Tag Archives: housing
Cost Of Farmland Rising Faster Than Housing: Arable Land Prices Up 10.7% In A Year Compared To 3.4% For Property
By Daily Mail Reporter PUBLISHED: 23:54, 29 October 2013 | UPDATED: 00:06, 30 October 2013 Read more: http://www.dailymail…l#ixzz2jgAZE1P9 The price of farmland is rising faster than property for the first time in nearly two decades. Experts say the cost of prime arable land rose by 10.7 per cent last year, compared to an average 3.4 per cent for house prices across the UK. Estate agents Savills said it rose to £7,594 an acre last year and could rise by 40 per cent to £11,000 by 2018. Countryside bliss: The price of farmland is rising faster than property for the first time in nearly two decade It is the first time in 16 years that farmland prices in Britain have risen quicker than even prime Central London property. Christopher Miles, director at Savills, said: ‘Farmland is seen as a tangible asset. ‘People invest in arable land for the same reason they invest in housing, it’s not a piece of paper or a derivative and people have confidence in it because it won’t disappear.’ Arable outperformed prime central London property during the 1973 oil crisis, the winter of 1980 – when interest rates hit 15pc – and the 1990 Gulf War. Easy street: Farmland prices are rising quicker than prime Central London property in areas such as Mayfair, pictured, and Knightsbridge In addition, low numbers of transactions are propping up the price per acre as farmers hold on to arable land as a long-term investment. Overseas buyers consider Britain to have some of the most liberal land ownership laws in the world, while landowners also enjoy business property relief and can pass down holdings to the next generation without incurring inheritance tax. But a resurgence in the UK agricultural industry to meet the demands of a growing global population is also increasing the appeal of farming as a business or an investment. Mr Miles said: ‘As commodity prices remain volatile, land remains an excellent store of wealth.’ Read more: http://www.dailymail…l#ixzz2jgAW1Lf1 Follow us: @MailOnline on Twitter | DailyMail on Facebook Continue reading
Housing bubble fears as UK helps to buy
More Business News: http://smarturl.it/BusinessNews Subscribe: http://smarturl.it/reuterssubscribe Many in Britain long to own a property. But many homes – p… Continue reading
Who’s In For Property Investment?
Last Updated: 23 September 2013Article by Jason Green and Paul Harben Collas Crill Jersey The latest survey from the Royal Institute of Chartered Surveyors has revealed a surge in demand for UK property and the fastest rise in house prices since their peak of seven years ago and a surge in demand for UK property. RICS are not alone in claiming that investors are clamouring to return to the property market. This month’s London Residential Review, produced by Frank Knight, also showed that international investors are driving investment in prime residential property. For overseas investors, the weak pound and low interest rates have driven capital growth in house prices considerably. Taking currency fluctuations into account, Knight Frank is predicting double-digit growth in capital for investors from Europe, USA, Middle East and Asia. For sterling investors, the anticipated growth is 26% – somewhat better than the meagre rates being offered on cash right now. RICS said that although London and the areas around it continued to see the biggest price increases, every region saw prices rise. July saw an acceleration in the housing market recovery that has been running for some time. The growth was seen across the UK. The recovery might have been initially focused in the south-east, but is spreading across the country. RICS particularly saw growth in the west Midlands and the North East, areas which have suffered more than most since the market crash. It is not unusual for us to see our clients achieving double digit income returns on residential property investments. One recent client even expects to receive an income of 15-18% from his buy-to-let. Colliers International also see sustained growth and returning investor confidence in the commercial property market. In its real estate investor forecast, Colliers predicts steady income returns as well as 0.5% rental growth and 3.4% capital value growth. Again, international buyers are playing a major part in the UK commercial property market and they are venturing beyond London to the regions in search of yield. Dougie Lawson, of Lawson and Partners, a property investment and asset management consultancy practice, said: ‘There are many opportunities available for investors to diversify their portfolio. It is possible to buy an “institutional grade” investment property for less than £1m. and with less than £0.5m. with debt.’ Notably, we have recently acted for a number of investors, together with Lawson & Partners, who have purchased commercial investments from Lateral Property Group, one of the UK’s most active developers of food stores, retail units and restaurants. Steven Redgrave, managing director of Lateral, said the company had achieved notable success, completing 34 development projects in the food store, retail and leisure sectors in the past four years, and with a ‘substantial’ forward pipeline. Specifically, Lateral has completed and sold 16 convenience stores in the UK, with eight more due to complete this year. The stores are pre-let to Tesco, Sainsbury’s or Morrisons, generally on 20-year leases with upwards-only reviews, pegged to RPI. A current example as illustrated is a Tesco Express, which is under offer at 6.25% in Peterborough off an initial rent of £47,500. We are helping property investors on the ground here in Channel Islands through the entire process of buying, selling and refinancing UK property. We have a really strong network and can introduce clients to key people including be agents, surveyors, or property tax accountants to make the entire process absolutely seamless. As people who love property, we are always happy to talk all things property. Continue reading
