Fulham Flats & Houses For Sale & Rent

Lack of Housing Stock Keeps Prices Up

2012-01-27T11:16:00.000-08:00

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

Hammersmith Has Highest Estate Agents Charges

2012-01-23T03:02:00.000-08:00

Hammersmith Lettings:: Hammersmith Has Highest Estate Agents Charges: Estate agents are often secretive about what they charge sellers, it has been alleged, whilst there is great variation in the levels of fees...

Leasehold Commercial property for Sale, Tasso Road, W6

2012-01-13T14:28:00.000-08:00

Commercial Leasehold Property for Sale, Hammersmith

Hammersmith
Tasso Road
Hammersmith
Greater London
W6

GIA: 1367 sq/ft*

£ 28,000
Leasehold

Tasso Road is a quiet, residential address moments from Queens Club, offering quick access to the shops, bars and restaurants of Fulham Broadway and West Kensington, with local shops close by on Fulham Palace Road.

The closest station is Barons Court (District and Piccadilly Line) and Kensington Olympia (Overground) while the A4/M4 provides the motorist with a rapid route out of London towards Heathrow Airport and the West.

Ground - 24sqm (excluding stair to basement)
First - 103sqm

W6 Leasehold Property for Sale

Building & Construction News: Get Britain Building will create 16,000 new properties

2012-01-03T01:17:00.000-08:00

Housing minister Grant Shapps has estimated that the government's £420 million Get Britain Building Fund will create as many as 16,000 new properties on sites which have previously stalled due to economic circumstances.

Furthermore, he believes it will also see the creation of around 30,000 new jobs.

The scheme enables developers to either apply for a loan at commercial rates or they can take an equity release, whereby the government makes an investment alongside the building company.

Mr Shapps was keen to stress the scheme is not merely a government gimmick to create the illusion that they are doing something to help the plight of both first-time buyers and the building trade.
"This is not a simple handout - the taxpayer will get a return on their investment, with the homes the country needs built and 30,000 jobs created," he said.

Plans for the scheme were originally set out by the prime minister David Cameron in mid-November.

London Property News

First time Buyers New Opportunities

2011-12-15T02:15:00.000-08:00

Chelsea Flats & Houses For Sale & Rent: First time Buyers New Opportunities: While borrowing for a property purchase is far from an easy thing, one mortgage broker believes that first-time buyers are now seeing a hos...

London Property Prices Remain Stable

2011-11-29T01:51:00.000-08:00

Hammersmith Lettings:: London Property Prices Stable: Against an uncertain economic and financial backdrop the housing market has – over the last three years - adapted to a low turnover, finance...

Council of Mortgage Lenders Call for Extension to Stamp Duty Exemption

2011-11-22T00:19:00.001-08:00

The Council of Mortgage Lenders (CML) is jumping to support first time property buyers and calling on the government to extend the existing exemptions for stamp duty.

At present the scheme means that those who have not owned a property previously do not have to pay the land tax to the government, but the scheme will come to an end in March.

The CML believes that getting rid of this incentive will lead to fall in the number of people looking to buy a home, but would not massively increase the government’s coffers.

“The housing market can act as a force for growth in the economy, but if this is to happen then buyers, lenders and builders alike all need a clear message that the government sees them less as part of the economic problem, than as part of the economic solution,” said CML director general Paul Smee.

At present all first time buyers are exempt from paying stamp duty up to £250,000. For everyone else, the tax starts at one per cent on properties between £125,000 and £250,000, three per cent between £250,001 and £500,000, four per cent between £500,001 and £1 million and five per cent over that figure.

First Time Property Buyers News

Land Registry Reports London House Prices Up by 0.3%

2011-10-31T07:53:00.000-07:00

Outside of London house prices continued to fall while London again saw prices increase due to demand for housing in the Olympic host city according to data from the Land Registry. September house prices in London rose by 0.3 per cent when compared to August and 2.7 per cent when compared with September 2010. House prices in the northeast area of England experienced a 3.9 per cent fall in prices while the annual decline fell to 8.2 per cent.

The average home in England and Wales fell to £162,109. The demand for homes in London failed to lift house prices above the decline level as the average in England and Wales fell slightly at 0.3 per cent for September when compared to the previous month and 2.6 per cent when compared to last year.

Tube train safety checks change sparks union row

2011-10-19T07:18:00.000-07:00

Hammersmith Lettings:: Tube train safety checks change sparks union row: A row has broken out over planned changes to safety checks of "key fail-safe equipment" on the Tube network, reports the BBC. The Rail, Mar...

