The Hampstead Property Blog: March 2016

Monday 21 March 2016

Crayford House , Lawn Road NW3 - Buy to let investment

Ive spotted this two bedroom flat on the 5th floor of this ex- local authority block on the eastern fringes of Hampstead. This flat has been modernised throughout and there is nothing that needs to be done cosmetically.

There are some decent looking grounds that the block is set within and a lift. This flat will attract a number of tenants and will rent out pretty fast as well. The location is handy being close to Hampstead Heath, local shops and Belsize Park Tube.

There is always good call for two bedroom flats in this area and they are the fastest selling type of property for the NW3 postcode. Expect to achieve around £1842 per calender month and based on the asking price it will give you a 3.9% net yield. Although, the yields in this area are lower than some, the Capital gains are higher than most. The sales history here shows the last sale was back in 2006 for £193,000 and today the asking price is £539,950 that's an increase of 179.7% or 17.9% per year. The investment will give you the best of both, some income and of course the capital gain.

On the market with Hadleigh Residential for £539,950

http://www.zoopla.co.uk/for-sale/details/39873469

There are lots of imminent changes in the private rented sector , so if you would like to know more about the important things to consider when investing in the NW3 property market, then give me a a call on 020 7435 0420 or pop in to the office, im just on Heath Street.

How Much Is Your Property Worth? Click Here To Find Out For FREE

If you are looking for an agent with experience that can help you find the right tenant for your property, then contact us to find out how we can get the best out of your investment property. Email me on chris@ashmoreresidential.com or give me a call on 020 7435 0420. Pop in for a chat – we are based on Ashmore Residential, Suite 7, 25-27 Heath Street, London, NW3 6TR. The kettle is always on.

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

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Friday 18 March 2016

6.3% rise in Hampstead Property Values adds weight to the local Housing Crisis

Hampstead’s continuing housing shortage is putting the town's (and the Country’s) repute as a nation of homeowners ‘under threat’, as the number of houses being built continues to be woefully inadequate in meeting the ever demanding needs of the growing population in the town. In fact, I was talking to some friends the other day at an evening dinner together; the subject of the Hampstead Property market came up in the conversation (as I am sure it does at many parties in Hampstead) after the weather and politics. My friends said it used to be that if you went out to work and did the right thing, you would expect that relatively quickly over the course of your career you would be buying a house, you would go on holiday every year, and you would save for a pension. However, over recent years, things seem to have changed.

Back in the Autumn, George Osborne, used the Autumn Statement to double the housing budget to £2bn a year from April 2018 in an attempt to increase supply and deliver 100,000 new homes each year until 2020. The Chancellor also introduced a series of initiatives to help get first time buyers on the housing ladder, including the contentious Help to Buy Scheme and extending Right to Buy from not just Council tenants, but to Housing Association tenants as well.

Now that does all sound rather good, but the Country is only building 137,490 properties a year (split down 114,250 built by private builders, 21,560 built by Housing Associations and and a paltry 1,680 council houses). If you look at the graph (courtesy of ONS), you will see nationally, the last time the country was building 230,000 houses a year was in the 1960’s.

How George is going to almost double house building overnight, I don’t know, because using the analogy of a greengrocers; if people want to buy more apples (i.e. houses) in a greengrocers’ shop, giving them more money (i.e. with the Help to Buy scheme) when there's not enough apples in the first place doesn't really help.

Looking at the Hampstead house building figures, in the local authority area as a whole, only 350 properties were built in the last 12 months, split down into 330 privately built properties, 10 housing association and 10 local authority being built. This is simply not enough and the shortage of supply has meant Hampstead property values have continued to rise, meaning they are 6.3% higher than 12 months ago, rising 0.9% in the last month alone.

At school (all those years ago!), I was taught that this economics game is all about supply and demand. The demand for Hampstead property has been particularly strong for properties in the good areas of the town and it is my considered opinion that it is likely to continue this year, driven by growing demand among buyers (both Hampstead homebuyers and Hampstead property owners alike). You see Hampstead’s economy is quite varied, meaning activity is expected to remain relatively strong into the early Summer of 2016, especially as some Hampstead buy to let landlords try to complete purchases ahead of the introduction of new stamp duty rules in April.

