Expansion in the buy-to-let sector will slow this year, but landlords are unlikely to sell up, due to rental growth prospects and long-term ownership aspirations says new research from Savills. And, despite low net income yields - currently averaging 3.2% - two-thirds of buy-to-let investors are seeking to expand their portfolio in the medium term. The report finds that most investors have long-term hopes for profit, with buy-to-let forming an important part of many owners pension provisions. It also reveals that only 3% of investors hold less than a 10% equity stake in their portfolio, with 70% of owners of 20 or more properties holding equity of over 25%. It also claims that as many as 45% of investors are totally reliant on rental income to cover borrowing costs. For them, continued pressure on rents covering borrowing costs is unsustainable. On the other hand, investing in overseas property is perceived to be a more attractive way of diversifying property investment. Buy-to-let investors are thought to be quite savvy these days, according to the report. Many are aware of the opportunities to negotiate discounts on asking prices in the current market, particularly in the case of those who own a number of properties, Savills found.
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Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curvesAmid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
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Polluting water executives now face up to two years in prison, but will the new laws make much of a difference?The Government has announced that water company executives caught covering up illegal sewage spills could now be imprisoned for two years, under new laws — but many still have their doubts.
