Tuesday 26 February 2019

House prices grow at slowest pace in more than five years as property market in the South East continues to lose steam

UK average house prices rose by 2.5%, or £6,000, to £231,000 in December
That was the slowest annual pace of growth since July 2013, ONS said
London and North East see price falls, while Northern Ireland and Wales see strongest growth
Within England, the West Midlands saw fastest growth at 5.2 per cent

UK house price inflation saw a further slowdown in December as markets in the South and East of England continue to lose steam, official figures show.

The price of an average UK home rose by 2.5 per cent, or £6,000, to £231,000 in the year to December - the slowest annual pace of growth since July 2013, according to the Office for National Statistics. The monthly rise was 0.2 per cent.

London house prices fell for the six consecutive month, declining by 0.6 per cent as they also did in November, as the capital feels the biggest impact from Brexit uncertainty and changes to stamp duty and buy-to-let.

The North East was the only other region where prices fell in December, by 1 per cent in the year to December, marking an abrupt decline after a rise of 1.7 per cent the previous month.

The West Midlands showed the highest annual house price growth within England, with prices increasing by 5.2 per cent. This was followed by the East Midlands and Yorkshire and The Humber, both increasing by 4.2 per cent.

However, growth was strongest in Northern Ireland and Wales, where prices rose by 5.5 per cent and 5.2 per cent respectively in the year.

In contrast, prices in the East of England rose by just 0.2 per cent to an average £289,602 while in the South East they rose by 1.2 per cent to £324,729.

December's decline was not surprising, given that the official figures lag a month behind other reports such as those by mortgage lenders, which use data from several months earlier in the house-buying process.

The latest Halifax house price index revealed the annual rate of growth slowed in January, rising by 1.3 per cent, with monthly prices dropped 2.9 per cent - the fastest pace of decline in over eight years.

Similarly, Halifax's rival Nationwide found in its own index at the end of last month that house prices inched up just 0.1 per cent in the year to January 2019.

Many analysts seem to agree that Brexit was to blame for a further slowdown in house prices as buyers prefer to stay put until they know what will happen, causing the market to stall.

It comes as a recent report by the Bank of England pointed out there was evidence that housing transactions were being postponed until after Brexit, with demand and supply both falling in the last quarter of 2018.

But the report also showed that demand for new build houses remained stronger outside London, in part due to housebuilders offering more incentive to finalise sales.

Lucy Pendleton, founder director of independent estate agents James Pendleton, said last year will go down 'as one of the hardest to read markets in recent memory' as prices in London began falling while other parts of the country kept notching up solid gains.

Estate agents and economists desperately tried to read the tea leaves last year, blaming every backward step on Brexit and every bounce on lack of supply.

'In truth, the veil that has been drawn by politics across the housing market’s true condition will only be lifted once we know what the UK’s future relationship with the EU looks like.

'Ultimately, 2019 could be the year that we come to realise just how much the bellows of Help To Buy and stamp duty relief for first-time buyers can really stoke the market.'

Mike Scott, property analyst at online estate agent Yopa, commenting on today's figures: ‘We do not expect that this will lead to widespread price falls, as long as the economic fundamentals remain strong, but we do expect a further slowdown as this official measure catches up with other reports, especially in the south and east of England.’

Jeremy Leaf, north London estate agent and a former RICS residential chairman, said they had seen investors and developers taking a more optimistic view than they have done for some time.

He added: ’The market continues to be underpinned by a shortage of available property and very low interest rates. However, in order to successfully transact, realistic sellers need to make their properties compelling in terms of price, presentation, or both, in order to engage with fewer but more pragmatic purchasers.

‘If the chances of a deal with our European partners improve, we expect to see more balance between supply and demand and a firming up of prices without necessarily seeing a significant boost in them.'

https://www.dailymail.co.uk/money/mortgageshome/article-6699777/House-prices-grow-slowest-pace-five-years-south-eastern-property-market-loses-steam.html

Big investment in housing deals

Monday 25 February 2019

UK property market

UK property market remains a magnet for wealthy investors despite Brexit
- Many national and international high-net-worth individuals (HNWIs) who currently invest in the UK’s property market plan to add to their property portfolios, regardless of Brexit, fresh research shows.
  
