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| E-Newsletter 8th August 2007 | ||||||
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My trip last week to Cyprus was very fruitful. I had a meeting with my development team, which included Constantinos, my architect, Cristos, my quantity surveyor and Yiannis, my project manager/civil engineer. We have managed to extract even more value from my forthcoming health spa resort by adding a large dance/aerobic studio and a seminar facility within the original costings. We have also added an outdoor aerobic and yoga exercise area. By adding additional facilities such as these, we are positioning the scheme to be attractive to various companies which run courses such as yoga, personal development, health and so on. We want to establish the resort as a preferred destination for course providers where on one site we can meet all of their needs. From a rental perspective, this adds a new and different dimension for investment buyers. Not only is the scheme attractive for families, couples, singles, medical tourists and golfers, it can also provide a very appealing venue, predominantly in the winter, for residential courses. If you wish to pre-register an interest in my new health spa scheme please send an e-mail with your telephone number to dominic@jet-to-let-magazine.com The scheme will be launched mid-September.  ANNOUNCEMENT - Jet to Let Magazine Conference Saturday 8th September 2007 Anton Lane, one of the UK’s leading international tax experts, will be speaking at the Jet to Let Conference in September. His presentation will examine how we can all minimise tax liabilities, which is a key determinant of our overall success as a property investor. For instance, if we make £100,000 from an investment and then pay 40% tax, we have £60,000 to be re-invested. However, if we only pay 10% tax, then we have £90,000 to be re-invested. Over say a 10 year period, this difference or gap in returns grows exponentially. Do we buy as an individual, joint names, SIPP, UK or overseas limited company, limited liability partnership……………………………………..??? In addition, we have Tony Taylor, a very successful property investor and leading mortgage advisor, showing us the tricks of his trade about raising finance for property investment and how to build a portfolio. Wendy Bundock will examine currency risk and show how to use movements in foreign currency to your advantage. I will look at how to make substantial returns by being smart with your cash, exciting markets around the world and also a developer’s perspective on what makes a market beating development project. Then networking with speakers and fellow investors in the bar. We have exceeded the capacity of the room we had booked for the Conference and have been fortunate to negotiate a larger capacity with our friends at the Hilton. But that’s it – once we hit the numbers here we will have to stop taking reservations. If you have yet to decide or have pencilled it in and not yet booked, I would urge you do so quickly. Looking at the list of attendees we have some very experienced and successful property investors and developers attending. It should be a cracking day. This type of conference, with the quality of expert speakers we have would normally cost anything above £500 per delegate. Your investment, which includes course notes and lunch, is only £97 plus VAT for one person or £149 plus VAT for 2. Book now by calling 0151 244 5444 and speak to Gina or Clare. Holidays Yes, I do take them! I will be away on holiday for a while hitting a golf ball very badly and reading the latest Bernard Cornwall Sharpe book, amongst other things. There will be minimal manning in Liverpool throughout August, but you will find someone on the end of a phone if you have a query or wish to have a chat. As a group we will hit the ground running hard from 1st September through to December. Activities for the 4th quarter are:
We have a number of reinforcements arriving after the holiday who I will introduce in the next e-newsletter. I wish you and your family a well deserved break if you are going away or simply chilling out at home. If you are not taking a break, then why not?
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Latest Property Investment News CML records rise in arrears The Council of Mortgage Lenders has published its half-yearly data on mortgage arrears and possessions. According to the report, the number of mortgages in arrears of three months or more at the end of June rose to an estimated 125,100, up 4% compared with the end of December but 3% lower than at the end of June 2006. Of these, the majority (71,800) were in arrears of 3-6 months, while 38,300 were in arrears of 6-12 months, and 15,000 more than 12 months. Around 1% of all mortgages were in arrears – this proportion has been stable at low levels for several years. Possessions have risen more sharply than arrears for the past two years. This is likely to reflect a number of factors, notably: Michael Coogan, CML director general, commented: “The sharp rise in repossessions in the first half of this year has been driven by a combination of factors, but the absolute number of repossessions is still low by historical standards. Source: CML House price growth is 'slowing' Halifax’s monthly price index has shown that house price growth has begun to decline. House prices increased by 0.7% in July. This is the fourth consecutive month that house prices have grown by less than 1.0%, confirming that house price inflation is slowing. House prices increased by 1.3% between April and July. This was the smallest three monthly rise – a good indicator of the underlying trend – since August 2006. The three monthly growth rate has fallen sharply in recent months, dropping from a high of 4.5% in March. Commenting, Martin Ellis, chief economist, said: "House prices increased by 0.7 per cent in July. This is the fourth consecutive month that house prices have risen by less than 1.0 per cent, confirming that house price inflation is slowing. We expect the downward trend in house price growth to continue as the five interest rate rises since last summer have an increasing impact on household spending and housing demand. Sound economic fundamentals, high levels of employment and a shortage in the number of properties available for sale, particularly in London and the South East, will, however, continue to support house prices." Mr Ellis concluded. According to data from the Bank of England, housing market activity has continued to ease. Mortgage approvals to fund house purchase in the three months to June (Q2) were 4% lower than in the preceding quarter. This continues the downward trend since last autumn with approvals in 2007 Q2 being 8% lower than in 2006 Q4. In addition to this, a report from The Royal Institute of Chartered Surveyors (RICS) has revealed that the level of new buyer interest in purchasing a house fell for the seventh successive month in June, indicating that potential buyers have become more cautious. Completed property sales also fell in 2007 Q2 and were 6% lower than a year ago. However, a healthy economy and strong labour market is likely to continue to underpin housing demand, for the foreseeable future at least. Source: Halifax
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