link from Birmingham to Euston will just add to this travelling madness.

Laurence disagrees: “The pied-a-terre buyers can be good for the area because they like the mix that Fitzrovia offers and that’s a good thing. Some buy for kids and family so the local community would benefit somewhat.”

The street outside is quiet. There’s a police and a community support officer standing on the corner of Candover and Riding House Streets. They are waiting to catch cyclists riding the wrong way down Candover Street. That’s how sleepy things are in August.

We take some pictures of Laurence outside his attractive showroom, with its large windows and tastefully painted wooden frames. The logo on the shop hints to an art deco style. It reminds me of the wall mounted lampshades in the Tavistock Hotel in Bloomsbury. I ask Laurence who thought of that design.

He looks up at it and says: “I chose the logo because I am interested in the architecture of the 20s and 30s.” And that was the time when Laurence’s mother and father grew up in Eastern Europe, came to London, got to know each other and fell in love.

London Estate Agents Report Scramble for Property Close to London Cycle Hire Docking Station

2010-09-13T11:55:00.006+01:00

Property prices in London, just as in every other city in the UK, are affected by proximity to public transport infrastructure, particularly bus stops, tube and train stations. Now, according to the Evening Standard, it appears that Barclays Cycle Hire stations are exerting their own influence on prices in the capital’s property letting and sales market.

The Standard reports on how landlords of properties close to the winning combination of a Boris Bike docking station and a Transport for London cycle superhighway can bump up their rents by over 10% in what is otherwise a relatively stagnant market.

The news that proximity to a docking station might have a beneficial impact on rents (for landlords) won't come as a surprise to many although it is in sharp contrast to the many objections from local residents to the siting of docking stations near their properties that Transport for London has had to deal with in recent months.

Residential Landlords Expect 9% Returns By Year End

2010-09-07T12:32:00.003+01:00

Those who invest in Britain’s residential property market will likely see returns that far surpass what their savings would make if invested on the stock market or by banks reports the RLA News Service. The Investment Property Database’s UK’s Residential Index found that landlords and other investors in residential real estate enjoyed returns amounting to 4.7 percent during the first six months of the year. As long as the market does not enter into another crisis, specialists predict returns of around 9.6 percent by the end of December.

This represents a major improvement compared to returns over the past two years, especially following the financial crisis, when they fell by 3.3 percent. Experts believe that while the residential property market tends to perform very robustly during times of economic recovery, even during more troubled periods, “insulated depreciation” characterizes the sector when there is overall instability in the economy.

One of the most attractive aspects of investing in residential properties—whether to sell, or to enter the buy-to-let sector—is that it is generally seen as a less volatile investment than relying on mutual funds and the stock markets. At the same time, returns are far less conservative than if one relied exclusively on guaranteed investment opportunities offered by most banks.

Capital growth in the residential property market reached 2.5 percent, with income return rising to 2.2 percent during the first six months of the year. While residential properties performed well, commercial real estate experienced even stronger growth, with capital increases of 6.2 percent.

To view a full list of flats for rent in Covent Garden or flats for rent in Fitzrovia visit our website.

London Property with Outside Space Has 15% Premium

2010-09-06T12:01:00.001+01:00

Outside space is always an important feature for house hunters, but in the heart of London, where there is a significant lack of such space, LDG is seeing just how strong the demand is.

The West End specialist estate agency has recently sold a two bedroom penthouse with a stunning, L-shaped terrace, for in excess of £1120 per sq ft - a premium of around 15%, which is unlikely to have been achieved without the exterior space. The property's prime location in the heart of Fitzrovia also added to its appeal.

Laurence Glynne, managing partner of LDG, says: "Properties with some form of outside space, be it a terrace, courtyard, balcony or access to communal gardens, are definitely on the top of most of our clients' wish list. Although there is a high demand for such properties, only a small number are actually available; just 14% of all the properties recently sold by LDG have featured any form outside space. As such, these properties guarantee high sales value in the West End because they are so rare and generally evoke competition between prospective buyers which, in turn, drives prices up further."

Outside space is highly desirable on the lettings market too; Javier Carrillo, LDG's lettings manager, estimates that only 5% of rental properties in the West End have any. He comments: "Because of the demand, those properties with outside space in the West End rent very quickly and have short void periods between tenancies. Both the rental and sale value of a property with outside space is always higher than properties without it, no matter what the condition."

House Price Market Surveys Should Be Local

2010-08-17T10:29:00.006+01:00

Residential property values declined through much of the United Kingdom for the first time in over a year, according to the Royal Institution of Chartered Surveyors (RICS). Ian Perry, representing RICS, noted that the reason behind the decline is related to an increase in the supply of properties for sale, as well as a much more cautious approach to buying, on the part of many Britons.

Many potential buyers are fearful of the possibility of another economic slowdown this year and as such, property prices may continue to slip in the coming months.

But Trevor Kent, once the head of the National Association of Estate Agents, now points out that homeowners and landlords must be careful when examining national statistics on the residential property sector and avoid attaching too much importance to them. There are very significant discrepancies from one region to another. Kent added that just as how “all politics are local,” property values are also based on local realities.

Kent noted that many residential property owners in the UK must be bewildered to hear so much about the supposed recovery over the past year. While property prices in England’s south east, in much of London and even in the North’s Cheshire increased markedly, the improvement was far less pronounced and even non-existent in other parts of the country.

London Property Asking Prices Down By £17k

2010-08-16T11:08:00.001+01:00

Bloomberg reports that London home sellers cut £17,000, off their asking prices on average in August, wiping out gains recorded in the first half of the year, Rightmove Plc said.

Asking prices in the capital fell 4.1 percent on the month to an average 405,058 pounds, the operator of the nation’s biggest property website said in a report today. The drop is the biggest in two years and returns values to levels seen in January. Prices across England and Wales fell 1.7 percent.

Reports from Nationwide Building Society and Halifax also signal that the U.K.’s housing recovery is faltering, while Rightmove said a squeeze in the availability of credit may limit price gains. Bank of England Governor Mervyn King said Aug. 11 the banking system is still “badly damaged” and that is keeping lenders’ funding costs high.

“Mortgage levels have a lender-imposed ceiling,” Miles Shipside, commercial director at Rightmove, said in the statement. “If you can’t raise a beefy deposit, cheaper property prices won’t help you much.”

Rightmove’s data show the London boroughs of Wandsworth and Brent led declines in the capital, falling 6.2 percent. Newham was the best performer, slipping 1.2 percent, while the Kensington and Chelsea district fell 1.7 percent.

Buy To Let Property Sector Cautious But Positive

2010-08-15T10:35:00.001+01:00

Most residential landlords are still positive about the prospects of the country’s buy-to-let sector, but according to a survey conducted by CHL Mortgages, uncertainty has risen noticeably, compared to figures published six months ago. In fact, 81% of landlords believed that the sector was headed in the right direction in late January, but the newest CHL study found that this figure slipped to 64%.

Additionally, one in four landlords indicated that they were uncertain about the sector’s prospects in the near future, representing a significant increase from the much lower 9% figure published at the beginning of the year. This drop in confidence may have a significant impact on residential property sales, as the number of landlords looking to add to their portfolio has dropped to 28%. This represents a 10% decrease from the last survey. As such, the supply of rental properties may continue to lag behind the strong demand that currently characterizes the buy-to-let sector.

There is a clear reason as to why more landlords no longer plan to purchase new properties. Many have expressed frustration over the fact that buy-to-let lending has not yet recovered. Bob Young, CHL’s managing director, noted that many landlords would prefer more flexible deposit regulations, thus decreasing the amount necessary to obtain a mortgage.

While fewer landlords are looking to purchase new properties, a clear majority intends to keep its current real estate and does not plan to sell. While 53% of landlords said that they would not sell back in January, this figure now stands at 66%.

Renters Expect Rent Rises in 2011

2010-08-10T14:36:00.002+01:00

Renters will be paying more for their rented accommodation in 12 months' time. That is the opinion expressed by respondents to Rightmove's latest Consumer Confidence Survey.

Which reveals that nearly half (45%) of those who are currently renting and plan to rent in the next 12 months expect rents to be higher this time next year. This is the fifth consecutive quarter that we have seen an increase in the proportion of respondents expecting higher rents one year from now. By contrast, only 7% expect rental prices to be lower.

“With some landlords put off by lack of access to finance or greater tax-take, those investors who can buy more are looking at improving returns and less competition. With a tougher sellers' market forecast for the second half of 2010, investors may see the opportunity for a win-win situation as the cost of buying falls and rents increase.

"The longer-term demand outlook for landlords will also be enhanced if recent Government proposals force some better-off council house tenants to move into the private rented sector”.

Across the country there are some interesting regional differences in renters' expectations for the year ahead. East Anglia is the only region where more than half (51%) of those surveyed anticipate that rents will increase over the next year, significantly higher than the 39% of people in the North East who were of that opinion.

London is home to the most price-pessimistic renters, with around 1 in 9 (11%) expecting rents to fall.

Properties with outside space command a 15% premium in London’s West End

2010-08-02T16:12:00.002+01:00

Outside space is always an important feature for house hunters, but in the heart of London, where there is a significant lack of such space, LDG is seeing just how strong the demand is.

The West End specialist estate agency has recently sold a two bedroom penthouse with a stunning, L-shaped terrace, for in excess of £1120 per sq ft – a premium of around 15%, which is unlikely to have been achieved without the exterior space. The property’s prime location in the heart of Fitzrovia also added to its appeal.

Laurence Glynne, managing partner of LDG, says: “Properties with some form of outside space, be it a terrace, courtyard, balcony or access to communal gardens, are definitely on the top of most of our clients’ wish list. Although there is a high demand for such properties, only a small number are actually available; just 14% of all the properties recently sold by LDG have featured any form outside space. As such, these properties guarantee high sales value in the West End because they are so rare and generally evoke competition between prospective buyers which, in turn, drives prices up further.”

Outside space is highly desirable on the lettings market too; Javier Carrillo, LDG’s lettings manager, estimates that only 5% of rental properties in the West End have any. He comments: “Because of the demand, those properties with outside space in the West End rent very quickly and have short void periods between tenancies. Both the rental and sale value of a property with outside space is always higher than properties without it, no matter what the condition.”

Follow the link for further information and to view commercial & residential properties for sale and to rent in central London or telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt or Charlotte Young at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk / charlotte.young@foundation-pr.co.uk or telephone: +44 (0)20 8542 7400.

The win-win West End property market

2010-07-28T10:01:00.003+01:00

In contrast to 2008, when the property market was flooded with ‘accidental landlords’ who were unable to sell their properties and felt forced to let, demand for residential properties in the West End is so strong in both sales and lettings with values and yields increasing, that vendors want to put their properties on both markets, according to West End specialist estate agency LDG.

Ben Everest, partner at LDG, says: “People who own property in London’s West End have recently benefitted from good capital appreciation, and so they find themselves in a very secure position; despite the latest reports that property values on the whole are in decline, prices in the West End are holding firm and the demand for rental property remains consistent.

“The current market is completely opposite to the market that created the ‘accidental landlord’. Vendors are not being forced to let because they cannot find buyers; they are opting to let their properties because the rental market is so strong. Having owned their properties for a number of years, rental prices can produce attractive yields. Property owners want to try both the sales and lettings market as both are offering good returns – if they opt for the latter; they gain a strong rental income whilst the value of their property increases further, so it’s a win-win.”

July is typically a quiet month on the property market but for LDG, although the quantity of enquiries is lower, the quality is high. Ben explains: “People who make enquiries during July are genuinely serious about wanting to purchase – they are not window shopping. As a result, we are still experiencing a constant stream of exchanges. We have had a number of properties going under offer within a week, for example; we agreed a deal on a two bedroom penthouse on Lambs Conduit Street for £885,000 just a week after it came onto the market.”

