Signs of life in buy-to-let (clickable link)

Landlords are buying more properties than they are selling for the first time in two years, suggesting that activity could be picking up in the buy-to-let sector, according to the body that represents UK letting agents.

More than double the number of estate agents reported that landlords were buying properties in the first quarter of 2009 compared with the previous three months, according to the Association of Residential Letting Agents (Arla), which suggested that sentiment in the buy-to-let market seemed to be improving. A lower number of Arla members said landlords were selling properties.

By Daniel Thomas, Property Correspondent

Published: March 30 2009 02:13 | Last updated: March 30 2009 02:13

Copyright The Financial Times Limited 2009

New Build House Design in East Dulwich

Mortgage approvals up 16% in February

Number of approvals rises strongly but total lending only slightly up and still half that of a year ago.
The number of mortgages for new house purchases approved rose by 16% in February on the previous month to 28,179, according to the latest data from the British Bankers Association (BBA).
This figure is also significantly higher than the six-month average of 22,068. In addition, banks approved £7.8bn of mortgages in February, a marginal rise on the January figure of £7.6bn.
However, the £7.8bn mortgage approval figure was still less than half the equivalent for the same month last year, falling by 56.5%.
In addition, the actual amount of money issued by banks on mortgages, which lags the approval of mortgages by around a month, was higher than the mortgage approval figure, at £9.2bn, meaning the overall trend is still for a decreasing amount of lending. The £9.2bn gross mortgage lending figure was its lowest level since June 2001.
Markets reacted positively to the “encouraging” data. Charlie Campbell, analyst for Liberum Capital, said: “This is not the bottom of the housing market, but at least it's the end of the period of freefall, and might mean volumes increase this year even as prices continue to weaken.”
Simon Rubinsohn, chief economist at the RICS, said the data showed that the increase in buyer enquiries highlighted previously by the RICS was now feeding through into actual transactions. He said: “Suggestions that the heightened level of interest was just window shopping are clearly misplaced.”
Source:24 March, 2009
By Joey Gardiner
www.building.co.uk

Kosher Kingdom On Site

Fire damaged supermarket refurbishment underway.

Original fire story link

We built our own homes (clickable link)

Cheap land, cheap labour and accessible funding make this the best time in years to build your own home from scratch

As years go, 2009 is not proving to be a great one for the housing market. Prices have plunged precipitously, repossessions are on the rise and mortgage deals are thin on the ground. Hunkering down and trying to weather the storm seems to be the safest course. Surely, then, to get out the bricks and mortar – or, more likely these days, wood – and start building your own home would be the height of folly?
PlotSearch, a database that enables self-builders to look for suitable land, says that the number of plots on its books rose by 20% during the course of last year – at the latest count, it had 7,628 of them across the country advertised for sale. They are also getting cheaper. “Land prices are down by 50%, whereas house prices are down by 15%-20%, so you’ve already seen a significant differential,” says Liam Bailey, head of residential research at Knight Frank estate agency.
Obtaining a regular mortgage these days is not easy, but lenders are still keen to finance self-builders – offering as much as 95% of the land and build cost.

Yoop architects could assist in finding plots and evaluating your options, call Bash for advice 020 8954 6291or bk@yooparchitects.co.uk

Also Castleview mortagages 0844 561 7177 for finance advice.

Source:The Sunday Times, Lucy Denyer

March 15, 2009

End to twin tracking planning applications

Local authorities can now refuse dual applications for the same scheme.
A common tactic for large schemes where developers where looking to hedge their bets, reduce planning risk and bring pressure to bear on under resourced planning departments.
Source:Sarah Bevan, propertyweek.com

Pidgley: Housing market is 'very close to bottom'

Berkeley boss says worst of housing crisis has passed as he braces for 'steady recovery' in 2009
Tony Pidgley, the Berkeley Group chief executive, has said the housing market is “very close” to the bottom.
Pidgley, who gained a guru-like notoriety after correctly predicting the recession of the late eighties, said 2009 could be a year of “steady recovery”.
He said: “I haven’t called the bottom of the market, but we are getting very close. I would say the worst is behind us.”
“It wouldn’t take much to see a pick-up and most of my housebuilding colleagues have seen a fair spike in activity so far this year.”
Asked whether he has begun spending any of the £50m Berkeley had raised in a share placement last month, he said: “A number of deals are being done where people are selling off assets, but I obviously cant talk about them at the moment.”

