cambridge residential
LOCAL INTELLIGENCE
SUMMER 2012
Welcome! Welcome to the first edition of Local Intelligence, our quarterly newsletter. Newsletters tend to be all about the people sending them, not the people receiving them. But we hope that you’ll find this one not just all about us and our agency, but also to update our landlord clients about things we think you need to know. We like to monitor how well we are performing in the market by recording and comparing our figures, so this is our opportunity to highlight some of these results to you.
OUR PERFORMANCE
4
%
If you have any questions or suggestions please get in touch, we are always ready to listen.
Cambridge Residential Now ARLA licensed Most people wouldn’t choose to appoint an unlicensed solicitor, yet with 60% of agents in Brighton & Hove not ARLA-licensed, some landlords, it seems are not quite so cautious when placing their lettings business. Cambridge Residential, on the other hand, are licenced members of ARLA, the only professional, self-regulating body specialising in raising and maintaining practice standards in lettings.
Why use an ARLA licensed Agent? • We will provide professional up to date advice & guidance • Your money is protected by a Client Money Protection Scheme • We follow a Code of Practice and Rules of Conduct laid down by ARLA. • We are required to have Professional Indemnity Insurance
Paddle Round the Pier 2012 is on! Cambridge Residential will be down at this year’s festival offering free drinks, fun and competitions for all. There will be the chance to win our fully managed service free for the first six months. Our stand has a beach theme this year so look out for us and join us for a glass of fizz and a chat.
At Cambridge Residential the average rent achieved in Q4 2011 was £947.12 compared to the average in Q4 2010 of £908.06, which is an increase of over 4%.
UP
Tom Ghibaldan, Director, Cambridge Residential
CAMBRIDGE NEWS
RENTS ARE RISING!
11
%
A RECORD NUMBER OF TENANTS HAVE REGISTERED WITH US THIS YEAR Business is growing at Cambridge Residential. We have registered over 8,000 applicants over the 12 months to April 2011, which has increased from the previous 12 months by 11% when we registered just over 7,200. Our fantastic new easy-to-use website and recently renovated premises continues to attract applicants.
JAN
FEB MAR
WE KEEPS FLATS FILLED! Cambridge Residential let the most properties in the whole Brighton & Hove area in January, February and March 2012 (selection of weeks taken) source: Vizzihome
1
st
We let the most properties out of all the agents in BN1, BN2, BN3. Source: Vizzihome (week ending 14th April 2012)
INDUSTRY NEWS HMO Licensing… Brighton and Hove recently opened up a consultation survey proposing changes to the current HMO Licensing. The proposed changes would effect any landlords letting property to three or more unrelated persons, and would likely have a wider ranging effect on a large percentage of landlords throughout the city. For more information about these onerous potential changes visit: www.brighton-hove.gov.uk (search for “HMO Licensing”)
MPs call for ‘build to let’ investors to be encouraged A committee of cross-party MPs has added its weight to the growing pressure for a new breed of property owners – ‘build to let’ developers. The Communities and Local Government select committee says big investors are needed to tackle the UK’s housing crisis, while acknowledging the part that smaller landlords play. The committee, has published its Financing of New Housing Supply report. It argues that institutions and pension funds ‘could make a significant contribution to the building of new homes in both the private and social rented sectors’, while real estate investment trust (REITS) ‘should be revamped to encourage investment in housing’.
Record number of letting agents join The Property Ombudsman The Property Ombudsman recently said that one-third of all letting offices in the UK still have yet to enroll in with them. The Property Ombudsman aim to increase standards across the lettings industry, by offering a redress scheme for landlords, tenants and agents if things go wrong. Rest assured Cambridge Residential have been enrolled with The Property Ombudsman for six years, proving again that we are committed to delivering the best possible service for our clients.
LOCAL NEWS Local residents in a spin over proposed wind farm
The Olympics torch relay come to town – 16th/17th July
E.ON are proposing a wind farm which would be located 13km off the Sussex coast at its nearest point, featuring up to 195 turbines. The site could generate enough electricity to supply the equivalent of around 450,000 homes. However, the proposal has caused a stir with some local residents who oppose the appearance of the wind farms, saying that it disrupts the sea views.
Brighton’s Yellowave centre are hosting an Olympic themed weekend on 15th July to mark the torch coming through Brighton & Hove and are hoping to host some beach volleyball training matches for the games.
Will this tower be a positive or negative for the city of Brighton & Hove? Let us know your thoughts: info@cambridge-residential.co.uk
SPOTLIGHT PROPERTY Shirley Drive
£2995.00pcm
LET
The Yellowave team are currently contacting teams from across the world to invite them to train at the venue in the few weeks prior to the London Olympics. Beach volleyball is one of the most expensive Olympic sports, with tickets for the final going for £450, so watching the teams at Yellowave would be a good alternative!
A truly unique renovation…. After 12 months of blood, sweat and tears, this property emerges as an exquisite family home located in Hove Park .
i360 – it’s happening?! After months of uncertainty over the proposed plans to build a viewing tower at the site of the West Pier, the scheme finally looks set to go ahead. The Coast to Capital Local Enterprise Partnership [LEP] has allocated over £14 million towards five projects with a total value in excess of £173m and will potentially provide over 2000 jobs. Brighton’s i360 was one of them. Will this tower be a positive or negative for the city of Brighton & Hove? Let us know your thoughts: info@cambridge-residential.co.uk
An exquisite modernisation of this five bedroom, four bathroom, detached family home with an outstanding reception & dining area, a stunning rear landscaped garden, under-floor heating throughout the ground floor and situated in a popular family area close to Hove Park and also benefiting from easy access to the A23/A27.
KEEP UP TO DATE WITH THE LATEST LOCAL AND INDUSTRY NEWS ON OUR WEBSITE: WWW.CAMBRIDGE-RESIDENTIAL.CO.UK