LDG is currently marketing a number of properties for sale and to rent including a two bedroom, multi-levelled house on Great Titchfield Street priced at £925,000 freehold or £800 per week to rent, and a three bedroom house in Middleton Place, a sought after pedestrianised street in the heart of Fitzrovia for £1.59m freehold or £875 per week to let.

Fllow the link for further information and to enquire about flats and apartments for sale and rent in the West End with LDG, or please telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

House for Sale Middleton Place, Fitzrovia, London W1W

2010-07-26T13:55:00.004+01:00

Central London Property for Sale Freehold: £1,590,000

This pedestrian 'hideaway' in one of the most sought after Fitzrovia locations is home to a charming and characterful terraced period freehold house, the likes of which rarely come to the market.

Thoughtfully planned, over four floors, the property offers an excellent combination of reception rooms and bedrooms along with a small piece of outside space.

Situated between Langham Street and Riding House Street, the property is perfectly located for Oxford Circus, Regents Park and an excellent selection local cafés and restaurants, whilst being minutes from some world class shopping opportunities.

House for sale Middleton Place, Fitzrovia, London W1W

Londoners Register For Bike Hire Scheme

2010-07-26T12:51:00.004+01:00

About 3,000 people have registered for London's new cycle hire scheme, Transport for London (TfL) has said. A BBC Report that the scheme, which begins on Friday, will make 6,000 bikes available from 400 locations across central London.

Registration opened on 23 July, but some people were unable to enter their credit card details on the website. TfL said the problem had been fixed.Only those who register can use the bikes in the first month - they were originally to be available to all.

TfL said this was so it could "learn how members engage with the scheme, including patterns of bicycle usage".Customers must activate an electronic key, which costs £3. Membership rates range from £1 for 24 hours to £45 for a year.

Users can take a bike for 30 minutes for free, but must pay rental charges if they use it for longer than half an hour.

RLA London Landlords Expect Property Price Rise

2010-07-26T12:29:00.003+01:00

Nine out of ten London landlords expect further property price increases

According research conducted by the Young Group, 87% of residential landlords in the London area anticipate the values of their properties to continue increasing or—at the very least—remain at current levels during the latter half of the year. This represents a 10% increase in confidence levels among landlords over figures published during the second quarter. But this optimism is not mirrored in parts of the UK, with 30% of landlords outside the capital expecting values to actually fall somewhat over the course of the next 12 months or, at best, remain at current levels. Yet even these figures show clear signs of improvement, as only 49% believed in property price increases near the beginning of the year.

Analysts suggest that residential property prices in the London area will increase by approximately 2.5% over the course of the next year, while real estate in other parts of the UK will likely see a very modest 0.2% rise in value. While this increase is minimal, it is still a marked improvement over much gloomier predictions published early in the year, when the housing market faced a decline in prices of around one percent.

The Young report indicates that Britain’s residential landlords are still in the buy-to-let business for the long-haul, with 95% of buy-to-let investors indicating that they planned to stay in the sector and would hold on to their properties for at least the next 12 months. Just over half of all landlords (55%) anticipated keeping their real estate for the next decade.

Landlords Fear No Go Zones For Shared Housing

2010-07-24T12:34:00.001+01:00

Local authorities could have the power, later this year, to declare their own “no-go” zones for privately rented shared houses.This would replace the current need to obtain planning permission if a landlord wanted to rent out an existing family home to a group of tenants such as students, nurses or young professionals.

But the government’s policy of reducing the burden of national legislation on the sector could create a local mass of new red tape – says the Residential Landlords Association.

That’s why the RLA is lobbying the new housing minister Grant Shapps on his planned revision of the new planning regulations that came into force three months ago.The association has already attacked the current position - where a landlord with planning permission to rent out a shared house, and then lets it to a family, may not be allowed to switch back to a shared house at a later date.

That was part of the former government’s plans to restrict the numbers of small ‘houses in multiple occupation’ Grant Shapps, however, plans to relax that legislation but instead, from 1st October, he proposes to allow local authorities to apply the rule in areas they consider to have an HMO ‘problem’.

And that, says the Residential Landlords Association, could create ‘no-go HMO zones’.
“The minister has declared his intention to reduce the legislative burden for private sector landlords and he may achieve that at national level,” says RLA lawyer Richard Jones. “But locally this gives local authorities too much additional power.

Flat for sale, New Cavendish Street, Fitzrovia, London

2010-07-19T13:09:00.000+01:00

Central London Property for Sale, Leasehold (lease ends 2109): £349,000

This attractive one bedroom apartment sits on the third floor a small attractive red brick period building. Well presented and with the added benefit of a separate kitchen, this property would make an ideal purchase for those seeking to live in the heart of Fitzrovia, being well suited as a rental investment or a pied de terre. All the attractions of a West End lifestyle are easily accessible with Regents Park, Marylebone High Street and Oxford Street all being within strolling distance.

Early viewing is strongly recommended.

Flat for sale Coryton House, New Cavendish Street, Fitzrovia, London W1W 6XY

U.K. House Prices Drop; London Retail Sales Increase

2010-07-18T12:01:00.001+01:00

The Wall Street Journal reports that U.K. house prices fell in July from the previous month as the number of new sellers outnumbered potential buyers, adding weight to forecasts that after gaining in the first half of 2010, house prices will end the year little changed from January, according to a survey by Rightmove published Monday.

Separately, retail sales in London rose at the strongest annual rate in more than three and a half years in June, a sign that shoppers in the capital are more upbeat about the economy than in the rest of the U.K., according to the British Retail Consortium. But the trade association warned that the powerful increases in retail sales were unlikely to be sustained due to uncertainty about the strength of the economic recovery, the planned January 2011 increase in sales tax and looming public-sector job cuts.

The joint BRC and KPMG survey showed the value of sales in comparable stores in central London was 14.4% higher in June than in the corresponding month last year, the sharpest rise since October 2006 and far stronger that the 1.2% like-for-like increase seen in the U.K. as a whole.

In May, sales were 10.8% stronger on the year in London and 0.8% higher in the U.K. as a whole, the BRC said. Central London like-for-like sales were 10.1% stronger in the second quarter than in the corresponding period last year, but were unchanged for the U.K. as a whole.

"These are impressive results," Stephen Robertson, the director general of the BRC, said in a statement. "Customers in the capital are less pessimistic than the rest of the U.K. and significantly less so than this time last year."

The BRC said June's hot weather and sports events, such as the football World Cup and Wimbledon tennis tournament, meant fewer people were out shopping in central London, but the people who did hit the stores spent more each visit. Clearance sales helped pull in the shoppers, while the comparative weakness of the pound also continued to attract tourists, the trade association said.

Flat for Sale Hallam Street, Fitzrovia, London W1W

2010-07-16T13:02:00.001+01:00

Fitzrovia Property for Sale Leasehold (lease ends 2918): £324,999

A unique opportunity to develop a bespoke studio apartment in one of the most sought after buildings in the area. Situated on the ground floor, the property is currently arranged as two interconnecting rooms which then lead onto a large bathroom. In need of total refurbishment the flat does not currently have a kitchen. With some creative flair and a splash of imagination there exists the opportunity to create an ideal London pied-de-terre or rental investment. Benefits include onsite porterage, a long lease and proximity to Regents Park, the West End and numerous transport links.

Creative purchasers apply early.
GROUND FLOOR
TWO ROOMS
BATHROOM
BUILT-IN STORAGE
HIGH CEILINGS
PORTERED BLOCK
LONG LEASE
GOOD TRANSPORT LINKS

Flat for sale Hallam Street, Fitzrovia, London W1W

The Queen Sells off Stake in Regents Street

2010-07-15T12:45:00.001+01:00

The Queen is to sell off her holding in Regents Street in order to re invest outside central London to diversify her property portfolio. The Telegraph reports that 'A stake in Regent Street, the world's premier shopping street and now home to the likes of Apple and Ferrari, would be seen as a trophy asset for a foreign or domestic investors. Retail properties in the West End are already seen as attractive, with shops enjoying buoyant trading thanks in part to a weak pound boosting tourism.'

It is reported that the proceeds of the sale will be used for further redevelopment and to boost the area surrounding St James.

Flat for Sale, University Street, London WC1

2010-07-14T13:26:00.000+01:00

Property for Sale London Leasehold: £595,000

A lovely recently refurbished apartment situated on the second floor of this popular portered Art Deco block on the cusp of Fitzrovia and Bloomsbury. This bright flat benefits from generous reception space, two double bedrooms, two bathrooms and all rooms have south facing views over University Street.

This attractive property, in a well respected block with easy access to the West End and Regents Park, is an ideal Central London home.
ENTRANCE HALL
RECEPTION ROOM
SEMI OPEN PLAN KITCHEN
TWO DOUBLE BEDROOMS
BATHROOM
SHOWER ROOM (EN-SUITE)
PORTER
TWO LIFTS
COMMUNAL HEATING & HOT WATER
DOUBLE GLAZING

Flat for sale Paramount Court, University Street, London WC1E

RICS UK Housing Market Survey June 2010.

2010-07-12T12:18:00.003+01:00

Scotland and London buck the trend with rising house prices

RICS reports that forty percent more chartered surveyors reported a rise than a fall in house prices up from seven percent in May. Surveyors across the UK are still reporting house price rises in most parts of the country but the increase in supply is pushing many of the regional net balances towards negative territory.

The most notable exceptions to this trend are London and Scotland, says RICS Housing Market Survey published today.

This is broadly consistent with the latest numbers from the Nationwide Building Society which indicated that prices rose by more that 4% between the first and second quarters of the year.

Significantly, the net price expectation balance for Scotland suggests that this robust trend will persist over the coming months with seventeen percent more chartered surveyors expecting prices to rise than fall over the next three months. This is the highest rise recorded in the UK.

Newly agreed sales also turned positive with twenty percent more chartered surveyors reporting a rise compared with minus six percent in May. The sales expectation net balance remains positive, however it did drop in June from thirty four percent to sixteen percent which is the lowest number recorded since November 2009.

This coupled with the flatter trend in new buyer enquiries, dropping from twelve to three percent, suggests that transitional activity is likely to stabilise during the second half of the year.

House for Sale Great Titchfield Street, Fitzrovia, London W1W

2010-07-10T13:36:00.000+01:00

West End Property for Sale Freehold: £925,000

This architect designed gem of a house is hidden behind the period properties on Great Titchfield Street. Meticulously planned to maximise space and light, this unique property has the added benefit of a private roof terrace.

If you are looking for a stylish hideaway in this fashionable West End location then contact us for a viewing - you won't see it any other way!

House for Sale Great Titchfield Street, Fitzrovia, London W1W

UK Property Millionaires Increase Fivefold

2010-07-09T09:31:00.001+01:00

The number of property millionaires in the UK has increased roughly five times in the past decade. Around 132,000 homes concentrated mostly in London, are worth more than £1 million. Almost 27,000 properties existed at the turn of the Millennium.

However, the figure would have been higher, if there was no housing slump during the credit crisis, which resulted in 43,000 homes losing their millionaire status.

Almost 80% of the million pound homes are in London, with the “SW” postcode claiming nearly three in ten of the nation’s millionaire properties, according to Santander.

London’s “SE” postcode area has showed a 23-fold increase in its number of property millionaires in the past decade.

London Homebuyers Take 23 Minutes To Decide On Property Purchase

2010-07-08T09:51:00.001+01:00

Home Buyers typically spend just over 20 minutes viewing a property before they decide to purchase it, reports Walesonline.

The average person looks around a home for only 21 minutes before they decide to buy it, according to mortgage provider ING Direct.

The group said this was only a 10th of the time people generally took to choose a television package.

It is also well down on the 284 minutes people spent when they bought a new television set and the 164 minutes it took on average to choose a coffee table.

Around 44% of buyers said they felt under pressure to act quickly in case another person snapped up the property they were interested in.

While 26% felt that estate agents had talked up interest from other parties and 21% said they encouraged them to make a quick offer.

