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London borough of Kensington and Chelsea has most expensive homes in UK
Boroughs in London continue to dominate the UK’s list of most expensive places for property on a per square metre basis, led by Kensington and Chelsea, new research shows. However, there are pockets outside Southern England where property fetches a high price per square metre, including Altrincham in Cheshire, a number of towns in Warwickshire and the Scottish cities of Edinburgh and Aberdeen. Overall there has been a marked widening in property prices per square metre between southern England and the rest of Britain since 1995, according to the research from the Halifax. Indeed, prices per square metre have risen by 388% in Great London compared with a national increase of 227%. Kensington and Chelsea is Britain's most expensive area with an average price of £11,635 per square meter, nearly six times the national average of £2,033. The borough is the only area in Britain with an average price above £10,000 per square meter with Westminster having the next highest prices at £9,571. Some 16 areas, all in Greater London, have an average price in excess of £5,000 per square meter, four more than last year. Outside southern England, Altrincham in Cheshire remains the most expensive town with an average price of £2,446 per square meter and is followed by a cluster of towns in the West Midlands with Solihull at £2,367, Warwick at £2,363 and Leamington Spa at £2,353. The Scottish cities of Edinburgh at £2,297 and Aberdeen at £2,281 are the next most expensive areas outside southern England. Aberdare in south Wales has the lowest average price, at £910 per square meter. This is less than one tenth of the average price per square metre in Kensington and Chelsea and all 10 of the towns with the lowest prices per square metre are outside the south of England. Four of the ten towns with the lowest average price per square metre are in Scotland with Wishaw at £926, Airdrie at £998, Greenock at £1,004 and Coatbridge at £1,004. Three are in Wales with Merthyr Tydfil at £967 and Neath at £1,005 in addition to Aberdare. The three English towns with the lowest home prices on a per square metre basis are Accrington at £990, Scunthorpe at £1,022 and Blackpool at £1,052. The 10 areas recording the highest house price growth on a per square metre basis over the last five years are all London boroughs. Hackney at 71% recorded the biggest increase over the five year period closely followed by Southwark at 70%. Nationally, house prices per square metre have risen by 18% since 2010 from an average of £1,719 to £2,033 in 2015 with increases across all regions. Greater London has experienced substantially faster growth than elsewhere in Britain with an average increase of 45%. The South East at 22% recorded the next biggest rise. Price increases have been much more modest in many other parts of the country with the smallest rises in the North at 3%… Continue reading
UK house builder vows to create bird friendly home developments
A unique partnership between a home builder and the Royal Society for the Protection of Birds aims to see more wildlife friendly housing developments being built in the UK. Barratt Homes has signed an agreement, believed to be the first of its kind in the country, with the RSPB to boost natural habitats at its forthcoming homes developments in Nottinghamshire using updated landscaping and gardening techniques. As the country's urban wildlife struggles, with 60% of bees, birds, bugs and mammals facing decline, it is hoped that this agreement between the major home builder and the bird protection charity will help boost biodiversity. ‘With hundreds of thousands of homes needed across the country in the next few years, now is the time for conservationists and home builders to pull together to ensure the wildlife is boosted rather than ousted in the process,’ said Mike Clarke, chief executive of the RSPB. ‘We are confident that many positive steps can be taken to build wildlife into new housing developments, giving nature and people a home and increasing quality of life, and all relatively simply and cheaply,’ he added. The partnership will also see Barratt Homes working with the RSPB to raise employee awareness of wildlife friendly best practice across its sites in the region and throughout its supply chain nationally. ‘Our partnership with the RSPB will demonstrate how we can protect and enhance the biodiversity of the local area, benefitting the economy, creating employment and improving health and wellbeing for our customers and the communities we create,’ said John Dillon, managing director of Barratt Homes North Midlands. He pointed out that Barratt Homes prides itself on creating exceptional homes in the finest locations and recently achieved the maximum five star house builder rating in a customer satisfaction survey conducted by the Home Builders Federation (HBF). Continue reading
Almost three quarters of UK first time buyers want a house, not a flat
The majority of first time buyers in the UK are seeking to buy a house rather than a flat, new research has found. Traditionally the way onto the housing ladder has been to buy a flat and then progress onto the second step with a house but today’s first time buyers think otherwise. The research from Clydesdale and Yorkshire Banks shows that currently 72% of first time buyers want a house and this figure is up considerably on last year when only 57% of first time buyers said they wanted a house rather than a flat. The 28% who said they preferred a flat this year is significantly down on 2014 when 43% of UK first time buyers were aiming to buy a flat rather than a house. ‘Our research has underlined the changing expectations of first time buyers and a combination of factors such as people entering the property market at an older age and homeowners staying in their home for a longer length of time is having an impact on the preferred type of home for first time buyers,’ said Steve Fletcher, director of retail banking. The research also highlighted that only Londoners are opting for flats when taking their first step onto the property ladder reflecting the high property prices, availability of housing stock and distinct challenges of buying a home in the capital. The London market shows a stark contrast to the 92% of those surveyed in Yorkshire and 90% in the Midlands who wanted a house rather than sampling apartment living. ‘We recognise everyone has their own particular needs and requirements and that’s why at Clydesdale and Yorkshire Banks we focus on helping customers find the best way to buy their dream property, leaving them to concentrate on what matters most to them such as the location and whether it is a three bedroom home or a one bedroom flat,’ added Fletcher. The banks have a range of competitive mortgages including a 90% LTV mortgage fixed at 3.59% for three years and a 95% LTV mortgage fixed at 4.89% for three years. Continue reading
