Camden Property Market News Blog

London Local News; Kingsgate Community Centre

2012-02-09T02:14:00.000-08:00

Kingsgate Community Centre is based on Kingsgate road, opposite Kilburn Grange Park. They have been established since 1982 when some of the local people got together to create a place where members of their community could go for activities and events. Kingsgate community Centre provide various classes and events for local people who otherwise wouldn't be able to afford these types of services. The board of directors are all volunteers who live in the local area and have a strong and established connection with the community. The center is still going strong today and has build up a great number of low cost activities for adults and children, from leisure activities to education and learning.

For instance, there is a new arts course running for children and young adults teaching skills such as drawing, painting and animation. There are many creche and pre-school classes here too as well as theatre workshops and playtime for kids. For the older members of the community they hold classes here such as a drop-in line dancing class and painting & drawing. The Kilburn and West Hampstead Pensioners' Association is also held here once a month. Classes are run by a team of staff and volunteers, and they have made sure from ages 5 to 55, they have something for everyone!

They currently receive grants from the London Borough of Camden, organise fund raising events, receive public donations and hire out space in their building. If you would like to find out more about Kingsate community centre and how you can get involved or take part, please visit their website www.kingsgatecommunitycentre.org.uk.

London Local News

Kilburn Property With Planning For Sale

2012-02-07T02:11:00.000-08:00

Shoot Up Hill, Kilburn, London, NW2

A unique and very private one double bedroom ground floor maisonette with its own private East facing garden and off street parking.

The property is set at the rear of this imposing period building and currently has planning permission to create another floor which will accommodate another bedroom and bathroom.
Located within moments to all the local amenities including the Jubilee underground and the London Overground stations, local shops, restaurants and Bistro pubs in addition to multiple bus routes along the Edgware road into central London.

The accommodation comprises a spacious entrance hall with useful storage space housing the washing machine; an 18' front facing double bedroom with wood floors and fitted wardrobes; a modern bathroom incorporating a white three piece suite, large storage cupboard housing the boiler and a separate wc.

Further benefits include a bright 19' reception room with wood floors and double doors leading to the rear garden, a modern open plan kitchen with electric hob/oven and an integrated dishwasher, off street parking, double glazing, no upper chain and freehold.

Shoot Up Hill Property with Planning Kilburn

Its a Buyers Market Home Owners Believe

2012-02-06T01:33:00.000-08:00

Rightmove’s first Consumer Confidence Survey of 2012 was released today and finds that the public believes the property market balance of power currently lays firmly with buyers.

Over 60% of respondents are of the view that it is a ‘buyers’ market’ and just 13% a ‘sellers’ market’. There is also evidence of increased price confidence in the property market with the proportion of those forecasting prices to be the same or higher in 12 months’ time edging up to 66% from 62% a year ago. However, deeper analysis shows that both findings mask some significant regional and local variations which provide further evidence of an acute north-south divide and a property market pock-marked with localised micro-markets.

Shipside adds:
“On the surface it looks as though potential home movers are feeling a bit more positive about the outlook for property prices. However, hidden beneath is the real story that different market segments are performing very differently and that in all probability your price predictions will depend on your own local micro-market. While parts of the stock-starved south, and London in particular, are feeling relatively bullish about prices, the turmoil of the last few years has wreaked havoc in parts of the buyer-blocked north.”

It is worth considering the variations in national, regional and local price outlooks in the context of confidence. Rightmove’s survey asked respondents to indicate whether they believed that current market conditions favour buyers, sellers or whether the balance was about equal. 60% indicated that they felt that the ‘balance of power’ lay with buyers, and just 13% with sellers, giving a ‘market balance ratio’ of 5.4:1 – or 5.4 people who believe it is a buyers’ market for every one person who believes it is a sellers’ market.

Shipside comments:
“There is a clear north-south divide in both house price expectations and an even more acute contrast of opinion in where the balance of power lies. A shortage of stock and greater numbers of proceedable buyers lead those in the south to anticipate upwards pressure on prices and so a more tricky market for buyers to negotiate a price reduction in.”

