Affordable and attractive London hotspots for First Time Buyers

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House prices have risen significantly nationally over the last three years, and it feels as if the first step onto the housing ladder has become more challenging. Despite this, the dream of owning their first home for many is not dwindling.

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<p><strong>Research-based insight from JLL experts following the Budget 2020.</strong></p><p><strong>Overall reaction - Jon Neale, Head of UK Research:</strong></p><p>The Government is beginning to demonstrate a co-ordinated approach to a potential Coronavirus shock, with the Bank of England announcing a 50 bp base rate cut to 0.25% to support the economy. The rate cut &ndash; and resulting falls in risk-free rates &ndash; will undoubtedly give space for prime yields to fall further.</p><p>While the Budget may not be as dramatic as some in government will have hoped, given the more pressing priorities around constraining and dealing with a Coronavirus outbreak, it demonstrates a clear commitment to supporting business as the UK deals with its effects. This represents an inflexion point in UK government policy and Conservative party strategies.&nbsp;</p><p>Firstly, it signals a final end to austerity, with the government now prepared to accept a rising rather than net borrowing requirement. It is now clearly on a path of borrowing and investing.</p><p>Secondly, it demonstrates the start of a shift of its priorities for investment and its attitudes towards tax cuts, which reflect the shifting nature of the party&rsquo;s voters. Investment will be refocussed towards the North and Midlands, particularly in areas such as infrastructure and public R&amp;D spend. Tax cuts, meanwhile, are likely to be tilted towards lower-earning groups. The message to our industry is clear: while London will continue to flourish given its inherent strengths, the opportunities in the rest of the country are likely to multiply.</p><p>The scale of these shifts, at least initially, should not be exaggerated, but they are likely to be the start of a more profound trend in the longer term &ndash; even if plans for this year are sent awry by a potential pandemic. There are risks to this approach &ndash; London remains the nation&rsquo;s economic hub and desperately needs projects such as Crossrail 2.</p><p>Meanwhile, the government seems less keen to address other, more fundamental and long-term problems &ndash; such as the ballooning social care needs of an ageing population.</p><p>&nbsp;</p><p><strong>Business Rates &ndash; Tim Beattie, Head of UK Rating</strong></p><p>Get Transition Sorted:</p><p>The Chancellor announced a wide ranging and fundamental review of business rates with the objective of reducing the overall burden on businesses, improving the current business rates system and considering more fundamental changes in the medium-to-long term.</p><p>&ldquo;Whilst we welcome the government&rsquo;s announcement that it intends to undertake a consultation into major reform of the business rates system and take encouragement from the objectives stated in the review, the government needs to ensure it doesn&rsquo;t just repeat other recent consultations which have all led to small, iterative changes (the &ldquo;sticking plaster&rdquo; approach) rather than meaningful ones and to deliver them quickly.</p><p>&ldquo;The retail sector has been at the forefront of the call for more radical change and in particular have coalesced around the idea that the government needs to remove downward transition at the next revaluation and we therefore take further encouragement from the fact that the review is to focus on this area from April 2021 and we therefore implore the Chancellor to &ldquo;get transition sorted&rdquo;</p><p>&ldquo;The abolition of rates for all retail, leisure and hospitality premises with a rateable value less than &pound;51,000 for 2020/21 is also welcome news but many won&rsquo;t benefit from this measure as they don&rsquo;t meet the qualifying criteria.&rdquo;</p><p>&nbsp;</p><p><strong>Sustainability &ndash; Sophie Walker, UK Head of Sustainability:</strong></p><p>"Today&rsquo;s announcement is certainly a step in the right direction, particularly with regard to addressing social and regional inequality, but in no way can we claim that the environment is at the heart of the Government&rsquo;s economic planning. Increasing research and development investment is of course commendable, but without clear subsequent support in the upcoming National Infrastructure Strategy, we still risk missing our net zero carbon goal. We stand at a critical crossroads, where the Government needs to act to ensure the Chancellor&rsquo;s words aren&rsquo;t simply more hot air. We simply can&rsquo;t afford to look hypocritical as we seek to corral global leaders to deliver in the run up to COP26."