Glasgow Rental Yields Outperform the UK

According to recent research from Sourced Capital, Scotland offers the best buy-to-let yield in the UK at 5.8% with Glasgow offering 7.8% on average.

England averages at 4.1%, with the best yields in the North East at 4.9%. Northern Ireland offers an average yield of 5.4%, with Wales having the worst yields, at just 3.6%.

Last year, Brexit uncertainty and an upcoming General Election causing economic uncertainty has caused house price growth to slow or stagnate in much of the UK – although Scotland outperformed the rest of the UK in terms of house price growth with strong figures in both Glasgow and Edinburgh.

However, we are now seeing a house price bounce which started late last year and the market is once again on the up with a very busy start to the year. Both Zoopla and Rightmove saw a flurry of activity and the introduction of the First Home Fund also gave the first-time-buyer market a boost.

Now is a great time to invest in property before prices regain momentum and the returns start to tighten. Mortgages are also still very affordable with some highly competitive deals available.

We have two developments available in Glasgow – Laurieston Living with properties still available and Pollokshaws Living which has just launched with prices starting at just £160,000.

These offer excellent investment opportunities especially as the cost of buy-to-let mortgages is falling year-on-year. Four years ago saw the introduction of the 3% surcharge for second properties, and so many landlords are coming to the end of their existing deal and finding the mortgage market extremely competitive.

Flowers & Crops to Plant in February

One of the great things about moving into a brand new home is that your garden will be a blank canvas ready for you to make your mark. You can make it as maintenance friendly as you like – or perhaps you have green fingers and love nothing more than tending to a garden and growing your own fruit and veg.

February is a great time to sow seeds for early crops and summer blooms so you can enjoy your outside space in the coming months. If you have a small terrace, balcony or even just a space at your front door you can still plant some flowers to bloom to brighten up your home for spring and summer.

Although this month can be a cold, wet month with the chance of snow, it’s still a great time to plant seeds and bulbs.

Crops

City centre or out in the country, planting crops is a great way to get the children involved and help them to become excited about eating food they have grown themselves. Certain types of radish, lettuce and salad onions can be sewn this month – kept covered – by sewing them thinly and covering with dry soil. This will produce lovely salad leaves relatively quickly so long as they are protected from frost and snow. Shallots and garlic can also be planted this month – plant them around 15cm apart and 5cm deep.

Peas can be planted in plastic guttering with holes drilled in the bottom – sow them around 5cm apart and 2.5cm deep, water well and place on a windowsill or porch and when you see the leaves plant them outside.

If you want to help the bees, consider some bee-friendly annuals like Calendula and Borage. You can also consider planting cornflowers. Fill trays with seed-sowing compost to within a quarter of an inch from the top – make sure you water the soil well and distribute the seeds thinly over the surface, covering them lightly with more compost.

There are also some hardy crops that can be sown outside, but you’ll need to protect them with a fleece on cold nights! Try Kale, carrots, parsnips and turnips.

Love Lilies?

Lilies are loved by many and always a popular choice when buying cut flowers. They look and smell beautiful and can be planted any time from autumn to spring in rich, well drained soil. They are also suitable for containers which can be placed wherever you want to create a vibrant display in the summer months.

More than half of all homes bought with a mortgage in 2019 were bought by first-time buyers, a 12 year high, according to encouraging figures that suggest that getting onto the property ladder is becoming more accessible. The figures published by Yorkshire Building Society record an estimated 353, 436 people bought their first homes in the UK in 2019, the highest figure since the financial crash in 2007. Pre-financial crash figures for first time buyers in 2006 sat at just over 400,000 compared to just 191, 040 in the immediate aftermath in 2008.

Accessible mortgages and lower deposits

A combination of factors is thought to have helped the recovery of the first-time buyer market in more recent years. Firstly, banks have been able to slowly offer more accessible mortgage deals, with many now promoting 95% mortgages which ask for much lower deposits. There has also been an increase in the availability of longer term mortgages, of up to 40 years, which reduces the monthly repayment cost and again boosts affordability for those looking to get on the ladder. Government backed schemes have also been taken up by many looking to buy, such as Help to Buy schemes and Help to Buy ISAs, as well as new measures such as stamp duty relief on properties under £300,000.

The areas with the most first time buyer purchases were London and the South East, despite remaining some of the most expensive areas in the country to buy. For example, first time buyers accounted for 60% of all house purchases with a mortgage in London in 2019, despite buyers having to find an average deposit of £131,000.

First time buyer numbers are stable

However, it is worth noting that first time buyer figures have remained relatively stable over the past few years, showing only a small increase in a few hundred (from 353,130 in 2018), with some experts suggesting that these figures may be flattening out due to general affordability constraints as well as lack of housing stock across the country. In addition, property prices have risen faster than wages in recent years, meaning people on the whole will still find it tough to put enough aside for a deposit, earn enough to satisfy mortgage criteria or find affordable housing options local to them.

