The 2016 twelve-monthly tempo of home costs in the UK have slowed to 4.9percent in April, it’s decreased from being 5.7% the prior period In March of 2016 the twelve-monthly pace of property prices in the UK was at 5.7% and dropped to 4.9% in April. In April property costs increased by just 0.2%, this is the lowest monthly increase since last November. Currently the demand for commercial property has decreased to a record low. In March property owners ended up rushing to beat an escalation in stamp study, this resulted in the selling of properties being at a record high. The decline is partly due to the fact that international traders have been put off as a result of the likelihood of the United kingdoms leave from the European Union; since the EU referendum started to be a certainty international buyers have lost interest in the UKs commercial property. Survey outcomes said that 43% of people believed that a UK leave from the EU would have a negative impression on the profitable property sector.
Estate agents in Dundee believe that if we exit the EU then house values are going to drop, over the next few years. A positive outcome of the drop in costs of homes would be that they are more reasonably priced for first time buyers. They would profit from the lower competition for housing and rental inflation would slow down. Private landlords can choose to just sell their properties, because of the decrease in let inflation.
Although several people are saying property costs will fall if we exit the EU, however there is a discussion on whether or not this is a negative thing. The standard property values would be at a sustainable amount, if the costs did decline. The main advantage would be that it would be better for first time buyer’s particularly younger ones. It may not make things better straight away for first time buyers, but it will as time goes on and costs drop. Although it might have a bad effect on landlords if they have to advertise their properties, as they may not get as much as they previously could. The housing market as a whole may get worse, as the next ten years go by. This might mean that the price of homes will rise, some up to £1m and higher. This would have a bad effect on first time buyer’s by making things more tricky for them.
Up to 25% of your common properties value can be taken off due to Brexit. In North Wales there has been some houses dropping by 7.5% in value over the past twelve months The price of properties in North Wales has been dropping, in the last twelve months, by roughly 7.5%. There would be an increase in interest rates and a major correction in the housing market, as well as lower growth, this would additionally trigger the sudden fall in property prices. The decline in the cost of homes won’t have a bad effect on you, unless your hoping to sell your house or are a buy-to-let landord. Property transactions are likely to descend in the second quarter as potential buyers await the outcome Potential buyers will be awaiting the outcome of the falling prices, which will result in property transactions decreasing during the second quarter. There has previously been a drop in European buyers in the last 3 months; this has then contributed to a drop in costs in the capitals luxury postcodes of as much as 12% as opposed to last year The lack of European buyers being concerned in United kingdom houses over the last few months, has ended up contributing to the fall of prices in capitals luxurious postcodes. Some landlords are not put off by this because they are looking to buy smaller households for which letting demand still remains high.
Although many people love the cosmopolitan and vibrant city of London, it can become just too much to live there for a long period of time. As an alternative to living in the city, you could achieve a better work/life balance, not to mention a better quality of life by living outside of London.
You can do this by moving to Brookmans Park, Hertfordshire. In this area there’s stunning scenery which surrounds some beautiful homes waiting to become part of your family. There’s a huge selection of homes such as of terrace, detached, multi story and bungalows available. In Brookmans Park there is also an upcoming new development called Brookmans, these properties are all wonderfully designed by MH architects.
The homes in this development have luxurious interiors, each home has a modern style Waterford kitchen, and a lot of Bosch integrated kitchen utilities, like fridges and freezers, and bathroom sanity ware from Laufen and Villeroy & Boch; as well as so much more. They have three and four bedrooms, plus the homes are all either terrace, end of terrace or detached and have some parking space; some even have a car port or garage. The development is owned by a fantastic company called Origin Properties; this company operate from offices located in Central London. This area itself is filled with friendly caring people, who make up an amazing community.
There’s also stunning homes which are available in Brookmans Park that aren’t part of Brookmans new housing development; the prices of these vary, for a bungalow the price is around £800,00 and for a 2-3 story home it costs between £1million and £3million. One of these would be a 5 bedroom detached house. This home has 5 bedrooms and 4 bathrooms, its three floors high and is also fitted with CCTV outside; this home was very recently built and is still new. The house is already fitted with underfloor heating too ready for winter and the cold nights. The house has a porch, entrance hall, cloakroom, study, kitchen, front and back garden, as well as enough parking space for a few vehicles.
To prove their care for the area in which they live, they have low crime rates as proved by national crime statistics and they also have high rated schools. There’s also a range of transport options to choose from such as the local bus service which also provides transport for the students of local schools, you can drive around if you have a car or you can get the train from the Brookmans Park Railway Station, which provides direct links to Kings Cross; it also provides trains which go to places such as London if you want to go out for the day or need to get some shopping. There is plenty of stuff for the family to do nearby if you like to read there’s a library which is also great for cold rainy days but you want to go out for a bit, there’s also Gobions Wood which has a licensed fishing lake, nature reserves, a private golf club and 204 acres of stunning parkland great for family picnics and bike rides. When it comes to shops there’s a butchers, bakery, fishmongers and a post office; for essentials such as food and writing material for school.
This just in. UK house prices went up by another 0.6 percent by the end of May. The increase adds £1,200 to the valuation of a regular UK home. The average price of a regular house in UK is not £213,470.
This rise compensates for the dip in April. However, there has been an overall £1,000 rise since the standard price in January. Mortgage lenders are expecting a halt in the growth later into the year.
Growth compared to last month
The Halifax had reported a 0.8 percent dip in April. The fall was caused by decreasing numbers of buy-to-let purchasers in the market. To add to that, was a rise on stamp duty for second homes. The May rise has compensated for most of that fall. The property business is back on track again.
Growth compared to last year
The annual property price growth rate is around the 9.21 percent mark. It is the lowest since November 2015, but more or less unchanged considering the past year. The rate was highest this March, at 10 percent.
Factors for the growth
According to Martin Ellis, the Halifax housing economist, the lowered rates in interest, and the increased employment base is helping to raise the actual profits, and this will keep the housing demand high, and the business in good shape. The root cause of the rise in the annual terms for house prices is obviously the unbalanced supply to demand ratio. The prices of houses are rising not just on an annual basis, but on a quarterly basis.
The trend as predicted
Despite the fast pace at which the UK house prices are rising, the experts are predicting a change of direction in the graph in the coming months. If it does not happen, the prices will be out of bounds by the third quarter, for the average UK resident. This period of a sharp rise will be limited to about two months at the most. This is what Ellis claims.
Jeremy Leaf, an ex-chairperson of Royal Institution of Chartered Surveyors, said that due to the EU referendum ahead, the statistics are not exactly a good enough parameter to predict any trend right away.
The London estate agent also said that the market will stabilize when the results of the vote is out. He advised people to postpone big decisions for the present scenario. The referendum needs to be released first so that people know the new rules. It is not just about the money that could be sky high for some people to afford. The referendum might also lay down rules that could totally change the existing scenario, and get a new owner laid off.
The truth about the rise
Since the market is never stable in a long time frame, this price rise is not a good thing for anybody in the long run, especially for young, aspiring homeowners all over the country. The children of the ones who are profiting from the business today, could grow up finding the prospect of owning a home, an impossible fantasy tomorrow.