Category: property (15)

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

Home staging is an important part of selling your home. Especially with the upcoming generation of home buyers, visuals are everything.

Here are 5 tips that really do work when staging your home.

1. Rent furniture that appeals to the majority.

Take the time to choose items that almost everyone would like and would really draw out the positives in each space. If you have a weird corner or nook, make sure you dress it up so instead of it being an awkward area you show the potential it has by furnishing it.

2. Clean up your curb appeal.

This is especially important for taking a photo. Even if you know you plan on selling next year, during the summer take a photo when your property looks best so you have it posted on our website your home will give your potential buyers and idea of what the home looks like in summer even if it’s winter when they buy the house.

3. Rip off the wallpaper (unless it’s really nice wallpaper).

Home buyers love neutral, clean walls. Help them envision their home by taking down your wallpaper or even wallpaper borders that could distract them from seeing their own decor in that space. This is such a simple item to do and yet many homeowners just leave their personal touches without thinking how it might affect the prospects view of the place.

4. Light it up. No one wants to live in a dark, dreary place. Invest in good lighting fixtures and curtains that allow the natural light in when staging your home.

5. Invite the outdoors in. There is just something about having plants incorporated when staging your home that instantly draws the eye. Especially if someone is seeing your home during the winter, plants bring a sense of peace and prosperity to a home’s zen.

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This is one of our properties we have for sale in Brighton which produces a perfect example of these 5 points. This is perfectly staged for potential buyers to see the properties full potential showing it in a white setting with furniture fitting the room’s shape. At the same time producing light and bringing elements of the outdoors inside.

Given the nature of the UK property market, it is easy to see why home owners are keen to add as much value to their home as they possibly can. While there are many ways in which you can make your home look better or feel more comfortable, it can be harder to add genuine value. This is why it is best to listen to the property experts before investing time and money into home improvements.

As you would expect, different experts hold different opinions on what will provide most benefit when adding value to a home. This can seem frustrating to some but it means that homeowners have a number of options to choose from and they can choose an option that best suits their budget or the current condition or layout of their home.

An extension

There is a wide range of possible extensions to choose from, which makes it difficult to note a price for this level of work. Extensions can range from two-story improvements that practically double a house in size to adding a small single story room.

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A loft conversion

Given that adding an additional bedroom to your property is said to add an additional 9-10% of value to your home, converting your loft into a bedroom is a great choice for many people. If you are currently only using your loft for storage or no purpose at all, it makes sense to convert it. You need to make sure that converting your loft doesn’t impact on any other living space in your home, but if it doesn’t, you can expect to get a good return on your investment.

Again, the variances involved with loft conversions means it is difficult to state a price you should be paying for this work. A minor loft conversion can cost around £15,000 while many people will expect to pay between £20,000 and £40,000 for a larger conversion.

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An additional bathroom

Having an en-suite or additional bathroom can add a lot of utility to your home and property experts predict that an additional bathroom can add 6% to the value of your home. Depending on the size of the room or the materials being used, the cost of a new bathroom can range from £2,500 to £7,000 and beyond depending on your choice of fittings and labour.

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An improved kitchen

Kitchens have been consider to be a key aspect of making a home more attractive and adding value to your property of late. There has been a greater acceptance of the fact that the kitchen is the hub of family life, making it an important part of the home. Studies suggest that the average cost of a new kitchen comes in at around £8,000 but a new kitchen can add around 6% value to your home so often this can be seen as a good investment if you were considering selling the property in the coming years. A new kitchen, bathroom or extensive will help increase the level of sale ability to your property too.

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A Conservatory

While a conservatory will minimize the amount of space that you have in your garden, it provides you with an additional room. This is also a very pleasurable room which means that there is a lot of benefits to be gained from adding this style of extension. You can expect a good standard of conservatory to add around 5% to the value of your home while the cost of a conservatory can be anything between £4,000 and £10,000 if not more in some cases depending on the size, shape and design.

If you are looking to upgrade the standard of central heating, you can expect to pay around £3,500 and the expected impact on value is likely to be around 5%. This may be one of the more cost-effective ways to add value to your home but it is a decision that every property will need to make. Some of these options will impact on your day to day life more than others, which means you need to think about any impact on your family or home life while work is being carried out.

All of the images use on this blog are properties we have for sale. For more information on our properties:  https://www.mishonwelton.com/ 

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.

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.

Average house price in the South East now £266,729
Average house price in the South West now £197,085
Average Semi-detached home in England & Wales now £178,746
Average Detached home in England & Wales now £300,464

Are you a nosey neighbour? Do you spend your spare time perusing property websites? Well, you are certainly not alone. We are a nation of property obsessives with very good reason. Our homes are our castles and becoming a homeowner or even climbing the ladder in the UK is a huge challenge and aspiration for many.
More than 38 per cent of Britons (two in five of us) have checked the price of someone else’s home online in the past year – including the properties of neighbours, family, friends and colleagues, and even ex-partners.

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The research also claimed that 10 per cent of people looked online at the home of their colleagues, while 10 per cent snooped on their potential new partners, and with a further 9 per cent prying on ex-lovers.
The study uncovered that 2.6 million self-confessed ‘property addicts,’ browsing online property sites at least once a day to keep a check on prices, design trends and daydream about their future home. The survey also suggested that 63 per cent of Britons admit to window shopping online for home that they have no intention of buying.
Other reasons people used property websites include checking on local property prices, assessing future potential areas in which to live and fantasising about homes they simply can’t afford.

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