Brexit

The UK and Brexit – a damp squib for the property market?

 At the time of the Brexit vote we commented that it would be the end of the year before there was an indication of its effect on property prices. The good news is that forecasts of the UK’s house price boom coming to an end have proved largely unfounded.  Ultra-low mortgage rates, record high employment and a lack of housing stock keep prices moving upwards. Figures compiled by the Office for National Statistics and the Land Registry for November show an annual increase of 6.7% and a jump of £2,000 from October. In England prices rose by 7.2%, but Wales and Scotland lagged behind with growth of 4.1% and 3.3% respectively.

The fall in the value of the pound has certainly helped to attract foreign buyers back into central London after they were put off by high stamp duty rates. House prices in London rose by 1.8 per cent on a monthly basis in November, reversing the 1.2 per cent drop in the previous month and undoing the dip in prices of £8,000 between July and October.  Nevertheless, annual house price growth is beginning to slow as property prices begin to reach a peak of affordability for many buyers. The average house price in London still remains significantly higher than anywhere else, however, reaching £482,000 in November, compared with £313,000 in the southeast and  £127,000 in the northeast.

However, while trends in house price growth have barely changed since the Brexit vote, the number of housing sales has slumped. There was a 22 per cent drop in property transactions in England during September compared with last year, according to the latest data available. Estate agents have reported a sharp fall in transactions as homeowners consider it too expensive to trade up owing to stamp duty costs or wait to see what happens to the economy. The number of buy-to-let investors is also falling amid the extra 3 per cent stamp duty surcharge on second homes. This is particularly evident in London where the number of completions in London fell by 39.5 per cent to 6,698, compared with 11,065 in September 2015.

Walton

Walton – Pre-­development Land Investment

The Walton Group of Companies (Walton) is a multinational real estate investment and development group headquartered in Calgary, Alberta, Canada. Walton’s expertise encompasses the research, acquisition, planning, administration management and development of strategically located land in major North American growth corridors.

For over 30 years, Walton has formed land­‐based real estate investments for individual and institutional investors worldwide. Walton has syndicated land in Alberta, Ontario, Arizona, Texas, Georgia, Washington D.C., the Carolinas, Southern California, Central Florida and Nashville, laying the foundation for communities where people can live, work and play and generate wealth for clients around the globe.

Walton’s Experience

  • Over 89,000* clients worldwide
  • Over $4.2 billion CAD* in assets under administration or management
  • More than 85,000 acres* of land under administration or management
  • Over $1.7 billion CAD** distributed to clients

For more information and full details about the track record and latest pre‐development land investment opportunity, please contact us below.


*Approximate as of March 31, 2014
** Amount returned is in unaudited Canadian dollars and consists of Exit proceeds on sales of pre-­‐development land, distributions, interest and Principal repayment on development projects, and interest and principal repayment on corporate bonds.

This is for general information purposes only and is not an offer to sell or a solicitation of an offer to buy any Walton land investment. Any sales of a Walton land investment will only be conducted using sales documentation prepared in accordance with applicable laws. You should review such offering documentation and consult your professional advisors before making any decision to invest. The above does not discuss the risks associated with real estate investment.


Refurbishment

Refurbishment Service

For discerning investors and owner-occupiers we offer an unparalleled service for the purchase and refurbishment of quality central London properties.

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Many investors see the attractions to buying a quality freehold house or an established apartment in one of London’s many quality buildings. Refurbishing such a property has many attractions including increasing its value and appeal to both the owner-occupier and rental markets. Owner–occupiers are attracted to newly refurbished properties and this increases their appeal in the re-sale market.

The service we provide

We have have had extensive property development and refurbishment experience
Through our property search service we can identify suitable properties that require refurbishment and which will make sound investments.

We can also assist investors who have identified a property and require our assistance to refurbish it.We have had extensive experience in refurbishing property in London.

The first step is to determine the extent of the work to be carried out and the cost of doing it. In order to avoid cost overruns, it is important that a detailed budget is prepared and that this be adhered to.

We work closely with leading firms of architects based in the UK. Where appropriate they will prepare all the plans and secure any necessary approvals for the work to be carried out.

To ensure that the property is both aesthetically appealing and is cost efficiently refurbished we also work closely with professional interior designers. These firms have had extensive experience in the interior design field, especially with central London properties for the rental market.

