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Can London make itself at home on the South Bank?

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Over the past 75 years the South Bank has established itself as one of London’s most vibrant art and culture quarters, founded upon its collection of landmark postwar institutions, including the Royal Festival Hall and the National Theatre. But more recently, the South Bank has begun to assert itself as an enticing place to live, with the arrival of major developments such as Southbank Place and now Bankside Yards, which is just getting under way. 

The postwar story of the neighbourhood, which I have explored in a new book, was one of London’s greatest success stories in terms of urban renewal. The question now is: can the story of the South Bank move on to such acclaim? 

With their County of London Plan, urban planners Patrick Abercrombie and J.H. Forshaw first marked out the South Bank as a prime site for a new cultural campus, with its collection of “people’s palaces”, back in 1943. They saw that this bomb-damaged area was exceptionally well connected, being a short walk from The Strand or Covent Garden just across the Thames, and close to major rail and Tube stations, as well as being well-served by the river itself. It was also conveniently located next to County Hall, the offices of the old London County Council (LCC), whose politicians, planners and architects would play an important part in the evolution of the South Bank over the coming decades. 

A building made from concrete, with glazed doors on the ground floor. To the left is a concrete spiral staircase, which has been painted bright yellow
The Queen Elizabeth Hall © Pete Woodhead

Fortunately for the South Bank, the idea of a new cultural campus coincided with a grand plan for a Festival of Britain in 1951, a national celebration of British identity and postwar revival. The Royal Festival Hall — designed by LCC architects Leslie Martin, Robert Matthew and their team — formed the one permanent and enduring legacy of the extraordinary South Bank Exhibition, and the following 25 years saw the South Bank turn into a microcosm encapsulating the evolution of Britain’s mid-century modern architecture, charting the rise of brutalism, as seen in the Hayward Gallery, Queen Elizabeth Hall and — eventually — Denys Lasdun’s National Theatre, which opened in 1976. It was a long and fascinating journey.

There are some contentious new developments here that underline the sensitivities around the evolution of the setting. Chief among them is the redevelopment of the old LWT and ITV Studios complex by Make Architects, now known as 72 Upper Ground, which could see two new office towers, the tallest 26 storeys high, sitting on a prominent site overlooking — and dwarfing — the National Theatre, as well as Lasdun’s listed IBM Building, which is currently being upgraded. Critics of the scheme, which was approved earlier this year but is subject to an upcoming judicial review, want to see any new design “protect and enhance rather than dominate its surroundings”. 

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The new tower blocks “would overshadow London’s favourite passeggiata,” argues Michael Ball from the Save our South Bank action group. The 20th Century Society’s Coco Whittaker adds that the organisation has no issues with the principle of redeveloping the site but that it “strongly disapprove[s] of the approach adopted in the consented development”, including concerns related to its “scale and massing” on the riverfront. 

An old colour photograph of the south bank of the river Thames, taken during the Festival of Britain. Crowds of people walk there, and the tall, vertical structure of the Skylon appears to be almost floating in the middle distance
1951: The Festival of Britain site on the South Bank, with the Skylon on the left © Popperfoto via Getty Images

But projects such as the Southbank Place development, which is nearing completion, have proved less controversial in their mission to introduce much needed homes into the area. A master plan by Squire & Partners adds office space and around 880 new apartments — of which 98 will be available at “intermediate” rent, 70 will be “affordable” homes and 19 will be private homes for sale by Lambeth Council — across multiple new buildings alongside the Shell Centre. The seven new towers have been designed by a collective that also includes Patel Taylor, Stanton Williams, GRID Architects and interior architects Johnson Naylor. 

One reason for this might be that the new mixed-use schemes “build upon the regeneration that the Festival of Britain ignited,” as architect Tim Gledstone, partner at Squire promises. Fewer heritage considerations and constraints on the site, he says, “allows for the emergence of a new London vernacular with international ambition”. The new towers of Southbank Place sit between the listed mid-century icons upon the riverside and Waterloo Station, and arguably help to tie the neighbourhood together. They also bring a new sense of character to the South Bank’s previously unloved hinterland. 

