Category: Property News (32)

Property is a better investment in Brighton than in leading university cities including Oxford and Cambridge.

Student accommodation investments ranks the city third, behind Edinburgh and Bristol but ahead of the Oxbridge towns.

Factors including average cost, rent charges and growth in house prices, the cities have each been given a score out of ten. Brighton gets 7.8.

It also analysed average graduate income to conclude that Edinburgh was the best investment and of the 24 cities considered, Aberystwyth in west Wales scored lowest.

Student lets are generally seen as a great investment, there will always be a reliable level of demand and universities can often be really helpful in pointing students your way.

Brighton is always expanding in property and there’s going to be to be a new planning application for 59 new homes and a new Co-op supermarket on Kingsway.If approved by Brighton and Hove City Council, up to 25 jobs could be created with £90,000 being generated through council tax rates.

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A decision on whether the application should get the green light is expected to be made on October 25th.

AS ONE OF THE MOST POPULAR SEASIDE DESTINATIONS IN THE UK, LIFE IN BRIGHTON AND HOVE IS NEVER DULL. WITH A FULL SOCIAL CALENDAR TO MARK ALL OCCASIONS IN STYLE AND SUMMER SUNSHINE COMPLEMENTED BY ITS FAMOUS BEACH, THE CITY HAS ALWAYS RANKED HIGHLY IN UK-WIDE HAPPINESS AND QUALITY OF LIFE SURVEYS.

The area is a great place to live for all ages, and a large number of international buyers have set their sights on the Brighton and Hove property market to access its world-renowned university and colleges, but what should they be looking out for to find the perfect property?

PROPERTY TYPE

Property type is an important factor when considering maintenance, management, and its longevity as an investment. A modern building will be easier to update and maintain than a period property, but may lack the character that is synonymous with Brighton and Hove’s period buildings. The Brighton property market is characterised by its diversity, from white, gentrified property along the seafront, to a colourful mix of styles which are popular amongst younger buyers. There are many options to choose from in the Brighton market so seek professional advice before moving forward.

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UNDERSTAND THE CURRENT MARKET

According to a Centre for Cities report published this year, Brighton is a city of renters, ranking third out of 63 UK cities and towns. Brighton has all the attributes of a property hotspot, but its housing stock is quickly sold due to high yields in the rental market. In order to find real success, you must have an insight into market activity. The property market is buzzing with an influx of prospective landlords ahead of upcoming buy to let and second home stamp duty charges in April. Once this 3% surcharge hits, the number of landlords looking to buy property may reduce and the process of buying a property may become easier. An increase in interest rates will also reduce the number of UK mortgages on offer which will price some out of the market. If you have the money to pay upfront, you will have the upper hand once both financial measures are introduced.

INVESTMENT LOCATIONS

Students and their families looking for a great investment area in Brighton have many to choose from, and with many more property developments on the horizon, the market will undergo yet more growth over the next four years. Beach-front properties in and around its garden squares – including Sussex Square, Brunswick Square and Palmeira Square – are recurrently popular high-end property neighbourhoods, while different property pockets away from the seafront provide a mix of large Victorian and Edwardian homes, for example Preston Park and Seven Dials. Take note of where each university and college building is located to map the best neighbourhoods as not all facilities are located within the inner city.

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HOW TO SPOT A GOOD STUDENT AREA

Finding a student hotspot is easy when you know how. The best areas are located near transportation links, unique places to shop and attractive places to eat and drink. What is next door is important as is the street itself: what are the views like? Is the street clean? Is the area quiet and conveniently placed near amenities in the city? Expect to pay more for a property that ticks the boxes, however, this can be offset by its annual increase in value.
Long-term options 

Once you’ve bought your dream Brighton property, consider your long-term options so that your asset does not go to waste after you or your children have finished college or university. You may decide to become a property freeholder so that you can lease your property to tenants for a better return – this option is unique to the English market. Alternatively, you may decide to sell the property after a few years of annual price rises, or become a landlord yourself and divide the property to increase its earning potential as a buy to let or student property.

