All One Stop Properties staff are now successfully working from home. We aim to have our telephone lines active soon.
For the time being, you can still contact us by email: email@example.com
We will respond to everyone, however responses will be prioritised.
If you smell Gas: 0800 111 999
If you require a plumber or electrician: 07342 876 929
If you require a Locksmith: 07711 90 11 99
Thanks for your patience at this busy, unusual time.
From all the staff at One Stop Properties.
£2.5 billion is spent on heating and cooling buildings in Scotland every year and it’s the Scottish Government’s aim to reduce that figure to reduce fuel poverty and the effects of climate change.*
From 1st October 2020 (extended from April 2020), as part of the Scottish Government’s Energy Efficient Scotland Programme, Landlords will have to ensure that their rental properties achieve a minimum Energy Performance Certificate (EPC) Rating of Band E for any new tenancies, extending to all private rental properties with sitting tenants by 31st March 2022.**
Furthermore, as from 1st April 2022, properties must achieve a minimum EPC rating of Band D for new tenancies and this too will be rolled out by 2025.
For some properties, it’ll be an easy fix to improve their EPC banding score (eg. changing light-bulbs throughout to energy efficient LED bulbs). However, some Landlords may have to consider improvements such as double glazing, loft insulation, etc.
Scottish Association of Landlords has advised that “in some situations it is proposed that there will be exemptions, including where:
• It is not technically feasible to carry out improvements
• Where other owners in a block of flats refuse consent to do work to common parts of the building
• Where tenants refuse consent for work
• Where permission to carry out work to a property which is listed or in a conservation area can’t be obtained
• Where the cost of improvements needed in the period 1 October 2020 to 31 March 2022 exceeds £5000, and where the cost of improvements needed in the period after 31 March 2022 exceeds
It is intended that for all EPC related works, landlords will only be required to carry out such work where the cost of purchasing and installing it can be financed by means of funding provided by a grant or loan from Scottish Ministers.
Further details of proposed exemptions can be read in part 4 of the government’s draft guidance.
Local authorities will be responsible for enforcing the standard and granting exemptions. It is proposed that fines of up to £5000 can be levied on those owners who don’t comply with the minimum standard or provide false or misleading information on the exemptions register”.
There is a lot of hype in the media just now about the buy to let market not being as lucrative as it was a few years ago due to changes in tax legislation for landlords. But is that myth completely true or just speculation? If you are a landlord and are investing in property as a long-term investment should you be considering alternative options?
We’ve taken a look at the wider Scottish investment market and can safely say that buy to let property purchase in Scotland (and Glasgow in particular) is still a good investment (if you buy in the right areas) and here’s why.
- According to the UK House Price Index 2019, house prices grew in Scotland, on average, by 1.3% in the year to January 2019.
- Glasgow is the 3rd best city in Scotland to own buy-to-let property*, averaging a gross yield of 6.9% in G5 postcode with an average rental price of £816 per month and Dennistoun (G31) averaging a gross yield of almost 9% and a monthly rental of £703.**
- There are some lucrative hot-spots in Glasgow where property prices are starting to rise, particularly for young professionals. Read our recent blog to find out more about these hot-spots.
- Inward investment is on the increase in Glasgow. Barclays recently announced their move to Glasgow doubling their staff to 5000 employees over the next 2 years***.
- Glasgow boasts 3 of the UK’s leading universities and attracts students from all over the world, a great source of tenants for Glasgow properties.
On the opposite side of the coin, investment in stocks and shares are currently yielding on average 5% (according to the FTSE100). However, with Brexit looming, the markets are volatile and there is a lot of uncertainty hanging over the future of the markets. It is also very difficult to pick the right stocks and shares that will generate a consistent high yield.
What about savings accounts? According to the FDIC, the average UK high street bank savings account is yielding an interest rate of only 0.09%.
Taking the alternatives into account, it demonstrates that property investment is still a good option for your long-term investment plans. Are you considering investing in property as a long-term investment? Tell us what you are considering as part of this decision?
**Source: One Stop Properties
*** Source: The Guardian
You’ve got to that stage in your career where you are considering your next big investment decision the purchase of a second flat or house in Glasgow to generate additional income – but where do you buy?
In this blog we consider where the next ‘up and coming property investment areas across the city are, and where you get an excellent property for your budget. We all know that the west end of Glasgow is offers architecturally beautiful properties within sought-after addresses however there are lots of other areas within Glasgow that buyers are now considering and plenty of new ‘hotspots’ popping up.
At One Stop Properties we deal with landlords all over the City and we asked Wendy Gallagher to give us her expert opinion on where to buy in Glasgow in 2019. “Glasgow’s property market has seen a massive shift over the last 5 years. On the back of the Commonwealth Games in 2014, we’ve seen a massive increase in demand of properties in Glasgow’s East End. Dennistoun (G31) has become a real gold mine, lined with beautiful red sandstone flats offering high ceilings and original great features, as well as an excellent array of new trendy bars, restaurants and delis and its proximity to the city centre and the University of Strathclyde.
Second on the up and coming list is Oatlands. A direct result of the redevelopment of the G5 postcode due to Glasgow 2014, Oatlands offers a wealth of excellent new properties from apartments to town and family houses, with ample parking and a vibrant mix of bars, cafes and other amenities all within a one mile radius. With beautiful views over Glasgow Green and leafy walks along the river, it’s Glasgow’s alternative to the West End. According to Rightmove, Oatlands offers an excellent alternative to Glasgow City Centre and South Side. House prices in this area are on the rise (3% higher than 2018) and with excellent transport routes to the City Centre, it is an excellent property investment consideration.
Not far from Oatlands is New Gorbals, again another up and coming property investment area for landlords. With an excellent range of properties from 1 bedroom flats to 4 bedroom houses and close proximity to the M8 and M74, this areas offers something for everyone.”
Glasgow is definitely a hotspot of up and coming properties and as a landlord looking to invest in a first or additional properties, there is a lot to consider before making this significant decision. At One Stop Properties, we not only provide a property management service for all your property needs, but we’ll guide you to buy the right property that ensures your investment generates the yield you want to achieve.