Tag Archives: french
Rents in England and Wales up by 3% in 2014, latest index shows
Rents in England and Wales increased by 3% over the course of 2014, despite falling on a monthly basis between November and December, the latest index data shows. The average residential rent across England and Wales now stands at £767 compared to the £745 recorded in December 2013, according to the buy to let index from Your Move and Reeds Rains. The firm said that this ‘strong annual growth’ comes despite falls on a monthly basis, with average rents 0.1% lower than they were in November 2014. ‘Recent months have shown a divergence from usual seasonal norms. Historically, there is a tendency for rents to ease in the winter, particularly December. With fewer tenants willing to relocate in the festive period, landlords usually compete to fill empty properties and agreed rents tend to dip as a result. Last month that happened and rents fell compared to November but by much less than the usual extent,’ said Adrian Gill, director of estate agents Reeds Rains and Your Move. ‘In particular a jobs boom across the eastern regions of England has seen a larger than usual number of people relocating in the winter months. This has pushed up rental prices in these regions even further,’ he added. Indeed, rents are higher than a year ago in eight out of 10 regions of England and Wales. This is led by the East of England, with a 7.6% annual increase. The East Midlands has seen rents rise by 6.2% on an annual basis, followed by London where rents are up 4.1% over the last 12 months, and Yorkshire and the Humber with a 3.4% annual increase. As a result, these four regions have seen a new record for rents in December. By contrast rents in two regions are lower than a year ago. Average rents in the North East fell by 2.1% over the course of 2014, while rents in the South West are 1% lower on an annual basis. Most recently, three regions have seen rents continue to rise between November and December, despite an overall drop on a monthly basis across England and Wales. This is led by London with rents 0.9% higher in December than in November, followed by a 0.7% rise in Yorkshire and the Humber and a 0.2% month on month increase for the East of England. By contrast the South East has seen the sharpest month on month fall in the cost of renting, down 1.5% between November and December. This is followed by a 1.3% monthly drop in the North West and rents in Wales which are now 1.1% lower than in November. The monthly index report also shows that tenant finances deteriorated in December, as is often seen over the festive period. The proportion of all rent in arrears stands at 8.9% as of December… Continue reading
British buyers returning to the French property market
British buyers returned to the French property market in 2014, buying homes for holidays and investment, according to a leading overseas estate agency. Last year Leggett Immobilier says it saw a 43% increase in French properties sold with buyers from 33 different nations. It believes that this diversity demonstrates the global appeal of the property market in France. British buyers top the sales table for 2014 followed by buyers from Belgium, the United States, Australia, and then the Netherlands. ‘British buyers came back to the French market with a bang and our sales pipeline shows that 2015 will see more of the same. We have seen a 43% increase in transaction numbers over the last 12 months, fuelled mainly by confidence levels in the UK and continued low interest rates,’ said Trevor Leggett, chairman of Leggett Immobilier. ‘We have been making sales throughout France and Middle England is buying again. In 2013 the average purchase price for a British buyer was €269,000, we think that in 2014 this will have risen to around €300,000 and that in 2015 it will rise further still,’ he added. The firm has seen a lot of activity in the Alps and Cote d'Azur and pointed out that buyers tend to want properties that are finished to a reasonably high standard and that are in good locations. ‘We're still selling plenty of renovation projects but there is a definite trend towards just furnish to your own taste style properties,’ added Leggett. He also pointed out that the UK general election in May hasn't yet had any effect on enquiry levels. ‘Traditionally buyers of second homes tend to be cautious in the run up to an election but we currently have over twice as many ongoing sales, between exchange and completion, as we did at the start of the year, the bulk of these to buyers from across the channel,’ said Leggett. Continue reading
Half of UK home owners planning to improve their property this year
More than half of home owners in the UK are planning improvements in 2015 with 12% of them hoping to extend or convert their property, new research shows. A growing family is the most popular reason for doing this, however, older kids returning home are also behind people’s decisions to extend, according to the survey from mortgage and loans provider Ocean Finance. Accommodating their growing family is behind the majority of homeowners’ desires to create more space in their property, new research has revealed. Overall some 54% of home owners in the UK are planning to carry out improvements of some sort on their properties this year with 12% wanting to create more useable space in their properties. Of these, 7.2% are planning an extension of some sort, and 4.8% are considering converting either their loft, garage or cellar. While decorating is the most popular home improvement being planned by home owners in 2015, with 25% saying they hope to paint and decorate, extending their property is also a popular option. And it seems the main motivation for this is so home owners can ensure there is space for their families to get the most from their properties without moving. Of those property owners who are planning to create more living space by way of either an extension or conversion, 39% said this is so they can accommodate their growing family. Meanwhile, 14% revealed it is because they have grown up children who are returning to the family nest, or older relatives who are moving in with them. Other motivations given for wishing to extend include needing more space for storage cited by 18%, some 10% wanting large open spaces from a stylistic perspective, 8.8% seeing as cheaper than moving, and a further 8.8% wanting to add value to the property. ‘Despite the recent stamp duty changes, moving house is expensive with legal and estate agency fees and moving costs to meet. So it’s no surprise that so many home owners are looking to improve and in some cases extend their existing property,’ said Ian Williams, spokesman for Ocean. ‘Creating more space is clearly a popular option. It’s interesting to see that a leading motivation for this is family; whether that’s more children coming along or grown up kids coming back. It goes to show that many families are willing to put in the work and the investment if it ensures their home grows with them,’ he added. Continue reading
