Tag Archives: shows
UK dream home is detached with three bedrooms and two bathrooms
A three bed, two bathroom detached period property is the dream home for people living across the UK, according to new research. Most are looking for a detached home with this type of property topping a new survey by Leeds Building Society which found that 48.5% want this kind of place to live. Some 52.4% would like a home with three bedrooms and indeed 74.3% said this was a minimum requirement while 76.2% said that one bathroom is not enough and 56.2% saying that two bathrooms is a priority. When it comes to choosing a property the top feature was location, mentioned by 72.9%, followed by 68.5% saying that size mattered and 61.7% giving priority to a garden and outside space. Property layout was important for 56.2% and off street parking for 53.1%. The top feature that buyers were most prepared to compromise on was good interior decoration with 28.7% prepared to overlook this, followed by 23.6% on period features. Some 21.5% could compromise on a new kitchen, new bathroom and a fireplace while 21.2% were unconcerned about the property layout. No garden was the biggest turn off, cited by 35.3%, followed by no drive at 14%, an old heating system at 10.9%, a need for modernisation at 10% and stairs in the living room at 9.4%. ‘When home ownership appears to be a national obsession and there’s a mind boggling choice in types of properties to purchase, it’s perhaps surprising that our survey discovered so many people share the same view of what makes their dream home,’ said Martin Richardson, Leeds Building Society’s general manager for business development. According to Richard Sexton, director of business development for e.surv, it should not be a surprise that the key selling points of a property are those that can’t fundamentally be changed. ‘After all it’s relatively easy to redecorate, but impossible to move a building from one location to another. The findings reflect the fact that house hunters are generally aware of the difference between these categories and take a long term view on changeable factors to ensure they get their preference on the fundamentals,’ he added. Continue reading
New home building in Australia reaches record high but stamp duty also up
New home building in Australia bounced back in the second quarter of 2015 but overall all home owners are paying more in property tax, new figures show. The number of detached houses beginning construction held steady at a relatively high level, while a rebound in multi-unit dwelling commencements provided the overall lift to reach the highest level for any quarter on record, according to the figures from the Australian Bureau of Statistics. The figures show there was a 0.7% increase in detached home commencements while others, predominantly multi-unit dwellings, jumped by 19.2%, driven by a surge in the state of Victoria. The state recorded over 9,000 multi-unit commencements, which is a record high. In the 12 months to March, almost 205,000 new dwellings were commenced, the first time the 200,000 mark has been breached. According to the Housing Industry Association (HIA) leading indicators suggests that the number of commencements in the June quarter will be even higher. ‘When we get the final result for the 2014/2015 fiscal year it is likely to show more than 210,000 new dwellings were commenced during the year,’ said HIA economist Geordan Murray. A breakdown of the figures show that new home starts increased by 1.9% in New South Wales, by 18.8% in Victoria, 20.9% in Queensland and by 12% in the Northern Territory. But elsewhere, there were sizable declines, most notably in South Australia where the strong result in the December quarter was reversed by an 18% fall. They were down 4.8% in Western Australia, 14.7% in Tasmania and down 14.4% in ACT. However, the HIA is warning that for the whole of the housing market the burden of stamp duty payable on house sales is becoming more of a burden, especially for new builds. Its latest Stamp Duty Watch analysis shows that the property tax has increased across the country. In New South Wales, Victoria and the Northern Territory, the typical stamp duty bill now amounts to over $20,000. Stamp duty bills have increased particularly sharply in NSW and Victoria since late last year, according to Shane Garrett, HIA senior economist. ‘Clearly, stamp duty is a major impediment to housing affordability. It is a particularly onerous tax on new housing. In many instances stamp duty is paid multiple times as transactions occur during the new dwelling’s life cycle. This is one example of the inequitable tax treatment of new housing relative to existing property,’ he explained. ‘Independent research conducted for HIA last year provided compelling evidence of the benefits to Australian living standards and economic growth from the replacement of stamp duty with more efficient, broad based revenue raising measures,’ he added. The highest tax on a typical home is in the Northern Territory at $23,128, followed by New South Wales at $22,490, Victoria at $21,790, Western Australia at $17,053, ACT at $16,350, South Australia at $15,080, Tasmania at $8,735 and Queensland at $5,950. Continue reading
Top waterfront homes in UK cost an average of 70% more, new index shows
Prime waterfront properties in the UK are worth up to 70% more than their inland counterparts on average, with the South West commanding an extra 91%, according to new research. Private slipways have the potential to push the premium up to as much as 118%, according to Knight Frank’s latest Prime Waterfront Index which measures the potential value uplift for prime homes with a view of water compared with similar properties located further inland. The index data shows that the South West offers the potential for the most added value with a premium of 91%, followed by the South East at 44% and East Anglia at 41%. The premium is 27% in Wales and 33% in Scotland. The report points out that the South West has the longest coastline of any English region and boasts some of the country’s most expensive waterfront properties, with Sandbanks, Rock and Salcombe some of the prime hotspots. ‘Amenities are also a crucial factor for many buyers and having direct access to water is something many people are prepared to pay a premium for. Private slipways are considered the most valuable feature, pushing up the waterfront premium up by as much as118%,’ said Oliver Knight of the firm’s residential research team. The index report also reveals that properties with a private mooring or pontoon can see the waterfront premium rise to 106% and 105% respectively, while jetties and private beach access can add up to 91% and 86%. In terms of location types, homes situated on estuaries command the largest uplift of up to 96% compared to a similar property inland. Prime harbour side properties enjoy an uplift of up to 91% due to their rarity and prime coastal properties are worth up to 67% more. Heading away from the sea, lakeside homes are 40% pricier than their waterless equivalent, and being situated next to a river can add up to 67% to the value of a prime residential property. ‘Our data suggests that interest in UK waterfront properties extends beyond these shores with individuals from all over the world searching for a waterfront home in the UK last year,’ explained Knight. Indeed, the data shows that excluding the UK, where the majority of web searches originated, this was led by potential buyers in Europe and Asia Pacific. Continue reading
