Ro­mans’ fore­cast for the year ahead

Harefield Gazette - - UXBRIDGE PROPERTY -

LOOK­ING FOR­WARD:

The team at Ro­mans Uxbridge from left) Emma Pow­ell, Bradley Smith, Ja­cob Cross, Bobby Ma­lik and Re­becca Roberts.

LAST year was one of sur­prises. From Brexit to tax re­lief for land­lords, it proves you never re­ally know what the year ahead is go­ing to hold. How­ever, here’s how Ro­mans ex­pects the year to pan out.

Think­ing of buy­ing or sell­ing?

The signs in­di­cate that prop­erty prices and the num­ber of prop­erty sales will re­main steady through­out the year how­ever there are a few ar­eas lo­cally that Ro­mans be­lieve will buck the trend in 2017.

Ja­cob Cross, res­i­den­tial sales man­ager, at Ro­mans Uxbridge ex­plained: “Cross­rail is still go­ing to play a part in house price in­creases for the towns lo­cated along the El­iz­a­beth Line, with West Dray­ton, Burn­ham, Maiden­head and Read­ing hav­ing al­ready seen sig­nif­i­cant in­creases.

Read­ing has also been high­lighted as the UKs fastest grow­ing town, partly due to Cross­rail but also due to the con­tin­ued de­vel­op­ment in the town and its in­fra­struc­ture.

“The pro­por­tion of first-time buy­ers has in­creased and the National As­so­ci­a­tion of Es­tate Agents re­ported that in Oc­to­ber a third of all house sales were to first-time buy­ers.

“I don’t think this is solely down to the stamp duty sur­charge on in­vestors though, as there have been other in­cen­tives put in place by the gov­ern­ment like Help to Buy and New Buy which are mak­ing it eas­ier.

“We ex­pect this to con­tinue fu­elling the mar­ket this year,” added Ja­cob.

In­vest­ing or let­ting in 2017?

Keep­ing on top of let­tings leg­is­la­tion con­tin­ues to be an ever-mov­ing feast so Ro­mans would ex­pect no less from 2017.

Changes to tax re­lief and the ban­ning of ten­ant’s fees as an­nounced in the Au­tumn State­ment are likely to have an im­pact. Other changes we’re ex­pect­ing to see in­clude the cre­ation of the ‘Ren­ter’s Rights Bill’, ex­ten­sion of HMO li­cens­ing, manda­tory elec­tri­cal safety checks, a rogue land­lord’s and let­ting agent’s reg­is­ter and com­pul­sory client money pro­tec­tion.

Bradley Smith, let­tings man­ager at Ro­mans Uxbridge ex­plained:

“It will be even more vi­tal for land­lords to en­sure they are com­pletely up to date with all the leg­is­la­tion.

Hav­ing a re­li­able agent to take own­er­ship of that re­spon­si­bil­ity re­moves all the risk and sub­se­quently makes the job of be­ing a land­lord less stress­ful.”

Tak­ing into ac­count all of the above, whether you’re buy­ing, sell­ing or in­vest­ing, Ro­mans’ view is that this is still a mar­ket worth in­vest­ing in. Let’s watch this space!

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.