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How have the house prices changed in Nottingham over the last 2 years

Things to do in Nottingham

Eddison Wells is privileged to have an office in Nottingham. As as a Nottingham Mortgage Broker we value the opportunity to 

Despite the fact that the growth in the UK house prices has dawdled down remarkably, to many market watchers surprise it still remains at an all high 5% with much faster growth being seen outside London. More so in areas such as Birmingham, Manchester, and Nottingham which registered an 8.0%, 7.1% and 6.9% increase in the last year alone.


But enough about the UK. Nottingham, in particular, has had quite the adventure in as far as house prices go. In fact, some would say that Nottingham has been on quite the roller coaster over the past 2 years. And rightly so especially with the city taking third place within a period of 12 months with a 6.9% increase and basically taking the lead in as far as the figures go within the past 3 months alone with an all-time high increase of 4.0%.


As a matter of fact, according to the latest data released by the Land Registry, the Nottingham property market is looking pretty good in as far as the future is concerned. More so as the house prices continue to surge on upwards to much greater heights as time passes by. And although national and local property experts were previously worried that a number of external factors on the market including the uncertainty in the economy as in regards to the Brexit decision and the increase in stamp duty and how they may affect the performance, the Nottingham property market still seems to be booming despite it all


So why have the prices continued to soar on upwards despite the consistent doom-mongering and the election?


Well, among other things, the Nottingham property experts believe that the paucity of enough stock to meet the growing demand is one of the reasons as to why the house prices seem to be on the rise every so often. And though alarming more so for the property buyers, Su Snaith who is an estate agent at The Nottingham Building Society urges buyers not to be alarmed at all as Nottingham has an excellent yield on rental properties and more so for investors.


Additionally, the first time property buyers also seem to have had a hand in boosting the current housing market in the United Kingdom as well. How so? Well, first-time buyers were apparently responsible for a third of all the sales in the month of October 2016 which is a 9 per cent rise compared to the figures registered in the month of September of the same year. A trend that has continued to rise over the past couple of months to magnanimous heights.


What does this mean for you?


Well, this fundamentally implies one of two things depending on which side of the divide you lie. If you are looking to sell your house or even rent it out to someone then it goes without saying that the time is nigh for you to do so. For the obvious reasons that you could make a bigger return on your original investment. However, if you are a buyer looking to purchase a piece of property or just want to rent a piece of property from someone, then it is advisable to brace yourself for the inevitable. Which is the large sum of money you are going to part with so as to get your hands on your dream house. Even so, that is not to say that you should not invest in the property. Certainly not. As a matter of fact, many experts will tell you that a house is one of the very best investments you will ever make in your lifetime. And rightly so especially seeing as it unburdens you of having to pay rent every single month. And although you are probably asking yourself how it is going to be remotely possible to pull it off with the house prices going up every so often, the fact that they have gone up does not mean that you can't get one that is well within your budget without having to break a sweat.


How about the future? Is it looking murky or somehow bright?


Well, I would hate to burst your bubble but as the UK economy goes from strength to more strength following Brexit, house prices will also continue to soar on upwards over the next four years or so.


In fact, according to authoritative figures, values will surge by almost a quarter by the time we get to the year 2021 which is an average increase of £ 52,000 from 2017 as customer confidence in the UK property market remains sturdy. This means that an average home will be worth about £ 272,000 which is a rise of about 23.6 per cent.


Is there anything that can be done to remedy the situation?


When it is all said and done, we know full well that there is a lot that needs to be done and can be done in as far as the current housing situation is concerned. For instance, it would be great if the government changed the rules of the game right?


If it was remotely possible for them to introduce a fresh new way of building homes that significantly reduced the colossal cost of land and more to that gave a little bit more power to communities to deliver high-quality, yet affordable homes that so many people are longing for, would not it be superb? Your guess is as good as mine. It would certainly be life-changing for so many people. Because now owning a house would no longer be a fantasy that most people only imagine of but a reality for hundreds if not thousands of people.


I guess all we can do at this point is wait and see what the future holds and hope that somehow things pan out to everyone's advantage. Both property buyers and property owners.

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How house prices have changed in Leeds over the past two years

How house prices have changed in Leeds over the past two years

Eddison Wells is privileged to have an office in Leeds. As as a Leeds Mortgage Broker we value the opportunity to work in an area surrounded by world heritage sites .

How House Prices Have Changed In Leeds Over The Last Two Years

Historically, North West Leeds has offered off-street housing to a huge proportion of students studying full time in the city. Not only this, but the city has also been a host of other domestic dwellers who have mainly comprised of tenants with no permanent residences. Over the years, house prices for rent and sale have been seen to fluctuate inspired by many factors including overall changes in the economy across the country. However, over the last two years, considering there have been fears about brexit, the Leeds housing market has suffered a blow and thus prices have not been at par with most parts of the country. 


Prices fell below national average

According to expert review, house prices fell within the period starting in 2015 and ending in 2017, going as far as lower than the national average. Within this period, housing prices average fell to £194,372 against the national average that stands at £217,939. There are many factors to blame for this shift including the Brexit exodus, which has kept many sectors of the economy waiting in anticipation of the results that would come up.


Many of those who triggered the effect included students who had earlier migrated to the city from foreign countries for purposes of learning, and on top of this there were many companies that had to shift from having their foreign workforce situated within the city as the Brexit debate escalated further. However, there seems to be a recovery as 2017 approaches and this is occasioned by the perceived calm that is gradually coming in due to the fact that not much has happened as regards the Brexit conversation, and investors and people feel the future will be calm equally, hence the willingness to invest in housing in Leeds recently. 


