Live in a former German Hospital in London
The German Hospital, Ritson Road, Hackney, E8 (pictured) was set up in the mid-19th century offering free treatment to German-speaking immigrants. During World War II the German staff were interned on the Isle of Man and English staff took it over before it became a general NHS hospital in 1948. It closed in 1987. A two double bedroom apartment in the property with open-plan kitchen and residents parking has just come on the market with Stirling Ackroyd at £499,950.
Tough start to 2013 for residential market in Britain
Latest research from provider of market intelligence for the Built Environment sector Barbour ABI suggests the value of contracts being awarded to build new homes and refurbish properties has plunged to its lowest level since 2010. The total level of contracts awarded in the residential sector is down 26% on the previous three months and 37% down on same period in 2012. Adam Valentine Group Content Director at Barbour ABI said: “New Government measures haven’t had much time to trickle through to the private housing sector and as a result the first quarter has failed to fulfil the promise that it would pull back the losses suffered in the public housing sector.”
Prime London growth
Property values in prime areas of London have increased by 2.8% in the past year, following a rise of 3.6% during the first three months of 2013, according to estate agent Marsh & Parsons. Interestingly, it is the areas of Non-Central Prime London – such as Battersea - that have had the most dramatic growth. Peter Rollings, CEO of Marsh & Parsons, said: “Homeowners have seen their equity soar as a result of significant price growth in the past few years. We are now seeing many of those seizing the opportunity to sell at prices that have recovered and in many cases exceeded the highs of 2007, and then re-invest in the same market, taking advantage of the historically low mortgage rates available due to the funding for lending scheme.”
Meanwhile, Cluttons have released figures suggesting homes in prime Central London are going up £383 per day. The best performing London region was Central North West, including St John’s Wood, Hampstead, Maida Vale, Regent’s Park and Highbury & Islington (4.5% growth). Sue Foxley, Head of Research at Cluttons, said: “Buyers are looking to the edge of core locations with good transport links such as Clapham, Highbury and Canary Wharf, which in turn are benefitting from upward pressure on prices.”
Station house in Roman Bridge: update
The fine folk from Arriva Trains Wales which operates services on the line of the route mentioned on the blog yesterday have been in touch to clarify that they operate 11 services a day through the station, all of which are request stops. If you need any further information or would like to visit the station, you can get tickets at www.arrivatrainswales.co.uk.
Advance rent not a deposit
The Court of Appeal decided this week that rent paid in advance does not count as a deposit (in the case of Johnson v Old), a decision that will bring relief to hundreds of landlords, according to Landlord Action. Paul Shamplina, Founder of Landlord Action, said: “We have almost 200 landlords who have been nervous about acting for possession. The outcome of this case is great news for landlords. They can now go ahead with confidence, knowing where they stand with the taking of deposits and the classification of advanced rent. A different outcome would have caused ambiguity, leaving a big question over the system.”
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