Category: renting (3)

The south east of England has been stealing the limelight from London as ‘the’ place to live and work and the Brighton & Hove property market has gone from strength to strength since the election this year. Brighton and Hove property prices rose by more than 11% between June 2014 and June 2015 and cheap mortgage deals have maintained a buoyant house buyers’ market.

The Brighton market is as much about quality of life as it is about investment. Brighton welcomes visitors from around the world each and every day but for residents, the appeal of seaside life doesn’t just stop after the weekend. Once people do relocate to the city, they rarely leave!


Work and play

Families choose Brighton for its range of properties on the market in a distinct selection of property areas. Fresh graduates from the University of Brighton, ranked in the UK’s top 25% of universities for world-leading research, can also live in the city after their degree thanks to its large amount of rental accommodation on offer. Due to its large volume of students, Brighton boasts a large buy-to-let market and was named the best place for the fastest-growing buy-to-let yields in the UK in 2014; in May 2014, the average rental yield stood at 6.7%. Hanover is one of the best areas to find a large selection of student property.

Brighton’s bustling business scene is another reason why people choose to relocate to the city. Brighton was named as the best place to start up a small business this October and has the fourth largest number of start-up businesses in the UK. As the cultural capital along the coastline, Brighton boasts one of the most packed events calendar in the UK, which is great for the local economy and residents.

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Current and future property

Away from the bright lights of the seafront and its bright white Regency and Georgian townhouses, there are many other property pockets to tempt buyers and renters. Victorian property surrounding Preston Park is popular with young families, while residential Hove has Victorian, Edwardian and semi-detached rental and for sale homes on the current market.

This distinct contrast between city and seafront property has created a vibrant property market that is inclusive for every generation.The report notes that property prices are around 44% higher than the England and Wales average and the provision of all types of housing, for all budgets, is now a top priority. Numerous projects are now underway, including a 853 home development in Brighton Marina, and the redevelopment of London Road and Circus Street.

We continue to be excited by Brighton’s sheer range of properties on the market and are eager to watch upcoming developments rise up and transform recognisable spots across the city.

According to a new analysis by Resolution Foundation, nine in ten under 35s on modest incomes could be frozen out of home ownership within a decade, with the 16-35 age group becoming permanent renters as property ownership increasingly becomes restricted to wealthy and older households.

Over 45s now account for three-quarters of all homeowners, while those aged 65 plus make up one-third of homeowners, up from less than one-quarter in 1998 – an increase of 43 per cent Meanwhile those aged 16-34 account for just 10 per cent of homeowners, down from 19 per cent in 1998, a 49 per cent reduction.

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Matt Whittaker, chief economist at the Resolution Foundation, said the findings highlight how much the housing landscape for young, working people on modest incomes has changed.  Meanwhile those aged 16-34 account for just 10 per cent of homeowners, down from 19 per cent in 1998, a 49 per cent reduction.  At the turn of the century, just over half of this group owned their own place; today it’s one-quarter. “If that pace of decline continues, we can expect home ownership to be available to fewer than one-in-ten by the end of the next decade.”

The Resolution Foundation’s analysis, which will be published early next week in a report titled Living Standards 2016, shows that home ownership among under-35s from modest income working households has plummeted, from 57 per cent in 1998 to just 25 per cent.

Meanwhile, levels of private renting have more than doubled, from 22 per cent to 53 per

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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