Right to Buy and Build Now Pay Later

2011-10-03T03:19:00.000-07:00

David Cameron is to revive the ‘right to buy’ housing policy – as he ruled out a spending boost to revive Britain’s struggling economy.

Council house tenants, and some in housing association properties, will be offered larger discounts to help them achieve the dream of home ownership after strict curbs under Labour, the prime minister said.

But, this time, the money raised would be ploughed back into building more cheaper homes for rent – to counter criticism that the Thatcher home ownership revolution led to a critical housing shortage.

Only around half of the 1.3m council homes which have been transferred to housing associations and other social landlords in recent years retained a right to buy. A further 100,000 homes would be built by releasing government land to developers under a “build now, pay later” policy.

National Housing Federation chief executive David Orr said: “Previously, right-to-buy was great for those lucky enough to be in the right place at the right time to take advantage of it, but disastrous for those who later needed rented home and found a desperate shortage of social homes.

Investment Property News; Now is a good time to invest

2011-09-14T10:22:00.000-07:00

Landlords with property to rent in London and other parts of the UK are increasingly turning their thoughts to expanding their portfolios, an independent property industry expert has said.

Malcolm Harrison commented that many landlords are right to be optimistic about their buy to let prospects, as the rental market will "remain very tight" until there is more housing stock and a wider range of UK mortgage offers for first time buyers.

"There is no house building, there is a shortage of decent housing in many areas and you can't get a mortgage, so quite a lot of people are going to be very dependent on buy to let investors," he pointed out.

"I think [landlords] are right to be cautiously optimistic anyway because we don't know what is happening with the overall economy yet."

Mr Harrison's comments come after LSL Property Services published research showing half (49 per cent) of landlords think now is a good time to invest in their portfolios, with 86 per cent are planning to do just that in the next few months.

Investment Finance News

Mortgage Rate & Home Loan News: Children optimistic about owning 'dream home'

2011-09-08T01:25:00.000-07:00

Children in the UK seem to be confident that they will not have trouble as first time property buyers, as more than two-thirds 68 per cent) believe they will own their 'dream home' by the age of 35.

That is according to research by Clydesdale and Yorkshire Banks, which also found that 19 per cent of kids think they will achieve this goal by the age of 25.
Steve Reid, retail director of Clydesdale Bank, said: "As any parent knows, children can be very ambitious and it's always refreshing to hear about their hopes and dreams, however optimistic they may be."

The survey also found that 33 per cent of children believe their dream home will set them back between £500,000 and £1 million.

In terms of what their dream home will contain, 59 per cent said they would have a swimming pool, while 25 per cent are hoping for their own private theme park.
Children in Yorkshire were found to be most hopeful, with 83 per cent of primary school students expecting to have a dream home by 35.

Mortgage Rate & Home Loan News

Fulham Council Tenants Fight Demolition of Estate

2011-07-13T00:58:00.000-07:00

Tenants living in property to rent in London's Hammersmith and Fulham area have set out plans to take over two council estates earmarked for demolition.

Both estates, which contain 750 council houses, have been included in proposals for a redevelopment of Earls Court, which could provide thousands of new homes in the area, but people renting properties in the council-run sites wish to take ownership of the estates.

They are being supported by London assembly member Jenny Jones, who will be raising the matter with London mayor Boris Johnson.

She said that demolishing the estates would be a waste of money, given that the area has received £15 million of investment in the last ten years, in addition to the tenants' wishes.

Ms Jones also argued that the deconstruction work would have a significant carbon impact.

The local authority has written to the government in an attempt to quash the takeover proposal on the grounds that the Earls Court project has wider benefits for the area.

London Property to Rent

Lending to First Time Buyers up 8% in March

2011-06-20T09:56:00.000-07:00

The key issue for first time property buyers is whether they are able to move to a new location and secure employment.

This is the opinion of Richard Horner, northern south sector regional executive for the National Association of Estate Agents, who noted: "In the current economic climate we are all suffering from a lack of availability [of] good jobs."

He pointed out that if first time buyers are looking to get onto the property ladder, have flexible jobs and are able to move around the country, they have a greater choice about where to relocate.

Mr Horner's comments come after the Council of Mortgage Lenders revealed that lending to first time buyers increased by eight per cent in March, from 14,700 to 15,800.

The value of UK mortgage lending to those hoping to get their foot on the property ladder also rose, up from £1.7 billion to £1.9 billion.

