Rip off London – Concern grows as London renters pay £41 extra per month according to new figures

by Charlotte Ashton United Kingdom

Following a monthly rise of 0.9% to £1,047, London´s rents have reached a new high for the second month in a row according to the latest figures from LSL Property Services. Currently, London renters pay an average of £41 extra per month, a 4% increase compared to June 2011 and with rents around 80% higher than the rest of the UK, are London’s renters being “ripped off”?

Indeed, the proportion of people renting their homes privately across the UK has grown and is set to expand further, rising to 22% by 2025 with more than a third (36%) of households in London renting by this time according to a recent report commissioned by the Resolution Foundation and Shelter from Cambridge University. But while London landlords are seeing an average annual return on a rental property of around £1,166 according to David Brown, commercial director at LSL Property Services concern that London tenants are being “ripped off” in more ways than one is growing.

James Davis, CEO of expert lettings specialist Upad comments,

“Tenants complain of numerous problems in the UK rental market, particularly in London where rents are significantly higher than anywhere else in the UK. A big issue in the market is that rising rents have put significant pressure on tenants, with late or unpaid rent in June now standing at 9.2%, an increase from 8.9% in the previous month.

“Because we are set to become a nation of renters we decided to conduct a survey into the most pressing issue tenant’s face across Britain with a focus on London. Our findings highlighted some main factors including how lettings agents who traditionally have more control over London’s market are also contributing to the “rip off” with variable fees and significant up-front charges; an issue that was recently brought up by Labour’s Hilary Benn, who proclaimed that on letting agencies are “ripping off” landlords and tenants, charging varying fees for managing relationships between 1.4m landlords and their tenants.”

Upad surveyed 227 tenants across the UK asking a variety of questions relating to their concerns and whether they feel they were being “ripped off”. Asking the one million dollar question – “what is the most pressing issue for tenants nowadays?” Upad discovered that high deposits and getting them returned was one of the biggest factors with a proportion of tenants made to pay up to and beyond 12 months deposit.

Other issues included property maintenance, pets being allowed into the property and notice periods. However while these issues were also of concern to London tenants, this group also pointed to high rents, not finding suitable homes to live in and having to earn 2.5 times the annual rent as a minimum as problems affecting them. One London tenant explains:

“The size of my rent means that I can´t save any money to buy a house. I earn a decent wage, above the average but still have no chance in the next 3-5 years of saving for a deposit. Another issue is paying for poor quality housing at such a huge expense. In London you can pay extortionate prices for not very much at all. And, if this wasn’t enough, there are a number of lettings agencies who aren’t helping either. They can charge exceptionally high fees and contribute to rising rents by artificially inflating the market.”

With this is mind, an additional concern identified in the survey was the role that lettings agents play. On a national level, the findings revealed that while 73% rented property from a lettings agent 93% were concerned that they were being charged extortionate fees. On a similar note, 79% said that the level of service they received from their agent did not reflect the fees they paid with one disillusioned respondent explaining that they paid £444.00 for a very slow reference check.

Meanwhile, when asked how much they paid to move into their current property excluding rent and deposit, a number of tenants revealed that they paid up to a whopping £5,000 with 78% stating they had to pay an extra fee on top ranging from £100 to £800.

Speaking on the London rental market, one tenant commented:

“The rental market in London is ridiculous and moving in fees are uncalled for. The company that checked the previous tenant out 2 weeks before I moved in charged the landlord to move them out then charged me for a new itinerary! ”

Further research from Upad discovered that 40% of UK respondents said that not all the costs of renting were made clear by their agent. One disheartened tenant explained that they had not been made aware of the imposed check out fee or obligatory cleaning while another described that a further cost to provide tenancy agreements was not mentioned until after the agent had received £250 for an application fee.

With tenant demand increasing and rents rising, London tenants looking for a fair deal should look no further than the UK´s market leading online lettings agency, Upad. As one of the UKs largest and fastest growing letting agencies Upad specialise in helping professional tenants rent properties from landlords directly by allowing landlords to manage their own viewings.