Moreover, of supply, well we have spoken about the lack of new building in the town holding things back, but there is another issue relating to supply. Of the existing properties already built, the concern is the number of properties on the market and for sale. The number of properties for sale last month in Hampstead was 822, whilst two and a half years ago, that figure was 900, and just over four years ago it stood at 990… quite a drop!

With demand for Hampstead property rising, minimal new homes being built and less properties coming onto the market, that can only mean one thing ... now is a good time to be a homeowner or landlord in Hampstead. For more articles like this, please visit the Hampstead Property Blog www.nw3propertyblog.com

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

NW3 Eye Candy - Property of The Week - Tasker Road NW3

Now that we are in the Spring, its the time of year for flats with outside space and this two bedroom on Tasker Road caught my eye.

The flat is located in the heart of Belsize Park and within easy reach of South End Green and Hampstead Heath making for a great location. The current owners have maintained this home with no expense spared and its beautifully presented throughout. There is sole use of the rear garden which has been decked and landscaped providing plenty of space to enjoy whats on offer, and of course, the all important BBQ in the summer.

The show piece is the superb living room that leads out from the semi open plan kitchen/dining room. The color scheme and flooring give the place a chic, contemporary and stylish feel. The vaulted ceiling with glass panels lets in lots of natural light and then leads to the bi folding doors onto the garden- super.

There are two generous bedrooms (both en-suite) with fitted storage and wood floors. Overall, this flat has all the aces- desirable location and some great styling cues giving it true ambiance. Dare to be different ? .........here's your chance to be.

On the market for sale with our friends at Goldschmidt and Howland for a cool £1,200,000

http://www.zoopla.co.uk/for-sale/details/39407891

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

Thursday 17 March 2016

Buy to let Investment - Self contained studio flat - Finchley Road NW3

With the Chancellors Budget announced yesterday and the SDLT changes imminent, investors are rushing to grab the remaining housing stock that is offered with vacant possession.

Ive spotted this studio flat located above commercial on Finchley Road on the first floor of a period red brick building. This flat is in the heart of the area , close to the main shopping facilities and various transport links making it ideal for the commuter.

Not much details to go on here as the particulars are a little sparse , though the rent on this flat is 9978 per calendar month and that it will give you a net return of 3.8%, based on the £300k asking price. . Its coming in at a modest 212 square feet, so its only really suited to a single person.

On the market with our friends at Goldschmidt and Howland full details from the link below.

http://www.zoopla.co.uk/for-sale/details/39795817

If you are thinking of investing in the NW3 area and would like to know more about the local lettings market, give me a call om 020 7435 0420 or pop in to the office. I'm just on Heath Street, 50 meters from Hampstead Tube.

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

Monday 14 March 2016

Buy to let investment - Self contained studio - Finchley Road NW3

I have spotted this 3rd floor studio flat in a purpose built block that's pretty handy for the tube and shops in West Hampstead. Its in a small block with a share of the freehold and there is a garage round the back.

The flat itself is in pretty good condition throughout with little preparation required for the letting market. There is also the added benefit of a separate kitchen, laminate floors, a balcony and space to dine. Overall this is one of the better studio flats that is available in the market and ripe for investment.

lets look at some numbers.... the flat will rent out a single person or couple and pretty quickly too. Rent wise, expect to achieve around £1150 per calendar month and here's the good bit.. Most tenants living in this location aren't likely to have a car, given the conveniences on offer. The demand for garages is massive in London generally, it will rent out for £20 a week and the income will go some way towards covering the service charge on the flat. Based on the asking price , the figures quoted will give you a net yield of 3.9 % .

There is good call for studio flats in all of NW3 and they have always made for good rental property, especially something that's of a generous size with good on site amenities, so well worth a look round and considering for an investment portfolio.

On the market with out friends at Foxtons for £349,950

http://www.rightmove.co.uk/property-for-sale/property-38452539.html

If you would like to know more about the NW3 property market and the latest on buy to let investment for the area, give me a call on 020 7435 0420 or pop in to the office on Heath Street for a chat.

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

Friday 11 March 2016

Maitland Park Villas property market outperforms the West Heath Road area property market by 93%

Following a discussion with a local landlord who lives in the West Heath Road area of Hampstead, we got chatting about his two buy to let properties in Hampstead. He wanted some advice on where to buy the next one in Hampstead, so I did a comparison between the different parts of town, but it was particularly interesting when we compared his own area of the West Heath Road area to the Maitland Park Villas area (where one of his Hampstead buy to let properties is, being one of those two bedroom ex-local authority apartments). He was surprised to find that, when I told him, the property market in the Maitland Park Villas area had outperformed the West Heath Road area of Hampstead by 93%!