In 93% of cases where couples buy a property together they make a joint decision, but in the 7% of cases where they disagree, women are three times more likely to have the final say than men.

Johan de Wit, chief executive of ING Direct, said: “At first it seems strange that people will spend such little time making one of the most important decisions of their lives, but regardless of the state of the market, buyers are feeling pressured into making snap purchases to avoid missing out on the home of their dreams.”

Buyers in East Anglia are the quickest decision- makers, spending an average of just under 19 minutes looking around a property before they decide to purchase it, followed by those in the South East at 19.5 minutes.

People in Yorkshire and the Humber and London take the longest to make a decision, but even they spend an average of only just over 23 minutes looking at a property before they put in an offer.

PCP questioned 1,000 homeowners who bought a property during the past 12 months.

West End commercial property market thriving due to foreign investment

2010-06-30T11:55:00.001+01:00

London’s West End commercial property market is currently seeing a high level of activity, particularly from foreign investors, with several recent landmark sales in the office and retail markets.

Simon Taylor (FRICS), head of the commercial department at specialist West End estate agency, LDG, comments: “Although the pound is gaining strength, Central / West End of London commercial property investments still currently look cheap to foreign investors, hence significant recent deals such as the reported sale of Land Securities Park House development to a Qatari-backed investor for circa £250m.

“Because the property REITs are currently rebuilding their balance sheets and the banks are generally not lending on development, selling existing “oven ready” supply is one of the only ways commercial developers can raise capital, and whilst there is a significant amount of foreign money in the market to purchase, it makes sense to sell.

“Foreign investors want to buy tangible assets, and commercial property in London is deemed a safe bet, particularly as there are few places in the world with long leases with upward only reviews every five years; another attraction.”

Simon concludes: “We anticipate a continued strong market in the West End, particularly now the emergency Budget has been announced and there is more clarity on the detail of the Governments’ plans.”

For further information and to enquire about premises LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

Land Registry Report On UK House Prices In May

2010-06-30T10:28:00.001+01:00

May house prices down 0.2 per cent since April: average house price in England and Wales now £165,314

The May data from Land Registry's flagship House Price Index shows an annual price increase of 8.2 per cent. This is the seventh month in a row in which the annual figure has been positive and takes the average property value in England and Wales to £165,314. It is also the first time since March 2009 that the annual change figure has not increased from the month before.

The monthly change from April to May is a decrease of -0.2 per cent. This is the first negative monthly movement since April 2009.

All regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 14.2 per cent. The region with the smallest annual price rise is the North East with a movement of 1.8 per cent.

The South East experienced the greatest monthly rise with a movement of 0.9 per cent. The East Midlands region experienced the most significant monthly price fall with a movement of -3.6 per cent.

The most up-to-date figures available show that during March 2010, the number of completed house sales in England and Wales rose by 37 per cent to 48,577 from 35,449 in March 2009.

Capital Gains Tax

2010-06-22T16:45:00.000+01:00

Laurence Glynne, Partner of West End Specialist estate agency, LDG, said: “The 28% rise in CGT for higher rate tax payers as opposed to the feared 40-50% is good news for investors and the property market in general. It means that anyone holding back from putting their property on the market may consider their options more favourably, not only due to the lower than expected rate, but because they will be encouraged that investment buyers are unlikely to be deterred by the increase.

“Approximately 30% of our property sales last year were to investors, and we don’t expect a decline in investment purchases following today’s announcement. People have been prepared for the worst for the last few weeks, so this is more of a ‘bruise’ than severe muscular damage.”

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

Press comment re scrapping proposed private rented sector regulations

2010-06-10T17:24:00.000+01:00

Javier Carrillo, lettings manager at West End specialist estate agency, LDG, comments: “It is extremely disappointing that the new Government has decided not to proceed with regulating lettings agents. We believe that this decision has massive implications for the property market; it means that anyone without the legal and basic property knowledge is able to set themselves up to practise as an estate agent. This increases consumer risk because their money might not be protected – unregulated agents don’t always have professional indemnity insurance or audited bank accounts, and many hold their client’s funds with their own business funds which offers no protection if the agents’ business fails. For regulated agents like us, it also creates unfair competition as these unscrupulous agents will try to win deals by overvaluing properties, offering fake properties to attract customers.

“Estate agents already have a bad reputation thanks to the detriment caused by some unregulated lettings agents. There is no reason why a good estate agent wouldn’t sign up to regulations to enhance their standard and differentiate themselves from the bad agents. What’s more, agents like us are already registered with self-regulatory schemes such as ARLA and NAEA to offer all of our landlords and tenants peace of mind at the time of instructing us.
“We receive hundreds of calls a day from prospective tenants, current tenants and landlords requesting advice which we are proud to give, because we have acquired the knowledge from the various legal and comprehensive courses that are required to be a member of ARLA and the NAEA.”
For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

ENDS

Editors Notes

LDG is a unique bespoke West End estate agents established in 1987 by Laurence Glynne. Since being established, LDG has built a substantial client base and a comprehensive catalogue of property investors, purchasers and landlords who recognise LDG as estate agency market leaders in the prime West End areas: Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone. The company, and NAEA and ARLA member, has both a sales and lettings department, and has recently opened a commercial department to enhance its overall property service.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

New Council Powers for Garden 'Brownfield' Planning

2010-06-10T11:58:00.001+01:00

Councils and communities are being given new powers to prevent the destructive practice of 'garden grabbing' and to decide what types of homes are suitable for their area, Decentralisation Minister Greg Clark announced today.

Over the last decade, many councils have been left frustrated at being unable to prevent a dramatic increase in the number of new houses being built on previously residential land such as people's back gardens - up from one in ten to one in four between 1997 and 2008.

Planning guidance has classified gardens as previously residential land', in the same Brownfield category as derelict factories and disused railway sidings, robbing communities of green breathing space, safe places for children to play and havens for urban wildlife.

Mr Clark is today unveiling plans to take gardens out of the Brownfield category, a simple step that will dramatically transform councils' ability to prevent unwanted development on gardens where local people object and protect the character of their neighbourhoods.

Recent government figures suggest the proportion of houses built on previously residential land, such as gardens, increased from one in 10 in 1997 to one in four in 2008.

New build statistics show the decline in the number of houses built has largely been for 4+ bed houses, with small declines in 2 and 3 bed houses. There has been a corresponding proportionate increase in 2 bed flats

A Parents' Guide to Buy-to-let Student Property

2010-06-09T10:23:00.001+01:00

The Independent reports on the pitfalls and benefits of student buy to let property; As university students in the UK get exams out of the way, some will have at least half an eye on their accommodation for next year. Many will be turning to mum and dad for a helping hand: but for parents who can, investing in property for your child may be the best bet. However, with only a few months until the new academic year gets under way, now is the time to make a move.

"As young adults move away to university or enter their second year, many parents use the opportunity to purchase a second property, safe in the knowledge that they have tenants lined up to pay the rent. For those who can afford it, it is a way potentially to profit from an otherwise expensive experience," says Simon Thompson, co-founder and director of Accommodation for Students (Accommodationforstudents.com).

Student housing is a fairly resilient venture and there are considerable benefits over other forms of property investment. Universities across the UK are at, or near, capacity and need to find accommodation. Moreover, many professional landlords are hesitant to rent to students, which can mean that in some areas there is a shortage of student properties. Recent figures show that this lack of supply has caused rents for student property to increase by 19 per cent over the past five years.

In high-demand areas such as Cambridge and Oxford, you can expect higher rental incomes all year round, although some student lets may be empty during the summer months.

The latest figures from Accommodation for Students show London is the priciest place for students, with an average weekly rent of £104.13. Guildford is the more surprising entry in second place at £87.86 per week, while less fashionable towns such as Stoke-on-Trent, Hull, Middlesbrough, Crewe, Pontypridd and Stockton have average weekly rents of under £50.

"All the rules of a good buy-to-let property apply; centrally located with good transport links, access to green space and close to local amenities such as shops, bars and restaurants," says George Franks, sales director of estate agents Douglas & Gordon.

Financing a purchase of this nature, however, may not prove to be so simple. During the recession we saw lenders pulling out of the buy-to-let market, and the number of deals plummeted. Another potential barrier is that although buy-to-let properties are not usually regulated by the Financial Services Authority (FSA), when a property is let to an immediate family member it becomes a regulated buy-to-let mortgage.

"This narrows your options quite quickly because some lenders simply will not consider a regulated buy-to-let," says David Hollingworth, from broker London & Country.

In an already difficult market, parents without an impressive deposit may find they have few options. Principality Building Society currently offers a two-year tracker for buy-to-lets of this nature at 3.14 per cent above base rate, with a 3.50 per cent fee, and available up to 60 per cent loan-to-value (LTV). For those with only a 25 per cent deposit, NatWest offers a two-year tracker at 4.49 per cent above base rate up to 75 per cent LTV, with a £1,999 fee. Lenders will also insist that your rental income can cover the mortgage, and then some.

On top of financing obstacles, there are significant tax and legal implications when renting a property to students. First, landlords will have to pay income tax on the revenue generated from rent, minus any relevant expenses. You may also be taxed on any profits made when it comes to selling the property. Capital gains tax (CGT) is widely expected to be increased to the level of income tax, up to 40 or 50 per cent for higher tax payers, in the coalition government's emergency Budget on 22 June. However, experts say that few parents will be deterred by the proposed increase.

But there are a multitude of more practical requirements that can quickly add up, including gas and electricity safety certificates, landlords' insurance, and the houses in multiple occupation licence, which is compulsory for properties at least three storeys high and with at least five tenants. Also, if you don't want the trouble of chasing rent, and the general maintenance of the property, you may have to fork out for a management company to do this for you, which will take a large chunk of your income.

But, despite the headaches, there are significant tax breaks if you're willing to put the property in your child's name and they plan on living in the property throughout university.

This way, it becomes your child's principal private residence, so there is no CGT to pay, and it may not be included as part of your estate for inheritance tax (IHT) purposes. As an added benefit, the rent-a-room scheme allows your child to rent out a room and earn up to £4,250 per year tax-free, as long as communal spaces such as kitchen and bathroom are shared.

You may need to act as a guarantor to the loan and, again, finding more than a handful of willing lenders may prove hard. You'll also have to prove you're able to cover both the mortgage you're guaranteeing as well as your own. Bath Building Society offers a deal aimed at this market called the "Buy for Uni" mortgage, allowing for up to 100 per cent of the purchase price to be advanced, subject to a maximum of £250,000, though a collateral charge is required against the parents' house for anything above 80 per cent LTV.

"The mortgage is in the child's name and the lending is based on the rental income, although they may be able to take parental income into account as well if there is a shortfall. The pay rate is at standard variable rate [SVR], which is currently 5.10 per cent, and there would be a 0.5 per cent fee," says Mr Hollingworth.

Foreign students drive up rental prices in London’s West End

2010-06-08T11:31:00.001+01:00

Specialist West End estate agency, LDG, has noticed a trend for overseas students coming to study in London with increasingly high accommodation budgets. This, coupled with the lack of good quality rental properties within areas such as Bloomsbury, has lead to an increase in rental prices.

Javier Carrillo, LDG’s lettings manager, comments: “We are seeing foreign students with budgets of up to £1000 per week. They are not looking for what we’d class as a typical student pad; they usually want very high spec, centrally located, two bedroom flats or apartments.

“For most students, location is the key factor in choosing an apartment; they do not want to walk for more than five minutes to get to their university and, ideally, would like to see it from their window. Bloomsbury is a very popular location because it has good access to a number of universities including UCL and The London School of Economics. Security is probably the second most important element; most of LDG’s student clients are young and living alone, their parents are very concerned about safety and so a porter and CCTV are a big advantage.

