UK Property Market
High demand for coastal housing
A recent study by PropertyFinder.Com finds that British homebuyers are losing interest in buying holiday houses overseas and become more willing to own a second property in the
At the same time, many of the coastal towns are turning into micro markets, being governed by other demand factors than the general market. Since many of them are property hotspots, a boom in house prices is expected this summer in coastal towns such as Rock in
This article was submitted by Benjamin Jamieson. Benjamin also regularly contributes to the CoffeePop and has published many articles on click through rates.
read users' comments (0)Homeowners will spend £56 million on gardens this summer
A recent survey from Esure Home Insurance shows that out of 92 per cent of homeowners having gardens, a tenth is going to spend over £500 on landscaping this summer season. This trend, however, can have a considerable impact on garden thefts, since burglars are more likely to take along expensive items such as bikes or lawnmowers. In spite of this threat, only one in two homeowners is considering improving the security of their garden.
The research also finds that while 76 per cent of homeowners have a shed with costly equipment (over £550), eight per cent of them do not use secure locks to protect their items when they are not used. In fact, more than 1.4 million homeowners had something stolen from their shed over the last 12 months.
This article has been submitted by Henry Moore. Henry is also one of the primary writer for Fruity Beauty Blog and has been quoted often concerning botox clinic .
Home ownership increases two-fold in 50 years
A recent study from
Similarly, a major rise is recorded in the average property price, which went from £2,330 to £192,314 in the same period of time. Another trend identified consists in home prices increasing five times faster than in 1957 (11 per cent rate nowadays, compared to two per cent 50 years ago). Among the things that remained roughly the same is the average mortgage rate, which now stands at 5.8 per cent, while in 1957 it was 5.3 per cent.
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Home prices went up by 1.1% in June
According to the Nationwide house price index, the average price for a home reached £184,070 in June, a significant rise from £181,584 in the previous month. Although the survey shows house prices went up by 11.1 per cent from June last year, it still stands behind the already predicted slowdown during the following six months.
In June, the inflation was stronger than specialists expected, as this was the month with the fastest increase of 2007. However, the annual inflation rate is expected to go down by five to eight per cent by the end of the year. At the same time, estate agents are starting to record a drop in the number of new buyers showing interest, while house builders have less and less site visitors.
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Homes Are Sold Faster Without an Estate-Agent
According to a recent study, owners who sell homes themselves, using the internet and “for sale” signs, need an average of two months to close a deal. Comparatively, people who choose to go through an agent are bound to spend more than three months on average to see their house sold. In spite of this, the study reveals that selling through an estate agent remains the option preferred by most owners –with about 85 percent doing so.
At the same time, approximately 55 percent of owners rely on estate agents to set a price for their house. Other commonly used methods include checking the prices in the neighborhood (22 percent), or consulting prices on online portals such as Land Registry (about 10 percent).
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Borrowers Warned About Lenders' Home Insurance and Life Insurance
A Post Office survey showed that approximately eight million home borrowers paid on average £127 more in order to buy home insurance and life insurance offered by their mortgage provider.
About 10 percent of borrowers questioned admitted that they chose to do so because they thought it was compulsory, while 5 percent felt that their chances of getting the mortgage would decline if they refused to buy the insurance. At the same time, 60 percent of borrowers acknowledged that they took insurance from their lenders because it was a more convenient option. Experts, however, state that this is not the best value for the money borrowers can get, as independent providers can offer better insurance deals. Moreover, buying home insurance and life insurance from the lender is not a compulsory criterion for obtaining the mortgage.
This article was written by Oliva Glover, she is a contributor to ModernCleo . Oliva is slowly becoming an authority on accent treatment.
Home Price Growth Down to 0.6% in May
According to a recent study by Hometrack, annual house price growth reached 6.7 percent in May, after home price growth stood at 0.6 percent last month. Moreover, in a number of regions, such as north-west and
Analysts also point out that sales growth has declined over the last month, with supply going up and the number of buyers remaining at the same level. This slowdown is thought to be caused by the rise in interest rates, which put extra pressure on the purchasing power of new buyers.
The submitter of this article is Katie Cox, she is a regular poster to Smuge . Katie is a noted online voice concerning home information packs.
Parental Financial Help Needed by Three in Four Young First-time Buyers
According to a recent survey by the Council of Mortgage Lenders, more than three thirds of young first-time buyers need their parents’ assistance when taking their first step on the property ladder. Research also points out that a quarter of young new buyers were able to buy their first home thanks to the financial help they received from their parents.
This percentage was higher in
Despite the difficulty of buying a home, the survey shows that only as little as eight percent of young persons feel their parents should make extra efforts to help them out. The explanation lies in the fact that parents have already supported their children significantly, and it is unlikely that they can do much more.
This entry was submitted by Ed Fidler. Ed also regularly contributes to the Harrynomics and has been quoted often on non surgical cosmetic treatments.
Changes in Home Planning Legislation
The government intends to adjust the current legislative frame related to home improvements. Consequently, changes such as conservatives, extensions or eco-friendly improvements will be carried out more easily. These improvements will no longer require planning permission, unless they interfere greatly with neighbouring homes.
The application process for planning permission will also be simplified, with common householder appeal decisions being taken in eight weeks rather than 16, as it is the case now. Moreover, a full planning application will no longer be necessary for minor adjustments to a plan already approved of.
While the National Association of Estate Agents (NAEA) was appreciative of the proposals, the Royal Institute of British Architects (Riba) stated its concern regarding the more speedy implementation of poor design decisions.
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New House Prices Up by 0.7%
According to a survey by SmartNewHomes, new properties went up by about £1,700 on average over the last month. However, this translated into a slight increase of the annual average price – only 0.3 per cent.
The biggest rises were registered for town houses, which went up by 2.1 per cent, reaching an average price of £239,196. At the same time, prices for detached and semi-detached homes saw moderate rises of up to 0.4 per cent, while apartment prices increased by up to 0.2 per cent.
The region with the highest rises in new property prices was
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