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A beach view is voted top in UK poll
It is always said that location is important in the UK housing market and it seems that views are too and the most desirable is a beach, new research is found. But while 71% who took part in a new poll named a beach as the best possible view from their home, not all is lost for urban areas as 24% want to see bustling city life. Beach views came out top in the poll by curtains and blinds firm Hillarys, followed by coastal landscapes with 65% of the votes and small, picturesque village life with 54%. But one in 10 identified industrial city life as among their favourite views. Initially, respondents were asked to identify the views they would most like to have from their house and provided with a list of suggestions. In fourth place was farmland with animals, polling 46% if the vote, idyllic rural countryside with 39%, suburban community life with 36%, bustling city life 24%, landscaped gardens 23%, historic or heritage sites 22% and woodland 21%. In addition some 15% stated that they would like to have a view of ‘other houses’ from their home, while 9% felt that a view of ‘industrial city life’ would be ideal. When asked if they currently had their ideal views at home, just 19% stated that they did. The average respondent stated that they would pay an extra 20% for a house if it had access to their ideal view. ‘We have some incredible landscapes here in the UK. There is so much breath taking scenery, it’s easy to take it for granted and forget how lucky we are. The lush green countryside and quaint villages might be traditional, but it seems we have our hearts set on sandy white beachfront houses,’ said the firm’s spokesperson Helen Turnbull. ‘Although we may not be able to uproot our lives and relocate in to the scenery that our hearts desire, perhaps a jaunt to a well situated holiday home to soak up the atmosphere could be worth considering or try creating a nautical environment at home to give us that seaside feeling,’ she added. Continue reading
Buy to let surge results in house price growth doubling in England and Wales last month
House price growth in England doubled in February compared to the previous month and was led by a surge in buy to let sales due to the new stamp duty surcharge due to come into effect in April. Average property prices increased by 0.8% or £2,277 on a monthly basis and demand from landlords and second home buyers contributed to a 12% month on month rise in sales. The data from the latest Your Move index also shows that average prices were up 6.2% year on year, but this drops to 4.6% in London and the South East are excluded. It rakes the average house price to £289,229. London house prices rose 6.8% or £36,903 in the past year, taking the average price to £582,783 and exceeding the average Londoner’s £35,333 annual salary. Hull’s house price rise of 0.9% in a month to hit new record of £111,409, boosted by new jobs and City of Culture status. Meanwhile, the strongest sales were in Sandbanks, with property purchases in Poole up 21% year on year due to demand for luxury flats with views over Poole Harbour and Sandbanks. The report suggests that wealthy buyers are seeking to avoid the additional stamp duty surcharge and property prices have also risen as a result, up 11.6% over the year, as affluent buyers place a premium on luxury homes by the sea. ‘Growth could be as a result of buy to let investors rushing to complete quickly to avoid April’s additional 3% Stamp Duty surcharge, which has also seen sales shoot up 11.8% since January,’ said Richard Sexton, director of e.surv chartered surveyors. He believes that February’s house price growth is fantastic news for home owners, particularly those considering cashing in on the additional demand and making the most of the current sellers’ market. ‘Typical property values are now £16,866 higher year on year, the fastest annual growth rate seen in eleven months, driven by the gulf in the number of aspiring home buyers, compared to the limited supply of homes for sale,’ Sexton added. The index figures reveal that the East of England is outranking London with the fastest growing property prices of all regions, with a 7.2% uplift in the last 12 months. ‘This pace is being fuelled by commuter towns, as London’s workers search for more affordable housing. The trend towards higher house price growth in cheaper areas can also be seen elsewhere,’ Sexton explained. He also pointed out that while house prices in Yorkshire and Humberside have remained flat on a monthly basis, property values in the City of Kingston upon Hull have hit a new record of £111,409, up 0.9% compared to the previous month, as the city has one of the lowest average home values in the country. ‘The upswing in Hull’s home values is due to the increase in new jobs resulting in more demand, with major firms including Samsung lifting employment in the city. Recently winning City of Culture 2017… Continue reading
Poll shows widespread support for UK build to rent sector in Parliament
There is cross party support among British Member of Parliament for the emerging build to rent sector and predictions for growth, according to a new poll. Some 81% of MPs say they support the build to rent sector and the contribution it makes to the UK housing supply while 62% think it will make a higher contribution to housing supply over the next five years compared to current levels. The survey commissioned from ComRes by the British Property Federation (BPF) also found that build to rent has cross-party support, with 71% of Labour MPs in support and 91% of Conservatives. Few MPs think buy to let property will make a higher contribution to housing supply over the next five years, with 27% expecting its contribution to be higher, compared to 41% who expect it to be lower. MPs were somewhat split on social housing and affordable rent, with 26% of MPs expecting to see a lower contribution of social housing and affordable renting, compared to 39% who expect to see a higher contribution over the next five years. The results showed that new MPs are more likely to see this sector as a growth area than long serving MPs at 46% compared to 37%. The BPF estimates that there is at least £30 billion investment ready to enter the build to rent sector, and that it has the potential to deliver significant amounts of additional housing across the UK. The most recent figures from the BPF’s Build to Rent Map show that there are over 37,500 build to rent units with planning permission, under construction or complete across the UK. Most development is concentrated in the capital, where there is more than 20,000 units. ‘The widespread recognition amongst MPs of the build to rent sector is a positive sign it is starting to enter the nation’s housing vocabulary,’ said Ian Fletcher, BPF director of policy for real estate. ]It is also heartening that whilst all political parties are pushing a home ownership agenda, there is recognition amongst MPs that housing supply will come in other welcome forms and our nation requires that if we to get anywhere close to meeting demand,’ he pointed out. ‘This is not a zero-sum game, where tenures are competing, but a quest to deliver far more homes, where it is imperative that other forms of tenures are also encouraged,’ he concluded. Continue reading
