Category: increase (3)

The latest research has found that, on average, British seaside towns have enjoyed a 32% house price rise over the past decade, rising from from £166,565 in 2006 to £219,386 in 2016 – equivalent to an average increase of £440 per month.

According to the report, Scottish seaside towns dominate the list of areas with the greatest price growth, with seven of the top 10 located in Aberdeenshire, which for much of the period has been well served by growth in the oil and gas sector.

Brighton recorded the greatest increase in value outside of Scotland (59%), jumping from £214,863 to £341,235 over the decade. Other seaside towns in England with the best price performance include Whitstable in Kent (53%), Shoreham on Sea in West Sussex (53%), Leigh on Sea in Essex (52%) and Truro in Cornwall (50%).

Seaside towns are highly popular places to live, offering sought-after scenery, weather and lifestyle which no doubt come at a price. They also attract those looking for holiday properties, which add upward pressure on house prices, which our research shows have increased by an average of £440 per month since 2006.

This is a perfect reason why you should have a property in Brighton because you will never loose money on them because there’s so many benefits to live in a seaside town that there will always be a market.

Well, it’s not so great perhaps if you’re living in the North of England looking at the prices of houses rising in the South of the country at nearly twice the rate. Recent figures reveal that on average, a house in the North of England is worth nearly £163,000 less than one in the South.
In the first quarter of 2016, prices in the South rose by 9.9% year-on-year, compared to just 1.8% in the North. Measured on a monthly basis, the average price of a home in the UK was £200,251 – the first time on the survey that the price has risen above £200,000.
The survey, by Nationwide, also said that prices were picking up and in the year to March, house price inflation across the UK hit 5.7% – up from 4.8% in February and the fastest rate for more than a year.
One reason for the increase may have been the rush by landlords to buy property ahead of Stamp Duty increases on 1 April.

Where prices are rising fastest
RegionAverage price% annual change (Q1 2016 v Q1 2015)
Outer London£344,37112.2%
South East England£255,3258.3%
South West£221,7035.8%
East Anglia£204,9485.8%
West Midlands£168,5854.1%
East Midlands£162,0822.2%
Yorks and Humberside£144,3611.9%
N. Ireland£123,2251.8%
North West£144,9140.5%
Northern England£123,864-1.1%
source: Nationwide

The number of families privately renting homes has increased by one million in the last 10 years, new figures show. This brings the total figure to 1.6 million households, an increase of 50pc over the previous five years, according to the government’s English housing survey.
The huge rise in the number of families moving into the private rented sector highlights that renting is no longer a staging post for young professionals. Increasingly families rent for the long term, raising questions about the availability of appropriate tenures in the sector. The figures are a good guide as to the longer-term trends and a widening divide in the housing market”.
In this respect it shows that the number of households under the age of 35 in the private rented sector rose by more than one million, from 24pc to 46pc, over the past decade, while the number of owner occupiers over the age of 65 who own their own home outright rose by over 900,000.

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