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Brighton and Hove
e m op m co Pr o l fr e. ca er s Lo p e pa ou th th ha w
NOV 25th 2014
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Local
Agent Insight
selling your home this winter
From recuperation to regeneration apartment living at Royal Alexandra Quarter
For all your local property news www.whathouse.com Looking to buy, sell, rent or let? We’ll make your property vision a reality. Winkworth. See things differently.
Winkworth Brighton & Hove
01273 772175 | brightonhove@winkworth.co.uk 32 Church Road, Hove, BN3 2FN
winkworth.co.uk/brighton-hove
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Specialist in land sale or acquisition, new homes sales & marketing and residential investment.
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nteresting figures came to light last week from house-share website SpareRoom.co.uk. Its survey of over 10,000 users of its website indicated that one in six shared homes in the UK doesn’t have a living room, up from one in ten just three years ago. In London, it’s an even higher proportion, with 19% of shared homes bereft of a communal reception room. Matt Hutchinson, director of SpareRoom.co.uk, said “the demise of the living room is symptomatic of the private rented sector struggling to cope with intense demand. It’s not simply a case of landlords chasing higher yields. Many flat and house sharers tell us they’d compromise on a living room out of choice, if it meant paying less to keep a roof over their heads.” Other data from the survey states that in London, ten people are searching for every room available. It’s no surprise that in circumstances like this, coupled with inflation-busting increases in average rents, desperate people find themselves having to settle for a less-than-ideal place to live. It would be comforting to think ‘Rising Damp’ style accommodation was a relic of the 1970s, but these figures suggest an accelerated return to the bad old days.
Sales executive (Midlands): Tori Collett tc@whathouse.co.uk Head of sales (London) Andy Lunn al@whathouse.co.uk Sales manager (London): Jay Ali ja@whathouse.co.uk Business development manager Richard Woodruff rw@whathouse.co.uk
Account manager: Ann Chaloner ac@whathouse.co.uk Printed by: 39zero | Citrus Distributed by: Team © 2014 Globespan Media Limited No part of this publication may be reproduced without prior written permission from the publishers. The greatest care has been taken to ensure accuracy but the publishers cannot accept responsibility for errors and omissions.
n light of the recent ONS data stating that house prices are up 12% year-on-year, prospective sellers may be considering taking the plunge and making the most of the blossoming property market. But ahead of the traditional seasonal slowdown, and with uncertainty over interest rates and the general election just around the corner, is it really a good time to sell your home? Damien Dunford, valuation manager at Mishon Mackay, offers his advice...
Only one lucky household will win. Don’t miss your chance to win this lovely Joyou bathroom suite. Go to www.facebook.com/whathouseproperty
Time to chill? a property that is too highly priced can look out of step with the rest of the market. Can sellers really know what their properties will fetch? Surely they are only worth what others will pay for them. Property purchase and sale is seldom an end in itself. It usually forms part of a lifechanging event such as gaining independence, committing to a partner, starting a family or reaching retirement. These events are bigger than any property in the overall scheme of
om .c se ou th ha w
TY ER OP M PR O L FR CA ER LO P E PA TH
NOV 25TH 2014
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BRIGHTON AND HOVE
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Agent Insight
Cover picture: Royal Alexandra Quarter, Brighton, from £400,000 Taylor Wimpey; 01273 964262
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Competition closes Friday 28 November. See whathouse.com for terms and conditions.
Keith Osborne Editor, WhatHouse?
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This November we are giving away a complete luxury Amsterdam bathroom suite, courtesy of joyou.co.uk – part of the Grohe Group.
Despite the lowest interest rates and some of the best mortgage deals in living memory, the property market is showing signs of cooling. Some prices set in the spirit of acceptable optimism earlier in the year are beginning to look decidedly overinflated now. And, as any skilled negotiator will tell you, one should always open realistically. A general election is on its way, the European economy again looks worrisome and Christmas is around the corner. If you have any big personal or family events which involve property purchase or sale, now is We have just had two fairly good years the time to be reasonable of rising prices. We have got used to this, about your expectations. but all good things come to an end – Listen to buyers, listen to the until the next time. market and listen to your experienced estate agent. things, so standing on principle can sometimes Listen to your heart – and not your wallet. stand in the way of moving on. Wallets make poor property advisors. Good We have just had two fairly good years of estate agents make better ones. rising prices. We have got used to this, but all good things come to an end – until the next For more information visit time. www.mishonmackay.com; 01273 821800
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Agent Insight
SELLING YOUR HOME THIS WINTER
From recuperation to regeneration APARTMENT LIVING AT ROYAL ALEXANDRA QUARTER
For all your local property news www.whathouse.com Looking to buy, sell, rent or let? We’ll make your property vision a reality. Winkworth. See things differently.
