oneup, Author at One UK Properties

How will the latest 0.25% Bank Rate rise impact the UK property market?

Posted on 20/05/202320/05/2023 by oneup

The Bank of England has increased the Bank Rate to 4.5%.

The Bank Rate influences all other interest rates in the UK. Inflation is currently at high and the Bank of England needs to try to meet an inflation target of 2% set by the government.

Therefore, they will increase the Bank Rate when they want to soften demand, encouraging people to save money. This should slow the price inflation.

Will this affect the mortgage rate?

The consecutive rises in the rates since 2021 had a knock-on effect of mortgage rates to rise quickly to over 6% at the end of 2022, but since then they have fallen to the 4-5% range with little change. This is because Lenders have already priced in the further anticipated rate rises which means we expect mortgage rates to remain within this range over the rest of the year.

Also, with the cost-of-living rises and therefore fewer buyers in the market, lenders need to keep their rates competitive to attract new clients.

If you already have a mortgage on fixed rates, you will feel no immediate impact from a change in the Bank Rate.

Are house prices expected to drop further?

Predictions for house prices had also already priced in rate hikes so there is little change predicted with the new Bank Rate rise.

The initial news on inflation and rising interest rates last year already had a softening effect on the market and the market is predicted to remain steady by the end of 2023.

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If suddenly the economy collapsed at a high rate and unemployment increased, then prices would fall.

If you are thinking of buying, the attractive lower prices and the settled Mortgage rates should give you the incentive to go ahead.

As long as it’s the right property for you and you’ve considered your options, trying to predict property market trend timings is a big challenge and often an opportunity lost.

Will property prices rise faster inside or out of London?

Prices outside of London will increase at a faster rate than in London in the coming year because places like Birmingham and Manchester are holding up best. There is stronger demand from buyers in these areas along with a lot of regeneration going on in the cities, which gives rise to stronger property price growth.

Please contact us for a discussion on the market trends and where to invest in this climate.

Area Guide for Wood Green and Finsbury Park.

Posted on 11/05/202311/05/2023 by oneup

Wood Green and Finsbury Park

Wood Green and Finsbury Park are vibrant areas in the north of London, both located in the borough of Haringey. Each area has its own unique character and charm, with a range of attractions and amenities that make them popular destinations for locals and visitors alike.

Locations

Wood Green, London is a bustling commercial center, known for its shopping and entertainment options. The area is home to the popular shopping mall, The Mall Wood Green, which houses a range of high-street retailers and restaurants. Additionally, the area has a lively street market, Wood Green Market, which sells everything from fresh produce to household items. For entertainment, the area has the Alexandra Palace, a historic venue that hosts concerts, exhibitions, and sporting events. Another attraction is the Vue cinema, where visitors can catch the latest blockbusters.

Finsbury Park, London on the other hand, has a more relaxed atmosphere and is known for its green spaces. The area is centered around Finsbury Park, a large public park that offers a range of recreational activities, including a boating lake, tennis courts, and a skatepark. The park also hosts events throughout the year, including music festivals and outdoor cinema screenings. In addition to the park, the area has a vibrant food scene, with a range of cafes, restaurants, and pubs that offer a variety of cuisines.

Culture and History

For those interested in culture and history, both areas have a range of attractions to explore. Wood Green has the Museum of Brands, Packaging, and Advertising, which showcases the evolution of consumer culture from the Victorian era to the present day. Finsbury Park has the Park Theatre, a popular venue for independent theatre productions, as well as the Islington Museum, which tells the story of the borough’s rich history.

Transport

Transportation in both areas is excellent, with several tube and train stations connecting them to the rest of London. Wood Green is served by the Piccadilly line, which provides direct access to central London and Heathrow Airport. Finsbury Park is a major transport hub, with access to the Victoria and Piccadilly lines, as well as several overground train services.

Why Buy Property in Wood Green and Finsbury Park?

The property market in Wood Green and Finsbury Park is diverse, with a range of options available for buyers and renters. Prices in both areas have seen excellent growth over the past few years, with demand driven by their convenient location just a few minutes to the financial district and City of London and access to transportation.

Both areas have seen significant regeneration in recent years, with new developments offering a range of amenities and facilities such as gyms, communal spaces and concierge services. Furthermore, the growing demand for housing in these areas means that new properties can provide a solid investment opportunity for buyers.

7 Reasons to Buy a Property in Birmingham

Posted on 30/03/202330/03/2023 by oneup

Top 7 Reasons to Invest in Birmingham Property

Birmingham is the second largest city in the UK after London and is a bustling hub of commerce and culture. It has undergone significant regeneration in recent years, making it an attractive destination for property investment. Here are 7 reasons why Birmingham is a great place to invest in property:

Growing demand:

Birmingham is experiencing a growing demand for housing, both from locals and international students, as the city is home to five universities. With limited space and high demand, the city’s property market is showing strong signs of growth.

