An Investigation into South London Property Market Success Factors

This dissertation, submitted by a student with ID MAS15403343 for the BSc Business Management program, investigates the critical success factors affecting the profitable selling and management of residential property, using the South London house market as a case study. The research delves into the historical context of the housing market, examining the cyclical nature of price fluctuations and the importance of informed decision-making in property transactions. The project explores key areas such as property investment planning, identifying potential, the role of landlords, and various selling and buying methods (estate agents, auctions, private sales). The methodology includes research design, approach, philosophy, data collection, and analysis. The study aims to identify factors influencing profit decisions, predict future house price changes, and evaluate the impact of repairs and renovations on property value. The dissertation also addresses research limitations and offers recommendations, providing a comprehensive analysis of the dynamics of the South London property market and strategies for successful property ventures. The literature review covers various aspects of property investment, from maximizing profit to understanding market value and making properties attractive to potential buyers. The research questions address the critical success factors in selling and renting property, and how these factors affect profit decisions and future price changes, considering demographic, economic, and policy-related influences. The project concludes with a discussion of research limitations and recommendations for future research in this area.

Student ID Number MAS15403343
Programme Title Bsc Business Management
Module Title
Business Management Dissertation 1
Module Code QAB020N503S
Module Convenor Grace Mansah Owusu
Coursework Title
An investigation into critical success factors affecting the profitable
selling and managing of residential property: A case study of the
house market in South London
Word Count
7988
Date Submitted 26/12/18
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Contents
Title of Project Proposal........................................................................................................................3
1. INTRODUCTION.............................................................................................................................3
1.1 Identify a specific researchable topic area:..................................................................................4
1.2 Establish the importance of the problem......................................................................................4
1.3 Aim of the research project..........................................................................................................5
1.4 Background of research...............................................................................................................5
2. RESEARCH OBJECTIVES..............................................................................................................5
2.1 Research Questions......................................................................................................................6
3. LITERATURE REVIEW..................................................................................................................6
1. Planning property investments.......................................................................................................9
2. Identifying property potential......................................................................................................10
3. Landlords Role in property investment........................................................................................11
4. Selling & buying property...........................................................................................................11
5. Investing in buy to let passive income.........................................................................................11
6. Selling& buying through an estate agent.....................................................................................11
7. Selling & buying through Auction...............................................................................................12
8. Selling & buying privately...........................................................................................................12
4. RESEARCH DESIGN AND METHODOLOGY............................................................................12
4.1 RESEARCH TYPE...................................................................................................................13
4.2 RESEARCH DESIGN...............................................................................................................13
4.3 RESEARCH APPROACH........................................................................................................13
4.4 RESEARCH PHILOSOPHY.....................................................................................................14
4.5 DATA COLLECTION METHOD............................................................................................14
4.6 SAMPLING METHOD.............................................................................................................15
4.7 DATA ANALYSIS PLAN........................................................................................................15
4.8 ACCESS TO DATA AND RESEARCH ETHICS....................................................................15
5. DATA ANALYSIS AND INTERPRETATION.............................................................................16
6. RESEARCH LIMITATIONS, RECOMMENDATION AND CONCLUSION..............................24
6.1 RESEARCH LIMITATIONS:...................................................................................................24
6.2 RECOMMENDATION.............................................................................................................24
6.3 CONCLUSION.........................................................................................................................25
6.4 VALIDITY AND RELIABILITY.............................................................................................25
REFERENCES....................................................................................................................................26
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Title of Project Proposal
An investigation into critical success factors affecting the profitable selling and managing of
residential property: A case study of the house market in South London.
1. INTRODUCTION
Historically house prices, renting and letting prices go up or down. From time to time, we can
see the housing market boom or bust. Despite this, the practice of buying, selling and letting
houses remains one of the most important activities undertaken by people in their lifetime.
Different people buy houses for different purposes, some for private use, some for making
money on it (James, 2015).
The UK property market [in October] accounted for 102,530 residential and 11,220 non-
residential transactions. (UK Property Transaction Statistics, 2018) The residential market is
huge, the problem is how to find the right property for a good price for the right individual,
and how to organise the effective management and improvement of that property for further
profitable selling or letting. In order to make a profit from buying, selling and letting houses,
a person must have trading skills and understand the niceties of the product. In the UK exists
about 25 million homes, from those homes 69% are owner occupied. The number of
homeowners over 17 million and numbers are growing year by year. In the first property they
buy less than one in five homeowners live all they live. During them life times over 80% of
homeowners will be selling their houses at least once, and most of them will sell more than
two times. A big lucrative industry has been created for this reason around property
transactions to satisfy demand people to buy and sell they homes. The practice showing that
proses of selling and buying homes may be complicated it can takes a long time, and
mistakes may cause a losing of money and time. If the process of selling or buying houses
taken without experience, knowledge and professionals it can bring stress and delays.
