The post-election property market
Dale Norton
  • How is the post-election period shaping up? Dale Norton shares his views about buying & selling in the new climate.
Dale Norton, Founder
Romans Group

dnorton@romans.co.uk
01344 753 101
Dale Norton
Stuart Simpkins
HPa project wins national award   Certainty & clarity required
  • Linden Homes appointed HP architects to work on the conversion of the former Invesco Perpetual offices in Henley.
  • HPa obtained planning consent and produced detailed construction drawings for 46 luxury 1, 2 and 3 bedroom apartments.
  • The Royal Apartments collection won 'Highly Commended' in the Evening Standard Awards (2010) category for Best Conversion.
  • "HPa have designed the extension so sympathetically it looks as if it has always been there." Gary Taylor, Development Director – Linden Homes.
  • The planning and property industries will aid the economic recovery, but they will operate best in a climate of certainty.
  • Regional Strategies have been abolished - decisions on housing supply will rest with local authorities.
  • Before the election, the Government proposed matching the extra council tax on each new home for six years post-construction.
  • Once the process is clarified, we’ll devise innovative ways to maximise commercial advantage.
Stuart Simpkins, HP architects
stuart.simpkins@hp-architects.com
01344 753 213
David Lander - Managing Director
Boyer Planning

davidlander@boyerplanning.co.uk
01344 758 551
David Lander
Peter Coles
Positive post-election signs   Strong sales & good visitor levels
  • New buyer and seller activity remains strong, with stock now 30% up from Q1.
  • Home Information Packs (HIPs) have been scrapped – a move that has been widely welcomed.
  • Our three new branches are performing ahead of expectations.
  • A robust housing market is critical to economic recovery – so I'm confident the new coalition Government will not seek to negatively impact on it.
  • Following more site launches, Q2 has again provided good new stock to the market.
  • Visitor levels are consistent, with a visitor-to-sales ratio at an average of 1:18.
  • We've seen strong sales with buy-to-let investors, including off-plan sales.
  • Many developers are bringing site releases forward, with an opportunity to achieve sales at enhanced values.
Peter Coles, Managing Director
Residential Property

pcoles@romans.co.uk
01344 753 104
Kevin Ellis, Director
Romans New Homes

kellis@romans.co.uk
01344 753 112
Kevin Ellis
Simon Clayton
May auction achieves 95% success   Capital Gains Tax rise expected
  • Our May auction saw the return of many investors, bidding confidently for vacant residential stock.
  • 95% of lots were successfully sold, beating the national sales average by a long margin.
  • Lots with market-led reserves achieved sales figures well above guide prices - in some cases, significantly higher.
  • This may be a window of opportunity before the new Government’s expected cuts take effect.
  • There's speculation that Capital Gains Tax will rise to 40 or 50% in the Emergency Budget.
  • Early signs show that investors aren’t panicking – property is a long term investment for most.
  • Our advice is to wait and see - the tax level may be lower, and taper relief may be reintroduced to encourage landlords to hold properties for longer.
  • The Government should tackle the housing shortage and encourage more investment to meet rental demand.
Simon Clayton MNAVA
Auctions Director

sclayton@romans.co.uk
01344 753 122
Peter Fuller FARLA
Lettings Director

pfuller@romans.co.uk
01344 753 155
Peter Fuller
Dan Lowery

Dilapidations protocol update

  Launch of new mortgage lender
  • In recent times, dilapidations on leasehold properties have been increasingly influenced by the dilapidations protocol.
  • This means all the parties must work effectively to manage and resolve dilapidation disputes in a fair and reasonable manner.
  • Failure to follow the protocol could jeopardise a legitimate claim for damages.
  • Aldermore has entered the mortgage market via a select panel of intermediaries, of which flower IFA is one.
  • This new lender does not credit score - useful for clients who have failed a credit score with a traditional lender.
  • Aldermore allows County Court Judgements (CCJs) or mortgage defaults if over three years old.
  • Maximum LTV ratios are 80% for residential mortgages and 75% for buy-to-let.
Dan Lowery
Director of Surveying

dlowery@romans.co.uk
020 8843 8210
Greg May, Director
flower IFA

gmay@flowerifa.co.uk
01344 753 172
Greg May
Peter Kavanagh
Mortgage valuations & new homes

  • Click here to watch Millgate Homes’ Managing Director David Simpson discussing valuations, the new build premium and Romans.
Peter Kavanagh, Managing Director
Professional Services

pkavanagh@romans.co.uk
01344 753 108
Romans Estate Agents Head Projects flower IFA
Boyer Planning Romans Surveyors Romans Surveyors

 

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