Manchester city centre in high demand as property investors steer clear of “deepest, darkest Salford”

by Charly United Kingdom Surrenden Invest

Manchester city centre population rises from 76 to 24,000 in two decades (Stockport Council)
In 2015 sold prices in Manchester City Centre increased by 7% (Rightmove)
NOMA and Spinningfields pegged as hottest city centre buy-to-let locations (Surrenden Invest)

Regeneration is a word that Mancunians are thoroughly familiar with. This June will mark the 20^th anniversary since a bomb set off by the provisional IRA wiped out half a mile of the city centre. Since then, billions of pounds have been spent on turning Manchester into the epitome of a 21^st century city, with outstanding results. The renovation of the city has transformed the housing market with sold prices in Manchester’s city centre increasing by 7% in 2015 alone according to the latest Rightmove data.

Eamonn Boylan, chief executive of Stockport Council, commented recently on Manchester’s city centre renaissance,

“Before [1996], Manchester was effectively depopulated by policy and planning – there were 76 people living in the city centre when I started. That’s 24,000 now, but 150,000 is the target.”

One of the largest aspects of the regeneration work was the overhaul of Manchester Victoria station, which reopened in October 2015. The £44 million refurbishment resulted in three new tracks and four new platforms, with large parts of the building almost entirely rebuilt.

The work on the station is representative of the approach taken to Manchester overall. Ambitious initiatives have sought to revamp entire areas, with NOMA (North Of Manchester, where Victoria station is located) becoming a particular hotspot. As improvements have taken place, demand for housing has shot up.

The success of this northwestern city, dubbed the Northern Powerhouse, has sparked a recent trend in investors, especially those from overseas, looking outside Manchester’s centre to the neighbouring area of Salford Quays.

Hoping to replicate the achievements of central Manchester’s property market, it seems many developers have focused their attention in and around Salford Quays, looking to capitalise on lower land values and the regeneration plans in place. This area however, some 20 minutes from Manchester city centre, it is yet to experience the same level of growth with prices of many apartments stagnating and rental incomes remaining flat due to the oversupply of units.

Jonathan Stephens, Managing Director of property consultancy Surrenden Invest, explains more,

“Manchester city centre now affords a number of hotspots where demand for high quality, contemporary homes has increased hugely. Savvy investors are keen to not venture too far out of the city centre boundaries and I would advise them to steer clear of deepest, darkest Salford.

“In comparison with city centre properties, developments in Salford will need to complete another cycle of some 7-10 years before witnessing real growth in both capital gain and yield. NOMA is a great example of the success of a city centre location – the area simply can’t build homes fast enough to keep up with demand from those looking to buy and rent in the area.”

The city’s regeneration continues to develop. Most recently, plans have been unveiled to create hundreds of hi-tech creative industry jobs as part of a £14m regeneration of Manchester’s Space TV and film centre. As jobs continue to be created by the large-scale redevelopment work, the city council is racing to keep up, having just revealed plans for an ambitions 10 year homebuilding strategy.

Those looking for homes sooner than 2026 would do well to focus on the area around Manchester Victoria station. Just a few streets away, Halo, on Simpson Street in the heart of the NOMA district enjoys a prime city centre location. The spacious, light-filled apartments will be ideal for those looking for upscale rental accommodation with excellent transport connections and easy access to the city centre. Completion of the 66 stylish one, two and three bedroom homes is estimated for Q2 2017, with investors enjoying projected 6.2% NET yields.

The other city centre hotspot right now so far as buy-to-let investors are concerned is Wilburn Wharf, home to the luxury, waterside Rivergate House development. Available for investment from £158,00 to £350,000, Rivergate House is just a short walk from the Spinningfields district, a major business and employment hub.

Spinningfields is another of Manchester’s success stories. It has been transformed from a region of dull, faceless office blocks into one of the city’s most vibrant and enterprising areas, all in the space of just a few years. Smart new office blocks jostle for attention alongside Michelin starred restaurants, sophisticated bars and beautifully landscaped green spaces. Naturally, the area has attracted some keen interest from those wishing to live in the heart of such urban elegance.