The Festival of Britain and the people’s palaces along the river have been a key influence. GRID referenced graphic designer Abram Games’ famous Festival Star — as seen on the 1951 Exhibition catalogue and elsewhere — in the design of the facades for the Belvedere Gardens residential towers at Southbank Place. Meanwhile, Fiona Naylor at Johnson Naylor found multiple sources of local inspiration, including the spiral staircases of the Southbank Centre, the influence of which can be seen in her stairs leading from the lobby to the residents lounge at Southbank Place. 

An angled view of a large concrete and glass building. The London Eye can be seen in the background, and children are splashing in fountains in the foreground. A row of cafe seating areas with orange canopies is in a row in front of the building
The Royal Festival Hall as it is today
A black and white image of the same building. The street outside is less crowded, and empty of any other features
The Royal Festival Hall in 1965 © Southbank Centre Archive

Naylor has form in the area. She collaborated with Kohn Pedersen Fox on the interiors of the nearby Southbank Tower, an imaginative conversion, extension and retrofit of mid-century architect Richard Seifert’s King’s Reach Tower office block, which marked the beginning of the fresh injection of residential space into the neighbourhood when it was completed back in 2016. 

The Bankside Yards development further along the river, which will be mixed use, including apartments and a new Mandarin Oriental hotel, promises to anchor itself in the local design language too. As well as repurposing many of the area’s railway arches at street level, Bankside Yards will offer eight new buildings, four of which will be residential. Working to a master plan by PLP Architecture, the architectural team here includes Stiff + Trevillion, Gillespies and Make. 

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An architect’s photographic rendering of a very tall tower block on the south bank of the river Thames. The various towers of the City can be seen in the middle distance
The 50-storey Opus will be the tallest residential building in central London upon completion in 2026

The first residential building will be the 50-storey Opus, designed by PLP, which will be the tallest residential building in central London upon completion in 2026, sitting within a cluster of taller structures that have grown up around the junction of the South Bank and Bankside. “Its form tapers as it rises upward . . . and the tripartite plan allows us to create as many as seven corner units on a single floor, which are spatially different and have floor-to-ceiling windows,” says architect and founding partner of PLP, Lee Polisano, of Opus. He “I feel this is just the beginning of the South Bank as a neighbourhood, but its success will depend on . . . creating truly mixed-use communities.” 

A new chapter is being written for the South Bank, with many twists and turns, as the battle over 72 Upper Ground suggests. It’s a delicate balancing act: protecting the mid-century history, while reinvigorating the area with fresh homes — and combining retrofits with new additions. The end result needs to preserve the essential character of this unique enclave, which has — slowly but surely — won the hearts of so many Londoners.

South Bank: Architecture & Design, by Dominic Bradbury & Rachael Smith, will be published by Batsford later this month

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Is Kamala Harris having a breakthrough with voters on the economy?

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This is an on-site version of the US Election Countdown newsletter. You can read the previous edition here. Sign up for free here to get it on Tuesdays and Thursdays. Email us at electioncountdown@ft.com

Good morning and welcome to US Election Countdown.

Today let’s talk about:

  • Harris convincing voters on the economy

  • Trump’s fundraising sweep through oil country

  • What will it take to win Wisconsin?

Donald Trump has painted an extremely bleak picture of the US economy for voters, and one of Kamala Harris’s biggest tasks in the last stretch of the election is to show it in a different light.

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With voters fixated on inflation, accomplishing that will be hard, conceded Edward Montgomery, a Democrat and ex-chief economist at the US labour department.

“Here’s the problem: inflation is the rate of increase, and [that] has slowed, but the public’s focus is on the absolute price,” he told the Financial Times’ Colby Smith. “It takes a lot for the price level to come down. That would be a recession and deflation, and it’s not quite clear you really want that.”

Without the excess savings amassed during the Covid-19 pandemic, “people don’t feel as secure now” and “they know that they are consuming past their means”, said Paul Isley, an economics professor at Grand Valley State University.

But despite these hurdles, she seems to be breaking through to some voters as they start to feel better about the economy.

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She’s winning over people who feel less pessimistic about inflation and some of those who think it’s neither improving nor worsening, said Amy Walter, the top political analyst at the non-partisan Cook Political Report. More importantly, she’s pulling in 42 per cent of those who think inflation “is getting a little worse”, though she’s still 13 points behind Trump. The only group of voters significantly supportive of Trump are those who think inflation will get a lot worse.

