This Week’s Hottest Property News 24.02.2017


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Short-term letting industry vow to stop landlords converting ‘homes into hotels’ – LandlordToday

The short-term letting industry combine forces to tackle the growing problem of landlords abusing the system and the impact it has on London’s housing crisis. 

The short-term letting industry, which includes the likes of Airbnb, joined local authorities and community groups at City Hall yesterday to discuss growing concerns about the contribution of home-sharing platforms on London’s housing crisis.

Around a quarter of London homes listed on Airbnb are believed to have been rented for more than 90 days last year, many illegally and in breach of an act designed to prevent landlords turning much needed housing into what Labour’s London Assembly housing spokesperson, Tom Copley AM, yesterday described as unofficial hotels.

According to Airbnb, 4,938 of its entire home London listings – 23% of the total – were let out for three months or more, despite a law requiring anyone doing so to apply for planning consent.

Read more here

Buying a property is still cheaper than renting but at £705 a month to buy a three-bed house verses £759 to rent, the gap is narrowing – Daily Mail Online

With the UK’s housing market in free fall, people are caught between the choice of renting over buying a home – but which option is the cheapest? Halifax have uncovered the better way to spend your hard earned cash.

Buying a home remains cheaper than renting, with first-time buyers spending £651 less a year than tenants, new research has revealed.

The average cost of buying a three-bedroom house was £705 a month, compared to £759 a month for tenants. It is a difference of £54 a month, according to the research by Halifax.

The gap between the costs of renting and buying have reduced significantly during the past five years from £962 a year in 2011 to £651 in 2016.

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Fast internet is rental priority – LandlordToday

Revealed: The top reason why tenants leave a property is due to a poor internet connection, according to a survey conducted by Hyperoptic, the full fiber provider. 

Whether for work, study or entertainment reasons, a reliable and affordable broadband connection is likely to be one of the first services that prospective tenants look for in a new home, as it is one thing most people simply cannot live without.

According to a new survey of 3,000 Brits, slow broadband speed at peak-times has been cited as the number one unexpected home-mover bugbear, with many respondents insisting that they would not have moved at all had they known the broadband would be inadequate.

The study suggests that sub-standard broadband connectivity can have an adverse impact on rental values as it can make it harder to attract, and indeed, retain tenants.

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Margaret Thatcher’s former flat in Chelsea for sale:former PM’s two-bedroom home listed for a ‘bargain’ £1.2m – but there’s a catch… – Evening Standard

The Iron Lady’s starter home in Chelsea is currently on the market, at a staggering price of £1,235,000. However, those interested in purchasing a slice of British political history, are in for a bit of a surprise….

Margaret Thatcher ended up strutting the corridors of power — after relaunching her political career walking the corridors of a sixth-floor Chelsea mansion flat.

In 1953 Mrs Thatcher, then 28 and two years married, was juggling her career as a lawyer with her political ambitions and caring for twins Carol and Mark, who were less than a year old.

The scene was the family’s flat in Swan Court, Chelsea Manor Street, part of the Cadogan Estate. Now the two-bedroom, two-bathroom property, built in 1930, is for sale for £1,235,000 through Strutt & Parker.

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What it really costs to get on the property ladder: First-time buyers need £23k for deposit, fees and legal costs – Daily Mail Online

ONS release fresh stats on the realities first time buyers are currently facing in order to get their first home. 

First-time buyers must get together an average of £23,000 to get onto the property ladder, official Government figures suggest.

The Office for National Statistics found that the average price of an ‘entry-level’ home in England and Wales is £140,000, and that means buyers need to pay £300 in stamp duty, an estimated £2,000 for legal and moving costs, and £21,000 for a 15 per cent deposit.

It said a typical household in England and Wales could need an annual household income of £26,444 to be able to borrow enough for an entry-level property.

Read more here

Kirsten Dunst is on the move:Spiderman actress lists her New York loft for £1.6m more than she paid for it – Evening Standard

Ever secretly wanted to sneak a peek round the former Spider Man actresses plush, Tribeca pad? Well now you can, as she has put it on the market for an eye-watering £4 million!

Kirsten Dunst is selling her Manhattan flat for £4 million. The Spider-Man actress paid £2.4 million for the two-bedroom loft, in a smart spot between Soho and Tribeca,in 2007.

The apartment comes with all the style perks of a typical New York loft including exposed brick, an open floorplan and large windows, pictures below.

After testing out the rental market, Dunst, 34, opted to sell — it’s another sign that she is taking her recently reported engagement to Fargo co-star Jesse Plemons, 28, very seriously.

Read more here

A picture-perfect cottage in the Cotswolds for the price of a flat in the suburbs – Country Life

Still thinking of splurging on a family-sized property in London? You might think twice when you see what your money could get you in the stunning Cotswolds, the dream escape for those with a bugaboo clogging up their hallway.

Time to get out of London? A perfect example English country cottage is on the market in the heart of the Cotswolds.

For those who harbour romantic dreams of escaping life within the M25, there is something of an unofficial checklist.

Thatched roof. An open fire. Stone-built. Grade II listed. A picturesque village location. Period features. Sympathetically restored. And all located within striking distance of the bright lights, restaurants and culture of a city.

Read more here 


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