For further details, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.

Five ways that millennials are reshaping the UK housing sector

by Charly United Kingdom Tipi

As the UK’s millennials approach their prime spending years, the impact of their personal priorities is being seen across the economy. Their preference for experiences and lifestyle over possessions, including their firm position as part of ‘generation rent’ is creating a significant shift in the country’s housing sector. The first wave of this change is currently being seen across London, with the rest of the UK tipped to follow in the capital’s footsteps over the coming years.

According to the NatWest Millennials Home Buying Survey, 47% of millennials feel that they are in generation rent and 78% believe that the UK’s wider economic conditions have negatively affected their chances of becoming home owners.

However, rather than feeling despondent about their lack of home ownership prospects, many millennials are turning the situation to their advantage and instead demanding more from their rental accommodation.

Here are five ways that millennials are reshaping the UK housing sector:

1.Social spaces

In the US the trend has seen urban millennials seeking out smaller and more affordable private space, which is offset by large, shared social spaces. The trend has quickly leapt across the Atlantic and caught on in London, as exemplified by the capital’s brand new lifestyle-focused rental operator, Tipi.

The brand new one, two and three bedroom apartments within Tipi’s first two buildings, Montana and Dakota, are complemented by two spacious shared lounges and an outdoor terrace area, in addition to the development’s acre of gardens. Residents can relax in their own high spec, beautifully furnished apartments, or head to the lounges for company while they play a game of pool, watch Sky Sports or surf the net and make use of the freely available superfast 100 Mb/s broadband.

In January 2016 figures from Statista highlight the importance of socialising to millennials. They show that 51% stated that socialising was where their remaining disposable income was most likely to be spent. By providing in-house social areas, Tipi has helped to cut the cost of meeting this need to socialise for its residents. Offering social spaces with Sky Sports and a pool table together with furnished decking and an acre of private gardens has been a key attraction to our new customers.

2.Flexible contracts

Michael Allen, Head of PRS at Tipi, comments,

“Millennials’ spending power is huge and they are bringing a new dynamic to the private rented sector. As a group they want stability but also flexibility, so Tipi provides them with a long-term landlord that they can trust but with flexible contract terms. They can upsize and downsize with minimal hassle incurring no additional fees – and there are no agency fees to pay when it comes to taking up a contract as Tipi are not a lettings agency; we own, manage and lease our own apartments.”

3.Community focus

Millennials also want to be part of a community. At Tipi it’s not just the social spaces within the buildings that facilitate this. Tenants can also enjoy the vast array of services, clubs and activities available at Wembley Park, the home of Tipi.

The author, Micah Solomon observes this need for being part of a community in his book, ‘Your Customer Is The Star: How To Make Boomers, Millennials, And Everyone Else Love Your Business.’ He notes that millennials are more likely to shop and dine in groups than previous generations, making Tipi, which has London Designer Outlet with 50 high street shops and 20 restaurants and cafes just a stone’s throw away, the perfect base. Millennials are also more likely to travel on holiday in groups and with Heathrow and London City airports reachable in 45 minutes (and Gatwick in 65) from Wembley Park, this is an added attraction.

4.Love of technology

Millennials are also characterised by their fondness for using technology. They avoid human contact were self-service is a viable option, though paradoxically demand authentic, personalised customer service in other areas. This is also shaping services within the housing sector.

At Tipi, the My Tipi portal can be used to do everything from paying rent to arranging domestic cleaning and laundry services. At the same time, there’s the friendly Tipi team on site to provide true, personalised customer service whenever required not to mention the 24 hour concierge. It’s the perfect blend.

5.Keeping in shape

Tipi is also set to offer customers an on-site gym and cinema room, both of which are due to open later this year. Trainfitness recently surveyed 2,000 individuals regarding their gym habits, finding that 34.7% of those aged 18-34 currently have a gym membership. Significantly, 42.5% confessed that it was the cost that prevented them from joining, hence the value that Tipi has placed on including a gym that all residents are welcome to use for free.