CPR’s findings yesterday came after last month’s FT-Michigan Ross poll found that Harris had a narrow lead over Trump on economic stewardship among voters nationally.

However, about 5 per cent of battleground state voters say they’re undecided or considering a third-party candidate. Those voters “are more economically stressed than the overall electorate” and trust Trump more on the issue, said Walter.

But zooming out, Walter highlighted that for the first time ever, a plurality of voters think Harris will win the election — 46 per cent to Trump’s 39 per cent. That’s “the vibe that’s out there”, said Walter. “That doesn’t mean that she is going to win” but that “she has passed the bar . . . about whether she could win the job”.

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Campaign clips: the latest election headlines

  • Jack Smith, the special counsel overseeing the justice department’s cases against Trump, said the Republican candidate engaged in a “private criminal effort” to overthrow the 2020 general election in a newly unsealed court filing. [Free to read]

  • Trump’s campaign said it raised $160mn in September and had $283mn in cash on hand as it tries to narrow the fundraising gap with Harris’s campaign. (Politico)

  • As the Middle East becomes an unavoidable topic for Harris on the campaign trail, the US and its allies are trying to limit Israel’s response to Iran’s ballistic missile attack — but their influence on the Jewish state may be limited.

  • Trump megadonor and US shale magnate Harold Hamm has accused the Biden-Harris administration of leaving the country “unusually vulnerable” to a Middle East price shock.

  • In Tuesday’s vice-presidential debate, JD Vance mounted a slick defence of Trump, while Tim Walz attacked his opponent for refusing to accept the result of the 2020 election. 

Behind the scenes

Trump swept through Texas oil country yesterday to tap some of the industry’s deep-pocketed moguls as he raced to get more cash to propel the final month of his campaign [free to read].

He started in Midland — the heart of the Permian basin — for a donor lunch at a posh golf club with the town’s most prominent figures. VIP tickets went for almost $1mn. Then he jetted to Houston — home of the US’s biggest oil companies — for a reception hosted by Hilcorp boss Jeff Hildebrand.

The oil and gas industry has been one of Trump’s biggest fundraising sources. The Republican candidate has gotten executives onside by vowing to get rid of the Biden administration’s environmental regulations and promising to let them “drill, baby, drill”.

In his remarks at the Midland Country Club lunch, Trump accused President Joe Biden of undermining the US’s energy security amid geopolitical tensions. Oil prices jumped after Iran launched almost 200 missiles at Israel on Tuesday.

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The lunch was hosted by Javaid Anwar, chief executive of Midland Energy and one of Trump’s biggest industry supporters, and his wife, Vicky, alongside Bubba Saulsbury of construction group Saulsbury Industries, and Doug Scharbauer, another prominent local oilman. 

Kirk Edwards, an oil executive who attended the event, told the FT’s Myles McCormick it was “a spectacular day” for the local industry to have Trump visit. 

But not everybody is as enthusiastic. One executive said he doesn’t want to see prices at the pump come down: “Don’t come here and tell us you want $2 gasoline. We don’t want fucking $2 gasoline . . . shut up about ‘drill, baby, drill’,” he said.

Datapoint

Maps showing a decades-long Democratic shift in the suburbs of Milwaukee, Wisconsin

Today, Harris and Republican Liz Cheney, daughter of former vice-president Dick Cheney, will campaign in Ripon — the Wisconsin city considered the birthplace of the modern Republican party — where they’ll try to lure Republicans who have become disaffected by the direction of their party under Trump.

In the 2020 election, Wisconsin had the highest turnout rate of any of this year’s seven battleground states.

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Both the Trump and Harris campaigns want the votes of Waukesha County in the traditionally Republican suburbs of Milwaukee. In 2020, Biden improved over Hillary Clinton’s 2016 tally in the county, but Trump still took it with almost 60 per cent of the vote to the president’s 30 per cent. More specifically, Democrats hope to peel away suburban women voters from the Republican party.

Democrats also want to hold on to voters in the cities in the western part of the state such as LaCrosse and Eau Claire that lean Democratic. Additionally, Harris needs high turnout in Madison, the state capital, from state employees and students from the flagship University of Wisconsin.