“Most students renting luxury properties tend to be from Asia, The Middle East or Europe; Russia in particular. These groups usually have the biggest budgets and will very often pay by cash. We’re seeing a low number of UK students looking within the West End, probably because they have been priced out of the market.”

Unless a foreign student has a relative living in the UK, who can co-sign their tenancy agreement, the student must pay a minimum of six month’s rent up-front; Javier says that this is the case with around 90% of foreign student tenants. Six month’s rent on a £1000 per week flat comes to almost £25,000 and wealthy scholars are happy to pay this; Javier says: “Some students, usually in their first year or those who had previously stayed in halls of residence, want to arrange their accommodation early and then have a holiday, so they will begin renting a flat in June or July but not actually move in until September, thus the rent is being paid on the property three or four months in advance, with nobody actually occupying it.
For LDG, the student rental market is already very active in London, with June being one of the busiest times, but a second wave of viewings is expected to commence in early August.

LDG is currently marketing a number of rental properties which serve all of London’s top universities including; UCL, The London School of Economics, The University of Westminster and Regent’s College.

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

ENDS

Editors Notes

LDG is a unique bespoke West End estate agents established in 1987 by Laurence Glynne. Since being established, LDG has built a substantial client base and a comprehensive catalogue of property investors, purchasers and landlords who recognise LDG as estate agency market leaders in the prime West End areas: Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone. The company, an NAEA and ARLA member, has both a sales and lettings department, and has recently opened a commercial department to enhance its overall property service.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

Capital Gains Tax

2010-05-27T15:45:00.000+01:00

27th May 2010

Ben Everest, Partner of West End Specialist estate agency, LDG, said: “Property owners who could be most affected by the potential increase in Capital Gains Tax are those who are in retirement and had planned to sell in the next year or two to release equity for a pension, and those who have borrowed against their capital growth – via remortgaging – in order to fund other property purchases. If they sell under a 40% CGT, they may owe more in tax than the property’s equity – even though it has increased in value.

“In both cases, the best option would be to hold on to the property; in the West End, current rental yields are around 5% gross per year, and the longer you own the property, the more likely it is that rising rents will lead to yield increase. The majority of people who have property portfolios in the West End do so for the long term. Unless the implementation is April 2011 and landlords have plenty of time to get their finances together, the net result could be that even less properties come onto the market, potentially leading to higher prices for good quality property.”

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

Shaftesbury Announce Year Half Results For West End

2010-05-27T13:41:00.001+01:00

Shaftesbury, the West End of London “village” investor, today revealed a robust set of half-year results.Its three main districts are Chinatown, Covent Garden and Carnaby Street. Berwick Street in Soho and Charlotte Street in Fitzrovia are two emerging districts, where it is gradually increasing its ownership.

Property Week

To view a full list of Covent Garden flats for sale, or Fitzrovia flats for sale visit our website.

8 Rathbone, Rathbone Place, W1

2010-05-25T20:20:00.001+01:00

8 Rathbone is a unique brand new development by Derwent London Plc. Consisting of eleven apartments and planned over six floors,

8 Rathbone offers a selection of one, two and three bedroom apartments; two of which occupy entire floors. This high end development features air-conditioning as standard, along with wooden flooring, fully integrated fitted kitchens and satellite television/broadband connections. Other benefits include en-suite bathrooms (on nine units), double glazed windows, and separate storage cages.

There is also a lift and a secure video entry system. Suitably positioned on the borders of Fitzrovia and Soho this absorbing location offers an easy reach to some of London's most sought after restaurants and bars, along with enough shopping options for the most dedicated followers of fashion.

Within walking distance of a generous choice of independent and mainstream galleries and museums, Rathbone Place is also moments from the relaxing café and restaurant culture of Charlotte Street. Tottenham Court Road underground station offers easy access to the City and Canary Wharf.

If you seek a fulfilling lifestyle within the pulsating heart of London's West End, then 8 Rathbone Place maybe your best bet.

Tenants Prefer Energy Efficient Residential Property

2010-05-15T14:17:00.001+01:00

A growing number of tenants are looking for private sector landlords who can offer them energy efficient properties for rent reports the RLA. Britain’s Energy Saving Trust noted that today’s tenants are looking for comfortable rental homes that are also economical, when it comes to heating and electrical bills.

Additionally, environmental concerns have been front and centre over the past several years and more Britons are keen to reduce carbon emissions, starting in their own homes. According to the Energy Saving Trust, one of the steps that landlords might take is the installation of a condensing boiler, as well as an efficient heating system which incorporates heating controls.

The government is also keen to cut emissions and economize energy use for environmental reasons, but their efforts may not yet appeal to many tenants or homeowners. One of the more controversial plans to is to install “smart” meters in up to 47 million homes and businesses.

But according to a recent consumer preferences survey, the only way that most Britons would support network meters that give utilities remote control over their energy usage is if it results in discounts of between 10% to 20%. In fact, 59% of all respondents expected savings of at least 10% for them to support smart meters.

These statistics show that both tenant and homeowners are most interested in finding economical ways to heat their homes and nearly 75% of respondents indicated that they knew how to lower their energy usage and bills. One way to excel as a landlord is to be aware of how intent tenants are to be more energy efficient and ensure that all appliances in the rental property serve this goal.

Mortgage Lenders Interest Only

2010-05-14T13:59:00.001+01:00

Lloyds Bank has stopped offering interest-only home loans worth more than half a million pounds,reports the BBC. The lender will now lend sums of this size on a repayment basis only.It will no longer accept the promised sale of the house or business, or prospective inheritance, as proper repayment methods for any size of interest-only loan.

At the other end of the market The Post Office is offering a mortgage deal that requires just a 10% deposit in its attempt to become one of the UK's biggest mortgage lenders.Unusually, the deal is available on an "interest-only" basis as well as the normal "capital-and-interest" repayment method.This will make it cheaper and easier for some borrowers to afford the initial repayments.

The Post Office started lending in 2007 on a trial basis, but committed itself fully to the mortgage market last October."We are looking to be one of the top 10 lenders in the UK," said a spokeswoman.

Will Capital Gains Rise Affect Buy To Let Investment?

2010-05-13T13:51:00.001+01:00

The Times asks; Will buy-to-let investors lose out?

Capital gains tax will be raised in a new government policy to be included in an emergency budget. This could see a flood of properties for sale as buy-to-let investors look to beat the rise. Incoming chancellor George Osborne has just 50 days to present an emergency budget in which he plans to raise capital gains tax from 18% to 40% (or possibly 50%) on non-business assets.

Times readers left their comments which seem to either dampen the panic suggested, question whether the Tories would bring in such a tax rise or, less frequently, demand the announcement concern all sales 'from midnight tonight'- as follows;

Capital Gains Tax is only a concern for those considering getting out of the market.This applies to those landlords already considering selling up.

Where is the evidence that lots of landlords are abandoning their lettings businesses?

The average member of the National Landlords Association keeps hold of a rental property for 15 years.

This will not encourage panic-selling.

No government could raise VAT to 20% or make the coming public sector cuts while ignoring this low fruit on wealth that is not earned. It would ironic if it is a Conservative led government that makes the tax changes that Labour should have done back in 1997.

Denmark Street, Soho, London W1

2010-05-08T02:25:00.000+01:00

In September, 2009, 43 students from Temple University’s School of Communications and Theater arrived in London. For a semester, they studied British film, theater, mass media and advertising, among others. And for one course, they studied Londoners themselves.

Here's a great little film they made about Denmark Street.

To see the rest of the great stuff they came up with visit the site

LDG sees hub of activity in West End sales and lettings market

2010-04-27T14:10:00.000+01:00

The West End property market is currently flourishing, with price rises and a high demand in both sales and lettings for West End specialists, LDG, and contrary to reports that foreign buyers are driving the London market, 42% of LDG’s sales in the last year have been to UK buyers. In addition, property prices have risen around 10%, year on year, and competition means that a large number of sales are going to sealed bids.

Laurence Glynne, Partner of LDG, said: “The imminent election hasn’t dampened the sales market in the West End; vendors are still marketing their properties and there are a range of buyers who are all keen to purchase. Although most reports suggest that the London market rebound has largely been driven by foreign purchasers, a large number of our buyers in the last financial year (April 2009 – March 2010) were UK buyers, some of whom are seeking to invest their money in property whilst interest rates are low and their money is doing nothing in savings accounts. Interestingly, just over 60% of all sales were cash purchases; property is currently deemed a more attractive investment than stocks and shares because it’s a tangible asset, and historically, property in the West End approximately doubles every ten years, so although the market may fluctuate from time to time, in the long term, it is likely to present a good return on investment.”

The rental market too is experiencing a boom in prices, with rents increasing by around 5-8% from last year due to a lack of supply. Javier Carrillo, Partner in the LDG lettings department, said: “Accidental landlords who withdrew their properties from the sales market a year or so ago have since seen the sales market rise and as such, are withdrawing their property from the lettings market and trying the sales market again.

“Demand for rental properties changes depending on the economic situation and time of year. For example, we saw a big increase in Greek applicants when the economic crisis hit Greece last year. As we head towards the summer, demand from students will rise – there are around 15 universities in the West End. Many are students from wealthy families, some of whom have budgets of up to £1,000 per week for accommodation, which means they can live in property which is far from the kind of ‘student digs’ some of the older generation may recall! Also, the redevelopment of the BBC’s Broadcasting House on Great Portland / Langham Street – the largest ever capital development project for the BBC which is due for completion in 2012 – means that we are likely to see an increase in media-orientated applicants looking for property in the coming months.”

Laurence Glynne concludes: “As we had into the summer market, much will be dependent on how the financial markets react to the election, but for now, it’s ‘business as usual’ in the West End.”

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

ENDS

Editors Notes

LDG is a unique bespoke West End estate agents established in 1987 by Laurence Glynne. Since being established, LDG has built a substantial client base and a comprehensive catalogue of property investors, purchasers and landlords who recognise LDG as estate agency market leaders in the prime West End areas: Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone. The company, and NAEA and ARLA member, has both a sales and lettings department, and has recently opened a commercial department to enhance its overall property service.

For further press information, please contact Emma Ward Hunt at Foundation PR Ltd on: emma.wardhunt@foundation-pr.co.uk or telephone: 020 8542 7400 / 07989 979693.

Soho Commercial Property Agents

2010-04-13T20:13:00.000+01:00

Commercial Properties For Sale, Lease & Rent in Soho, London W1

Soho contains an intriguing concoction of offices, shops, restaurants,pubs and othe business premises and an unmistakable electrical current which makes it so unique.

Whether you are looking to sell or buy a commercial property in Soho, or wishing to let or rent an office, pub, bar, restaurant, shop, showroom, warehouse or workshop in Soho we realise it is an important and personal transaction for you.

As established commercial estate and letting agents, our partners and staff have an in-depth knowledge of the Soho commercial property market and will offer you honest and sensible advice.

Follow the links for more info on Commercial Properties in Soho, London W1

Stamp Duty Threshold and the London Property Market

2010-03-26T10:42:00.001Z

Increasing the starting threshold for Stamp Duty to £250,000 from £125,000 for first time buyers, will be be welcomed across the country; it was thought that the move will help 9/10 first time buyers.According to the site, FindaProperty.com, 43% of all properties currently for sale cost between £125,000 and £250,000, and with people buying at this range who will make the saving, the total saved in stamp duty from these sales could amount to a staggering £320,625,000.

But it is hardly likely to have the same impact in London and the South East where the cost of property is much higher and home-owners are more likely to be taxed by the chancellors measures; the increased stamp duty threshold is to be paid for by raising stamp duty on properties worth more than £1 million from 4% to 5%.