Plentiful rental options 

Another issue that triggered a shift in house prices in Leeds is the increase in rental options vis a vis the number of people available to fill the many available spaces. This definitely meant for investors to recoup their investment and probably service their loans they had to reduce the prices to lure tenants into choosing their houses. The surge also came as there was mass exodus due to the threats brought forth by the Brexit conversation. Many of those who were to invest in Leeds paused the idea to see how the conversation would end. 


Due to the calm that followed going into 2017, these investors started to review their earlier decision and most of them have embraced the idea of moving forward with choosing Leeds as one of their business destination, which means those in the housing business have received a relief as more people buy property and rent for business. With this increase in demand of housing, prices have as well been seen to adjust upwards. Experts quote that politics is a great force through which many investors make decisions, and the trend experienced in Leeds over the past two years was a reaction to the political mood present in the country. 


Testing for the market over past 6 moths

As the uncertainty about Brexit hit a high, the last six months have been a trend of testing to see if there is any possibility of investment options thriving. Therefore, within that period there were many assumptions on the side of investors as well as fears inspired by the possibility of Brexit crushing the market further, so this lead to a drop in house prices by 1.23 percent. This might be seen as a trivial sum, but investors understand the pain of losing even a single Euro to uncertain occurrences, so on their part it was a blow. 


Going into 2017, the value of housing began to pick and as at now is estimated to have risen 1.07 percent compared to one year ago. That’s good news to investors and those in the real estate market as the market seems to have recovered from the uncertainties occasioned by Brexit. However, full recovery is yet to take place as not all investors have embraced the idea of investing. Most of them are having a wait and see approach, which has slowed down progress. 


Empty properties 

An expert review of data collected between 2015 and 2017 showed that at least 30 percent of properties located in student areas lay empty. There were many empty advertised properties, and with this competition came the need to adjust prices to match the demands of the market, so this is one of the reasons prices reduced within the period. This was also the case within adjacent cities and towns, a testimony to the unsettled state of the market due to the Brexit uncertainties and fears among investors who anticipated establishing businesses within the city of Leeds. 


Mass student exodus

Additionally, further research conducted by a council team showed that within the two years period, there was a surplus of student bed spaces, and this affected the prices of houses built for student accommodation. Basically, prices came down as a reaction to the change in supply of tenants. There have also been concerns that most houses converted into student accommodation areas might not easily get back to the family market since the conversion to include student bed spaces came with the need to implement many changes. Those that were converted back to family accommodation had to enter the market at lower prices than new houses build in the family segment. 


Earning the title ‘student areas’ has brought a negative effect on those that are converted back to family housing, and this could mean to sell builders have to tag lower prices. Although there have been efforts to give these areas an image that they are a perfect area for family accommodation, the market has been slow on embracing the idea, so change in prices to an upward trend has also been at a snail speed, to the disadvantage of investors who chose to go for student accommodation initially before reverting to family class housing.

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How house prices have changed in Manchester over the last two years

How house prices have changed in Manchester over the last two years

Eddison Wells is privileged to have an office in Manchester. As as a Manchester Mortgage Broker we value the opportunity to enjoy a nice walk around Castlefield Urban hertiage park on our lunch break.

Manchester has been one of the UK's fastest moving housing markets over the last two years. New developments like MediaCityUK in Salford, the Spinningfields office quarter in the city centre and the city's major Metrolink expansion have made new parts of the city accessible and vibrant, as well as led to a subsequent increases in Manchester house prices.


Where have house prices grown?

Manchester as a whole has seen significant house price growth over the last few years. Certain areas however have seen highly elevated growth rates. These pockets of prosperity are primarily concentrated to the south of the city centre. Charlton has become very popular in the last few years as professionals move out of the city centre and look for areas offering the amenities, culture and sense of community that they have become accustomed too. Didsbury, and in particular West Didsbury, remains very fashionable and popular with young families. 

Closer to the city centre, the Deansgate and Spinningfields building phenomenon shows no signs of slowing down and the Northern Quarter's nightlife and bar culture continues to attract young people. Certain areas of Salford, particularly around the city centre and the MediaCityUK development have also experienced significant house price growth as Deansgate's popularity forces young professionals to look a little further afield in order to get on the housing ladder.


What do the numbers say?

According to Zoopla, one of the UK's leading property portals. house prices in Manchester have increased by 3% in the last year and over a third in the last five years. That's significantly higher than the levels of growth seen in London and the Home Counties, which was once seen as the engine rooms of the UK property market.


This house price growth has led to some issues though. Properties in popular areas of the city such as Charlton and Withington are now increasingly out of the reach of some people who have grown up there. While the city centre has experienced a building boom, construction in these areas is more restricted which has led to a number of supply issues.


What does the future hold?

As with so much else in the UK economy, the future of the Manchester housing market depends largely on the type of Brexit deal the UK is able to negotiate. Much of the demand for new housing in the city centre, particularly student accommodation has come from foreign buyers and there are fears that a 'hard Brexit' deal will cause them to walk away from the UK property market. On the other hand, this might be a boon to young people who are currently faced with years of savings in order to scrape together a deposit for a property in Manchester.


Planning restrictions are another factor that will impact house prices. Whilst the green belt is mostly spoke about in relation to London and South East England, Manchester has one too. This restricts the amount of development that can take place in Manchester's suburban areas. Whilst it might feel like a new skyscraper is popping up every day in Deansgate or Spinningfields, this isn't the case in the suburbs. This has constructed the supply of family housing since the majority of homes being built in these high rise developments are one or two bedroom flats. This restriction means that, even in the event of a property price correction, family home prices in Manchester could remain high for many years to come.


