News

Increase in Average Rents Driven by London

The continued growth in Greater London rental prices is inflating the average rental figure for the UK. When Greater London is excluded from the data, the average UK rent was actually the same in April 2012 as it was last year (£660). Several regions of the UK have seen little growth in rental prices since last year, and in some regions rents are considerably cheaper than 12 months ago. It seems simple supply and demand economics show that while there remains extremely strong tenant demand the supply of houses to rent has also increased considerably resulting in little or no growth in the average rent achieved – Source Homelet Rental Index – April 2012.

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Strong Demand for That Something a Bit Special

Despite the strong lettings market the lettings team at HRL&M

Despite the strong lettings market the lettings team at HRL&M have been surprised at the level of interest in “above average” rental properties. When instructed to market a 3 bed Keighley property at £800 per calendar month, we were somewhat apprehensive at the level of interest it would receive. As it turns out however, it seems the severe lack of this property type in this area would have resulted in us being able to let the house three times over.

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No slow down for the festive period!!

Demand continues to soar in the run up to Christmas with many tenants still having a desire to move before the New Year,

The sustained high demand is a contrast to the typically quiet periods experienced by landlords and letting agents at this time of year. But with tenants continuing to be cautious about purchasing their own home, December is expected to be a busy time for those in the residential lettings sector.

The Aire Valley is no exception and it looks unlikely there will be any let up in the usually quiet run up to Christmas. Lee Bilbrough, Director, commented “The last three weeks of December are commonly much quieter in terms of new enquiries and completed deals although this year ;looks like being very different. Usually prospective tenants turn their attentions to other things and decide to hold off their search for property until the New Year although tenant enquiries remain strong and I anticipate doing deals right across Christmas”

To take advantage of this busy time please contact Lee Bilbrough via our contacts page who will be delighted to assist.

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“Ever wanted to see an Estate Agent fall out of a plane?”

POSTPONED AGAIN – Honestly – (No I didn’t chicken out!!)

Despite what everybody is thinking Lee would like to tell everyone he has not chickened out of jumping out of a plane from over 10000 ft (approximately 2 miles up!) and it is indeed true it has been postponed for a third time due to poor weather. The centre is now closed until February and the next opportunity for him is the 23rd March 2012. Lets hope it is 4th time lucky!!

I am sure there are a few people who would be delighted to see an estate agent fall out of an aeroplane – Well heres your chance although Lettings director, Lee Bilbrough has volunteered!!!.

The postponement however gives Lee longer to help raise more cash in aid of the the fantastic work carried out by the Manorlands Hospice in Oxenhope.

“I thought I would twin a life time ambition with helping raise fund for this fantastic charity”

If you would like to support Lee and ensure he is unable to “chicken out” then either drop him an email – lee@hayfieldrobinson.co.uk – or donate on line at www.virginmoneygiving.com/leebilbrough.

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Only Hours to go till Jump Time

Cant back out now!!!

With only a few hours to go till my first (and last) parachute jump it no longer seems like such a good idea. The difficulty is however that along with my BNI colleague, Steve Burles, we are set to raise well in excess of £1000 for Manorlands so backing out doesnt seem like an option.

There is still time therefore to sponsor me so please feel free to call, text or email or ideally log on to www.virginmoneygiving.com/leebilbrough with your support.

Watch this space next week for an update!!!

Category : News

Don’t Worry – Were not entering the WRC

New Golf a hit with clients

We would like to re assure its clients that despite the numerous comments and humorous quips they have not decided to enter the WRC and will be concentrating on letting houses.

Having recently added a VW Golf to their array of promotional materials and it seems many have confused director, Lee Bilbrough as the next “stig” wannabe. Lee commented “ the car is a great marketing tool for our clients and has helped raise our profile in the market place. We are always on the lookout for initiatives that assist us in offering a first class service to our clients and their tenants.”. The car has already had a positive impact as Lee was approached in Sainsbury’s car park by a landlord experiencing some issues with his tenant and subsequently received instructions to manage the property.

If you would like to talk to Lee about any aspect of residential lettings or are seeking a property to let the he can be contacted on 01535 600097 or lee@hayfieldrobinson.co.uk

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POPULARITY OF BUY TO LET ON THE UP

According to a recent report conducted by the National Landlords Association (NLA), demand for buy-to-let mortgages is increasing as investors look to take advantage of rising rental yields. This is causing lenders to expand their buy-to-let mortgage offerings and approve a higher number of loans and at greater values.

A survey by the NLA’s mortgage broker division found that the number of buy-to-let schemes provided during the second quarter of 2011 grew by 25 per cent when compared to the first three months of the year.
Meanwhile, average loan sizes increased by £2,166 to £138,525.80, representing a growth of 6.4 per cent since January.

The NLA said this growth was largely down to the greater number of lenders offering higher loan-to-value (LTV) mortgages and the availability of finance for Houses of Multiple Occupation.

The figures revealed that over 50 per cent of buy-to-let offers processed by NLA Mortgages were for loans over 70 per cent LTV – resulting in an average LTV of 67 per cent for the quarter.

The findings by NLA Mortgages are very positive. Landlords provide a valuable source of housing at a time when tenants are finding it increasingly difficult to find properties to rent and mortgage products that encourage greater investment in the private-rented sector should be encouraged”

On a local level Hayfield Robinson Lettings & Management have seen a notable increase in investors looking to grow their rental portfolios and take advantage of their Investor service. Lee Bilbrough, director, commented “ Many of our existing landlords are again looking at residential property as the place to invest and we have been able to source some very good deals on their behalf. I do however recommend serious consideration is given to the property type and location and urge investors not to base their decision on price alone. Even in this strong market certain property types are sticking so buying the right property in the right area remains the key to a successful investment”.

With interest rates still at record lows and predicted to stay that way for some time residential property is becoming increasingly attractive to investors. If you are considering a Buy to Let or would like more general advice on the lettings market then please feel free to contact Lee Bilbrough on 01535 600097 or lee@hayfieldrobinson.co.uk

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Focus on ENERGY PERFORMANCE

Landlords – Don’t forget your EPC

An Energy Performance Certificate tells you how energy efficient a home is on a scale of A-G. The most efficient homes – which should have the lowest fuel bills – are in band A. The Certificate also tells you, on a scale of A-G, about the impact the home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions. The average property in the UK is in bands D-E for both ratings. The Certificate also includes recommendations on ways to improve the home’s energy efficiency to save you money and help the environment.

A landlord (or landlord’s agent) will be required to show the EPC to prospective tenants. The tenant will be able to see at a glance how enery efficient and environmentally friendly a particular rental property is.

They should be provided when any written information about the property is provided or a viewing undertaken. If neither of these occur it must be supplied before entering into a contract to let. A tenant cannot ‘legally’ move in to the property until an Energy Performance Certificate has been produced.

There is no need to get EPCs for current tenancies or renewals to the same tenants.

If you are considering letting your property and need further guidance on EPC’s or any other aspect of lettings and management then please feel free to contact us.

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