Comprando una Propiedad en Londres

2010-03-07T01:25:00.001Z

Propiedad en Londres: Informacion para el Comprador

Comprar su casa puede parecer un viaje sin fin o una simple caminata alrededor del edificio

El tipo de jornada que escoja solo depende de Usted. Si se prepara con anticipacion y planea su destino, Usted puede hacer de la compra de su casa una placentera y divertida experiencia. Comprando una Propiedad en Londres

LDG West End de bienes y agentes de arrendamiento de casas, adosados, áticos, estudios, pisos y apartamentos en venta y en alquiler en el West End, Fitzrovia, Soho, Covent Garden, Bloomsbury y Marylebone áreas del centro de Londres.

Piccadilly Circus Gets £14m Pedestrian-friendly Revamp

2010-03-04T12:55:00.001Z

BBC News are reporting that Piccadilly Circus will be made pedestrian-friendly as part of a £14m revamp, which will rid the busy central London junction of guard railings.
Westminster Council approved the plan that will see the area go back to what it looked like in 1963, as more than one kilometre of railings are uprooted.
A central island will be built along Piccadilly and Pall Mall and two-way traffic will be reintroduced.

Work will begin in November and is expected to end by December 2011.
As part of the revamp the pelican crossing in Pall Mall by St James's Square will be replaced with a zebra crossing and reintroduction of two-way streets from Piccadilly Circus along Piccadilly, St James's Street and Pall Mall is expected to reduce congestion in the area.

London Council Tax 0.1% Rise

2010-03-04T10:00:00.001Z

Council Tax in England will rise this year by the smallest amount since the tax was introduced in 1993, according to the country’s most authoritative survey, released today by the Chartered Institute of Public Finance and Accountancy (CIPFA).

The CIPFA survey shows that England will see a rise in the 2010/11 Band D average bill of 1.8% to £1,438.72. The rise in 2009/10 was 3.0% (£1,413.84) which was itself the lowest rise for 15 years.

London councils are recording the lowest rises of any region with many councils, particularly those in inner London, freezing or reducing their Council Tax levels. Overall, households in the capital can expect to see a small 0.1% increase.

English regions outside London will be subject to higher rises, with the South West expected to see the highest increase of 2.5%. The average increase outside London is 2.1%.

The survey predicts that Welsh Council Tax payers will have a rise in the Band D average bill of 3.6%, the highest in the UK. This will mean an average Band D payment of £1,125.77, which is still £312.95 lower than the average in England.

Most Scottish councils are expected to maintain a freeze on Council Tax levels for 2010.

The CIPFA survey, carried out in conjunction with the BBC, analysed the Council Tax settlements of more than half of English and Welsh local authorities, in what is the most comprehensive and accurate examination of town hall finances for the coming year.

Ian Carruthers, CIPFA’s Head of Policy said:

‘This 1.8% rise demonstrates that local politicians have generally heeded Government calls to avoid large increases. However, councils will be facing increasing financial pressures in the coming years, which could result in cuts in some services.’

Green Leases Introduced for April 2010

2010-03-03T09:58:00.001Z

The Residential Landlords Association reports that Britain is introducing so-called “Green Leases” in April and while the new scheme will at first only impact the largest commercial landlords and tenants, the programme’s success will determine whether or not it is introduced for the residential property sector as well at a later date. When a landlord and tenant sign a green lease, they agree to take measures that may reduce a given building’s carbon emissions, make the residential property more energy efficient and control waste.

The programme is seen as the first in a series of steps to impact the rental sector, which the government hopes will help it meet its ambitious target of reducing carbon emissions by 80 percent within the next 40 years. The Energy Efficiency Scheme amounts to a carbon trading programme, where landlords with properties that used more than 6,000 megawatt hours of energy in 2008 participate by lowering emissions. According to the plan, the largest landlords and organizations will have to buy allowances, in order to cover their carbon emissions.

Government officials, however, promise that the scheme will be revenue neutral, in that the money collected will be redistributed each year, based in part on how much a given landlord or organization has done to reduce its carbon emissions. But there are concerns among landlords that it may be difficult to ensure that tenants are also actively trying to be more energy-efficient, especially if they are not the ones required to pay extra for non-compliance.

This is why some landlords will turn to green leases, with some going as far as to stipulate financial penalties for tenants who sign, but do not make an effort to remain energy efficient. But some suggest that so-called “light green leases” will become more common, and these will encourage a concern for sustainability among tenants and will ask them to sign a memorandum of understanding, but will shy away from imposing financial penalties.

Over 65s Own Property Worth £765.18bn

2010-03-03T09:55:00.000Z

New research commissioned by independent equity release adviser Key Retirement Solutions has revealed that British pensioners have property wealth totalling circa £765.18bn.

The news comes as the housing market continues its hesitant recovery, and marks the launch of Key Retirement Solutions’ Pensioner Property Equity Index which intends to measure the property wealth of the over 65s every quarter.

Most property wealth is in the south east (£123.44bn) with London in second place (£122.65bn).

Business Development Director Dean Mirfin has stressed that the housing market was hard hit by the recent economic woe and emphasised the fragility of the recovery.

Mirfin went on to say that as many properties were purchased decades ago they nevertheless represent a phenomenal success in financial terms for the country’s pensioners, and offer a potential income unaffected by low interest rates which are making savings accounts less attractive.

Insurance Daily

61% of Renters Cannot Afford to Buy in 2010

2010-03-01T10:03:00.000Z

Nearly two thirds of tenants cannot afford to buy residential properties reports the Residential Landlords Association.Rightmove’s first Consumer Confidence survey for 2010 found that 61 percent of all tenants in Britain contemplated purchasing a home, rather than renting, but will not be able to do so in the foreseeable future, for financial reasons.

While real estate prices are still noticeably lower than they were two years ago, this decline in values has not been enough to give most tenants a realistic chance of purchasing their own home, without taking on a massive debt. Even when these loans are available, many tenants are also hesitant to assume such large mortgages at a time when the job market has yet to recover and when renting offers more flexibility to move from one region to another in search of employment.

The number of tenants who feel that residential property prices are too high for them to even consider a purchase has been rising for the past three quarters, according to Rightmove’s surveys. Many other tenants are simply unable to meet the more stringent mortgage requirements, especially the hefty deposits that are required for a successful loan application. The majority of tenants also indicated that they expected to continue renting for the foreseeable future.

Approximately 55 percent of respondents expected to rent for the remainder of the year and for as long as three more years, while nearly one third of all tenants (31 percent) anticipated renting for more than three years. Rightmove noted that the results of the current survey indicate that 2010 may very well be the “Year of the Landlord.”

London Councils Call for Housing Benefit Overhaul

2010-02-22T16:44:00.001Z

Six councils have called on the government to overhaul the housing benefit system, to give them the power to limit the cash paid out to claimants.
The local authorities, led by Westminster City Council, have written to work and pensions minister Yvette Cooper, to call for a complete overhaul of the system.

"Commonsense dictates that the current system is not fit for purpose and needs to be changed. This isn't simply a Westminster issue as it impacts on councils across London and the UK."

The letter says a system which pays families at least £500 per week in housing benefit – a figure far beyond the reach of most households – is ‘wholly unfair and plainly wrong’.

It adds: ‘With our local knowledge, we believe that local authorities are best placed to influence where residents should be placed… and what benefit levels are appropriate.’

Westminster’s cabinet member for housing, Philippa Roe, said: ‘Commonsense dictates that the current system is not fit for purpose and needs to be changed. This isn't simply a Westminster issue as it impacts on councils across London and the UK.

‘We will be looking to the government to take on board our recommendations to make the system fairer which is all the more urgent in today's very difficult economic climate.’

The letter forms the councils’ response to a government consultation on the future of housing benefit.

LocalGov

London Cycle Hire Scheme

2010-02-15T16:30:00.000Z

The Cycle Hire Scheme, coming to central London in summer 2010, will be a public bicycle sharing scheme for short journeys in and around central London. You'll be able to pick up a bicycle, use it as you like, then drop it off, ready for the next person.

Docking stations where you can pick up and drop off your bicycle are roughly in Zone 1 of the Tube Map. Eventually there will be 10,200 docking stations,more spaces than bikes, so that it will always be easy to drop off.

Cycle Hire

CML Response Urges Treasury Not to Regulate Buy-to-let

2010-02-15T16:20:00.001Z

The Council of Mortgage Lenders has today responded formally to the Treasury's consultation on whether to extend the scope of mortgage regulation.

CML director general Michael Coogan added:"While we support some of the proposals to extend regulatory scope, the Treasury and the FSA need to tread carefully to avoid unintended negative consequences. As far as buy to let is concerned, the regulatory proposals are barking up the wrong tree - for amateur property investors, poor investment advice is the issue, not the mortgage."

"The recently-published consultations from the Treasury and the Department for Communities and Local Government on the role of the private rented sector are far more relevant and influential in determining the role played by buy to let. The Treasury recognises that regulation has in the past dampened incentives to invest in the private rental sector. The proposals to extend mortgage regulation designed to protect home-owners to the buy to let sector would simply repeat this mistake."

CML

Will Estate Agents Shake the Hips?

2010-02-14T16:01:00.001Z

Estate agents are being accused of putting house sales at risk by ignoring the law on Home Information Packs and marketing homes before Hips are prepared. A trade body, the Association of Hip Providers (Ahipp), says mystery shopping exercises at estate agents’ offices in three London boroughs show at least 80 homes for sale without packs.

The body claims four council trading standards departments across the UK have issued fixed penalty notices on estate agents – the official sanction for breaching pack legislation – and says some councils are reporting offending agents to the Office of Fair Trading.The packs include title deeds, search information and energy efficiency data about the property for sale, and must be commissioned by the seller before a home goes on the market.

Those who start marketing a home without a Hip in place can be fined up to £200 a day, and if a purchaser’s conveyancing solicitor discovers the pack is missing the sale will fall through.Ahipp says some estate agents are “openly flouting the law” adding that the penalties served so far are the tip of the iceberg and there are “many more to come.”

Which? found that companies that specialised in preparing packs were generally cheaper than estate agents who offered the service in addition to their sales and marketing of the property. Even so, prices varied widely between direct providers, with some almost £200 dearer than others.

The fear among some in the property industry is that if the Tories remain favourites to win the election, some estate agents will not commission Hips on homes prepared for sale shortly before polling day in the belief that they will no longer be needed.

NBN

Stamp Duty Rush Caused 2-year December High in First-Time Buyers

2010-02-12T16:23:00.001Z

The number of loans to first-time buyers hit a two-year high in December 2009, driven by a rush to buy properties in the £125,000 - £175,000 bracket before the year-end stamp duty concession expired, according to figures released today by the Council of Mortgage Lenders.

The CML has also published new analysis showing how affordability, especially for first-time buyers, is complicated by the effect of low interest rates when capital repayments are taken into account.

December saw 24,900 loans to first-time buyers, the highest number since November 2007. At £2.9 billion, first-time buyer loans rose 26% from November both by volume and value.

55% of house purchase loans were on properties costing under £175,000 and therefore exempt from stamp duty, up from 51% in November. 10,300 first-time buyers and 11,200 home movers bought a property of between £125,000 and £175,000 in December, up 63% from 6,300 and 49% from 7,500 respectively from November. This clearly indicates a rush to complete purchases before January, when stamp duty would have added an additional 1% of the purchase price onto the transaction costs.

House purchase lending in general totalled 63,000 loans worth £8.5 billion in December, up from 51,000 (£7.1 billion) in November and from 33,000 (£4.4 billion) in December 08. The number of loans for remortgage stayed the same as November at 28,000, with the value falling from £3.5 billion to £3.4 billion, and was down from 41,000 transactions (£5.7 billion) in December 2008.

Bob Pannell, author of the research, said today:

“With 90% of loans advanced in December being repayment mortgages, it would seem appropriate to take capital payments into account when assessing affordability.

“Typical capital and interest payments for a recent first-time buyer would represent about 21% of pre-tax income. This is considerably more than the 14-15% that mortgage interest costs alone would be, and demonstrates why using initial mortgage interest costs to assess affordability risks giving an overly flattering picture."

