The Hampstead Property Blog

Thursday, 11 February 2016

A room with a view - Studio flat- buy to let investment Fellows Road NW3

Good morning property hunters,

I've just spotted this superb studio flat located on a high floor of this recently renovated ex-local authority block. The flat is coming in at a generous 322 square feet and has a separate kitchen. The overall condition is excellent and the flat is well presented throughout, your builders will be redundant here as no cosmetic improvements are needed. Just the usual compliance checks for gas safety, the electrical installation is new and of course fire safety regulations to be met. Just add furniture and people. Finally, the views are stunning with all the City's landmarks in sight.

Location is superb, on the southern fringes of Belsize Park and pretty close to the tube at Swiss Cottage and the excellent selection of amenities to include Primrose Hill Park, The Leisure Centre at the end of the street and the wide range of shops in the commercial heart of the area on Finchley Road. There is also Engalnd's Lane local shops and Chalk Farm tube just to the east.

Lets do some figures... this flat will rent and sell in a heartbeat , its got the lot and those views normally come at a prohibitive premium in this postcode (when you can find them). Expect this flat to achieve just over £1200 per calendar month in rent, based on the asking price it will give you a very respectable 4.22% net yield or let me put it to you another way...8.4 times above Bank of England base rate......not bad, me thinks! No legal issues to worry about as there is a long lease, but you will need to check out the remaining term.

Its hot off the press and just come to the market this morning with Victor Stone with an asking price of £345,000 for the leasehold interest.

http://www.zoopla.co.uk/for-sale/details/39478971

If you would like to know more about buy to let investment and the local lettings market, then given me a call on 020 7435 0420 or pop in to the office for a chat, I'm 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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Monday, 8 February 2016

Studio flat- Buy to let Investment- Duncan House, Fellows Road NW3

I was just taking some time out this afternoon before going out on appointments to check out any decent properties that may have come to the market and this gem of a studio flat caught my eye.

Its located on the 4th floor in a purpose built block known as Duncan House on Fellows Road which is a very popular spot for renters. In terms of size and condition its very good and there is over 400sq feet of space on offer, unusual for a studio, more like a 1 bedroom. This flat is ready to be occupied so can earn its keep from day 1. The block has a lift, double glazing and the flat has a southerly aspect looking out onto Primrose Hill Park giving it a favoured position, so all in all a lot going for it.

Lets look at some numbers.... the rent on this flat is a higher than average £1386.67 per calendar month, this is based on the size (being in between large studio and 1 bedroom) and of course, location. Based on the asking price of £425,000 this will give you a net yield of 3.75%. Values of studios are rising rapidly in this pocket of NW3, the new developments around Swiss Cottage tube are also bolstering the values of existing properties in the vicinity. Incidentally, asking prices of the new build apartments by Swiss Cottage tube start from £450,000 and they overlook a main thoroughfare.

On the market with Hadleigh Residential in Belsize Park for £425,000 leasehold

http://www.zoopla.co.uk/for-sale/details/39349087

If you would like advice on buy to let in the Hampstead and Belsize Park area, I'm happy to answer any questions that you may have, 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.

Friday, 5 February 2016

Hampstead Landlords count the cost of a Tory Election win

Can you remember 10.05pm on Thursday, 7^th May 2015 ... with the shock news that BBC Exit Polls suggested the Conservatives would return with a majority? The middle classes in Templewood Avenue and Redington Road exhaled a huge sigh of relief, as Hampstead landlords, faced with rent controls from Red Ed and the Labour Party now had something to cheer about. The Tory’s were always considered to be a political party that accepted the importance of the rental market and supported its development whilst properly targeting the lawbreaker landlords renting out sub-standard rental accommodation.

Since May though, George Osborne announced future rises in stamp duty for buy to let landlords and a change in the interest relief on buy to let mortgages, some people have now started to question that loyalty. However, things could have been a lot worse for Hampstead landlords as previous ideas of making them pay more tax was the idea (which was seriously considered) of increasing Capital Gains Tax rates to the landlord’s own income tax levels. If Landlords would have had to pay capital gains tax of 40% to 45% on any uplift in value, I can tell you here and now, that would have made investing in property a non-starter for almost everyone.

However, I will admit the loss of mortgage higher rate tax relief will make a number of properties not stack up financially. The new rules are likely to slow demand in the Hampstead housing market, which is in fact good news for the other landlords, as there is less competition from 'amateurs' offering too much.

Just a thought, but making Hampstead landlords think twice and

run their numbers more cautiously is not such a bad thing.

