Category: property market news

Top tips for your bathroom

It’s been a long day at work and you’re a little stressed; what better than a relaxing, hot bath to unwind and loosen up? Bathrooms have become sanctuaries in our homes in recent years, with innovative design and outstanding comfort at the heart of all good bathrooms. If you’re thinking of updating your bathroom, then we have some handy hints and tips to help you create a space to relax in.

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FAMILY HOMES – HOW MANY WILL WE NEED IN FUTURE?

Household projections are a useful starting point for calculating housing needs. The latest projections are 2016-based for England, which estimate that 3,970,000 additional households will form between 2016 and 2041. In Wales, it is projected that 140,000 households will form between 2014 and 2039.

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RENTERS ASPIRE TO HOME OWNERSHIP

Much has been written about the rise in the number of people renting rather than buying their home but, according to the latest English Housing Survey (EHS), 58% of renters fully intend to buy.

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Stamp Duty stumble

Income to the Treasury from Stamp Duty Land Tax (SDLT) receipts fell by 7.5%, the equivalent of £1 billion in the financial year to the end of March 2019.

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Affordability ratio

The affordability ratio for England and Wales hit another peak at 7.83 in 2018. This means that the median property price in England and Wales is now 7.83 times more than gross average annual earnings, according to new data from the Office for National Statistics (ONS).

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Turn the heating down

6 out of 10 people across the UK support the drive to cut emissions to almost zero by 2050, according to a recent poll reported by the Independent. To reach net zero in this timeframe, millions of people will need turn their heating down to 19°C in winter, as one of many lifestyle changes according to the Committee on Climate Change.

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ONE IN TWELVE LANDLORDS UNAWARE OF LEGISLATIVE CHANGES

One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.

Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban.

Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage.

The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.

If you are a Landlord, or thinking of becoming one and you too were unaware of these legislative changes, please get in touch with me and I would be more than happy to discuss these with you. Now is also the perfect time to take advantage of the current offer of three months free management we have available for new Landlords as well as existing Landlords who are bringing new managed properties on with us. The majority of our property management team are ARLA qualified and would be happy provide you with stress-free management and piece of mind for your property or portfolio. Please do not hesitate to get in touch!

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5 Top Tips For Your Kitchen

Whilst the living room is usually considered ‘the heart of any home’ in most UK households, the kitchen plays a much more central role in day-to-day family life. Follow these simple guidelines to achieve kitchen bliss!

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FIRST INCREASE IN TRANSACTIONS IN OVER A YEAR

There were 101,780 residential transactions recorded (on a seasonally adjusted basis) in February across the UK, according to the HMRC. This was the highest level since August 2017.

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