Want to know what’s hitting the headlines of UK property information? Just learn on. You’ll discover a actual blended bag of subjects spanning the pursuits of each householders, renters, and even the tradesmen who take care of our properties.
Bungalow gross sales soar as older {couples} downsize
Bungalows are all the craze amongst immediately’s patrons who’re scrabbling for properties with greater gardens and alternatives to increase as older homeowners who’ve determined to downsize.
The burgeoning marketplace for bungalows is highlighted in a narrative revealed by the Mail Online on the 18th of April citing figures from on-line listings web site Zoopla which recommend that demand for this model of residence has shot up by 60% thus far in 2022.
While bungalows have conventionally been round 5% cheaper than normal homes, the upsurge in demand is fuelling a rise in costs. The newspaper story talked about a number of current patrons who’ve successfully paid a premium in an effort to safe the acquisition of a bungalow instead of the home by which they beforehand lived.
Huge leap in demand for rental properties
In a narrative on the final week, Landlord Today revealed an enormous leap in demand for rental property. This continues the document exercise within the rental market achieved on the finish of 2021 when demand reached its highest since 2011.
Figures for the primary three months of this 12 months recommend that demand for rental property has grown steadily all through the course of successive Covid lockdowns and past.
In a current survey, 62% of landlords mentioned they discovered elevated demand through the first quarter of this 12 months – virtually double the proportion who reported such a requirement this time final 12 months and 4 instances the extent reported firstly of 2020, when solely 16% of landlords believed demand was rising.
Among these landlords reporting a rise in demand, 34% described it as “significant” whereas 28% described the rise as “slight”. Reports of both important or slight falls in demand have been reported by simply 3% of landlords – the bottom recorded.
Study reveals 63% of tradespeople are going greener in 2022
It appears that many tradesmen are going greener in response to a surge in demand amongst their clients for so-called “eco-improvements” to their properties, mentioned Property Investor Today on the 20th of April.
As tradesmen reply to the uptick in demand for constructing works such because the set up of warmth pumps and electrical car (EV) charging factors – to not point out the continuing demand for roof insulation – so they’re making some extent of studying the required new abilities and turning into greener in their very own enterprise strategies and practices.
Eight out of ten tradesmen forecast even larger demand for eco-friendly residence enhancements within the 12 months forward whereas greater than 4 in ten householders additionally mentioned they’d give choice to environmentally pleasant tradesmen when appointing a contractor.
A 3rd of property professionals say they’re not AML compliant
A 3rd of pros at work within the booming property sector confess that they aren’t anti-money laundering (AML) compliant, in line with an article in Estate Agent Today on the 21st of April.
Citing a current survey of property professionals, the article revealed that multiple in three of them doubted whether or not their present working practices enabled them to adjust to HM Customs & Revenue (HMRC) guidelines on anti-money laundering.
Few of the property professionals professed to giving AML compliance a really excessive precedence of their work – with 23% as a substitute explaining that assembly their very own private enterprise targets was extra essential, an extra 14% saying that seizing alternatives to earn extra was a extra essential aim, and 26% of these surveyed saying that each these goals took precedence over AML compliance.
London property: The one factor that may add £50k to the worth of your private home and £350 a month to your hire
If you personal property in London, there’s one stunning function that might add as a lot as £50,000 to the market worth of your private home or an additional £350 to £400 a month to the hire you acquire on a purchase to let property.
That money-making function has nothing to do with the property itself, insists a narrative in My London on the 20th of April, however the easy attraction of a devoted cycle lane on the highway exterior the house.
Surveys performed all through London’s 32 boroughs confirmed {that a} beneficial premium is added to an owner-occupied or rented residence just by advantage of it being alongside one of many six principal “cycle superhighways” that crisscross the capital.