Upad can find a property for tenants, charging them only £60 to cover referencing. Last year alone, 107,000 tenants asked Upad for help finding a home.  For more information please contact Upad, on 0333 240 1220 or visit www.upad.co.uk.

 

Building skills and improving lives: Socially responsible investment drives positive change in Nicaragua

by Charlotte Ashton Nicaragua

Ethical investments offer individuals the opportunity to place their money into projects that reflect their own personal ethics and morals. On this front, investors who have participated in EcoPlanet’s Bamboo plantations in Nicaragua will be pleased to know that the project is having an immensely positive impact on the local community.

Seeking to achieve sustainability by considering social, economic and environmental aspects, EcoPlanet Bamboo is committed to the development of a fully sustainable bamboo plantation. Now entering the second phase, the Rio Siquia bamboo plantation is flourishing, responding well to the use of organic fertilizers, using techniques such as vermiculture, the planting of nitrogen fixing plants and biogreen fertilizer. This has led to flourishing, healthy plants, nearing a year of age and without any detriment to the surrounding ecosystems or wildlife.

Of course, one of the biggest implications of the plantation is its positive effect on the local community. In addition to the 206 jobs that have been created, EcoPlanet Bamboo has begun offering training courses for their employees such as a 6 week bamboo workshop, where employees are trained in the art of bamboo construction, furniture and handicrafts. As well as this, reading and writing classes are also offered to all employees to help build skills and abilities among the local community.

Marcus Vassiliou Sales & Marketing Manager of EcoInvestments, the alternative investment company which sells investments in EcoPlanet Bamboo comments,

“Investing ethically can be extremely rewarding, both financially and for your conscience. It’s a great feeling to know that your money is being put to good use, improving lives in developing countries and having a beneficial impact on the environment. To push our social responsibility further, EcoPlanet Bamboo has been preparing the plantations for certification under the Forest Stewardship Council (FSC) where activities include: educating workers on their rights and environmental consciousness; marking the boundaries of conservation zones; using organic alternatives to control pests and fertilization and creating equal employment opportunities for local communities.

“EcoPlanet Bamboo is committed to building skills and improving lives. Not only have they helped 48 people become computer literate but they have increased the average annual wage of the community by 31%. Opportunity and equality is also important, that is why 31% of the plantation employees are female. The idea behind our training is that the learned skills are transferred from employees into the surrounding areas to create a thriving bamboo community through locally owned and run small businesses, which will fuel stagnant local economies.”

EcoPlanet Bamboo’s ethical policies, sustainable business practices and training programs mean they can offer socially responsible investment opportunities and by investing in green investments, such as the 8 year Bamboo Investment, investors help to drive positive social change while receiving an impressive financial return.

Offering annualised forecast returns of over 18%, socially conscious investors wanting to turn £11,042 into £27,053* uncapped as well as make a difference through the 8 year Bamboo Investment should contact EcoInvestments today on +44 20 3012 0306 or visit www.ecoinvestments.co.uk.

Property Inspector: How to become a landlord in less than 10 minutes

by Charlotte Ashton United Kingdom

TheMoveChannel.com´s Property Inspector, taking a closer look at global real estate.

With the 2012 Olympic Games a matter of days away, London rents have broken new records according to property group LSL. Monthly rents in the capital have risen for three months in a row to reach an average of £1,047.

But rents are up across the country too. In June, demand from tenants pushed the average monthly rate for England and Wales to just £2 short of the all-time high of £720 recorded last October. Now, according to one mortgage broker, 60 per cent of UK landlords are planning to expand their property portfolio within the next six months.

So how do you join in the lettings craze? In this month´s podcast, the Property Inspector interrogates James Davis, CEO of the UK´s largest online lettings agency Upad, to get the tricks of the buy-to-let trade.