(Yvonne Jackson, 2013)
To train sales personnel [in an estate agency?], companies invest large sums of money. For
most companies a sales person is the most important link between customer and seller. To get
a profitable deal people who buy and sell houses for profit must understand clients’ needs and
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demands, to know how to satisfy them, and add value to the product. In some cases
customers do not recognise their demand, in such cases it is the sales person must identify
this demand. (Jober 2015)
Explore what are the main reasons of losing money in property market and how to make
money on renting houses.
Recent history in the housing market has shown that many people lost their money, especially
those who invested in property between 2001 to 2007. At the beginning of this period, the
house market was booming, and [than fool –OR- many people rushed to buy, some anxious
not to be priced-out, others fooled, in anticipation that the boom would not end]. This was a
time of low bank interest rates and high mortgage availability, which allowed and encouraged
people to buy houses they could not afford using loans they could not manage in future. [This
was cynical and predatory lending.] House prices were growing [in the form of a bubble]
until banks reset loans, after this prices collapsed, [many buyers then faced the prospect of
both negative equity and repossession].
Is it possible to predict this type of house market collapse? The good investor understands
that there is no investment without risk. But what are the factors that can show where the
house prices will go in the future and what precautions can the house buyer use to mitigate
the risk of losing the money. (Green, 2018)
1.1 Identify a specific researchable topic area:
Explore the ways of making profit on selling and letting residential property in
London. Analyse ways of increasing value of the house for profitable sell. Analyse evaluate
and compare effect of repairs and renovation on house price. To give a reason and evidence
why real estate is a good investment.
1.2 Establish the importance of the problem
It has become very popular to invest in property. This demands exploration of the
main reasons for losing money in property market and how to make money on renting
houses. Recent events in the housing market showed that many people lost their money,
especially those who invest in property between 2001 to 2007. At the start of this period,
the house market was booming and then fool. During that time low bank interest rate and
mortgage availability allow people to buy houses they could not afford using loans which
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they could not manage in future. House prices were growing until banks reset loans, after this
prises collapsed. Is it was possible to predict this house market collapse? The good investors
understand the is no investment without risk. But what are the factors that can show where
the house prices will go in the future and what precautions can take house buyer to mitigate
risk of losing their money. (Green, 2018)
1.3 Aim of the research project
Evaluate the ways in which some organisations or individuals do things differently. Identify
critical success factors selling property affect the profit decision. Finally give prediction for
future house price changes.
1.4 Background of research
In this study, the south London property market will be studied. As it is known that
London is a higher attractive place where tourists are present all the time and thus it is
considerable known to people that the house prices there are considerable higher than others
places in UK. There, the house prices are increasing faster than the country as a whole. From
a longer time, it is seen that the housing market of London is seeing ups and downs, with
volatile house prices in London tending to amplify changes in national house prices (Minton,
2017). London has also seen quite a few episodes of real house price deflation since the ONS
data series began in 1969. In this report, it will be seen that there are various kinds of factors
that affect the buying and selling of the residential properties in London or in any other
country/city. In south London, the prices are high already and with more developments there
the prices are soaring high. From the previous reports of GLA housing and Land, it is
revealed that the housing pricing in London is declining on continuous basis and the buyers
interest in buying the houses are increasing gradually. The situation itself is not that good for
people who are planning to sell their houses in London but if someone is planning to
purchase the houses then they can do as at this time, they will get the house comparatively at
a less price. So, the decisions need to be taken by doing proper research (House prices in
South London, 2020).
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2. RESEARCH OBJECTIVES
The main objective for this research is to explore the ways, benefits and process of how to
make a money in house filled market. This will be achieved by giving answer on research
questions.
2.1 Research Questions
Which critical success factors of selling and renting property affects the profit
decisions in house market.
Sub questions:
o Demographic
o Interest rate
o Economy trend
o Government policies
· Investigate how critical success factors selling property affects the prediction for future
house price changes.
Sub questions:
1. BREXIT effect
2. Labour force in UK
3. Wage rate
4. Spring boom
5. The best month to buy and sell
6. Green signal to HS2 and it effects on London or Bham prices
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3. LITERATURE REVIEW
How to maximise profit? Making a profit from the buying, selling or letting process consists
of four main steps: finding and buying property for a good price, preferably below market
value; making the right improvements and changes for adding value and attractiveness for
potential customers or loggers; control finance by taking in account tax payments and other
side costs; find a customer and take highest possible price. (Holmes, 2008)
The obvious reason why people want to be a landlord is financial profit which letting
property can provide. The advantage of renting property is that the return is generally more
stable prices than in market property prices. With regular income from letting property a
landlord also can benefit from the rise in property value. Property is a form of investment
offers the landlord more control over their investment, than people invested in shares, stocks
and bonds, and can further increase income by right house improvement and management.
(Faulkner, 2013)
What are the critical success factors for profitable buying and selling and renting property?
