Friday, 30 December 2011
Kensington and Chelsea are UK's MOST expensive areas!!!
New research published today revealed that within the London boroughs of Kensington and Chelsea are 7 streets that are homes to the most expensive real estate in the UK.
Just the corner from the soon to be the home of the Duke and Duchess of Cambridge, Kensington Palace, lies Hill Square which is in in the heart of fashionable Holland Park. This street has been hailed as Britain's MOST expensive residential street, with an average price of £4,863,000!!!!
Seven streets within the Royal Borough are in the list of the ten most expensive in the country. These include Drayton Gardens with an average price of £4,428,000, Dawson Place at £3,891,000, Duchess of Bedfords Walk at £3,862,000 and Cadogan Square at £3,678,000.
The research released by Lloyds TSB stated that the most expensive street in last year's survey, is the second most expensive this year with an average price of £4,826,000. Parkside is one of two streets in Merton in South West London amongst the ten priciest. The other is Cedar Park Gardens at £3,596,000.
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Thursday, 29 December 2011
Future of private lettings in 2012 looks uncertain with mixed outlook....
According to the Association of Residential Lettings Agents, the challenging conditions that the private rented property sector faces in 2012 could spark a drastic improvement in standards.
With the current imbalance in supply and demand set to continue in 2012, the prediction by the Association states that there is likely to be a rise in arrears and repossessions as things are going to get worse before they can improve.
Operations manager at ARLA, Ian Potter has said that ‘The package of measures unveiled in the government's Housing Strategy could go some way to helping get the wider housing market moving. However it will take time for the measures to have an impact, and in the meantime the issue of a severe lack of stock will continue to affect the PRS well into
2012, particularly in London and the South East.'
He added that ‘Almost three quarters of ARLA members, 74%, already report that there are more tenants than available
properties, and this is a story we're likely to see worsen. However, there is some anecdotal evidence
in parts of the country that stock levels of rental property could be increasing.'
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Field at Kensington Palace up for rent for 2012 Olympics....
As part of a new fund-raising drive, the Queen is renting out a playing field at Kensington Palace for the duration of the Olympics to a Russian millionaire businessman.
The area will be used during the Olympics to promote the 2014 Winter Olympics as well as host VIP events. It is currently known as Perks Field, and at the moment is used by the royal household for landing the royal helicopter and as a football pitch.
It is situated to the north of the palace where the Duke and Duchess of Cambridge have their London base
as well as Prince and Princess Michael of Kent.
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Monday, 19 December 2011
Big renovations for big boss of Selfridges!!
Galen Weston, Canadian billionaire owner of Selfridges is to stranger to being praised for stylishness. However, he may be in for his first bout of criticism with a programme of renovations that he has in the running for his historic property in Windsor Great Park, Fort Belvedere.
Weston and his Irish wife Hilary, who are also friends with the Duke of Edinburgh, have submitted a series of
applications to improve the Bombardier’s Cottage at the property, which is where Edward VIII lived with Wallis Simpson.
The plans include removing the floorboards, erecting a first floor and joists and installing new underfloor
heating.
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Friday, 16 December 2011
Licenses too expensive for Oxford landlady...
Due to new city council rules that com into play as of January 31st 2012, a local landlady from Oxford who has been renting out a three-bedroom house for the past five years, s worried that she may be forced to
sell it, thus losing significant monthly income.
The process which involves having the property inspected, will incur a cost to the landlady of £362. The new rules cover houses in which anyone letting a property to three or more sharers, who are not members of the same family. Those who are inhabiting a property, not in keeping these rules must obtain a licence from the council.
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Monday, 12 December 2011
Mortgage Market deserted by first-time buyers....
With further signs of the housing Market slowing down to a snail's pace in October this year, first-time buyers began to desert the mortgage market, in spite of the fact that mortgage rates hadnt actually been that low for nearly 8 years!!
According to figures released by the Council of Mortgage Lenders, the total number of loan approvals for house purchases were worth £6.5bn in October and reached 44,500, although this was down 8% on the previous month and 5% on October 2010.
However the number of first-time buyer loans with an average deposit of 20%, fell to just 16,400(by 10%) although the Council of Mortgage Lenders said this was only down by 1% on October 2010. The total value of first-time buyer loans also fell in October 2011, by 9% to £2bn.
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Friday, 9 December 2011
Coalition government consider mortgage interest scheme.....
The government is contemplating a benefit which it's purpose would be to assist those who are unemployed to meet the commitments os their mortgages, but many fear that this could have a "disastrous consequences" for Families.
The Support for Mortgage Interest scheme would entail a benefit that pays mortgage interest on behalf of jobless homeowners. The matter of whether people should be receiving financial help indefinitely without the tax payer having the chance to recoup some of the costs is being looked into by Lord Freud.
Proposals include the suggestion that new claimants who want to continue receiving support after a fixed period of time should receive this help in exchange for a charge on their homes, which can be recouped when the properties are sold.
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