Does a landlord need contents insurance? How much tax and paperwork is involved? How can your home stand out from the rental crowd? And once you´ve found a tenant, how can you tell if they´re serial killer?

Here´s how to become a landlord in less than 10 minutes:

Let´s say I´m looking to become a landlord for the first time. What kind of property or location should I be looking for?

"My advice would be to understand who your customer will be: if you´re looking at students, look at universities in the area, whether they´re looking to grow or not. You need to work out if there´s demand today and, more importantly, if there will be demand tomorrow. "

How much time goes into preparing a property to let? Is that something people tend to underestimate?

"It´s no good just thinking that once you have a property in an area with high demand, you´re done. It needs to attract tenants. One trick I´d recommend is being a tenant for a few days. Make some enquiries and go to look at the other properties in your target market. See what their price and quality is – and what you have to do to make sure your house is up to scratch."

Listen to the full investigation.

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com  and the office address is 45 Lafone Street, Shad Thames, London, SE1 2LX.

Contact Dan Johnson on 0207 952 7650 for further information.

Property Inspector image courtesy of Snowshot.

Forget Spain and France! Brits cash in on falling Euro and bag a bargain in Albania

by Charlotte Ashton Albania

Does the thought of traveling to the usual hotspots of Spain, Greece and France no longer appeal? If the desire to expand one’s horizons in search of ancient history, imposing mountains and calm blue waters seems more tempting than fighting for a square inch of beach to lay your towel on the Costa del Sol, the Adriatic nation of Albania might just make for the perfect summer destination this year.

Experiencing tropical temperatures of up to 40 degrees, Albania’s climate is second to none, boasting 200 days of sunshine a year which gently dazzles upon the nation’s 370km Adriatic coastline and striking mountainous landscape. It’s hardly surprising that Walks Worldwide, a leading UK trekking holiday organisation is expecting great success with their trip to The Mysterious South of Albania this September following last year’s success with the “Accursed Mountains” of northern Albania trek subsequently becoming their best-selling trip.

As one of the hottest emerging destinations with 4 million visitors last year, Albania’s appeal has increased steadily. Albania Holidays a leading Destination Management Company explains: “This year our company has increased co-operation with the UK growing our partner numbers twofold which has resulted in an increase in the number of organized UK travelers from 100 last year to around 300 this year. Consequently, we have seen a 10% increase of the total number of visitors who have booked with us compared to 2011.”

Meanwhile, for those who fall in love and want to return to this stunning Balkan land, potential property buyers will be pleased to know that the pound has strengthened to its strongest level since November 2008 against the Euro. With this in mind, buying an apartment or villa on one of the most exclusive beach communities in Albania, one that lists prices in Euros, could present a worthwhile opportunity for an excellent value for money purchase.

Robin Haynes, director of FX specialist Currency Index comments: “The ongoing Euro crisis has weakened the single currency, giving us the best rates for buying Euros since late 2008. Combined with falling property prices in much of Europe, this is giving Brits an opportunity to buy holiday homes at bargain prices. Nobody knows whether rates will continue up or come back down, but with the UK economy far from healthy, a lot of buyers are taking advantage and buying now in case exchange rates fall.”

Indeed, Albania offers some of the lowest prices and taxes across Europe and along with resilient economic growth over its other European counterparts in the south east region offers plenty of opportunity for property investors.
 

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s hotly tipped Adriatic coastline comments,

“Rising tourism levels founded on not only new regional transport infrastructure (road and air) and economic improvements but a greater awareness about what Albania has to offer in terms of beaches and scenery continues to increase demand not just for holidays but for accommodation. The weak euro has meant that we have seen an increase in potential UK buyers wanting to take advantage of the amazing value they can get on a €30,000 property at Lalzit Bay. We have seen a lot of interest from US buyers too which is encouraging.

“It is also important to point out the rental opportunities available at Lalzit Bay. We expect there to be strong rental demand based on the exclusivity of the resort, the facilities on offer and the quality of the finished properties. We have estimated that a 2 bed apartment costing €70,000 will generate rents of €500 per week over the peak summer months at 75% occupancy giving an annual gross rental income of €6,000 – that’s an overall rental yield of 8.57%.”

