Maida Vale Flats & Houses For Sale & Rent

Increased Rental Returns Unlikely During London's ...

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

Belsize Park Flats & Houses For Sale & Rent: Increased Rental Returns Unlikely During London's ...: Property owners who are expecting to reap the benefits of increased rental returns during this year's big London events should not set their...

Good News for North West London Property Vendors

2012-02-05T09:55:00.000-08:00

60% of home-movers believe that it is currently a buyers’ market and only 13% believe the odd are in favour of sellers, a ‘market balance ratio’ in excess of 5:1 in favour of buyers

Proportion of home-movers forecasting prices to be same or higher in 12 months’ time rises from 62% to 66% year-on-year, providing evidence of marginally more positive price outlook

However, more granular analysis reveals that the national picture masks significant variations at town and city level - the effects of local micro-markets operating very differently

Analysis of price forecast and ‘market balance ratio’ data highlights acute north-south divide:

• 19 of the top 20 ‘price optimist hotspots’ are in the south
• 17 of the top 20 ‘price-pessimist blackspots’ are in the north
• North West London strongest area for ‘seller power’, whilst strongest ‘buyers-market’ is in Huddersfield

London W9 Flat for Sale

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

Fernhead Road, London, W9

A two double bedroom flat, set on the first floor of this attractive character property.

The property is situated within walking distance of Queens Park Bakerloo Line Station and Salusbury Road with its great deli's. patisseries and restaurants.

The property offers a 17ft bay fronted reception room wooden flooring, modern open plan kitchen with butler sink and stainless steel oven and hob, master bedroom and second double bedroom with fitted wardrobes and a modern bathroom which comprise of a stunning double shower and white three piece suite.

Further benefits include newly varnished wooden flooring, share of the freehold and gas central heating.

Bakerloo Line Flat for Sale

Property Website Searches Positive Signs for The Housing Market

2012-01-27T12:57:00.000-08:00

The number of people searching for a new property online has continued to grow and that can only be a positive sign for the housing market.

According to Rightmove, the number of people turning to the net to look for properties in the first ten days of this year was 27 per cent higher than in the same period in 2011.

Selwyn Lim, director of Mouseprice, believes that this is an encouraging indicator that the market will have a buoyant 2012, but also believes that it is a direct result of people switching from looking in newspapers to using their computer instead.

“It is definitely a positive indicator. I would water it down a little because of some elements. One is the shift in behaviour of more and more people searching online – it is a trend that has been going on,” he said.

“Since the internet began, more people have been searching online and that trend is continuing.”

Rightmove also reported that there was a 1.4 per cent rise in asking prices in the first week of the year.

London Housing Market News

London Property's Vulnerable?

2012-01-11T01:59:00.000-08:00

Belsize Park Flats & Houses For Sale & Rent: London Property's Vulnerable?: How long can London's property market defy gravity asks the online Wall Street Journal ? House prices in the capital rose in December, even ...

London rents are 80 per higher than the UK average

2012-01-05T09:33:00.000-08:00

Rental values in London are 80 per cent higher on average than the rest of the UK, new figures show.

HomeLet’s Rental Index for November found that the average rental amount in the capital stands at £1,177 compared to £653 per month nationally.
Rents in London have risen by 13 per cent in the past 12 months. This is in contrast to other UK regions where rents are on average just 1.6 per cent higher than they were in at the end of 2010.

John Boyle, managing director of HomeLet, said: “The soaring cost of renting a home in the capital, compared to the rest of the UK, reflects how demand for rental properties is increasing due to people’s continuing struggle to get on to the property ladder.”

He added that London has also bucked the trend of rent values dropping in the weeks leading up to Christmas.

This goes against what property analyst Samantha Baden of Find a Property said earlier this month.

London Rental Property News

Mortgage Approvals in November Reached New Peak

2011-12-27T06:25:00.000-08:00

It’s not all doom and gloomy in the mortgage market says leading broker John Charcol.

The mortgage advisory firm says that despite media reports of a subdued market place, purchase business for residential property and buy to lets is actually performing quite well and there is a glut of suitable products available.

