British Homes Group in Landlord Investor Magazine

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ORLANDO RECORDS FASTEST GROWING POPULATION IN THE US
AS INVESTORS LOOK TO THE SUNSHINE STATE

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Orlando is number one destination for population growth, welcoming over 60,400 new residents in 12 months (US Census Bureau)

FOLLOWING IN THE FOOTSTEPS OF ITS MOST FAMOUS RESIDENT, MICKEY MOUSE, THE US CITY OF ORLANDO IS CONTINUING TO ATTRACT A SIGNIFICANT NUMBER OF NEW INHABITANTS.

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According to the most recent figures released by the US Census Bureau, Orlando is the number one destination for population growth, adding over 60,400 new residents in just 12 months (July 2014 to July 2015).

This substantial increase accounted for a 2.6% growth in Orlando’s total population during the 12 month period, making it the fastest growing of the US’s 30 largest regions. Orlando’s rising population ensured that it was also named in Forbes.com’s prestigious list of America’s fastest growing cities.

Compiled by ranking the 100 largest metro areas and their surrounding suburbs, they factor in population growth for 2015 and 2016, year-over-year job growth for 2015, the metro’s economic growth rate, unemployment, and median annual pay for college-educated workers in the area.

Currently ranked 7th, with a substantial projected growth rate of 2.03% for 2016, Orlando is definitely a city to watch this year. With a rising population comes growing housing demand, and savvy international investors are increasingly looking to Orlando and the Sunshine State of Florida as a safe and secure destination, with a wealth of opportunities.


In 2015 Orlando greeted over 66 million tourists,  (Florida over 100 Million!) a 5.4% growth in comparison to 2014

As well as experiencing strong population growth, Orlando has also witnessed a surge of tourism in recent years, adding to its already strong position as a hub of real estate investment.

2015 saw Florida become the first state to ever welcome more than 100 million out-of-state and international tourists, with over 105 million people visiting the Sunshine State throughout the year. Will Seccombe, President and Chief Executive Officer of Visit Florida, the state’s tourism authority, emphasised Orlando’s part in this record breaking achievement, explaining,

“Orlando is the most visited destination in the United States. It’s the most visited city, and certainly the home of the theme park capital of the world, right? No place else on earth can compare to that.”

The city itself attained a new tourism record in 2015 as ‘The City Beautiful’ welcomed over 66 million tourists. George Aguel, President and Chief Executive Officer of Visit Orlando, the region’s tourism arm, recently revealed 2015’s 5.4% growth, which comes just a year after Orlando became the first US destination to surpass 60 million visitors.

Orlando was America’s number one employment centre for job growth in 2015 (Labour Market Data)

Read the full article on our Buy To Let Homes site.

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With over 20,000 investment homes to choose from, British Homes Group can provide a fully managed leaseback agreement and bonus access to an exclusive rental partnership with Virgin Holidays. The partnership can assist and support investors in finding reliable tenants in order to make the most of the property.

For more information please contact British Homes Group today on +1 407 396 9914 or visit www.britishhomesgroup.com

Orlando Florida, USA

www.BuyToLetHomes.com | www.BritishHomesGroup.com

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Serving UK and International Villa Owners and Property Investors in the Walt Disney Area of Central Florida For Over 30 Years!

Orlando area Distressed Sales

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Some numbers from the ORLANDO BUSINESS JOURNAL on distressed property sales in the Orlando area.

Distressed sales continued to decrease in February, according to a new report from CoreLogic.

Orlando, Kissimmee and Sanford had the largest year-over-year drop in its distressed sales.

In January, our share of distressed sales was at 19.8 percent, so the latest data shows a pretty good decrease for the region. In fact, Orlando-Kissimmee-Sanford had the largest year-over-year drop in its distressed sales share, declining by 5.3 percentage points from 24.3 percent in February 2015 to 19.1 percent in February 2016.

Bills Bit

More good news for Orlando villa owners!

But remember the difference between “Price” and “Value”:

“Value” factors-in QUALITY!

Best!

Bill

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With over 20,000 investment homes to choose from, British Homes Group can provide a fully managed leaseback agreement and bonus access to an exclusive rental partnership with Virgin Holidays. The partnership can assist and support investors in finding reliable tenants in order to make the most of the property.

For more information please contact British Homes Group today on +1 407 396 9914 or visit www.britishhomesgroup.com

Orlando Florida, USA

www.BuyToLetHomes.com | www.BritishHomesGroup.com

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Serving UK and International Villa Owners and Property Investors in the Walt Disney Area of Central Florida For Over 30 Years!