Lalzit Bay Resort and Spa offers a premium, exclusive product to investors who want the benefits of villa ownership including private gardens and terraces, exclusive services and more privacy as well as a range of facilities including private swimming pools, a BBQ area, tennis courts and superb restaurants for as little as €30,000.

For more information on the Adriatic’s secret jewel please contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

 

Landlord confidence in UK Buy-to-Let dips 9% according to leading lettings specialist

by Charlotte Ashton United Kingdom

A Private Rental Sector Health Check for June 2012 from leading lettings specialist Upad has revealed that there has been a 9% drop in confidence amongst UK buy-to-let landlords since April 2012.

Asking 500 UK landlords whether they were more or less confident about the buy-to-let market, the research highlighted a dip to 63% compared to April’s positive rate of 73%. The research marks a slight but still evident decline in confidence since April and has been attributed to various factors such as the availability of rental stock outside London, tenant inability to pay rent, LHA benefit cuts and difficulty getting sensible mortgages.

James Davis, CEO of leading lettings specialist Upad comments,

“The UK private rental sector overall has continued to perform well hence why the majority remain confident but that doesn’t mean that there aren’t areas for concern – the 9% dip in confidence highlights this.

“Even though London rents are up to 80% higher than the rest of the UK, the rental market here remains very strong simply due to supply and demand but when you look outside of London we see that the market has slowed. The Consumer Credit Counselling Service for example reported a 55% increase in the number of calls they receive from tenants unable to pay their rent, and around half of these callers claim unemployment as their reason for being unable to pay rent. This issue of affordability tends to be more focused outside the London market.

“As well as this, LHA cuts have made it unaffordable to rent to those on benefits while specialist buy-to-let mortgage products have declined. Indeed, the IMF has downgraded its forecast for UK growth putting it at just 0.2% this year – another reason perhaps for landlords to be a little unsure.”

Of course each landlord questioned in Upad’s survey had their own reasons for being less confident in June 2012. One landlord explained, “I am less confident this month. We have about 10 properties as far north as Cumbria and we are clinging onto our tenants in these areas.  Most of these tenants are on housing benefit and we have to wait for payments now more so than ever – some are struggling and we are not getting the full rent each month. However, by stark contrast we have about six properties in the London area and these have always been “easy” lets. We seldom have any issues here.”

Meanwhile another landlord commented: “I registered as less confident because wages are stagnant or reducing, living costs are high, and tenants are negotiating rents down wherever possible. There are also fewer investment mortgage deals in the market than there were in 2007, making it much tougher for landlords to find the right deal.”

In spite of concerns, the majority of respondents in Upad’s survey registered a positive attitude towards the UK buy-to-let market. James Davis explains: “Indeed, rising tenant demand coupled with an overall lack of housing stock, caused in part by a shortage of new properties being developed has helped push rental yields higher and therefore improved confidence.”

Landlords looking for an innovative new way to do business and secure the right tenants should look no further than the UK´s market leading lettings specialist, Upad. As one of the UKs largest and fastest growing letting agencies Upad concentrate on helping professional tenants rent properties from landlords directly by allowing landlords to manage their own viewings. Last year alone, 107,000 tenants asked Upad for help finding a home.

Upad’s tenant-finding services start from just £99 + VAT per property. For more information please contact lettings experts Upad, on 0333 240 1220 or visit www.upad.co.uk.
 

Investment Watch: Lost in La Manga

by Charlotte Ashton United Kingdom

Investors were lost in La Manga last month, according to TheMoveChannel.com’s Investment Watch.

The report, which charts the levels of interest in the overseas portal’s property listings, found that buyers could not escape the Murcia resort in June, with apartments in Las Lomas Village receiving the highest number of enquiries on the site.