What else is in the pipeline?

The expansion of Manchester's metro link has moved large swathes of the surrounding areas into Manchester's commuter belt. Areas around Wythenshawe and Didsbury are now less than 25 minutes from the city centre on an easy and convenient tram service. There are fewer expansions planned over the next few years but an new link towards the Trafford Centre has just begun and this could give a major boost to house prices in the area once it opens in around 2020.


Manchester also looks set to continue to be the economic engine of North West England. companies are keen to move to and expand in Manchester and that means that many young professionals are looking to rent of buy properties in the area. If London's housing market remains as overheated as it currently is, then it is likely that some young professionals will choose to leave the UK capital in favour of cheaper costs and a higher standard of living in the North West of London. Whilst this would lead to a small drop in house prices in London, it would help to keep thew growth in Manchester house prices on track.


The last two years have seen significant growth in Manchester house prices and that shows no sign of changing in the next two years. The planned developments and the general buzz around Manchester and the North West of England created by the government's Northern Powerhouse scheme and the planned High Speed Two rail link will keep Manchester in the public eye and draw more new people to the city. 


From a simple supply and demand point of view, the future of Manchester'h housing market looks bright. The unknown external factor of Brexit and the UK's general economic performance could however, damage its performance and it will be several years before we can accurately assess the impact this has had.


The housing mix could also be a significant problem. The young professionals moving to Manchester today will be looking for family homes in quieter locations in a few years time. Based on current housing development plans, they will struggle to find them and this could lead to a challenging market with an oversupply of small flats and a massive under supply of detached and semi detached family homes.

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How house prices have changed in Northampton over the last two years

How house prices have changed in Northampton over the last two years

Eddison Wells is privileged to have an office in Northampton. As as a Northampton Mortgage Broker we value the opportunity to go for a relaxing walk around Castle Ashby Gardens.

Home prices in Northampton have been on the rise for the past two years according to a research by Rightmove. The growth in house prices over the past one year since 2016 has reached to 9.1% according to the research. The increment in prices is expected to escalate even further over the coming few years. The high prices of owning homes in Northampton have compelled many citizens to move far away from towns and access cheaper housing. Many people prefer owning homes out of towns and commuting daily rather than acquiring the now almost unaffordable prices for homes in towns and their environs. 


Owning a house in December 2014 was 13.3% more expensive than it was to purchase the same house a year earlier. House builders in Northampton are experiencing a significant change in their profits as in the past two years as compared to past years. Britain’s second-largest housing company which focuses on setting up buildings in Northampton indicated a 30% increment in its profits in 2017 from 2016. The company registered a £457.4m in returns in 2017 as compared to £352.3m at the same period for the first half of the year in 2016. This was after revenues reached £1.7bn, marking a 12% increment. 


According to the building company, there was an 8% rise in sales made to 7,794 as compared to the previous year. The average prices of houses have risen to 213,262, which indicate a 4% increase. Although the price of houses in Northampton has continued to rise steadily making it difficult for more people to own these homes, the company is optimistic that this issue can be addressed. A rise in wages will be one of the main factors which will lead many potential homeowners to move into Northampton and avoid the hustle of commuting to work on a daily basis. 


Mortgage lenders will also play a great role in solving the house menace by providing affordable loans to homeowners. Many first-time home buyers find it hard to buy a house as a one-time investment due to financial constraints. This is in contrast to other homeowners who can sell their property for a better one by adding a little money on top. First-time buyers will be the biggest beneficiaries as they would want to own homes in Northampton and avoid the issue of commuting, and hence cut fuel expenses incurred on their vehicles. 


There is a concern in Northampton with existing homeowners finding difficulties in moving up the ladder. This phenomenon has caused stagnation in property distribution as first-time buyers mix with existing homeowners and depressed activity levels have been witnessed across the region. The region needs a balance in housing whereby existing homeowners can have a chance to upgrade to better houses by selling their houses to first-time homeowners who need some time to figure out how it is like to manage their own homes. Gradually, there will be a uniform distribution of housing among the first-time owners and the existing, which will play a crucial role in subsidizing the prices of houses in Northampton and the surroundings. 


In the capital, the average house prices have reached around half a million pounds as compared to £250,000 average asking price in Northampton. A journey to London from Northampton by train takes less than an hour, while cities like Norwich and Birmingham have many business opportunities. These factors have compelled more homeowners to settle in the cheaper Northampton location while they work from London. 


Steady increase in House Prices

According to BBC, houses prices in Northampton have attained a steady point. Analysis based on June 2017 figures as carried out by Office for National Statics (ONS) indicate that the prices of homes went up by nearly 0.8% or £2,000 to reach £223,000 on average. These figures give homeowners and builders a rough estimate of how much the house will be going for in the coming years provided the prices changes remain steady throughout. 


The Financial Times indicates the lowest inflation rate for three months since May 2017. However, if the records would be compared to the same time in 2016, the inflation rate is only marginally down to 4.9% from 0.1%. According to ONS, the annual growth rate has remained broadly around 5% in 2017 despite its slowing down in mid-2016. The records also show that fewer buyers are able to acquire houses in Northampton on a cash basis as compared to those who use mortgages. 


Political Uncertainty Stagnating House Prices

Political uncertainties and wariness with the approach of Brexit have brought about stagnation in the housing sector as indicated by The Independent. Many people have opted to remain in their current houses as they are unsure of the turn which housing prices will take following Brexit. 