According to the British Council, the UK attracts more international students than any other host country in the world, and with 34 UK institutions now inside the top 200 of the 2015 Times Higher Education World University Rankings, it is clear why so many choose to study here. For more information on buying, selling or renting in Brighton and the options available to you, contact our office on 01273  778 877

For the second year running BN3, which is our beautiful Hove has topped the list of hotspots for young professional between the age of 25 to 44 year olds looking to buy a new home according to new research from Lloyds Bank.

The BN1 postcode in Brighton was also on the list of hotspots. Brighton and Hove is particularly attractive to the young and ambitious, with a diverse population as well as the availability of independent shops, bars, restaurants, music venues and commuter links to London.

Resplendent with acres of Regency townhouses, terracotta mansions and elegant mews, Hove is one of the coasts most colourful quarters. With the lawns running in parallel with the lively beach, summer evenings barbecuing with friends and long winter walks make the place a beautiful place to exist, young professional or not.

Brighton & Hove is where England’s seaside living goes from cold to cool… If you want to live in the most desirable place in the England and Wales then give Mishon Welton a ring on 01273 778 877 or browse our properties online.

Prospective buyers considering shared ownership can now take advantage of a powerful new calculator, enabling them to work out the total cost of purchasing a share of their property over the full mortgage term, not just the first year.

Crucially, the Shared Ownership Calculator also enables users to effortlessly ‘stress test’ their borrowing against future rent and interest rate rises, or service charge changes — even letting them drill down into individual years to see the full monthly impact.

The ability to ‘staircase’ to 100% ownership of a property is integral to shared ownership’s appeal, but to date stair casing calculators have simply provided a Yes/No estimate of whether purchasing an additional share is affordable.

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The Shared Ownership Calculator enables users to see the full financial cost of stair casing multiple times and at any point in a mortgage, helping them to plan a strategy to reach their full ownership goal.

The new tool has been launched at a time when more people are now eligible for shared ownership following the raising of the income limits to £90,000 for London and £80,000 for elsewhere in the UK.
Before there wasn’t any tools available to help give people a stress-less test to maintain payments when circumstances change in the future, which they invariably do.

With certain other calculators, the ‘What ifs’ and potential risks facing borrowers seemed to be an afterthought rather than something that’s integral to the purchase process. With house prices still very high in certain areas of the country and income limits also recently increased, shared ownership is only likely to gain in popularity. Hopefully this calculator will help people to better understand the full financial impact and risks before they commit.

The latest research has found that, on average, British seaside towns have enjoyed a 32% house price rise over the past decade, rising from from £166,565 in 2006 to £219,386 in 2016 – equivalent to an average increase of £440 per month.

According to the report, Scottish seaside towns dominate the list of areas with the greatest price growth, with seven of the top 10 located in Aberdeenshire, which for much of the period has been well served by growth in the oil and gas sector.

Brighton recorded the greatest increase in value outside of Scotland (59%), jumping from £214,863 to £341,235 over the decade. Other seaside towns in England with the best price performance include Whitstable in Kent (53%), Shoreham on Sea in West Sussex (53%), Leigh on Sea in Essex (52%) and Truro in Cornwall (50%).

Seaside towns are highly popular places to live, offering sought-after scenery, weather and lifestyle which no doubt come at a price. They also attract those looking for holiday properties, which add upward pressure on house prices, which our research shows have increased by an average of £440 per month since 2006.

This is a perfect reason why you should have a property in Brighton because you will never loose money on them because there’s so many benefits to live in a seaside town that there will always be a market.

Screen Shot 2016-05-20 at 17.32.36Now that the June edition of Absolute magazine is out on the streets we can publish the article that Danny Norris, Director wrote last Friday (13/05/2016) voicing his opinions on Brighton & Hove’s short term property outlook.