London Property Micro Markets

2012-02-05T12:14:00.000-08:00

London starts the new year again proving it has its own micro-markets where housing demand continues to outstrip supply, reports Rightmove. New sellers in the capital have had the confidence to increase their month-on-month asking prices by 0.8% (£3,453), compared to a fall of 1.5% in the rest of the country (£2,792).

This is a continuation of the trend seen over the last year, with asking prices in London now 6.1% higher than a year ago. The rest of the country recorded a combined fall of 1.7% over the same period.

Miles Shipside, director of Rightmove comments:
“Depending on local market conditions, there are differing pressures on the direction of prices. The lack of property coming to market in the London area over the last year combined with buyer demand has helped to buoy new sellers’ asking prices in most locations. Prices will be receiving a further boost as estate agents compete to attract fresh stock for the year ahead.”

There have been more than 44 million property searches on Rightmove during the first ten days of 2012. While this doesn’t necessarily indicate a surge in proceedable buyer numbers, it does highlight a strong pent-up demand to move and is also a reflection that value-seeking buyers who can proceed are taking extra care to research the market. January often sees the beginning of a ‘spring bounce’ in the prices of properties coming to market, and there is again evidence of this in 2012, where the overall monthly period rise of 0.8% in new seller asking prices was boosted by a rise of 1.8% (£7,605) in the first week of 2012.

Shipside comments:
“As we move into the more active spring market with a shortage of new supply, prices will rise where the local market or a particular estate agent is short of a type or style of stock. However, asking more for your property can only be successful if your target buying audience can raise the necessary funds. The market fragmentation caused by the credit crunch means that success in selling now requires a more careful and complex micro-market analysis, rather than a wishful price-punt to see what happens.”

Brondesbury Studio Apartment for Rent, NW6

2012-02-04T04:29:00.000-08:00

Christchurch Avenue, Brondesbury, London, NW6

Presenting this bright and spacious and well maintained first floor studio apartment set within a period conversion moments from Kilburn Jubilee Line and Brondesbury Silverlink. The property comprises a separate modern fitted kitchen with appliances, reception room with parquet flooring and raised sleeping area, bathroom with power shower and wc, available from 7th April, part furnished.

Studio Apartment for Rent

Chelsea Building Society Mortgage Gives Hope to Homeowners

2012-02-03T01:31:00.000-08:00

Chelsea Building Society said it is continuing in its aim to offer borrowers the most competitive mortgage deals with the lowest ever five year fixed rate deal.

Borrowers wanting a mortgage of up to 70% LTV (loan to value) can benefit from a rate of 3.19%, or 3.39% for the offset option. Both mortgages have a fee of £1,495.

‘This is the lowest five year fixed rate mortgage ever to come to the market, which is great for customers wanting longer term security in fixing what is likely to be their biggest monthly outgoing,’ said Chelsea Building Society product manager Jemma Smith.

Chelsea Building Society is also reducing two year fixed rates available up to 85% LTV:3.44%, or 3.64% offset, each with an £1,895 fee and 3.59%, or 3.79%, each with a £395 fee.

This Chelsea mortgage could prove a lifeline for home owners worried about increasing mortgage payments. Although it may be another year before the base rate rises, the only way for mortgage rates to go in the long term is up. Consumers can protect themselves against these rises by fixing but this has tended to come at a high price. The launch of this lowest long term 5 year fixed in market from Chelsea will offer peace of mind but without the hefty price tag.

Rental Investment or First Time Buyer Property for Sale

2012-02-02T01:58:00.001-08:00

Willesden Lane, Brondesbury, London, NW6

A spacious fifth (top) floor one double bedroom apartment within this ex-local authority building. Within a short distance is the Kilburn Jubilee and Brondesbury Park London Overground stations, bus routes and local shops.

The accommodation comprises of a bright reception room with floor to ceiling windows, an open plan fitted kitchen, double bedroom with built-in wardrobes, a three piece bathroom with wc, communal gardens, parking and no upper chain.

Call today to view this ideal 1st home or rental investment.

Rental Investment or First Buy Property In Brondesbury

UK House Prices Will Remain High

2012-02-01T11:19:00.000-08:00

House prices will remain high because not enough new properties are being built, it has been claimed.