  A survey of HNWIs, defined as earning more than £100,000 a year, conducted in the UK, Dubai, Hong Kong and South Africa, found that Brexit is not a big issue for the vast majority of buy-to-let investors, with almost a quarter - 23% - of respondents actually identifying Brexit as the catalyst for their investment.
- To help understanding the likely mid- to long-term view, Censuswide on behalf of leading UK property developer SevenCapital, asked how strong they believe the UK’s property market will be in the next 18 months, and found that more than half - 55% - believe the market will be good to very strong, with that figure rising to around two in three - 64% - in three to five years’ time.
  
  These are encouraging statistics for the UK property market, during a period of uncertainty and generally negative speculation over what Brexit will bring.
  
  Andy Foote, director at SevenCapital said: “These figures demonstrate that people generally recognise that there are bigger factors to consider over Brexit when it comes to the overall trends in the UK property market. Realistically, it’s the fear and the perception of Brexit that will have any effect, rather than the physical act of leaving the EU.
- “Ultimately, if the market were to take a dip after Brexit, seasoned investors will know that this would more likely be a catalyst for the inevitable swing back. The property market is a prime example of well-known cyclical patterns, growing through recovery and emerging stronger than previous peaks. In other words, if it takes a dip, as it did 10 years ago, it will recover and come back stronger.
  
  “It’s also important to understand two other key factors. Firstly, the chronic undersupply means there is an ever growing demand for homes in the UK – whether rented or owned – and that is not something that is going to change with Brexit.
  
  “Secondly, property isn’t a quick purchase or investment, unless you are a ‘flipper’. If you’re looking to buy a home, the chances are you’re not going to be thinking about selling up again in less than 5 to 10 years’ time, and if you’re a property investor, you’re likely to be looking for long-term gains from it. Either way and dip or no dip, the price of your property, providing you did your research properly before buying, is likely to appreciate in the long run.”
- https://www.landlordtoday.co.uk/breaking-news/2019/2/uk-property-market-remains-a-magnet-for-wealthy-investors-despite-brexit

Property sales in UK

Property sales in UK increased at beginning of this year, official data shows

Residential property sales in the UK were positive at the beginning of the year, up 0.8% between December 2018 and January 2019, official data shows.

Overall there were 101,170 residential sales, taking them 1.3% higher than January 2018, according to the figures from HMRC. They increased by 0.9% year on year.

Meanwhile, the figures also show that non-residential property transactions increased by 0.2% between December 2018 and January 2019, and were 2.4% higher than January 2018. Year on year they increased by 3%.

The HMRC report also gives some historical figures, showing that the fall in transactions starting at the end of 2007 coincided with the housing market slump and financial crisis. Prior to this, transaction counts had risen steadily, peaking in the middle of 2006.

The December 2009 peak for the seasonally adjusted estimate was associated with the end of the stamp duty ‘holiday’, during which the lower tax threshold was raised to £175,000. The peak in March 2016 is associated with the introduction of higher rates on additional properties in April 2016.

As with residential transactions, the 2007 financial crisis triggered a fall in non-residential transactions. Although, this was less pronounced than the former. Non-residential transactions had seen a generally flat seasonal cycle between September 2010 and September 2013.

But since then, there has been a generally rising trend. The seasonal non-residential pattern generally features a low point at the start of the calendar year, with a corresponding peak each March, coinciding with the end of the financial year, the report adds.

The figures suggest that despite a lot of talk about a Brexit effect, the housing market is actually quite stable, according to Mike Scott, chief property analyst at online estate agent Yopa.

‘We expect it to set the tone for the year as a whole, with around 1.2 million home sales in the whole of 2019, as there have been in every year since 2013. This level of activity is consistent with a steady market, neither booming nor crashing, so house prices should continue to rise slowly during the year, roughly in line with wage increases,’ he said.

However, Kevin Roberts, director of the Legal & General Mortgage Club, believes that political uncertainty and financial barriers such as stamp duty are still influencing some home owners to improve not move.

‘We need to see more initiatives for those higher up the property ladder. One creative solution would be to extend the stamp duty exemption to last time buyers. This would free up larger properties for growing families and allow younger home buyers to move onto or up the property ladder,’ he said.

https://www.propertywire.com/news/uk/property-sales-in-uk-increased-at-beginning-of-this-year-official-data-shows/

Friday 22 February 2019

US investor

Future buyers

Future buyers born in 2019 face paying over £1.2 million for their first home

People born today are set to have to pay £1.2 million for their first home in the UK at the age of 34, and £4.5 million if they live in London, new research has found.