It’s good to acknowledge the balanced picture – though it still remains a challenge to buy, aspiring first time buyers should be bolstered by these figures that show recovery close to pre-crash levels, take confidence from the fact that banks are trusting in the market again and, as a result, are offering more affordable mortgage deals for those just starting out.

If you are a first time buyer and looking to get onto the property ladder talk to us at Urban Union – the Help to Buy and First Home Fund schemes are available.

Moving Home

Moving home is a stressful time and it’s easy to forget everything you need to do. That’s why we have put together this short guide to remind you of the main things that you need to do before you can relax and settle into your new home!

Once you have the keys and have moved in, there are lots of things that you need to do to make the transition as smooth and stress-free as possible.

Postal Redirect

It’s easy to forget to redirect your post, but it’s essential you do this well in advance as it can take some time to set up and verify before your post is redirected. Make sure you get this redirected for a decent amount of time remembering that some companies will only send an annual summary or statement. You have to pay a fee for the service but it’s invaluable when you can’t remember all of the organisations that need your new details.

Television licence

If you have already paid for your TV Licence then you can transfer it to your new address. If you need a new licence consider whether you will use it as you can use streaming services such as Netfix without one. Remember you only need one per household so if you are moving in with a partner make sure you aren’t doubling up.

Broadband

Check what services are available in your home – you may be able to arrange superfast broadband and there are usually some very attractive offers for new customers. If you already have an account with Sky, TalkTalk, BT, Virgin or another provider talk to them about moving the account to your new home. Also check that your phone provider has sufficient coverage in your new area – if they don’t, you should be able to change to a new provider without a fee. It’s important to plan ahead for this as you may have to wait a few weeks for a service at your new home and this can be particularly challenging if you work from home or rely on the Internet to stream your TV service.

Council Tax

This must be a priorty. Talk to your council to finalise your bill and set up your new address, paying from your move-in date. The amount you pay will depend on your council tax band which may well change when you move. This is something that should have been outlined when you were considering buying the property. Start with the local council website and remember to change your details on the electoral register as failure to do this can affect your credit score.

Utilities

Gas and electricity are essentials especially here in Scotland. Take meter readings when you leave your old property and take new readings as soon as you arrive at your new home. You should be able to stay with the same provider if you are on a good tariff.

Doctor, dentist, vet

There may be a waiting list to join your local surgery so do this as soon as you know you are moving – you may need to do this in person. Don’t forget about your pets too!

Insurance

Your buildings insurance is likely to have been arranged when you took out your mortgage as a condition of purchase, but make sure you have sufficient contents insurance and talk to your insurer about other benefits they may offer such as emergency and legal cover which can be invaluable. Don’t go for the cheapest policy but the one that has the best cover for you.

Urban Union is Proud to Support The Citizens Theatre This Christmas

Pinocchio!

Urban Union is proud to be a supporter of this year’s Christmas Show, Pinocchio at the Citizens Theatre. The Laurieston Living Development is just a stone’s throw from the Citizen’s Gorbals location.

The Citizens Theatre is Glasgow’s major producing theatre and one of the leading theatre companies in the UK. Over the last 75 years, The Citizens has built an international reputation for producing innovative shows on stage, alongside a highly regarded learning programme of participatory and education work.

We are thrilled to partnership with The Citizens Theatre for the third year running, aligning our aim to serve the Glasgow southside community, helping to regenerate the area, enhance the sense of community spirit and bring people together in their shared love of the arts. The theatre is a huge part of this, providing not only a cultural experience but bringing people from other areas of Glasgow to the region, generating employment and inspiring the next generation of young performers.

Theatre is an important part of Glasgow’s culture and we believe that all children, no matter what their background and circumstances are, deserve to enjoy this festive treat. Thanks to the donations from last year’s show, this has been made possible. Christmas is a magical time and the theatre experience only adds to the enjoyment of children and adults alike.

Our aim is to help the Citizens Theatre to continue delivering exceptional quality Christmas and year-round entertainment to Glasgow audiences whilst the Gorbals building undergoes redevelopment.

The Citizens Theatre sits just yards from our Laurieston Living development and we believe that it plays a vital role in the local community. Our aim is to revitalise communities and give people a sense of pride in where they live. By supporting the arts in the area, we can further reinforce the sense of community. It is a long-standing partnership that we are immensely proud of. We previously sponsored the Citizens Theatre’s productions of A Christmas Carol (2018) and Trainspotting (2017).

Our aim is to create revitalised communities through building new, high quality, affordable homes, including the Laurieston Living development in the Gorbals area of Glasgow and our latest development at Shawbridge Street in Pollokshaws.

Pinocchio opens on 7 December and runs until 4 January. Full of magic and adventure, this production embraces the vivid inventiveness of the original tale and will enchant the whole family this Christmas. It’s suitable for brave 6-year olds and above. Tickets start at £9 for children and £15 for adults and are available to buy from the Citizens Theatre box office citz.co.uk or 0141 429 0022.

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