Trainfitness also found that 11.7% of 18-34 year olds haven’t joined the gym as it is too far away, while 26.7% reported being demotivated by the weather and 20.1% by dark nights – all problems that an on-site gym is perfectly placed to resolve.

Just as it makes socialising and exercising more convenient, so too does Tipi support millennials’ needs in other ways. There are no agency fees for those who take up tenancies there. 40 Mb/s broadband is available as standard in every apartment and is included in the rent, as are most bills. This reduction in life admin is most certainly in tune with millennials’ requirements.

As this new generation gets ready for their prime spending years, it is hotel-inspired rental offerings such as Tipi that blend service with experience that are set to provide millennials with the urban lifestyle they are seeking.

Apartments at Tipi are priced from £1,650 pcm including broadband and utility bills, with no agency fees to pay.

For more information or to book a viewing with the Tipi team, visit www.tipi.london or call 020 3151 1927.

Newly launched show apartment reveals Wembley Park’s residential jewel

by Charly United Kingdom Quintain

Emerald Gardens located just 12 minutes from central London
Stylish apartments surrounding nearly 1 acre of landscaped gardens
Last few homes available, with prices from £399k

The newly launched on-site show apartment of Emerald Gardens at Wembley Park is showing just how stylish life in London can be. The show home is providing prospective buyers with the opportunity to be among the first to visit the site and steal a glimpse of the Emerald Gardens development in situ.

Officially opened by Quintain on Saturday 23 April, the new show apartment forms part of the Emerald Gardens phase of the major redevelopment that has been taking place at Wembley Park and which is creating one of London’s most attractive and desirable new neighbourhoods.

Emerald Gardens offers 284 private apartments spread across seven stunning buildings of up to six storeys and surrounded by nearly an acre of landscaped gardens. Many apartments enjoy views over the gardens or of the iconic Wembley Stadium* arch. The development has proven so popular that just 11 apartments remain available for sale.

The majority of the apartments at Emerald Gardens have their own private patio, balcony or terrace. The development includes a gym (opening autumn 2016), private cinema room and residents’ club room, as well as benefitting from a 24 hour concierge.

The newly launched show apartment offers the perfect introduction to life at Emerald Gardens. From the well-appointed exterior space to the delightfully spacious interior, the show home gives a true flavour of the style in which one can live at Wembley Park.

Paul Hogarth, Head of Residential Sales at Quintain, comments,

“We are really excited to be able to present such high quality residential accommodation in such a well-connected London location. The Emerald Gardens show apartment is our chance to let all those interested in living at Wembley Park see the standard of accommodation that the development affords. With the vast expanse of greenery running through the centre of the buildings, Emerald Gardens really does offer something unique to those living and working in the capital, which has certainly been reflected in how fast the apartments are being snapped up!”

Demand has been so strong that there are now less than a dozen apartments still available, making this the very last chance for buyers to purchase their dream home at Emerald Gardens.

Ideal for everyone from first time buyers to families looking for a welcoming community, Emerald Gardens is just 12 minutes on the Underground from central London and boasts a wide range of amenities in the local area, from weekly food markets and buzzing coffee shops to the extensive London Designer Outlet shopping and Cineworld cinema complex.

Those touring the new show apartment will note the care that has gone into the design, with careful planning ensuring that residents have a calm, open plan home that is perfect for contemporary London life.

Prices at Emerald Gardens start at £399,000. Buyers can move in from May 2016. Show apartment viewings are available on Saturdays at 1 pm, 2 pm and 3 pm, by appointment only with Savills.

For more information and to book a visit to the newly launched on-site show apartment, visit www.northwestvillage.com or call the on-site Savills sales team on +44 20 3151 8601.

* Wembley Stadium is the property of The FA Group and run by Wembley National Stadium Limited, a subsidiary of The Football Association.