CML

House for Sale Boards Banned in West London

2010-02-01T16:13:00.000Z

Hammersmith and Fulham council orders outsize signs to be torn down

House for Sale signs have been banned in west London after estate agents were caught breaking the law by sticking up massive boards.
"If we see a board and it is too big, then that constitutes a criminal act," Ryan Kristiansen, planning enforcement officer at Hammersmith and Fulham council, told Property Week.
The council gives estate agents a few days to take down signs that break the law and, if house-sellers don't play ball, out comes a £2,500 fine, plus £250 a day for each day the offending board stays put.
According to the law, boards can be 24 inches by 32 inches (about half a square metre), but plenty exceed this limit as they compete for attention.
While residents might be thankful that at last someone has taken an axe to the boards that disfigure many a London street, local estate agents aren't too pleased, though they admit they know they have been breaking the law.
londonnet

Ten Percent of Landlords Plan to Buy Residential Properties

2010-01-27T08:57:00.001Z

According to figures compiled by Paragon Mortgages, 10 percent of all residential landlords expect to purchase new rental properties within the next three to four months. Those in the buy-to-let sector that plan to expand their portfolios hope to do so during the first quarter and the most sought-after properties are terraced homes.

Landlords with only a small handful of properties increasingly prefer well-built terraced houses, as they tend to be easier to maintain and rent. In fact, 65 percent of all landlords expecting to add to their list of properties are looking to purchase terraced homes, while only one in four would like to buy a semi-detached house. An even smaller proportion (one in five) is looking to extend their rental business by purchasing a flat. But at the moment, Paragon found that the least popular option among landlords is to purchase a fully detached house.

Nevertheless, the continued lack of financing in the buy-to-let sector not only limits the ability of landlords to expand, but also to provide Britain’s growing tenant population a wide array of rental options. Yet this appears to be the ideal time to buy, with John Heron—Paragon’s managing director—noting that home values remain “soft,” while tenant demand is still high, and outstrips supply in much of London. The growth in the private rental sector, however, is not a new phenomenon. Over the past 17 years, the proportion of Britons renting homes rose from 9 percent to over 14 percent.

London Mayor Launches 'London Rents Map'

2010-01-25T15:22:00.001Z

The London Rents Map shows average private sector rents for different types of home across London. A range of further information is also provided for tenants and landlords.

The data on average rents is given at postcode district level (SW19 or E7, for example), and is based on a sample covering the last 12 months so does not fully reflect the most recent short-term trends in the market.

London Rents

Property Supply and Demand Tips in Landlords Favour

2010-01-25T09:24:00.001Z

A growing number of Britons who sold their homes last year but are finding it difficult to purchase a new property or receive a new mortgage are instead turning to the private rental sector in order to address their accommodation needs. According to statistics compiled by the Association of Residential Letting Agents (Arla), 54 percent of residential landlords found that more Britons are becoming tenants, including many former homeowners. Some observers have referred to these renters as “reluctant tenants,” in that they struggle to purchase a new home due to the low supply of properties in some areas, and very strict mortgage conditions throughout the country.

But Ian Potter, Arla’s operational manager, noted that there are benefits to renting, and an increasing number of Britons are taking advantage of the flexible lifestyle that being a tenant, rather than a homeowner has to offer. During a time of continued high unemployment and recession, for example, renting a flat or home makes it easy to relocate on relatively short notice, if one finds a job in another city or region. Homeownership, however, ties one down much more to a specific city and neighbourhood.

Another piece of good news for residential landlords is the finding that 41 percent of all Arla members found that they had more interest from prospective tenants than they had properties available for rent. This is in contrast to the 24 percent figure recorded last fall. As such, the balance between supply and demand has tipped in the favour of landlords and buy-to-let investors.

Barratt Developments Prosper On The Web and in London New Builds

2010-01-16T08:42:00.001Z

Barratt is to build thousands of homes in booming London.Barratt Developments chief Mark Clare today hailed the London property market and outlined plans to build thousands of homes in the capital.

He said: "The London market is the strongest in the country. Even with the economy as it is, demand is outweighing supply." Barratt plans to start building 3700 homes in London in the next six months.

Barrats also reported that the recent bad weather had led to a flurry of online enquiries as it reported stronger first-half trading, adding to hopes the worst is over for the sector.

Online enquiries more than doubled in recent weeks as a countrywide cold snap forced many people to stay indoors or work from home.

"People haven't been able to get to the sites, but the good news is that people have been doing an awful lot of shopping online," said Clare.

"I'd hope that once the snow clears, those people will visit our sites," he said, adding nearly all house purchases now originate from web enquiries, with 4,000 leads on average a week from its websites.

Buy To Let Landlords Confidence High For 2010

2010-01-15T10:15:00.001Z

The Young Index for the last quarter of 2009 reveal that buy to let landlords view 2010 as a good year for further investment;

99% of investors intend to hold their residential property investments for the next 12 months.

49% intend to hold their assets for at least 10 years (up from 44% in Q3 2009) and 22% of private residential property investors intend to retain their property investments for the next 20 years or more.

On average, residential property investors now expect to hold their property investment assets for the next 12 years, two years longer than this time last year.

59% of investors are considering purchasing additional residential property assets within London over the next 12 months, compared to 43% who are looking at opportunities in the UK outside of the capital. This compares to 33% and 8%, respectively, in Q4 2008 and is a continuation of last quarter’s upward trend.

The outlook for London property prices remains stable and is stronger than for the rest of the UK . 76% of investors believe that London prices will be at current levels or higher by this time next year (up from a low of 36% this time last year).

An increasingly large proportion of respondents (60% in Q4 2009, compared to 51% in the previous quarter) believe that UK property prices outside of the capital will rise within the next 12 months.

The expectation for the pace of property price recovery remains conservative. Landlords predict that average property prices across London will stand 0.7% higher by the end of 2010 – but that outside the capital, the UK will see a fall of 1.0% over the same period.

Perhaps unsurprisingly, 76% of respondents expect the Bank of England base rate to be higher than the current all time low of 0.5% by the end of 2010. But only 6% of respondents believe that it will have risen to more than 2.0% by the end of 2010, well below the long term average of 5.0%.

Despite reports of mortgage finance becoming more widely available of late, 39% of respondents cite a lack of appropriate mortgage finance as their current main concern, compared to just 28% this time last year.

Pointing to an increasingly positive outlook towards property prices, currently only 16% of landlords are hoping to see greater house price stability in the New Year, a marked swing from the 36% who hoped for increasing stability in Q4 2008.

Marylebone Lettings

Letting Agents; Beware of The Dodgy EPC

2010-01-11T13:56:00.001Z

Dodgy Energy Performance Certificates are being issued that are not worth the paper they are written on.

They are ‘strewn with schoolboy errors’ and ‘glaring omissions’, according to Communities and Local Government, in a warning to the accreditation schemes that are meant to police the regime.

CLG has accused the schemes of failing to catch unacceptable or invalid EPCs, and of allowing Domestic Energy Assessors (DEAs) to lodge reports when their membership has run out, or if they have been expelled from other accreditation schemes for disciplinary reasons.

In a letter from CLG, written to the accreditation schemes and leaked to the website Home Inspectors Forum, CLG also announces tougher disciplinary procedures that will now face the schemes if they fail to uphold standards.

There will now be spot checks and mystery shopping.

According to one of the accreditation schemes, NHER, more than half its DEAs have lodged less than 75 EPCs.

Separately, a leading EPC provider has warned that false economies are being made on ‘cheap as chips’ Domestic Energy Assessor (DEA) services and that it is unclear where the agent’s liability stands, if the agent has commissioned the EPC.

London's West End Dynamic Property Market

2010-01-09T22:33:00.001Z

The West End’s most quirky and bohemian quarter has never commanded the status that its location, at the very heart of London, deserves. One reason is the virtual absence of grand period architecture (Fitzroy Square is the exception). Much of the area was developed by small landowners rather than a single aristocratic estate. This led to a predominance of small and irregular streets rather than a grid-like network of roads and squares, which now gives Fitzrovia a distinct villagey charm.

Today, the area is popular with media companies, especially around the Charlotte Street heartland of bars, brasseries and boutique hotels, and it is here that Fitzrovia’s “first genuine loft apartments” have arrived on the market. A Twenties office block has been remodelled to provide eight rental apartments. It is a tasteful transformation by niche developer Urban Evolution, which is returning to its West End roots after undertaking a string of projects in Belgravia. Its trademark is classy, not opulent, architectural interior design.

Called Rathbone Lofts, the Fitzrovia scheme is a handsome brick-façade building with new factory-style, grey-framed Crittall windows. The apartments are above new ground-floor commercial premises already let to an advertising agency and have antique parquet flooring throughout, as well as bespoke oak joinery, column radiators, marble-clad bathrooms, handmade kitchens, exposed beams, high ceilings and double doors. It is a warm, comfortable and stylish look.Perched at the top of the building is a three-bedroom duplex penthouse with floor-to-ceiling windows, a big open-plan living space and a wrap-around terrace with views over the Soho rooftops. Rents range from £575 to £1,950 a week. For more information, call 020 7580 1010.

'Property transactions on this patch are continuing despite the wider market malaise'“They’re really cool pads and will strike a chord with local creatives,” says Laurence Glynne of estate agent LDG. “Renters tend to be a lot fussier than buyers. They want to live somewhere for a set period and if the place is not right, they won’t go for it, whereas buyers will say ‘I could do something with this’.

“I’m not saying it’s insulated from a recession but the West End is a dynamic place and much more complex than other areas; there’s always someone who wants to buy, sell, invest or rent.”

Agents In More Rural Areas Count Cost of the Snow

2010-01-08T13:52:00.001Z

The snow is likely to hit agents hard in the pocket, with forecasts that the deep freeze will last for another 10 days.

Agents in the worst-hit areas of white-out Britain have had to shut up shop. Others have been reporting cancelled viewings, with a number of potential sellers deciding to delay.

Telegraph Property Market Predictions For 2010

2010-01-07T18:22:00.001Z

Telegraph reports that the Home Counties will continue to be extremely sought-after, due to City bonuses and international buyers. Other strong areas include Oxfordshire, due to access to London and schooling; Gloucestershire, due to the beauty of the countryside and the pretty houses; Dorset, because of the shortage of supply over £3 million; and Hampshire because of commutability, quality houses and the existing wealth community.

Winners in 2010 will also include those with tidy rental portfolios. An undersupply of rentals in cities such as Manchester and Birmingham could drive rental values up by 10 per cent. Those who have dabbled in student accommodation (smart ensuites and studios rather than the old-fashioned digs we used to know), in the age of degrees for all, have done well. Student lettings have rewarded owners with 5 per cent increases in rental values for each of the past six years, and the year ahead promises the same.

Real Estate Values to Rise Modestly in Early 2010

2010-01-06T10:03:00.001Z

Residential property values are likely to start rising again by relatively modest proportions during the first months of 2010, with the Royal Institution of Chartered Surveyors estimating an increase of only around 2%. A more significant recovery, however, is unlikely in the coming months, as the economy will almost certainly continue to stagnate and unemployment will remain high for much of the year. In fact, RICS suggests that some of the value increases in early 2010 may be negated if prices start to drop again later in the year, as mortgages remain scarce and first-time buyers find it difficult to enter the property market.

In contrast to predictions released by RICS, Hamptons International’s prognosis is somewhat more positive. The organization expects values to rise anywhere from 3% to 5%. But both Savills and Capital Economics see property prices falling, from a minimum of 6.6 percent, to as much as 10 percent. An analytical piece published in The Times, however, calls for caution when exploring these predictions, as the most respectable organizations have had difficulty deciphering the precise course of the recession and real estate slump. While many experts assumed that 2009 would bring a long series of declines in property values, most of this depreciation happened early in the year and prices began rising through much of the UK in the early summer months. Repossessions in particular were lower than what was previously predicted, in part thanks to the fact that mortgage interest rates fell by significant proportions.