How to distinguish a potentially good offer for buying a house? To understand what price to
pay for initial offer, the house buyer must define how much they are ready to pay for the
property, with regard to its market value and potential. Market value is a price which other
buyers are willing to pay for the same product. For understanding what is a good offer, it is
required to analyse similar sales, property conditions and conditions of the market. (Boss Jr,
2018)
Investigate which houses are most popular in South London area.
How to make house attractive for potential buyers? The main factor which usually attracts
potential buyers is the price. If the price for the property compares well to other similar,
houses, [are lover –OR- within the range or lower], the property will be sold faster. When the
right decision about the price has been made, the next step is to make house more
presentable for potential buyers.
For making property more presentable it is sensible not to spend a big amount of money for
it, because it may not then give the desired return and invested money will be lost.
(Fastmove, 2016) Making small adjustments and improvements which make house more
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welcoming and inviting will give a good impression and can influence on the customer
decision. Little things like broken tile in kitchen or bathroom, scratches and cracks need to be
fixed. The best way to determine what to improve is to look at every room from the buyer’s
point of view, to make a list of what has to be done to make a house more presentable. Many
people have a strong opinion about maintaining clean and tidy house. Clean and tidy houses
are more appealing for the customer. Whereas clutter in a house can make a room appear
small and dirty which makes it unappealing to buyers. Things like painting and lighting must
be taken into attention for improvement in order to add attractiveness to the house. (Gassett,
2016)
The marketing, selling and renovation of property can help to achieve desired profit. Smart
marketing can bring profit from very small additional improvements. On the contrary, poor
marketing can delay sale and bring price of the property down, to reduce the desired profit.
Successful investors and developers put a lot of effort into marketing their property. The key
factors in selling property are: price, timing, promotion, presentation, salesmanship.
Identifying the right price for a renovated property is always difficult. Asking a very high
price may discourage potential buyers; a low price can make buyers think there is something
wrong with the property. The time of the year plays a significant role in selling renovated
houses. The best period for house sales is in Spring and Autumn. Usually the longer the
house stays unsold, suspicions can grow as for the reason, in potential buyers and it becomes
more difficult to sell the house. For this reason it is advisable to remove the property from
sale for a few weeks and then put it back to market.
Promotion provides information about property for as many buyers as possible and can create
maximum interest for selling property. This may include advertising on websites, newspapers
or by putting a sign outside the property. Presentation can make an influence on a buyers
decision, complementary with instinct and common sense. The factors that influence instincts
are very sophisticated. Small details can be significant, like a pleasant smell of nice flowers
or fresh coffee; décor can act positively on a buyer’s decision. The sales ability of a good
estate agent can include a consultation about the sales potential, which improvements will
help to sell the house, also help to value it at the right price, to manage the viewings. It is
important to choose a credible estate agent which specialises on the type of property the
vendor or developer wants to sell. (Holmes, 2008)
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Investigate What are the most effective ways to find customers.
Explore what are the main reasons for house price changes. Factors that influence house
market will help to make prediction for house prices in future. There are nine main factors
influencing on house market:
State of the economy. In a growing economy, peoples incomes may generally be expected to
rise, and demands for housing to increase, resulting in rising prices. Equally, if the economy
declines people lose their jobs, income decreases, and they may not afford to pay mortgages,
resulting in house prices falling.
Employment. When the rate of employment is high, house prices will go up. But if the
employment falls, or even under the threat losing their jobs, people will start to spend less,
the house market will go down.
Interest rates. If the banks increase interest rates monthly payments on mortgages will go up
and make for some people, the option of renting a house will be more attractive than buying.
This factor will affect house prices.
Mortgage availability. If people can obtain a mortgage on less onerous terms, they will have
more potential for buying house this will affect house prices.
Supply. Excessive supply will reduce house prices. (Pettinger, 2017) The shortage of
money can be a reason people lose their houses, when they cannot pay they mortgages. It is a
good practise to keep a six month reserve for every owed property. Most of the people make
mistakes in the house market by following others and by doing what other say instead of
make their own decisions based on financial principles. Generally it was when everyone is
buying it good time to sell and when everyone selling is a good time to find the best deals.
Avery important factor in choosing property is location. Experienced dealers look for and
buy undervalued properties in good areas which can produce a positive cash flow from
renting, to then add value by making repair or changes. If the decision is to withdraw the
house, or defer to wait for better time for sale, they can benefit from positive cash flow and at
the opportune time, they may sell the house with profit. It is good practice which can help
investors to save money is to learn from the other people mistakes. (Greene, 2018)
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1. Planning property investments
It is widely known that London is always covered with a flock of tourists because of
its beauty and attractive destinations and this is one of the reasons that London is considered
the place to invest in property. There are so many workers come from overseas and also the
investors that come to London frequently for taking advantage of the opportunities available
in the city (Badarinza and Ramadorai, 2018). Therefore, London is always on the top priority
of the people for investing their money into properties. But the main thing is that the investor
will have to check their affordability and demand before doing property planning in South
London. To plan the property investment, the person must select the areas after getting its
complete information because if the decision is not taken properly then the investment might
suffer due to low rental yields, dwelling demand, and slow property price growth as well. But
for the people who are making plans for investing in London property are facing issues
related to the continuous high prices of the London properties and also with the decreasing
rental price growth, the rental yields have also disappointed the investors (Wind, B. and et.
al., 2019).
