Tag Archives: Dawsons Property

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The Salisbury, Swansea, re-invented

Churchill Buildings is set to join the cast of one of Swansea’s most desirable apartment developments by replacing the Ballroom in Walter Road’s ‘The Salisbury’ with a high specification kitchen & substantial sized lounge.

You could be entertaining guests where ladies and gentlemen of the 1920’s danced to the Charleston! The new and exciting development enjoys a prestigious location just a stone’s throw from the heart of the City of Swansea, with all major transport links being within walking distance.

There is a selection of executive apartments boasting contemporary kitchens, oversized bathrooms – some with roll top baths. Original features such as bare brick walls and fireplaces produce a spectacular look, with each flat benefitting from its own quirky style.

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With some of its apartments enjoying 1000+ square footage, these really do need to be seen! Prices start from £695pcm. For more information or to arrange a viewing, contact Dawson’s on 01792 301000.

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Leading estate agent teams up with Swansea BID to unlock savings in the heart of the city

Photo Caption: L to R Russell Greenslade CEO BIDS and Ricky Purdy Director of Residential Lettings, Dawsons

To extend their ethos for delivering independent solutions, Dawsons has collaborated with the Swansea Business Improvement District (BID) team to promote the city’s loyalty card scheme.

The independently owned estate agent, who is celebrating 25 years of trading this year, will be working with Swansea BID to ensure individuals across South Wales have access to the latest and greatest money saving offers. The new city centre loyalty card, courtesy of the Big Heart of Swansea, delivers savings in shopping, health and beauty, food and drink, home, and leisure. Current offers include free hot pod yoga sessions and discounts on everything from beauty treatments to butchered meat and shoe repairs.

“We are delighted to have one of Swansea’s best known estate agents supporting the city centre and the loyalty card concept, which is an important sales promotion for all BID members and rewards the general public for shopping in the city centre,” said Russell Greenslade, CEO of Swansea BID.

Swansea BID is one of only five BIDs in Wales and aims to make the city centre a bustling hub where people can shop, visit, stay and socialise.

Ricky Purdy, Director of Residential Lettings, and Joanne Summerfield-Talbot, Director of Residential Sales, added, “We feel this is a great opportunity to engage with local businesses and the community we live in by spreading the word about the Big Heart of Swansea Loyalty Card. Dawsons’ Sales and Rentals branches will be distributing the loyalty card to all their clients to ensure that they don’t miss out on some great savings, whether it be a saving on a night out, something new for the home or a well-deserved pamper day. Our offices have also been selected by Swansea BID as registration and card collection points for the public not just our current or possible clients.”

To find out more about the city centre loyalty card, please visit www.bigheartofswansea.co.uk/loyalty-card-and-offers.

 

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Swansea open evening set to assist landlords in how to comply ahead of licensing deadline

Photo Caption: Director of Residential lettings Ricky Purdy

The rental sector across the UK property market remains a hot bed of activity; most recently the question raised is how landlords can continue to self-manage a property in Wales whilst adhering to the requirements of Rent Smart Wales. To ensure landlords throughout the region have the correct advice and support so they may continue letting from November 23rd this year, Swansea-based letting agent Dawsons is set to host an informative open evening at their Walter Road branch.

 

Taking place on Tuesday 12th April 2016 from 6pm, Dawsons’ lettings department will open its doors and its team of time served property experts will share their knowledge and the most up-to-date industry insights on landlord registration and licensing.

 

“Since 23rd November 2015, it has become a requirement for all landlords operating in Wales to become registered. As part of this new requirement from Part 1 of the Housing (Wales) Act 2014, landlords were given one year to comply with this obligation, as is the case for licensing should a landlord manage a property without the use of a letting agent. The open evening will be in line with our eight month countdown to the November 23rd 2016 deadline,” said Ricky Purdy, Director of Residential Lettings at Dawsons.

 

In order to register with Rent Smart Wales, a landlord must provide accurate and current information about themselves and their rental properties. However, despite Rent Smart Wales being set up and run through Cardiff Council assisted by the wider Welsh Government to help landlords across the entirety of Wales, many are still unaware of the change in legislation, how to register as a landlord and whether the new requirement of licensing even applies to them.

 

“We promise an informative evening designed to update self-managing landlords on this hot topic. Landlords can take full advantage of this opportunity to learn of the time frames, initial requirements and landlord costs as well as the ongoing needs that mandatory licensing puts upon private sector landlords within Wales. All landlords will be provided with informative guides and introductory packs to take away and benefit from, and our team will also be available to offer professional assistance prior to the November deadline,” concluded Ricky, with greatly discounted service options also available on the night for those who see the introduction of licensing as an ideal opportunity to utilise the services of a letting agency.