The study from letting and sales agents, Benham and Reeves, looked at historic first time buyer property price data from the Land Registry and how this had changed month to month across each UK region and London borough.

Researchers then projected these monthly price changes forward 34 years to see what the average first time buyer house price could pay at the age of 34, the average age for getting on the housing ladder.

The data shows the average first time house price would also top the £1million mark in the

East of England and the South East of England, where the average house prices are currently £241,259 and £259,567 but could reach £1.9 million by 2052.

The cheapest area to buy for first time buyers born today is likely to be the North East of England with a predicted price of £210,739, up from £110,645 today.

The projection suggests that the most expensive place in London for first time buyers could be Waltham Forest with an average house price of £11.5 million by 2052, followed by Kensington at just under £8.4 million, with Hackney at £6.8 million, Westminster at £6.8 million and Haringey at £6.6 million.

Hounslow has seen the slowest rate of growth in first time buyer house prices historically and ranks as the most affordable for a future buyer born today, but even then it would still cost £2.8 million to get on the housing ladder in 34 years’ time.

‘This research considers the ups and downs of the first time buyer market historically and how things could play out for the generation of first time buyers being born today if these trends were to repeat themselves,’ said Benham and Reeves director, Marc von Grundherr.

‘Of course, it’s impossible to predict the future of the UK property market, particularly given the current turbulence caused by wider economic and political factors, however, this research acts as a warning of what could happen if we continue to fail in the delivery of affordable starter homes,’ he explained.

‘Not only does it show the huge jump in prices over previous years but how this could worsen further down the line. While we hope that prices won’t reach these heights, we’ve certainly seen stranger things happen across the UK property market in the last 34 years, so who knows what the next 34 may bring,’ he concluded.

https://www.propertywire.com/news/uk/future-buyers-born-in-2019-face-paying-over-1-2-million-for-their-first-home/

Monday 18 February 2019

Housing affordability in Britain improving at fastest rate since 2011

The average asking price for property in Britain increased by 0.7% this month and is consistent with the growth recorded in February last year and the one before, the latest index shows.

But year on year asking prices increased by just 0.2% or £714, according to the data from Rightmove. The property portal’s report points out that this means that housing affordability is improving at its fastest rate or eight years with annual wage growth at 3.4% outstripping price growth.

But the picture is different according to location with asking prices in the North of England, for example, higher and those in the South falling year on year.

Asking price growth is led by growth of 3.6% year on year on Yorkshire and the Humber to an average of £187,813, followed by a rise of 3.4% in the North East to £ 151,303, and increase of 3.2% in the West Midlands to £222,647.

In contrast, asking prices were down year on year by 2.1% in Greater London to £614,182, followed by a fall of 1.4% in the South East to £395,240 and a fall of 0.2% in the East of England to £347,045.

In Wales asking prices increased by 2.9% on an annual basis to £192,246 and in Scotland they were up 1.6% year on year to an average of £148,576.

Rightmove also points out that there are some signs of buyer hesitancy in the property market with the number of sales agreed in January down 4% year on year. According to Miles Shipside, Rightmove director and housing market analyst, in theory the scene would be set for an active spring if it were not for the uncertain political backdrop.

As it is, the extent of that activity will depend on the degree of hesitancy among sellers to try to sell and be realistic on price, and buyers overcoming short term uncertainty and taking a medium term view that this is a good time to buy. As always those decisions will also be influenced by local market dynamics,’ he explained.

He believes that buyers will be encouraged to act by having more supply in all Northern regions apart from Wales, whilst all Southern regions are seeing hesitancy to come to market with fewer new sellers than at this time a year ago.

‘Prospective buyers in three of the four southern regions are seeing new seller asking prices cheaper than a year ago,

indicating that buyers have the upper hand over sellers when it comes to negotiating a price,’ Shipside said.

‘This has obviously been a factor for some owners in those regions deciding not to come to market. Market conditions are more favourable for sellers further north though agents say that it’s still a very price sensitive market where asking too much at the outset scares off buyers,’ he added.

According to Nick Leeming, chairman at Jackson-Stops, both buyers and sellers are coming to the conclusion that now is as good a time as any to make a move while interest rates remain relatively low.

