This Week in Property: The Latest News (5th November 2021)

Take a look at what our CEO Gill Fielding has to say about this week’s property news…

Filming Frenzy

I’m constantly bemused by how most people are affected by the lure of the googlebox or silver screen and I’m never more bemused when I read how much activity is generated for properties connected to – or nearby filming locations. So there’s been a 511% increase in property searches in Chadlington because Jeremy Clarkson has relocated there with a farm and café – and complete with expletives and abuse thrown in I guess. Likewise searches for rentals have increased by 54% in Soho as publicity has started for the thriller Last Night in Soho.  Now I know that searches are often just from people being nosey but many searches will lead to increased transactions and most probably increased prices and rents. Now I can’t imagine anything worse than living near a film set myself but if you’re lucky enough to already live there then when the cameras start to roll might be the best time to put your house up for sale for a premium price!

Creative Finance

I’ve just read a brilliant story about an American student who has paid off his student debt and managed to buy a house by getting an annual pass to his local theme Park, Six Flags near Los Angeles. The pass itself cost $150 per year and he bought one for 7 years because it gave him access to the park, parking there and free meals. So he bought the pass and ate there for two meals a day for SEVEN years to dramatically reduce his food bill. I’ve worked out that’s about 20 cents per email and I doubt you can eat cheaper than that anywhere! Now I manage he got a bit tired of the menu after a while but how creative is that? It just goes to show that if you have a clear objective and you really get focused on achieving it – then everything is possible. Now big desires need big action and clearly this young man was very determined and was prepared to pay the price for what he wanted. Good for him.

COP26 impacts investment

I’m watching all the news about the climate conference with interest. I’m a passionate supporter of the ‘green’ movement and want the world to change its ways to be more environmentally supportive. But on the other hand I’m also a property investor and I’m wondering if the two activities are mutually exclusive or if it’s possible to be both. I’m glad to say that figures just out suggest that I can be both green and an investor as Twenty Ci have published the research that a property with solar panels will command a premium of £80k (abut 21%) and a property with a heat pump with get £15.5k more. I’m delighted by that and the only issue seems to be that environmentally friendly properties take longer to sell and it takes an extra 22 days to sell a house with a heat pump for instance. So it takes longer but you get more and overall I’d rather wait a little and know that I’m not only getting a great return on my money but I’m helping the environment as well. Obviously we have a long way to go to get housing environmentally friendly overall with improved insulation, heating and building methods – but I’m positive that it will come and the price bonus just makes the incentive greater. Let’s go green!

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