The case is that if an investor is buying the property for giving it on a rental basis further then
the investor will get less return on investment as compared to the returns they would have got
if they had invested into some other place in the UK. The reports also say that people are now
making plans to leave London to take advantage of the housing market, universities and
business opportunities on the Northside of the UK.
2. Identifying property potential
Before investing in the property at any place, the investor must check whether the
property has some potential or not. There are many ways with which the investor can check
the potential of the property (Identifying the potential in properties, 2020). These are as
follows:
1. To check the foundations – It is necessary to check that whether there are any large
cracks in the walls or ceilings, the walls can be painted properly, the floors are
flourished and the bathrooms are ok or not.
2. Check the height - This is also one of the main aspects that people look at while
making a home or an investment. People see that whether the view is coming great or
not. People often don’t know that the houses which are set in low areas can also enjoy
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a great view. so buyers often check the height at which the house is situated to ensure
their pleasant view. If the view is coming great then people buy the product at a
higher price as well but if the view is not that good then selling that house at a higher
rate is generally not possible.
3. Public transportation – It is very necessary to check that what are the convenient
transport facilities available near the location because if there will be no busses or
auto stands near the locality then it will be difficult for the person to adjust in that
locality. As south London is a posh area so the transportation, recreational facilities
will be good there but for buying a property in other areas, public transportation is a
must check (High potential investment properties, 2020).
3. Landlords Role in property investment
A landlord can be defined as an individual or a business or an entity who generally
owns a real estate property. It is up to them that what they do with it i.e. either rent it or lease
it or sell it. The Landlords play a very crucial role while doing property investment because if
there is a landlord it means that the property is being sold again (Watt and Minton, 2016).
The landlords create problems in selling the property to the buyer by taking out various kinds
of issues like the amount is not acceptable etc. So, it is very necessary for the buyer that they
talk to the landlord before thinking of purchasing thr property as later on issues can be
created by them.
4. Selling & buying property
Buying and selling a property in London or any other place is not an easy task. While
buying a house, lots of things needs to be checked like the amenities are good or not, the
location, the recreation facilities, amount etc. The buyers need to check all these things before
making a decision of buying a property. In London, the prices of properties are going down
so people have started thinking that whether they should buy the property or not. In case of
selling also, lots of factors are required to check like the buyer is good or not, the amount
they are paying is ok or not tec. There are much more factors but all these are checked and
then only a house is sold. So, is it London or any other place, buying and selling of a property
require time and patience (Pennell, 2018).
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5. Investing in buy to let passive income
Passive income can be defined as the term which is used for the money which is
earned from the source which does not involve much effort from the person. There are many
times that people invest in the real estate properties just to give it on rentals so that passive
income can get started (Atkinson, 2019). Therefore, people are investing their money in
properties as they think that it will be double benefit i.e. they will have a house and the
passive income will come as well. so, investing in real estate to earn passive income is not a
bad idea as it eventually provides profits to the investors as a whole.
6. Selling& buying through an estate agent
There are many times that the house are bought and sold with the help of a real estate
agent. They are the ones who gives leads to the sellers and the buyers for selling and buying
their home. They take a commission for doing this work which is also called as brokerage.
These agents keep complete information about each and every property and when a buyer
comes to them they help them in selecting the properties as per their budget and interest. For
buying a house in South London, these kinds of agents can be of great help.
7. Selling & buying through Auction
Auction can be defined as an event where the houses are sold to the highest bidder at
a public place. The investor needs to be very clear before buying a house through auction
because here the authorities does not allow the home to get inspected before selling and they
often do not provide complete information about the property as well. it is always suggested
by real estate agents that buying a property through auction is a bigger risk than buying a
property through a usual process (Best and Kleven, 2018).
8. Selling & buying privately
If a seller is selling the house to a buyer in a private deal then here the risk gets
bigger. It is because less people are involved in this process and in case of any issues further
then the seller cannot complaint to anyone. But this is a very way as well because people like
to sell their homes or properties privately as they think that the broker might charge high fees
so to avoid such things, they decide to sell the house in this manner. The same thing happens
with the buyer as well because they also think that the agent charges can be avoided if they
find a house by their own (Right time to buy property in LONDON, 2020).