Simon Collins, product and technical manager at John Charcol, said that it saw a ten per cent increase in the amount of mortgages agreed during October compared with the same month in 2010.

“Despite the festive season, we have seen the number of good quality purchase enquiries hold up very well, so whilst the market’s not great, it’s not as bad as it’s being painted,” he stated.

Last week, the latest Mortgage Monitor from chartered surveyors e.surv found that mortgage approvals for property purchases during November reached its highest number since December 2009 and were up some 15 per cent on November 2010.

Mortgage Rate and Home Loan News

Queens Park Garden Apartment for Sale

2011-12-24T02:02:00.000-08:00

Brondesbury Villas, Queens Park, London, NW6

A spacious (826 sq ft) well presented two double bedroom two bathroom garden flat set within an attractive four storey semi-detached period property on one of the most desirable tree lined streets in Queens Park. The property is situated a short walk from Queens Park underground station (Bakerloo Line) and the variety of shops, gastro pubs and deli's along Salusbury Road.

The accommodation comprises an entrance hall with wood floors and a fitted storage cupboard; a modern family bathroom incorporating a white three piece suite with fully tiled walls/floors; an 18' front facing reception room with wood floors and a gas fireplace with wood surround; guest cloakroom and a separate fully fitted kitchen with integrated appliances.

Further benefits include a 15' master bedroom with fitted wardrobes and direct access to the private rear garden, an ensuite shower room with extractor fan, the second double bedroom with direct access to the private rear garden, side access to the 53' mature rear garden and a private front garden. The property also has potential for a single storey rear extension (Subject To Planning).

Queens Park Garden Flat for Sale

Mortgage Rate & Home Loan News: CML pleased with FSA's changes to mortgage lending requirements

2011-12-21T05:29:00.000-08:00

The Council of Mortgage Lenders (CML) has said that it is pleased with the proposals for reform on mortgage lending put forward by the Financial Services Authority (FSA).The FSA this week outlined new stricter lending rules which it hopes will prevent banks and building societies granting mortgages to people which cannot afford the repayments or allowing them to take reckless measures such as interest-only mortgages without a suitable repayment vehicle.

Initially, the CML said that it had concerns that such restrictions, which will come into forced in 2013, would hinder the market and further reduce people’s ability to acquire.But, after consultation with the FSA, it is satisfied that the changes are a positive move for borrowers and the housing market.

CML director general Paul Smee said: "If lenders are to make their contribution to improving the supply of housing and to the wider agenda for economic growth, then they need a regulatory framework which also supports that objective."

Despite the changes, EH Landlord Services have predicted that the housing market will remain strong for the next decade at least.

Mortgage Rate and Home Loan News

North West London Property Market Review for 2011

2011-12-20T02:26:00.000-08:00

This year’s property sales market has been healthy from start to finish with the average property going under offer in 4-6 weeks. Properties in great condition, property in need of refurbishment or with outside space are often going under offer within days and on the odd occasion going over the asking price. Agreed prices went up by 5% early in the year and have held all year so far.

2011 has been the year of the cash buyer with Paramount agreeing over 50% of its sales to cash buyers. These buyers have often been Parents from the UK, mainland Europe and Asia buying for their children who are based or will be based in London. These properties are going on the rental market for the interim periods.

We have also seen some buy to let investors return to the market, with the rental market’s being so strong they have achieved some great rents and are generally renting their flats within days of taking ownership.

With the lack of properties currently on the market and the amount of good quality buyers currently looking, 2012 looks like it is going to be a great year to sell your property in our local area.

What's been happening in 2011 in West Hampstead and surrounding areas for Paramount lettings?

In 2011, Paramount has seen unprecedented demand from applicants looking to rent in North West London. The cost of market entry for first time owner/occupiers is preventing many people from buying and so is boosting demand for rental property. A dearth of rental stock is pushing up rents and future prospects for rental growth are very strong indeed; the average rental income are up by 12% in the NW6 area. Landlords can “cherry pick” their ideal tenant with no worries of a void period whatsoever.