Affordability:

Despite being the second largest city in the UK, Birmingham remains affordable compared to other major cities like London and Manchester. This means investors can purchase property at a relatively low cost while enjoying good rental yields.

Transport infrastructure:

Birmingham’s central location makes it well-connected to other parts of the country. The city is home to the busiest train station outside of London, and Birmingham International Airport offers flights to destinations around the world. This connectivity makes it an attractive destination for both residents and businesses. With the creation of the HS2 railway line, Central London will be less than 45 minutes away.

Regeneration:

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Birmingham has undergone significant regeneration in recent years, with several major development projects such as the Bullring Shopping Centre and the new HS2 railway line. This regeneration has led to an increase in property prices and rental demand.

Strong economy:

Birmingham has a strong and diverse economy, with a significant presence in finance, banking, and professional services. The city also has a growing tech sector, with several startups and established companies choosing to base themselves in Birmingham.

Cultural attractions:

Birmingham has a rich history and a diverse culture, with plenty of museums, galleries, and cultural attractions. These attractions, combined with a growing food and drink scene, make it an attractive destination for tourists and residents alike.

Quality of Life:

Birmingham offers a high quality of life, with excellent healthcare, education, and leisure facilities. The city has a range of green spaces and parks, as well as numerous restaurants, bars, and cafes. Additionally, it is a relatively safe city, with low levels of crime compared to other major UK cities.

In summary, Birmingham’s growing demand, affordability, strong transport infrastructure, regeneration, strong economy, cultural attractions, and future prospects make it a great place to invest in property.

Area Guide to Poplar

Posted on 19/03/202321/03/2023 by oneup

Poplar, London

Poplar is a vibrant and diverse neighborhood located in the London Borough of Tower Hamlets, in the East End of London. Here’s a brief area guide to Poplar:

Housing:

Poplar has a mix of housing options, including high-rise apartments, and newer developments. The area is undergoing a lot of regeneration, so there are many new builds popping up. The area is home to some of the highest rental yields in London.

Transportation:

Poplar is well-connected to other parts of London via the Docklands Light Railway (DLR) and several bus routes. The A12 and A13 also run through the area.

Attractions:

Poplar is home to several notable attractions, including the iconic Tower Bridge and the historic St. Anne’s Limehouse Church. The Poplar Baths is also a popular spot for swimming and leisure activities.

Shopping and Dining:

There are plenty of local shops and markets in Poplar, including Chrisp Street Market, which is one of the oldest and largest markets in London. Poplar also has a diverse range of restaurants and cafes, serving everything from traditional British cuisine to international dishes.

Parks and Green Spaces:

Poplar has several parks and green spaces, including Bartlett Park and Langdon Park, which offer a range of sports facilities and outdoor activities.

Community and Culture:

Poplar has a strong sense of community, with many local events and activities taking place throughout the year. The area also has a rich cultural history, with many notable figures having lived and worked in Poplar over the years.

Why Buy Property in Poplar, London?

Buying a new property in Poplar can offer several advantages. Poplar is a rapidly developing area located in east London, which has undergone significant regeneration in recent years, making it an attractive investment opportunity. The area offers excellent transport links, including the DLR and Jubilee line, providing easy access to the rest of London.

New build properties in Poplar typically offer modern design features, high-quality finishes, and a range of amenities such as 24-hour concierge, gyms, and communal gardens. These properties can offer excellent value for money compared to properties in other parts of London, making them an ideal option for first-time buyers, young professionals, and families.

Poplar is also located close to Canary Wharf, one of London’s major financial districts, which can provide excellent employment opportunities for those working in finance, technology, and other industries.

Overall, buying a new property in Poplar can provide access to a desirable location, excellent transport links, potential for long-term growth in property values, and a range of modern amenities, making it an attractive investment opportunity.

Area Guide to Hendon and Brent

Posted on 19/03/202321/03/2023 by oneup

Hendon and Brent, London

Hendon is a suburban area in North West London, located in the London Borough of Barnet. Here’s a brief guide to the area:

Transportation:

Hendon is well-connected to the rest of London, with two Underground stations on the Northern line: Hendon Central and Colindale. The Thameslink rail service also runs through Hendon station, which connects to Luton Airport, Gatwick Airport and Brighton.

Shopping:

Brent Cross Shopping Centre which has scaled up and increased the number of shops within it is located just a few minutes’ drive from Hendon, offering a wide range of shops, restaurants and leisure facilities. Hendon also has its own high street with shops, supermarkets and local amenities.