Source:16 March, 2009
By Tom Bill, Building Magazine, http://www.building.co.uk/

Morrison gains share as recession bites (link)

By Maggie Urry

Published: March 12 2009 08:22 | Last updated: March 12 2009 09:07

Wm Morrison on Thursday reported sales gains ahead of rivals as the UK’s fourth largest supermarket group increased market share.

Like-for-like sales, excluding fuel, rose 7.9 per cent in its financial year to February 1, while total sales jumped 12 per cent to £14.5bn.

For full story hit title link. Copyright The Financial Times Limited 2009

YOOP Talk Interview: Carla Day of Castleview Independent Mortgage Brokers

Up to date insight into the mortgage market from Carla Day, Director of Castleview Independent Mortgage and Insurance brokers (www.castleviewmortgages.com) and with more that 20 years experience in the financial services sector




YOOP: So how is demand for mortgages in Feb/March?



CD: We’re busier than it has been for a long time. A definite pick-up in interest and I’m particularly pleased to see enquiries coming through from first time buyers.



YOOP: Everyone is talking about remortgaging to a tracker to take advantage of the low interest rate?



CD: It’s best to seek professional advice from a broker as everyone’s situation is different. Whilst there are some attractive rates out there, the best deals are for those with significant (around 40-50%) equity and it may end up costing you more to move the mortgage, compared to the saving you’d make. Speak to an independent mortgage broker for help.



YOOP: What about home improvement opportunities, how can a broker help?



CD: It’s very cheap to borrow at the moment which makes it a good time to look at improving. As long as you have enough equity in your property you may still be able to borrow against it for home improvements. You can talk to your lender direct about a further advance and how much this would cost each month, or seek advice from a broker.



YOOP: So how does a 'further advance' work?



CD: Most lenders are still willing to lend up to 90% of a property’s current value, less any existing mortgage. You’d need to contact your existing lender and talk through the options with them to get an idea of what they’ll lend you and what the monthly payments are. Find out what fees you’ll need to pay whether you’ll need to have a valuation or survey done. It’s usually a relatively quick process and sometimes can take just a couple of weeks before you have your money in the bank ready to get the work started, plus its going to add value to your property.




YOOP: Are there still mortgages out there? Can people still borrow?

CD: Whilst a lot of lenders have restricted their lending, people can still borrow. The government is putting more funds into the banking system so that credit can be more freely available. Even those with some credit history problems may still qualify, although more restrictions, higher deposits and higher rates will usually apply. 



YOOP: Thanks Carla, for all your insight and advice.

If you would like further information or have a question for Carla,
email info@castleviewmortgages.com or blog@yooparchitects.co.uk

Your home is at risk if you do not keep up repayments on your mortgage. CDFS Limited T/A Castleview Independent Mortgage Brokers is authorised and regulated by the Financial Services Authority.

Falling Costs Boost Small Businesses!

Small business benefited from deflation of 2.9%, the main benefit was in petrol and raw material costs.
Source: Metro 9 March 2009

Homeowners turn to Improvements (click me)

Unable to move house, homeowners are turning to improvement projects as the next best alternative.

Despite interest rates falling and further rate cuts expected, moving house remains an rare event in current times. House prices have fallen a long way over the past year and opinion indicates that further reductions are very likely. That, combined with the reduced availability of mortgages, the fear of higher unemployment and of course the high costs with moving home have caused many people to pick the option of home improvement as a more savory alternative.

For full story hit title link above

source:Copyright ©2008 www.improve-your-home.co.uk

Price of Domestic Building Work (click me)

If your thinking of getting some building work done but are unsure to cost, then check
http://www.whatprice.co.uk/building/price.html
This site covers all aspects of current work.
We would recommend this be used as a guide. As always we suggest getting an architect on board early as they can save you money and headaches in the future. You will get the price you want and also the finish and end result you want.
Also consider getting full building regulation approval before work starts to avoid any costly omissions or errors, for example foundations not being deep enough. See an earlier article, a tale of two trees.
Call Bash for further information or advice, 07961319721 or bk@yooparchitects

YOOP Talk Guest: Overseas Perspective-Asia and the new Las Vegas

Don’t move, improve! This is exactly what’s now happening in Macau… Billions of US dollars, when they were worth anything, were poured into Macau for the leisure and gaming industry by the main players such as Wynn, Venetian, MGM, etc.