Given that yields have steadily increased this year, it has also meant the introduction of first time buy-to-let investors into the property market as well as existing landlords expanding their portfolios. There is no reason to suggest that in 2012 the rental sector will show any signs of waning.

Paramount Property News

How to Add Value to Your Home

2011-12-15T01:54:00.000-08:00

When looking to get the best possible return on your property it is best to complement its existing features with small changes rather than embark on a huge regeneration project.

Elizabeth Weintraub, who writes for About.com's Home Buying Guide, believes that adding value to a home is in all the smaller details rather than the costly and time consuming improvements many people take on.

"In terms of adding value - don't renovate," she said. "If you wouldn't make a renovation when you were planning to stay in the home, don't do it when you plan to move."

She said that adding some pounds to your property's value could be as simple as giving the place a lick of paint or buying new rugs and towels for the bathroom.

However, she said that if you do need to take on one large-scale project then it should be adding an extra bath or shower area to the house as another washing space always reflects well to potential purchasers.

Last month the National Home Improvement Council (NHIC) said that installing cavity wall insulation is a good way of adding to your home's value.

London House Price News

Maida Vale property Maintenance for Landlords and Tenants

2011-12-11T09:03:00.000-08:00

Paramount Maintenance Services are based in West End Lane, West Hampstead, North West London, providing a complete in-house letting, property maintenance and property management service to accidental landlords, investment companies, property developers, buy to let investors and corporate property portfolio owners.

Paramount Maintenance take on all sorts of renovations like kitchens, bathrooms, plumbing, electrical, handyman work, tiling, painting, plastering, carpentry, landscape gardening and roofing. They also specialise in the upgrading, renovating, refurbishing and repair of tired or run down rental properties to obtain the maximum benefit to the landlord, property owner or investor in the most cost effective manner.

'Running a professional property management business for professional landlords and professional tenants is a 24-hour a day responsibility, 365 days a year. Once a property is let it is only the beginning of the story and the obligations of a landlord must be executed in the most efficient way possible. Although good professional tenants are hard to find they are often quite demanding. They are looking for trouble free occupation in return for their hard earned cash.' explained Spencer Lawrence of Paramount Lettings based in West Hampstead.

Spencer continued, 'Breakdowns and breakages don’t happen nine to five and so Paramount’s management team doesn’t just happen nine to five either. Central heating boilers tend not to break down in the summer. They wait until the middle of the coldest night of the year. Window locks don’t just break. they wait until their owner or tenant is about to leave for a long weekend in Prague.'

'We not only value our tenants but also our landlords. We provide a property maintenance service second to none in North West London, ensuring that our landlords properties are maintained to the highest standard by arranging independent check-in and check-out. We also ensure rents are collected efficiently and on time and provide monthly statements confirming all income and expenditure. '

Here’s what some of our tenants say:

“Could you please forward my gratitude to your plumber who arrived at m y my property at 10am on Christmas day and fixed my boiler and saved the day as l had a house full with twelve for dinner.”

“Thank you for your swift response, l look forward to coming home to a warm flat.It has been a real pleasure dealing with Paramount. The professionalism they have show during and on completion of my tenancy has been superb, l look forward to renting from you again on my return from Australia.”

Follow the link for more on Paramount's managed property maintenance services in Brondesbury, Cricklewood, Hampstead, Little Venice, Kensal Rise, Kilburn, Maida Vale, Mapesbury Estate, Queens Park, St Johns Wood, South Hampstead, West Hampstead and Willesden Green.

Council of Mortgage Lenders Call for Extension to Stamp Duty Exemption

2011-12-05T00:30:00.000-08:00

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

Kensil Rise Apartment for Rent, Langler Road NW10

2011-12-02T04:35:00.000-08:00

Langler Road, Kensal Rise, London, NW10 £350 pw

A stunning two double bedroom first floor apartment set close to all amenities. Benefits include a bright and spacious reception room with feature fireplace and high ceilings and wood flooring, newly fitted kitchen with integrated appliances, luxury bathroom with shower and wc, two good sized double bedrooms, available NOW, beautifully furnished!

