Tag Archives: real-estate
Men are from Mars, women from Venus, housing style poll finds
When it comes to relationships it is well known that men and woman have very different ideas but now research suggests they also have different priorities when it comes to choosing a home. When it came to buying their dream home some 14% of men wanted a cinema/screening room and 12% wanted a wine cellar. In contrast, 24% of women rated an AGA oven and 18% wanted a kitchen island, according to research from real estate firm Strutt & Parker. The top ideals when it comes to moving from women were being near a good schools, access to shops and amenities, a short commute to work and wanting more space as well as being close to family and friends, the poll of buyers, sellers and tenants also found. But men’s top list for reasons for moving home were tax changes, retirement, pension support, a smaller home, the political environment and mobile telephone coverage. While both sexes agreed that a traditional British home was what they wanted, certain styles scored much more highly with women than men including a loft style, simple Scandinavian, classical French and exotic Indian. On the other hand, 1950s/60s/70s retro was preferred by men. Men preferred stark, grand, imposing and cool characters for their home while women were more attractive to a quirky, creative, calm and relaxing ambiences. When it comes to outside space, men are far more interested in living on or near water than women, and homes with sporting facilities such as a gym, pool and tennis were also more popular with men, although more women were keen on equestrian amenities. When looking at a managed apartment block or unit, men tended to be far keener on convenience and practical amenities. Having a porter or doorman, in-house cleaning services, car sharing, banquet services and refrigeration drop off storage were all far more popular with male respondents. For females, it was important that pets were allowed and disabled accessibility was also a priority. Environmental features appeared to be of more importance to men than they were to women. Code Level 5 ratings, renewable energy, living walls, grey/potable water and green roofs were all markedly more popular with male respondents. ‘Our overall analysis points towards elements such as broadband connectivity and access to amenities being very important for buyers. However, men and women appear to have a slightly different interpretation on what these might mean,’ said Stephanie McMahon, head of research at Strutt & Parker. ‘When referring to private rental, for example, for men amenities and services might mean concierge services and grocery drop off, for women it might mean ability to bring pets and disabled accessibility,’ she explained. Continue reading
Prime central London rents adjust downwards, latest analysis shows
Annual residential rental value growth in prime central London eased to 3.4% in June, reflecting a positive but hesitant mood in the lettings market, a new report suggests. While June marked the twelfth consecutive month of annual growth, demand has been inconsistent ahead of an expected seasonal upturn in the summer as companies digest the outcome of the general election. In similar fashion to the sales market, the prime central London lettings market is in a period of adjustment following an election result that few predicted, according to the report from international real estate firm Knight Frank. The report also reveals that prime gross yields remained at 2.96% for the second month running and high stock levels in some areas means setting realistic asking rents has become more important. ‘One example is high stock levels in some areas, the result of landlords having waited for clarity around the result of the vote before deciding whether to let their properties,’ said Tom Bill, head of London residential research at Knight Frank. ‘The health of the prime central London lettings market is linked to that of the UK economy and some perceive it to be on a firmer footing under a majority Conservative government, which has caused stock levels to rise,’ he explained. ‘Properties for sale are also moving across to the lettings market, the result of some vendors choosing the rental option after a post-election spike in prices failed to The result of higher stock levels is that prospective tenants are shopping around to a greater extent than before, which means setting realistic asking rents has become increasingly important,’ he added. However, the picture is mixed across different markets and there is a shortage of family houses in areas including Kensington and St John’s Wood, as more families opt to rent due to affordability constraints in the sales market. The report also points out that the impact of the election on decision making by large financial institutions over whether they remain in the UK will also have a bearing on demand in the second half of 2015. For example, some banks are reviewing whether to stay against the background of an in-out European Union referendum as well as a wider debate surrounding the merits of the bank levy and plans to claw back bonus payments. Continue reading
US pending home sales at highest for over nine years
Pending home sales in the United States continued to rise in May and are now at their highest level in over nine years, the latest index data shows. Gains in the Northeast and West were offset by small decreases in the Midwest and South, according to the Pending Home Sales index from the National Association of Realtors which is a forward-looking indicator based on contract signings. The index climbed 0.9% to 112.6 in May from a slight downward revision of 111.6 in April and is now 10.4% above May 2014 when it was 101.9. The index has now increased year on year for nine consecutive months and is at its highest level since April 2006. According to Lawrence Yun, NAR chief economist, contract activity rose again in May for the fifth straight month, increasing the likelihood that home sales are off to their best year since the downturn. ‘The steady pace of solid job creation seen now for over a year has given the housing market a boost this spring. It's very encouraging to now see a broad based recovery with all four major regions showing solid gains from a year ago and new home sales also coming alive,’ he explained. However, Yun warned that this year's stronger sales amidst similar housing supply levels from a year ago have caused home prices to rise to an unhealthy and unsustainable pace. ‘Housing affordability remains a pressing issue with home price growth increasing around four times the pace of wages. Without meaningful gains in new and existing supply, there's no question the goalpost will move further away for many renters wanting to become home owners,’ he added. The PHSI in the Northeast increased 6.3% to 93.9 in May, and is now 10.6% above a year ago. In the Midwest the index declined 0.6% to 111.4 in May, but is still 7.8% above May 2014. Pending home sales in the South decreased 0.8% to an index of 127.8 in May but are still 10.6% above last May. The index in the West rose 2.2% in May to 104.5, and is 13% above a year ago. Continue reading