If you would like to see the online version here is the link to the Absolute Magazine June edition, The article is on page 65 Click Here…


Here is the copy of the Article:


I am writing this article the day before Brighton & Hove Albion’s final match of the season and I can only think of reasons to compare the current market with the situation BHAFC find themselves in before the big decider. They have had a superb season but the uncertainty of the outcome of the match will mean a considerably different future for the club and its city in the coming years.

The Brexit match is still a month away but in full swing and I can only hope that the arguments both sides believe in do not affect the last few years we have had of economic stability and security that has made them special. With Brighton & Hove having experienced a amazing growth over this time, it is clear that the referendum is one of a number of factors contributing to a slowdown of a  London property market on which we so depend.

A recent Zoopla report suggested a dampening outlook on the overall pattern of the national property market, stating that vendors are accepting large discounts to help jump start the interest in their homes. Londoners, who would normally move their properties very quickly are finding it is taking a little more time and a little more negotiation to agree a sale. Whilst this hasn’t dulled enthusiasm for moving to our beautiful city, the reality is that this years buyers, particularly after taking into account the stamp duty and taxation changes around housing, are a little more cautious. The “panic buying” of 2015 has gone, and with it so should some of the unrealistic asking asking prices set by over over excited estate agents to their enthusiatic clients.

At Mishon Welton we have had a great few months even excluding the figures from the ‘Buy to Let’ rush that caused a flurry of activity at the end of March. The market has since stabilised and I consider it a good moment for the more experienced investor to invest as the panic is now over. With an increased standard of property perfect for this market it is now much more focused on the quality/value equation even though the stamp duty change is now firmly in place.

With this comes more letting properties on the market so the cost of rent has seen a slight reduction but there is still a big demand for landlords with 2/3 bedroom garden flats and mid-sized family homes. Couple this with the Brighton & Hove micro business environment with a lot of small tech and creative firms flourishing, we are experiencing strong demand for nice mid-range properties for professional people tempted to dip their toes into life by the sea.

Life is good in Brighton & Hove whatever the state of the market. I really hope that you have had a glass of champagne to celebrate the promotion of Brighton & Hove Albion to the top tier of football. We are definitely lucky enough to live in a top tier city with no chance in going down a division.

I hope we are now lucky enough to have hindsight plus one.

Danny NorrisDanny Norris
Director – Mishon Welton
13–05–16

The south east of England has been stealing the limelight from London as ‘the’ place to live and work and the Brighton & Hove property market has gone from strength to strength since the election this year. Brighton and Hove property prices rose by more than 11% between June 2014 and June 2015 and cheap mortgage deals have maintained a buoyant house buyers’ market.

The Brighton market is as much about quality of life as it is about investment. Brighton welcomes visitors from around the world each and every day but for residents, the appeal of seaside life doesn’t just stop after the weekend. Once people do relocate to the city, they rarely leave!


Work and play

Families choose Brighton for its range of properties on the market in a distinct selection of property areas. Fresh graduates from the University of Brighton, ranked in the UK’s top 25% of universities for world-leading research, can also live in the city after their degree thanks to its large amount of rental accommodation on offer. Due to its large volume of students, Brighton boasts a large buy-to-let market and was named the best place for the fastest-growing buy-to-let yields in the UK in 2014; in May 2014, the average rental yield stood at 6.7%. Hanover is one of the best areas to find a large selection of student property.

Brighton’s bustling business scene is another reason why people choose to relocate to the city. Brighton was named as the best place to start up a small business this October and has the fourth largest number of start-up businesses in the UK. As the cultural capital along the coastline, Brighton boasts one of the most packed events calendar in the UK, which is great for the local economy and residents.

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Current and future property

Away from the bright lights of the seafront and its bright white Regency and Georgian townhouses, there are many other property pockets to tempt buyers and renters. Victorian property surrounding Preston Park is popular with young families, while residential Hove has Victorian, Edwardian and semi-detached rental and for sale homes on the current market.

This distinct contrast between city and seafront property has created a vibrant property market that is inclusive for every generation.The report notes that property prices are around 44% higher than the England and Wales average and the provision of all types of housing, for all budgets, is now a top priority. Numerous projects are now underway, including a 853 home development in Brighton Marina, and the redevelopment of London Road and Circus Street.