 

Orlando home prices up 5 percent

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Orlando home prices pushed up 5 percent in March from February.

The median home price for the core Orlando market was $195,000 in March. During the last year, prices jumped 10 percent and wages grew about 1 percent, according to a new report by Orlando Regional Realtor Association.

For Orlando buyers in March, the bad news was that prices hiked and for-sale signs disappeared.

Since last summer, buyers have chipped away at Central Florida’s inventory of homes on the market.

Since the beginning of the year, the supply has dwindled from 5 months to just 3.5 months – almost half of the 6-month supply that marks a balanced market.

Houses lasted 70 days on the market before landing a contract, down from 80 days a year ago.

Final sales prices were just 97.1 percent of the asking price.

With over 20,000 investment homes to choose from, British Homes Group can provide a fully managed leaseback agreement and bonus access to an exclusive rental partnership with Virgin Holidays. The partnership can assist and support investors in finding reliable tenants in order to make the most of the property.

For more information please contact British Homes Group today on +1 407 396 9914 or visit www.britishhomesgroup.com

Orlando Florida, USA

www.BuyToLetHomes.com | www.BritishHomesGroup.com

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Serving UK and International Villa Owners and Property Investors in the Walt Disney Area of Central Florida For Over 30 Years!

Investment Sales Jump in the US

According to a new annual survey by the National Association of Realtors, vacation home sales in the U.S. cooled off in 2015 but remained at the second highest amount in nearly a decade, while investment purchases increased for the first time in five years.

Mirroring the strong price growth seen throughout the U.S., the median sales price of both vacation and investment homes surged in 2015.

NAR’s 2016 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2015, found that vacation-home sales last year declined to an estimated 920,000, down 18.5 percent from their most recent peak level of 1.13 million in 2014.

Investment-home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014. Owner-occupied purchases jumped 15.9 percent to 3.74 million last year from 3.23 million in 2014 – the highest level since 2007 (3.93 million). Sales estimates are based on a national online survey including responses from over 2,000 U.S. adults who purchased a residential property in 2015, and exclude institutional investment activity.

Looking for an investment property in the Orlando area? Read our article in Landlord Investor Magazine.

Lawrence Yun, NAR chief economist, says vacation sales took a sizeable step back in 2015, but still came in at the second highest amount since 2006.

Read more at: World Property Journal

Serving UK Villa Owners in the Walt Disney Area of Central Florida for Over 30 Years!

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Overseas Property Owners Unsure of Brexit Impact

According to a recent A Place in the Sun review 90% of Overseas Property Owners Unsure of Brexit Impact

  • 90% of UK overseas property owners admit they are unsure how a Brexit will affect their overseas property
  • 4 in 10 (42%) admit to having concerns about their overseas property purchase
  • 7 in 10 said that leaving the EU would not prevent or postpone them from buying an overseas property

British overseas property owners admit they are not aware of how Britain leaving the EU will affect their current property purchase, according to new research undertaken on the announcement of the referendum date.

Currently, 2.2 million Brits live within the EU, outside of the UK, with a further 1 million owning a holiday home. Property investment overseas has seen a resurgence in the last two years, helped by a stronger pound and better value property.

More than 70% of Brits saying that Britain leaving the EU would not prevent or even postpone any future purchases.

Recent research revealed that three quarters of Brits would choose to buy a property abroad for a better way of life, 70% citing warmer climates. 26% admitted that they felt that they would be in a better financial position by owning a property abroad, with 27% admitting that they would be enticed by thoughts of a nicer property.

Holiday Home Owners

The EU could require UK citizens to apply for a visa in order to visit a country within the EU, which for holiday home owners would mean more intrusive questions about how long you were going to stay, your income and health cover.

Property Ownership

The main area of contention is how property inheritance and taxation laws would apply; at the moment the rules treat EU and non-EU citizens differently.

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Buyers who purchased a house in Orange, Seminole, Osceola or Lake counties

Metro Orlando’s housing market outperformed Florida’s in January for both price increases and sales volume, a new report shows.

Buyers who purchased a house in Orange, Seminole, Osceola or Lake counties during January paid a midpoint price of $202,000, which was about $3,000 higher than the median price across the state.

Central Florida’s year-over-year price gains surpassed the state’s 13 percent price growth during the last year.

Orlando had about 2,000 sales of single-family homes in January, which was up 4.3 percent from January 2015.

Near the four-county Orlando area, the metro areas for Polk, Volusia and Brevard counties all experienced larger year-over-year price gains than the state in January. The midpoint price for both Polk and Volusia last month was $150,000 and that was up at least 15 percent from the beginning of last year. And Brevard County’s median sales price of $168,038 in January increased more than 17 percent during that time.

