Category Archives: Property & Construction

Housing, News, Property & Construction, Property News

Castle Green Hands Over Affordable Homes in Rhosrobin

THE first phase of new affordable homes in Rhosrobin have been delivered under a deal between Castle Green Partnerships and North Wales Housing Association.

It’s the third housing association Castle Green has partnered with in North Wales as part of its commitment to providing affordable housing.

At Llys y Coed on Main Road, Rhosrobin, 47 affordable homes are being provided under a development agreement signed in January, as part of the Section 106 contributions agreed during the planning process. 30 of the homes are now complete. The first of those homes have now been handed over to NWHA and tenants will be moving into all of the completed homes in the next few weeks.

Contracts were exchanged last month on a deal for a further 14 homes, known as additionality units, six of which are now complete.

 

Eoin O’Donnell, partnerships director at Castle Green Partnerships, said: “Handing over homes under our partnership with North Wales Housing Association marks a key milestone in what we hope will be lasting and mutually beneficial relationship. Llys y Coed was among the schemes held up because of issues relating to phosphates, environmental targets and waste water, which meant a lack of new homes being built in the Wrexham area in recent years. This in turn has contributed to a deficit of much-needed affordable housing. The fact that North Wales Housing Association have purchased additional homes is an indicator of the high demand in the area for affordable homes.”

Castle Green Partnerships, part of St Asaph based Castle Green Homes, specialises in building homes for housing associations.

Lauren Eaton-Jones, assistant director of development at North Wales Housing Association, said: “We are delighted to have partnered with Castle Green to provide 61 homes in Rhosrobin, Wrexham, as part of our drive to provide more affordable homes in all six local authorities across North Wales.

“We are determined to make a difference for communities across North Wales, providing safe, well- maintained and affordable homes for our residents. Growth and development are extremely important in our vision.

“These houses are of the highest quality and will be homes that our residents will be proud to live in.

“We hope this is just the start of our partnership with Castle Green as we look to work together and deliver homes where they are needed the most.”

The affordable homes in Rhosrobin are part of a wider 189 home development taking shape across a 39 acre site.

Work started on site in November 2023 and is expected to be complete by June 2025.

Half of the overall Llys y Coed development is preserved as open space, including the retention of ancient woodlands, for walks and bike trails.

Castle Green will fund improvements to Watts Dyke, a Scheduled Ancient Monument within the public open space, and provide a 400 square metre local equipped area of play, with seven pieces of play equipment.

To support the growth of the neighbourhood, Castle Green will make a £400,000 education contribution.

News, Property, Property & Construction

Anwyl Submits Plans For New Homes in Carrington

ANWYL Homes has submitted detailed plans for 144 new homes on land known as The Meadow at Carrington Village.

The homebuilder consulted extensively with Trafford Council to incorporate the council’s new design code requirements, before making the reserved matters application (Ref: 113151/RES/24).

Anwyl plans to build 144 bespoke designed new homes, including a mix of houses and apartments, across the 15-acre site, one of the gateway sites to the new Carrington Village.

The 130 private sale homes planned include two, three and four-bedroom properties.  The remaining 14 homes will be a mix of two and three-bedroom affordable rent and shared ownership properties.

The Anwyl site, on Manchester Road, forms part of Carrington Village which is an exciting opportunity to create a new vibrant community in South Manchester. The Carrington Estate is one of the UK’s largest regeneration schemes. It comprises approximately 1,665 acres and will provide a mix of industrial, logistics, manufacturing, office and residential development, alongside new community facilities. The current masterplan proposes a total of 5 million sq.ft of commercial accommodation and 5,000 residential units.

John Grime, Managing Director for Anwyl Homes Lancashire, said: “Our site, The Meadow, enjoys a key position within the new Carrington Village and as a result of its location it will provide Anwyl with a prominent site in an area where there is a proven demand for housing alongside a short supply of new homes.

“Our project team, which includes Asteer Planning, Calderpeel Architects, Urban Green, GTD and Eddisons have been working hard with Anwyl and the Council to develop high quality proposals for The Meadow since we acquired the site from Wain Estates in September 2022. The scheme utilises a range of bespoke designed house types, set within existing mature trees along the site’s frontage. We also intend to carry out extensive new landscaping to create tree lined streets leading to two feature pocket parks and a central local equipped area of play.