Notes to editors

About Wembley Park @WembleyPark

Wembley Park is the development by Quintain which is transforming the 85-acre (34 hectare) area around Wembley Stadium and The SSE Arena, bringing new shopping, leisure facilities, homes and public spaces to create a major new destination and neighbourhood for London.

www.wembleypark.com

About Wembley Park New Homes @WembleyParkHome

The final phase of Emerald Gardens is now for sale. Set in nearly an acre of landscaped gardens, the 475 one, two and three bedroom apartments are spread across seven buildings. The development includes a gym (opening summer 2016), 24-hour concierge, private cinema and residents’ club room. The majority of apartments enjoy their own private patio, balcony or terrace. The first completions are due from May 2016.

Wembley Park Boulevard and Arena Square are some of the new public spaces open for visitors and residents to enjoy, along with a new all-weather playpark.

Wembley Park is extremely well connected with two overland train stations (nine minutes to Marylebone), two tube stations (20 minutes to the West End) and excellent road links to motorways including the M1, M40 and M25. There are also over 3,000 on-site parking spaces.

For further details, visit:

Emerald Gardens: www.northwestvillage.com or call the on-site Savills sales team on +44 20 3151 8601.

The sky’s the limit as new luxury student accommodation arrives in Durham

by Charly United Kingdom Collegiate AC

Dragon Court in Durham will provide students with superb facilities and unique features including a top floor Sky Lounge and roof terrace (Collegiate AC)
Group study areas, SONOS wireless speakers and SONY video conferencing as standard (Collegiate AC)
Available from August 2017 with students welcomed for the 2017/18 academic year (Collegiate AC)

A new, purpose built student accommodation offering is set to commence construction next month in the historic, University city of Durham. In close proximity to Durham’s largest college, St Hild and St Bede, this project will see the regeneration of Ernest Place, Dragonville, set to be an exciting transformation on the east side of the city.

Dragon Court is set to provide everything a student could want whilst providing a style and facilities akin to their future professional living requirements. Dragon Court will form part of the UK’s leading luxury student accommodation provider, Collegiate AC’s new Prestige Collection, and will offer its residents an array of 5* facilities including a Sky Lounge with stunning views across the city.

Working in partnership with luxury student accommodation developer, Studious Investment Management, this new chic five story building will comprise of 362 rooms with a selection of cluster, studio and premium studio apartments.

Once residents of Dragon Court, students will be able to take advantage of the top floor Sky Lounge and its stunning roof terrace with dining rooms that open onto the terrace, as well as a private gym, cinema rooms and several study areas designed to help with both individual and group assignments.

The exclusive dinner party rooms will also be available for booking, providing a separate venue for students to create their own gourmet dishes or enjoy a takeaway from their new local. From a lively evening with friends to a quiet catch up with visiting family members, residents will be able to use the area for a variety of events.

The development of Dragon Court will be a welcome addition to Durham’s urban landscape with the regeneration of the site breathing new life into the local area. Its prime location, close to transport links and amenities, will be ideal for students wanting to move easily around the city, and will allow local businesses to benefit from their new neighbours.

Heriberto Cuanalo, CEO of Collegiate AC, is delighted to be working alongside Studious Investment Management and the local community. He explains,

“Dragon Court will provide Durham’s students with a unique living experience, enabling them to make the most of their university careers both studiously and socially. The lifestyle-led apartments and social spaces have been beautifully designed to create an environment where students can feel safe and looked after. I am excited to witness the commencement of construction and look forward to welcoming the first residents.”

Working with a local team, including Greenwell Design, Kinetic Engineers and Turner & Townsend, the project is due for completion in August 2017, perfect for those students requiring housing for the 2017-2018 academic year. StudioUS Investment Management have advised that a show apartment will be available to view from November of this year, allowing potential residents to see the style of the building and gain a greater understanding of this new, lifestyle-led accommodation for themselves.

For more information, visit www.collegiate-ac.com or contact Collegiate AC on 01235 250 140.