Websites:
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https://www2.gov.scot/Resource/Doc/1125/0065334.pdf
https://www.theweek.co.uk/104924/house-price-predictions-best-time-to-buy-or-sell-in-2020
https://www.investopedia.com/articles/mortages-real-estate/11/factors-affecting-real-estate-
market.asp
4. RESEARCH DESIGN AND METHODOLOGY
It is considered as one of the most important part of the dissertation as here all those activities
are included which are necessary for conducting an effective research process. With the help
of this section, The investigator is able to identify the strategies as well as methods which are
suitable for this research project. In this, several sub sections are included like research
approaches, philosophies etc. All these play a vital role in making a research project
successful. It can be assumed as a roadmap which is being created by the researcher for
completing this research project in a successful manner (Korthals Altes, 2019).
To answer the research questions and achieve research objectives, will be a used secondary
data source which includes: online journals, text books, published articles, and statistic
data.
First data sources which include: information gathered from estate agencies and people who
have experience on buying house in South London. The research questionnaire will be
designed to help active the aim and make an objective picture on the subject.
4.1 RESEARCH TYPE
This is the first step which is taken by the research i.e. deciding the type of research.
All the other decisions related to the research is taken after this. There are various types for
conducting a research for achieving the aims and objectives; these are qualitative research
and quantitative research. It depends on researcher that which kind they find suitable for their
research (O’Brien, P. and et. al., 2019). Under Quantitative research, the data is been
gathered with the help of statistical methods and under Qualitative method, the data is being
collected by making use of theories and journals and the focus is on quality of data as well. In
this dissertation, the researcher is planning to use qualitative method for investigation. The
decided this because here the discussion is being on the profitable selling and managing of
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the residential properties which means that there will be less utilization of figures and more
facts will be covered.
4.2 RESEARCH DESIGN
This is configured as the blue print of the activities which are required to be
conducted in the research process because here all the detailed information about the
activities which will be covered in the research process will be covered. It is very essential
that the project manager is given the responsibility to make the research design as they will
be able to do this work in a proper manner (Lizieri and Mekic, 2018). The types of research
design include experimental, descriptive and exploratory research. The design which is
selected in this dissertation is exploratory research design because it goes fine with the
qualitative type of data. So, researcher has selected appropriate research design according to
their needs as well as wants in order to draw a valid conclusion in a suitable manner in given
time frame.
4.3 RESEARCH APPROACH
It is also considered as an important part of this section because it provides right
direction to the researcher for conducting its activities in an appropriate manner. There are
two kinds of research approaches namely; Inductive research and Deductive research. In a
deductive research method, the work is being conducted from general to specific manner and
in case of Inductive approach; the work gets extended from specific to broader one (Beswick,
J. and et. al., 2016) . Both these approaches are good in their own way but one can be applied
in the research process. So, in this dissertation, the investigator will implement inductive
research approach so that the investigation related to south London house market can be done
in a proper manner. With this, the investigator will be able to conduct their research activities
in the right direction and corrective results can be attained.
Type of investigation: descriptive, explanatory or hypothesis testing study.
In descriptive part of study will be used existing information and facts from various
credible data sources. Explanatory part of the study will identify and analyse factors which
influence housing market. To make most accurate prediction will be analysed and asset house
prises in past. Attention will be taken to period of time from 2001 to 2007 when prices grow
fast and than people loose they money because house market collapsed (Scanlon, K. and et.
al., 2017).
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4.4 RESEARCH PHILOSOPHY
It can be defined as a process which the information related to the research project can
be collected, used and analyzed in an effective manner. This is also considered as a crucial
section of research methodology. Research philosophies are of two types which are
Positivism and Interpretivism. Basically wile studying this section of research, the
investigator gets the views from various kinds of experts and writers which is very effective.
In this dissertation, the investigator will make use of Interpretivism research philosophy
because it is suitable for this kind of research. Also, the research is being conducted on the
house market of south London and buying and selling of properties will be talked upon so
therefore, the researcher though of using this as a correct method of analyzing the activities
and conducting the research process effectively (Ronald and Kadi, 2018).
4.5 DATA COLLECTION METHOD
Questionnaire to estate agents via email and in person. For the research purpose short
and simple questionnaire will help gather required information. The questionnaire will be
sent to estate agents by mail, some estate offices will be visited in person and face to face
questions will be asked. The more challenging part of this research will be finding,
interviewing and listening to real estate investors. This data collecting method is cheap and
easy affordable. For convenience reasons questionnaire will be short and not going to take
more than five minutes. This method will allow to gather information from large audience
and make easy analyse of the data information. (Debois, 2016)
Data collection is considered as a very important part for every research project. There are
two methods through which the researcher can collect the data. These are primary method
and secondary method. These methods are explained below:
Primary method - Under this, the data is collected for the first time by the researcher.
It is considered as more reliable method because the data which is being utilized here is not
been used in any other research so there are no chances of copyright issues. The sources can
be observations, focus groups, case study, questionnaire etc.