A survey by the Royal Institute of Chartered surveyors carried out in July 2017 shows that the number of members saying that the prices of houses have fallen is equal to those saying that it has risen. A deduction on those seeing a decline from those reporting a positive movement portrayed a positive balance in August 2017 of just 1%, a decline from 7% in June 2017, which marked the weakest measure since early 2013. 


Predicting ahead, many surveyors have indicated that prices are expected to rise and fall in the next three months, September to November. A net 28% still predict an increase in house prices in Northampton over the next 12 months, a considerable strong figure but still lowest positive increment recorded since July 2016. 


Private sector indices portray the same trend which is credited to transaction levels fallings, with both Nationwide and Halifax forecasting a reserved house costs in Northampton of 2% for the entire 2017. Potential homeowners in Northampton have a lot of factors to consider before settling on purchasing their dream houses. The risk of buying a home now is, however, lower than postponing the idea of buying a house when the country is considered to be politically stable.

 

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How house prices have changed in Edinburgh over the last two years

How house prices have changed in Edinburgh over the last two

Eddison Wells is privileged to have an office in Edinburgh. As as Edinburgh Mortgage Broker we value the opportunity to go Brew lab for a nice coffee after work

House prices in Edinburgh have increased significantly over the last decade or so. However, over the last two years the rate of increase has slowed down. There are a range of factors that impact the rate at which house prices change in Edinburgh all of which need to be taken into consideration when analysing the market and predicting what will happen to house prices in the city over the next five years or so.


The numbers: What has happened to house prices in Edinburgh?

Houser prices in Edinburgh have increased relatively slowly in recent years. Over the last two years, prices have risen by only 3% according to Zoopla.com, a leading property portal. Over the last five years, the rate of increase has been only 20%. This compares to 30% in London and almost 35% in Manchester, one of the UK's fastest growing cities.


This is a notable slowdown for Edinburgh, which saw some of the UK's fastest housing growth in the early 2000s. Some have blamed this slowdown on the Edinburgh Trams project, which created major disruption in key areas of Edinburgh city centre and the west end whilst it was being built. However, construction was finished over three years ago and house prices are yet to see a resurgence, despite the relative popularity of the system.


It is likely that the slowdown has more to do with a general slowdown in Edinburgh's growth. The cities creative and retail sectors grew enormously at the start of the 21st Century, catching up to Glasgow where much of this growth had been concentrated throughout the early 1990s. After catching up, Edinburgh has struggled to move further ahead. There are however a number of projects in the pipeline which are designed to kickstart the city's growth again.


Where is the growth concentrated?

Major new building projects in Edinburgh have been relatively few and far between. The enormous Quartermile development, located on the former Royal Infirmary site has taken over a decade to come to fruition. A number of new flats have been built but much of the site remains undeveloped. There has also been a slowing of the rate of development in Leith, where many new developments took place at the start of the 21st Century. 


The has been an increase of development of family homes towards the West of the city. The trams have unlocked new areas of development around Murrayfield which is now an easy 20 minute commute from Princes Street on the popular tram system. This has led to an interesting split in property prices outside the city centre. Flat prices remain high as supply has been relatively constrained, whereas the price of family homes outside of the most popular areas is now closer to that seen across the rest of Scotland.

The student factor

Edinburgh is one of the UK's most popular student cities and all of these students have a major impact on the housing market. The most popular student areas are the tenement developments to the south of the Meadows. Most of the flats here contain three to five bedrooms and are perfect for the student population. Many landlords also choose to 'double dip' by renting out the same flats to performers and visitors during the city's popular Festival season in August. Demand for accommodation is incredibly high at this time of year and rent yields can be exceptionally high. The Festival does cause some areas of the city to grind to a halt however and can make commuting particularly difficult in some parts.


What does the future hold?

scotland has seen a high level of political uncertainty over the last three years and that is likely to continue. In the run-up to the independence referendum, it was not clear if Scotland was about to face one of the largest economic upheavals in its history. Now, a year after the referendum on leaving the European Union, it remains unclear what any final deal will look like if there is one at all. Edinburgh's heavy reliance on the financial services industry makes it more exposed to any negative impact from Brexit that most of the rest of Scotland. If the city's financial services institutions choose to leave or decide to scale back their growth plans then house prices are likely to take a significant hit.


Property owners, landlords and tenants also need to consider the potential impact of any more general economic issues. The UK has not seen a recession since 2012 - general economic patterns would suggest that there may be one on the way in the next couple of years which could lead to a temporary drop or correction in house prices in Edinburgh. However, house prices in the city have not grown particularly in the last few years so there is less of a high cliff for the prices to drop off.


Predicting the future of property prices in any UK city can be very difficult and Edinburgh is no different. There are many factors which have to be taken into account and there is always the possibility that an unknown or unexpected factor could arise that will cause a major increase or decrease in property prices in the Scottish capital.

 

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How house prices have changed in Borehamwood over the last two years

How house prices have changed in Borehamwood over the last two years

Eddison Wells is privileged to have an office in Borehamwood. As as a Borehamwood Mortgage Broker we have the opportunity to bump into celebrities around the Elstree studios. 

Over the past couple of years, there has been a lot of talk about estate agents. A talk that has no doubt roused a lot of curiosity among a plethora of key players that have dealings with the real estate industry. Nevertheless, despite having heard of them time and again there is still so much we don't know about Borehamwood estate agents including their functions and other vital details. In light of this, we are going to explore some of the important things you need to know about estate agents. This will include the definition, what being an estate agent entails and valuable information about some of the credible estate agents in Borehamwood area.


An estate agent has been in most occasions defined as a person or business that makes arrangements for renting, selling or managing properties and other buildings. There are different types of agents depending on what they specialize in. For instance, an estate agent that is specialized in renting is called a letting or management agent.


