US wins 'property Ryder Cup': Property news update

Plus, television house prices, rent to buy yield hotspots, and thatch danger

Click to follow
The Independent Online

While Europe has once again won the Ryder Cup, a property-based version by Knight Frank indicates the reverse result.

"Both the US and European housing markets were left reeling from the credit crunch and sub-prime crisis in 2007/8 but the US and parts of Europe have rallied since," said Kate Everett-Allen, Partner, International Research at Knight Frank.

Using the place of birth for each player and the change in house prices since the last Ryder Cup in 2012, the analysis show a rise on average by just over 16 per cent for the US team, compared to Europe's 4.8 per cent.

According to Christian de Meillac, head of Knight Frank’s sales team in Spain and Portugal, demand for golf properties is very healthy

"The primary interest still comes from the UK," he said, "those who are seeking the best courses in the sunshine. We have seen growing interest from France, Scandinavia and the US. Buyers are willing to pay 10 to 20 per cent more for a front line golf property,even non golfers are willing to pay such a premium even if they are not avid players, because being on a golf course guarantees plenty of open space as well as largely protected views."

High yield buy-to-let hotspots

Sheffield heads the list of postcodes where buy-to-let developers have the potential to make the best profits on rental properties.

According to research by credit comparison site TotallyMoney.com (click to see their full map), Sheffield city centre (S1) with a yield of just over 11 per cent is followed by Aberdeen (AB24, and 10.4 per cent) and Bradford (BD1, and 9.1 per cent). At the bottom of the list is  South Kensington (SW7), with a buy-to-let yield of 1.56 per cent.

Overall, nine out of the 10 highest yielding postcode districts are in Scotland and the North/Midlands regions.

"Although property prices are rising faster in London than the rest of the UK, this growth rate has not been mirrored in rent prices," said Nigel Pocklington, CEO and of TotallyMoney.com. "Property investors looking for high yields on rental developments could see the best returns from northern cities or Scotland."

Thatch danger

Rural insurance specialist NFU Mutual is calling on owners of thatched properties to make essential checks following recent fires in thatched homes.

In particular, it is urging owners to ensure their chimney is swept by a registered chimney sweep and that the chimney is well maintained, particularly where it passes through the thatch.

Statistically a home with a thatched roof is not more likely to catch fire than a home with a conventional roof. However, if a thatched roof does ignite the fire is very difficult to control and the results can be devastating.

"Living beneath a thatched roof doesn't mean you can't enjoy the warmth of a real fire," said Nicki Whittaker from NFU Mutual, "but it is important homeowners exercise a degree of caution before lighting an open fire or wood-burning stove.:

Around 90 per cent of thatch fires relate to chimneys and the use of wood-burning stoves. In 2013, claims to NFU Mutual for thatched properties damaged or destroyed by fire totalled £3.5 million. 

Television house prices

How much would some of the best known homes from the small screen be worth today? Online estate agent eMoov.co.uk estimates, for example, that the 'Nelson Mandela House' flat belonging to the Trotters in Only Fools and Horses would be worth around £330,000 - the exterior shots were at Harlech Tower in Acton, not Peckham.

Harry Potter's Privet Drive home (actually a house in Picket Post Close, Bracknell) is now valued at £350,000, while the Boswell's terraced home in Liverpool in Bread (in Elswick Street) would be just £90,000. According to eMoov, the two bed flat belonging to the Men Behaving Badly in Ealing would be worth around £550,000.

Comments