Though voters in the state are disproportionately white compared with other swing states, a history of union organising could help the vice-president.

Trump’s messaging attracted many voters in rural farmlands, but some of them were hit hard by his trade policies while he was in office, and their widespread support is not guaranteed this time around.

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Harris is leading Trump by 0.9 percentage points in Wisconsin, according to the FT’s poll tracker.

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How to help clients borrow money from their pension

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How to help clients borrow money from their pension
Pensions
Shutterstock /szefei

Clients look forward to the time they can get their hands on the money they’ve saved for years in their pension.

Most can obtain 25% of this tax free. But this is not always used for retirement.

In fact, it can be freed up for all matter of things – and its use will determine the next tax-efficient steps to take.

The following case illustrates how business owners can borrow money from their pension in the most tax-efficient way.

The case

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Amrit is aged 57 and owns his own limited company. He’s taking a combination of low salary with dividends just up to the higher-rate threshold for income tax. He’s looking to purchase a commercial property for this company to be based out of and is looking to spend about £100,000 on the purchase.

He and the company both have the money for the extra charges, such as conveyancing and stamp duty. In his area, commercial properties are sold very quickly, so speed is of the essence.

Amrit is aware of a property that has just come onto the market within his price range and he’s keen to put an offer in. He’s arranged to see a financial adviser to discuss the options for purchase.

During the fact find, it turns out Amrit has £400,000 in a Sipp. His adviser may think about this as a tax-efficient way to purchase commercial property, but it’s not the quickest.

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Commercial borrowing could also be considered but, again, time constraints could be an issue, and there is also the fact that, due to interest being added, it may not be the most cost-efficient.

The Sipp almost seems ideal, as it is £100,000 that is needed and, as Amrit has never taken benefits from his pension before, it’s within the new lump sum allowance and lump sum and death benefits allowance, so can be easily accessed.

But what do we do with this £100,000 once it’s withdrawn?

Amrit could just take the pension commencement lump sum from his Sipp to cover the cost of the purchase in his own name. This will meet the criteria for speed, but will it be very tax-efficient?

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The company will have to pay rent on this, which is then taxed as earned income on Amrit personally. This will then have the knock-on effect on the tax efficiency of taking a low salary and dividends to meet the rest of Amrit’s needs. This may even push some of his dividends into the higher-rate band (33.75% dividend tax in the higher rate as opposed to 8.75% in the basic rate band).

There is a way this could be done more tax-efficiently. He could take the £100,000 tax-free from his pension and make a director’s loan of the same amount to his company. This gives the company the money required to make the purchase and will save the company having to pay rent, building up more profit in his business.

The best part is that, when there is enough money in the business, it can be paid back to Amrit free of tax, as the business is simply repaying the loan.

However, he does lose tax-free cash from his pension, but it’s just shifted where this is being held to his company. As the business doesn’t have this spare money, though, it may take a while to build this up.

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The adviser’s strategy is twofold, as the director’s loan ensures the process moves at speed. But, what if, behind the scenes, the Sipp was also preparing to purchase the property from Amrit’s company?

This would limit the growth on any property gain being charged to corporation tax from Amrit’s company and ensures any future gains are tax efficient (there is no tax on the gain inside the Sipp).

The rental money (which would be corporation tax deductible) could then be paid to the Sipp and build up more pension commencement lump sum for Amrit to have in the future. The downside would be there is two times the ancillary costs (conveyancing, stamp duty, etc.), but, over time, the tax-efficiency should pay off. That’s the cost for having to move at speed.

And the cherry on top is the business then has the £100,000 back and can repay the loan to Amrit at any time he finds this to be convenient.

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Mark Devlin is senior technical manager at M&G Wealth

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Quintessential British seaside town that’s my favourite spot for a caravan holiday in the South West

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A caravan expert has named Swanage as their favourite caravan spot in the southwest

SWANAGE has been named one of the best caravanning spots in the country thanks to its Blue Flag beach, colourful beach huts and steam railway.

Known as The Caravanning Mummy, travel expert, and mum-of-two, Rachel shares travel tips and destination guides on Instagram, including the best places to go on a caravan holiday in the UK.