Leading provider launches new accommodation that offers ‘VIP student experience’

by Kate United Kingdom Collegiate AC

Plummer House in Newcastle boasts drinks bar, 24-hour concierge, on-site cinema, private gym and games room (Collegiate AC)
A ‘cold room’ will take delivery of students’ online food shopping (Collegiate AC)
Range of accommodation that includes mezzanine apartments and a Presidential Suite (Collegiate AC)

A brand new student accommodation offering is launching in Newcastle, claiming to be the very best in the city and providing residents with a ‘VIP student experience’.

Setting a new standard for student accommodation, Plummer House forms part of the UK’s leading luxury student accommodation provider Collegiate AC’s new Fusion Students portfolio, and will boast facilities unlike any other. A chic in-house bar, with its very own ice machines, sound system and eye-catching décor, sets the tone for the property’s exciting and high-end living experience. This is set alongside luxurious facilities such as a private cinema, on-site gym and games room exclusively available for residents, enhancing the high-end student experience.

A 24-hour concierge team will attend to every whim and there is even a ‘cold room’ which will take delivery of students’ online food shopping if they are not home to receive it. Elegant and innovative, Plummer House will have high-speed broadband and Wi-Fi throughout, making both study and free-time for student residents easy and simple.

Secure electronic door entry adds, not only a sense of security and reassurance, but also to the 5-star feel that is central to Plummer House. The first-class facilities are accompanied by beautiful interiors that would not look out of place in the very best hotel which, whilst modern and design-led, also combine with ease with the stunning period features of the original Grade II listed building.

Famous for hosting Tilley’s tea dances in the ballroom, the original building was established in 1910, and key period features are set be central to the newly renovated and opened Plummer House. These include the beautiful original dance floor which will provide the foundations for the inspirational new common room, wooden panelling, elegant cornicing, and full-height sash windows.

Making the very most of the original high ceilings, many rooms will benefit from mezzanine levels and the wide variety of room types available range from individual studios to four-bedroom en-suites. Ensuring that there is something to suit each student and their individual circumstances, there is even a Presidential Suite for the truly discerning student!

Warren Rosenberg, Founder of Fusion Students, tells of the company’s excitement at launching Plummer House,

“Plummer House really is paving the way for a brand new level of living experience, not just in Newcastle, but for students in general. The lifestyle-led, exquisitely-designed apartments and social spaces are specially crafted with passion and attention to detail to encourage students to thrive in both their life and work.

“This is a truly bespoke project that marries seamlessly the unique and modern design with the original features of the early 20^th century building at its core. We are extremely proud to be able to offer this accommodation option to today’s students and look forward to welcoming the first residents to Plummer House.”

Ideally situated just 10 minutes from the University of Newcastle on Market Street in the city centre, Plummer House forms part of luxury student operator Collegiate AC’s, Fusion Collection and provides convenient access to the shops, cultural attractions and quayside area of this cosmopolitan city.

Priced from £20 per day, Collegiate AC is now taking booking for Plummer House and the property will welcome its first student residents in September.

For more information, visit www.collegiate-ac.com or contact Collegiate AC on 01235 250 140.

Sheffield United Football Club kicks off Overseas Property Show

by Charly United Kingdom World Ideal Homes Portugal

Overseas Property Show comes to Sheffield on 16 & 17th April
Direct flights to Portugal and Spain now available from Doncaster Sheffield airport
Free show tickets available at www.theoverseaspropertyshow.com

Sheffield residents are gearing up for the arrival of the much-anticipated Overseas Property Show this Spring, with the free to attend event kicking off at the Sheffield United Football Club on Saturday 16^th and Sunday 17^thApril.

The Overseas Property Show is one of the most respected shows in the industry and regularly tours the UK connecting buyers with their dream homes abroad.

Sheffield residents thinking of buying a second home will be pleased to hear that budget airline Flybe have just announced new flights from Doncaster Sheffield Airport from just £75.99 one way to Faro on Portugal’s Algarve. Alicante and Malaga in much loved Spain also have regular flights to and from the South Yorkshire airport so the Costa Blanca and Costa del Sol are also terrific choices for people considering a place in the sun.

