Category: prices (5)

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.

It seems that Brighton certainly holds a lot of good property investment opportunities for investors who invest in the right properties.
The most popular and in demand properties are studio flats, 1 bed flats and 2 bed flats where tenants will generally do a flat share. These types of properties are most certainly what investors should be looking to invest in as they will rent out easily and will offer good returns over the medium to long term. However, there are 3 opportunities that investors could employ in Brighton..

Investors could target the city centre young professional market and invest in studio apartments or 1 and 2 bed flats. Studio apartments can be purchased for around £115,000 and a good one bed flat can be bought for around £140,000. Both of these kinds of properties offer good rental returns and have good capital growth potential over a 5 to 10 year period.

Your next strategy would be to target the town’s student market. This is a wise choice for many reasons because there will be no lack of students looking to rent and there will be a good student market year on year. The returns on student lets are also good compared to other areas of the rental market. However, competition amongst landlords will be high and suitable properties maybe difficult to get hold of. So you will need to be patient in order to find the right properties to buy.

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Your final strategy is to refurbish or renovate properties and either rent them out or sell them on. This is always a sound strategy to employ in any town or city but Brighton will hold many suitable projects as many of the properties in the town are very old and there will be many great property bargains out there if you look carefully enough. Projects to look out for are converting old town houses or terraced properties into self contained studio flats, or refurbishing old terraced houses and turning them into a modern living environment whilst keeping all of the traditional features which buyers love. If you need help in finding a project please call us on 01273 778 877

If you want to increase your rental profits, you will have to consider putting a larger deposit down or have a long term investment strategy so that you plan to grow your investment over a 5 to 10 year period.

As regards to your investment strategy, you will see the best returns if you have a medium to long term investment strategy of 5 to 10 years. This is probably the safest strategy as you are holding onto your investments over an extended period of time where hopefully property prices will rise meaning that you can build significant equity up in your investments. This is a wise and safe strategy for all property investors.

Twice as many home owners in the UK support the new 3% stamp duty surcharge on additional homes as oppose it, despite loud opposition from landlord groups, new research shows.

Some 47% support the extra charge which was introduced on second homes and buy to let properties on 01 April while 18% are against it and believe that it supports first time buyers.

The results of the poll show that overall concerns about stamp duty have fallen dramatically since the reforms in 2014.In 2014, some 64% of UK adults believed that stamp duty was a serious problem but in 2016 that has fallen to 52%.

Supporters of the stamp duty surcharge on second homes believe the measures are a good way to level the playing field between those buying a home to live in and those making an investment purchase.

‘The buy to let market is slowly destroying the overall housing market and making affordable properties less available for those wanting to own a home as their principal place of residence,’ said one survey respondent.

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The research also found that some feel there has been a shortage of homes available for first time buyers and this will make it harder for buy to let investors competing to purchase similar properties.
It found that there are some anti buy to let feelings, a sense that buy to let may have been inflating house prices and pricing out local residents in some areas. Some also feel that those able to afford to buy a second home or to buy a property for the purpose of letting it out and making profit should be able to afford to pay higher stamp duty on their purchase.

Those who oppose the stamp duty surcharge on second homes suggest the policy could have unintended consequences such as the surcharge being passed on to tenants in the form of higher rent. Comments also indicate that they feel the government is making another tax grab or that the policy is anti-enterprise.

Paula Higgins, chief executive of the HomeOwners Alliance, thinks that the British public believe that homes are for living in and not speculating with. ‘The stamp duty surcharge might be bad for landlords but it will allow more young people to realise their dream of owning the roof over their head,’ she said.
‘This is why we initially called for the tax system to differentiate between aspiring homeowners and property investors. However, we must see the money raised ploughed back into building more affordable housing,’ she added.

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%
London£455,98411.5%
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%
Wales£141,5251.7%
North West£144,9140.5%
Scotland£139,911-0.2%
Northern England£123,864-1.1%
source: Nationwide

As demand soars and supply remains tight, the average price of a property coming to market in England and Wales has passed £300,000 for the first time. It’s a £100,000 jump in new seller asking prices from £200,980 in March 2006, to £303,190 today.
There has also been a 3% price jump in March (+£3,903), which is the second-highest at this time of year since the 2008 credit crunch. The positive momentum is spreading north and west with six out of ten regions setting record price highs this month and London is no longer leading the house price rise pack, as prices stand still.

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