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Your Move Property Blog

Thoughts, Opinions & Analysis of the UK Property Market

April 2014 Buy-to-Let Index

May 16, 2014 11:37 by YOUR MOVE

 

RENT RISES DROP TO LESS THAN HALF INFLATION

• Annual rent rises fall to just 0.6%, less than half the latest rate of CPI inflation (1.6%)
• Rent rises total 12.9% since January 2010, but less than cumulative inflation of 14.5%
• Tenant finances improve in April, as late rent drops by £18 million since March

Rent rises across England and Wales have slowed to less than half the current rate of inflation, according to the latest Buy-to-Let Index from LSL Property Services plc, which owns the UK’s largest lettings agent network, including national chain Your Move.

Rents by region

Rents in six out of ten regions are higher than a year ago. The fastest annual increase is in the South West with rents up 4.3% since April 2013. This is followed by a 3.2% annual rise for the East Midlands and a 2.4% increase in the North West compared to twelve months ago.
 
London, Wales and the South East have all also seen rents rise, though more slowly. Rents are up by just 0.6% in all these regions since April 2013.
 
Out of the four regions where rents are now lower than twelve months ago, the North East has seen the greatest fall – down by 3.0%. This is followed by a 2.8% annual drop in the East of England, a 2.0% fall in the West Midlands. Rents in Yorkshire and the Humber are 0.7% lower than twelve months ago.
 
On a monthly basis four out of ten regions have seen rents fall. Between March and April the South West has seen rents drop 0.7%. This was followed by a 0.4% dip in London rents, while rents in both the North East and East of England have fallen by 0.1% since March this year.
 
By contrast Wales has seen the fastest monthly rent rise of 1.1%, followed by a 0.9% monthly increase in both Yorkshire & the Humber and in the West Midlands.
 



March 2014 Scottish House Price Index

May 13, 2014 15:54 by YOUR MOVE

Scottish housing recovery stronger than in North of England

  • Scottish house prices only 2.4% below April 2008 peak, compared to 8.1% in North of England
  • Average prices in Scotland up £6,435 in a year – highest annual rise since October 2010
  • House prices set a new record in Aberdeen City, up 17.1% over the last 12 months
  • Q1 2014 sales up 25% compared to Q1 2013 fuelled by home movers and increased supply 

Commentary on the Index

Donald MacLellan, Chairman of Walker Fraser Steele Chartered Surveyors, a sister company to Your Move, comments: “For households all across Scotland, there is light at the end of the tunnel. The average price in Scotland is now only 2.4% (£3,900) below its pre-recession April 2008 peak. As the independence vote looms on the near horizon and the debates become more ferocious, it will be interesting to note if this has any impact on current trends.

“The Help to Buy scheme and buoyant demand from first-time buyers have been the catalysts spurring the Scottish market on. Sustained growth is bedding down across the country, and on an annual basis average property prices have risen in 66% of all areas of Scotland. The flagship success story is Aberdeen City, where average house prices reached a new record of £219,117 in March 2014, after 17.1% annual growth. The revived confidence at the bottom of the property ladder is rising through the rungs, emboldening home movers to take the plunge after years of hesitation. The highest increase in sales has been in classic family semi-detached homes, increasing by 28%. As activity levels strengthen throughout the price ranges, overall sales in Scotland are up 25% in the first three months of 2014 compared to the same period last year.

Read the full index




April 2014 - House Price Index

May 9, 2014 14:09 by YOUR MOVE

Average house prices climb £1,200 in April - setting new record

• Average prices now at £263,113 peak – £54,000 above recession low point in April 2009
• House sales up 40% year-on-year, with 72,000 transactions in April
• Sales activity fuelled by increases in first-time buyers and buy-to-let landlords
• East Anglia joins ranks of London and South East with prices exceeding pre-recession highs 

Commentary:
 
David Newnes, Director of Your Move estate agents, owned by LSL Property Services plc, comments: “Average prices across England and Wales have risen £1,200 during April, setting a new record. Prices have now climbed over £54,000 (26%) above the recession rock-bottom of April 2009, when the nation was gripped in the gloomy depths of the financial crisis. 
“As the floods and bad weather at the start of the year become a distant memory, sales in April have returned to more normal levels. Total house sales stand 40% higher than at the same point last year, totalling 72,000 in April. Activity is largely being fuelled by increasing numbers of purchases by first-time buyers and buy-to-let landlords, as consumer confidence sweeps the country. Low inflation and healthy wage growth are energizing household finances, and infusing aspiring buyers with greater optimism."
 



Why Move to Canterbury?