‘Prominent lenders such as HSBC are cutting their mortgage rates, including their 10 year fixed rate loan products, which is particularly welcome news for first time buyers and those looking to remortgage their properties over the next few months,’ he pointed out.

‘Although a decade long fixed rate mortgage may seem like a big commitment, particularly to those new to the market, locking themselves in could provide the assurance they need while the UK navigates through Brexit, and the wider uncertain political and economic landscape,’ he said.

‘Given that we currently have no clearer idea of our position outside of the European Union with so few weeks to go until Brexit day on the 29 March, it’s not surprising that some parts of the market remain hesitant,’ he explained.

‘However, for those looking to make a move the best advice we can give buyers is to do their research. There is a limited supply of stock coming to the market currently, so if a property ticks all of the boxes in terms of price, location, access to key amenities and good transport links, we would advise them to really consider purchasing the home,’ he added.

https://www.propertywire.com/news/uk/housing-affordability-in-britain-improving-at-fastest-rate-since-2011/

How sky-high rents forced people into imaginative alternatives

Michael Hayne in the van he has converted into a home.

Tenants and others who found unusual ways to keep a roof over their head in an era of record costs

Renting a property in the UK can be a bleak business. The average monthly rent rose to £932 last month and in London it is even more expensive at £1,588, according to new figures. It is of little surprise then that more young people are choosing to stay in the family home. Recent research showed nearly a million more young adults live with their parents than was the case two decades ago. The proportion of people aged 20 to 34 who live with their parents has risen from 19% in 1997 to 25% in 2017 – some 3.4 million people, according to the thinktank Civitas.

Hitting the road

When Michael Hayne, 41, a delivery driver from Mansfield, split up with his wife after 10 years of marriage with two daughters, he sofa-surfed at various family members’ homes for about six months because he couldn’t afford to rent.

“I worked out it was about £1,100 to get a house to rent plus bills,” he says. “I needed somewhere for the kids to stay and didn’t want a bedsit. I realised I wouldn’t have much money left after paying child maintenance and childcare costs.”

He was inspired by reading about a couple who sold up and toured the world in a van. “I took out a loan and bought a Mercedes Sprinter van for £2,500 and spent weeks stripping it out and turning it into a home.” His van includes beds for when his daughters stay, a four-burner cooker and storage at the back for his bike.

“I wanted a van because it’s cheaper than a camper van, which can cost upwards of £10,000, plus I like the style of a van. It’s a blank canvas that I can build myself. For example, I made a sleeping area for my girls, and I can change it around.”

The cost of running the van, including vehicle tax and breakdown insurance but not petrol, sets him back about £70 a month.

Hayne has lived in the van for a year and parks for free in country lanes and near industrial estates. He showers at a local gym. “The girls love it. They’ve been to Scotland, Whitby, Scarborough and the Norfolk coast. Not paying rent frees up the funds to do those things.”

Sitting it out

While some people house-sit for free to get a taste of luxury or a different life for a few weeks, designer Jennifer Hamley, 39, and her husband, Ben, 37, have turned it into a way to live rent-free.

“We decided to try house-sitting after we came back from a year living in Bali,” says Hamley. “Rental prices had escalated and a friend suggested it. We run a business together from our laptops, and are used to being a little nomadic, so the idea suited us well.”

The couple tend to stay in a property for at least three weeks, depending on what’s available. “Since we do this full time we tend to only apply for house-sits of three weeks or more. Running a business and moving around too much is way too stressful.”

The couple house-sit through TrustedHousesitters.com, which connects home and pet owners with house-sitters and costs each party £89 for an annual membership. They house-sit mainly in Brighton, taking care of pets, the home, post and watering plants.

“It is a peace of mind for many homeowners. A homeowner doesn’t need to get anyone to check in on the house, and pet owners don’t have to pay kennels, catteries or dog walkers.”

Sometimes there’s a signed agreement but mostly the exchange is done on trust. The duo try to line up consecutive house-sits but sometimes there are a few days’ gap, when they stay in a hotel, B&B, Airbnb, or with friends.

Guarding the home

If Carl Francis, 27, was renting his one-bedroom flat in Barnet, north London, at market rates, he simply wouldn’t be able to afford it. But as a property guardian – a person who temporarily looks after an empty property that’s between uses in return for cheap rent – his rent comes to just £425 a month.

