Two thirds of consumers surveyed said property prices will be the same or higher in 12 months’ time, up from 62% a year ago.
Just 13% believed it was a sellers’ market.
However Rightmove said deeper analysis showed that both findings masked significant regional and local variations which provided further evidence of an acute north-south divide and a property market pock-marked with localised micro-markets.
Miles Shipside, director of Rightmove, said: “Our survey shows that sellers in the south should have more reason to be confident than those in the north, though even within regions there is evidence of variations in confidence in localised micro-markets.
“In these micro-markets, the combined impact of demographics, employment and mix of stock go a long way to determining the local market confidence and, in turn, market performance.
“On the surface it looks as though potential homemovers are feeling a bit more positive about the outlook for property prices.”
Tuesday, January 31, 2012
Monday, January 30, 2012
Global Commercial Investment Property Dominated By 30 Cities
More than half the recent global investment in commercial real estate found a home in just 30 cities with a quarter spent in London, Tokyo, New York, Hong Kong and Paris, according to real estate services company Jones Lang LaSalle, reports Reuters.
In a report released on Wednesday, it said it expects major cities in emerging markets to increasingly become viable contenders for real estate investment dollars, expanding its list of 30 "alpha" cities over the decade.
By 2020, the list likely will broaden to the top 50 with investment spreading to such cities as Mexico City, Delhi, Guangzhou, Houston and Istanbul, Jones Lang LaSalle said.
Those cities were attracting global corporations, who are most often tenants, it said. Yet, as the quality of the buildings there improve and the real estate markets become more transparent, and the buying and selling becomes easier, these markets become safer for investment.
The study included investments in shopping centers, malls, office buildings, warehouse and distribution centers, and hotels. The report does not include apartment buildings.
Within 10 years, the bulk of commercial real estate investment will be in assets located in 300 cities where technology enables large global companies to operate in more cities, Jones Lang LaSalle said. Those include secondary and tertiary cities in China as well as those in more mature economies such as Austin, Texas.
Even with that expansion, traditional real estate investment markets will retain their top positions, especially those in the United States, said Jeremy Kelly, a director of global research for Jones Lang LaSalle and author of the report.
"While, the Asian/Pacific story is very compelling, and many real estate players are focusing on the growth opportunities there, we shouldn't forget the chunkiness, size and growth potential of many U.S. cities," Kelly said. "They are among the most innovative, and they are huge cities. Eleven of the top 30 in 2020 will be in the United States."
In a report released on Wednesday, it said it expects major cities in emerging markets to increasingly become viable contenders for real estate investment dollars, expanding its list of 30 "alpha" cities over the decade.
By 2020, the list likely will broaden to the top 50 with investment spreading to such cities as Mexico City, Delhi, Guangzhou, Houston and Istanbul, Jones Lang LaSalle said.
Those cities were attracting global corporations, who are most often tenants, it said. Yet, as the quality of the buildings there improve and the real estate markets become more transparent, and the buying and selling becomes easier, these markets become safer for investment.
The study included investments in shopping centers, malls, office buildings, warehouse and distribution centers, and hotels. The report does not include apartment buildings.
Within 10 years, the bulk of commercial real estate investment will be in assets located in 300 cities where technology enables large global companies to operate in more cities, Jones Lang LaSalle said. Those include secondary and tertiary cities in China as well as those in more mature economies such as Austin, Texas.
Even with that expansion, traditional real estate investment markets will retain their top positions, especially those in the United States, said Jeremy Kelly, a director of global research for Jones Lang LaSalle and author of the report.
"While, the Asian/Pacific story is very compelling, and many real estate players are focusing on the growth opportunities there, we shouldn't forget the chunkiness, size and growth potential of many U.S. cities," Kelly said. "They are among the most innovative, and they are huge cities. Eleven of the top 30 in 2020 will be in the United States."
Saturday, January 28, 2012
Private Rented Sector Growth; Landlords Add to Portfolio as Long Term Investment
Each quarter,Young Index research gauges market sentiment within the residential property sector, polling Young Group's client base of around 500 active landlords who hold UK property assets.The latest Young Index report of Private Rented Sector sentiment shows that 19.1% of landlords added additional residential property assets to their portfolios during 2011.
