Property Consulting

Relying solely on property wealth to fund retirement can be a risky business:

In 2021 the average property increased by approximately 10%, thus there is large concern brought about by 20% of homeowners in the UK. Many are considering using capital reserves to fund their retirement plans. It has been discovered that 70% of people over 65 are financially dependent on their pension as the main source of income but are also homeowners.The main message that is being communicated is to avoid depending on one property and state pension to fund later life as prices are increasingly fluctuating and major inflation is imminent,   __ Invest wisely, plan ahea

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Commercial Property market high:

The commercial property market in Northern Ireland has hit the record of the strongest year since 2017 aligning with investment volumes. Approximately, £10 million was invested per transaction in 2021, over 30 transactions were done. According to the survey conducted by CBRE just under 50% of overall investment was within Offices and Retail. Largest investors were institutional - this shows the turn towards a higher standard of living and provides an attractive element for international companies and thus further improved returns in 2022.  __ Will you be investing comme

Property Consulting

Gove is pushing property firms to make buildings ‘safe’ prior to selling:

Many buildings are put at risk by cladding or facing legal action due to safety problems caused by cladding as observed by the Grenfell Tower incident. Gove has imposed a deadline for Easter to make sure this material is removed from all lowrise blocks otherwise these firms will be exposed and “pursued.”  This is due to the protest which is based upon the idea that those who have profited and continue to profit from the sale of these unsafe buildings must take responsibility. Loans for these buildings will be replaced by a limited grant scheme in order to support those wh

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New law: Property requires notification to identify whether it is in the 100 year floodplain [U.S.A]

A new law routing from HB 531, was put in place from the new year. This notice means that sellers must indicate, by using the Federal Emergency Management flood map, whether the unit that is being sold is located within a 100 year floodplain. This is so renters and buyers can purchase flood insurance , this is necessary as renters insurance or home insurance does not cover this. The director of marketing communications for the ITEX group  said : “ ..transformational experiences for our tenants, starting with transparency and preparedness.” —-- Do you think it should b

Property Consulting

Predictions for the property market 2022:

After the uproar over the Omicron variant there has been a big discussion upon predictions for the property market this year. Many experts are speculating various factors and potential difficulties facing the property sector. Post lockdown in 2020, the demand in the UK for property rapidly increased, particularly those with access to outside areas. The demand has remained the same ever since. Although the demand for properties remains high, the new build sector is struggling due to supply shortages of materials and staff due to illnesses and time being spent in quarantin

Property Consulting

U.K house prices rise at the fastest pace since 2006:

By November this year the average price of a property in the U.K was £272,992. This is £20,000 more, 10.4% more (as a percentage) than December 2020.   Now, Why might this be, you ask?  According to Russell Galley- who is the managing director at Halifax -suggests that the issue is a shortage in available properties and competition between mortgage providers to keep their rates at “historic lows.” Shockingly, the house sales , post the stamp duty holiday, have plummeted and show a 9 year low.  Many believe this is due to the COVID-19 variants which have restricted citiz