Going back, the term in its originality made reference to someone who is given the responsibility of managing a landed estate. But with time and as we slowly approached the 20th century, the term started being used as a general term.


  • Haart Estate Agents

Other than being a widely recognized top class independent estate agent, haart also happens to be a trustworthy agent that a number of people have vouched for it as far as integrity and earnestness are concerned. They pride themselves in having capable local teams that are backed by national support to provide customers with the absolute best services. Being a one-stop shop, you can also get a survey, conveyance or mortgage as well. Haart agents are located along Shenley Road in Hertfordshire and their contacts are borehamwood@haart.co.uk and 020 8953 1212.


Twitter: https://twitter.com/haart_uk


Facebook account: https://facebook.com/haartuk/


Business Address: 126 Shenley Road, Borehamwood WD6 1DX, UK


  • Ivy Gate Estate Agents

Ivy Gate is a multiple award-winning business that adopts a somewhat personal and bespoke approach to letting and selling homes. By and large, Ivy Gate specializes in providing their customers with a premium and personal service for a fairly reasonable price. There are a number of places that you can find Ivy Gate including their physical offices in Cockfosters, High Barnet, Well End, Shenly, Hadley Wood, New Barnet, Elstree, Arkley and East Barnet. For purposes of getting in touch with them, you can reach them via email on borehamwood@ivygate.co.uk or by telephone on 020 8213 3200.


Facebook: https://facebook.com/ivygateestateagents


Twitter: https://twitter.com/Ivy_Gate


Business Address: 4, Imperial Place, Maxwell Road, Borehamwood WD6 1JN, UK


  • Martin Allsuch & Company Estate Agents

Martin All such & Company is a top class estate agent located at East England in Hertfordshire Borehamwood. They are widely known and recognized in Borehamwood for being exceptional premier agents in the area as well as a uniquely blended powerful marketing service that provides fairly competitive prices to its valued customers. You can reach them through 020 8953 1175 or visit their website via www.barryallsuch.co.uk for more details.


Twitter: https://mobile.twitter.com/MartinAllsuchCo


Facebook: https://m.facebook.com/MartinAllsuchCo


Business Address: 3 High Street, Elstree, Borehamwood, Hertfordshire, WD6 3BY


  • Barkers Estate and Letting Agent

Located in Shenley and Hertfordshire as well as some parts of Elstree in the South to St. Albans in the North lies the Barkers estate agents offices that help customers find out the real value of their homes in today's ever-dwindling market. One of the things that best describes them is their well able team of seasoned professionals that have tons and tons of experience in the field. To learn more about Barkers you can choose to visit their website via www.barkersestateagents.com or call them via 020 8953 4556.


Facebook: https://facebook.com/Barkers.Borehamwood/?refid=17


Twitter: https://twitter.com/barkersestate


Business Address: 78 Shenley Road, Borehamwood WD6 1EH, UK


  • Simmons Estates

Whether you want to sell, buy, rent or invest in new property, Simmons estates is the best estate agent to go to. More so because apart from customer care, they have also heavily vested themselves in providing unrivaled knowledge, powerful promotions and effective marketing that helps set them apart from their contenders. You can reach them easily via calling through 020 8905 2255 or simply visiting them along 12 Shenley Road. For more details, you can also check out their website via www.simmonsestates.co.uk.


Email: info@simmonsestates.co.uk


Facebook: https://facebook.com/SimmonsEstates


Twitter: https://twitter.com/Simmons_Estates?p=s


Business Address: Simmons Estates 7 Shenley Road Borehamwood WD6 1AA, UK


  • Bernard Gordon & Company

The Bernard Gordon & Company estate agent is a slightly different agent than the rest because it specializes in the acquisition and sale of medical accommodation, day nurseries, schools, residential development and investment opportunities as well as premises meant to be used for community occupation and religious purposes. Among its strongpoint's include the fact that it's strategically located at Vision House along Station Road and can be easily accessed via phone through 020 8099 3119. For more details about it please visit www.bernardgordon.co.uk.


Business Address: 7 Theobald Court, Theobald St, Borehamwood WD6 4RN, UK


  • Michael Yeo Estate Agents

The Michael Yeo agents are located strategically along 195 Shenley Road in Hertfordshire. You can also easily reach them via 020 8953 2112. For more details please check out www.yeo.co.uk.


Facebook: https://facebook.com/MichaelYeoEstateAgents


Twitter: https://twitter.com/michaelyeoea


Business Address: 195 Shenley Road, Borehamwood WD6 1AW, UK


Judging from the information above, you can tell that there are a number of credible and trustworthy Borehamwood estate agents that you can go to whenever you are in Borehamwood and have no idea where to start looking. However, as with anything else for you to be 100% sure it is important for you to do your own due diligence as well. Your own little research that will give you more insight about a certain agent and give you a little bit more perspective of what to expect. It is our hope that the above list will at the very least be helpful in narrowing down to the very best.


 

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How house prices have changed in Birmingham over the last 2 years

How house prices have changed in Birmingham over the last two years 

Eddison Wells is privileged to have an office in Birmingham. As as Birmingham Mortgage Broker we value the opportunity to go .

House prices in the UK's second city have tended to follow national patterns over the last two years or so. However, there are many exciting developments in the pipeline that could give a serious boost to Birmingham's house prices in the next decade and beyond. On the other hand, it's important to consider a number of background factors which are out of the city's direct control which could negatively impact house prices in the city. We've stepped back from the daily whirl of statistics, figures and press releases to consider what's been happening to Birmingham house prices in the last two years and what the future is likely to hold. Read on for our findings.