Secondary method - In this, the data which has already been collected by other
researchers for their projects are used while conducting the research activities is utilized
(Scanlon and Whitehead, 2016). It is also used mostly by the small as well as medium size
companies who do not have much time and resources for collecting new data. The sources
include newspapers, journals, books, magazines etc.
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In this research, the investigator will implement both primary as well as secondary data in
this research project.
4.6 SAMPLING METHOD
The researcher will use co-relation model to see a linkage between hypotheses. And
some empirical formula analysis for prediction of house prices in future. The research will
target estate agencies house investors and property developers (Fernandez, R. and et. al.,
2016). The research study participants will be able to offer the right type of information from
questionnaire to enable explore the research problem. By analysing past and present facts
influencing house market will be made prediction for future house price changes.
4.7 DATA ANALYSIS PLAN
After collecting data will be finished, next step will be summarising, interpreting and
analysing data. This analysis will be based on statistical model and for arranging, sorting and
classifying information will be using SPSS (Statistics Package for Social Scientists), dexcel
statistical overview program which will help draw a conclusion.
4.8 ACCESS TO DATA AND RESEARCH ETHICS
4.8.1 Accessibility issues: Data accessibility is reflection of the research proses. (LabKey,
2018) Data can be accessed through popular websites. For existing house sell and renting
prices, research
analysis www.hometrack.co.UK, www.rightmove.co.UK,www.assertahome.co.UK, www.p
ropertyfinder.co.UK, to contact agents www.homesearchbureau.co.UK. For house prises
analysis in the past UK national statistic and newspapers like Guardian. Local estate agencies
are available. All gathered data will be analysed compered and systematized for research
purpose.
4.8.2 Ethical issues: Citation. The big ethical issue in renting property takes racism. Some
UK landlords do not want to rent their property to “coloured” people. Some of the UK
property landlord instructing they letting agents not to let they property to “coloured people”.
Some of them made “offensive directives” stating who can and who cannot rent they
property. In the list of unvented lodgers included single parents, zero hours, low income
workers and plumbers. After this information come to media many people condemned this
kind of inacceptable behaviour. The spokesman stated that we cannot treat people like this
and deny them only because colour of their skin. This behaviour showing unacceptable
housing racism in UK. It is not a criminal offence to refuse any group of people from letting
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them a property for owner in UK, but this landlords behaviour breaks a civil law. Tenants
have the right in a case of discrimination take landlord to court (Giannetti, R. and et. al.,
2018). Despite of the civil law protecting people from discrimination it is difficult to prove in
a court that landlord is guilty, therefore it is more ethical issue which comes with upbringing
people in ideas of justice and honesty. (Independent, 2017)
4.8.3 Contribution of the Study: In many cases, individuals who possess the property or
who wishes to buy property and make money on it, have no knowledge and experience how
to do this. Therefore, people making wrong decisions buying houses on higher prices. (James,
2015) This work design to help people make a right decisions related with property
5. DATA ANALYSIS AND INTERPRETATION
This section is termed as one of the fundamental part of the research project because here
the data which is collected by the researcher is analyzed as well as interpreted so as to bring
out corrective results of the project (Constantinou and Fenton, 2017). It is useful in indicating
individual’s belief with respect to the services of an association. This piece of research
assessment is connected with topics which are produced based on questions. The
questionnaire has been prepared from the point of view of seller for this research. It is as
follows:
1. Length of ownership
How long have you owned the property?
INTERPRETATION: I own this property since 10 years. Now, i want to sell my property
because I am shifting to some other city so it is better that I sell my home from here.
2. Council tax
Which Council Tax band is your property in?
A B C E F G H
INTERPRETATION: I have my council tax in D band.
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D

3. Parking
What are the arrangements for parking at your property?
INTERPRETATION: At my property, the parking facilities are very good. We have a
garage where around 3-4 cars can be parked together. Also, there is a separate parking space
as well for those cars which are used on regular basis. I have a residential parking so there is
no issue of metered parking. Also, the parking is separate so no one can park at our place.
4. Conservation area
Is your property in a designated Conservation Area?
INTERPRETATION: No, my property is not at this type of location. I have my house at a
residential township area where lots of bungalows have been designed in a modern way and
lots of modern amenities are also given there. Actually, I don’t prefer to live at such historic
areas and i liked the surroundings of my home area so i bought it.
5. Listed buildings
Is your property a Listed Building, or contained within one (that is a building recognized
and approved as being of special architectural or historical interest)?
INTERPRETATION: Yes, my property is a listed one. I know this very well because I also
bought this property by checking this. It is very important for a property to be listed because
it reduces the issues that can arise by the builders in future.
6. Alterations/additions/extensions
(A) (i) During your time in the property, have you carried out any structural alterations,
additions or extensions (for example, provision of an extra bath/shower room, toilet, or
bedroom)?
(ii) Did you obtain planning permission, building warrant, completion certificate and other
consents for this work?