“While we only recently submitted a reserved matters planning application, potential purchasers have been enquiring about the homes since the acquisition of the development and are keen to know when they will be on sale, such is the demand for new homes in the area. Subject to planning, work could start later this year, with the first homes expected to be released for sale in summer 2025.”

To help support the growth of the neighbourhood Anwyl will make S106 contributions towards primary education facilities totalling £236,890 (index linked), plus contributions towards a travel plan coordinator along with a community infrastructure levy payment.

The scheme’s sustainability credentials are also noteworthy.

“We’re committed to delivering energy efficient homes that help people live more sustainable lifestyles,” John added.

“The proposed homes at The Meadow will include renewable technology in the form of either photovoltaic panels or ground/air source heat pumps to provide heating and hot water. All homes will benefit from electric vehicle charging points too. The development will also look to provide a Biodiversity Net Gain of 5.26 area habitat units (40.4%) which is well above the national requirement for a minimum of 10%.”

Anwyl’s plans for new homes in Carrington are part of a targeted push to deliver more homes across Greater Manchester. The homebuilder is currently building and selling new homes at Whittle Brook Park in Heywood, as part of the wider new West Hopwood community. The company is keen to acquire further development land to assist with its growth aspirations.

Operating from Buckshaw Village, Anwyl Homes Lancashire also has live sites across Lancashire in Burscough, Catterall, Eccleston, Longridge and Warton, plus at Winnington, in Cheshire.

News, Overseas Property, Property, Property & Construction

EDB Mauritius returns to London for another exciting edition of the Mauritius Property & Investment Forum

The Economic Development Board (EDB) Mauritius is set to return to London this spring, to host the second edition of the Property and Investment Forum, following the success of its 2023 event.

Taking place at the Conrad London St James Hotel in Westminster on Friday, May 31, 2024, this flagship event aims to provide valuable insights into the exciting growth and development opportunities on the island for Business Leaders, High-Net-Worth Individuals, and Property Investors.

Commencing at 09:30 hrs, the Property and Investment Forum will feature esteemed speakers from Mauritius – including government officials, leading real estate developers, legal experts, notaries, tax specialists, prominent banks, and management companies – enabling UK business leaders and investors to understand how the Island has maintained a strong economy in recent years compared to national markets.

Mauritius shines as a beacon of innovation, strategic foresight, and economic resilience. Positioned as the star and key of the India Ocean, the island stands as a testament to the transformative power of innovation and diversified economic strategies. Consistently recognized for its excellence, Mauritius boats impressive accolades, including ranking 13th worldwide and 1st in Africa for ease of doing business. Mauritius unwavering political stability and commitment to economic freedom further solidify its status as a premier destination for discerning investors and ambitious entrepreneurs.

The business opportunities in Mauritius are vast and varied, ranging from financial services, tourism, and real estate to emerging sectors such as information and communications technology, higher education, biotechnology, and renewable energy.

Committed to establishing Mauritius as a leading investment platform for economic growth, the Economic Development Board also plans to leverage the Forum to attract more UK citizens to the island.  For the period 2019 to September 2023, Mauritius has registered 91 million GBP in terms of Foreign Direct Investment from UK. As at date, more than 400 British have pledged interest in its Premium Visa and 395 as Retired Non-Citizens.

The Property and Investment Forums play a key role in enabling us to achieve this and in showcasing what life, business and investment could look like in Mauritius. We are, therefore, delighted to return to London this Spring – particularly following the success of our 2023 event – and look forward to educating more business leaders and investors on the opportunities available for personal and professional growth in Mauritius.”

To find out more about the EDB Mauritius Property and Investment Forum and to register your interest by clicking on the following link:

https://forms.edbmauritius.org/cn/al935/London

Healthcare, News, Property & Construction

Property Developer Pioneering ESG Practices in Healthcare Space

Urban Village Group, a leading property development firm, is spearheading sustainable practices in the healthcare space, prioritising environmental, social, and economic considerations.

Recognising the critical role of sustainability in the property and construction market, Urban Village Group is committed to transforming the healthcare industry.

The company follows stringent green building standards such as LEED (Leadership in Energy and Environmental Design) and BREEAM (Building Research Establishment Environmental Assessment Method). These guidelines ensure sustainable construction, energy efficiency, and environmental performance, aligning with Urban Village Group’s dedication to sustainability.