If you wish to be included in this event please call our city centre office 01792 301000 email rsw@dawsonsproperty.co.uk to confirm your place. Limited spaces available.

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Could exciting new development plans transform Swansea as we know it?

Swansea city centre and its seafront have already undergone quite the transformation in recent years. In addition to Swansea Bay welcoming a plethora of new businesses, the city’s university has aligned with their world class reputation for research, innovation and education by doubling its campus in size, signalling a brighter future for its students, staff and the surrounding area. But the city’s exciting regeneration plans don’t end there…

Here Chris Hope, Partner at Dawsons Estate Agents, talks us through the multi-million pound proposals and the impact that the revamp could have on the economy, tourism, and the businesses and residents that call Swansea their home.

From the high street to the seafront

According to plans unveiled by Swansea Council, the city centre, from the high street to its harbour, is in for a major transformation. If approved, the outline plans will see two sites undergo redevelopment with work due to start as early as 2017. With developer Rivington Land & Acme leading the way, St David’s shopping centre, along with its car parking facilities, will face redevelopment with a landmark tower and 3,500-seat arena the jewels in the crown of the centrally based leg of the project. The tower is said to be designed to rival the Meridian Tower, whilst the neighbouring retail and restaurant facilities will provide a vibrant quarter at the heart of the city.

On the seafront, Trebor Developments will construct an aquatics research centre and public aquarium as well as a range of apartments, townhouses, eateries and public spaces.

The impact on our local economy

The increased level of facilities is what will really set the new and improved Swansea city centre and seafront apart from not just its former offering but from other cities and towns in Wales, including nearby rival Cardiff. If the developments were to go ahead as outlined the project will improve the look and feel of the high street ten-fold creating a welcoming environment for city centre businesses looking to set up shop within the area. In addition to generating more vibrancy, the development will attract even more investment with the proposals already resulting in a variety of ambitious and high quality shortlisted bids for both the Civic Centre and St David’s sites.

The new arena will also provide the facilities for a host of events, concerts and performances, a prospect that will increase tourism and spending within the area to support big and small brands based in Swansea. Tourism will be increased further thanks to the addition of what will be a world-leading aquarium and aquatics centre.

What will the plans mean for us?

For residents and businesses alike the potential for long term investment within the area will unlock a selection of exciting opportunities. For individuals, job prospects will increase dramatically, particularly within the retail and hospitality fields, whilst residential property values are likely to receive a boost thanks to access to the improved facilities. Business owners will also reap the rewards with enhanced footfall securing high ROI.

Like my fellow residents and business owners, I too am urging the redevelopment plans for Swansea city centre and seafront to go ahead sooner rather than later. I know I speak for many when I say that Swansea as a whole is tired of so many false dawns with delays relating to rail electrification, the procrastination of tidal lagoon and the job losses at Tata Steel just some of the issues casting negativity over whether this particular regeneration project will get the green light. This city really needs this development to happen for the reasons stated in this article and so many more!

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Dawsons hammer home the success of auctions

This year has been a hugely successful year for Dawsons Auctions! Whether you are looking to sell a property with potential or purchase that perfect project property an auction could be for you.

In the past year Dawsons has been taking project properties and selling them to the highest bidder with great results.

An increased demand for both vendors and purchasers has been proved in the yearly results. In the past 12 months Dawsons Auctions has been hugely successful – 91% of properties on the auction book sold! At the last auction on 7th October, 94% of properties sold.

For a vendor looking for a speedy sale and certainty that a buyer won’t pull out auctions are the way to go. Once the hammer falls, the buyer puts down a 10% deposit and is given one month to pay the 90% of the cost.

Auction is also the perfect environment for buyers who are looking for a project property that they can then live in, convert for a rental income, or fix and re-sell.

“Buying a house or flat at a property auction is a much more transparent way to buy a house. You’ll see other bids as they are made, rather than having to take the estate agent’s word for it,” said Julie Lawry of Dawsons Auctions.

With the last auction for 2015 just finished, Dawsons Auctions has no intention of slowing down next year. To find out what all the excitement is about join us for next auction in 2016, 24th February at 3:00pm at the Swansea Marriott Hotel.