We continue to be excited by Brighton’s sheer range of properties on the market and are eager to watch upcoming developments rise up and transform recognisable spots across the city.

It seems that Brighton certainly holds a lot of good property investment opportunities for investors who invest in the right properties.
The most popular and in demand properties are studio flats, 1 bed flats and 2 bed flats where tenants will generally do a flat share. These types of properties are most certainly what investors should be looking to invest in as they will rent out easily and will offer good returns over the medium to long term. However, there are 3 opportunities that investors could employ in Brighton..

Investors could target the city centre young professional market and invest in studio apartments or 1 and 2 bed flats. Studio apartments can be purchased for around £115,000 and a good one bed flat can be bought for around £140,000. Both of these kinds of properties offer good rental returns and have good capital growth potential over a 5 to 10 year period.

Your next strategy would be to target the town’s student market. This is a wise choice for many reasons because there will be no lack of students looking to rent and there will be a good student market year on year. The returns on student lets are also good compared to other areas of the rental market. However, competition amongst landlords will be high and suitable properties maybe difficult to get hold of. So you will need to be patient in order to find the right properties to buy.

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Your final strategy is to refurbish or renovate properties and either rent them out or sell them on. This is always a sound strategy to employ in any town or city but Brighton will hold many suitable projects as many of the properties in the town are very old and there will be many great property bargains out there if you look carefully enough. Projects to look out for are converting old town houses or terraced properties into self contained studio flats, or refurbishing old terraced houses and turning them into a modern living environment whilst keeping all of the traditional features which buyers love. If you need help in finding a project please call us on 01273 778 877

If you want to increase your rental profits, you will have to consider putting a larger deposit down or have a long term investment strategy so that you plan to grow your investment over a 5 to 10 year period.

As regards to your investment strategy, you will see the best returns if you have a medium to long term investment strategy of 5 to 10 years. This is probably the safest strategy as you are holding onto your investments over an extended period of time where hopefully property prices will rise meaning that you can build significant equity up in your investments. This is a wise and safe strategy for all property investors.

London homes have earned owners almost £200 a day on average already this year as prices have continued their remarkable surge. Local property markets across most of the city have risen strongly — despite the slowdown in some central areas — further widening the yawning wealth gap between the property haves and have-nots.
The average daily increase in a London home’s value between January and March was £197, equivalent to £71,905 a year, analysis of Land Registry data reveals. That is almost twice the average London salary of £36,258.
The most dramatic gains have been in once unfashionable areas in east London and the outer suburbs, as first-time buyers seek more affordable neighbourhoods. The biggest rises were in Lewisham, where prices went up £385 a day, equal to more than £140,000 a year. It was closely followed by Hackney, with prices up by £343 every 24 hours, and Barking & Dagenham, London’s cheapest local authority area, with £293 a day.
Homes in Kensington & Chelsea, the city’s wealthiest borough, have risen by “only” £169 a day. Central London’s property market has been hit by stamp duty rises on £1 million-plus homes. Uncertainty over the EU referendum in June has also deterred foreign buyers.

Recent figures suggest that help from parents to get their children on the property ladder, will help to finance 25% of UK mortgage transactions this year, making The Bank of Mum and Dad one of the country’s top ten lenders.
It is estimated that parents will provide a total of £5 billion worth of deposits for more than 300,000 mortgages, purchasing homes worth £77bn.
But this comes with a warning that relying on parental support might soon be unsustainable as parents could be giving away more than they can afford. The report, from Legal & General pointed to the disparity between wage growth and house prices – with the latest official figures showing average annual pay rises of around 2% currently at a time of house price increases of 7.6%.

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Its report said parental contributions already made up more than 50% of the wealth of the average household in London when property was excluded.
It described that scenario as a “tipping point” – adding: “Families clearly cannot continue to use all of their net wealth to help their offspring onto the housing ladder without putting their own financial stability at risk”.

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