Energy efficiency takes centre stage in the company’s approach, incorporating designs and technologies that optimise energy consumption. This includes the integration of energy-efficient appliances, insulation, and renewable sources like solar panels. Smart building technologies further enhance energy efficiency, benefiting both the company and its stakeholders.

Urban Village Group places a strong emphasis on eco- friendly and sustainable materials in its construction projects. The company carefully considers the environmental impact, durability, and recyclability of materials, promoting the use of recycled or locally sourced options to reduce carbon footprint.

A waste reduction strategy is integral to the construction process, with practices such as recycling construction waste, minimising packaging, and innovative repurposing methods. Sustainable demolition practices are also employed when needed.

Water-efficient technologies and landscaping designs are seamlessly integrated, reducing water consumption across all projects. Rainwater harvesting systems, low- flow fixtures, and landscaping contribute to the company’s commitment to water conservation.

Engaging with local communities is a cornerstone of Urban Village Group’s sustainable approach. The company seeks input from communities to align projects with local values, enhancing the social sustainability of developments.

Urban Village Group remains committed to long-term sustainability, implementing plans for maintenance and monitoring of sustainable features. Regular assessments ensure that properties continue to operate efficiently over time.

Staying at the forefront of sustainable construction, Urban Village Group embraces innovations that improve efficiency, reduce environmental impact, and enhance overall sustainability. The company emphasises a holistic approach, considering economic, social, and environmental factors in decision-making processes.

For more information on Urban Village Group’s pioneering efforts in sustainable healthcare development, please visit: www.urbanvillagegroup.com

News, Property, Property & Construction

Leef acquires Nottingham-based lettings business continuing expansion

A fast-growing property management business has acquired the lettings arm of Hockley Developments, one of the largest supported living and residential development companies based in the East Midlands.

The Leef Property Group has acquired Sherwood Lettings and Management Ltd adding Sherwood’s 100+ units to its existing 3,000-strong portfolio of managed properties, which span from the Midlands to the North East and Yorkshire.

The Warrington based business, which has operated a local team in the Nottingham area for more than five years, already has experienced agents covering the Midlands region to lease and manage the properties, supported by its head office function.

This latest acquisition is another boost to Leef’s fast ascending trajectory that’s seen it bolster its portfolio by more than 800 managed properties already this year. It’s on track to more than double its current portfolio within the next three years through new relationships with developers, investment companies and sales agencies.

 

Joe Knowles, co-founder and director of The Leef Property Group, said: “We’ve had a close relationship with Hockley Developments for a number of years and are familiar with its developments, so taking over the professional management of its rental portfolio fits perfectly into our operating model and specialisms. We’re expanding rapidly within the Nottingham area, which has a burgeoning rental market. Track Capital’s 2023 report placed Nottingham seventh out of all towns and cities in the UK in terms of rental yields. The average for Nottingham properties is 5.94%, which is well above the East Midlands average of 4.1%.

“As we have a proven scalable model, and unrivalled experience, we believe we have the capability to more than double our operations by attracting a range of clients from asset managers to property developers who are placing new schemes under our full management. Business acquisition is another key part of our future growth strategy.”

 

Managing director of Hockley Developments and Sherwood Lettings Alan Forsyth commented: “The sale of our rentals management arm to Leef enables us to focus on our core business strategy most notably the design and build of Supported Living developments, as well as sustainably led residential schemes. Lettings Manager Daniella Martin added “It will also ensure that Landlords will benefit from Leef’s exceptional levels of service, delivered through its well-honed processes and experienced team.”

 

https://www.leefproperties.com/

News, Property, Property & Construction, Property Rentals

Soaring Number of Properties Being Impacted by Cases of Mould

NEW: Expert shares his advice on how to best deal with the problem which comes at the same time as rise in cases of bedbugs.

BRITAIN is in the grip of a new mould crisis, a leading property has warned.

Jonathan Rolande says he is seeing more and more cases of mould infestations inside properties.

And with Winter approaching, Mr Rolande, the founder of House Buy Fast, warned the problem is going to get worse.

His warning comes amid fears bedbugs are also becoming a rising issue for many homeowners and renters.

He said:“Damp and mouldy homes don’t just make life a misery – they put lives at risk. I fear the cost of living crisis is only making this issue more acute. I am seeing more and more cases of this at the moment in properties I am viewing and in pictures shared with me by colleagues in the industry.”

