D_Property, Author at - Page 39 of 97

According to recent research, Manchester is one of the top 10 places in the UK for rental growth with average yields of almost 9%.

The M6 postcode, covering Pendleton, Claremont, Langworthy and Salford, offers the top average rental yields in Manchester (8.84%) and has an average monthly rent of £1,034. Close to the centre of Manchester and the University of Salford, this postcode is popular with students and young professionals.

South of the city centre, the M14 postcode, covering Fallowfield, Rusholme and Moss Side, is seeing average rental yields of over 8%. Again this postcode is popular with students, as it is close to the main University of Manchester campus.

The M5 postcode, which is close to the M6, offers average rental yields of 8%. This area includes the Ordsall estate, which has been given a £100 million transformation to create a complex of modern townhouses and apartments. The M38 postcode, in the north west of the city, covering Little Hulton, is giving landlords average rental yields of almost 7%.

Peter Armistead, Director of Armistead Property comments: “Manchester has undergone a revival following significant investment, which has funded major regeneration and brought new jobs to the powerhouse of the North. Manchester has seen £800 million invested in the

Airport City, £235 million for the Sir Henry Royce Institute for Advanced Materials and The Factory, with £110 million dedicated to the arts. Employment in the city is forecast to get an additional boost, with expected growth of 3.8% between 2015 and 2020.

It’s no surprise that both UK and international investors are queuing up to purchase BTL property. Manchester beats London hands down on affordable property prices. Over the last three years, 45% of residential sales across the city were completed for less than £125,000. Manchester also offers much better rental yields, with between 8-9% in some postcodes, compared with an average of 4-6% in London.

There has been a surge in demand for rental accommodation with increasing numbers of students and young professionals working, or studying in the City. Manchester’s population is growing and is expected to surpass three million by 2035.

The housing market in being bolstered by a major regeneraton north east of Victoria station, where 8,000 new homes are being built over the next 10-15 years. There’s also a £1bn plan for another 8,000 homes, including the conversion of the Murrays’ Mills and a further 3,000 homes on the former ITV Granada studios at St John’s Quarter.”

Source: www.propertyreporter.co.uk

June 5, 2017

Added by D_Property at June 5, 2017

Manchester remains a top BTL hotspot

According to recent research, Manchester is one of the top 10 places in the UK for rental growth with average yields of almost 9%. The M6 postcode, covering Pendleton, Claremont, Langworthy and Salford, offers the top average rental yields in Manchester (8.84%) and has an average monthly rent of £1,034. Close to the centre of Manchester and the University of Salford, this postcode is popular with students and young professionals. South of the city centre, the M14 postcode, covering Fallowfield, Rusholme and Moss Side, is seeing average rental yields of over 8%. Again this postcode is popular with students, as it is close to the main University of Manchester campus. The M5 postcode, which is close…

June 1, 2017

Added by D_Property at June 1, 2017

UK city house price growth slows to 5.3%

According to the latest data and analysis from Hometrack, UK city house price growth is running at 5.3%, down from 8.7% in April 2016. Eleven cities have a faster rate of growth than 12 months ago. Manchester is the fastest growing city while price inflation in London is at its lowest level for 5 years. Lower growth over the last 12 months is largely a result of prices increasing by just 0.1% over 2016H2. In the three months to April 2017, average prices have increased by 3.2% with above average growth recorded in large cities such as Manchester (4%), Birmingham (3.8%) and Edinburgh (3.7%). Divergence in growth rates over last year Eleven of the twenty cities…

May 31, 2017

Added by D_Property at May 31, 2017

British buy to let landlords face 13% rise on average in tax profit

Buy to let landlords in the UK could see an average 13% increase in their taxable profit due to the reduction in mortgage relief and other change which will have a substantial effect on their profits, it is claimed. The mortgage tax relief changes introduced in April, which are being phased in over the next few years, mean that interest relief on buy to let mortgages is being gradually reduced. By 2020 some 100% of buy to let finance costs will be restricted to the basic tax rate of only 20%. According to the research from online letting agent Upad the difference between tax due to be paid in the 2017/2018 financial year and 2018/2019 will…

May 29, 2017

Added by D_Property at May 29, 2017

Landlords’ taxable profit set to ‘sharply increase’

With the Government now almost two months into rolling out Section 24 and its new buy-to-let tax relief system, online letting agent Upad believes landlords will see an average 13% increase in their taxable profit from 2017/18 to 2018/19. The changes, which started being phased in on 6th April 2017, mean that landlords must now pay tax on turnover, rather than the difference between rental income and mortgage interest. Until April, landlords could deduct the full cost of their mortgage interest payments, or any other property finance, on their rental properties before they paid tax. Two months in, mortgage, loan and overdraft interest costs can no longer be considered in calculating taxable rental income. The changes…

May 29, 2017

Added by D_Property at May 29, 2017

New funding for would-be landlords

A new £20m funding initiative has been launched with the intention of supporting a generation of first and second-time property investors The initiative from Market Financial Solutions (MFS) is targeted at refurbishment and restoration projects in the £1.4m empty properties across Britain. Funding On-going until June 2018, the £20m funding drive will be made available to nationwide applications through bridging loans in the range from £100,000 to £1m. With Britain gearing up for another General Election on June 8th and against the looming backdrop of Brexit, MFS’s property investment drive offers landlords fast access to monies required to support their short-term investment plans. Over the next year, it is anticipated that traditional asset classes such as…

May 26, 2017

Added by D_Property at May 26, 2017

UK property prices set to rise by over 6% by 2021 fuelled by buy to let surge

Property prices across the UK will rise by 6.1% in the next five years, bringing the average property value to almost £300,000, according to new research. It is expected that property hotspots will emerge in the North of England with employment opportunities and business start-up rates helping to close the gap on the current property hubs of London and the South. The research from Barclays Bank also predicts that buy to let investments and high net worth millennial investors are set to lead the way in fuelling the property market going forward and they are likely to look for higher yields outside of London. Overall, despite an uncertain economic and political climate, the report says that…