First Time Property Buyers News

Estate Agents In House Conveyancing

2011-06-01T01:29:00.000-07:00

The Legal Services Act, the so-called 'Tesco Law', which comes into force on October 6, will allow Estate and Letting Agents offer a full range of Conveyancing Services to its clients. The Law which is designed to deregulate the legal profession has been heralded as the “Big bang” for lawyers in England and Wales, but also dismissed as something of a non event.

Built to benefit the consumer the law could see the end of small solicitors firms and a movement towards in house,issue specific legal experts.

In the case of conveyancing, most departments on local solicitors offices will already be run by a licensed conveyancer who has completed a 2 year course culminating in professional legal exams with a license awarded by the Council of Mortgage Lenders after a further 2 years in house work.

The Tesco law is intended to open up the market and introduce greater competition, but the question is whether the consumer will trust an unregulated legal market with the biggest purchase of its life? With well known brands such as Tesco, Barclays and the AA already taking advantage of the deregulation though trust may no longer be an issue.

It could all depend on the local estate agent themselves and who they would want to work with. Many home buyers will engage their conveyancer on the basis of a recommendation form the Sellers Estate Agent.

Many legal blogs are encouraging Solicitors to look at their fee structure, cut out overpriced stamps and letters and chaps money transfers,provide regular updates and utilise the same methods of communication (Emails and Texts!) as the new competitors on the net or in the high street estate agents.

But it has already come under fire from lawyers,warning that it could lead to ‘wild west’ will writing, with unqualified and unregulated people doing complex legal work.

Estate Agents News

Fulham Town Hall Conversion

2011-05-20T05:20:00.000-07:00

Hammersmith and Fulham Council has announced that Fulham Town Hall is being sold off and one of the possible bidders wish to turn the London property into a new hotel.
The sale of the building along with seven other council properties is expected to raise £14m, according to the BBC.

Deputy leader of the council, Nick Botterill, said: “We do not need, and cannot afford, two town halls.“We want to see the building itself brought back to life as part of the biggest regeneration of the area since the Broadway development.”

The restoration of the Grade-II listed building is being overseen by architects Hawkins Brown.The conversion would not be London’s first town hall-cum-boutique hotel – Bethnal Green’s former Town Hall was opened as a boutique hotel with serviced apartments last year.

Rental Growth In Fulham Expected to Reach an All-time High

2011-05-16T01:40:00.000-07:00

Residential property rents are growing faster than sales prices in London with the private rented sector likely to account for one in five households by the end of 2016, according to a new report from Savills.

In Greater London average residential rents increased by 16% in 2010 and demand from overseas corporate clients is on the increase, the research found. It also shows that rents in East London have already risen by 4.3% in the first three months of this year and by 3.6% in North London.

The highest rental growth this year is expected in prime southwest London such as Fulham, Putney, Wandsworth, and Richmond, as stock levels here are particularly low and demand high.

‘High rent rises are not confined to the prime market and, as more aspiring buyers are frozen out of home ownership, demand for private rented stock in the country as a whole can only grow. Our prognosis for the private rented sector as a whole remains extremely bullish,’ said Barnes.

‘ We don't foresee that stock levels in the rentals market are going to change due to a continued demand from overseas tenants. We may see slightly more stock come to the market as those landlords who aren't living here full time choose to rent out their properties,’ said Jane Ingram, head of lettings at Savills.

Fulham Parks Receive 'Safer Parks Award'

2011-05-09T05:31:00.000-07:00

Closer working between residents, the police and the council is one of the main reasons why Bishops Park and South Park have been named amongst the safest open spaces in London.

The parks, both in Fulham, are among 31 capital green spaces who have received Safer Park Awards from the Mayor of London for their hard work to combat crime.

Hammersmith & Fulham has its very own, council-funded Parks Constabulary that work every day of the year to keep the borough’s parks and open spaces safe. The officers provide a friendly face for parks visitors and also deal with crimes including vandalism and drug taking and issues regarding dangerous dogs.

UK Letting News; Family Homes To Let Increases

2011-04-21T07:47:00.000-07:00

Buy-to-let investors are facing increased competition in the rental market from homeowners who are choosing to rent their properties out rather than sell them.

The Association of Rental Lettings Agents (ARLA) produced figures showing that the rented property market experienced an increase in the number of higher value homes becoming available to let at the start of the year as the number of family-sized homes on the market increased amid the uncertain economic conditions gripping the nation.

The average capital value of rental houses shot up by 11.6% from £401,400 to £447,900, according to first quarter figures from the ARLA. The last time the market peaked at such levels in 2007, when the average capital value reached £442,600, there followed a sustained period of decline.