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Tax changes to buy-to-let – how it will affect landlords

In the first all-Conservative budget since 1997, the Chancellor, George Osborne, announced the amount of tax relief that landlords will be able to claim on the interest of their mortgage payments will be reduced.

The changes mean property investors who currently claim top rates of tax relief of 40% and 45% will only be able to claim relief in the future at the basic rate of tax, currently 20%. Here David Treharne of Mortgage Advice Bureau discusses how this will affect landlords.

What is tax relief?

Tax relief is something that allows you to pay less tax so you can account for money you need to spend on things like expenses. It can also allow you to get tax repaid in other ways, such as straight into a personal pension.

As landlords, as your buy-to-let properties are classed as self-employed businesses, you are currently able to get tax relief and deduct some of your running costs from your taxable profit, so long as they are allowable expenses.

How will the tax rates change?

Under the new rules, landlords will not be able to deduct the cost of the interest on their mortgage from their rental income.

For example, currently, if your property earns £20,000 per year and the interest-only mortgage costs £13,000 per year, you will pay tax on the £7,000 profit. If you currently pay the higher 40% tax rate, this means you will pay £2,800 in tax per year.

Under the same circumstances in 2020, however, the full rental income of £20,000 will be taxable by 40%, if you fall under this tax bracket, meaning, after taking away the new basic-rate tax relief of 20% on your interest-only mortgage payment of £13,000 (20% of £13,000 = £2,600), you are left to pay £5,400 per year – an increase of 93%.

That sounds confusing. Will these changes be implemented over time to give landlords chance to adjust?

The withdrawal of the higher-rate reliefs will be phased in over a period of four years, in order to help landlords adjust to the lower relief level, and nothing will happen until April 2017.

It will then be implemented in four stages:

Stage one
From April 6th 2017, the higher-rate tax relief can still be claimed on the first 75% of your mortgage interest costs. The remaining 25% will have the basic rate of tax relief applied.

Stage two
From April 6th 2018, the amount of tax relief you can claim at the higher rates will drop to 50% of your mortgage interest costs. The remaining 50% will have the basic rate of tax relief applied.

Stage three
From April 6th 2018, the higher-rate tax relief can only be applied to 25% of your mortgage interest costs. The remaining 75% will be at the basic rate.

Stage four
From April 6th 2020, you will only be able to claim tax relief at the basic rate level.

If you have any furnished holiday lets, this restriction will not apply.

These changes will be published and are expected to be passed in the 2015 Summer Finance Bill.

How can you assess the impact these changes will have on you? 

There is still time for landlords to forward-plan so they do not have to suddenly increase rents. For any landlords currently investing in property, or considering expanding their portfolio, it is wise to speak to an independent mortgage adviser to discuss these changes. It is also worth talking to a property tax expert to see if there are any other tax breaks you could take advantage of.

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Leading South Wales estate agency earns national recognition

Dawsons is celebrating after winning a national estate agents award for outstanding customer service.

Their Mumbles office has been singled out from 1,500 estate agents to be named UK estate agent of the week by Rateragent.

The two staff members who were singled out for outstanding customer service were lettings negotiators Rhodri Francis-Hopkins and Sammantha James.

“This great recognition once again reaffirms the level of customer service and client satisfaction we strive to achieve,” said Ricky Purdy, Director of Lettings at Dawsons.

“Our customers have taken time out of their busy days to acknowledge the service, the branch they have dealt with and importantly the individual staff members.

“We really do appreciate this. Its great to see our consistency of service levels is meeting the high expectations of our clients.

“This UK agent of the week together with other recent accolades is very much what we aim to replicate during the remainder of this year and the start of 2016.”

Rateragent is Tripadvisor equivalent for estate agents for the UK. It is based on the quality of service and positive reviews received from both landlords and tenants.

“I am really please to have received the recognition, and that our landlords and tenants are taking time to post reviews. We have a great group at our office, and the awards are a result of our team effort,” said Sammantha.

Rhodri added: “It was a great surprise receiving the award. It really wasn’t expected, but it is something I am very proud of.”

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Chris Hope, Dawsons Senior Director

To buy or rent – the great debate that rumbles on

It is one of life’s great debates that often dominate our lives year on year: is it better to buy your own home or rent someone else’s?

The simple answer is: there is not right or wrong decision, but financial trends – a stable or unstable economy – will often dictate that decision.

Here Chris Hope, Senior Partner at Dawsons Estate Agents, weighs up the pros and cons of the buy or rent conundrum.

“People are always asking what is the best course of action when it comes to buying or renting,” said Chris.