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INTERPRETATION: (i) Yes, when I was living in this house I made various kinds of
alterations as per my family’s convenience. They were like extending the balcony area and
turning the front balcony in a room. All these changes were done after taking due permission
from the residential authority.
(ii) Yes, as I told earlier, i took due permission from the authorities and then conducted the
construction work. I have it in written as well and I will give that document to you along with
other documents related to house.
(B) Have you had replacement windows, doors, patio doors or double glazing installed in
your property?
(i) Were the replacements the same shape and type as the ones you replaced?
(ii) Did this work involve any changes to the window or door openings?
(iii) Please describe the changes made to the windows doors, or patio doors (with
approximate dates when the work was completed):
INTERPRETATION: Yes, since i lived here for 10 years so the house was demanding
some changes after 6 years so i made some doors and windows replaced.
(i) Yes, the shape of the window was changed a bit but the doors were placed with same
shape but of a better quality.
(ii) No, this work did not involve any changes to the window or door openings. Only the
shape was changed and not the directions. The door openings and window openings are at
their best place so i did not change it.
(iii) I changed the windows because it was damaged from inside and therefore, i brought new
windows with better quality and differed shape. The changes were done within 2 days by the
carpenter. I don’t remember the exact data when it was completed.
7. Central heating
Is there a central heating system in your property? What kind of central heating system is
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there?
i) When was your central heating system or partial central heating system installed?
(ii) Do you have a maintenance contract for the central heating system?
(iii) When was your maintenance agreement last renewed? (Please provide the month and
year).
INTERPRETATION: Yes, we have central heating system installed in this property. It is
because this residential area is at little uphill so the sun’s heat doesn’t reach the house
properly. Therefore, I installed this at my home. I had installed electric storage heating
system.
(i) My central heating system was installed in year 2016 i.e. four years ago. But it ahs not
caused any issue till yet.
(ii) Yes, i have a maintenance contract which i will share with you once we have a deal.
(iii) My maintenance agreement was renewed on 14 august 2018.
8. Energy Performance Certificate
Does your property have an Energy Performance Certificate which is less than 10 years
old?
INTERPRETATION: No, i don’t have any such certificate with me.
9. Issues that may have affected your property
(a) Has there been any storm, flood, fire or other structural damage to your property while
you have owned it?
If you have answered yes, is the damage the subject of any outstanding insurance claim?
(b) Are you aware of the existence of asbestos in your property?
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INTERPRETATION: (A) Yes, we had a structural damage but that was because of the
strong storm which came one night. In that storm, my window glasses were destroyed. Other
than this, no major damage was caused to the property. No, that damage was not subject to
insurance claim.
(B) No, i don’t have asbestos in this property and i am not aware of it as well.
10. Services
(A)
Services Connected Supplier
Gas or liquid petroleum gas  London gases Ltd.
Water mains or private
water supply
 The water delivery company
Electricity  ESB Group
Mains drainage  Drain Center
Telephone  Opus Telecoms
Cable TV or satellite  DIRECT TV
Broadband  UK Broadband ltd.
(B) Is there a septic tank system at your property?
(i) Do you have appropriate consents for the discharge from your septic tank?
(ii) Do you have a maintenance contract for your septic tank?
INTERPRETATION: (B) Yes, we have a septic tank at my property. It was put so that
water issues cannot be faced.
(i) Yes, proper consent is there from the authorities.
(ii) No.
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11. Responsibilities for shared or common areas
(a) Are you aware of any responsibility to contribute to the cost of anything used jointly,
such as the repair of a shared drive, private road, boundary, or garden area?
(b) Is there a responsibility to contribute to repair and maintenance of the roof, common
stairwell or other common areas?:
(c) Has there been any major repair or replacement of any part of the roof during the
time you have owned the property?
(d) Do you have the right to walk over any of your neighbours’ property — for example
to put out your rubbish bin or to maintain your boundaries?
(e) As far as you are aware, do any of your neighbours have the right to walk over your
property, for example to put out their rubbish bin or to maintain their boundaries?
(f) As far as you are aware, is there a public right of way across any part of your
property? (public right of way is a way over which the public has a right to pass,
whether or not the land is privately-owned.)
INTERPRETATION: (a) No, i don’t have any such responsibilities on me now. I paid all
the amount to the concerned people.
(b) No, i don’t have any such responsibilities pending on me. I cleared all of them.
(c) No, there was no damage caused to the roof of the house.
(d) No, i don’t have any such right with me.
(e) None of my neighbour have the right to walk into my property for throwing bin or for any
other things. They can visit my house but don’t have any such rights.
(f) No, the public cannot enter my property casually.
12. Charges associated with your property
(a) Is there a factor or property manager for your property?
(b) Is there a common buildings insurance policy?
(c) Please give details of any other charges you have to pay on a regular basis for the
MAS15403343

upkeep of common areas or repair works, for example to a residents’ association, or
maintenance or stair fund.