A caravan expert has named Swanage as their favourite caravan spot in the southwest

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A caravan expert has named Swanage as their favourite caravan spot in the southwestCredit: Alamy
Rachel, who is known as the Caravanning Mummy, has been going on caravan holidays for the last five years

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Rachel, who is known as the Caravanning Mummy, has been going on caravan holidays for the last five yearsCredit: THE CARAVANNING MUMMY

Rachel purchased her caravan back in 2019, with her family spending the school holidays and weekends exploring the UK in their Bailey Of Bristol Phoenix 650 caravan.

The mum-of-two started holidaying in Dorset in the 1990s with her parents and has spent the last few years returning to her childhood haunts with her own kids.

And she recently named Swanage as her favourite caravanning destination in the southwest.

She told Sun Online Travel: “Swanage is the quintessential British seaside town. It’s got Punch and Judy shows, colourful beach huts, Blue Flag Beaches and Corfe Castle. It’s absolutely gorgeous.

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“Swanage is such a brilliant staycation location because it takes adults back to their childhood visits with old-timey beach attractions.

“I just think it’s a brilliant little place. While it’s not necessarily unknown, it is just a very special place.”

One of the top attractions in the coastal town is the Swanage Railway – a full-size steam train that ferries passengers from Norden to Swanage, passing sites like Corfe Castle.

Swanage Railway runs themed experiences throughout the year, including a Polar Express service and a Spooky service.

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Adult return tickets start from £18, with children’s tickets coming in at £9 for a return.

There are several beaches in and around Swanage for holidaymakers to visit like the Blue Flag Swanage Beach, which is known for its fine sand, cleanliness and amenities.

Best of British: The Sun’s Travel Editor Lisa Minot reveals her favourite caravan cooking tips

Other nearby beaches include Studland Beach.

Back by a wildlife reserve, Studland Beach is regarded as one of the finest beaches in the country.

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There’s also Chapman’s Pool, a small cove that’s similar to Lulworth Cove, and Sandbanks Beach.

Located in Poole, Sandbanks Beach has held its Blue Flag status for the last 35 years and is known for its golden sand and crystal-clear waters.

Facilities at the beach include toilets, showers, a beach cafe, a mini golf course and a beach volleyball net.

Swanage Pier is another popular attraction in the seaside town.

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The pier is popular with divers because it’s one of the few sheltered sea diving sites on the south coast.

Rachel likes the sense of nostalgia in Swanage with its colourful beach huts and Punch and Judy shows

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Rachel likes the sense of nostalgia in Swanage with its colourful beach huts and Punch and Judy showsCredit: Alamy
Swanage Railway Line is a top attraction in the town

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Swanage Railway Line is a top attraction in the townCredit: Alamy

Entry onto the pier costs £2 for an adult, with a £5 charge for any adult who wants to dive under the wooden structure.

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Holidaymakers can hire equipment from Divers Down – the oldest diving school in the UK.

Other attractions include Swanage Museum, Prince Albert Gardens and the chalk hills on Purbeck Heritage Coast.

Even though it’s a village in its own right, Corfe Castle is another must for holidaymakers visiting Swanage, with Rachel adding: “Corfe Castle is brilliant for my boys – and kids in general – because they can run around the ruins of a castle and pretend to be knights.”

Located halfway between Wareham and Swanage, the skyline of the Dorset village is dominated by the remains of Corfe Castle.

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Built by William the Conqueror and partially demolished in 1646 during the English Civil War, Corfe Castle attracts visitors from all over the world.

Managed by the National Trust, entry costs £12 for an adult and £6 for a child.

There are loads of places to grab fish and chips in Swanage, including the Village Inn, the Fish Plaice, which has been running since the 1970s, Harlees Fish and Chips Swanage and the Hungry Shark, to name a few.

Swanage has plenty of pubs too like the Black Swan Inn, the White Horse Inn Swanage and the Ship Inn.

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Later this month, Rachel will be sharing more Dorset caravanning tips at the Motorhome & Caravan Show at the NEC in Birmingham.

Rachel’s Favourite Campsites in Swanage

IN THE last five years, Rachel and her family have stayed at three campsites in Swanage – here’s what they’re like…

Haycraft Club Campsite
Located near Harmans Cross Train Station, holidaymakers can board a train on the Swanage Railway line to reach Swanage. The site is currently closed for refurbishment but is set to reopen in March.
Touring pitches start from £17 per pitch.