The Spanish flats, offered with up to 100% finance directly from the bank, promised owners a share of the village’s rental revenue as well as 30 days’ free usage per year – a combination that generated over six times the number of enquiries than TheMoveChannel.com’s second most popular listing: a group of coastal apartments in Cornwall.

Indeed, as summer set in, investors appeared to leave behind their springtime dabbling in alternative investment and return to the bricks-and-mortar basics of the seaside rental. The Cornish development boasted high yields and a short walk to the beachfront, a mixture offered by six of the 10 most popular properties on the site.

The only listings to buck the beachfront trend were tenanted flats in Leeds, a room in Maidstone’s Russell Hotel, an Istanbul city centre apartment and an undeveloped plot of land in the Cayman Islands. But Las Lomas outclassed all of their rental yields, proving that Spanish property can still attract buyers despite ongoing eurozone concerns. In fact, the apartments received more enquiries than the rest of the top 10 put together – the first time that has happened since Investment Watch reports began one year ago.

Director Dan Johnson comments: “Seaside apartments are a classic example of a property that combines lifestyle appeal and commercial returns, so it’s no surprise that they’ve had such a huge response during England’s rainy summer. Still, with investors torn between rival rates of return, Las Lomas had to have something distinctive to set it out from the coastal lettings crowd. Was it the location? Murcia’s investment potential has been boosted by the upcoming Paramount theme park and international airport. The facilities? Lots of the other resorts in the top 10 offer several weeks’ free usage, but Las Lomas also includes a one-year membership to La Manga’s prestigious sports club. Whichever was the deciding factor, there are certainly worst places for buyers to get lost than La Manga – and after investing in one of the flats for myself last month, I’m glad I’m not the only one who thinks so!”

The Top 10 investment properties for June 2012 are as follows:

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 24 Jack’s Place, Corbet Place, Spitalfields, London, E1 6NN.

 

How to build client relationships through the power of blogging

by Charlotte Ashton United Kingdom

Once upon a time, blogging was seen as just a hobby, a way that people could express their personal feelings on topics they cared about but in today’s media landscape blogging has taken on a bigger role, becoming one of the most important and cost effective ways for companies to promote their brand.

It is estimated that there are now over 200 million public blogs in existence and unlike other social media platforms such as Twitter and Facebook; published content on a blog can be far superior. On a corporate level, blogs humanise a company, educate clients, aid meaningful social interaction and separate brands from competitors and when it comes to the property industry, one that is fiercely competitive and relatively unpredictable, blogs can hold great power in achieving effective results.

Nigel Lewis, renowned property journalist and editor as well as prolific blogger for FindaProperty.com comments,

“Many people and businesses shy away from blogging because it’s a time consuming and a creatively taxing process, often opting for the seemingly obvious routes of Facebook and Twitter but in my view they are missing a substantial opportunity to get their website higher up in Google’s results rankings as well as attracting an audience that would otherwise would pass them by.

“Blogs are a win-win from several perspectives. Firstly, it is the easiest way to publish content regularly with free and easy to set up services such as WordPress and Blogger. As well as this, blogs are also more likely to be trusted by users because they have an ‘editorial’ look and feel to them compared to more traditional website content or posted press releases. Another point to remember is that good content will attract readers on a long term basis and create an informal but strong bond that can be difficult to otherwise generate. Lastly, remember that blogs have a lot of social potential where readers can post their reactions to your entries allowing you to gain greater insight into your audience.

“But be warned – blogs also need a lot of thought and hard work to make them successful. All of the advantages of blogs come to nothing if the content is dull, copy-cat or infrequent. I would suggest a minimum blogging rate of once a week, and that the content needs to have at least an element of exclusivity – republishing in-house or third party press releases more or less verbatim (as many people do) is almost pointless. You want people to read your blog regularly because it’s interesting and offers a new perspective on (or information about) a subject.”

In spite of the obvious advantages, research conducted by The Group has discovered that only 16% of FTSE100 companies have a corporate blog, compared to 73% using Twitter and 55% using Facebook.

