The rise and rise of private rentals

We’re living through a time of huge cultural shifts, including in the property industry. Within a few short years, there has been such a rise in the number of private renters that mortgaged home owners will soon be in the minority.

Experts predict that by 2025, just seven short years away, the number of households owned by mortgage holders will be under six million. At the same time, the number if households living in private rented accommodation will be slightly higher, at six million. Continue reading

Buy-To-Let Bounces Back in Q3 2016

Richard Carr reports on new figures which suggest that during the third quarter of 2016, British buy-to-let sector activity significant improvement on the quarter before, as buyers return in droves.

Limiting expansion

The buy-to-let sector is popular with investors, especially domestically. Figures indicate that one out of every five residential properties were owned by private landlords in 2014, with this number expected to rise to one in three by 2032. A booming buy-to-let market has exacerbated the UK’s housing shortage problem, so high demand has pushed residential prices and rents to new heights. Continue reading

UK House Prices Experience ‘Reverse Ripple’

Recent commentary from a UK-based estate agents suggest that British house prices are experiencing a ‘reverse ripple’ effect, as Central London loses its influence over the rest of the nation.

Defying convention

Traditionally, UK house price rises originate in Central London. The heart of our capital is home to some of the biggest businesses and wealthiest individuals on earth, so demand for Central London property has been high historically. This pushes up Central London residential property values, sparking a ripple which hits outer London, then South East England and finally the rest of the nation. Continue reading

UK’s Property Market experiences growth post-Brexit

Following eight months of steady progress the UK’s residential property market is picking up with prices and buyer demand rising, writes property developer Richard Carr.

Growth

richard-carr-discusses-new-planning-bill

Property market enjoying post Brexit growth

According to the Royal Institution of Chartered Surveyors (RICS), 8% of surveyors reported an increase in buyer enquires in September 2016, which is a significant turnaround based on June when a net balance of 34% of respondents report a drop.

Despite this small positive there’s still the major use around the supply of new homes. As a result, the number of new instructions being received by agents fell once again meaning the average level of stock on estate agents books remains close to historic lows at just over 45 properties.

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First time buyers rush to take advantage of Help to Buy

Following the announcement that the government is to scrap the Help to Buy mortgage guarantee there has been a significant rise in the number of valuations for first time buyers, writes Poole-based property developer Richard Carr.

Deadline

First time buyers - Richard Carr

First time buyers rush to take advantage of Help to Buy mortgage

The mortgage guarantee ends at the year and the number of first time buyers requesting valuations has rising sharply since Chancellor Philip Hammond’s announcement.

According to Connells Survey and Valuation, the number of valuations for first time buyers rose by 18.7% in September on an annual basis.

John Bagshaw of Connells Survey & Valuation believes that many first time buyers are aiming to use the scheme before it closes at the end of December, however he doesn’t think first time buyer activity will suddenly drop at the start of 2017.

Richard Carr hopes that the government are able to benefit first time buyers by building more homes as a result of removing the Help to Buy mortgage guarantee.

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