“Of course personal circumstances will always dictate and every four or so years the buy/rent debate shifts one way or the other.

“To be perfectly honest at the moment it is probably a 50/50 scenario when looking at a decision to buy or rent.”

Just to put into context Chris gives an example of a three-bedroom terrace in the Morriston area of Swansea.

At around £100,000 to buy that would give you a £385 per month on a typical 25-year mortgage with a 10/15% deposit. That would compare to £500 rent per month.

“So looking at the averages there is not a great deal of difference when you take in consideration the buyer’s initial outlay with a deposit,” reflected Chris.

“Looking at it historically – 20 years ago those that rented were those who couldn’t afford to buy.

“But whereas there has been a social status element with owning your own home it’s nowadays become a lifestyle choice. Renting is now socially acceptable, and to put that into perspective in our Marina Office we only have one or two lettings properties at any one time. The demand is that great.

“Renting now gives young professionals flexibility. The fact the house needs painting or decorating is not longer and issue. You can just move!

“The culture has definitely changed – renting is a socially accepted way of living. Renting has given people freedom and gives you flexibility and latitude, especially when a career may take you around the country.”

But where rent gives you flexibility and no real ties buying is seen more and more as an investment. For instance fairly recent figures from Santander Bank indicated that ‘lifetime renters’ who never manage to climb on to the property ladder are likely to hand over around £300,000 to private landlords during their lives.

“But rental does look attractive especially when you look at people who have bought at the wrong time have been caught in a negative equity situation – that brings it’s stresses and strains,” added Chris.

“Despite that, compared to other countries such as USA and Germany we are still largely a nation of homeowners. Some people see an investment in a property is an extra pension at a time when pensions cannot be relied on to fulfil financial needs in retirement.

“There is still an advantage on buying a property because of the basic economics of what it costs to buy compared to cost of rent.

Having a mortgage-free environment is a comfort blanket.”

To put that into perspective a recent survey from HSBC talked of a growing divide between property ‘haves’ and ‘have-nots’.

Analysing that the generation of owners who bought in the early 1980s tended to become mortgage-free at 56. Recent buyers – average age 29 – are expected to be mortgage-free at 60, whereas young people who say they do not expect to be able to buy until age 35 are likely to be approaching 68 before they own a home outright.

In conclusion Chris says: “There is no right and wrong to be honest – but it changes its balance determined by financial stability.”

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Leading Swansea estate agent gets the Relocation Agent Network seal of approval

Dawsons Estate Agents has announced that they have been selected to be part of the Relocation Agent Network, an independent network of agents serving Wales, England and Scotland.

The independent estate agent is now officially Swansea’s Local Expert, and while continuing to deliver a range of property services from their eight branches, Dawsons will provide the national touch to ensure those looking to move in or out of the area have the expertise they need to make their transition with confidence and clarity.

“We are privileged to have been selected as the ‘best of the best’ within Swansea and Llanelli,” said Chris Hope, Senior Partner at Dawsons.

“Besides dealing with clients’ relocation needs, there are many advantages to being involved in such a scheme. With regular forums of representatives from individual regions, Dawsons is in a positive position to receive first-hand information regarding how market trends are changing giving us and our clients the means to adapt to current market conditions.”

As a Relocation Agent Network member, Dawsons will be able to provide great agent contacts for clients moving to a new area. Their representatives will even individually introduce those looking to relocate to an agent so they can get the information they need to make a sound decision about their new home area.

“Those selling will also have a distinct advantage thanks to direct access to the network of motivated buyers who are moving from other parts of the country into Swansea and Llanelli,” added Chris.

“These buyers are initially only introduced to Dawsons as agents of the network, therefore Dawsons clients get the first opportunity to find the right buyers who are moving into the area from around the country.

“No other Swansea or Llanelli based agent can offer this unique service, and we look forward to helping clients throughout the region find their next new home, whether they are moving into the area or a little further afield,” explained Chris.

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Estate agent joins in Mumbles summer night’s extravaganza

Staff at Dawsons Estate Agents office in Mumbles offered free face painting, balloons and sweets as part of the village’s Summer Night’s Dream event on Thursday night.

Newton Road was shut to traffic from 6pm until 10pm on Thursday evening with a host of activities going on including a Samba Parade, a general street parade and The Wave Stage.

“We were busy all night. We gave away more than 60 balloons and it was great to see so many families out and about in Newton Road having so much fun,” said Mumbles Branch Manager Tom Hope. Continue reading