The National Housing Building Council (NHBC) believes the nation’s growing population and a lack of mortgage availability is causing a housing shortage, which might be good for people who are equity rich, but is crippling the hopes of first-time buyers.

Richard Tamayo, commercial director of the NHBC, said that the problem could helped by more new homes being constructed but revealed that 45 per cent less are being built now than in 2008.

"Even four years ago, we were not building enough homes to meet the needs of the growing UK population,” he stated.

“The dream and inspiration of home ownership amongst the younger population is moving further and further out of their reach.”

The government recently claimed that its £420 million Get Britain Building scheme will see around 16,000 new properties come onto the market and create somewhere in the region of 30,000 new jobs.

First Time Property Buyers News

Estate Agents Fees and Charges

2012-01-30T10:50:00.000-08:00

Estate agents are often secretive about what they charge sellers, it has been alleged, whilst there is great variation in the levels of fees that they charge.

A new survey found that only one agent in London – Winkworth – disclosed its fees on its website. About 20% of London agents refused to disclose their fees over the phone or via email.

The survey, by new estate agent comparison website ipostcode, looked at 250 agents’ fees across London and found that it is not necessarily in the most expensive postcodes where agents charge the highest fees.

Some of the highest average commissions are charged in the SE1 (Bermondsey), NW11 (Golders Green) and W6 (Hammersmith) postcodes, although agents in some lower priced areas – E8 (Dalston), N8 (Crouch End) and SE28 (Thamesmead) – offer some of the lowest commission rates.

The majority of the London estate agencies surveyed quoted 1.5% commission, but 15% of agents quoted 1%. The highest commission level quoted was 2.5%.

There were several postcode areas including Islington (N1) and Clerkenwell (EC1) where commission levels spanned the range from 1%-2.5%, which means that on a property priced at the London average of £342,749 (according to latest Land Registry figures), the seller could be paying anything from £4,113 to £10,282 including VAT to sell the same home.

Estate agents’ reputation for being guarded about their fees was borne out by the survey, with one in five of agents refusing to say what their fees were, either on the phone or via email. Only one agency, Winkworth, which has 43 London offices, displayed fees online.

One in four agents said that their fees are negotiable based on either a realistic valuation of the property or depending on the price range of the property. Many agents in the survey stressed that an agency should not be chosen simply on their commission rates but on service, track record and marketing.

The survey also found that estate agent fees in London at an average of 1.7% are more or less in line with the national average of 1.8% – contrary to the perception that London estate agent fees are the highest in the country.

Domenic Versace, co-founder of ipostcode, said:“Agents can be too guarded about how much they charge and many people don’t really know what they should be paying or that some fees are negotiable.

“We want to lift the lid on estate agency fees and make the process more competitive and transparent, encouraging agents to pitch upfront for the business.”

ipostcode is one of several new comparison websites, which says it will change the way property sellers and landlords go about selecting an estate agent and creating more transparency around fees.

The site works by sellers and landlords listing their property for free and agents bidding eBay-style against the clock for the opportunity to sell or let it.

Last week, on our sister site LAT, we carried a story about lack of transparency in letting agent fees, with the idea that agents should display ‘APR’ illustrations on their sites. The link is here:

Refurbishment Flat for Sale North London NW6

2012-01-26T04:38:00.000-08:00

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

Property: Property Outlook for 2012

2012-01-26T02:12:00.000-08:00

Property: Property Outlook for 2012: Most homeowners expect property prices to rise in 2012, according to a new survey. But despite the findings, confidence in the market has ...Nicholas Leeming, of Zoopla.co.uk, said: “There is a lot of general economic uncertainty at the moment which is taking its toll on homeowner confidence.“Until there is some good news on the overall economy, homeowners will continue to be cautious with their optimism for the property market.

“Londoners, however, are living in a market detached from the rest of the UK.
“Many overseas buyers continue to pile into London property to take shelter from economic or political storm clouds elsewhere which is helping to boost prices and confidence in the capital.”

A North West London Estate Agent set to jump out of a plane 13,000ft in the air!

