Tag Archives: housing
UK dream home is in the South West and less than 10 years old
The UK’s dream home would be a four bedroom detached property by the sea in South West England that is less than 10 years old, according to new research. Indeed some 31% of those surveyed would like a modern home and a home in the countryside is a popular choice, which 39% said they’d like and just 6% said their perfect place would be in a city. The South West was the most desired part of the country to reside where 26% would choose to live, according to the research from AA Home Membership. However, the research also revealed that if money were no object, many people would choose to stay in their local area. For example, 69% of Scots say their dream home would be in Scotland and 71% of Welsh respondents would stay in Wales. But it wasn’t a trend that extended to the whole of the country. Some 35% of those living in the West Midlands would like to live in the South West while 29% would choose to stay put. Similarly, 20% of respondents living in the East Midlands would continue living there while 27% would also like to move to the South West. ‘This research shows that the British public largely agree about what they want in a dream home except for the location,’ said Helen Brooker, head of AA Home Membership. ‘It’s interesting that, if given the chance to live anywhere, many people would choose to live in the area where they’re from. But other than that, the South West is the most popular location in the UK. If everyone went there maybe it would become so crowded it would lose its appeal,’ she pointed out. The research shows that while younger people aspire to own substantial properties, older respondents have more modest ambitions. Home owners aged over 65 are the age group most likely to want a two or three bedroom home with 52% saying so. Those who live in the North West are most likely to say that their dream home would not be in the UK at 19% compared to 13% overall. Respondents also had strong feelings about the age of their dream property. Some 73% of respondents want a house that’s less than 100 years old and the likelihood of wanting a new property increases with age. Character properties that are more than 100 years old are not as popular as we might expect as only 18% would like to live in such a home. Adding to the appeal of a home in the South West is the hit BBC television series Poldark which had resulted in enquiries about homes in locations in Cornwall where it was filmed soaring. Estate agents report a rise in enquiries in villages, such as Charlestown, Gunwalloe and Porthgwara, according to property site Rightmove. Brian Deacon, sales and marketing director for Linden Homes, which have a development near Charlestown said reservations and visitor levels at the housing scheme have certainly increased… Continue reading
Christchurch housing market getting back to normal four years after earthquake
There has been a strong recovery in Christchurch’s residential housing market since the earthquakes in 2010 and 2011, according to the New Zealand government. Building and Housing Minister Nick Smith said that planning, median house price and average weekly rent data shows that supply and demand are getting back into balance since 10,500 homes were affected. Building consent data shows 1,134 new home building consents were issued in the year to February 2012, 1,509 to 2013, 2,818 to 2014, and 4,433 to 2015, totalling 9,894 homes. Median house prices increased from $320,000 in March 2012 to $359,000 in March 2013, a rise of 12% and to $401,000 in March 2014, another 12% rise, and to $415,000 in March this year, an increase of 3%. Average weekly rents in Christchurch increased from $344 in March 2012 to $378 in March 2013, a 10% rise, to $418 in March 2014, an 11% increase, to $418 in March this year, no increase. The Christchurch Housing Accord was developed in 2014 between the new council and the Government to complement the broad programme of work on Christchurch’s housing recovery, and to ensure stronger coordination between council and Government. The Government has initiated 10 different interventions and committed hundreds of millions of dollars to Christchurch’s post-earthquake housing recovery. These have included the provision of four temporary accommodation villages, additional support for emergency housing and Christchurch Housing Fund for joint housing developments between council and Government. Smith said that he is satisfied with the progress we have made in increasing the supply of new housing, but less satisfied that sufficient homes are being built in the more affordable range. ‘I am concerned at how difficult it is for first home buyers to get into the more expensive, post-earthquake housing market,’ he added. Smith hopes that the new KiwiSaver HomeStart package, which came into effect 01 April, will help the housing development sector to build more affordable homes. It includes grants of up to $20,000 for 12,000 first home buyers in Canterbury over the next five years for homes under $450,000. ‘The HomeStart scheme has been specifically tailored to the Christchurch recovery by allowing second chance first home buyers to be eligible, so that it will assist people who may not have been insured, or through other difficult circumstances, find themselves in a similar situation to a young person buying a first home,’ he explained. ‘The Christchurch housing market will be transitioning over the next two years to more normal market conditions. We will be reviewing the earthquake specific assistance packages as the market returns to normal, as well as ensuring that the momentum of the recovery continues,’ he added. Continue reading
Rents in England and Wales close to record high, latest index shows
Rents in England and Wales are now £768 per month with average annual rent rises growing at their fastest pace in two years, up 3.7% over the last 12 months. The last time rents rose so quickly was in the year to April 2013, when this previously stood at 3.9% per annum, according to the latest buy to let index from Your Move and Reeds Rains. Between February and March rents have risen by 0.3% on a monthly basis and are now just £2 away from the all-time record high of £770 per month, set in October 2014, the data also shows. ‘Since 2010 the private rented sector has absorbed over a million extra households. With social housing in decline, alongside a parallel decay in the number of people owning their own home with a mortgage, private renting has stood in to fill the gap,’ said Adrian Gill, director of estate agents Reeds Rains and Your Move. ‘With only small real terms rent rises, this has generally been a success and tenants are now half as likely to fall behind on rent as at the peak of the financial crisis. However, this sector is carrying the weight of the housing crisis and that will mean faster rent rises in future if supply doesn’t keep up,’ he pointed out. ‘Without more homes every year to match a rising population, housing will inevitably become more expensive. And with one in five households now renting privately, this section of the population won’t be an exception to those fundamentals. Britain needs more homes, and over the long term, investment by landlords will only provide places to live as quickly as those homes are given planning permission and completed,’ he added. A breakdown of the figures shows that rents in the East of England stand out with 12.0% annual growth. The average property to let in the East of England region is now considerably more expensive than the South East. London is second in terms of annual rent rises with rents in the capital 5% higher than in March 2014, while Yorkshire and the Humber has seen rent rises of 3.3% over the last 12 months. At the other end of the spectrum, rents in the East Midlands are now 0.2% lower than a year ago, while the South West has seen no annual change. Most recently, rents have also risen the fastest month on month in the East of England, up 2.5% just since February 2015. However on a monthly basis the North West is not far behind, with rents up 2.3% over the last month, while this is followed by Yorkshire and the Humber with rent rises of 0.4% since February. By contrast, rents in the East Midlands have dropped by 0.6% between February and March, while the North East and Wales both saw rents 0.5% lower in… Continue reading