</p><p>&nbsp;</p><p><strong>Residential - Nick Whitten, Head of UK Living Research:</strong></p><p>&ldquo;Today&rsquo;s Budget announcement to provide additional infrastructure funding is a welcome step in the right direction to enable new housing development. A lack of social infrastructure, such as sufficient schools, GP surgeries, roads and better public transport connections, is often cited as the blocker for new housing developments making it through the planning system. This fund should be the key to unlocking the door to building thousands of new homes across the UK. The additional funding for the Affordable Homes Programme is particularly welcome as part of the levelling up agenda and providing homes for those who need the most housing support.&rdquo;</p><p>&nbsp;&ldquo;The change in the rate of Stamp Duty for international investors was anticipated as part of the Government&rsquo;s priority to &lsquo;level up&rsquo; the distribution of wealth in the UK. However, it is vital to strike an appropriate balance in meeting this priority and enabling international investment which currently plays such a crucial role in unlocking the development of thousands of new homes in London and the UK&rsquo;s major regional cities. We welcome the delayed introduction until April 2021 to allow developers to explore options to adjust their delivery models. But time will tell what the long-term impact of the increase is, and whether it will threaten the future attractiveness of the UK and the viability of some housing schemes already in the pipeline.&rdquo;</p><p>&nbsp;</p><p><strong>Northern investment &ndash; Stephen Hogg, Head of North West:</strong></p><p>&ldquo;2019&rsquo;s General Election saw the Conservatives win a sweep of former Labour strongholds in the North of England, and we welcome the Government&rsquo;s commitment to repaying voter trust by increasing spend in the regions.</p><p>&ldquo;The Chancellor&rsquo;s announcement of &pound;600bn of capital investment over the next five years to &lsquo;upgrade, improve and enhance&rsquo; Britain is positive news for strategic regional infrastructure projects, such as the upgrading of Northern rail routes and additional investment into HS2. This boost will enable key regional hubs such as Manchester and Liverpool to benefit from increased growth &ndash; minimising economic inequality in relation to the South East, and allowing cities across the North to unlock potential and productivity. Crucially, investment in our regional public transport systems will also support climate crisis action plans such as Mayor Andy Burnham&rsquo;s Zero Net Carbon 2038 targets for Manchester &ndash; particularly in light of the Chancellor&rsquo;s commitment to investing &pound;1bn in green transport solutions across the UK.</p><p>&ldquo;Lastly, the North West&rsquo;s night-time economy is expanding rapidly, and so the Chancellor&rsquo;s decision to abolish business rates for the next year for smaller companies within this sector will allow it to further diversify and flourish.&rdquo;&nbsp;&nbsp;</p><p>&nbsp;</p><p><strong>Ian Cornock &ndash; Lead Director, Midlands Region:</strong></p><p>&ldquo;The Chancellor&rsquo;s willingness to diverge from the traditional &lsquo;Green Book&rsquo; rules for public spending, which have an inbuilt bias to the South East, should enable the funding to allow the growth of urban transport in Birmingham and the wider West Midlands to continue apace, with the extension of the metro network towards the east of the city and the airport creating a new corridor for investment.&nbsp;</p><p>&ldquo;This, along with the proposed re-opening of local railway stations to the south of the city and in the Black Country, will help support the Mayor&rsquo;s plans to deliver thousands of new homes on brownfield sites, with a &pound;400m boost from the chancellor to ambitious mayors like Andy Street to help get this done.</p><p>&ldquo;Birmingham&rsquo;s commitment to tackling climate change with a &pound;1bn investment in a sustainable and inclusive green transport network is to be welcomed. A traffic-free city centre and reallocated road space at the heart of its recently published transport plan &ndash; is the way to go for cities looking to compete on the world stage in the years to come. Businesses and residents alike are recognising the benefits &ndash; and being able to get to and from the 2022 Commonwealth Games venues via fast, cost-effective public transport is going to help create a lasting positive impression for visitors to the city, too.&rdquo;</p><p>&nbsp;</p><p>And if you have any questions on this research or anything else that you'd like us to clarify, please feel free to get in touch with us directly at +603 2260 0700</p><p>&nbsp;</p><p>To view the latest residential properties in London and Manchester, click&nbsp;<span style="text-decoration:underline;"><a href="https://internationalresidential.jll.com.my/">here</a></span></p>