INTERPRETATION: (a) No. i have not appointed any property manager. I myself visit it in
a few months and get it cleaned.
(b) No, each house owner was given its own insurance policy.
(c) Yes, we are required to pay maintenance charges to the society association which is $25
per month.
13. Specialist works
(a) As far as you are aware, has treatment of dry rot, wet rot, damp or any other
specialist work ever been carried out to your property?
(b) As far as you are aware, has any preventative work for dry rot, wet rot, or damp
ever been carried out to your property?
If you have answered yes to 13(a) or (b), do you have any guarantees relating to this
work?
INTERPRETATION: (a) No, there were no such treatment done as far as i know.
(b) I don’t have any information related to this.
14. Guarantees
(a) Are there any guarantees or warranties for any of the following:
Electrical
work
No Yes
✓
Don’t know With title
deeds
Lost
Roofing No Yes Don’t know
✓
With title
deeds
Lost
Central
heating
No Yes
✓
Don’t know With title
deeds
Lost
National
House
No Yes Don’t know With title
deeds
Lost
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Building
Council
(NHBC)
✓
Damp
course
No Yes Don’t know
✓
With title
deeds
Lost
Any other
work or
installation
s?
No Yes Don’t know
✓
With title
deeds
Lost
(b) If you have answered ‘yes’ or ‘with title deeds’, please give details of the work or
installations to which the guarantee(s) relate(s):
(c) Are there any outstanding claims under any of the guarantees listed above?
INTERPRETATION: (B) (I) I have guarantee papers related to electricity repairs which
i will share with you. In case of any electricity failures, you can get it repaired easily.
(II) I have warranty papers of central heating system. I will share all the documents with
you.
(III) I have guarantee papers given by NHBC as well.
(C) No, there are no such claims left outstanding.
15. Boundaries
So far as you are aware, has any boundary of your property been moved in the last 10
years?
INTERPRETATION: No.
16. Notices that affect your property
a. No, i have not received any such notice.
b. No.
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c. No, i paid all my charges on due time so there was no such issue anytime.
6. RESEARCH LIMITATIONS, RECOMMENDATION AND
CONCLUSION
This is the last section of the dissertation and in this the results and the conclusions of the
whole research is discussed. With the help of this section, an person can understand that what
all has been done in this research and what is the end result. Recommendations are also given
so that further improvements can be made by the researcher.
6.1 RESEARCH LIMITATIONS:
Agency will not be confident to share the data and information. Individuals may hide some
facts while answering questionnaires (Glucksberg, 2016). Time span of one semester is not
enough for this detail research. No many books have been written in this new emerging trend
in market.
6.2 RECOMMENDATION
This dissertation speaks about the situation of house market in south London and also
about the factors that affects the profitable selling and managing of residential properties. As
per the reports of the financial times, the houses in London fell to its lowest in the decade
(Murie, 2016). All this happened when the BREXIT issue was still unresolved. It is supposed
that if these things will be discussed then the house prices will decrease 30% more in the next
three years. According to the data released by Right move, average asking prices of the
homes are still lower than they were a year ago in London. During this downturn, the luxury
homes of London is feeling the hardest hit because they are of the highest prices and no one
is willing to buy it right now. Since 2014, the prices of Central London’s prime properties
have fallen by more than 19 percent. Various real estate agents are also recommending that
the buyers should think beyond BREXIT and make their decisions because everything will
fall into its place once the BREXIT issue is resolved. Therefore, it is recommended to the
sellers that they should wait for some time for selling their houses because f they will at this
time then they might incur losses but if they will sell after BREXIT then they might get good
prices.
6.3 CONCLUSION
From the above research, it is concluded that there are various kinds of factors and
strategies which creates issues in property selling in London. It is because of the increasing
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issues related to BREXIT. Due ti this, the prices of the houses are going down on continuous
basis and the new investors are finding it risky to invest their money in London at this point
of time. But, it is also suggested that the buyers and sellers should be ready because the
situation will come under control soon. The only thing that needs to be cared about is the
prime estate properties. If they will coordinate with the demand and supply then the prices
can soar high. The investors are required to invest their money by thinking about the long
term investment scheme and not any short term because then only they will be able to incur
profits from that property. This report also interpreted that buyer should have each and every
information related to property they are investing. This will help them in taking their decision
wisely.
6.4 VALIDITY AND RELIABILITY
This is one of the most important part of the research project because here it is
checked that the research which is conducted in valid and reliable or not. It is very necessary
for every research to be conducted in a reliable manner so that they can produce valid
outcomes (Luu, 2017). It will later on help the investigators in attracting the users as well. In
order to conduct a reliable research, it is necessary for the investigator to make sure that they
take their content from authentic sources and does not conduct any illegal activities while
conducting the research process. The investigator is also required to make sure that their data
does not get leaked as it increases chances of copyrighting of the content. Also the team
members should do their part of work honestly so that the outcome can come in positive way.
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