Explaining the main reasons properties suffer with dampness, Mr Rolande said: “Rain is a massive contributory factor. This can enter the home through a porous external wall or because of defective guttering or roofing. Once it has penetrated it soaks into insulation and plasterwork. This is a perfect environment for mould to grow. The UK is experiencing increasing amounts of torrential rainfall.

“Rising damp is a problem too. A more unusual cause as most properties built after 1930 have an adequate damp proof course (DPC)  to stop moisture from the ground from entering the home. However, the DPC can be breached if soil or paving is built up around the outside walls.

“Condensation often creates damp as well. We all experience condensation in our homes when cooking or after a shower. Good ventilation is key, moisture has to be allowed to escape. Many people don’t ventilate adequately in an effort to preserve warmth in the home.”

Property expert Jonathan’s advice on the topic:

“Act fast, dampness doesn’t fix itself. Try to establish the cause. Advise your landlord or get a builder/surveyor if you’re unsure of anything.

You should start by checking what kind of damp it is. Rising damp won’t go more than a metre above ground level. Rain can get in anywhere so check the walls for cracks, look at whether gutters and downpipes are clear. And check if there are any tiles missing. Joints around chimneys and flashing (usually grey lead) are common causes of damp too.

“Look at whether your home is too well insulated. Can fresh air get in? Can moisture escape? You may be causing condensation problems. Reduce it by opening windows, especially when cooking/bathing. Use lids on pans when you cook. Don’t dry clothes indoors. Check vents and chimneys haven’t been blocked. Use a dehumidifier and see how much is collected.

“To remove mould, wipe with a cloth and use a mild bleach solution but always investigate the reason it’s there. If you feel your landlord isn’t taking it seriously, put the issue in writing and include photographs. If you suspect condensation may be the issue, take steps to reduce it and inform your landlord of this as well – if the dampness persists, it is likely to be an issue with the building.

“In regard to other ways to reduce condensation so you’re not wasting energy, moisture traps work well and are cheap to buy. Some plants such as palms also absorb moisture and look nice too, but the effect is limited.

“Ensure there are no leaks from pipes, the roof or through the walls – defective pointing between the bricks is very common and can add to the problem. Consider positive input ventilation too, although it is pricey. Should you turn the heating on as well? I’d recommend it if you can. A heated home is certainly less damp.

“And finally remember though that any case of mould can be different. Although these steps will hopefully help, you could still experience issues. If that’s the case there may be a structural issue causing it – and you should seek professional advice. If your home is rented make sure you speak to your landlord. A sensible landlord will want to deal with the problem not just to make life better for you – but for the long term sake of the property they own as well.”

 

Appointments, News, Property, Property & Construction

Lexica’s Property Consultancy team strengthens North West presence with new Associate Director Yogesh Luhar

Lexica, a specialist consultancy supporting health and life sciences organisations in the UK and internationally, is pleased to announce the appointment of Yogesh Luhar as Associate Director to the Property Consultancy team. Based in Manchester, Yogesh will focus on expanding Lexica’s presence across the North West of England.

With over 30 years of experience in estates and asset management growth strategies across the NHS and wider public sector, Yogesh brings a wealth of knowledge that will be invaluable as Lexica continues to grow its team and client base in the region. Prior to joining Lexica, Yogesh ran his own consultancy firm, YRL Consulting Ltd, where he successfully led regional expansion initiatives and business development efforts including an estate strategy for a large healthcare partnership valued at around £320m.

With a strong entrepreneurial drive and proven track record for business development, Yogesh Luhar has successfully managed multimillion-pound initiatives and led high-performing teams. His expertise in efficiently and cost-effectively managing healthcare real estate assets is important as Lexica aims to deliver its health and life sciences strategy across the North West.

Stephen Edgar, Lexica’s Director of Property Consultancy, commented: “I’m delighted to welcome Yogesh to the Lexica team. His leadership and regional market expertise will be pivotal as we enhance our capabilities across the North West. I am confident that Yogesh will be instrumental in accelerating our already rapid growth in the region.”

In his new role as Associate Director, Yogesh will oversee Lexica’s full range of property consultancy services across various clients in the North West, including strategic estate reviews, asset management, business case development and more. He will also focus on acquiring new client relationships and leading business development strategies for the region.