However, the trend is not a national one as the rise was as result of higher value properties going on the rental market in London and the South East. All the other regions experienced an average drop of 5.2%.

The Move Channel

Empty Lets and The 2011 Census; Landlords Responsi...

2011-04-11T00:38:00.000-07:00

Hammersmith Flats & Houses For Sale & Rent: Empty Lets and The 2011 Census; Landlords Responsi...: "Have you got an empty let? Then don’t forget … you need to fill in the census form for that property on Sunday 27th March. This is a legal r..."

Living in Fulham; Your Local Services

2011-04-10T09:09:00.000-07:00

When moving into an area there are a number of local services you need to know about. Below you can access local authority information and services; we have chosen the most frequently asked information. Just put in your postcode and find out information on;

Bin Collection, Council Tax, Parking Permits, Recycling centres,Electoral roll registration, School and Term Dates and your local councillor for your new area.

London Property News

DIY Home Improvements Can Reduce Value of your Home

2011-04-07T04:29:00.000-07:00

While owners of property in need of restoration might want to carry out improvements by themselves, it could affect the future value of their home if they make a mistake.This is the advice from Andrew Leech, director at the National Home Improvement Council, who noted any major DIY projects in the home should be logged for future reference.

"You have also got to be careful that you are quite competent at doing these jobs because some of these things like electricity and gas require specialists," he pointed out.

"If you have done things on heating or electricity, when the solicitor asks for details of the improvements that you have made, he or she may also ask for certificates to show that you have made these improvements; if you haven't got certificates, then you won't sell the house."

Meanwhile, figures from Nationwide show London house prices and those in other parts of the country rose 0.5 per cent on average in March.

Property Repossession News

Private Residential Landlord News; Lower Rents are Not Practical for London Landlords

2011-04-04T04:24:00.000-07:00

Landlords who own property to rent in London and other parts of the UK might not find it practical to lower rents in the current financial climate, according to the National Landlords Association (NLA).

Chris Norris, policy manager at the organisation, pointed out: "A landlord's ability to lower the rent in respect of his properties is inescapably linked to his own circumstances.

"While property may represent a financial cushion for some landlords; the overwhelming majority are faced with the same economic hardships as everybody else and will only be able to lower rent levels if it is economically viable to do so," he explained.

This is particularly true if landlords have taken up UK mortgage offers, meaning they have to ensure the rent they charge covers their overheads.

Mr Norris's comments come after research from first direct revealed ten per cent of mortgage holders who have come to the end of their current deal would look around for a different offer if rates went up by one per cent a month.

London Property to Rent

Landlords Health and Safety News; Gas Safety Check Records

2011-03-28T06:44:00.000-07:00

Gas safety is one of the many health and safety issues for landlords to consider.A Health and Safety Executive (HSE) investigation into a landlord in Portsmouth has led to a large fine because he failed to provide a Gas Safety Check Record for more than two years and breached the Gas Safety (Installation & Use) Regulations 1998.

The landlord had also failed to make improvements to his rental property even after the local council took enforcement action against him.

HSE inspector Dozie Azubike commented: "Landlords have a legal obligation to provide tenants with an annual Gas Safety Check Record, verifying that gas appliances have been checked and comply with regulations."

Meanwhile, the Electrical Safety Council is calling for safety certificates to be provided for electrical installations in a bid to protect tenants from faulty wiring or appliances.

As an estimated one in every eight homes is a rental property, the organisation claims it is particularly urgent to sort out health and safety issues for tenants.

Health & Safety News

Planning Permission for Change of Use on the Rise

2011-03-15T08:25:00.000-07:00

Planning applications concerning change of use are on the rise, according to research from a law firm.EMW's figures show the number of change of business use submissions ï»¿increased by nine per cent to 6,200 in the second quarter of 2010 and grew ten per cent to 6,800 in the following three months, Building.co.uk reported.

"The jump in planning applications for change of use shows that landlords and developers are now willing to take action and commit resources to try and get into the segment of the property market where there is the most demand locally," explained Giles Ferin, planning specialist at the commercial law firm.

Owners of commercial property in London and other parts of the UK could run into difficulties when local authorities want to "preserve the mix of different uses", as it means they are sitting on vacant property because there is no demand for that type of building, he added.

The research comes as Nottingham City Council announced landlords in the city will have to obtain planning permission if they want to open their rental property up into a shared house for up to six unrelated people.

Change of Use News