The activity was driven by strong positive expectations for both capital growth and income returns for the year ahead.
London clearly leads the way with 85.1% of respondents expecting rents in the capital to continue to rise throughout 2012 and a full 100% of landlords predict that property values in London will be at current levels or higher by the end of the year.
Interest rates are widely expected to remain low. 58.3% of landlords expect the Bank of England base rate to remain static throughout 2012.
Of those who do see a rise on the horizon, their average prediction for Q4 2012 is less than half a percentage point higher than the current all time low of 0.5%, at 0.78%.
Undoubtedly, current low costs of finance represent a short term fillip but landlords clearly see the Private Rented Sector as a long term investment class.
Data from Young Index Q4 2011 show that 36.9% of landlords intend to hold their property until 2031. The average future hold period across all respondents was 15.4 years.
Neil Young, CEO of Private Rented Sector specialists, Young Group, who carry out the quarterly research comments:
"Without a doubt, the appetite from private investors in the PRS for additional investments is extremely strong.
"The London rental market is particularly strong and demand from tenants seeking quality PRS accommodation shows no sign of abating, buoyed by a population that is spending longer than ever living in rented homes and increasingly living in solo households."
The activity was driven by strong positive expectations for both capital growth and income returns for the year ahead.
London clearly leads the way with 85.1% of respondents expecting rents in the capital to continue to rise throughout 2012 and a full 100% of landlords predict that property values in London will be at current levels or higher by the end of the year.
Interest rates are widely expected to remain low. 58.3% of landlords expect the Bank of England base rate to remain static throughout 2012.
Of those who do see a rise on the horizon, their average prediction for Q4 2012 is less than half a percentage point higher than the current all time low of 0.5%, at 0.78%.
Undoubtedly, current low costs of finance represent a short term fillip but landlords clearly see the Private Rented Sector as a long term investment class.
Data from Young Index Q4 2011 show that 36.9% of landlords intend to hold their property until 2031. The average future hold period across all respondents was 15.4 years.
Neil Young, CEO of Private Rented Sector specialists, Young Group, who carry out the quarterly research comments:
"Without a doubt, the appetite from private investors in the PRS for additional investments is extremely strong.
"The London rental market is particularly strong and demand from tenants seeking quality PRS accommodation shows no sign of abating, buoyed by a population that is spending longer than ever living in rented homes and increasingly living in solo households."
Thursday, January 26, 2012
Property Searches Online Increase In First Days of 2012
The number of people searching for a new property online has continued to grow and that can only be a positive sign for the housing market.
According to Rightmove, the number of people turning to the net to look for properties in the first ten days of this year was 27 per cent higher than in the same period in 2011.
Selwyn Lim, director of Mouseprice, believes that this is an encouraging indicator that the market will have a buoyant 2012, but also believes that it is a direct result of people switching from looking in newspapers to using their computer instead.
“It is definitely a positive indicator. I would water it down a little because of some elements. One is the shift in behaviour of more and more people searching online – it is a trend that has been going on,” he said.
“Since the internet began, more people have been searching online and that trend is continuing.”
Rightmove also reported that there was a 1.4 per cent rise in asking prices in the first week of the year.
London Housing Market News
According to Rightmove, the number of people turning to the net to look for properties in the first ten days of this year was 27 per cent higher than in the same period in 2011.
Selwyn Lim, director of Mouseprice, believes that this is an encouraging indicator that the market will have a buoyant 2012, but also believes that it is a direct result of people switching from looking in newspapers to using their computer instead.
“It is definitely a positive indicator. I would water it down a little because of some elements. One is the shift in behaviour of more and more people searching online – it is a trend that has been going on,” he said.
“Since the internet began, more people have been searching online and that trend is continuing.”
Rightmove also reported that there was a 1.4 per cent rise in asking prices in the first week of the year.
London Housing Market News
Tuesday, January 24, 2012
Mapesbury Conservation Area Refurbishment Project for Sale
Tarranbrae, Willesden Lane, Brondesbury, London, NW6
A ground floor1260 Sq Ft purpose built flat in one of Mapesbury Conservation Area's popular blocks only a few minutes' walk to Kilburn and Willesden Green (Jubilee Line) underground station.
