Zenko Properties

See our latest Q&A with our Founder and Managing Director! https://lnkd.in/dfz5CffX

I had a catch up with the Office Morale Executive Director at Zenko Properties today, Lola is saving that much time with TDS API we even had time for a brew! #tenants #dog #deposits #protection #efficiency #lettings #property

Sub-1% mortgage launched 🏘 The introduction of a mortgage with an initial interest rate of less than 1%, called "Rate Reducer" by Own New in collaboration with Virgin Money and Halifax, has generated mixed reactions. The scheme involves funding from housebuilders, and the reduced initial mortgage payments are made possible by the inclusion of homebuilder incentive budgets into the mortgage upfront, usually amounting to up to 5% of the property purchase price. While some may see this as an attractive offer, there is at least one expert who has expressed concern, labelling it as "dangerous" and likening it to a "mousetrap." Potential risks associated with such schemes could include concerns about long-term affordability, hidden costs, or potential fluctuations in interest rates after the initial period. It's essential for individuals considering such mortgage schemes to thoroughly understand the terms and conditions, potential risks, and long-term implications. Additionally, as more lenders are expected to join the initiative, it will be interesting to see how the market and experts respond to this new approach in the mortgage industry. Read more here- https://lnkd.in/eYuX75T7 #mortgagerates #mortgageuk

What’s happening in the rental market right now? 🏡 The rental market, which has experienced high demand and limited availability in recent years, is showing signs of easing. While average rents have reached a new record of £1,280 per month, the growth rate has slowed, with the lowest quarterly increase in three years. Rental supply has increased by 7%, contributing to the moderation in price growth 🏠 The frenzied post-pandemic period saw record-breaking demand, but the market is now slightly quieter, with an average of 11 home-movers inquiring about each rental property, down from 14 a year ago. Rental price growth has also eased, with a 0.2% increase in the last quarter of 2023 compared to a 3.8% jump in the previous quarter. More properties are being reduced from their original asking price, with 23% currently reduced, up from 16% last year. 📈 Experts predict a more positive experience for renters in 2024, with a calmer outlook, reduced imbalance between supply and demand, and slower rental growth. A 5% increase in advertised rents is expected nationally, with a 3% increase in London. Overall, the market is becoming more tenant-friendly, offering a higher number of available homes and a more measured pricing trend. #housingmarketuk #housing #propertynews

2024 Predictions 🏠 The housing market is experiencing a significant trend of capital waiting to invest in single-family rental properties, known as SFR. This trend is a result of higher interest rates and the end of Help-to-Buy, leading house builders to turn to SFR funds to meet their targets 🏡 The city centre of Leeds has already seen a shift towards institutionally owned apartment buildings, driven by the demand from overseas students and local professionals. However, there is still a lack of high-quality apartments or houses specifically aimed at owner-occupiers, which presents a significant opportunity 🏙 Sales at higher price points in Leeds city centre have been limited compared to the wider metropolitan area, indicating potential for a premium city centre market to emerge 💷 Average city centre rents are likely to increase further in 2024, with potential impact from the demand for premium rentals from overseas students. Sales activity in the mid-market is expected to increase as more developments are unlocked through the Building Safety Fund, while the mortgage rate war suggests that a housing market crash is unlikely in 2024 📈 #2024predictions #housingmarket

It’s okay to be a long-term renter 🏡 UK's obsession with homeownership may be waning as more people choose to rent for the long term. Whilst traditional tenancies have tended to last a year- even less at times in the dynamic of City Centres- the institutional residential approach is founded on longer stays of up to 5 years which are starting to challenge the historic correlation between renting and transience. Our obsession with owning in order to create wealth is more challenging and the notion that rent is dead money is deep-rooted. The equity embedded in a home is only accessible through equity release or downsizing, which is likely to require the investment of a chunk of equity into another property. Whilst past generations have obsessed with owning their home in order to create long term wealth, it is a fact that many owners never sell, leaving their property behind when they die and creating a tax burden to boot. This wealth is often never realised 💴 📉 Renting is undoubtedly becoming more socially acceptable and longer-term tenancies in institutionally owned properties are increasingly accessible but if future generations are to properly embrace rentals for the long term and potentially for a lifetime, we will need to move away from viewing our home as an investment 👨👩👦 #longtermrenter #leeds #homeinvestment #rentalmarket

Zenko presents a new Sale Leeds Riverside Flat: A Serene Haven in the Heart of the City 🌆 If you are searching for a remarkable place to call home in Leeds, then look no further than this stunning riverside flat. Recently highlighted in the Yorkshire evening post, this property offers a unique opportunity to embrace a serene lifestyle while being conveniently located in the heart of the bustling city. https://lnkd.in/e_F45UqY

Zenko Properties Partner Jonathan Morgan, added: “We are all very proud of the sustainable, organic growth we are achieving and we are determined to become the go to residential agent of choice in Leeds city centre.” https://bit.ly/3teRYuO

What the Energy Price Cap change means for energy bills? The Energy Price Cap is a limit set by Ofgem on the maximum amount energy suppliers can charge for each unit of energy. It is updated every three months to reflect changes in energy costs and inflation. From October to December 2023, a reduced cap is in place, limiting the average bill for a typical household to £1,834 per year. However, the amount you pay will depend on your energy usage, location, and payment method. Starting in January 2024, the price cap will increase by 5% due to the rise in wholesale gas prices. This will result in an average annual bill increase of around £94. Despite this increase, the upcoming cap amount is lower than what was observed in the same period last year, when the Energy Price Guarantee was in place to prevent bills from exceeding £2,500. 👉 The government's Energy Bills Support Scheme, which provided a £400 discount on energy bills, has ended however other government-funded schemes are available in England, Scotland, and Wales to assist with energy bills for eligible customers. 👉 The Warm Home Discount Scheme offers a discount of £150 off electricity bills or added to prepayment meters for those on benefits or receiving the Guarantee Credit element of Pension Credit. 👉 The Energy Price Cap affects those on default or standard variable tariffs, including those on direct debit, standard credit, prepayment meters, or Economy 7 meters. 👉 Pre-payment meter users will be affected by the Energy Price Guarantee, which changes the way discounts are applied. 👉 Customers paying by direct debit should check their usage and contact their supplier if they are in credit. https://lnkd.in/euRjNQxx #energypricecap #energybillsuk