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
What does a house represent? It’s first and foremost a place to live and a form of protection against the weather. Depending on where you live, your house will keep out the cold, heat, wind or wet climate. Continue reading
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.
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
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.
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
New figures from the Office For National Statistics (ONS) indicate that average UK house price growth increased in the year to August 2016, defying expectations. Richard Carr comments. Continue reading
In April 2016, new tax measures went into effect which were designed to curtail UK buy-to-let activity, imposing higher operating costs on landlords. It appears as though reports concerning the death of the UK’s buy-to-let sector have been greatly exaggerated, new data suggests. Continue reading
Hometrack, a research group which analyses the UK’s property market, has released a ground-breaking new study, showing where British residential real estate values have climbed over the past year and decade. Drawing on this research, Richard Carr asks: where are the UK’s next property hotspots? Continue reading
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.
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.
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.
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.