NW10 Apartment for Rent

London Property Sees Influx of Cash Rich Overseas Buyers

2011-11-30T02:56:00.000-08:00

London is a haven for people looking to make a safe investment in bricks and mortar, says a leading property magazine.

Richard Bowser, editor of Property Investment News, said that capital remains a magnet for those looking for a solid long-term venture as values have risen by an average of nine per cent each year despite an otherwise gloomy economic climate.
He added that the rental market also shows no signs of slowing down with yields up by some 23 per cent on average over the past two years.

Mr Bowser feels a major factor in the London property market at present is the influx of cash-rich buyers from other countries.

He said: "Many overseas buyers have also been attracted, as they are buying with greatly increased purchasing power as a result of the 25 to 30 per cent decline in the pound against most global currencies since early 2007."

A particular area of interest for those from overseas is properties in the £1 million-plus market. According to figures released last month by Lloyds TSB, there were 3,375 purchases in London for that price or more during the first six months of 2011.

London Property Market News

Paramount Properties Offer Nandos Meal Vouchers for New Customers

2011-11-25T02:47:00.000-08:00

If you're thinking of moving to West Hampstead or the NW6 area, there is now another advantage. Not only have you got lovely shops, great community activities for adults as well as children and fantastic transport links, now you can get a delicious Nando’s for free!

West Hampstead’s West End Lane branch of Nando's are offering a free whole chicken meal to residents who have recently moved to the local area through Paramount Properties, either renting or purchased. We at Paramount have been given vouchers to hand out to new tenants and home owners in the area until January 2012 which entitles you to your free meal.

Nando's is a Portuguese restaurant, serving predominantly chicken dishes. The specialise in flame-grilled Peri Peri chicken which is served in quarters, halves, wholes and butterfly breasts. Nando's also serves burgers, pitas, salads, wings and wraps along with some vegetarian meals and the odd meal with beef.

The Peri-Peri flavour comes form the African Birds Eye Chillies once called Pili Pili meaning Pepper Pepper by the indigenous Africans. The restaurant began in 1987 when Robert Brozin and Fernando Duarte bought a restaurant in Johannesburg, they named the restaurant Nando's after Duarte. - a couple of little Nando’s fact for you!

The West End Lane Nando's takes pride in serving it's customers and cannot wait to welcome you to their restaurant and hopefully become their local regulars. For more information on the history and menu please visit the official Nando's website.

Please also contact Paramout directly of you are looking to rent or buy a property in the North West London, NW6 / West Hampsead area, call 020 7372 0202.

Tenant Demand Remains Strong

2011-11-20T02:02:00.000-08:00

Figures released today by the Council of Mortgage Lenders (CML) show that the buy to let market is still strong.According to the body, mortgage loans to landlords increased by 16 per cent in the third quarter of this year.

Over the same three-month period, the amount of money loaned by financial institutions for property investment rose by 19 per cent, showing that banks and building societies are regaining their confidence in the buy to let sector.

A total of 34,500 buy to let mortgage advances were made in the quarter totalling an incredible £3.2 billion. It is the highest buy to let lending as stood since the onset of the credit crunch in 2008.

CML director general, Paul Smee, stated: "With tenant demand remaining strong in the rental sector, some existing buy-to-let landlords have been expanding their portfolios and the growth that returned to the sector in the preceding quarter has continued.”

Mark Durban, senior lettings agent at Paramount, said recently that at present the demand for rental property is so high that it exceeds the number of homes available.

Buy to Let Investment News

Queens Park Apartment For Rent, Available Mid January 2012

2011-11-17T03:40:00.000-08:00

Brondesbury Villas, Queens Park, London, NW6

A beautiful two double bedroom top floor apartment located moments from the cosmopolitan delights of Salusbury Road and the famous Queens Park. Decorated in neutral tones the apartment offers a fully fitted kitchen and modern bathroom as well as a large reception room, master bedroom and second smaller double bedroom, available part furnished from 15th January 2012.