“I didn’t want a cramped studio flat for £600,” he says. He found Dot Dot Dot, which provides affordable housing in buildings that range from flats and houses to churches and even disused fire stations. In return it asks guardians to volunteer for 16 hours a month with a charity of their choice.

“I’m saving a hell of a lot more than if I was living on my own,” he says. The drawback is the property is set to be demolished. “Then I’ll be given 28 days’ notice. But I’ve been here for a year and it’s a really good way to live.”

Co-operative living

Patrick Smith, 62, the director of a vegan catering co-operative, lives with nine other people in a housing co-op in Nottingham, where he pays a fraction of the typical rent. Housing co-ops tend to be democratic organisations controlled by members, who set their own policies and decisions. In Smith’s co-op, the housemates have two meetings a month, discussing topics such as household issues, cleaning and checking in with others’ wellbeing.

The household divvies up chores, with each member spending 30 minutes a week cleaning a designated area. The tenants are the landlords and they set their own rent and take responsibility for the needs of the household.

Smith pays about £50 a week in rent, plus £40 a month in bills and he chips in £14 a week for food for communal meals. “The money wasn’t a driving force but it does have its advantages. You’d be lucky to get a room for £50 in Nottingham. We also have a sliding scale [in rent] to help the less well off.”

Each person has their own bedroom but shares communal areas such as lounge, bathrooms and kitchen, where every night a member cooks a group meal.

“Rather than it just being about finances, everyone wants to engage in a sustainable cooperatively managed household.”

https://www.theguardian.com/money/2019/feb/17/high-rents-alternative-living-arrangements

Friday 15 February 2019

The best cities to rent out property on a room by room basis unveiled

A number of buy-to-let landlords prefer to rent out property on a room by room basis instead of renting the whole property to one person or a family.

Some landlords prefer this option as it sometimes offers an opportunity to bank higher incomes per month, while tenants get to reduce their monthly rent by sharing it with others.

But what cities in the UK are ultimately best to rent out property on a room by room basis?

New research by Glide has revealed the top ten share hotspots based on house share opportunities, the cost of rent, job opportunities, amenities and affordability.

The study, which looked to identify the best house share hotspots across the country for students and young professionals, found that Bristol is the number one city in the UK for house sharers, based on the criteria.

Bristol was ranked the best location, with 229 advertised jobs per 10,000 people and 945 house shares available

Nottingham’s consistency across the rankings meant the city came in second - with its job opportunities, broadband speeds and university rankings all scoring in the top ten, it was only let down by relatively high rental costs.

Birmingham made up the top three locations, with its comparably low rents helping it to score well, but was let down by having only 145 job opportunities per 10,000 people currently advertised.

The top ten house share hotspots are:

1. Bristol

2. Nottingham

3. Birmingham

4. Manchester

5. Liverpool

6. Derby

7. Southampton

8. Brighton and Hove

9. Leicester

10. Portsmouth

https://www.landlordtoday.co.uk/breaking-news/2019/2/the-best-cities-to-rent-out-property-on-a-room-by-room-basis

Craggy island for sale

Craggy island for sale: gulls, grass, wind and no mod cons

Uninhabited High Island off the west coast of Ireland can be yours for £1.1m

A craggy island off the west coast of Ireland which was home to iron age settlers, medieval monks and a poet in search of inspiration has gone on sale for €1.25m (£1.1m).

High Island, an 80-acre swath of rock, heather and wind probably too remote even for Father Ted, sits in the Atlantic two miles off the coast of Galway.

After 3,000 years of on-off human settlement it is now uninhabited and awaiting a buyer who has their own transport, preferably a robust dinghy or helicopter.

“It’s lovely, a beautiful place,” said Luke Spencer, of Spencer Auctioneers, which has listed High Island on the property site My Home.ie. “A lot of birds and grasses and ferns. You’ve got Atlantic views all the way around.”

Since going on the market last Friday it has received more than 7,000 views, said the auctioneer. “That’s massive.”

Spencer thinks the likeliest buyer will be the Irish state or a wealthy individual, perhaps a Russian oligarch or technology tycoon. “Someone from Google, or [Mark] Zuckerberg.”