The Overseas Property Show provides visitors with access to experts on buying and owning property in Portugal, Cyprus, Spain, Italy and the US. It is ideal for everyone, from those dreaming of owning property abroad to those with a string of holiday homes and rental properties, looking to add to their portfolio.

The free-to-attend Overseas Property Show includes everything from holiday apartments to retirement villas and primary residences, with experts on hand to answer questions and discuss the merits of buying in their country of expertise.

Tickets are free and available at www.theoverseaspropertyshow.com.

Chris White, Founding Director of boutique real estate agency and show exhibitor Ideal Homes Portugal, will be available with his team to talk buyers through the advantages of property ownership in Portugal and how they can pick up that dream second home in the sunshine. Chris comments,

“Many people dream of owning a home overseas, but are nervous of where to start. The Overseas Property Show provides the perfect resource for them, as well as an invaluable tool for those who already own overseas but want to purchase further properties or expand their portfolio into a new country.

“People want to own property overseas for all kinds of reasons, from straightforward holiday homes to rental businesses that generate an income. Many also want a dual purpose property that they can use for holidays or rent out initially, then retire to in the future. At the Overseas Property Show we cater for all these buyers and more, sharing our knowledge and offering top tips and insights into the joys of owning property overseas with confidence.”

All are welcome at the Overseas Property Show. The doors at the Sheffield United Football Club in Bramall Lane will open at 10.00 am and close at 6.00 pm on both 16^th and 17^th of April.

For further details and to claim your free tickets, visit www.theoverseaspropertyshow.com.

Broadband wars – make sure you’re not caught in the slow lane

by Charly United Kingdom Quintain

Wembley Park is the ONLY development in London that has FIBRE OPTIC CABLE running into each and every apartment
Wembley Park among the fastest domestically connected area in the UK
More than 500 homes in Wembley can already receive 100mb up and download speeds
34% of the UK still making do with sub 5Mbps speeds, while 23% make do with less than 3Mbps (uSwitch)

Wembley Park, located in North West London, is leading the UK in domestic broadband connectivity. In the Quintain developed residential apartments at the heart of Wembley Park, residents can have 100Mbps up and download speeds delivered by Velocity 1 from the day they move in.

Since 2008, happy home owners and tenants alike have been enjoying instantaneous web page downloads and access to HD films 24/7. It makes the new homes at Wembley Park among the fastest domestically connected area in the UK.

This has been achieved by running fibre cabling into every single apartment that it builds. Other providers install fibre to the basement and then run copper cables into apartments. Not so for Quintain who have gone one step further and pre-installed fibre from the Wembley Park based ISP directly into each of their homes – meaning that residents have access to this amazingly fast speed from the moment they step inside their new home.

Wembley Park resident Carrie Webster said: “Moving into a flat with Velocity1 broadband already wired in was great. This kind of speed is brilliant as well. I can stream films and surf the net at the same time and never worry about the connection dropping out.”

A recent uSwitch survey named the fastest UK street for broadband as Sandy Lane in Cannock, Staffordshire at 72Mbps and the slowest on Williamson Road in Romney Marsh, Kent at 0.54Mbps.

In the age of digital communication, people looking for a new home expect high speed internet but buyers should be very cautious before rushing to secure a deal as the internet is rife with stories of home owners being promised one thing and delivered another by broadband suppliers.

The market leading broadband speed from Velocity1 also positions Wembley Park to become a location for hi-tech businesses and financial companies dealing with large data volumes– as well as making it an attractive option for homemakers and homeworkers.

Tech companies and start-ups that have moved into the area have been delighted with the fast broadband connection available.

Ben Fillmore, MD of E-House, a tech-driven property company, said:

“Here [at Wembley Park] we can have a 100mb dedicated line, with the same upload and download speed, it’s enabled us to change our IT infrastructure to maximise new technology – including working in the cloud – which means we can really lead the market. We moved to Wembley Park quite recently and our staff love the community feel and facilities available here so it’s been a very positive move for us.”