2012-01-25T01:55:00.000-08:00

2012 is set to be an adventurous year for Paramount Property Estate Agents. Some of the Paramount staff are doing a sponsored sky dive... oh yes, you heard correctly; 12 estate agents jumping out of a plane! We will be at the North London Skydiving Centre on the 17th June 2012 and will be jumping from 13,000 feet!

We aren't taking this lightly and are all feeling the fear... “I approach the 17th June with trepidation as I suffer from a fear of heights this coupled with the notion of jumping out of a plane should be enough for our clients and customers to donate generously to this very worthy cause.” Spencer Lawrence, our lettings Director.

The charity we are sponsoring is the Estate Agency Foundation which aims to combat homelessness. The Estate Agency Foundation aims to bring estate agents together to help this very worthy cause and sponsors charities such as Shelter and Mungo's.

We feel its important to get active and support charities like this. We also feel that witnessing estate agents jumping out of a plane is a once in a life time opportunity and shouldn't be missed! Please help us and support the charity by donating whatever you can. Just go to www.justgiving.com/Paramount and and click donate.

Here are thoughts from some brave sky divers:

“I have fancied doing this for a while and can’t wait for the adrenaline rush from 13,000 feet and what’s more beneficial is the worthwhile charity we are donating to. Looking forward to the day!” Robert Lazarus, Sales Director

“I want to do it because over Christmas I saw many homeless people and realised how unbelievable it is that in a first world country people are still stuck outside in the cold winter months with no food, warmth or shelter, and the charity we will support help people in these circumstances to have a better quality of life.” Danielle Davey, Sales

“It is a great to support some really worth while charities and with the added bonus of being able to do something I have always wanted to do. So when the opportunity came I jumped at it.” David Warren, Sales

“I fear nothing in life… Except, planes, heights and dying. So I honestly can’t tell you why I’m doing this! I guess it’s about looking at the bigger picture… Being courageous in the face of fear, about knowing that courage doesn’t mean not being fearful but rather an awareness that something is more important than fear itself.” - Ashley Afshari-Mehr, Accounts

“I’m participating in the sky dive as I’d like to take this opportunity to help a worthy charity raise funds. I will be collecting as much as possible to donate. I’d also like to take from this a once in a life time opportunity. Sky Diving is something that I have never done before and is something I would relish.” Anthony Shaw, Investments

“I feel the skydive is a great team building opportunity for Paramount. It will also enhance integration between departments and my relations with co-workers. Of course, on top on this all funds raised are going to a great cause, The Estate Agency Foundation.” Nick Christoforou, Investments

Paramount London Property Magazine

Kilburn Property With Planning for Sale

2012-01-24T08:59:00.000-08:00

Freehold Investment Property for Sale London

Kilburn Park
Canterbury Road
London
Greater London
NW6

Existing: 10000 sq/ft*

£ 2,750,000
Freehold

Kilburn Park can be found to the south of Kilburn High Road close to Carlton Vale. The area has seen a recent resurgence of good local bars, coffee shops and hotel opening.

The building is situated on Canterbury Road offering easy access to Kilburn Park (Bakerloo Line) station and further transport, shopping and recreational facilities of Kilburn High Road.

The existing character building comprises of a large B1 office of some 10,000 sq.ft over ground and first floors with off-street parking for up to 25 cars.

Planning permission has granted for the change of use from offices (B1) to residential (C3) on the first floor to create 2x1 bed and 3x2 bed flats and a 3-storey side extension to provide staircase and lift, erection of additional storey to form a further 4x2 beds flats.

There is a S.106 contribution of £48,000 and car free housing.

The building also offers the potential to create serviced offices, student accommodation or a hostel.

Rates payable £28,200 p.a.

NW London Site with Planning for Sale

Willesden Green Flat for Rent

2012-01-23T01:25:00.000-08:00

Walm Lane Flat for Rent

Within this private development we offer a recently refurbished one double bedroom second floor apartment near transport and amenities. Benefits include a bright and spacious reception room, double bedroom, semi-open plan fitted kitchen with high grade appliances, bathroom with shower and wc, communal gardens, lift, available from 13th March, part furnished.