“I am excited to be joining Lexica at this important stage in its growth,” said Yogesh Luhar. “Lexica has an impressive track record for delivering high quality consultancy services for the health and life sciences sectors informed by industry-leading insights. I look forward to working with the talented team to expand our presence and continue providing best-in-class service to all our clients across the North of England.”

For more information about Lexica’s consultancy services, visit Lexica.

Cleaning & Facilities Management, Property & Construction

Improving Rental Property Conditions: The Impact of End of Tenancy Cleaning

In the bustling world of rental properties, maintenance and improvements play pivotal roles in preserving not only the structural integrity of the buildings but also their market appeal.

One crucial, yet often overlooked aspect of property maintenance is the move out cleaning. This isn’t simply an obligation; it’s an opportunity, a chance to revitalise and enhance your rental property, offering a fresh, welcoming space to potential tenants.

Understanding End of Tenancy Cleaning

End of Tenancy Cleaning refers to the comprehensive cleaning process carried out once a tenant vacates a property and before a new tenant moves in. This goes beyond your usual sweep and mop routine, extending to deep cleaning of every corner, crevice, and fixture in the property.

From steam cleaning carpets and sanitising bathrooms to degreasing kitchen appliances and ensuring the windows sparkle, the aim is to restore the property to its original, pristine condition. The benefits of this practice are twofold – it ensures the property remains in good repair, and it significantly enhances the appeal to prospective tenants.

The Impact of End of Tenancy Cleaning on Rental Property Conditions

Maintaining Property Quality

The consistent practice of End of Tenancy Cleaning contributes enormously to maintaining the property’s quality. Regular, thorough cleaning can help to identify potential problems before they worsen, such as mould growth, peeling paint or tile damage. By addressing these issues early, landlords can prevent more severe structural damage in the long run.

Enhancing Property Appeal

When a prospective tenant walks into a property, the cleanliness of the space can strongly influence their first impression. A spotless, well-maintained property is more likely to attract and retain high-quality tenants who value and respect their living environment. It’s a cycle of positivity – a clean property encourages tenants to maintain that cleanliness, leading to a better-maintained property overall.

Preventing Major Renovations

End of Tenancy Cleaning is also a cost-effective method to stave off expensive renovations. By regularly deep cleaning the property, potential issues can be detected and rectified early. Regular upkeep mitigates the risk of damages escalating to the point of requiring extensive, costly repairs.

Value Increment

The value of a rental property is significantly impacted by its condition, cleanliness, and overall appeal. A well-maintained property, subjected to regular and thorough end of tenancy cleaning, can warrant higher rental prices and enhance the owner’s return on investment. This relationship between cleanliness and value is multifaceted, with several key considerations.

 

  • Perceived Value: First impressions matter, especially in the property rental market. A spotless, well-cared-for property gives potential tenants the impression of a high-quality, valuable space. It suggests that the landlord takes care of their property and will be attentive to tenant needs. This perception can translate directly into a higher willingness to pay.

 

  • Maintenance Costs: A property that undergoes regular End of Tenancy Cleaning is likely to have fewer maintenance issues. Tenants can often be put off by the prospect of hidden maintenance costs in a rental property. However, the sight of a well-maintained, clean property can assuage these fears, reinforcing the property’s value and justifying a higher rent.

 

  • Tenant Satisfaction and Retention: Consistently clean properties lead to higher tenant satisfaction rates. Happy tenants are more likely to stay longer and even accept reasonable rent increases, contributing to the property’s long-term yield.

 

  • Property Longevity: Regular comprehensive cleaning helps maintain the structural quality of the property. This helps to preserve or even increase its market value over time, as it stays attractive and functional, leading to less time on the market and higher rental prices.

 

  • Competitive Advantage: In a competitive rental market, cleanliness can be a strong differentiator. Prospective tenants comparing different properties will look favourably on a property that is immaculate and well-cared-for. This can allow landlords to command a rental price premium, ultimately increasing the property’s income-generating potential.