North London Flat for Rent

Landlords and Tenants Liabilities for Water Bills

2011-11-15T05:09:00.000-08:00

The Water Industry Act 1999 banned water suppliers from diconnecting water supplies from consumers, even if they were failing to pay their bills. This has led to a growing problem of unpaid water bills that far outstrips the outstanding debts owed for other types of utility. According to industry figures, in 2007 19% of domestic water customers were in arrears with their water bill as compared to 5% of electricity customers and 3.7% of gas customers. It is believed that tenants represent a significant number of these overdue bills and the water companies complain that the lack of information about their future whereabouts makes it is very difficult to pursue those debts.

All this may be about to change however. Section 45 of the Flood & Water Management Act 2010 contains provisions which require landlords to give information about their tenants to the relevant water company. A failure to do so will leave the landlord jointly and severally liable for the water bill alongside the tenants.

At the moment the section has been brought into force (in October 2010) but only for the purpose of making secondary legislation to set out how it will work in practice. It is believed that this will include the setting up of websites by the various water companies to make the provision of the necessary information as simple as possible. There is scope for landlords to be exempt from liability for the provision of false or incomplete data provided that they have taken such reasonable steps as are specified in the regulations to ensure that the data is accurate. The secondary legislation will probably be in force from October 2011 and the obligation will therefore come into effect from that date.

The section contains an exemption which means that no liability will fall on an agent or trustee due to their position. The responsibility is solely that of the principal. However, agents will need to be aware of the changes and should consider how best to adjust their procedures and documents to assist their clients in dealing with the new obligations. Consideration should be given as to what information is likely to be required (full names, previous and forwarding addresses are the most probable candidates) and how this can be collected and verified for accuracy.

Refurbished Apartment for Sale Queens Park

2011-11-10T01:27:00.000-08:00

London Flat for Sale, Queens Park

A spacious (1,165 sq ft) newly refurbished three double bedroom two bathroom duplex flat set over the top two floors of this three storey period building and located in a popular road of Queens Park.

The property is situated a short walk from Queens Park underground station (Bakerloo Line) and the variety of shops, gastro pubs and deli's along Salusbury Road. Kensal Green/ Kensal Rise is also within easy reach.

The accommodation comprises entrance to the first floor with stairs to the second floor; a rear facing third double bedroom with wood floors and fitted wardrobes, a modern fitted bathroom incorporating a white three piece suite, a separate shower cubicle and a heated towel rail; the second double bedroom with fitted wardrobes and wood floors and a spacious 18' front facing reception room with wood floors, a modern open plan kitchen with Granite worktops and integral appliances.

The accommodation to the top floor comprises the 17' master bedroom with wood floors, fitted wardrobes, eaves storage and direct access to the rear flat roof and a modern ensuite shower room with a heated towel rail and an extractor fan.

Further benefits include the potential to create a South facing roof terrace accessible from the master bedroom (Subject to Planning Permission), long lease and no upper chain.

This property has been refurbished to a high standard and an early viewing is strongly advised to avoid disappointment!

Harvist Road, Queens Park, London, NW6

UK House Prices Rose Between September and October

2011-11-08T02:51:00.000-08:00

The average house price across the UK rose by 1.2 per cent between September and October, in a further sign of the high degree of resilience that has been shown by housing market over the past 12 months in the face of challenging economic conditions, according to Halifax.

Data from the latest Halifax monthly house price index showed that the average house price rose by 1.2 per cent between September and October, but is down over the past quarter by 0.3 per cent and on an annual basis by 1.8 per cent.

Martin Ellis, housing economist at Halifax, said that while the monthly picture in terms of house prices had been mixed for some time, the market was proving ‘highly resilient’ in spite of a weak economic recovery.

He said: “Whilst there have been five monthly price rises, four falls and one month of no change, there has been little change in prices during 2011 overall.

“The housing market has proved highly resilient in recent months despite the weak economic recovery and the deterioration in the outlook for both the UK and global economies.”

Mr Ellis claimed that despite these developments, house sales and the supply of properties for sale have remained very stable since late 2010.