We obtain quotes from reputable contractors and ensure the work is competitively priced. We use Federation of Master Builders contractors who work under the approved FMB form of contract. If there are structural works or other works requiring compliance with Building Regulations there is a Warranty available, otherwise there is a 6 months defects liability period. Once the quotes have been accepted by the client we oversee the work to ensure it is completed on time and on budget. Our UK Director, Mr. Dan Wainwright MRICS is a highly experienced Chartered Surveyor and directly oversees this function. Monthly progress reports are provided to the client where appropriate.

We provide the following on completion of the work;

  • Photographs to show all aspects of the property and the work that has been carried out
  • Detailed accounts to summarize the expenditure
  • If required, opinions from letting agents on rental values
  • A comprehensive lettings and management service to ensure ongoing ownership of the property is trouble-free

For further information on our bespoke refurbishment service please contact us.

Lettings and Management

Lettings and Management

We provide a comprehensive and professional management service for residential properties in London. We serve both local and overseas clients and cover all aspects of letting and managing a property. Our emphasis is on ensuring our clients ownership is a trouble free and profitable experience.

Lettings service

Our aim is to secure a suitable tenant in the shortest period of time and at the optimum rental level. By enlisting the help of other professional firms, including relocation and estate agents, in finding the right tenant we increase the chances of successfully doing this. Once a suitable applicant has been found we vet the person to ensure he or she meets the criteria agreed at the outset with our client. We then handle all aspects of preparing the lease agreement and hand-over of the property to the successful applicant. Our service includes :

  • Preparing an inspection report advising on the condition of the property
  • Preparing photographs and listing the property with other agents
  • Marketing the property for rent
  • Negotiating the rental terms
  • Preparing & signing the tenancy agreement
  • Where necessary having the tenancy agreement stamped and relevant forms submitted for taxation purposes
  • Arranging the opening and closing of utility accounts where appropriate

Management service

Our priority is to ensure that our clients enjoy peace of mind, knowing that their property is being properly managed on their behalf. We focus on ensuring;

  • Costs are kept to a minimum
  • The property is kept to the required standard
  • The tenant enjoys peaceful occupation of the property with the aim of the tenancy being renewed
  • Our clients are not inconvenienced by day to day management issues
  • All contacts with the tenant is handled by us.
  • All deposit/refund deposit (Rental or Utilities) are paid promptly
  • Inventory and check in and check out reports are prepared to ensure the tenant has kept the property in good order

Rent collection – our service includes;

  • Issuing monthly rental invoices and receipts
  • Issuing reminders if required
  • Managing disputes/legal proceedings
  • Arranging for the payment of service charges/management fees and rates /ground rent where appropriate.

Repairs and Maintenance – our service includes;

  • Ensuring timely response to emergencies
  • Obtaining quotes from reputable maintenance contractor for all repair and maintenance work
  • Monitoring the contractor to ensure prompt and cost effective repairs and maintenance
  • Organising insurance claims where and when appropriate

For information of our fee structure please contact us.

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London Search Service

St. David provides a comprehensive search service, which includes identifying suitable investment properties, handling all aspects of the purchase and providing a professional lettings and management service.

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The benefit to you in using our Property Search Service:

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  • By using the service you will have unrestricted access to a large range of properties for sale.  You will not be restricted to those properties handled by any one agent.
  • Out of the large number of properties that are available, St. David will identify and provide an objective assessment of those that best meet your requirements.
  • St. David will assess the rental and capital growth prospects and where appropriate will assist with any refurbishment work, furniture package etc.
  • Your valuable time will not be wasted considering unsuitable properties.
  • St. David will negotiate on the client’s behalf to ensure the minimum price is paid for the property.  The cost saving may easily be in excess of St. David’s fee.

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Once St David has been appointed it will undertake its research and subsequently forward details of suitable properties that meet the client’s requirements. For every property it recommends it will provide:
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  • Location map
  • External photographs of the street
  • Internal photographs of each room
  • Lay out plan and dimensions
  • Lease details, rental assessment etc.
  • Recommendations re refurbishment work etc.

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If the properties are deemed not suitable, St. David will refine the search criteria and provide additional properties for consideration.

Once the property has been chosen St. David will assist with all aspects of the transaction, including price negotiation, appointment of a solicitor, property conveyance and mortgage advice. It can also provide a full lettings and management service.

St. David is only paid if the client buys one or more of the properties it recommends. For details of our fee arrangement please contact us.

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London Apartments

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Off plan and existing properties

The London market is continuing to perform strongly and is now regarded as a ‘safe haven’ for international investors. There is strong rental demand for apartments close to public transport, with yields varying from 4% to 6%.  Capital growth of 7% to 10% per annum may be expected. Further information on the London market can be found in our London Buyers Guide and for information on specific opportunities please contact us.