The double-digit growth in house prices from a year ago trickled over to Florida’s condominium market. Condo prices throughout the state increased 11 percent during the year-long period and hit a midpoint of $152,000. In Orlando, prices for those multi-family-style units increased 18 percent during the year to reach a median of $112,000 – more than double what they were about five years ago.

The inventory of houses throughout Florida shrunk from a supply of 5.9 months in January 2015 to just 4.5 months of supply last month. More good news for Orlando Villa and Condominium Owners!

Best!

Bill Cowie
Director, British Homes Group, Florida

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Equity Release Gains Momentum

From yesterday’s UK EQUITY RELEASE COUNCIL

Surge Of Drawdown Activity As Equity Release Gains Momentum

Drawdown accounts for seven in ten new plans agreed as lending breaks quarterly, half-year and annual records
Total H2 lending up 21% year-on-year; Q4 sees strongest annual growth of 2015 (22%)
More than 22,500 new plans agreed for the first time since 2008
Market has doubled in size since 2011 and exceeds its pre-recession peak by 33%
Value of home reversions in H2 was the most in any half-year period for four years

Homeowners over the age of 55 unlocked a record amount of housing wealth via drawdown lifetime mortgages in the final quarter of 2015, pushing annual equity release lending to a new high of £1.61bn according to year-end results from the Equity Release Council (The Council).

Lending via drawdown products totalled £271m between October and December 2015, the largest quarterly total since this type of lifetime mortgage first emerged in 2004. Seven in ten (70%) new plans agreed in Q4 2015 were drawdown, up from 63% in Q3 2015, as more customers opted to withdraw their housing wealth in stages to boost their retirement income as and when they need it.

Drawdown lending for the whole of 2015 was also the highest on record at £961m. It pushed total equity release lending activity by members of The Council¹ to an unprecedented £1.61bn: up 16% from £1.38bn in 2014. Last year saw more than 22,500 new plans agreed for the first time since 2008.

The market’s second half performance was even stronger, with total lending of £898m in H2 2015 up 21% from the previous half-year record of £741m in H2 2014. Both drawdown and lump sum products saw H2 lending grow 21% year-on-year, with drawdown passing £500m (£538m) for the first time in any half-year period. The value of home reversion plans – £4.5m – was the most in any half-year period for four years (since H2 2011)
At 22%, the year-on-year lending growth rate in Q4 2015 was the largest of any quarter last year, despite a slight dip in quarterly lending from £453m in Q3 to £445m.

Since falling to a post-recession low of £789m in 2011, annual equity release lending has more than doubled in the last four years and now exceeds its pre-recession peak (£1.21bn in 2007) by 33%. Over the whole of 2015, drawdown lifetime mortgages accounted for two in three (66%) new plans agreed, while lump sum lifetime mortgages made up 34% and home reversions below 1%.

The results come as The Council prepares to mark the 25th anniversary of the first industry Standards being developed for equity release in 1991. As part of The Council’s Statement of Principles and associated Rules and Guidance, these continue to support best practice in providing equity release advice and products, so customers are fully informed, supported in their choices and able to access secure finance in later life with built-in guarantees and protections.

Since publishing a set of policy recommendations for Government in October 2015, The Council has made further recommendations to the Treasury and the FCA to help develop the market and meet growing consumer demand for using housing wealth in retirement planning.

The Council is also set to announce new initiatives for equity release advisers in Q1 2016 as part of its work to promote best practice across the sector.

Nigel Waterson, Chairman of the Equity Release Council, commented:

“These year-end figures are the latest sign of growing reliance on housing wealth as a key pillar of later-life financial planning. The rising popularity of drawdown has been one of the success stories of the last decade, and product features have since appeared allowing customers to protect a percentage of their equity as an inheritance, make part-repayments of capital or make interest repayments on their loan.

“Looking ahead, the challenge is to continue developing products which meet consumer needs while ensuring that innovation is combined with protection and long-term sustainability. The work led by The Council and its members to uphold standards for equity release products and advice has been fundamental to creating a safe market for consumers, and we will continue these efforts to meet growing customer demand alongside regulators and the Government. The Council enters its 25th year with huge confidence in the future of equity release.

“Housing wealth is often people’s greatest asset and it makes sense for equity release to be on every homeowner’s checklist to consider as part of their retirement and estate planning. At the same time, it is not suitable for every circumstance, which is why professional financial advice and independent legal advice are essential so that customers understand how the products work, and what they can offer. Supporting advisers as the market grows will be a top priority in the year ahead.”
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Another source of low-cost financing for Florida property investment!

Best!