House prices in Birmingham: The numbers

Birmingham has long suffered an unfairly negative reputation on the UK stage compared to other cities like Manchester, Cardiff or Edinburgh. This has held down the overall rate of growth in house prices and increases have been slower than in other areas of the UK. In the last year, according to the property portal Zoopla.com, house prices have grown by only 1%. That's less than the UK rate of inflation and overall wage growth which means that prices are falling and properties in Birmingham are becoming more affordable in real terms. Over the last five years, prices have increased by 26%. That might sound like a lot but again, it's slower that the UK average and lags significantly behind other major UK cities such as London and Manchester. 


Where are the popular areas?

Birmingham's slightly negative reputation masks the editing buzz in many city centre areas and the pleasant rolling suburbs of family homes that are found a little further beyond. The Jewellery Quarter is popular with artists and young professionals and is just a stone's throw from some of Birmingham City Centre's most popular restaurants and bars. The recent improvements to transportation in Birmingham city centre, including the newly extended tram network have made living in the city centre without a car a much more realistic proposition. This means that it's easier to consider older flats which come without dedicated parking facilities than it once was. This may well lead to a small price surge in city centre accommodation if it hasn't already.


Further afield from the city centre, commuter areas such as Four Oaks have seen improve train services in recent years which have also contributed to a minor increase in house prices. Further significant improvements to Birmingham's transport infrastructure planned for the next decade or so could also help to significAntly lift prices.


What else is happening in the Birmingham property market

As in many other UK cities, student accommodation is playing an increasingly important role on the Birmingham property scene. Many landlords are focussing on the student rental market and purpose built private student accommodation is becoming an increasingly common sight on the city's streets. Birmingham's universities have a strong in terminational reputation and this is helping to fuel demand for student housing.


This trend is also helping to push up the price of family homes. As more and more family accommodation is converted into student housing, the supply of housing is becoming squeezed at a time when demand is going up. Families are remaining in the private rented sector for longer than they did previously as the general increase in house prices, coupled to tighter mortgage lending regulations, makes it ever more difficult for them to take their first step onto the housing ladder. It's possible that large amounts of new housing will be required to tackle this problem.


The High Speed two factor

Birmingham will be the first UK city to be connected to London by the new High Speed Two rail line. This will cut the journey time between the two cities to just over an hour and could make Birmingham into a London commuter town. If journey times are reasonable and fares are relatively affordable then it is possible that some London workers will look to Birmingham and its relatively affordable housing prices once the line opens in the later-2020s. This possibility is reliant on London housing prices remaining as high as there currently are. There are a number of political and economic scenarios which could change the outlook for house prices in Birmingham and the South East of England.


Political factors - Brexit

It seems almost impossible to talk about any issue these days without referencing Brexit. Unfortunately, Birmingham house prices are no exception to this rule. The uncertainty caused by Brexit is placing a small drag on the economy and housing market at the moment. Until we know the kind of deal the UK will end up with, it's difficult to predict what the long term outlook for the housing market will actually be. Brexit could provide a stimulus to the UK economy that will kick-start housing growth in the 2020s. On the other hand, it could cut some key trade links which will give the UK major economic problems to contend with as the new decade dawns.


It's also worth taking time to consider more general background factors. A recession will naturally hit demand for housing and could lead to a dip in Birmingham property prices. Small dips like these are a standard part of the property market and should be taken into account by all property buyers. There's also the possibility of other political events, infrastructure announcements and building projects having their own impact on housing prices in the city.


Whilst the property market in Birmingham has been fairly quiet in recent years, the large number of projects planned for the next decade or so mean that the city has plenty of growth opportunities to look forward to in the coming decade. A number of background factors make this hard to predict accurately but the general outlook for the city appears to be positive.


 

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How house prices have changed in Belfast over the last two years

How house prices have changed in Belfast over the last two years

Eddison Wells is privileged to have an office in Belfast. As as Belfast Mortgage Broker we value the opportunity to go and have a coffee near the Salmon of Knowledge 'The Big Fish" and ponder life.

It is certainly no secret at all that house prices have risen to crazy heights over the past couple of years globally. Ask anyone around and you will probably hear the endless complaints of how hard life is getting and just how bad things are becoming over time. And rightly so.


In fact, according to current figures, in places such as the UK, the house prices increased by a margin of about 4.9% and 4.4 percent within a period of one year. Coming closer home to Belfast, things are no different at all. If you have been keeping a close eye on some of the latest figures relating to the Belfast house prices, then you are probably no stranger to the fact that they have surged quite a bit within the past two years to about 16 percent.


Although this seems to be a good thing to so many people and to an extent a blessing in disguise, quite frankly it is not. On the contrary, the leaping growth should be taken with utmost caution as it is more disquieting than it actually seems to be. In fact, Richard Ramsey, a Chief economist of Ulster Bank is of the idea that it would be so much better for Belfast and Northern Ireland in general if the prices grew by 5 percent or even less.


Commenting on the latest numbers, Richard Ramsey also implied that there is definitely a gap between properties that have been around for a much longer period of time and those that are newly established. Actually, according to him the price index for the Residential Property in Northern Ireland reveals that in general the average house prices augmented by 3.1% per quarter and 4.4% per year.


New Homes Prices


Even so, we cannot completely disregard the fact that if looked at closely the data actually reveals the existence of a two-speed market. With the average price of newly built homes rising at a notably elevated rate than property that has been around for a longer period of time.