Best Practices for End of Tenancy Cleaning

Successful cleaning requires a comprehensive and meticulous approach. It’s not just about tidying up; it’s a significant part of the property’s overall maintenance and improvement strategy. Here are some best practices that can make the process more effective:

 

  • Prepare a Detailed Checklist: A thorough cleaning checklist is your best tool. Break it down by rooms – kitchen, bathroom, bedrooms, living room, etc. Each room should have a list of tasks associated with it. For instance, in the kitchen, cleaning tasks might include degreasing the oven and stove, emptying and cleaning the refrigerator, scrubbing the sink, cleaning cabinets, and wiping down countertops.

 

  • Don’t Overlook Unnoticed Areas: The unseen spots like behind the fridge, the top of cupboards, and inside light fixtures often accumulate the most dirt and grime. Regularly cleaning these areas prevents build-ups that can lead to longer-term issues like pest infestations or mould growth, which may require substantial home improvement interventions to fix.

 

  • Invest in Quality Cleaning Supplies: Using professional-grade cleaning supplies can make a big difference in the quality and efficiency of your cleaning. From microfibre cloths and extendable dusters to powerful cleaners and degreasers, the right tools will ensure you can tackle any task effectively.

 

  • Focus on High-Touch Areas: Frequently touched surfaces like doorknobs, light switches, and remote controls can become hotspots for germs. Regular disinfection of these areas contributes to a healthier living environment.

 

  • Deep Clean Carpets and Upholstery: These areas are often magnets for dust, dirt, and allergens. Consider hiring a professional service or renting a carpet cleaner to thoroughly clean these surfaces.

 

  • Attend to the Exterior: If your property has a garden, balcony, or patio, ensure these areas are also cleaned and tidied. Clearing gutters, power washing patios, and pruning plants can significantly enhance the property’s curb appeal.

 

  • Consider the Property’s Age: Older properties may require more specific care, such as delicate woodwork, unique stonework, or antique fixtures. These details should be carefully cleaned to prevent damage and maintain the property’s charm.

 

  • Plan for Repairs and Upgrades: While cleaning, note any areas that may need repair or upgrading. This might include chipped paint, broken tiles, leaky faucets, or outdated fixtures. Addressing these issues proactively can prevent them from becoming more significant problems later on, and it’s a chance to introduce some home improvement tasks that can boost your property’s value and appeal.

 

Remember, tenancy cleaning isn’t just about making the property look good for the next tenant; it’s a key part of your overall home improvement strategy. By keeping your property clean, well-maintained, and up-to-date, you can ensure it continues to attract quality tenants and provide a solid return on your investment.

 

The Role of Professional Cleaning Services

While landlords can certainly undertake End of Tenancy Cleaning themselves, hiring professional cleaning services often provides a more thorough and efficient result. Professional cleaners are experienced in dealing with all kinds of cleaning situations and are well-versed in ensuring every nook and cranny is attended to.

One such service, Skycleaners, located at 83 Drapers Rd, London E15 2AZ, offers top-quality cleaning services. They’re reputed for their meticulous attention to detail and unwavering commitment to quality. With a customer-centric approach, they offer free quotes at 07879 101049, and they’re more than happy to accommodate the specific needs of each property.

Conclusion

End of Tenancy Cleaning is a powerful tool for any landlord or property manager. It’s an investment in the property’s longevity and marketability. By adopting a proactive approach to this essential task, you can significantly enhance the conditions of your rental property, thereby securing a higher return on your investment.

 

Construction, Property, Property & Construction

What are the different types of modular homes?

Modular homes represent an innovative and diverse solution in the construction industry. You may have seen these modern solutions many times in London and other cities, as they are in demand among customers. London Trident Modular makes customers’ dreams come true and offer a wide range of options. If you are interested in the details, keep reading this article. 

Modular construction options

Modular houses can be realised for different purposes. They are characterised by their versatility and flexibility and are therefore not only suitable for living. They are built for cosy small offices, garden houses and other variants to suit your taste. Let’s list their varieties:

  • Single level modular homes. These homes are made up of one or more modules connected to each other. They can be of different shapes and sizes, ideal for different purposes, such as a small country cottage or office space. Such designs are on trend right now, so they look very stylish.
  • Two-storey modular houses. Such buildings consist of two modules connected vertically. They provide additional space for housing or office purposes. Two-storey modular homes can have distinctive architecture and design, creating a unique look.
  • Modular houses with non-standard configuration. These houses can be created with a bold and original design, have an interesting and unusual shape. These modular homes are often used for commercial purposes such as cafes, shops or exhibition spaces as they attract attention. 
  • Self-contained garden studio. It is ideal for office spaces, thanks to the open space that provides quality natural light. Despite its compact size, it can accommodate everything you need for a comfortable and efficient pastime.