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Hunter’s Moon Club Campsite
Set in Wareham, Hunter’s Moon Club Campsite is slightly further afield with holidaymakers needing to drive to reach the seaside.
Touring pitches start from £15.60 per night.

Norden Farm Campsite
The family-run campsite is Rachel’s favourite place to bag a pitch in Dorset because it is also a working farm, adding a touch of rural and rustic charm. Located on the Wareham-Swanage Road just outside of Corfe Castle, the campsite is close to famous beaches like Studland and Sandbanks. The site is open until October 31 – depending on the weather. Touring pitches start from £23. 

Meanwhile, these are the top-rated holiday parks with on-site waterparks and pools.

And this holiday park has been named as one of the best in the country.

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Rachel and her family explore the UK in their caravan

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Rachel and her family explore the UK in their caravanCredit: THE CARAVANNING MUMMY
Swanage is home to Blue Flag Beaches

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Swanage is home to Blue Flag BeachesCredit: Alamy

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Ghana to exit default after two years with debt restructuring

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Ghana will exit a debt default after the west African nation completed a restructuring of $13bn in US dollar bonds, paving the way for a return to global capital markets almost two years after an economic crisis forced it to suspend debt repayments.

Almost all bondholders voted to exchange their bonds for new debt worth $4.7bn less, lowering Ghana’s debt bill by more than $4bn in the next two years, the government said in a statement on Thursday.

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“Today, our economy has turned a corner,” President Nana Akufo-Addo, who is stepping down in the elections after two terms, said in a statement. “We’ve accomplished what everyone said was impossible — we decisively resolved Ghana’s debt overhang problem.”

Ghana is the latest country to finish a debt restructuring this year as investors and governments come to the end of a series of often protracted talks to resolve a wave of sovereign defaults that followed the Covid-19 pandemic.

Ukraine finalised a wartime restructuring of $20bn in debt in September after just four months of talks. But Zambia, which like Ghana used a G20-endorsed “common framework” for poor countries to deal with creditors, had to wait four years for lenders to finally agree terms this year.

Last month Sri Lanka reached a deal in principle for bondholders to restructure nearly $13bn of bonds just before elections, more than two years after it defaulted. Ethiopia has also launched creditor talks.

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Ghana’s bond exchange finalises a deal agreed in principle in June, and means the country will be out of default before general elections in December.

Rampant inflation and the Ghanaian cedi’s collapse against the US dollar after Russia’s 2022 invasion of Ukraine led Ghana into a $3bn IMF bailout that required talks with its major creditors to reduce the debt.

As a result of the economic crisis, the gold and oil producer that was once one of the continent’s fastest-growing countries was overtaken by Ivory Coast as west Africa’s second-biggest economy after Nigeria.

The IMF has projected that Ghana’s gross public debt will fall below 80 per cent of GDP next year, down from nearly 100 per cent in 2022. Ghanaians were still battling annual inflation of more than 21 per cent as of last month. 

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The legacy of the financial turmoil will be a key factor in the December elections, which will pit Akufo-Addo’s vice-president Mahamudu Bawumia against John Mahama, a former president.

Ethiopia is the next big G20 common framework case to be negotiated after Ghana. But talks to restructure a $1bn bond that fell into default last year have quickly become acrimonious.

On Thursday a bondholder committee said that an 18 per cent haircut on the bond that Ethiopia’s government floated with investors this week was “wholly inconsistent” with economic fundamentals.

The committee also criticised what it said was “the lack of transparency” over Ethiopia’s dealings with official creditors.

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I’ve made £250k from eBay – my top selling tips to get the highest price including screenshot trick

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I've made £250k from eBay - my top selling tips to get the highest price including screenshot trick

A SAVVY seller has shared how they managed to make thousands of pounds by flogging goods on eBay.

Joseph Holman made £250,000 profits as a teenager selling items on eBay, using the cash to buy his first Porsche.

Joseph Holman made £250,000 by flogging goods on eBay

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Joseph Holman made £250,000 by flogging goods on eBay

The Luton-based businessman became known locally as “The eBay King’”thanks to his ability to turn clobber into cash.