Reasons for the Price Changes


So what exactly is bringing about the change in price for the houses in Belfast? Well, among many things the one thing that seems to cause a leap in the Belfast house prices is the fact that there is literally a plethora of newly built establishments that have come up in the past couple of years. And as we are all well aware, unlike the pre-existing and resell establishments that have been at a 10% high, the newly built establishments have managed to garner a bit more traction and hence recorded an 8-year high percentage of 25 percent.


Additionally, though interestingly strange, there has also been a divergence between the rural and urban areas with the rural areas averaging at 6.3 per cent while the urban areas maintained a 3.7% high. Which could be an implication that the urban areas are full to the brim and cannot possibly accommodate more people. But hey, that is not to say that the reason could not be something entirely different such as preference.


However, on the flip side, there is also the issue of the housing shortage that has in a way contributed to expensive rentals. In fact, according to the chief executive of housing charity shelter Campbell Robb, thousands if not millions of people living in the UK are forced to stick to a private housing that is a little bit more expensive simply because of the housing paucity. This, in turn, leaves them with little or no money to cater for other necessities and savings. And as if that is not enough, according to a 2025 housing report done by the National Association of Estate Agents and Association of Residential Letting Agents, there is a possibility that the price of houses in Belfast could increase even further to a whopping £ 190,000 in the next 10 years.


A prediction that has been reiterated by yet another prediction that forecasts a 27 per cent rise in rent from the current weekly average of about £ 134. Which is sad especially because rent prices are already at an all-time high level that people already seem to be struggling to keep up with. Although the situation seems isolated to Northern Ireland and more so in Belfast, that is not the case at all.


In fact, commenting on the matter, residential property spokesman at RICS, Samuel Dickey revealed that RICS forecast a 3 percent rise in house prices in the UK. A trajectory that would in a way be similar to that in the Northern Ireland as well. Additionally, he also added that 2017 would be a year filled with its own fair share of turmoil in as far as the economic challenges go as a result of the political events and supply not being able to meet the demand as is.


Looking at regional comparisons, on the other hand, one would quickly come to the conclusion that Northern Ireland is in a way playing catch up to a much higher degree as compared to other regions in the UK. After all, it has had one of the most magnanimous slumps ever seen in the history of UK and as we are all well aware, the bigger the plunge, the easier it is to see a gigantic boost.


By and large, with the way things are currently panning out at Belfast with the housing prices, it is safe to say that we should brace ourselves for turbulent times ahead as things seem to be moving from bad to worse. Meaning that even buying a house may not be as pleasantly easy as we would all wish it be. However, even with the challenges becoming, even more, many experts still insist that buying a house is a worthy investment that one should still venture into regardless of the current situation.

 

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How house prices have changed in Bristol over the last two years

How house prices have changed in Bristol over the last two years 

Eddison Wells is privileged to have an office in Bristol. As a Bristol Mortgage Broker we have the opportunity have a drink in The Pumphouse and watch the boats sail by.


According to the Hometrack UK Cities Index, Bristol city has been experiencing a slowdown in price growth over the past two years. From late 2015 to 2016, the city was a top property hotspot, overtaking giants such as London regarding house price growth. For instance, in April 2016, the city's year-on-year growth was reported at 12.9 percent.


However, in a dramatic turn of events, the year-on-year growth for 2017 stands at a mere 5.9 percent. The sharp decrease of the value is a clear indicator that a large number of buyers have been priced out of the real estate market in Bristol. The housing turnover across Bristol City has fallen by at least 17% since the beginning of 2015.


House prices are still low in Bristol city

Compared to other cities, the price of a house in City remains low. Currently, the average home price in the city is £268,400. The affordability growth in the city was stretched following a tremendous growth of the town before the Brexit campaign came up.


This trend isn't unique to Bristol alone. The same pattern has been reported in all the major cities in the south. The rate of price growth in some of the cities regarded as unaffordable such as London, Cambridge, and Oxford have dropped from double digits in the past two years.


For instance, London has recorded the slowest price growth over the past five years standing at a mere 3.5 percent down from 13.5 percent in April 2016.


What led to the slow growth?

The report by Hometrack UK Cities points at two major factors as the primary cause of the decrease in price growth in the Southern Cities. One was the drop in investor demand. This was as a result of tax amendments that led to the hiking of the stamp duty rates on second homes.


The second factor that led to the decrease in the price growth especially in 207 was the Brexit negotiations that led to the Brexit referendum. According to real estate experts, the negotiations and the vote was the leading factor that had the greatest impact on buyer sentiment. This, combined with affordability issues is what led to the decreased annual growth rate in the last 12 months.


A weakened Pound

The value of the Pound was on the downfall following the Brexit referendum. As a result, the citizens were exposed to higher prices of food and clothing. Unfortunately, the prices were rising faster than their wages. The result of the inflation was the loss of interest in buying of houses.


Overall, the house prices in the UK have been on the decline over the past one year. Although the inflation slowed, it still stood at 5.3 percent in April 2017, down from 8.7 percent in April 2016.


However, the trend in the North is different. For instance, Manchester experienced the fastest price growth over the past one year with a growth rate of 8.4 percent representing an increment of 2.1 percent from the 6.3 percent recorded last year. Birmingham, Leicester, and Nottingham all recorded a price growth rate of over 7.0 percent.


London is in the fall as well

Real estate experts in London are anticipating for the first real terms drop in prices over 2017 since 2011. However, they are also expecting a continuous growth of house prices in most cities located outside southern England as the numerous households will be rushing to take advantage of the low mortgage rates and an anticipated economic growth. This won't be the case in Bristol until early 2018.


