Category: property market news

didsbury festive market at emmanuel church

Put on your Santa hat and soak up the festive atmosphere at two winter markets in the hall and grounds of Emmanuel Church.

Search for the perfect Christmas gifts amongst stalls selling crafts, art, photography, vintage clothes and more. Winter-warming food, tea and coffee will be served up by The Art of Tea, with a fully licensed bar taking care of your mulled wine requirements!

Live music throughout the day will bring Christmas cheer. All proceeds to the Hope for Children International Charity.

Taking place between 1pm and 6pm on 24th November and also on Saturday 15 December. https://www.didsburychristmas.co.uk/event/didsbury-festive-market1/

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TRANSACTION LEVELS RISE IN AREAS WITH ACCESS TO ULTRA-FAST BROADBAND

  • A quick analysis of sales volumes to date in 2018 indicates that in areas where sales have increased compared to the same period last year, on average virtually half of all properties have access to ultra-fast broadband, with an average download speed of 46.4mbps.
  • In contrast, in those areas where sales have fallen, just under one third of properties have access to ultra-fast broadband and the average download speed is slightly lower at just 42.9mbps.
  • While broadband coverage and speed may well not be the most important factors in choosing which home to buy, their impact on daily life is ever increasing. 89% of adults now use the internet each week, up from just 51% in 2006 (ONS), and a rising proportion of the population works from home for at least part of the week.
  • Upgrade to Inform’s new local demographic pages for analysis of connectivity in your area and check our blog to find out more.
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UK AMONG LOWEST ESTATE AGENCY FEES GLOBALLY

  • A drop of more than a third of the average sole agency fee for a traditional estate agent in the UK, to 1.18% (plus VAT), since 2011 makes it among the cheapest prime location for agent fees in the world.
  • Of the places analysed, only China and Hong Kong had lower seller-side fees at 0.5% and 1.0% respectively. Other countries with significantly higher seller fees including Mexico (7.5%), the USA (5.5%) and France (5%).
  • The UK comes out as the cheapest location to buy in terms of estate agent fees when you consider the combined buying and selling commission fees (assuming no buying agent is used).
  • A survey carried out by TheAdvisory of over 2,000 property sellers in England and Wales, which was reported by Prime Resi, also identified that 95% chose a traditional agent over a new online and hybrid agencies (often with ‘no sale no fee’) to sell their home.
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SPOOKY SPENDS

  • As each year passes, Halloween celebrations appear to be getting bigger in the UK, fuelled by images on social media and product lines developed by retailers. In 2017, 52% of Britons spent money on Halloween products and this rose to 85% for families with children under the age of 5 years old, according to findings from Mintel.
  • New research by Mintel estimates £419m will be spent by Britons on Halloween this year, up by 5% on 2017.
  • We have looked at how many homes this total estimated spend could buy on average in each region. It ranges from 3,401 homes in the North East where the average price of a home was £123,186 in August 2018, to 812 homes in Greater London where property is 319% more expensive.
  • Halloween participation levels also vary by region with the North East, North West and East Midlands regions the most active, where over 56% of consumers indulged in Halloween in 2017.

 

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UK’S AGEING DEMOGRAPHIC

The ageing population in the UK is not a new story but growth in this demographic really picks up speed over the next 10 years, with implications for the housing market.

Over the next 10 years, the percentage growth in the UK’s retirement age demographic vastly outweighs that in children or the working age population. It equates to an extra 2.5 million retirees by 2028.

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What do homebuyers in Didsbury really look for?

If you have ever sold your home, you will be all too familiar with the pressure to make the property look tip-top in time for a viewing. Your home must appeal to the most likely type of person to buy it, so it’s vital to understand a bit about the demand profile in your area. The chart above shows the demographic profile of our part of the world.

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CHOCOLATE BOX PROPERTY

  • There is little else more quintessentially British than the chocolate box cottage. Bringing up idyllic images of rambling roses framing the doorway, thatched roofs, exposed beams and open fires, an escape to a rural retreat is the aspiration of many.
  • We have taken the opportunity during this National Chocolate Week to delve further into this market and the buyers who have made this dream their reality this year.
  • So far in 2018, there have been 2,100 country cottages sold in rural locations across England and Wales. The South of the country dominates, with 46% of sales but a fifth were in the Midlands and 15% in the East. The remaining 19% were spread across the North, Yorkshire and the Humber and Wales.
  • Unsurprisingly, buyers are prepared to pay a premium for a rural idyll. Chocolate box cottages sold this year for an average of £364 per square foot. This is 33% higher than the average price paid for all homes across rural locations.
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JUST 35% OF THOSE AGED 25–34 OWN THEIR OWN HOME

  • Just 35% of 25 to 34 year olds were homeowners in 2017, down from 55% twenty years ago. Only 60% of young adults with a 10% deposit and a loan based on an income multiplier of 4.5, can afford the cheapest properties in their local area according to a new report produced by the Institute of Fiscal Studies.
  • Rising property prices, primarily prior to the financial crisis, compared to incomes have been the major factor in this change. Adjusting for inflation, average house prices in England have risen by 173% over the last twenty years, compared to real incomes of those aged 25 to 34 which have risen by just 19%.
  • Regional disparity in house prices is far more acute than among incomes. Across London and the South East over 90% of young adults would need to save at least six months’ income for a 10% deposit on an average priced home in their area. This compares to under 60% across the North East, North West and Yorkshire and the Humber.
  • The introduction of incentives such as Help to Buy, have undoubtedly proved beneficial for many first-time buyers. Nearly 170,000 have benefitted from a Help to Buy equity loan since its introduction in 2013. Similarly, over 69,000 first-time buyer households have saved on average £2,300 each thanks to the first-time buyer stamp duty tax relief announced in the 2017 Budget.
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New HMO legislation

In England on the 1st October 2018, the criteria for what kind of House in Multiple Occupation (HMO) needs a mandatory licence was extended.

The UK Government announced in May 2015 that it would be changing the criteria for Mandatory HMO Licensing in England in a bid to address poor conditions and overcrowding in the private rented sector. This means that from October this year, all HMOs must be licensed if they house five or more occupants, from at least two unrelated households irrespective of the number of storeys that the property has.

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