JLL reacts to the government's 2020 Budget announcement

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<div><div id="block-system-main"><article id="node-563" about="/news/2020/02/17/2020-uk-property-predictions" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div property="content:encoded"><p>After a year of continued political uncertainty and a general election resulting in Boris Johnson being elected Prime Minister, a Brexit deal remains at the top of the political agenda, but it&rsquo;s not the only theme that will influence the UK real estate market in 2020.&nbsp;&nbsp;</p><p>&nbsp;</p><p>Here are forecasts and predictions for the year ahead, to understand the complete picture for each real estate sector and broader industry themes including:</p><p>&bull; Brexit, the future trade relationship with the EU and the global economy.</p><p>&bull; Climate change and its impact on real estate</p><p>&bull; Supply and demand for the Central London and regional office markets</p><p>&bull; PropTech and its continued growth</p><p>&bull; Health &amp; wellbeing in the workplace</p><p>&bull; Build-to-Rent and its place in the housing market</p><p>&bull; The emerging life sciences market</p><p>&nbsp;</p><p>And if you have any questions on this research or anything else that you'd like us to clarify, please feel free to get in touch with us directly at +603 2260 0700</p><p><a href="https://internationalresidential.jll.com.my/download?pdf=562&amp;return_to=news/2020/02/17/2020-uk-property-predictions" target="_blank">Download Report</a></p><div><br /></div></div></div></div></article></div></div><div>&nbsp;</div>

2020 UK Property Predictions

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<p>Germany is famous for many things; its colourful history, architecture, vibrant art and gallery scene and a nightlife that never closes. Germany is also famous for its education, particularly in the medical and science fields.</p><p>In recent years, Germany&rsquo;s economy has witnessed an upturn of +48% GDP growth (2005 &ndash; 2016), making it one of the fastest growing economies in the world. German&rsquo;s capital city, Berlin is the leading city for overall development prospects
    (2015 &ndash; 2018) in Europe, based on PWC&rsquo;s Emerging Trends in Real Estate study. The city became the top investment location due to its rapid economic and population growth and ever-increasing rents and property prices.&nbsp;</p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1552893078/olmwebcontents/ip/prod/ljowaocwyffe0ontss1i.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1552893119/olmwebcontents/ip/prod/j4cq53vt9zq7esykhpox.jpg" /><p><strong><span style="text-decoration:underline;">Why Berlin?</span></strong></p><p>1) Affordable investments</p><p>Property market in Berlin remains stable even during the financial crisis. In comparison to most major metropolises around the world, Berlin&rsquo;s housing market was only minimally affected. Property prices in Berlin is comparatively low compared to
    other major German cities.</p><p>2) Growing population and multi-cultural community</p><p>Berlin currently have 3.7 million inhabitants from 190 different nationalities. The number of population is expected to grow by 60,000 per year, mainly due to inward migration. As a result, there will be an increase in supply of new homes of approximately
    194,000 new apartments by year 2030. (Source: City of Berlin, IHK Berlin (2018))</p><p>3) Increased demand driving higher prices</p><p>By having demand outstripping supply in recent years, homeowners and property buyers will be expecting a capital appreciation of 12.6%. Furthermore, there will be steady rent increases for up to 15 years. (Sources: JLL Residential City Profile Berlin,
    H1 2018; Deutsche Bank Research, The German housing market in 2018, Global Property Guide)</p><p>4) Leader in medical technology and pharmaceutical industry</p><p>Pharmaceuticals and medical technology market have been one of the most dominant sectors in Germany by generating an annual turnover of approximately &euro;1.2 billion.</p><p>5) Highly advanced center of education and research</p><p>Schools and universities in Berlin occupy top positions in international rankings. A largenumber of internationally-oriented scientific institutions are also concentrated in the research sector. The German education system is regarded as one of the best
    in the world. According to the Times Higher Education World University Ranking, the Technical University (TU) is one of the 100 best universities in the world. Another example of top international university is The Free University of Berlin.</p><p>6) Highly established art and culture centers</p><p>Berlin is known to be top location for galleries, museums and commemorative sites and Christmas markets, compared to any other European metropolis. There are in total, 440 galleries, 180 museums and commemorative sites and 80 Christmas markets.</p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1552893304/olmwebcontents/ip/prod/gf4z1zglg6crxslbe5nc.jpg" /><p><span style="text-decoration:underline;">Featured Project:&nbsp;</span><strong><span style="text-decoration:underline;">Embassy</span></strong></p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1552893344/olmwebcontents/ip/prod/cyktpmeg4rmtex2x0t24.jpg" /><p><strong>Embassy</strong>, is an exclusive apartment located in the heart of Berlin. It is located alongside Kollnischen Park, a registered landmark in Berlin. The 6-floor residential development contains 133 units and these units are from 1 to 5 rooms.
    Attractions surrounding the residential area include River Spree and numerous restaurants, cafes and shops.</p><p>&nbsp;</p><p>For further information contact JLL International Residential directly at +603 2260 0700 or&nbsp;<a href="mailto:wong.christine@ap.jll.com">wong.christine@ap.jll.com</a></p><p>&nbsp;</p>

