How developers are funding local infrastructure projects

Fortitudo Property has generated in excess of £5 MIllion as part of the Community Infrastructure Levy in Poole (CIL). And part of this goes towards the CIL Neighbourhood Portion fund that is earmarked specifically for local infrastructure projects to improve facilities including local open spaces and plan, transport, health, education and more. Continue reading

How the south coast property market is changing

Showing yet again that the property market is withstanding the economic uncertainty surrounding the Brexit negotiations, the student housing market in particular is booming.

JLL (corporate investment property experts) predict that the student housing market will account for £1 in every single £10 invested in commercial property by the end of the year. Continue reading

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

Can blockchain fix the UK’s property market?

Blockchain technology underpins the much talked about Bitcoin – the leading cryptocurrency. If you’re not sure what blockchain is, then think of it as a permanent ledger used to record transactions. In addition to being user generated, it’s also tamper proof and therefore represents an unassailable record of proof. And its potential for use in the property sector are wide ranging. Continue reading

Uk’s average house price is now eight times more than the average wage

London’s housing crisis continues to worsen as the latest research suggest that the majority of housing in the least affordable areas of London is on average eight times the cost of the average UK wage, writes property developer Richard Carr.

London

Richard Carr's luxury home image

The housing value vs wage ratio continues to grow

According to eMoov, London as a whole has average house prices which succeed the average wage by 14 times!

Unsurprisingly, both London and Kensington top the list with the average property price at £1.2m. The price of property in the borough is a ridiculous 46 times the average wage of £26,624 and the nation’s biggest gap in wage to property ratio by a long way.

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.

Continue reading

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.

Continue reading