{"id":9979,"date":"2019-10-07T10:17:12","date_gmt":"2019-10-07T09:17:12","guid":{"rendered":"https:\/\/www.propertypartner.co\/blog\/?p=9979"},"modified":"2020-10-09T15:26:16","modified_gmt":"2020-10-09T14:26:16","slug":"revaluation-30-september-2019","status":"publish","type":"post","link":"https:\/\/www.londonhouseexchange.com\/blog\/revaluation-30-september-2019\/","title":{"rendered":"REVALUATION: PROPERTY PERFORMANCE UPDATE AT 30 September 2019"},"content":{"rendered":"\n
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\u2022 <\/strong> Latest property revaluations show a marginal reduction of 0.05% since March 2019<\/strong><\/h3>\n\n\n\n
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\u2022 Total return of 6.0% p.a. since launch<\/strong><\/h3>\n\n\n\n
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\u2022 Total return over the past 12 months is 3.5% across the portfolio<\/strong><\/h3>\n\n\n\n
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\u2022 Assets under management increased by \u00a35.4m in the six months to 30 September, reaching \u00a3139m<\/strong><\/h3>\n\n\n\n
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\u2022 First development loan investment repaid delivering a 10% p.a. total return<\/strong><\/h3>\n\n\n\n
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The UK property market has continued to demonstrate resilience and stability, with residential prices increasing by 0.7% over a 12 month period to end July 2019 according to the Land Registry UK house price index. Overall transaction levels at a national level have begun to slow in the face of unprecedented political uncertainty, showing a decline of 3.1% to the end of August 2019 compared to the previous 12 month period. Markets have continued to diverge regionally since the EU referendum, with prices now weakening in the North East, some areas of London and the South East.<\/p>\n\n\n\n

For the past three years, we have focused our investments on higher yielding areas outside of London and have bought higher yielding asset classes to the platform, such as Purpose Built Student Accommodation and development loan bonds. In Q3 2019, we completed our first holiday let investment, with the Bath and Oxford portfolio let to StayBeyond. And we acquired our first PBSA acquisition benefiting from a long lease to a university, at Ramsay Place, Aberdeen. <\/p>\n\n\n\n

The quarter saw the repayment of more than \u00a31.3m in capital and interest to investors from our first development loan investment at Regent House, Basildon, and the sale of unit 18 in Golden Hill Fort for a net capital return of 95% on equity, just 12 months after its purchase. Click here<\/a> to learn more. <\/p>\n\n\n\n

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Latest property revaluations show a reduction of 0.05% since March 2019<\/strong>
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Every six months, Allsop LLP, an independent, RICS-accredited surveyor, re-values the residential properties on the Property Partner platform. The PBSA properties are re-valued annually in September by independent RICS accredited surveyors. 
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The result was a marginal decrease of 0.05% in the value of properties in the portfolio. The residential properties in the portfolio increased in value by 0.1% since 31 March 219. The PBSA properties declined by 0.6% since the 30 September 2018 revaluation.  The PBSA decline is the result of a fall in the value of Viaduct Works, Huddersfield – of the other 7 PBSA properties which were revalued, 4 increased in value and 3 remained the same. 
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Of the 105 properties that were revalued at 30 September 2019, 11 saw an increase compared to their previous revaluation, 71 remained unchanged and 23 experienced declines. Of the 34 properties that experienced an increase or decrease, the 11 below had meaningful changes. You can read more about the reasons for these changes on the individual property pages.
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Properties that experienced meaningful increases:\n<\/strong><\/p>\n\n\n\n