The best thing to do with any property at this moment is to look at it from a long term point of view and in the current climate not engage in speculative practices.   To get the best out of your investment call ChaseDevonshire and ask us how to keep your property in the best possible form to keep the value on 0207 740 1770.

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First-time buyers given mortgage boost

The Post Office has launched a 90% loan-to-value mortgage in a sign that rates for first-time buyers are improving

Although not as low as it had been in 2006/7 it is starting to creep back and help the first time buyers to get their foot on the first rung. Naturally this will have an effect on the market but over a longer term period. When you take property as along term investment it ultimately always goes up.

A property purchased in 1980 is worth far more than it was back then. Keeping property for longer than 10 – 25 years means you will make money if you get the right advice and buy low, sell high is all about timing. With prices dipping and demand keeping on the low side as people in the UK market consolidate their savings and cautiously put money into their mortgages and savings, with people repaying more than they are borrowing this is a market that lends itself to clever property investment for the long term view.

Buy to let works, and always will when run by professionals who know the history and are cautious with spending and exact when it comes to the details. ChaseDevonshire has the stability and the history to prove that you can benefit from our advice and professional services, from back office support if you are an agent to tenant support for the landlords.

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According to the Guardian Property  Section with the screen capture below,

the house prices are getting back to where they were in 2006 so now is a good time to buy especially with the first time home owners taxes reduced to account for this historical rise in home prices.

For the first time since this happened in 2006 the property market is set to return to double digit inflation figures in 2010.

With the Conservatives and Labour needing to stimulate the economy , no matter who wins the house price index is set to rise.

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“Rightmove reported that asking prices rose by 2.6 per cent in April after a couple of months of stagnation and estate agency Hamptons International recorded the highest number of sales since the market’s 2007 peak.” -  The Telegraph

How Does This Affect You?

If you own property, then you are in the Pound seats, sit tight, rentals are also climbing.  Property is a long term investment, not a quick fix or a place where you can make quick turnover – at least not now and not for a few years to come.

If you are looking to buy, now is a good time with prices only ever going up!

Waiting too long can cost you your dream home.

Contact ChaseDevonshire now for your letting and rentals on 0207 740 1770.

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House Price Statistics – Greater London

Source website	Period covered	Average house price	Monthly change (%)	Quarterly change (%)	Annual change (%)	Archive /Graph	Peak average house price	Change since peak (%)	Official releases
Communities and Local Government House Price Index	Feb 10	£321,289	N/A	N/A	10.60		£351,096 (Jan 08)	8.49	13/04/2010
Halifax House Price Index	Q4 09	£255,473	N/A	N/A	1.50		£320,847 (Q3 07)	20.38	29/01/2010 (PDF)
Land Registry Monthly Report	Feb 10	£333,394	0.50	N/A	11.90		£357,976 (Jan 08)	6.87	26/03/2010 (PDF)
Nationwide House Price Index	Q1 10	£280,791	N/A	2.50	15.70		£303,739 (Q4 07)	7.56	30/03/2010 (PDF)
Rightmove House Price Index	Mar 10	£417,461	2.50	N/A	4.40		£427,987 (Feb 10)	2.46	15/03/2010 (PDF)

Thank you to HousePriceCrash.co.uk for the statistics.

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“Investment in South Africa’s commercial real estate market produced double-digit nominal total returns of 13%, the SAPOA/IPD Property Index for 2008 shows. However, once last year’s high inflation rate of 11,5% is factored in, these returns equate to inflation-adjusted ‘real returns’ of just 1,3% for 2008. Nominal returns on property values dropped far below the 27.5% which 2007 yielded and were the lowest recorded since 2002. Equities and property equities suffered a defeating -23.2% loss in 2008 whilst the JSE PLS Index returned -2.3% and the JSE PUT Index returned -9.7%.”

However the return on commercial property has been in the positive range of 13%, “We have not witnessed the rapid re-pricing of real estate that is being experienced elsewhere, certainly not on the same scale. Property fundamentals are still coming through quite strongly. However, it is important to bear in mind that the inflation-adjusted total returns, at 1,3%, were modest compared with the average annualised real return of 9,3% over the last 14 years,” said IPD South Africa MD Stan Garrun, who spoke last week at the SAPOA/IPD Property Index launch 2009, in Johannesburg,

BRT-Bus,CTU Rail & Taxi links

In an uncertain world that it quite a vote of confidence. Given the strikes and local temporary shut downs, you could think this was unfounded, however the 2010 engine is still driving forward and with rumours of a new larger project involving transport in the western cape circling within provincial and government circles worth in the region of R80Billion (£6Billion).

New Bus System

On the rest of the industrial and commercial properties, the news  is positive news and a great way to start the Q3.With the strikes having been resolved the new bus rapid transport system back on track, with the stadiums to due to be handed over to the LOC by year end the situation is looking good.

“Last year’s performance was led by the industrial-property sector, which recorded 18,1% total return, followed by offices with 14% and retail at 11,1%.

Income returns for industrial and offices were 9% and 9%, respectively while retail provided 7,8% to produce the all property average income return of 8,3%.

The strength of capital growth differed more widely across the sectors. Industrials led the way, returning 8,4%, followed by offices, at 4,6% and retail, at 3,1%, to produce an average of 4,4% compared to 17,5% last year.

All property yields moved out by 20 basis points over the 12 months, ending December 2008 at 7,7%.” source quoted : Dennis Ndaba,Engineering news

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“Demand is outstripping supply across the UK housing market, with estate agents registering four house hunters to every available property.
The monthly market survey of the National Association of Estate Agents found that the average branch had 299 house hunters on its books in May – up from 265 the previous month and 247 in May 2008.

The average branch had 69 properties on its books. For the second month running estate agents also reported a successful selling period.

The average branch sold 10 properties, a 30 per cent increase on the same time last year and double that sold on average in August 2008.” – According to the house fund, industry web site

Contact  Chase Devonshire on 0207 740 1770 for your property ,investment or tenancy queries and get your dream property!

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“We are also witnessing the same symptoms as we did when we came out of the last recession in the early 1990’s. Firstly, with the London market and activity picking up initially and then rolling out to the Country and secondly, the middle market reviving and the top end remaining problematic. When house prices started to fall in 2007, it was the mainstream market that was hit first and the top end (£3m +) continued to perform well until March 2008. The top end is now behind the curve and continuing to suffer, which has happened in every previous recession – and it is the mid-market that is beginning to recover”. – according to a leading property blog

Contact ChaseDevonshire today to list, sell or manage your property.

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Chase Devonshire is exclusively the international property and asset management company. Our members are reputed for their empathic customer service that is refreshingly equitable for all parties involved.

Our extensive service range includes complete property management, tenant referencing & rent guarantee, tenancy management, building & maintenance, training and property consultancy.

At ChaseDevonshire, we abide to a fervent ethos underpinned by a strong work ethic and integrity towards our clients. By forging our partnership, an intermediary for landlord and tenant is then created It is widely accepted among landlords’ sales and letting agents that property management is the most complex and difficult area of the residential property industry.

Unlike typical high street agents, we derive our primary income from property and asset management,  assuring you of a far superior service.

Our dedicated team of property consultants utilize bespoke property management software facilitating rent demands & receipts, maintenance issues, property visits, landlord accounting including provisions for income tax, service charges and all other bill disbursements, landlord & tenant liaison, security deposits and determination.

We pride ourselves on our knowledge and expertise gained over several years in the fields of residential sales & lettings, property management, investments and relocations. In line with our continual development programme, we are interested in learning of any property management opportunities that are available for acquisition.

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