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British people aspire to build their own home with the very latest technology
There is still strong demand in the UK from people who want to build their own home with new research showing that 27% aspire to do so and many want the very latest technology. The most common reason for people building their own home is to have the freedom to design it how they want with 79% giving this reason, according to the research by price comparison website Confused. Some 33% would be fulfilling a life-long dream by building their own home and 33% want a property that is unique. But just 7% have actually fulfilled their dream. The research also shows that 34% say they would like to have more modern technologies in their home with 34% wanting to control appliance by smartphone, 21% wanting self flushing toilets and 20% voice activated lighting. Nearly half, 49%, say they would like to have a home security system, 46% would like to have underfloor heating and 40% would like to have a home cinema or entertainment system. Although many people want their homes to be more technologically advanced in the future, it’s clear that technology already plays an important part in today’s modern home. A third believe that modern technologies make running a home easier and 9% already control some household appliances with their phone. Of those who opt for mobile phone control, the majority, 62% use it to control their TV, 29% control their lighting and 13% use their phone to control their curtains. Some 25% say they prefer a more traditional home, 23% think modern technologies in the home encourages laziness and 17% think modern technologies in the home cause complications. Looking forward 10 years to 2025, it would seem that people expect innovative technologies designed to make our lives easier even more prevalent in the home. Some 44% say they think voice activated lighting will be commonplace in the home, with a further 43% predicting security systems with facial recognition will become a standard feature. Some 23% believe that in a decade homes will have remote controlled fridges, 22% foresee steam washing machines and 20% voice activated cookers. Other technological advances that people believe will be rolled out in homes across the country in years to come include sinks with built in dishwashers, smart kitchen surfaces that will identify what’s on them and have the ability to keep food at the right temperature and fridges which creates recipes for the food you have stored inside them. ‘We’re all individuals and it’s understandable that we’d want to reflect this within our homes. Building your own home is the ultimate step towards that goal whether you prefer a more traditional home or one with every gadget on the market,’ said Gareth Lane, head of home insurance at Confused. Continue reading
Metro home prices in the US continued to accelerate in first quarter of 2015
Stronger demand combined with lagging inventory levels caused home prices in the US to accelerate in many metro areas during the first quarter of 2015, new data shows. And the number of areas experiencing double digit price appreciation doubled compared to last quarter of 2014, according to the latest quarterly report by the National Association of Realtors. The median existing single family home price increased in 85% of measured markets, with 148 out of 174 metropolitan statistical areas (MSAs) showing gains based on closings in the first quarter compared with the first quarter of 2014. However, 25 or 14% recorded lower median prices from a year earlier but the number of rising markets in the first quarter was mostly unchanged compared to the fourth quarter of last year, when price increases were recorded in 85% of metro areas. Then data also shows that 51 metro areas or 29% experienced double digit increases in the first quarter of the year, a sharp increase from the 24 metro areas in the fourth quarter of 2014 and above the 37 that experienced double digit increases in the first quarter of 2014. According to Lawrence Yun, NAR chief economist, after moderating to healthier levels of growth at the end of 2014, prices picked up in several metro areas during the first quarter. ‘Sales activity to start the year was notably higher than a year ago, as steady hiring and low interest rates encouraged more buyers to enter the market. However, stronger demand without increasing supply led to faster price growth in many markets,’ he explained. ‘Sales could soften slightly in some of these markets seeing sharp price appreciation unless housing supply markedly improves and tempers its unhealthy level of growth,’ he added. The national median existing single family home price in the first quarter was $205,200, up 7.4% from the first quarter of 2014 when it was $191,100. The median price during the fourth quarter of 2014 increased 5.8% from a year earlier. Total existing home sales, including single family and condo, declined 1.8% to a seasonally adjusted annual rate of 4.97 million in the first quarter from 5.06 million in the fourth quarter of 2014, but are 6.2% higher than the 4.68 million pace during the first quarter of 2014. At the end of the first quarter, there were 2.00 million existing homes available for sale, slightly above the 1.96 million homes for sale at the end of the first quarter in 2014. The average supply during the first quarter was 4.6 months, down from 4.9 months a year ago. A supply of six to seven months represents a healthy balance of supply between buyers and sellers. ‘Home owners throughout the country have enjoyed accumulating household wealth through the steady rise in home values in the past few years. However, some homeowners are hesitant to move-up and sell because they aren't confident they'll find another home to buy,’ said Yun. ‘This trend, in addition to subpar home building… Continue reading
UK house prices up in all regions in April, latest RICS index shows
General election uncertainty saw new instructions fall and house prices rise in all parts of the UK in April, according to the latest report from the Royal Institution of Chartered Surveyors. House prices were driven up again in April as the data showed the third consecutive monthly decline in supply with new instructions falling at their fastest rate since May 2009, the RICS residential market survey shows. While 33% more surveyors saw prices rise in April, the highest reading since last summer, new instructions slipped to a net balance of -21%, the eighth consecutive drop in the last nine months. Moreover, the flow of second hand stock onto the market dropped in most parts of the country. Alongside this, for the first time since August 2014, respondents reported an increase in prices in every area of the UK due to the shift in tone in the London market, where 28% more respondents saw prices rise compared with 6% more surveyors in March who saw house prices fall. Near term member expectations for prices and sales continue to point to relatively modest gains, but 72% of members expect prices to rise over the course of the next 12 months. Meanwhile, in the lettings sector, there is no slowing in the growth of tenant demand, which is helping to underpin higher expectations for rents. Although anecdotal evidence suggests that these trends may have in part been a result of uncertainty ahead of the election, they are also reflective of deeper underlying problems, the report points out, adding that the downward trend in owner occupation rates across the country is a visible sign that affordability constraints bite ever deeper, as does the squeeze on household budgets from higher rents. ‘It is conceivable that the decisive outcome to the election could encourage a pick-up in instructions to agents and ease some of the recent upward pressure on house prices, but it is doubtful that this will be substantive enough to provide anything more than temporary relief. Alongside an increased flow of second hand stock, it is absolutely critical that the new government focuses on measures to boost the flow of new build,’ said Jeremy Blackburn, RICS head of UK Policy. ‘The affordability and availability of homes in the UK is now a national emergency and addressing this crisis must be the priority for the new government. The last time we were building 300,000 homes was in 1963 under Harold Macmillan’s Conservative government, which utilised both public and private building,’ he pointed out. ‘We need a coherent and coordinated house building strategy across all tenures. This should include measures that will kick start a supply side revolution, such as mapping brownfield, addressing planning restrictions and creating a housing observatory to assess the underlying economic and social drivers of housing and provide the impetus for solutions,’ he added. He concluded that introducing demand side measures such as extending Right to Buy will not see the Conservatives deliver on their promise… Continue reading