Winkworth Brighton & Hove
01273 772175 | brightonhove@winkworth.co.uk 32 Church Road, Hove, BN3 2FN
winkworth.co.uk/brighton-hove
Standing on principle can be an expensive position to adopt when buying and selling property. In a level or falling market, hanging out for a high price can often backfire, because
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Bognor 01243 624726
Goring 01903 641736
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A COLLECTION OF 8 EXCLUSIVE APARTMENTS AND A UNIQUE FEATURE HOUSE IN HOVE
Tucked away on a leafy avenue in the heart of Hove, Verano is a boutique development of eight elegant spacious apartments and one remarkable threebedroom feature house. Verano has been created with an uncompromising agenda for impeccable design – stylishly contemporary with an unsurpassed luxurious specification. A landmark address for Hove in the making.
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01273 829300 VERANOHOVE.COM Developer:
Interior photograph of Verano.
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Brighton & Hove’s Most stylish and modern city centre estate agency
THE OWNERS OF THESE PROPERTIES paid us only £99 to sell their Home, who says the market is quiet? SOLD
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Room with a Royal View Long Walk Villas, Kings Road, Windsor SL4 2AH Guide Prices from £2.75m Showhouse open daily 10am – 4pm 020 3137 8226 longwalkvillas@octagon.co.uk A magnificent private gated new terrace of beautifully appointed 5 bedroom townhouses overlooking The Long Walk with views of Windsor Castle. Ideally located for Windsor town centre. • • • • • • •
Classically designed new homes offering contemporary and generous living space Private roof terraces with views to Windsor Castle and The Long Walk Within walking distance to Central Windsor (0.4 miles)* Electric entrance gates, secure garaging and visitor parking 24 miles to Hyde Park Corner, Central London and Heathrow Airport is 8 miles* 29 minute train service to London Paddington Ready to move in by Christmas *Source Google maps
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12 | NOV 2014 www.whathouse.coM new homes
Susan Joseph, Taylor Wimpey sales manager, talks to WhatHouse? about this exclusive development
Royal Alexandra Quarter
Q. What is Royal Alexandra Quarter? A. The development is unique as we have refurbished the former Royal Alexandra Hospital, which is an historic hospital building. We have restored the building to its original glory by installing new windows and lead works and matching the original brickwork, but we have done it in a way that remains sympathetic to the building’s character. Q. How do these new homes stand out from the crowd? A. All of the properties at Royal Alexandra Quarter are premium homes – we have ensured both buildings (the old hospital building and a new-build apartment building in the grounds) offer equally high-quality homes but the two buildings do offer different qualities. The former hospital building has been restored which means the homes there are unique and one-off designs with high ceilings and original features, while the new penthouses are luxurious and contemporary in design, offering views across the sea from beautiful big terraces.
Q. Tell us about the show home design? A. Omnific Designs were asked to create a grand apartment that has a modern and luxurious feel. There is lots of artwork in the show home that was specially painted for the development, including a large beautiful picture of Brighton Pier for the entrance hallway. Q. What does the development have to offer in terms of its locality and amenities? A. RAQ is situated in the conservation area
of Clifton Hill, which is an exclusive part of Brighton & Hove. There are lots of boutique shops and restaurants nearby, as well as a choice of supermarkets. The seafront is less than a mile away from the new homes, while The Lanes shopping district is also within easy reach. Q. What kind of buyers have you been attracting? A. Professionals, generally aged between 30-50. Some are from the local area, while
Professional kitchen design
Online gallery and developer testimonials: www.moorebydesign.co.uk The Hersham Centre, Hersham, Surrey, KT12 4HL Tel 01932 379076
others have moved to the city from elsewhere – for example, we find the development really appeals to people living and working in London, who want to enjoy life by the sea, yet be in commuting distance of the Capital. Q. How can people find out more about the penthouses and show home? A. By visiting the sales information centre at the development, which is open Thursday to Monday from 10.00am to 5.00pm. Or by calling the sales executive on 01273 964268.