6 Reasons to Invest in Berlin Property Market

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<p><a class="olm-btn btn-danger olm-btn-large no-radius" href="https://jll-global-gdim-res.cloudinary.com/image/upload/v1550458064/olmwebcontents/ip/prod/rfgcaa36spggggchmjka.pdf" target="_blank">Download Report</a></p><p>&nbsp;</p><p><strong>Here are a few points highlighted in the report include: -</strong></p><p>&nbsp;</p><p>&bull; Pricing in the most central locations averages around &pound;1,600 psf but can go up to &pound;2,000 psf.</p><p>&bull; Rents on a typical one bedroom apartment in Central City can range from &pound;550 to &pound;700 pw while on the City fringes rents are more typically in the &pound;400 to &pound;550 pw range.</p><p>&bull; 5,000 units will be developed over the next 5-10 years for the City &amp; City Fringe market over the next 5&ndash;10 years.</p><p>&bull; Many residents are electing to rent rather than buy while economic and political conditions are so uncertain.</p>
<p>&nbsp;</p><p>And if you have any questions on this research or anything else that you'd like us to clarify, please feel free to get in touch with us directly at +603 2260 0700</p>

A Look Into UK City & City Fringe

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<h3 class="featuredProperties__title"><span class="featuredProperties__title-featured typography-hero">Featured </span><span class="featuredProperties__title-project typography-hero"> properties </span></h3>

<h3 class="featuredProperties__title"><span class="featuredProperties__title-featured typography-hero">Featured </span><span class="featuredProperties__title-project typography-hero"> developments </span></h3>

<h3 class="featuredProperties__title"><span class="featuredProperties__title-featured typography-hero">Featured </span><span class="featuredProperties__title-project typography-hero"> resales</span></h3>

<h3 class="featuredProperties__title"><span class="featuredProperties__title-featured typography-hero">Featured </span><span class="featuredProperties__title-project typography-hero"> developments</span></h3>

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<p>PRIVACY NOTICE</p><p>Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.</p><p>Generally the personal information we collect from you are for the purposes of dealing with your enquiry.</p><p>We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our&nbsp;<a href="https://www.jll.co.uk/en/privacy-statement" target="_blank">privacy statement</a>.</p>

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