Let me explain why. The average price of a two bedroom apartment on the Maitland Park Villas Estate is £377,800. When you consider the rents that are achieved in the Maitland Park Villas Estate are an average of £375 per week this gives us a yield of 5.16% per year. So is the Maitland Park Villas Estate the best investment? Well, in the West Heath Road area, where the average value of property in the area is £3,342,000 and the average rent for such property is £1,721 per week, this gives a much lower yield of 2.66% per year. That makes the yield/ return in the Maitland Park Villas Estate 93% proportionality more than property in the West Heath Road area, so surely it is the best investment, isn’t it?

However, this is a great example of annual yield/return not being the only factor when choosing an investment property, as you should also consider how much the value of the property goes up in the long term. In the last 16 years, property values have risen on average by 164.7% in the Maitland Park Villas Estate (rising from £142,700 to the £377,800 mentioned above), which is very impressive considering there was the 2008 property crash. However, average property values for property in the West Heath Road area have risen on average by 238.9% in the same time frame.

So, if you are investing in the Hampstead property, do you want capital value or yield or both? If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see me at our office on Heath Street, Hampstead or please visit the Hampstead Property Blog for more advice and opinion like this.

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

NW3 Eye Candy - Property of the Week - Vale of Health NW3

Today I'd like to talk about one of Hampstead's hidden gems in the much sought after and secluded Vale of Health that is surrounded by The Heath. The Vale of Health is that unusual mix of what seems like rural living but in an urban setting.

Tucked away just off East Heath Road is this great two bedroom apartment located on the second floor of a small purpose built block. The apartment has been modernised to a high standard throughout and offers up just under 1000sq feet of living space. This home has an abundance of light throughout and presented in a neutral colour scheme that accentuates the large open plan living area. The kitchen and dining space have views of the lake from the large terrace that blend together beautifully. The uninterrupted views of the lake, surrounding heath land and not being overlooked by anything else is a huge draw....where in London can you get that ?....

There are two good size bedrooms and the added benefit of a study that is great for those who have the flexibility to work from home and what a great environment to do that in. There's more..... the apartment has the added benefit of a separate storage vault (very handy), lift and secure allocated underground parking.

Those who have the good fortune of living here get the best of what Hampstead has to offer; within easy reach of the tube and mainline station, The Village and uninterrupted views of its natural beauty.

If you fancy joining this club , you'd better be quick because there's a long queue and its first come- first served. By the way,property for sale on this patch doesn't stick about for long either..........

On the market with our friends at Benham and Reeves for £1,450,0000

http://www.rightmove.co.uk/property-for-sale/property-57902354.html

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

Friday 4 March 2016

Hampstead...... good time to buy property?

Following last week’s article, I had an interesting chat with a chap who lives in St. John’s Wood, who popped into our office on Heath Street in Hampstead, whilst his better half was at the hair salon. He is thinking of buying his first buy to let property and he wanted my opinion on the state of the market and if it was a good time to invest. He was particularly worried that with all the newspaper headlines of the Stamp Duty and other changes to the taxation rules. One of the best pieces of advice I can give to those looking to invest in property is a simple trick of the trade. You can judge the affordability of an area’s property market (and thus how much demand there could be) by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.

When we put this to the test, as we talked about a few weeks ago, we found that Hampstead currently has an average property value of around £1,493,815. The average salary of someone living in Hampstead is £53,295. This is a ratio of 27.70 to 1. Most lenders will only lend up to 3 times combined income, so to buy an average house in Hampstead, a first time buyer would need to be on a joint salary of £319, 770 and even then, would need to raise the 5% deposit, which when you take into account buying fees, including Stamp Duty, will be in the order of £165,000.

Tenants’ inability to raise that sort of money for the deposit is driving demand for rental property, If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market for the first time, please pop in and see me at our office on Heath Street, Hampstead

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

NW3 Eye Candy -Property of the Week- Belsize Grove NW3

The large stucco fronted terraced and semi detached buildings that characterise Belsize Park also have some the the best converted flats in the NW3 area .These houses were originally built in the same style, albeit a little smaller, to rival their salubrious neighbours in Bayswater and Kensington.