Phillip Clapperton, of Velocity 1 which is providing the dedicated high speed broadband to the area, said: “It’s ideal for tech companies to be based here, but there is also an incredible benefit domestically. How many homes in the UK can get genuine 1gb broadband? At Wembley Park dozens of homes are currently being sold and all of them will have access to speeds from 100 mbs to 1gb.”

James Saunders, Chief Operating Officer of Quintain, the developer behind the revitalisation of Wembley Park said:

“From the outset we built a world-class fibre optic network into the infrastructure at Wembley Park. It’s fast becoming an essential utility for a wide range of businesses and residents. It powers high speed office internet, home working, free Wi-Fi across the site, broadband for our growing student population and even connectivity for mass online gaming events at the SSE Arena.”

If you would like to know more about property available at Wembley Park with these amazing broadband speeds talk to Savills on +44 20 3151 8601 or visit www.alto-apartments.com or http://www.northwestvillage.com/availability. Homes are available to move into this year or next dependent on your requirements.

*Velocity 1 is one of the only businesses in the UK to offer true Fibre to the Premises and Fibre to the Home in a full end-to-end fibre optic solution. This enables faster speeds over greater distances and symmetrical services (same speed upload and download). Velocity 1 ltd. is based in Wembley Park.

Brexit debate’s impact on FX rates already having knock on effect on overseas holiday home market

by Charly United Kingdom World easyMarkets

Opinion polls currently showing 52% of people in favour of Britain remaining in the EU (What UK Thinks)
Many UK buyers of overseas property adopting a ‘watch and wait’ approach (easyMarkets)
Changing FX rate can mean gaining or losing thousands of euros in a matter of days when buying a second home overseas (easyMarkets)

From UK-based business owners trading overseas to individual savers looking to purchase a second home abroad, all eyes are on the ‘Brexit’ debate when it comes to the potential impact on currency exchange rates.

Nikolas Xenofontos, Director of Risk Management at leading online trading services provider easyMarkets, explains,

“Brexit isn’t just about the impact that Britain leaving the EU could have on exchange rates in the event of an ‘out’ vote, it’s about the effect that the uncertainty around the whole process is already having on exchange rates. Sterling has already been influenced by the Brexit debate and will continue to be as the referendum approaches. There’s a real sense of caution afoot at the moment. We’re noticing everyone from holiday home buyers (or would-be buyers) to business owners is taking a ‘watch and wait’ approach and there are going to be some interesting market movements as 23 June approaches.”

The case of second home buyers is a particularly interesting one. Since the referendum’s announcement, sterling has weakened and recovered on more than one occasion as a direct result of Brexit developments. At the time of writing it is trading at levels seen before the announcement, reflecting a range-bound path that sterling is expected to maintain against its peers until a clear indication as to the outcome of the referendum is known.

A second home buyer who exchanged £200,000 for euros on 19/02/16, would have found himself with €258,906 to spend on his dream home overseas. However, had he made the exchange on 21/02/16, he would have had just €256,213: as loss of €2,693 in just two days.

“Brexit may have a big impact on the purchase of overseas property,” continues easyMarket’s Nikolas. “Many potential buyers are pausing their plans until later in the year, waiting to be certain of the outcome of the referendum before they go ahead and invest their capital in a second home abroad. Turbulent exchange rates and the uncertainty over factors like freedom of movement are likely to put the brakes on the overseas property market for the coming months, so far as UK buyers are concerned.”

Of course it won’t be a case of the market simply stalling until 23 June and then picking up again post-referendum. Some buyers will judge the likely outcome for themselves well in advance and act accordingly. Others will wait until the weeks before, when a clearer indication of the outcome can be predicted, although the UK’s 2015 election demonstrated that opinion polls don’t always get it right. Currently the What UK Thinks: EU Poll of Polls is showing 52% for the ‘remain’ camp and 48% for the ‘leave.’ The figures have moved no more than three percentage points further apart for the past six months.