Walm Lane, Willesden Green, London, NW2

Willesden Green Family Home for Sale

2012-01-21T14:44:00.000-08:00

Gardiner Avenue, Willesden Green, London, NW2

A charming and spacious detached six bedroom house set over three floors located within this quiet residential cul-de-sac within easy access to the local amenities including Willesden Green Underground Station (Jubilee Line).

The property offers two generous sized reception rooms, dining room, large fitted kitchen, large master bedroom, guest double with en-suite bathroom, four further bedrooms and two bathrooms, shower room and guest W.C. Further benefits include front and rear gardens, Garage and off street parking, gas central heating and double glazing. Call now to view this substantial home.

6 Bedroom Family House for Sale, Willesden Green

Rental Yields Rise With Landlords Optimism

2012-01-20T02:18:00.000-08:00

Reports in last weekend’s Financial Times have highlighted the surge in new buy-to-let purchases,with many areas in London likely to be the first to benefit, according to property search consultant Expatfindaproperty.com.

According to the Financial Times report, landlords are taking advantage of weaker house prices to snap up bargain rental prospects in premier locations. While some are cash purchasers, others are using cheap borrowing costs to expand their portfolios.

Expatfindaproperty.com’s own research suggests that rental yields in many parts of London, in particular, are starting to rise steeply, following many years of static, or only gently-rising, prices. In particular, demand for rental homes near to prime commuting transport links, such as those in the Clapham, Earlsfield, Wimbledon and Raynes Park areas of South West London, has seen agents arranging block viewings, with would-be tenants forced to bid against each other to secure a property.

Emboldened by the strength of the demand, says Expatfindaproperty, agents and landlords are now pushing rents higher, which means that new landlords can expect enhanced returns, as well as realistic prospects of capital growth, when capital prices eventually start to recover. Prospective tenants, however, will find this news less welcome.

Erica Evans, of Expatfindaproperty.com, comments, “Our straw poll of agents in South West London has revealed high levels of optimism for landlords. For those thinking of entering the market from abroad, providing they have a 30% deposit for an expatriate or international mortgage, now is an excellent time to be looking at the market, but location is absolutely critical.

“Strong rental yields are only available in quite specific areas around commuter infrastructure hotspots.”

CASH BUYERS ONLY Kilburn Flat for Sale, Princess Road

2012-01-19T05:50:00.000-08:00

Princess Road, Kilburn Park, London, NW6

1 Bedroom
1 Reception Room
1 Bathroom

CASH BUYERS ONLY!

A first floor 633 sq ft one double bedroom flat which could easily be made into a two bed with the correct permissions.

The property currently has an insurance claim for subsidence proceeding on it.

CALL NOW TO VIEW!!!

Kilburn Flat for Sale

Property Redevelopment Opportunity For Sale, London NW4

2012-01-18T14:34:00.000-08:00

London Development Opportunity for Sale

Sunny Hill Park
Great North Way
London
Greater London
NW4

Net Saleable: 6646 sq/ft*

£ 1,200,000
Freehold

The property is located off the westbound carriageway of the Great North Way at its junction with Sunny Gardens Road adjacent to "Sunny Hill Park"

The development is also close to the shops and amenities of Hendon and near to the beautiful open spaces of Hendon Golf Course and Sunny Hill Park. Mill Hill East Underground Station (Northern Line) is within easy reach, providing good transport links into the West End and City.

Planning permission has been granted for the demolition of the existing building and erection of a two-storey block comprising 8 luxury apartments with associated parking and landscaping (6 x 2 beds & 2 x 1 beds)

The seller has drawn an improved indicative scheme to provide 6 x 2 beds, 1 x 2 bed duplex & 1 x 3 bed apartments (NIA 7,276sq.ft). This is achieved with a slight modification to the approved scheme.

North West London Investment Property For Sale

Mapesbury Apartment for Rent NW2

2012-01-17T13:47:00.000-08:00

Walm Lane, Mapesbury, London, NW2

3 Bedrooms
1 Reception Room
2 Bathrooms

A beautiful three bedroom two bathroom first floor apartment within this detached period conversion including reception room with feature fireplace and plasma TV, large adjoining kitchen/diner with a full array of appliances, three double bedrooms (ensuite bathroom to master bedroom), further fully tiled bathroom with shower and wc, private section of rear garden, available from 22nd February, part furnished.