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He now runs his own eco-friendly home furnishing brand, known as Green Doors, but he has been making money from eBay since he was just a kid.

As a pre-teen Holman invested his birthday and pocket money into a bulk order of magnetic ‘stick and ball’ games, which he then sold on individually.

Joseph, now 33, ended up netting a profit of around £2,000 in just six weeks.

“I was hooked on buying and selling anything I could,” he shared.

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By the time he was 16 the savvy youngster had £30,000 saved up from eBay profits, eventually purchasing a moped to make deliveries.

The following year he bought a car, which he said made selling larger items possible as he could go and pick them up.

This decision helped him bag £50,000.

His friends started calling him the “The eBay King”, earning the name by selling everything from soaps to statues and baths to bikes.

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He added: “By the time I was 20, I had made over two hundred grand, all from selling things on eBay.”

The EXACT items I bought at the car boot sale to turn a tenner into £500 on eBay – so have you got any in your cupboard

Joesph is sharing his tips for success after eBay announced it had scrapped fees for private sellers, making it more profitable to sell on the platform.

Now sellers using the marketplace can take home more money when they flog secondhand items including CDs, books, toys and furniture.

Before the change, private sellers had to pay an enormous fee of 13.22% when selling items on eBay.

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These included a 12.8% “final value” fee plus 30p per order and 0.42% “regulatory operating” fee.

For a seller listing a chest of drawers worth £20 the change would save them £2.94 in fees.

Top tips for selling on eBay

NEW to eBay? It’s head of secondhand, Emma Grant, reveals how to optimise your listings:

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  1. Use key words – eBay automatically filters listing titles for key words, so it’s crucial to use the terminology people search for – especially brand and product names.  
  2. Choose the right category for your product – It might sound obvious but it’s important to always choose the most specific category to sell in.
  3. Pictures are important – Most users will not bid on items they cannot see. For best results, take photos in natural light against a neutral background and be honest about any scratches or damage to the item.  
  4. Be as detailed as possible – Be honest about the condition of the product and be sure to note any wear and tear.
  5. Look at past sold items–  eBay has a function that allows you to search for the item you want to sell and then filter the results by sold items. Here, you can view the price the item has sold for and get insight into how others have listed it.  
  6. Selling Sundays – Get the timing right. The busiest time for buyers is Sunday evenings, so schedule your listings to end around that time. Opt for seven-day auctions to ensure the max number of bids. The longer your item is listed, the more chance of people seeing it, so unless it’s time-sensitive, pick seven days.  December is the busiest month on eBay.
  7. Be realistic with pricing – Try searching for similar items on eBay, to make sure you’re going for the right price and always ask yourself “would I pay this price for this item?”
  8. Donate to charity – When listing your item, consider donating a percentage of the sale to a cause of your choice – from 10% to 100% – you can donate the funds raised from your item straight from the platform. 

They will now take home the full £20 instead of the previous £17.06.

For items worth just one or two pounds the fee changes will have an even greater impact.

This is because previously there was a fixed 30p element to how the final value fee was calculated.

On a £3 transaction, this would be equal to 10% of the seller’s total profit, without including the other elements of the fees.

It comes just months after eBay slashed fees to sell secondhand clothes on its website in a bid to compete with other platforms including Vinted and Depop.

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Here are Joseph’s top tips for making money on eBay.

Do your research

The eBay king recommends carefully researching the product you are selling – and taking a simple screenshot can mean bagging a buyer willing to pay more.

He said: “Try to find the highest original Recommended Retail Price (RRP) online, take a screenshot of this, and add it to the eBay photos.

The RRP is the price a manufacturer suggests a retailer should sell a product for, but in some cases they can charge higher or lower.

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Joesph said by showing customers the highest RRP they can see how much they are saving if they bought it somewhere else.

Cause a stir

To make sure your product stands out Joseph said to list your items as “Buy it Now/Best Offer”’.

By listing your product as “Buy it Now” it means customers can snap it up immediately for a fixed price that you as the seller have decided on.

Alternatively, you can list it as “Best Offer” which allows sellers to invite buyers to negotiate the price of an item.

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 For example, you can list an item for £60 but be open to offers either higher or lower.

“This allows customers to quickly purchase your product, rather than waiting for an auction to end, which they might forget to bid on,” he said.