So looking at the numbers, the November figures have just been released and they show a growth of property values in Hampstead of 0.6% over the month of November. That figure doesn’t surprise me due to the time of year. It’s quite dangerous to look at one month in isolation, so looking at a more medium term view, over the last 12 months, property values in Hampstead have risen by 4.5%, not bad when you consider inflation is running at -0.1%.

However, regular readers of the Hampstead Property Blog know my passion for looking deeper into the stats. The really interesting information is the value growth, but what types of property are actually selling in Hampstead? Looking at all the properties sold, as recorded by the Land Registry, within a mile of the centre of Hampstead in September 2015 (this data always runs a couple of months behind the house price data) compared to September 2007 (a couple of months before the credit crunch started to bite and the subsequent property crash).

Property Type	Sept 2007	Sept 2015	Difference
Semis in Hampstead	3	3	0%
Terraced Houses in Hampstead	9	1	-88.9%
Apartments / Flats in Hampstead	75	71	-6.6%

Now I have mentioned in previous articles that the numbers of properties selling in the suburb has certainly dropped post 2008, but what amazed me were the drop in the number of terraced houses selling compared to flats/apartments. This trend is largely driven by demographic factors.

Less properties are selling than last decade in Hampstead

and the types of properties selling have changed ...

interesting times ahead for the Hampstead Property market!

Therefore, all I can say to the landlords of Hampstead is do your homework, make sure the numbers stack up, take advice and opinion from professionals and above all, for those of you planning to add to your portfolio, buy the right property at the right price. One place for such advice and opinion on the Hampstead Property market is 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.

Thursday, 4 February 2016

Buy to let Investment Studio flat - Finchley Road NW3

Hi folks,

spotted this band new self- contained studio flat above commercial on Finchley Road very close to the tube station. Its of a very generous size for a studio flat with over 300 square feet of space on offer with good quality fixtures and fittings.

This sort of flat is always in demand being in the heart of the area with all the amenities on your doorstep. As its above average in terms of size and quality, this flat will rent for around £310 per week or £1,343.33 per calendar month. Based on the £426,000 asking price this will give you a net yield of 3.6%.

I doubt this one will hang around for long, i'd get on the phone to the agent and get that viewing booked!

On the market with London Link Properties, click on the link below for the full details

http://www.zoopla.co.uk/for-sale/details/39334048

If you are interested in the buy to let opportunities in the NW3 area and would like to know more about the local market, feel free to give me a call on 020 7435 0420 or pop in to the office for a chat, im on Heath Street, just 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, 1 February 2016

1 bedroom buy to let investment - Stephenson House, Fleet Road NW3

A landlord came in to the office today to sign a tenancy renewal and we got chatting about the local property market. He works in banking and has recently received an end of year bonus and keen to invest in another buy to let property as his other one that we manage for him has done pretty well over the past 4-5 years.

We looked through the current offerings and I picked out this cracking one bedroom located on Fleet Road just off South End Green. This is a one bed room ex-local authority flat located on the ground floor of a purpose built block. Its in pretty decent condition throughout and is pretty much ready to go, subject to a few compliance checks for safety and fire regulations.

Fleet Road just round the corner from The Heath and shops on South End Road with Hampstead Heath mainline station a short walk away as is Belsize Park Tube. This will make it a popular choice for tenants with such amenities close to hand.

Lets do some figures.... with rising rents expect to achieve £1380 for a flat of this type and based on the "offers over " asking price for the Leasehold interest it will give you a net yield of 3.92 % ( I based it on £405K). There is healthy demand for these 1 bedroom flats in ex local blocks as they are good value for investors as well as tenants. Oh ,thought you might like to know this flat has risen in value by over 90 % since the last sale in 2007 or in monetary terms £190,000.

Offered for sale with Greene & Co in Belsize Park offers over £400,000

http://www.zoopla.co.uk/for-sale/details/39353547

As i say to all my readers when it comes to investment, The Golden Rule is do your homework- I'm always happy to express my forthright opinion if you have an investment in mind or would like to know more about the local lettings market, 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.

Friday, 29 January 2016

Is this the final nail in the coffin of ‘buy to let’ in London ?..........

Well George Osborne, in his Autumn statement ,caused Hampstead landlords to ask whether buy to let is a viable investment option, when he announced that landlords, when buying another buy to let property from April this year will have to pay an additional 3% stamp duty on top of the standard rate. So for example, It means that the stamp duty bill for a £285,000 buy to let home will rise from the current £4,250 to £12,800 from April.