Ray Withers, Chief Executive of leading property investment company Property Frontiers, client of AB Property Marketing and avid blogger remarks,

“Blogging is an essential component of our social media strategy and has really helped build our company brand. We wanted a different way to communicate with our clients and by creating what is essentially a company diary of news, market comment and activities, our clients have built a greater awareness of who we are and what we’re about. To give some insight into how well our blog has done, we receive on average 500 blog visitors each month with 32% returning month on month. As a result, not only do our clients know us better but they trust us – you can’t put a price on that!”

For more information on the power of blogging and social media, a service which AB Property Marketing offers exclusively for the property industry contact Charlotte Ashton on 0845 054 7542 via Twitter, Facebook, LinkedIn or at www.abpropertymarketing.co.uk

With only 2 weeks to go, “there’s still huge potential in renting your home to Olympic visitors” says leading lettings specialist

by Charlotte Ashton United Kingdom

With only 2 weeks to go until the long awaited Summer Olympic Games, there’s still time for London homeowners to cash in on the estimated arrival of 11 million sporting fans, athletes and sponsors over the next two months.

James Davis, CEO of leading lettings specialist, Upad comments,

“At present hotels in London are charging high fees for those looking for accommodation during the Games with hotels in the Stratford area commanding up to £250 per night but with demand outstripping supply, more and more property owners and landlords have decided to capitalise on the shortage. And, even though the Olympics is just around the corner, I don’t think it is too late for landlords to offer up their properties given the fact that there will always be a surge of last-minute Olympic visitors looking for a place to rent.

“Indeed, an Olympic rental property in Covent Garden has recently become the most expensive let in the world, charging £115,000 per week and while the average Joe would not be able to command such a high price, there is still is huge potential in offering up your home to Olympic visitors as long as prices aren’t too crazy.”

UK landlords are faring pretty well right now. The market is currently booming with an increase of 6.34% in the number of rental properties advertised in the UK in Q1 2012, with 35,789 new rental homes on the market in London over the same time period according to the Movers Index published by Experian a leading global information company. However, given the general increase in demand for rental property from UK tenants who cannot afford to buy, landlords have also been benefitting from the vast opportunities for short-term lets during the Olympic Games, providing a further boost to the rental market.

For homeowners contemplating letting their properties during the 2012 Games, the team at Upad have launched a new dedicated Olympic lettings service for £199 + VAT.

For this flat fee Upad will advertise your property on Rightmove, FindaProperty, Zoopla, Gumtree and many more property websites for as long as it takes to secure your guests. You will receive applicant’s details and speak to them directly to arrange terms. Upad will help you to write a great description and even visit the property to take professional photos if you really want to achieve top dollar on your Olympic let.

With only 2 weeks to go until all eyes will be on London, act fast and contact the experts at Upad today on 0333 240 1220 or visit www.upad.co.uk for more information on the new dedicated Olympic lettings service for £199 + VAT.
 

Infographic – At a Glance: Germany

by Charlotte Ashton Germany

Berlin is the big boy in Germany´s property market, according to the latest At A Glance infographic from TheMoveChannel.com. The infographic, based on activity on the property portal over the last 12 months, shows that over half of buyers looking for property in Germany head straight to the capital city state.

Berlin dominated demand from investors, taking over 55.38 per cent of enquiries for German real estate on the site between July 2011 and June 2012. Saxony was the second most popular region, accounting for 21.09 per cent of enquiries.

Together, the two areas outpaced the rest of the country, accounting for over three-quarters of buyer enquiries. Indeed, the closest contender was third-place Bremen, which only took 5.96 per cent of enquiries in the last year; not even one-tenth of Berlin´s total.