This spacious flat is in need of modernisation and benefits from a 20'x17' reception, two 17' double bedrooms, further single bedroom and two bathrooms. There is a fitted kitchen/diner with oven/hob and hood and washing machine and all the bedrooms have fitted wardrobes.
The block benefits from off street parking, wonderful communal gardens, a porter and the service charge does include heating and hot water.
This flat will give the purchaser the chance to stamp their mark on this great sized flat.
Large London Flat for Refurbishment Investment
Sunday, January 22, 2012
Kentish Town House With Planning for Development
Freehold Residential Development Property for Sale
Kentish Town
Grafton Road
London
Greater London
NW5
Net Saleable: 1350 sq/ft*
£ 650,000
Grafton Road is popular road in the heart of Kentish Town. The development is close to the amenities, shopping & transport facilities of Kentish Town and Chalk Farm as well as being directly next door to the recently refurbished Grade II Listed Victorian Sports centre and Swimming pool.
Planning permission has been granted for the construction of a mid terrace house arranged over 3 floors.
The houses comprises a large reception/kitchen diner on the ground floor and 4 double beds and 2 bathrooms on the upper two floors.
The property will also benefit from a rear garden and terrace.
Net Saleable 1,350sq.ft
London Investment/Development Property for Sale
Friday, January 20, 2012
London property market hit as major project stalls
Reuters reports London's commercial property market suffered another major setback as a deal fell through to let one of the biggest future office schemes in the City financial district.
Anglo-French developer Hammerson said law firm CMS Cameron McKenna has pulled out of talks to pre-let a third of the 600,000 square feet, 485 million pound ($741 million) Principal Place scheme in Shoreditch, which a source said will delay the April start date for construction.
The central London commercial property market, which rallied between summer 2009 and autumn 2011, is now starting to feel the effects of economic uncertainty.
Five central London skyscrapers being developed by firms including Land Securities and British Land have only signed one office pre-let deal between them.
London developers are looking to exploit a shortage of top quality offices in the City district but have struggled to attract tenants amid the global financial turmoil.
"I have consistently said that in current conditions we would not expose our shareholders to excessive risk through building London offices on a speculative basis, which remains our policy," Hammerson's Chief Executive David Atkins said in a statement on Monday.
At 1123 GMT, shares in Hammerson were down 0.7 percent, underperforming a 0.3 percent fall in the broader index of UK property stocks.
"If this means Cameron McKenna are definitely out of the market rather than going somewhere else it doesn't bode well for City tenant demand this year," said Alan Carter, an analyst at Investec.
Wealth manager Schroders shelved a deal to move into the Walbrook building near the Bank of England at the eleventh hour recently due to the uncertain economic outlook.
Anglo-French developer Hammerson said law firm CMS Cameron McKenna has pulled out of talks to pre-let a third of the 600,000 square feet, 485 million pound ($741 million) Principal Place scheme in Shoreditch, which a source said will delay the April start date for construction.
The central London commercial property market, which rallied between summer 2009 and autumn 2011, is now starting to feel the effects of economic uncertainty.
Five central London skyscrapers being developed by firms including Land Securities and British Land have only signed one office pre-let deal between them.
London developers are looking to exploit a shortage of top quality offices in the City district but have struggled to attract tenants amid the global financial turmoil.
"I have consistently said that in current conditions we would not expose our shareholders to excessive risk through building London offices on a speculative basis, which remains our policy," Hammerson's Chief Executive David Atkins said in a statement on Monday.
At 1123 GMT, shares in Hammerson were down 0.7 percent, underperforming a 0.3 percent fall in the broader index of UK property stocks.
"If this means Cameron McKenna are definitely out of the market rather than going somewhere else it doesn't bode well for City tenant demand this year," said Alan Carter, an analyst at Investec.
Wealth manager Schroders shelved a deal to move into the Walbrook building near the Bank of England at the eleventh hour recently due to the uncertain economic outlook.
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