Star Wars fans should note that High Island – Ardoileán in Irish – is a good 200 miles north of the Skellig Islands, rocky outcrops off County Kerry which served as Luke Skywalker’s sanctuary.

The island, about the size of 60 football fields, rises to 206 feet above sea level at its centre and slopes down to cliffs and deep inlets.

It includes two freshwater lakes and a host of birds: gulls, fulmars, Arctic terns, Manx shearwaters, barnacle geese, petrels, oystercatchers and peregrine falcons, making the island an EU special protection area.

Pollen evidence suggests there was human settlement about 3,000 years ago. Archaeologists believe monks converted a secular settlement into a monastery in the seventh century. It was reputedly founded by Saint Féchín, who founded other monasteries across Ireland until succumbing to yellow fever in 665.

The monastery’s ruins, which include a church, altar, beehive huts and graves, are owned by the Irish state and excluded from the sale.

A prominent Galway family, the Martins, owned the island in the 18th century and leased it to copper miners, who built stone huts and left a mineshaft.

Richard Murphy, a poet who lived on the nearby island of Inishbofin, owned it from 1969 to 1998.

“I got excited at the thought of buying this inaccessible holy island, restoring the beehive cells and oratory of its derelict hermitage and preserving the place from destruction,” he wrote in his memoir, The Kick.

Visits to the island influenced some of his poems. According to Tim Robinson, author of a trilogy about Galway’s Connemara region, weather deterred Murphy from long visits. “After one spell of five days during which he saw the sun for 20 minutes he gave up spending more than a few hours there at a time.”

Murphy sold High Island to a friend, Féichin Mulkerrin, who is now selling it.

Spencer said the place was not all howling wind and darkness. “When we visited we had a stunning day out there. I’m in Connemara at the moment and it’s blue skies.”

The existence of a small modern building and septic tank should help a new owner obtain planning permission for a new dwelling or rehabilitation, said the auctioneer.

The online ad hinted at a fixer-upper: “Please note we have not tested any apparatus, fixtures, fittings or services. Interested parties must undertake their own investigation into the working order of these items.”

https://www.theguardian.com/world/2019/feb/14/craggy-island-for-sale-gulls-grass-wind-and-no-mod-cons

Tuesday 12 February 2019

Buying into a franchise may not be as hard as you think

There are many misconceptions about the franchising world but, whether we’re talking about estate agency franchises or fast food franchises, it’s a given that someone who wants to buy into a franchised company will need a certain amount of capital to get their business up and running.

While it’s true that it’s not cheap to buy into a franchise, many people are under the impression that it is not an option for them because it’s too difficult to get the money together.

On the face of it franchising can seem expensive. There are numerous initial costs to think about, particularly if you’re opening a cold start.

These costs will include the license fee, refurbishment costs, initial marketing costs and recruitment costs, but you must also ensure that you have a certain level of working capital to keep you going until your business starts to turn a profit.

With conveyancing reportedly taking an average of four months, it may be a while before your first fees start to roll in. It’s also advisable to have some fall-back capital, as with any sort of investment, in case anything unexpected arises.

It’s unfortunate that many people consider these costs and are immediately turned off the idea of joining a franchise, without even a conversation or simple enquiry into whether it could work for them.

I fear that there are so many talented individuals out there in the industry who are not reaching their full potential, and stuck in roles and companies where their progression is limited because they don’t think it is an option for them due to finance.

As a new franchising manager at Winkworth, I know all too well the obstacles that people have to climb to get onto the ‘business ownership ladder’, but finding finance needn’t be one of them. It is not as hard to secure as you might think.

With franchising becoming an increasingly favourable choice for business ownership, there are a number of finance options out there which are available for potential franchisees, including financing companies who support franchises and banks (such as HSBC and Natwest) offering specialist franchising loans.

They take into account a company’s brand strength, office numbers, financial position, the financial reward of being a franchisee and share price (if applicable), so if you’re able to secure a franchising loan in this way, the likelihood is that you’re buying into a company that the bank or financing company has confidence in.

At Winkworth, we have a close relationship with HSBC and Natwest, who recognise our group’s financial success, growing network of offices and back-office support services, and as a result is able to provide funding for up to 70% of the business opportunity for potential franchisees.

This means that where we would advise having a starting capital of up to £200,000 (or £250,000 in London), HSBC or Natwest could fund up to £140,000 (or £175,000 in London) of the business opportunity.