Queens Park Refurbished Apartment for Sale

2011-11-04T02:05:00.000-07:00

Hartland Road, Queens Park, London, NW6 £189,000 Leasehold

A newly refurbished studio flat, set on the first floor of this recently redecorated two storey middle terrace period house in the heart of Queens Park.

The property is situated along a popular tree lined street just a short walk to the Bakerloo and overground stations at Queens Park and the plethora of local cafes, restaurants and shops along Salusbury road.

The accommodation comprises of the 15' rear facing double aspect studio room with wood floors; a separate modern fitted kitchen with an integral electric hob and oven, a fitted breakfast bar and a space for a washing machine.

Further benefits include a luxury fitted shower room with a heated towel rail and an extractor fan, double glazing, gas central heating, entryphone system and no upper chain.

The property has been completely refurbished and an early viewing is strongly advised to avoid disappointment.

Property for Sale, Queens Park

Cash Rich Foreign Investors Snap Up Maida Vale Property

2011-11-01T04:03:00.000-07:00

With their own economy continuing to flatline, growing numbers of Greek nationals are opting to put their money into London property investments, it has been reported.

Over the past couple of years, property industry experts have noted a marked rise in the number of cash-rich foreigners snapping up assets in the capital, for example UAE residents purchasing flats and houses for sale in Maida Vale and Belsize Park.

Now, the Evening Standard has revealed that Greeks are the latest group to join in the rush for homes in the city, citing Knight Frank figures that show they have invested a collective £250 million in the residential property sector over the last 12 months alone.

Furthermore, this trend is set to continue as wealthy Greeks look to move their money so as to avoid ongoing efforts to boost the national coffers through higher taxes.

Meanwhile, Australian action man Hugh Jackman has become the latest big-name celebrity to be linked with a new London home after he told the website findaproperty.com that he regrets giving up the property he once owned in Pimlico.

London Property Market News

Apartment for Rent, Sutherland Avenue, Maida Vale

2011-10-29T07:59:00.000-07:00

Sutherland Avenue, Maida Vale, London, W9

A beautiful two double bedroom two bathroom second floor apartment within this imposing semi-detached Victorian property close to both Maida Vale and Warwick Avenue underground stations and ideally positioned for the shops, restaurants and cafes of both Little Venice and Maida Vale. The property comprises a spacious reception room, master bedroom with ensuite bathroom and dressing area, smaller second double bedroom, fitted kitchen with modern appliances including dishwasher and leading to a fantastic roof terrace, available unfurnished or part furnished, NOW!

North London Apartment for Rent, Maida Vale

London Property Sale Prices North South Divide

2011-10-28T04:48:00.000-07:00

Property wire reports that prime residential property in central London has shown strong price growth over the past year of 13.6% but the rate of growth slowed to just 1.1% in the third quarter, a new report shows.

The analysis from Savills also shows that prices rose by an average of just 1.1% over the three months to the end of September compared to 6.4% from January to June.

There is continuing demand from overseas buyers looking for a global safe haven investment and some 58% of buyers were foreign nationals, with over one in five buying for investment. Less than half of buyers were acquiring property for use as their main residence and British buyers accounted for less than half of all purchases.

Those prime markets dominated by domestic demand have generally shown lower levels of price growth. But all prime London remains relatively buoyant compared to the mainstream UK market.

Within prime South West London, values rose by 1.3% in the quarter, taking annual price growth to 7.1%. This continued price growth has been underpinned by low levels of available stock. Those households selling prime family homes in the area are tending to recycle their housing wealth locally rather than make a move into the commuter belt.

The relative strength of the sub-markets is also seen in the sale price asking price ratio. In both central London and the prime markets of North London, including Hampstead and Islington, sale prices averaged 1% to 2% above asking price in the three months to the end of September.

By contrast, in South West London and the prime East of City markets they were 5% and 6% below asking price respectively.

The prime markets of Wapping and Canary Wharf have generally seen the least strong recovery since the downturn, although prices are 1.7% above their 2007 peak, with year to date growth of 4%. These areas have seen reduced levels of owner occupier demand from those employed in the financial and business services sector, but this has presented investment opportunities which have attracted overseas interest.