You can set your preferences to automatically accept or decline offers of a certain amount, and use the counteroffer feature to negotiate with prospective buyers.

The counteroffer allows sellers to come back with a different price than the buyer offered.

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For example, if someone offers £40 for an item you can go back and suggest they pay £50.

The buyer has 48 hours to accept the new offer from the seller.

Ensure your item is looking the best

Joseph said it is important to know your audience and provide lots of pictures of the item you’re selling to ensure you make a sale.

He said: “Take the maximum number of photos you can upload and a video if necessary, so the customer can see all angles.”

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The pro also said sellers should describe any defects to demonstrate that “you’re an honest seller, and provide a clear and engaging description”.

He added: “Understand the product and the type of customer it will attract – listings for a piece of art should be more detailed than those for an IKEA chair.”

Use keywords

When listing an item sellers should also consider using keywords to make their product stand out.

“The eBay title is crucial, especially the first four words, as they affect the algorithm,” Joesph said.

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“Make sure to use relevant keywords first and use the entire space available for the title.”

When doing this sellers should pick three to five keywords that relate closely to their item.

Ask yourself what words people are likely to use in a search engine when looking for what you’re selling.

For example, if you are selling a dress from a specific brand make sure you use that in your title.

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Once you have these keywords, use them appropriately in your listing title and item description.

You should make sure that you do not make any typos in keywords or listing titles as this can stop customers from finding your product.

eBay is not the only platform you can sell your goods on.

The Sun recently shared top tricks and tips for how to make your items stand out on Vinted.

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You can read more about this by clicking the link here.

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Eurozone house prices rise for first time in more than a year

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Eurozone house prices have risen for the first time in more than a year, according to official statistics that suggest lower mortgage rates are fuelling a recovery in the region’s property market.

House prices in the currency union increased 1.3 per cent in the second quarter from the same period a year ago, according to data published by Eurostat on Thursday. The growth follows four consecutive quarters of annual contractions.

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Demand in the European property market plunged as the cost of home loans increased from early 2022. But mortgage rates have declined this year on expectations that the European Central Bank would cut interest rates. The ECB’s key deposit rate stands at 3.5 per cent after it reduced rates in June and September, with investors anticipating another quarter-point cut next month.

“Eurozone house prices are beginning to finally recover,” said Tomasz Wieladek, chief European economist at investment company T Rowe Price, adding that “mortgage affordability has improved significantly” as a result of a resilient labour market and a large rise in disposable income as energy prices have fallen.

Franziska Biehl, an economist at ING, said that in addition to lower mortgage rates, the residential property sector’s recovery was supported by higher salaries. Wages are growing at a faster rate than inflation, according to official statistics.

Separate figures released on Wednesday by the ECB showed that the average mortgage rate on new deals declined to 3.7 per cent in August from more than 4 per cent last November. The average was 1.3 per cent in January 2022.

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The ECB began raising rates from 2022 in response to a surge in inflation, pushing up mortgage costs. However, Eurozone inflation fell to 1.8 per cent in September, dropping below the ECB’s medium-term target of 2 per cent for the first time in three years and paving the way for more interest rate cuts.

Compared with the previous quarter, Eurozone property prices were up 1.8 per cent in the three months to June, the fastest quarterly increase in two years, Eurostat data showed. In the hard-hit German housing market, which has suffered seven quarters of contraction, house prices rose 1.3 per cent quarter on quarter. House prices in Europe’s largest economy are still 12 per cent from their 2022 peak despite the latest rebound, and fell 2.6 per cent from the same period a year ago.

Above-average annual price increases were reported in many markets, with the Netherlands, Spain and Portugal all reporting price growth near 8 per cent in the second quarter. Annual prices rose 10 per cent in Croatia, the currency bloc’s newest member.

House prices also returned to growth in Italy, where they have lagged behind the region’s average over the past five years.

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However, French house prices were 4.6 per cent below their levels a year ago.

Andrew Kenningham, economist at consultancy Capital Economics, said further price rises would be modest as lower ECB borrowing costs were already reflected in mortgage rates and the wider economic backdrop for the Eurozone was “poor”.

“We don’t expect house prices to surge,” he said. “Germany is struggling with declining competitiveness and France [is] facing a period of austerity.”

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