Parks and Green Spaces:

Hendon Park is the largest park in the area, covering 12 hectares of land. The park features a playground, a café, a paddling pool and a sports ground. Sunny Hill Park is another popular green space, with a children’s playground and a tennis court. The Welsh Harp Reservoir supports a large selection of wetland birds and plants and is home to many water sports. New residential developments are being built along its shorelines.

Education:

Hendon is home to Middlesex University, which offers a range of undergraduate and postgraduate courses. There are also several primary and secondary schools in the area.

Culture and Entertainment:

The RAF Museum London is located in Hendon and features a collection of historic aircraft and exhibits. The area also has several cinemas, restaurants and bars.

Why Buy Property in Hendon and Brent?

Buying a new build property in Hendon and Brent can offer several benefits. Firstly, both areas are located in northwest London and offer excellent transport links to the rest of the city, making them ideal for commuters. They are also located close to several major airports, including Heathrow and Luton, which can be convenient for those who travel frequently.

Hendon and Brent are both undergoing significant regeneration, with new shops, restaurants, and entertainment venues being developed. This can provide potential for long-term growth in property values, making them attractive to investors.

New build properties in these areas typically offer modern design features, high-quality finishes, and a range of amenities such as 24-hour concierge, gyms, and communal gardens. These properties can offer excellent value for money compared to properties in other parts of London, making them an ideal option for first-time buyers, young professionals, and families.

Overall, buying a new build property in Hendon and Brent can provide access to a desirable location, excellent transport links, potential for long-term growth in property values, and a range of modern amenities, making it an attractive investment opportunity.

Area Guide to Wembley Park

Posted on 19/03/202321/03/2023 by oneup

Wembley Park, London

Wembley Park is a bustling area located in the northwest part of London, England. It is best known for being the location of the iconic Wembley Stadium, which has played host to some of the biggest sporting events and music concerts in the world.

Here’s a guide to some of the top things to do in Wembley Park:

Visit Wembley Stadium:

The most famous attraction in the area is undoubtedly Wembley Stadium, the home of English football. You can take a tour of the stadium to see behind the scenes and learn about the history of this iconic venue.

Explore London Designer Outlet:

Located right next to Wembley Stadium, London Designer Outlet offers a great shopping experience with over 50 stores, restaurants, and a cinema.

Take a walk in Fryent Country Park:

A short distance from Wembley Park, Fryent Country Park is a beautiful green space with lovely walking trails, picnic areas, and stunning views of the city.

Discover the Brent Reservoir:

Also known as the Welsh Harp, the Brent Reservoir is a large lake that offers a range of outdoor activities such as sailing, kayaking, fishing, and bird watching.

Go to the SSE Arena:

Another popular entertainment venue in the area is the SSE Arena, which has hosted some of the biggest music acts in the world.

Visit the Wembley Park Market:

The market is open every Sunday and offers a variety of street food, crafts, and vintage clothing stalls.

Try the local cuisine:

Wembley Park is home to a diverse range of restaurants serving food from all over the world, including Indian, Pakistani, and Middle Eastern cuisine.

Harry Potter Studio Tour:

Just a short drive away, you can visit the Harry Potter Studio Tour and explore the magic of the Harry Potter films.

Troubadour Wembley Park Theatre:

The Troubadour Wembley Park Theatre is a newly opened venue that offers a range of theatre productions, comedy shows, and live music performances.

Enjoy a drink at a rooftop bar:

Wembley Park is home to some amazing rooftop bars with stunning views of the stadium and the city skyline. Check out the Sky Bar at Hilton London Wembley or the Boxpark rooftop bar.

Why Buy New Build Apartments in Wembley Park?

Buying an apartment in Wembley Park can offer several advantages. Firstly, Wembley Park is a highly sought-after area, located in northwest London, with excellent transport links to the rest of the city. The area has recently undergone significant regeneration, with the development of new shops, restaurants, and entertainment venues, making it an attractive location for young professionals, families, and investors.

The area is also home to the world-famous Wembley Stadium, which hosts a range of sporting and cultural events throughout the year, providing residents with access to a variety of activities and entertainment options.

In terms of property, there are many new build apartments available in Wembley Park, offering modern design features, high-quality finishes, and a range of amenities such as 24-hour concierge, gyms, and communal gardens. These apartments can offer excellent value for money compared to properties in other parts of London, making them a popular choice for first-time buyers, investors, and those looking for a high-quality lifestyle in a desirable location.

Overall, buying an apartment in Wembley Park can provide access to a thriving community, excellent transport links, and a range of cultural and entertainment options, making it an attractive investment for many.