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We are Brighton’s largest furniture shop selling 20th Century Vintage and Retro Furniture throughout London and the South East of England. Our furniture dates from the 50s, 60s and 70s. TWO FLOORS OF FURNITURE · Sideboards · Lounge Chairs · Coffee Tables · Sofas · Desks · Dining Tables and Chairs · Lighting
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14 | NOV 2014 www.whathouse.coM new homes
Estate Agent Market Analysis Rent costs up 3.7% for new tenants as demand remains strong
T
Rising occupancy rates The average rental property remains empty for 14 days a year, one day less than in the first half of 2014. This represents an occupancy rate of 97%, with half of all available properties let within two weeks. A reduction in the time a property remains empty means there are fewer days when a landlord is not receiving rent, which serves to push up net yields. The number of days a
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property is empty tracks not only the time to find a new tenant, but also the time needed between tenancies to carry out repairs and improvements. Properties in London, the South East and the East of England remain empty for an average of less than 14 days each year, serving to drive down costs and place a degree of upward pressure on yields. Across Wales, the North East and the North West,
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he cost of agreeing a new tenancy rose 3.7% over the past year, with rental growth continuing to be driven by London and the East of England, according to Countrywide Residential Lettings. In London, the cost rose 7.4% to stand at an average of £1,229 pcm in October 2014 on the back of a cooling sales market. The uplift in rents when a tenant signs a new contract is a strong indicator of future sentiment and prospective increases in rent for sitting tenants, while for a new tenant it represents the cost of accessing the rental market. However, it does not automatically follow that a rise in newly agreed rents is immediately passed on to all tenants. The average tenant in the UK saw their rent rise 1.7% over the past 12 months, below the 3.7% seen by a tenant agreeing a new contract. Tenants signing 12, 18 or 24 month deals during which the rent is fixed and landlords choosing not to pass on increases to sitting tenants underpin the difference between the two rates of rental growth.
The average tenant in the UK saw their rent rise 1.7% over the past 12 months, below the 3.7% seen by a tenant agreeing a new contract.
properties remain empty for longer, an average of 18 days a year, indicating the additional time required to find a tenant. Commenting on the data, Nick Dunning, group commercial director of Countrywide plc, said: “Void periods offer landlords the opportunity to re-assess market conditions, make improvements and adjust rent accordingly. Rental growth predominantly occurs when a property is re-marketed and let to a new tenant. An increase in rent for someone moving into a new property will filter through to the rest of the market more slowly, as and when tenants move and new contracts are negotiated. “While the level of demand means that the time taken to find a tenant is at a near record low, landlords should still factor in a short period when their property will be empty. While voids are often associated with the time taken to find a tenant, in stronger markets property can be re let in advance of it becoming empty. Even in these strong markets, time to carry out repairs and facilitate a handover between tenants is a cost which needs to be factored in.”
NHBC – the mark of a quality home
...Buying a new home is a big decision, so you’ll want to know that your property is of good quality and your investment well protected. Only builders approved and registered by NHBC can offer Buildmark, and they must build to the detailed technical standards we have been developing and updating for more than 75 years. It will give you peace of mind to know that all new homes with NHBC’s Buildmark have been independently inspected at key stages during construction, and come with 10 years’ warranty and insurance. This gives you the reassurance that, on the rare occasion when something does go wrong, we’re here to help you.
So, before you buy a new home, make sure it has Buildmark.
Talk to us...
Call us now on 0844 633 1000 and ask for ‘Customer Services’. Or visit www.nhbc.co.uk/myhome H309 06/14
H309 - What House? advert_FINAL.indd 1
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We can pay your Stamp Duty plus contribute towards legal fees.
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Call: 0845 548 3008 Click: www.bellway.co.uk/southeast Visit: Open daily 10am - 5pm with late night opening on Thursday 12pm - 7pm Price correct at time of going to press. Specification on site may differ. Pictures for illustrative purposes only. Terms & conditions apply and can be found at www.bellway.co.uk
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