Our company can offer different configurations, as well as a modular home installation service in London. The variety of offers will allow you to find the perfect design for your taste and make a quick order. There are different configurations, ranging from standard to premium, so the financial aspects also differ and suit the calculations of different customers. 

Findings

Long dreamed of a country house, garden room, modular office or other structures at an affordable price? Contact our company, which specialises in building the best modular homes in modern design. This practical solution, which contains all the benefits of civilisation, including electricity, water supply, etc., can be obtained in a short time. No long waits are necessary, and despite this, experienced professionals will take on the job. In just a couple of weeks or up to 2 months, your dream room will be ready.

News, Property, Property & Construction

As Fears Grow Over House Prices, Experts Ask: Is Now The Right Time to Rent or Buy?

Written by Jonathan Rolande, National Association of Property Buyers. 

It’s a question I am being asked on an almost daily basis: am I better off renting or buying right now? Now, many people are sadly not in a position where they can choose – not least because the housing market has a lack of supply which has pushed up prices.

Prices remain high despite interest rates increasing quickly and adding to the cost of a mortgage.  It means those that are considering a purchase are rightly questioning whether now is the best time to buy and what the financial and other differences might be.

Before we look into that, it is essential to look at the property market in general and where it might be going in the coming months and years. In truth, nobody can say for sure but some things are, shall we say, very likely to happen, if not absolutely certain.

Capital growth, the difference between the price paid and its value is a significant reason many opt to purchase as soon as they can. Prices have been rising constantly for almost 15 years. The wage-to-price ratio has rocketed from a modest 5 times income to 1o-times, in London more like 14-times in short, almost everybody who has bought a property since 2009 has made a significant amount of money and had a home.

But is that about to change? There has been a gradual erosion of prices over the last year and many – almost all – of the economic predictions are at best gloomy. The big question is, will it continue or will the market prove more resilient than many fear? Nobody can tell you with any true confidence the answer. As far as capital growth goes, it is for each person to decide their own willingness to take that risk, and their own ability to pay a mortgage if rates rise further.

But a property isn’t purely an investment, it is a home.

There are plenty of reasons why renting or buying has other benefits and drawbacks.

And here are what I believe to be the most important things to consider if you are deciding between renting and buying.

London. UK- 05.24.2023. A row of apartment to let sign from a number of estate agents outside a block of flats.
  • Time. Once you have found a rental, you can complete all the paperwork in a matter of days and move in. Buying takes months, and even then, nothing is certain until the very last minute.

  • Cost. Tenants pay no fees, just rent. Buyers pay solicitors, mortgage admin fees, searches, surveyors – a long list that adds thousands to the price.

  • Interest. With rates climbing fast, the interest on a mortgage is often much the same as the equivalent rent. Just like rent, interest is dead money and does nothing to help purchase the home.

  • Values. Prices may rise or fall. It’s a gamble if you choose to buy and a gamble if you choose not to.

  • Security. Most tenancies are for a set time period. You will be at the mercy of the landlord who can ask you to leave once this agreed minimum is over. Most tenants feel insecure in their homes.

  • Rent increases. Rents have risen sharply and may continue to do so. Many landlords try to recoup additional costs this way. Others choose to increase just because they can.

  • Repairs. Tenants get the best deal here. Almost all repairs are the landlord’s responsibility. A homeowner has to pay for all repairs.

  • Neighbours and other issues. Tenants have far more freedom to leave quickly and easily at the end of the term so if they don’t get on with the neighbours or don’t like the area, it is less of an ordeal to move.

  • Safety. Rented properties have far stricter safety rules than privately owned homes. Tenants benefit from gas, electricity safety checks and fire safety measures that owners have to pay for – most don’t.

  • Lifestyle/work. The short-term nature of renting, which makes many tenants feel insecure, can also be a benefit for those who do not want a long-term commitment perhaps because of their work or relationships.

  • Tax breaks. If a large profit is made on a home when it is sold, the entire gain is tax-free, a huge potential benefit that tenants miss out on.

 

So, is it the best time to rent or should you buy?  Ultimately, the right decision is, as always, what’s right for you and your circumstances.