There has been much thought put into maximising the feeling of space here as the flat spans the whole of the second floor. The principal areas, namely kitchen , living room and dining area have been opened up to create one big space which works very well.

The interior is in a contemporary style with matching colour scheme and period details have been retained wherever possible giving the place character and charm. Two en-suite and reassuringly expensive bathrooms and a further bathroom make this flat suitable for a young family who dont have the budget for a house in the area. The flat is offering up 1400sq ft of space which is the sort of size you get out in the continents.

Located on Belsize Grove, its got a great address as well, being in the center of the area with the tube and shops just round the corner and handy for Hampstead Heath or Primrose Hill Park which is just to the south. If you re in the market for a flat that is big, smart and well located , then this place should be your first stop.

Offered for sale chain free with Hadleigh Residential for a mere snip at £1,750,000

http://www.zoopla.co.uk/for-sale/details/39609926

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

Wednesday 2 March 2016

1 bedroom flat buy to let investment - Beech House, Maitland Park Villas NW3

Hello property hunters,

I have spotted this one bedroom ex local authority flat located on the ground floor which is ripe for investment, Its a very well presented property throughout, there is very little preparation and detailing required here as all the hard work has been done by the current owner.

The flat has a modern finish and there is the added benefit of double glazing and central heating as well s a balcony.Just a short walk to Chalk Farm Tube , this flat is the NW3 buy to let hot spot that is increasing in popularity.

lets look at the figures... for rental this flat will realistically achieve £1350 per calenadar month and based the asking price that will give you a net yield of 4.25% , which is just above average for the area. Delving deeper into the sales history, the figures reveal that this flat is offering the best of both worlds- for yield and capital again. The last sale was back in 2007 for £227,000 and today we have a price of £365,000, so that is a gain of £138,000 or 60.8%. Although house price growth has slowed over the past decade, that's still good going my friends.

I reckon this one is going to get snapped up pretty sharpish.... thinking of investing in NW3? make this place your first stop... On the market with Greene and Co

http://www.zoopla.co.uk/for-sale/details/39670910

Fancy a natter about the local property market and where to invest in NW3? , give me a call on 020 7435 0420

How Much Is Your Property Worth? Click Here To Find Out For FREE

Don't forget to visit the links below to view back dated deals and Hampstead Property News.

NW3 Property Blog and Chris Christodoulou

Hi and thank you for visiting this blog. I have been in the NW3 Property market since 2000, now owning and running with my excellent colleagues, the Ashmore Residential office in Hampstead.

I have always shared my thoughts on the local property market in NW3 with my landlords, but now I want to share this with everyone in the town.

This blog follows the property market in NW3 and the immediate surrounding area. You'll find tips, guidance, and analysis that relates specifically to the NW3 Property Market. I will talk about what is happening in the suburbs’ property market itself, even looking at specific streets or areas.

At other times, I will post what I consider decent buy- to- let deals in NW3 for the buy- to- let landlord. I like to look at the whole of market and give you, what I consider the best investment opportunities.

If you see a potential deal, and want a second opinion, without hesitation, email the Rightmove link to Chris@ashmoreresidential.com . I will always give you my honest opinion on the property and its investment potential. (both good and bad) .

Ashmore Residential

5 Netherby Gardens

Oakwood

EN2 7PA

Office 0208 366 9777

Office Email: info@ashmoreresidential.com

Linkedin http://uk.linkedin.com/pub/chris-christodoulou/32/310/2a0

Property Advice

Monday 21 March 2016

Crayford House , Lawn Road NW3 - Buy to let investment

Friday 18 March 2016

6.3% rise in Hampstead Property Values adds weight to the local Housing Crisis

NW3 Eye Candy - Property of The Week - Tasker Road NW3

Thursday 17 March 2016

Buy to let Investment - Self contained studio flat - Finchley Road NW3

Monday 14 March 2016

Buy to let investment - Self contained studio - Finchley Road NW3

Friday 11 March 2016

Maitland Park Villas property market outperforms the West Heath Road area property market by 93%

NW3 Eye Candy - Property of the Week - Vale of Health NW3

Friday 4 March 2016

Hampstead...... good time to buy property?

NW3 Eye Candy -Property of the Week- Belsize Grove NW3

Wednesday 2 March 2016

1 bedroom flat buy to let investment - Beech House, Maitland Park Villas NW3

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