The capital also leads the way for location searches on the site, with 41.19 per cent of buyers beginning their hunt by looking for real estate in Berlin. Given the popularity of Saxony property, it is no surprise that the region´s two biggest cities, Leipzig and Dresden, are in the top 10 searched-for locations too. Indeed, Leipzig accounted for 9.62 per cent of searches, the second highest after Berlin. Together, these top two locations were the target of over half of German-based searches on the site.

The At a Glance series also analyses property buyers´ search behaviour on Google over the last 12 months. The period between June and August is when buyer activity visibly peaks, but the infographic reveals a striking preference for "villas for sale in Germany" and "apartments for sale in Germany"; a rare instance of when houses are the not the most popular type of property in a European country.

Indeed, "houses for sale in Germany" featured in almost no Google searches at all over the last year, with investors more keen to locate "holiday homes" instead. Nonetheless, apartments and villas proved far more popular, consistently generating over twice as many enquiries as holiday homes.

Editor Ivan Radford comments: "Like many of the traditional lifestyle destinations, Germany´s property market appears driven by a core group of regions. This gives the impression of a vacation-driven market, something supported by the number of Google searches for holiday homes. With the eurozone crisis spreading uncertainty through more familiar countries, are people turning to Germany´s stable economy for their second homes? Or are they looking for a real estate investment with a more reliable return? The number of tourist hotspots, such as Frankfurt and Stuttgart, in the top 10 searched-for cities could suggest either, but it´s easy to see that Berlin´s strong property market is beneficial for both types of buyers.

"It´s no surprise, then, to see the capital far out in front across the chart. Indeed, the high number of enquiries within the city state suggests that investors are not only looking specifically for property in Berlin – but more importantly, that they´re finding what they´re looking for."

Click here to see the full infographic.

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.themovechannel.com and the office address is 24 Jack´s Place, Corbet Place, Spitalfields, London, E1 6NN.

Contact Dan Johnson on 0207 952 7650 for further information.

 

UK investors urged to act quickly before 23% drop in solar Feed-in Tariffs

by Charlotte Ashton United Kingdom

Both homeowners and investors alike, interested in installing photovoltaic (PV) solar panels to UK rooftops should act quickly to take advantage of the higher government-backed Feed-in Tariff (FiT) before it is slashed by 23% at the end of July 2012.

As of the beginning of August the tariff for PV units under 5kW drops considerably from the current 21p/kWh to 16p/kWh and the length of this fixed incentive will fall from 25 to 20 years. This latest change will be the third to affect FiT’s in little over a year with the new rate of 16p/kWh less than half the amount paid to households when the FiT was first introduced in 2011.

Commenting on the impending FiT drop, Marcus Vassiliou, Sales & Marketing Manager of alternative investment company, EcoInvestments, says,

“As the deadline approaches, there is indeed pressure to install PV panels quickly in order to secure the higher FiT rate but even with just a few weeks to go, investors shouldn’t feel that they have missed the boat. We have in place, a number of PV systems already installed in prime locations across Devon and Cornwall, the sunniest parts of the UK and investors can fully expect to still enjoy net returns starting at a healthy 9.5%, fixed to rise with inflation over the next 25 years.”

Despite the planned FiT cut, appetite within the UK for solar panel installations remains on the rise according to The Solar Trade Organisation. In the week ending 3rd June 2012, some 1,788 solar installations were completed according to provisional figures from the Department of Energy and Climate Change and planning permission has just been granted for the UK’s largest solar farm covering some 125 acres of disused land in Oxfordshire which via 120,000 PV panels will generate 27MW of electricity, enough to power 6,500 homes.

As Marcus Vassiliou comments,

“The UK as a whole has been very responsive to government drives to increase renewable electricity production through solar PV panels. Investors can benefit from near double-digit regular returns from modest outlays, with the security of knowing their investment is pegged to inflation.”

With investment in solar PV panels available from £8,000 for a 4kW system, contact EcoInvestments today on + 44 (0) 20 3012 0306 or visit www.ecoinvestments.co.uk to find out how you can take advantage of the higher rate government-back FiT tariff before it is cut at the end of July.