Monday, July 25, 2022
HomeProperty InsuranceBungalows all the fad, the greening of tradesmen, anti-money laundering (AML) compliance,...

Bungalows all the fad, the greening of tradesmen, anti-money laundering (AML) compliance, and pimp your London residence

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Need to know what’s hitting the headlines of UK property information? Simply learn on. You’ll discover a actual combined bag of matters spanning the pursuits of each householders, renters, and even the tradesmen who take care of our properties.

Bungalow gross sales soar as older {couples} downsize

Bungalows are all the fad amongst at present’s patrons who’re scrabbling for properties with larger gardens and alternatives to increase as older homeowners who’ve determined to downsize.

The burgeoning marketplace for bungalows is highlighted in a narrative printed by the Mail On-line on the 18th of April citing figures from on-line listings web site Zoopla which counsel that demand for this type of residence has shot up by 60% to this point in 2022.

Whereas bungalows have conventionally been round 5% cheaper than normal homes, the upsurge in demand is fuelling a rise in costs. The newspaper story talked about a number of current patrons who’ve successfully paid a premium as a way to safe the acquisition of a bungalow rather than the home during which they beforehand lived.

Big leap in demand for rental properties

In a narrative on the final week, Landlord At this time revealed an enormous leap in demand for rental property. This continues the report exercise within the rental market achieved on the finish of 2021 when demand reached its highest since 2011.

Figures for the primary three months of this 12 months counsel that demand for rental property has grown steadily all through the course of successive Covid lockdowns and past.

In a current survey, 62% of landlords stated they discovered elevated demand throughout the first quarter of this 12 months – virtually double the proportion who reported such a requirement this time final 12 months and 4 occasions the extent reported in the beginning of 2020, when solely 16% of landlords believed demand was rising.

Amongst these landlords reporting a rise in demand, 34% described it as “vital” whereas 28% described the rise as “slight”. Reviews of both vital or slight falls in demand have been reported by simply 3% of landlords – the bottom recorded.

Research reveals 63% of tradespeople are going greener in 2022

Plainly many tradesmen are going greener in response to a surge in demand amongst their clients for so-called “eco-improvements” to their properties, stated Property Investor At this time on the 20th of April.

As tradesmen reply to the uptick in demand for constructing works such because the set up of warmth pumps and electrical automobile (EV) charging factors – to not point out the continuing demand for roof insulation – so they’re making a degree of studying the mandatory new expertise and changing into greener in their very own enterprise strategies and practices.

Eight out of ten tradesmen forecast even higher demand for eco-friendly residence enhancements within the 12 months forward whereas greater than 4 in ten householders additionally stated they might give choice to environmentally pleasant tradesmen when appointing a contractor.

A 3rd of property professionals say they’re not AML compliant 

A 3rd of execs at work within the booming property sector confess that they don’t seem to be anti-money laundering (AML) compliant, in accordance with an article in Property Agent At this time on the 21st of April.

Citing a current survey of property professionals, the article revealed that a couple of in three of them doubted whether or not their present working practices enabled them to adjust to HM Customs & Income (HMRC) guidelines on anti-money laundering.

Few of the property professionals professed to giving AML compliance a really excessive precedence of their work – with 23% as a substitute explaining that assembly their very own private enterprise targets was extra necessary, an additional 14% saying that seizing alternatives to earn extra was a extra necessary aim, and 26% of these surveyed saying that each these goals took precedence over AML compliance.  

London property: The one factor that may add £50k to the worth of your property and £350 a month to your lease

In case you personal property in London, there’s one shocking characteristic that might add as a lot as £50,000 to the market worth of your property or an additional £350 to £400 a month to the lease you accumulate on a purchase to let property.

That cash-making characteristic has nothing to do with the property itself, insists a narrative in My London on the 20th of April, however the easy attraction of a devoted cycle lane on the street exterior the house.

Surveys performed all through London’s 32 boroughs confirmed {that a} beneficial premium is added to an owner-occupied or rented residence just by advantage of it being alongside one of many six principal “cycle superhighways” that crisscross the capital.

 

 



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