Some say property in Hampstead will be worth less because potential landlords will not be willing to pay as much for them, and if house builders or existing homeowners don't feel they are going to get as much for them , then there is less motivation to build / sell them?... and the person we can blame for this is George himself. Back in 2012, he choose to utilise the British housing market to kick start the UK economy, with subsidies, Funding for Lending and Help to Buy. However, whilst that helped the Tory’s get back into power in 2015, some say this impressive growth in the UK property market has been at the expense of pricing out youngsters wanting to buy their first home.

Others say this is the straw that breaks the camel’s back as over the next four years Landlords will slowly lose the ability to offset all their mortgage interest against tax on rental income, after changes announced in the Summer Budget. At the moment, landlords can claim tax relief on buy to let mortgage monthly interest repayments at the top level of tax they pay (i.e 40% or 45%). However, over the next four years this will reduced slowly to the basic rate of tax – currently 20%.

Surely this is the end of Buy to Let in Hampstead? Probably.. but before we all run to hills panicking .. let me give you another thought.

Stamp Duty rules were changed in December 2014. Before then, landlords were eagerly buying up properties under the ‘old slab style Stamp Duty’ system. For example, the stamp duty bill on that £285,000 property was lower on the old slab style duty (pre -Dec 2014), at £8,550, yet it isn’t a million miles away from new £12,800 stamp duty bill. Interestingly though, George has left a legal loophole in the new rules, because when it comes to selling up, they can offset purchase costs against any eventual capital gains tax, including stamp duty

I believe that total returns from buy to let will continue to outpace other investments, such as the stock market, gilts, bonds and even pensions. Also, the best part about investing in property is that it is bricks and mortar. You can touch it, you can feel it, and it isn’t controlled by some City whiz kid in Canary Wharf .. the British understand property and that goes a long way!

Buy to let has enough impetus behind it that prospective landlords will continue to buy even with a larger stamp duty bill. Hampstead landlords will need to be savvy with what property they buy to ensure the extra stamp duty costs are mitigated. Purchasing a buy to let property is a long term venture. In the past, it didn’t matter what property you bought in Hampstead or at what price – you would always make money. Now with these extra taxes, the adage of ‘any old Hampstead house/flat will make money’ has gone out the window. You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why would you take the same advice and opinion about buying a buy to let property in Hampstead?

One source of information, opinion and advice is 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 - St Regis Heights NW3

The Hampstead area is famed for its flat conversions, especially in Belsize Park,though there are some appealing apartments in the purpose built blocks dotted around The Heath. One such development is St Regis Heights, adjacent to The Heath making for an idyllic Hampstead location.

On to the apartment; its a three bedroom duplex arranged over the ground and first floors and very house like in its overall feel with living ares downstairs and bedrooms on the upper level. In through the gated courtyard, enter the building via the reception and your greeted by the uniformed porter. Once in the apartment you get an instant hit of "wow" with its impressive living room that has a very European feel to it with simple clean lines and an uncluttered look- less is more.

There is underfloor heating, integrated music and lighting adding to the sophistication of the place and plasma TVs almost everywhere you look. The living room has lots of space to work and play and a large balcony that over looks the manicured gardens. The kitchen is open plan with all the expected bells and whistles and beautifully crafted to blend in with the living room making for a great space.

The seduction doesn't stop here mind; approach the upper level via the glass spiral staircase there are 3 bedrooms, the master has an en-suite bathroom and access to a private balcony affording the same views as the living room directly beneath.Two further bedrooms, a further bathroom and plenty of storage throughout. In all, there is over 1500sq feet of space on offer,which by toady's standards of modern build apartments is pretty generous. Oh ,by the way, there is also an underground parking space, which is somewhat elusive in most parts of Hampstead.

If you are in the market for something a little different, the smart money is on this, but only if you're feeling flush.... for sale with Heathgate for a cool £2,150,000

http://www.zoopla.co.uk/for-sale/details/39305826

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

Thursday, 11 February 2016

A room with a view - Studio flat- buy to let investment Fellows Road NW3

Monday, 8 February 2016

Studio flat- Buy to let Investment- Duncan House, Fellows Road NW3

Friday, 5 February 2016

Hampstead Landlords count the cost of a Tory Election win

Thursday, 4 February 2016

Buy to let Investment Studio flat - Finchley Road NW3

Monday, 1 February 2016

1 bedroom buy to let investment - Stephenson House, Fleet Road NW3

Friday, 29 January 2016

Is this the final nail in the coffin of ‘buy to let’ in London ?..........

NW3 Eye Candy - Property of the Week - St Regis Heights NW3

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