Experts are of the opinion that Bristol City will continue experiencing the same trend of house price growth losing momentum for as long as the housing unaffordability is set a record high. This trend is set to affect Bristol and all the other southern England cities.


The other cities are set to continue experiencing a scarcity of homes for sale which will keep driving up the home prices in the longer term. The availability of home for sale will also remain constrained which is expected to continue straining the market prices in places where affordability remains attractive such as Leicester City.


Expect a Rapid Growth in 2018

Indicators are pointing to an improved house price growth in Bristol and other leading cities across the UK. The property analysts Hometrack are predicting a six to seven percent overall increase by April 2018. The figures are slightly higher compared to what the analysts predicted in December last year. Despite the uncertainties surrounding the Brexit, expectations among investors and property managers remain high.


In fact, Hometrack is expecting the growth to kick off as early as December this year before it reaches the peak in 2018. Some of the other cities which have been touted to record tremendous house price growth in 2018 include London, Oxford, Birmingham, and Leeds.


Just like London and Oxford, Bristol city Bristol city experienced a slow house price growth and low mortgage rates last year. However, the falling unemployment rate in the city is expected to support the expected price growth.


Increased Number of Mortgages Approved by lenders

The Real estate market in the country has remained more buoyant in leading cities since the Brexit vote as the home prices continue to soar high. However, there seems to be light at the end of the tunnel as mortgage approvals from British Banks hit a five-month high in August.


According to the statistics published by the bankers, lenders approved 41,587 mortgages for house purchase in August. This was a 9% increase from the 40, 385 approved mortgages in July. It is expected the high levels of employment and the low mortgage rates will push the prices high. However, experts are still warning of weaker spending power among the consumers.

 

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How house prices have changed in Borehamwood over the last two years

How house prices have changed in Borehamwood over the last two years

Eddison Wells is privileged to have an office in Borehamwood. As as a Borehamwood Mortgage Broker we value the opportunity to 


Borehamwood house prices have shown some interesting trends over the last few years. Whilst initial fears of a Brexit related house price crash proved to be unfounded, there has been a notable slowdown in the rate of increase over the last 12 months. 

If you're buying or selling houses in Borehamwood or the surrounding area then you'll want to know what the local market is doing. We've performed an in depth analysis of the trends over the last few years and pulled together a few theories on what will happen next. These are the essential facts you need if you're in the Borehamwood property market.


Who is moving to Borehamwood?

Borehamwood's position in north London, well inside the M25 has long made it a popular choice for families looking to escape the hustle and bustle of central London. More recently, the huge rises in London property prices have pushed hundreds of young professionals out of the city centre towards communities like Borehamwood. This has caused prices to spiral. According to Zoopla.com the average property price in the area has increased by over 300% in the last 20 years. The current average value of houses in Borehamwood stands at £407,000.


How do the prices compare?

Borehamwood's average asking price of £407,000 may be high compared to the rest of the UK but it's low compared to the surrounding area. The average price of a property in Hertfordshire is £46,000 higher than in Borehamwood. This is despite Borehamwood having the advantage of lying within the Transport for London fare zone structure. This means that commuting costs are lower than other London commuter communities in Buckinghamshire or Surrey, where the cost of a day travelcard can easily exceed £30.


The green belt factor

While Borehamwood town centre is not considered to be part of the green belt, the entire surrounding area is. This significantly restricts the amount of development that can take place and makes it very difficult for developers to construct new homes. The general stability of house prices over the last two years is partly attributable to this lack of construction.


The green belt is likely to keep Borehamwood house prices high for many years to come. The government has discussed the possibility of altering the rules around green belt development but any changes would meet significant opposition from communities like Borehamwood. With the government's agenda filled by Brexit and a number of other issues, it is unlikely that they will choose to change the rules on green belt development in the near future. 


What's happened in the last two years?

The rate of property price increase in Borehamwood has slowed significantly in the last two years. The average annual increase has fallen from around 7% to only 1%. That's lower than the rate of inflation and means that local income growth is outpacing house price growth for the first time since the financial crisis of 2008. 


At the same time, the asking price for central London properties has started to fall. This may reduce the number of young families and couples coming to communities like Borehamwood is search of lower housing costs. Any drop in demand for housing like this would cause a further softening of average asking prices.


What will happen next?

Brexit remains a major unknown factor in the UK housing market. Until we have more clarity about the type of deal Britain will get and what this means for the UK economy, it is likely that the housing market will be relatively quiet. Any talk of a 'hard Brexit' may reduce the appetite of foreign buyers to purchase central London property. If this happens, there would then be a glut of property on thw market that would be sold at a much lower price than it currently is. Again, this would reduce the number of people who look as far afield as Borehamwood when they're looking for a property with easy access to Zone 1.


Other factors to consider

On the other hand, not everyone who moves to Borehamwood does so simply because they can't afford to live in central London. The area provides a much more relaxed and family friendly atmosphere than most areas in inner London and it will always appeal to families for this reason. What may change is the mix of properties that are bought and sold. If property prices in central London do drop significantly then the prices of flats will see the most sever impact. Family homes, particularly large detached homes, are unlikely to take as severe a dent.

House prices also track the general performance of the UK economy. In the event of a recession or slowdown, the London and Home Counties property market would expect to take a hit. Again, Brexit uncertainty makes it almost impossible to predict the general performance of the UK economy - the picture should become much clearer in the next 12 months. 

Borehamwood house prices have performed solidly, if not spectacularly, over the last two years. Predicting the next two however is much more difficult. The number of factors to consider is even higher than usual. However, the old rule of house buying still applies. You're buying a place to live, not just an investment. Whilst considering the market is important, you want to find a home you and your family will be happy in.