These figures obviously vary between different areas of the country and different franchises, but it can’t be denied that this type of funding could make a huge difference to somebody making the decision on whether or not to start up their own business as part of a franchise.

As the point of these loans is to aid franchise growth, they are also available to current franchise owners wishing to expand into new areas and grow their already existing businesses.

These banks and finance companies are specialists in franchising. This means they also offer brilliant guidance, not just on borrowing money but the entire franchising process.

They are, therefore, a great place to receive objective advice on franchising and they can give a really good idea of what steps you’ll need to take to get started, so it’s well worth getting in contact with them even if it is just a potential idea for you.

From there, the process is very straight-forward and not at all as daunting as you might think.

Plus, for any existing businesses considering franchising, there are also many franchisors who will offer financial rewards for rebranding, making it a really worthwhile option for smaller estate agencies wanting to tap into the backing and support of a nationwide franchised brand.

I often wonder if people in the industry were better educated on the full process of becoming a franchisee - and exactly what they would need to have and need to do – whether many would find the idea as unattainable as they had previously thought.

I do believe that there are many talented professionals in the industry whose careers could benefit hugely from buying into an estate agency franchise – whether your goal is to own your own local agency, or to expand your network with several offices.

Whichever franchise you consider, I highly recommend making that first enquiry, asking some questions and looking into whether it could work for you. You never know what success is around the corner.

https://www.estateagenttoday.co.uk/features/2019/2/buying-into-a-franchise-may-not-be-as-hard-as-you-think

Chiswick apartment listed for sale

On point: Chiswick apartment listed for sale has unique, V-shaped rooms and balcony

Just 10 minutes from Chiswick train station, this boutique two-bedroom flat is set in a unique V-shaped building.

This two-bedroom flat at The V, a striking new boutique development in Chiswick, gets straight to the point when it comes to high-end finishes.

Hardwood engineered timber floors are heated in the V-shaped reception/dining and kitchen spaces, with brushed copper-style cabinetry and sleek appliances, lit by a wall of glass doors to a decked V-shaped balcony.

Plush carpeting gives a cosy feel in both bedrooms, while the master also has fitted wardrobes and doors to a further terrace. Chiswick train station is a 10-minute walk away.

https://www.homesandproperty.co.uk/property-news/buying/chiswick-apartment-listed-for-sale-has-unique-vshaped-rooms-and-balcony-a127701.html

Monday 11 February 2019

Find your dream holiday home while you travel

Try before you buy: find your dream holiday home while you travel the world from Cape Cod to Cornwall.

Boston and Cape Cod

New England’s elegant and highly cultured city, Boston is just six hours from London and its airport is only three miles from Downtown so, helped by the hour’s time difference, it’s perfectly possible to breakfast in London and enjoy lunch in Boston.

The city has a reputation for charm and brains. Its many top-flight universities and colleges include Harvard, and its great history encompasses its role as the birthplace of the American Revolution.

£784,000: a stone-and-shingle Victorian four-bedroom detached house with a garden in the city centre close to Boston Common

Boston is a green and leafy city, easy to walk around and with exceptional architecture including more homes dating from the Victorian era than anywhere outside London.

Boston is also the gateway to New England where autumn brings hordes of “leaf-peepers” to see the trees’ magnificent kaleidoscope of colours, from Maine to Massachusetts and up into Vermont.

Where to buy in Boston

In the city centre close to Boston Common, the oldest public park in the US, a stone-and-shingle Victorian four-bedroom detached house with a garden is £784,000. Near Boston Harbour and waterfront in popular Eastside, a 2,110sq ft three-bedroom Victorian house is £803,000, both through Sotheby’s International Realty.

Where to buy in Cape Cod

Cape Cod extends into the Atlantic Sea southwest of Boston and has been a low-key but upmarket place to holiday ever since President Kennedy’s family bought their homes there in the Fifties.

It’s romantic and natural, filled with distinctive pastel-painted clapboard houses leading down to undeveloped beaches. Play a round of golf, cycle along the waterfront, tour art galleries, climb lighthouses and eat freshly landed seafood — simple pleasures in pretty, family-focused towns and villages.

Falmouth, directly across the water from the island of Martha’s Vineyard on the southern side of Cape Cod, is 80 miles southwest of Boston. Its 68 miles of coastline includes 10 public sandy beaches and 14 harbours.