Stanley Ho lost his 40 year old monopoly on gaming licenses, thus creating the largest building site of high end design and construction in the world since the pyramids. Billions of British pounds, Hong Kong dollars and Chinese Yuan soon flooded the market to invest in property, services and new businesses to cater for the industry.
Just as a four bedroom apartment in Macau late last year was selling easily for $7.8 million (11 HKD to 1 GBP) and Sheldon Adelson’s US$7.2bn was looking like a good investment, the stock market crashed and so too did the Cotai Strip project and all associated investments. Many properties were invested in with the hope that they would be leased out to the 60,000 professional immigrants that would be needed to service the Strip prior to and upon completion.
22 high level cranes on the Strip stood idle at the beginning of 2009 and not being able to sell or rent and in most cases not be able to live in, due to new Chinese visa restrictions, many mainland Chinese investors are now choosing to employ local architects, designers and contractors to renovate and improve their properties so when the market does return in what many believe, is imminent, the investors shall resume their faith in property investment, both residential and commercial.
Macau will inevitably become a tourist hub for Asia as London has always been for Europe and anyone that has either invested in property or bought a family home, improving and not moving is the only way forward to look after your investments.
Guest Blog by: Nigel Godden, Resident Architect in Macau. nigelgodden@yahoo.co.uk

Garden House: Camden

A Georgian terrace extends becoming a vertical garden to seamlessly become part of the neighbors garden.

The site is the original garages for a large
Georgian house. The concept is to not prejudice the garden to the house by creating a vertical extension to the garden.

The house has a basement plus 3 additional
floors with a roof terrace garden.

18.8% drop in planning applications

A survey across 65 planning authorities reveals the drop. Bucking the trend is Watford with a rise of 1%! This reinforces YOOP architects premise of 'don't move improve'
source : inside housing , 27 Feb 2009

Residential Investors out in force for £90m spree

London’s residential auctions racked up almost £90m last week as investors turned out in droves with a renewed appetite for property.
Allsop led the charge by raising £56.49m and achieving a 90% sale rate in its two-day sale at London’s Cumberland hotel, which attracted more than 1,000 people.
investors have concluded that a modest 4%-5% return is better than keeping savings in the bank right now.’
http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3134926

DIY store new frontage

Local DIY shop needs space at front to store goods securely, a Victorian inspired steel and glass structure is proposed.

modular rear extension

Rear extensions, modular, pretty and economic.

Whole food: refurbishment of local supermarket

New store for well know whole food chain.

a CRISP new office

Successful crisp manufacturer seeks to refurbish their staff offices.

Fire damaged whole food super market: refurbishment

Refurbishment of a fire damaged whole food
super market in North London.

New floors, walls, electrics, general fit and cold
stores out of the 1300sqm premises.

Vegetable Salon: Expanding house for and expanding family

A young family to be with a passion for self grown vegetables.

A wraping lightweight structure creates addition space to create a living, kitchen, dining room for great family times. This allows the current living room to be the new master bedroom, adding an additional bedroom. Vegetables not included in the YOOP service!

Family life: maximised space and flexibility

The classic family living scenario.

London house that does not deliver large living spaces for a growing family.

Key concepts of separate spaces for functions while each flows into the other.
Adaptive an flexible living, folding walls create necessary private separation of space when required.

The garden is the extra room, achieved with a glazed wall.

Georgian Garden House: New House in Camden

A garage site becomes an opportunity for a new 3 bed house in Camden.

The garages are the original to the adjacent Georgian house. To manifest a new house on the tigh location an idea of Georgian house meets garden is adopted. The house will transform from terrace to garden. The flank wall will be delivered as a living garden wall.

The site constraints provide a challenge to incorporate a meaningful program of bedrooms, kitchen and living space. A single stair gives access to basement, ground, first and second floor. The lack of garden is addressed by a roof terrace and adds to the garden wall concept.

Concept sketch of Georgian Garden House

Welcome to YOOP Architects

YOOP architects are a young team with a fresh outlook in residential and commercial solutions.

We use our creativity to overcome problems with planning, construction and management.

We have excellent relationships with planners, contractors, trades people, interior designers, suppliers and estate agents to facilitate the best information to meet your development expectations both financially and emotionally.