Some of the most impressive growth in 2009 occurred in the London area, particularly in Chelsea. Foreign demand was strong in this area—especially among Italian investors—and Nationwide found that prices rose by around 5.9 percent nationally.

RLA

Property Developers Oppose Planning Policy

2010-01-03T09:50:00.001Z

A coalition of some of Britain’s biggest property developers will launch this week to fight Tory party planning policies.

The group, called Building Futures, claims Conservative plans to hand over more power to local councils for planning decisions risks local councillors deciding applications on the basis of “political whims” rather than merit.

Land Securities, Britain’s biggest listed property company, and Countryside Properties are two of the most high-profile members of the lobby group. They argue the Tories’ localism agenda may encourage nimbyism and stifle development.

The councillors most opposed to housing developments were in the east of England — where 75% said targets were too high, followed by the southwest and southeast — areas where developers say new homes are most needed. Between 1997 and 2003 the amount of land being brought forward for development each year fell by 7%.

Building Futures plans to meet Bob Neill, the shadow local government and planning minister to present the findings from the survey and relay its concerns.

Emma Cariaga, head of strategic projects at Land Securities, told The Sunday Times the group wanted a national planning framework that could inform local decision-making.

She added that there should be a presumption in favour of development built into the planning system. “We want applications to be treated fairly and judged on merit, not on the basis of instincts or political whims. Weakness in the planning system will threaten economic recovery,” she said.

London Offers More than Tax breaks to Overseas Rich

2009-12-09T22:41:00.000Z

The expected pre budget report has stimulated media debate on whether to tax the rich at 75%, if this will drive them out of the country so reducing the overall tax revenues, or if a new surge of rich immigrants will simply replace those leaving. Immigration lawyers servicing rich visa applicants also report growing demand, with no noticeable drop in inquiries since the government revealed plans to hike tax rates.

It seems the UK tax laws are still attractive enough to lure a new surge of rich immigrants, arriving from the booming economies of Asia. Bond Street jewellers and West End Estate Agents report that the Chinese in particular have overtaken the Arab and Russian super spenders this year. But London offers more than tax breaks and shopping opportunities. London is the city of choice for overseas university students and the UK in general is first choice for private schooling of pre university children.

While commercial links with the USA means it becomes the destination for Business type degrees, London is chosen for its history and cultural benefits, for its creative, diverse multi-cultural educational sector. The Studyinlondon website describes London University life thus; “London is one of the most cosmopolitan places in the world. Where else can you order breakfast in Farsi, book a taxi in Urdu, ask for afternoon coffee in Arabic, and spend the evening chatting to your friends in Cantonese”

London is the city everyone wants to spend some time in and is seen as safe and secure for families and students to move to. Throughout 2009 it has become the emerging market for the overseas property investor, with reduced property prices and a weak pound; even as a short term investment a central London property for the duration of a degree course, could pay the overseas student tuition fees, student accommodation and living expenses. Although money is not the barrier for the new super rich immigrant, a good investment is always a bonus.

ARLA Fears For Private Rented Sector

2009-12-05T13:29:00.001Z

While 2009 was a difficult year for the entire property market, 2010 looks likely to present an even greater challenge for the private rented sector (PRS), according to the Association of Residential Letting Agents (ARLA). Yet there are also opportunities, in particular as availability of lending begins to increase while house prices are still historically low, enabling timely investors to purchase properties for the buy-to-let market.

Supply & Demand
The residential rental market will continue to stabilise in 2010, with property oversupply decreasing due to reluctant landlords leaving the market. Evidence of increasing sales in certain areas seems to indicate this trend.

“As demand rises, in particular due to a lack of social housing, there will also be mounting pressure on the sector to provide good quality rental properties,” says Ian Potter, operations manager at ARLA. “There has been little commitment from the Government thus far on economic measures to help the wider industry meet property demand, but increasing demand should have a positive effect on the PRS, creating opportunities for new and existing investors and driving standards up.

“In a recent debate the Housing Minister displayed a lack of empathy with those living in the PRS when he argued that it consists of three million households – when it in fact consists of eight million people. Perhaps we should question why he seems to have depersonalised the PRS, as the Government continues to evade implementing measures to help the sector.”

Rental arrears and mortgage defaulting
Should unemployment continue to rise, putting pressure on tenants’ financial stability, many will not be able to pay their rent – often because of deficiencies in the system with the Local Housing Allowance (LHA). While ARLA research has shown that the number of tenants struggling to meet rental payments dropped towards the end of 2009, other research shows it is still a problem that has a knock-on effect across the sector.

At the other end of the supply chain, landlords who default on their mortgage put their tenants at risk. The Government has already indicated a move to support tenants’ rights in this situation and may pass a Private Members Bill for reform in the first half of 2010.

“Mortgage defaulting is a problem that will not go away in a hurry, and we have long emphasised the importance of careful selection of both tenants and landlords to ARLA members, as well as the implementation of contracts and agreements,” continues Mr Potter.

“The Government’s proposed changes to improve standards should go a long way in increasing the desirability of the PRS to tenants as a choice of tenure. However, when the Government implements these changes it needs to ensure that they are fair on all parties in the transaction; landlord, tenant, agent and lender.”

Licensing of agents
Mr Potter says: “The Government has still not made good its proposal to introduce a regulatory scheme for letting agents, or a national register of landlords. Yet with increasing numbers of new landlords and new properties coming onto the market, as investors take advantage of the downturn in property prices, it will be crucial to ensure best practice and high standards across the sector.”

ARLA launched its own licensing scheme in May 2009, making it mandatory that any principle of a letting agency wishing to become a member of ARLA now has to apply to become an ARLA Licensed agent, and abide by ARLA’s rules and stipulations.

“Our scheme has been an overwhelming success, with support for ARLA membership up post-launch, showing just how keen ethical agents are to oust bad practice and promote high standards,” says Mr Potter.

Fuel poverty and energy efficiency
ARLA predicts that throughout 2010 standards will become an even greater issue, as homeowners and landlords alike are encouraged to make their homes energy efficient. Yet without incentives like tax relief, it will be difficult for an already struggling sector to make the necessary improvements.

“The Pre-Budget Report was a missed opportunity for the Government to show its commitment to the PRS – the boiler scrappage scheme, for example, should include rental properties and be part of Landlords Energy Saving Allowance (LESA).”

West End Estate Agency

2009-11-17T12:16:00.000Z

LDG - The Bespoke West End Estate Agency

Established in 1987, Central London Estate Agents LDG have become a leading force in the West End property market.

Founder Laurence Glynne's philosophy was "to create a unique specialist agency with its own personality and creative flair".

Our commitment to the individual and their needs has brought us repeat client business allowing us not only to survive but to grow through the economic downturns.

We have the largest shop front in the area and employ a dedicated company to deal with our website ensuring a constantly high profile on the internet. In addition we advertise on all major property websites to ensure maximum coverage.

Widely respected as "The West End Specialists", we have become a frequent commentator on the property market with articles and features in the national press and regular radio and TV interviews.

Living in Fitzrovia

2009-11-14T12:12:00.001Z

Fitzrovia: The West End's Rising Star

Charlotte and Goodge Streets are Fitzrovia's better known social nerve centres, but the real gems can be found tucked away in the area's backstreets and various mews.

Newman Passage is an innocuous little pedestrian thoroughfare which links Newman Street to Rathbone Street, while Great Titchfield, Foley and Langham Streets are also popular focal points for wining and dining.

Gastronomic rivalry is close at hand in nearby Market Place and Great Portland Street, which are both only a few minutes walk from the bustling artery of Oxford Street, making Fitzrovia the perfect West End location.

And with its famous landmark, the BT Tower, souring 580 feet above the streets, you will never have trouble finding your way home.

Five Buyers for Every House on the Market

2009-11-12T13:39:00.001Z

For every property on the market there are five potential buyers looking to snatch it up, new research has discovered.

A study by the National Association of Estate Agents (NAEA) found estate agents had an average of 287 prospective buyers on their books in October.

The average number of properties available at estate agents was 57.

The high demand has bumped up prices slightly, but has not translated into sales.

House prices increased 1.2% in October, but estate agents sold an average 7.7 properties each during the month, down from 8.5 in September.

Gary Smith, NAEA president, said: “There is strong demand for property and more optimism in the housing market than we have seen for months.

“This is good news for the recovery of the market and for the British economy in general.”

First time buyers accounted for 22% of sales in October, down from 26% in September, but more than double the proportion of first time buyers in October 2008.

Upturn in Letting Activity

2009-10-26T09:54:00.001Z

London is leading the rest of Britain, with inquiries for office space in the capital reaching the highest net balance since the third quarter of 2007.

The biggest rise in confidence has been in the office market followed by the industrial sector, the survey showed.

London holds on as top European City

2009-10-16T17:28:00.000+01:00

According to the Estates Gazette, Cushman & Wakefield have reported that London has retained its position as the best city in Europe in which to locate a business for the 20th successive year.

Paris took second place in C&W’s 2009 European Cities Monitor with Frankfurt third.

James Young, C&W’s head of City offices, said that while London had been through a turbulent time since the collapse of Lehman Brothers in 2008, the survey was evidence that it remained Europe’s leading business and financial centre.

He said: “Although office space remains relatively more expensive than in other European capitals, costs have come down considerably this year. Occupiers looking to locate here will find historically low rents, which are likely to remain competitive until well into 2010.”

Ben Everest of LDG said “The results in this survey are replicated in our experiences of the market this year; central London is a popular choice for the international buyer. 44% of all residential sale transactions have been to purchasers based outside of the UK. With 27% of all sales going to non-EU based purchasers. Cash is still king, and a weak pound and low UK interest rate has meant that 67% of all properties sold where bought with cash, with the majority of properties being bought as investments or London bases.

Central London Lettings Agents

2009-10-12T13:00:00.000+01:00

LDG have operated as a unique bespoke estate agent tailor-made for selling and letting residential properties in the central nerve of London's West End, for over 20 years.

As Autumn approaches so the need for West End tenants increases. We are aware that the run up to winter is an important time for West End landlords, with the influx of visitors, including students and those employees being transferred from other countries, in special need of a central London place of residency.

Fitzrovia and Bloomsbury are incredibly popular areas for short and long term property lettings, and the huge market demand needs to be taken advantage of. To accommodate this growing need LDG estate agents is presently expanded its Central London property lettings department.

Flats & apartments for sale and to rent in Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone

Estate Agents Warn Of Decreasing Interest In Property Ownership

2009-10-05T10:38:00.001+01:00

The recession has led to thousands of Britons giving up on the dream of owning their own homes, says a survey by the National Association of Estate Agents (NAEA).In some British cities, as many as 30 per cent of adults no longer wish to own property, citing high prices and fears over redundancy as reasons.

The cities with the largest percentage of adults no longer looking to own property are Cardiff (30 per cent), Manchester (27.7 per cent) and Belfast (25 per cent). At the other end of the spectrum, 12.5 per cent of adults in Liverpool, 11.1 per cent in London and 10.3 per cent in Southampton are more optimistic about getting on the property ladder.

The lack of enthusiasm for all things property related is perhaps understandable in light of news showing that mortgage lending conditions are still tight. Bank of England figures released last week show a fall in the number of new mortgages in August, the first drop in 10 months. The bank's quarterly credit conditions survey showed that approvals slipped from 52,404 in July to 52,317 in August. This is about half the level of mortgage loans seen at the height of the property market boom.
The NAEA says that the recession alone cannot be blamed for the pessimism about owning property and that the Government and lenders should shoulder some of the responsibility for the market torpor.

"The Government has so far refused to create a level playing field for house-hunters by reforming stamp duty, a tax on aspiration," says Peter Bolton King, chief executive of the NAEA.