NW2 Apartment for Rent

Finsbury Park Bedsit Apartment for Rent

2012-01-16T13:44:00.000-08:00

Wells Terrace, Finsbury Park, London, N4

1 Bedroom
1 Bathroom

A first floor bedsit apartment set close to transport and amenities, comprising a double room, shared kitchen and bathroom with wc. Rent is inclusive of all bills. Available NOW, part furnished!

Finsbury Park property for Rent

Halifax Home Loans for First Time Buyers

2012-01-15T05:28:00.000-08:00

Halifax has announced plans to help first-time buyers get a foot on the property ladder with a new fee-free mortgage.

The home loan, which lasts for two years and has a fixed interest rate of 5.99 per cent over this period is available to those with a deposit of between ten and 15 per cent of their new home's value.

With mortgage fees typically adding up to around £995 the loan is certain to seem attractive to first-time buyers looking to save a bit of cash.

For the bank's current account customers there will be an additional £150 cash-back bonus on completion of the mortgage.

"Buying a house has always been an expensive process and for first-time buyers every bit of help counts," commented Halifax's mortgage director Stephen Noakes.

Last month, Leeds Building Society also offered a helping hand to first-time buyers in the form of a mortgage with a five-year fixed rate at 4.94 per cent with 95 per cent loan-to-value.

Mortgage Rate and Home Loan News

Refurbished Apartment For Rent Mapesbury Conservation Area

2012-01-14T05:41:00.000-08:00

Dartmouth Road, Mapesbury, London, NW2

A recently refurbished one double bedroom first floor apartment set in the heart of the Mapesbury Conservation area. Benefits include a bright and spacious reception room, fully fitted open plan kitchen with all appliances, tiled bathroom with shower and wc, bedroom with fitted wardrobes, part furnished, available from 24th February.

Mapesbury Apartment for Rent

Building and Construction News; London House Building Plans

2012-01-13T05:57:00.000-08:00

House builder Taylor Wimpey has announced plans to build more homes in London in 2012 than ever before.

The housing market in the UK capital has bucked the trend of falling prices and the builder hopes to take advantage of this.

Ingrid Skinner, Taylor Wimpey Central London’s managing director, said that the company hopes to extend its reach to some of the more 'up and coming' boroughs which are undergoing redevelopment.

“We have a diverse pipeline of fantastic projects that will enable us to extend the group’s operational aims and to bring more homes to the market than ever before in key areas of Central London in 2012 and beyond," she added.

Projects currently in the planning or construction phases include West Hampstead, Tufnell Park, Islington, Newham and Lewisham, while developments in Greenwich, Kensington and Camden are in the pipeline.

It is thought that the initial phase of development alone will deliver more than 400 new homes.
Recently, housing minister Grant Shapps estimated that the government's £420 million Get Britain Building Fund will lead to the development of around 16,000 new properties.

Building and Construction News

Dollis Hill Apartment for Rent, Brook Road

2012-01-12T13:39:00.000-08:00

Brook Road, Dollis Hill, London, NW2

A stunning second floor two double bedroom apartment situated in this 1930's Post Office Research Building on top of Dollis Hill with views overlooking Gladstone Park and beyond. Benefits include spacious reception room with semi-open plan fitted kitchen with integrated appliances, fully tiled bathroom with shower and wc. Other benefits include impressive communal areas, private parking space, entryphone, lift, available 2nd March, part furnished.

North London Apartment for Rent

Willesden Green Apartment for Rent

2012-01-10T05:38:00.000-08:00

Walm Lane, Willesden Green, London, NW2

Within this private development we offer a refurbished first floor studio apartment near transport and amenities. Benefits include a reception room with wood flooring and open plan fitted kitchen with appliances, adjoining sleeping area, tiled shower room and wc, communal gardens, lift, available from 12th February, unfurnished or part furnished.

Refurbished Studio Apartment for Rent