Service charge ruling welcomed by landlords

Service charge ruling will be welcomed by landlords. https://t.co/B91QewA4ZO @CMS_law pic.twitter.com/GFAjkEeQdt

— News on the Block (@newsontheblock) December 13, 2017

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What are residential service charges?

What are residential services charges? Savills Daniel Redmond explains 'In Plain English' on our blog: https://t.co/loK93ZAwBd pic.twitter.com/BM1UkkmzL1

— Savills (@Savills) November 1, 2017

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Southern property investors pile onto the North

Southern property investors are piling into northern cities according to report in the Sunday Times attracted by the low values and high yields.  Liverpool, Sunderland and Blackpool top the yield charts with 7%, 6.9% and 6.9% respectively.

A recent survey given to the Sunday Times shows 61% of investors buying in the north are based in London or the South.

Example of a property investor

The paper uses the example of Matthew Earl a 36 year old IT work who has used equity in his Streatham property to finance his northern portfolio which now numbers 10 properties in the likes of Chesterfield, Sheffield and Manchester.  He is attracted by the cash flow and favourable net rental yield of 4%.

All sounds familiar .....

Those of us who have been investing in property for a while recongnise the scenario of Londoners using their wealth into the north....will this bring about a property boom in our northern cities?  Probably not, unless the whole economy starts booming but it will help to support property values in the city and town centre apartment market.

One thing that landlords looking at investing in new apartments is the property management overcharging on the service charge.