Central London Estate and Letting Agents

2009-09-29T13:10:00.001+01:00

LDG The West End Specialists

Established in 1987, Central London Estate Agents LDG have become a leading force in the West End property market. Founder Laurence Glynne's philosophywas 'to create a unique specialist agency with its own personality and creative flair'. Our commitment to the individual and their needs has brought usrepeat client business allowing us not only to survive but to grow through the economic downturns.

Our highly qualified staff work as a team and with their wealth of local knowledge can offer unrivalled advice in both sales and lettings. Property is a 'people' business and we pride ourselves on our friendly no-nonsense approach.

Our clientele, like our properties, cover a wide spectrum and our staff are adaptable and work to the highest industry standards. LDG covers the central core of the West End incorporating Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone. We sell, acquire and rent all types of properties from vast period houses to pied a terré studios - each receiving the same attention to detail when marketing.

We have the largest shop front in the area and employ a dedicated company to deal with our website ensuring a constantly high profile on the internet. In addition we advertise on all major property websites to ensure maximumcoverage. Widely respected as "The West End Specialists", we have become a frequentcommentator on the property market with articles and features in the national press andregular radio and TV interviews.

LDG continue to grow and strengthen and as one of the leading independent agents in London you can feel confident that if you join our pool of clients ranging from film stars to students, developers to corporate investors you will receive a friendly, hardworking, professional service.

At LDG we get results - after all, we want you to come back!

Live West End... think LDG
Residential sales, Lettings and management, Retained clients' purchase, Commercial acquisition

Live West End... think LDG

020 7580 1010 www.ldg.co.uk

39 Foley Street, London W1W 7TP

FITZROVIA SOHO COVENT GARDEN MARYLEBONE BLOOMSBURY

Letting Agents See The Full Impact Of Crisis

2009-09-24T08:58:00.001+01:00

Around 65% of agents said they had seen an increase in the number of people falling behind with their rent in the past six months.
A further 93% said they had also seen a rise in the number of tenants haggling with landlords about rent since the beginning of the year, according to the Association of Residential Letting Agents (Arla).
The group, which questioned 730 letting agents, said this trend was not just being caused by tenants experiencing financial problems, but was also likely to be due to people trying to cash in on falling rents due to an oversupply of properties available to let.

Ian Potter, operations manager of Arla, said: “Tenants who have become unemployed and applied for Local Housing Allowance will automatically fall into the late payment category, as the benefit is unhelpfully paid monthly in arrears when rents are due in advance.

“There’s been a lot of talk about the Homeowner Mortgage Support scheme of late but as far as I can see, tenants are being forgotten completely. That’s inexcusable in a climate such as this.”
Sam Younger, chief executive of Shelter, said: “As unemployment rises and the recession begins to bite, more and more people across the country are struggling with their housing costs.

“While we welcome the raft of initiatives the Government has introduced to protect homeowners in mortgage arrears, Shelter would like to see further attention given to supporting tenants who are finding it just as difficult to make ends meet.”

London Letting Agents

2009-09-22T13:08:00.001+01:00

Javier M Carrillo - MARLA

Colombian born and with strong international banking experience, Javier decided to diversify into the central London and West End property market in 2003.

Since joining LDG he has driven the property lettings department forward creating one of the most successful letting agents and property management companies of its kind in the West End.

Javier combines experience and professionalism with genuine warmth and a desire to get the best possible results for both tenants and landlords and was recently made an associate partner.

London Letting Agents
DD: 020 7290 0596
E: javier@ldg.co.uk

Central London Estate Agents

2009-09-15T13:06:00.001+01:00

Clare Moll - MNAEA
Born in Northumberl and Clare came tos tudy in London at The Royal Academy of Music and went on to have a career for several years as an operatic soloist.

She joined LDG shortly after its inception in 1987 and became a partner in 1995.

She has a 'hands on' approach to all aspects of the cenral London real estate business from acquiring specific buildings for clients, advising on new developments to the general day to day runnung of the real estate agency.

London Estate Agents
DD: 020 7290 0591
E: clare@ldg.co.uk

Disney & London’s Christmas lights

2009-09-14T02:24:00.000+01:00

The Walt Disney Company has signed a deal with the City of London, Oxford Street and Regent Street to provide this year’s Christmas lights across the capital.

Illuminations in the three areas will be themed around Disney’s new film version of Charles Dickens’ A Christmas Carol, which will have its world premiere in London on the evening of Tuesday, November 3, when the lights will be turned on simultaneously.

West End Property Revival

2009-09-12T02:22:00.000+01:00

The Daily Mail reports that the West End property market sparked to life today as separate companies signed two of the biggest rental deals since the beginning of the recession.

Insurance entrepreneur Clive Cowdery, founder of the Resolution investment firm, agreed to rent office space in 23 Savile Row for £91/ sq ft.

And General Atlantic Partners, an American private equity group, took rooms in the same building for £85/sq ft.

London Estate Agents

2009-09-08T13:04:00.001+01:00

Ben Everest

A philosophy graduate with a passion for property, Ben has been working in the West End residential property market since early 2001.

Head hunted by LDG on the strength of his outstanding success as a senior sales negotiator with a renowned Covent Garden estate and letting agency, Ben has been a partner at LDG since 2007.

When he is not throwing himself into the West End property market, he enjoys running and travelling.

London Estate Agents

DD: 020 7290 0592
E: ben@ldg.co.uk

Flat for sale Holborn, London WC1

2009-09-08T02:30:00.000+01:00

Share of Freehold: £410,000

Flat for sale Eagle Street, Holborn, London WC1R

This unique ground floor courtyard one bedroom flat offers a special London base with a modern urban style, featuring airy open living accommodation with exceptional outside space. The property owns a share of the freehold interest and is conveniently and quietly located within minutes of the West End and Holborn underground station.

RECEPTION ROOM
OPEN PLAN KITCHEN
ONE BEDROOM
SHOWER ROOM
PATIO COURTYARD
ADDITIONAL STORAGE
CLOSE TO UNDERGROUND

London Estate Agent

2009-09-01T12:59:00.001+01:00

Laurence Glynne - FNANEA

London Estate Agents LDG's Senior partner Laurence founded LDG in Marylebone's Queen Anne Street in 1987, with just a desk and a word processor.

After a hotel management career he cut his property teeth in St John's Wood, Mayfair and Knightsbridge then finally decided to go it alone after he set up an agency in Edgware Road.

Well known and respected in the industry, a passed active NAEA (Central London branch) committee member, his opinion is often sought by the press and media.

He continually exploits his agency experience acquiring individual properties and developments making LDG the independent West End property success story it is today.

London Estate Agent
DD: 020 7290 0594
E: laurence@ldg.co.uk

Bloomsbury London WC1 Estate Agents

2009-08-29T02:00:00.001+01:00

Bloomsbury is the area east of Tottenham Court Road, north of New Oxford Street, west of Southampton Row, and south of Euston Road.

Ideally located in one of London's most vibrant vicinities, Bloomsbury is situated in the borough of Camden, sandwiched between the financial district and the West End. Its central locale is ideal for indulging in London's cosmopolitan flair and is in easy walking distance of Soho, Covent Garden, Fitzrovia and an array of other West End attractions.

For more information on the Bloomsbury area of Central London

Guide to Bloomsbury, London WC1

Bloomsbury Property Blog

Search our Property Sales and Lettings in Bloomsbury London WC1

Bloomsbury WC1 flats and apartments for sale

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Flat for sale in Covent Garden WC2N

2009-07-27T06:05:00.000+01:00

Flat for sale Garrick House, Garrick Street, Covent Garden WC2N

Garrick House is perfectly positioned in the heart of Covent Garden, just a short stroll from the Piazza and Trafalgar Square.

Presented in good condition this two bedroom, two bathroom apartment is situated on the third floor (lift) of this sought after portered purpose built block.

With endless entertainment opportunities on your doorstep and easy access to public transport, and with a price to sell, early viewing is recommended.

For more information on this flat for sale in Covent Garden, London

Flat for sale Brewer Street, Soho, London

2009-07-26T06:02:00.000+01:00

Situated on the second floor of a converted period building, this spacious (704sqft) one bedroom apartment offers a prime position for those seeking all things Soho.

Features include a tripled window reception room with direct views over Brewer Street, solid oak flooring and a separate contemporary fitted kitchen along with a large double bedroom and spacious bathroom (including roll top bath) this apartment shall not be missed out on.Brewer Street offers easy access to both Piccadilly Circus and Leicester Square underground stations.

For more information on this flat for sale in Brewer Street, Soho, London

Flat for sale Grays Inn Road, Bloomsbury

2009-07-25T05:59:00.000+01:00

An attractive and well maintained Ground Floor, one bedroom flat which has the benefit ofhaving its own South-facing patio/garden, situated in a 1930's Art Deco block andsuperbly located for the newly renovated Brunswick Shopping Centre and Exmouth Market as well as within walking distance of Russell Square Underground Station.

RECEPTION WITH OWN SOUTH-FACING PATIO/GARDEN
BEDROOM
OPEN PLAN KITCHEN
BATHROOM/WC
WOOD LAMINATE FLOORING
CARETAKER

For more information on this Flat for sale Grays Inn Road, Bloomsbury

West End pub for sale

2009-06-22T12:28:00.000+01:00

A rare opportunity to purchase a grade II listed freehold public house moments from Trafalgar Square. Set over six floors, this attractive period gem is steeped in history and is offered in good condition with the option of vacant possession. Our client has gained planning permission to turn the premises into either a private member's club or a single residential dwelling.

Licensed freehold buildings within the West End are seldom available and this opportunity allows a discerning buyer to create a unique residential home or a commercially viable member's club.

Freehold: £2,999,000

‘West End for 2012’ Conference

2009-06-19T12:42:00.000+01:00

New West End Company and Heart of London Business Alliance brought together 150 major retail, property and leisure businesses at the ‘West End for 2012’ conference today to plan how London can best leverage the opportunity of London 2012.

The task force, made up of public and private sector members from across the two Business Improvement Districts (BIDs), will act to maximise the commercial opportunity of the Olympics and position the West End during London 2012 as the recognised location of the shopping and entertainment centrepiece of London.

Boris Johnson, Mayor of London, said: 'Even in these tough economic times London is still the place to be, with a recent report confirming that the capital has, for the seventh year in a row, retained its position as Europe’s most attractive city to invest in.

'London’s West End plays a significant role in the capital’s success story, offering the world’s greatest shopping destination and attracting millions of visitors from across the country and overseas each year.

'The 2012 Olympic and Paralympic Games will deliver much more than just six weeks of sport and I am delighted that New West End Company and Heart of London Business Alliance are leading by example, setting up a task force which will drive forward action and investment in the area and maximise the full commercial opportunity of London 2012.’

Covent Garden Estate Agents

2009-06-12T02:13:00.000+01:00

Covent Garden is in the borough of Westminster and is loosely bordered by Charing Cross Road to the west, New Oxford Street to the north, Kingsway to the east and The Strand to the south.

Covent Garden is fairly traffic-free and despite its mish-mash layout is easy to navigate. Neal Street, the main drag, is paved for pedestrian’s making it a safe pleasure to explore, especially in the summer when crowds can be overwhelming.

For more information on the Covent Garden area of Central London

Search our Property Sales and Lettings in Covent Garden London WC2

Pedestrianised Oxford Street pulls in 500,000 shoppers

2009-05-26T12:49:00.000+01:00

Up to £50m was spent in London’s West End stores on Saturday as 500,000 shoppers took advantage of a traffic-free Oxford Street.

Entertainment was provided in-store and on the street as buses, taxis and cars were barred between 12noon and 5pm. New West End Company said the shopping mecca benefited from the “staycation” trend – where Brits choose to holiday in the UK rather than abroad in order to save money.

New West End Company’s chief executive Richard Dickinson said: “We hope it will give Londoners and those from other parts of the UK a great reason to rediscover the West End – with its fantastic breadth of retail across 600 stores, great galleries, superb shows, restaurants for every pocket and much more besides.”