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On 2 March 2017, we will host a seminar featuring expert speakers from Martin & Co, Hedges Law, Critchleys Chartered Accountants and...

Friday 24 April 2015

Landlord and agents may be hit by new heating regulations

Oh what great news for us all. More suggestive legislation! Here is the word with more to follow.....


The Residential Landlords Association says some agents and landlords may be required to notify the National Measurement and Regulation Office regarding their property heating systems by the end of this calendar year.
Typically, anything regarded as a communal heating system will typically trigger a need for landlords to provide details to the NMRO, it says.

The RLA hoped these notification responsibilities would only impact institutional landlords, such as university halls and nursing homes. However, it appears they may affect HMO and bedsit property landlords and agents acting on their behalf, who could be required to send notification of their ‘heating network’ to the relevant authorities.

A landlord must submit notification to the NMRO regarding details about the heating system of the property by December 31 this year and, if required, install individual meters by the start of next April. There will be ongoing duties regarding maintenance and billing.

The RLA advises that an agent or landlord is a heat supplier if all of the following apply:

- there is distribution of thermal energy in the form of steam, hot water, or chilled liquids from a central source in a building (eg a gas boiler);

- the thermal energy is used to provide heating, hot water or cooling;

- the building is occupied by more than one final customer;

- the landlord bills more than one occupier for the heat or hot water that that person has used (or a proportion thereof).

Call me if in doubt peeps.

Thursday 23 April 2015

Investment in OX3 - a beauty!

Back after the break folks with another cracking investment opportunity.

A 1 bedroom second floor apartment on with yours truly at £195,000 offering £900 per calendar month which gives you a 5.5% yield straight out. this is based on the terrible scenario where you have to purchase at asking price and I dont get the £925 per calendar month I would actually be asking for of course!

This let in 2014 within 4 days of it coming on and another 1 bedroom 2nd floor apartment I look after went within the same time frame. They are stick on lets these ones and show positive capital value from purchase history. This one shows a £50k rise from 2008 based on asking price and as I keep saying folks, I dont know any savings account that offers that sort of return!

Call me for more.

Best regards


Wednesday 8 April 2015

Oxford heading the list outside the capital

Rising demand from international buyers and others from London relocating to Oxford has contributed to price growth in the city’s prime property market, new research shows.
 
Oxford is a key city outside of London and attracts people because of its internationally renowned university and research shows that last year it outperformed both the wider prime property market in the UK and in the South East.

Prices increased by 1.8% between October and December 2014, taking the annual rise in values in the city to 6.1%. Demand for homes valued between £1 million and £2 million was especially strong.

A key driver of Oxford’s property market performance has been demand for homes from buyers from outside of the city. Indeed, the proportion of property buyers from outside Oxford more than doubled in 2014 compared to the previous year, accounting for 52% of all Knight Frank sales in the city last year, compared to just 24% in 2013.

Demand from Londoners relocating to Oxford rose significantly year on year, from 3% to 18%, with many such buyers looking to take advantage of the relative price difference that currently exists between house prices in the capital and in Oxford. The proportion of international buyers in the city also rose to 17% in 2014, up from 11% the previous year.

Access to top performing schools, strong local employment, as well as improving transport links into London, including a new rail line between Oxford and London Marylebone which is due to open this summer , have helped boost high levels of demand in Oxford, according to the report.

The number of potential new buyers registering their interest in purchasing a new home was 18% higher last year than 2013 and the number of property viewings in the city was 8% higher over the same time.

For more on this a how the lettings market compares please call me.

Best regards

Tuesday 7 April 2015

Property Investment Weekly - another cracker in central Oxford

LION BREWERY, OXFORD

I hope you all had a smashing Easter.

This 2 bedroom, 2 bathroom apartment in the Lion Brewery is on with us and available at £475,000

Investor heaven

It is currently rented through us at £1575 and I anticipate £1600 - £1650 per calendar month in this current market which gives it a 4.2% yield but its the location and capital appreciation that really give this its appeal.

It is right in the heart of the city centre and in one of the most sought after developments in Oxford. This property was purchased on 16th Feb 2006 for £282,000. If it is to sell for its asking price this represents a 41% increase to present date and I dont know any interest savings account that can do that for you!

Call me to find out more.

Best regards