In all likelihood, the anticipation of an exit vote would be likely to weaken the pound, while a predicted vote to remain in the EU would be expected to seriously strengthen sterling’s position across the board. In the meantime, all eyes will remain on the exchange rate as the referendum date approaches.

For further details visit www.easymarkets.com, email pr@easymarkets.com or call +44 203 1500 748.

Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd- CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Markets Pty Ltd -AFS license No. 246566).

Newly launched Quintessential to provide ‘prestige living’ management platform for PRS

by Kate United Kingdom Collegiate AC, Quintessential

The team behind Collegiate AC, the leading providers of luxury student accommodation in the UK, have announced the launch of a brand new PRS offering – Quintessential Apartments.

Providing ‘prestige living’, this dynamic private rented sector brand and operating platform will deliver a range of superior apartments to the market, setting fresh industry standards and offering a completely new way of living to residents.

Aiming to be situated in some of the key business hubs of both the UK and mainland Europe, Quintessential will provide luxurious city centre living environments for residents to make their homes.

Aimed at graduates and professionals who demand the very best in life, properties will boast beautiful and unique design features, both architecturally and interior-focussed, combined with unrivalled facilities.

The stunning accommodation itself will be supported by exceptional on-site service to meet residents’ demands with ease. Concierge services will be available round the clock and residents’ needs will be central to the provision.

Bringing their decade of experience in providing the very best student properties throughout the UK to the wider residential market, Collegiate AC understands the needs of the modern renter. They recognise the huge benefits of creating high-end individual residences alongside shared, communal living spaces, making for the ideal, seamless living environment.

Quintessential CEO, Heriberto Cuanalo, explains more,

“We are thrilled to be able to set a brand new standard of residential rental offering for discerning professionals throughout the UK through the launch of Quintessential. PRS is a hot topic right now as more and more people look to the sector for something different and more suited to the specific needs of those renting and therefore we are proud to be able to offer just that.

“Quintessential apartments provide the perfect blend of beauty and functionality, facilities and experience, individual living spaces and shared communal areas. It truly is prestige city living. We look forward to welcoming the first residents.”

For investors and developers, the operating platform will provide select access at the highest quality to this thriving new sector through partnership agreements with Quintessential.

For more information, visit www.quintessential-apartments.com or contact Quintessential on 01235 434391.

Budget 2016: Buy-to Let Reaction

by Kate United Kingdom Surrenden Invest

Jonathan Stephens, Managing Director of Surrenden Invest, the property consultancy that focuses on high-yielding buy-to-let investments, says,

“Today’s announcements by the Chancellor will have come as no real surprise to those looking to buy an investment property in coming months. George Osborne has maintained his earlier pledge on Stamp Duty, holding strong on the changes already announced, which in turn means that those investors with their fingers on the pulse will not have experienced any kind of real shock to the system today.

What it does mean, however, is that we are set to see an ever-increasing focus on the ‘Northern Powerhouse’ as the location of choice for investment properties. This Government focus on the North-West was highlighted further still today with the announcement of new road improvements in the region, along with a new tunnel linking Sheffield with Manchester. Giving the green light to the HS3 Manchester to Leeds line will also massively grow investment prospects in the Northern Powerhouse, improving transport links and high-speed travel. “I said we would build the Northern Powerhouse. We are making it a reality and rebalancing our country,” Osborne said and this can only be a good thing for those buying into the region.

This does mean that the focus is very much moving away from the capital. Having ‘London’ at the end of your address should be a license to print money but the current oversupply of new build property, combined with the turmoil in the overseas market, means that the London market overall is cooling – and fast. In fact, I predict that by Christmas new build stock in London will be down by 50%. Yet this is London as a whole. There are still areas, like Ilford for example, that remain undervalued and therefore savvy investors still keen to buy in the city should look to such locations that offer low entry points and decent rental income, combined with positive future Crossrail-impacted price growth.

Overall, I would say that this budget has confirmed that there is no better time to look north, however, with the dream buy-to-let conditions created for the Northern Powerhouse.”

For more information, visit www.surrendeninvest.com or contact Surrenden Invest on 0203 3726 499.

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