May 9, 2014 13:54 by Admin

Are you considering a move to the South East of England? If so, Canterbury is a great place to start looking. Oft considered the spiritual centre of the South East, Canterbury is ideally located for those wanting to explore further afield or those wanting to enjoy all that Canterbury has to offer. And what is that exactly? Read on to find out.

History

No “Why move to Canterbury” article would be complete without a little history lesson. After all, it effects just about everything in the city!

Romans built Canterbury in 1AD, introducing gridded streets, a theatre, public baths and city walls. The Roman’s significant role in the history of the oven also meant that they brought their advanced cooking techniques, leading to Canterbury’s prolific pottery trade.

Later, Canterbury Cathedral was founded (597) and much later, Archbishop Thomas Becket was murdered and consequently canonised there (1170), making Canterbury one of the most notable cities for Christian pilgrimage. This pilgrimage became legend in Chaucer’s 14th-century classic The Canterbury Tales, and the city’s literary heritage was firmly secured when Christopher Marlowe (Shakespeare’s biggest influence) was born there in the 16th century.

Today, much of this history can be observed throughout the city. There’s the Marlowe Theatre, for starters, and Canterbury's skyline is still dominated by the Cathedral. Then there’s the ancient ruins of St Augustine's Abbey, St Martin's Church and Canterbury Castle – serving as reminders of the religious significance of this part of the world.

The great thing about Canterbury is how all of this rich heritage sits side-by-side with the qualities of a modern cosmopolitan city. For example, a medieval witch ducking stool can be observed on the River Stour, just near ASK, whilst the local Waterstones is home to the ruins of Roman baths, which can be found in the basement. These kind of ancient curios are all over Canterbury, you just need to know where to look.

Location

In terms of location, Canterbury ticks a lot of boxes. Lying between the city and the towns of Faversham, Whitstable and Herne Bayis the ancient forest of Blean- one of the largest areas of woodland in England at over 11 square miles. It’s also home to a druid woodland sculpture park and a 13th century manor house.

If beaches are more to your liking, the upmarket seaside town of Whitstable is just down the road and actually sits in the City of Canterbury borough. Whitstable has a fascinating maritime heritage. It hosts an oyster festival every year and many of the local restaurants serve locally caught seafood. It’s great place to spend a sunny afternoon if you enjoy quirky craft shops and real fish and chips.Bear in mind that the beach is pebbly, so if you prefer sand simply follow the coastline to the award winning beaches of Broadstairs.

Aside from the landscape, and for those keen to maintain contact with the Big Smoke, you can get from Canterbury to the centre of London in less than an hour thanks to the new high-speed railway. Overall, an excellently located city with state of the art connections.

Shopping & Nightlife

If the history and location of this place aren’t enough to make you want to move here, the shopping and nightlife options will.

Picturesque cobbled streets are home to delis, artisanal bakeries, boutique shops and art galleries – great for those who prefer independent businesses. Discover hand-made crafts at Siesta and local beer at the Old Buttermarket, or head over to the Moat Tea Rooms for an old fashioned afternoon tea.

If all of that sounds a little too quaint for your tastes, the ultra-modern Whitefriars Quarteris probably more up your street. Featuring all of the usual high street stores, Whitefriars Quarter was built in 2004 to cater to Canterbury’s burgeoning need for shopping space. These days, it’s the largest shopping centre in East Kent and ideal for those who prefer Topshop to a charity shop.

In terms of nightlife, Canterbury is great if you enjoy culture and an atmospheric drinking hole. There are plenty of highly rated pubs and bars that regularly host gig nights, cabarets and poetry slams. However, whilst there are a number of clubs, Canterbury is quieter than one would expect of a city. This will suit some people down to the ground, but if you’re a party-hard type, you might find Canterbury a little sleepy.

Schools

The city and surrounding areas are home to four universities, eight secondary schools and thirty primary schools.

Due to the number of universities, Canterbury is often bustling with students, giving it a very lively and youthful atmosphere. You can checkout Oftsted reports on local schools but generally speaking, it is much like the rest of the UK in that most are highly regarded, with a few problem schools and a few exceptional ones.

Property

Since the high-speed railway opened in 2009, Canterbury and its surrounding villages have been attracting property buyers who want to commute to London. With its abundance of period property and all of the above, it’s a very popular destination for home buyers.

What’s more, prices are distinctly cheaper than the other cathedral cities of Oxford and Cambridge. If you aren’t fussed about a central location, it’s also worth checking out the villages of Bridge, Bishopsbourne, Barham, ElhamWingham, Littlebourne and Wickhambreaux.

 

Do you live in Canterbury or are you considering moving there? Share your stories of the city below. 




House Price Index Infographic 2014

May 9, 2014 11:49 by YOUR MOVE

LSL Property Services April House Price Index reported that average prices across England and Wales have risen £1,200 during April, setting a new record.

 

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