Property News

Investor confidence in UK and overseas property investment grows

Investor confidence in the UK and overseas property market has risen significantly according to research conducted by theProperty Investor Show with investors saying it has increased by 43.3    per cent in the last three months with 32 per cent of respondents attributing this change in attitude to positive media reports and 20.7 per cent to the greater availability of different finance options.

While bank finance remains an issue, 17.7 per cent of investors are still able to secure bank loans to fund investment, having enough liquid assets to cover the current LTV radio, 32.4 per cent have access to savings and 32.5 per cent are able to use the equity from existing assets.

Nick Clark, managing director of the Property Investor Show, says: “The boost in confidence and renewed hunger in UK and overseas property has been signalled by reports that UK property prices have stabilised and the first signs of permanent job rises being reported.

“There has also been a strong shift in the market with savvy UK investors beginning to re-explore overseas opportunities as they search for sound investments with better returns than the other poor performing investment vehicles such as bank savings and the stock market.”

The Property Investor Show and OPP Live, is the only major property investment event taking place in the UK this autumn and is the leading event for high-end and first-time investors, savvy second-home buyers and the property trade worldwide attracting over 10,000 visitors and 160 exhibitors. It will create a business forum to meet with visitors, agents, developers, fund managers, wealth managers, service providers and other property professionals.

It will help potential purchasers and property professionals make the most of this opportune time in the property cycle through its extensive range of exhibitors from all over the world; special sections dedicated to key areas of interest; and seminars, round table and panel discussions covering over 150 different topics will all ensure visitors, whether property industry professionals, seasoned investors or just getting started, will find something of value.

Property Investor Show & OPP Live will run from 22-24 October 2009 at London Excel. For more information visit: www.propertyinvestor.co.uk/london.

For exhibitor information and bookings call +44 (0) 20 8877 0610 or email enquiries@propertyinvestor.co.uk

New development decision to be taken by London’s Mayor

Plans for a major property development next to Canary Wharf, which could provide thousands of new jobs and help fund Crossrail, is to be decided by the Mayor. It follows the decision by Tower Hamlets council to refuse the developer’s planning application on 4th August 2009.

Using his new planning powers the Mayor has ‘called in’ the proposal for Columbus Tower, which includes 31,000 square metres of office space, a 192-room hotel and over 70 apartments. The Mayor believes the development is of major strategic importance for the whole of London and will now scrutinise the application and make a final decision. This is the first time that the Mayor has exercised his new powers since he was elected.

Planning applications

The Mayor said: “This is a decision I have not taken lightly. However, the Columbus Tower proposal clearly meets the test of a planning application of major significance to the whole of London. Canary Wharf and the Isle of Dogs form a key part of my economic development strategy and I have also made it clear that I consider Canary Wharf to be suitable for tall buildings. There is already a planning consent for a tall building on this site and the development itself would deliver a significant contribution to Crossrail, the most important new infrastructure project London has seen since the first Underground tunnels were dug by the Victorians. For these reasons, I believe this application requires me to scrutinise it in greater detail.”

Until April 2008, when considering planning applications submitted to him, the Mayor could either leave London’s local borough planning committees to decide whether to approve or refuse them or, if they did not conform with London Plan policies, direct the borough to refuse them. Since then, where development proposals have implications for the capital as a whole, his new powers allow him to completely take over such planning applications from local planning authorities.

‘First Lady’ of Bramshott Place Village moves into her new home

Buyers are now beginning to move into Bramshott Place Village, as the luxury apartments and cottages become ready for occupation, and the first lady to settle in is retired nursing and midwifery sister, Freddie Spink.

Freddie Spink, first resident at Bramshott Place Village, with Cliff Meyler of Urban Renaissance Villages

She has led a full and busy life, spending long periods living abroad with her late husband, as well as working as a district nurse and midwife in the Liphook area since 1975.

Freddie has two daughters, one in Australia and one in America, so she envisages spending time visiting them, and the fact that Bramshott Place Village will offer security when she is abroad obviously appeals. “It’s brilliant. You can tell them you’re going away and they’ll keep an eye on the place.” And with two bedrooms and bathrooms, the apartment has plenty of space for her daughters when they come to visit.

Bramshott Place Village is being created by Urban Renaissance Villages Ltd and Helical Bar Plc, as a new village of 147 homes designed for the discerning mature house buyer and centred around an exclusive country club. It is set in picturesque Hampshire countryside, less than a mile from the village of Liphook.

The two- and three-bedroom cottages and apartments are located in the extensive landscaped grounds, and the central Country Club will be the perfect focal point for socialising and entertaining, with facilities including a restaurant and bar, hydrotherapy pool, shop, fitness and games rooms, library, meeting hall and snooker room. It is also home to an on-site nurse and doctors’ surgery and a Village Manager service. Bramshott Place Village has been conceived specifically for the active over-55s; people wanting to downsize their domestic responsibilities without necessarily slowing down their pace of life or losing their independence. Residents will benefit from a call system in all properties linked directly to the manager’s office.

A limited number of properties are still available in Phase 1 with prices ranging from £295,000 to £315,000 for apartments and from £430,000 to £499,000 for cottages. Phase 2 cottages are now released for sale. Further information is available from the marketing suite on 01428 722800 or by visiting www.bramshottplace.co.uk.

National Association of Estate Agents responds to new Nationwide figures

National Association of Estate Agents President Gary Smith commented: “The latest statistics from Nationwide appear to confirm that the housing market has finally bottomed out and indications are that we are hopefully moving to a point where the gradual recovery in prices witnessed this year will be sustained.

“While it is true that conditions in many areas across the country remain tough, we must now concentrate on how the Government and major lenders can build on this evidence of new consumer confidence to further consolidate what will no doubt be the lynch-pin of general recovery in the UK economy.

“As families now begin to perceive that with realistic prices, historically low interest rates together with the potential for capital growth, they will upgrade and move through the system bringing their own houses onto the market and boosting supply.

“However to ensure these aspirations are realised lenders have a huge role to play in the coming months and the NAEA intends to monitor the situation very closely to ensure they play it.”

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.