And while much of Cape Cod is seasonal, Falmouth is the second-largest municipality on Cape Cod with a truly year-round community.

Beautiful old houses, once home to sea captains, encircle the village green. Yet for all its history, it is a young, vibrant town with an active, outdoor lifestyle.

Live waterfront at 181 Surf Drive, a three-bedroom detached house built in 2000 in traditional New England clapboard with beautiful views directly over Vineyard Sound. The 1,905sq ft house sits in a quarter-acre plot steps from the sandy beach and is priced £1.1 million. Through Sotheby’s.

European food tours

Europe’s wonderful culinary variety is a major part of its appeal and there are plenty of opportunities for travellers to get involved in local food and wine production.

At Costa Navarino on the Greek Peloponnese, guests can help to make olive oil, following the journey from field to table. Belmond Castello di Casole in Tuscany allows guests to join in the truffle hunt alongside the talented sniffer dogs.

Or in Bordeaux check into L’École du Vin in the city centre for a crash course on wine tasting and production, taking anything from two hours to two weeks, before touring the famous vineyards of St Emilion.

Where to stay: Château Lafaurie-Peyraguey, France

Château Lafaurie-Peyraguey in the small village of Bommes 50 minutes from Bordeaux airport is the first “first-growth” vineyard in the Bordeaux region to open as a hotel and restaurant.

Housed in an elegant 17th-century château, the hotel’s main feature is the 90 precious acres of vines that produce exceptional, sweet Sauternes wines.

The 13-room hotel opened last summer after a £9 million refurbishment, with 3,000 pieces of bespoke Lalique crystal and a modern glass-and-steel conservatory dining room overlooking the vines overseen by a two Michelin-star chef. Rooms start from £260 including breakfast.

Estate visits are offered daily from 10am to 6pm from £18 per person. The restaurant is open Thursday to Monday.

Where to buy: Costa Navarino, Greece

Sixty-five per cent of Greece’s total olive production comes from the Peloponnese, including the highly prized Kalamata olives.

Forty minutes from Kalamata airport — with direct BA flights — in the eastern Peloponnese, Costa Navarino is a five-star resort with two hotels, 21 restaurants, beach clubs, numerous pools, two golf courses and some of the best sports and children’s resort facilities in Europe.

Costa Navarino has sold freehold villas for the past two years and new for this year are two-suite apartments of 1,290sq ft, some with a private infinity pool and some directly beside the mile-long sandy beach.

Owners can use their apartment for eight weeks each year, otherwise putting it into the fully managed rental programme with guaranteed four per cent rental returns for the first five years. Prices start from £534,000.

Cornwall

Last summer’s sun-filled days have British tourism hoping for a positive 2019 boost as more of us choose to holiday at home — a staycation trend that was already on the rise. Cornwall, our favourite summer holiday destination, has been working hard to offer sophisticated families more choice, catering for surfers, young families and sport-mad visitors at a variety of price points.

Celebrity chefs including Nathan Outlaw, Rick Stein and Jamie Oliver have inspired local foodies to raise their game. Try Pavilion Bakery in Newquay, the latest outpost of the family-run London bakery and restaurant, or sample the wood-fired menu at local favourite Scott and Babs in Retorrick Mill, St Mawgan.

Where to stay: Watergate Bay Hotel

Families have holidayed at Watergate Bay Hotel along a two-mile sandy stretch of North Cornwall since the Sixties. Even when the Cornish weather does its worst, guests have plenty to do at this family-run resort: swim in the indoor pool, relax in the spa, use the first-class Kids Club or zip into wetsuits and brave the surf.

New this summer is Watchful Mary, a lively waterfront bar set on the sea wall that replaces the original RNLI hut. The lifeguard will be based on the first floor with the bar and terrace above, serving cocktails, craft beers and small plates to enjoy as the sun sets.

Rooms from £185 bed and breakfast.

Don’t miss Europe’s cultural highlights for 2019

This year marks the 500th anniversary of Leonardo da Vinci’s death and both Italy and France, where he died, have commemorative events.

Villa rental company Tuscany Now & More has introduced a cultural tour of Florence and Tuscany celebrating the maestro’s life and works for guests staying in its villas. Prices for the three-day tour are £465 per person including transport.

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