Tag Archives: tsi
Most home owners in UK who build an extension want a bigger kitchen
Rear and side extensions have become the most popular way for home owners in the UK to increase the size of their property, new research shows. Some 31% of those who have extended their home in the last two years opted to build on the side or behind and most wanted a bigger kitchen, according to the study from Sainsbury’s Home Insurance. Conservatories are the second most popular residential extension accounting for 29%, followed by loft extensions at 15%, garage conversions at 11% and the construction of an outbuilding such as a garden room or home office at 5%. Of those who have undertaken home extensions in the past 24 months some 25% have added between 11 and 20 square meters of additional living space to their homes, while 23% have added 21 to 30 square meters and 18% have added 31 square metres or more. Amongst builders surveyed for the research, rear extensions were the type of home extension most frequently carried out, with 92% of builders having completed one in the past 12 months. These were followed by side extensions at 72%, loft extensions at 54% and garage conversions at 41%. The findings indicate a trend towards families spending more time in larger kitchens where they cook and eat together. According to the builders’ survey bigger kitchens and kitchen diners were the most frequent reason cited for a home extension, with 84% of builders having worked on these. The second most popular intended use for the new space was for additional bedrooms, accounting for 61%, followed by new bathrooms and home offices at 53% each. ‘For those who are improving and extending their homes, it’s crucial to advise their home insurance provider. Making revisions to a property such as adding new rooms could change the value of the property significantly and failing to report alterations may see people left under-insured or with invalidated insurance policies,’ said Tom Thomson of Sainsbury’s Home Insurance. Continue reading
More British buyers interested in property in Italy, research suggests
Favourable exchange rates have led to more potential British buyers looking at the Italian property market and they are also considering more expensive houses, it is claimed. The value of the Italian real estate for which the British have made requests has almost doubled, up 90%, in the last year, according to research from Gate-Away, an online real estate portal that promotes Italian properties to overseas buyers. If in the first quarter of 2014 the average value was €190,000 but in the first three months of this year it was €324,000. The number of requests from the United Kingdom has also increased strongly, up 87.5% in the first quarter of 2015 compared to the same period in 2014. The UK is still the country which generates the highest number of requests with 17.6% of the total, ahead of the United States at 14.2% and France at 9.3%. This is set to continue, the firm says, as the current favourable exchange rate allows the same Sterling budget to stretch to properties which have a much higher value in Euros compared to last year. Requests from the United Kingdom for properties under €100,000 fell from 45% in the first quarter of 2014 to 39% in the first quarter of 2015, contrary to what happened with regard to buildings above €500,000, demand for which rose from 4.9% to 10.7%. ‘The average value of the Italian properties sought by the British has grown tremendously in this first quarter, and even beyond the depreciation of the Euro against the pound,’ said Simone Rossi, commercial director of Gate-Away. ‘More and more Brits that ever are being driven by the favourable economic climate and are finding that the Italian real estate market is far from inaccessible and beginning to consider the idea of buying a house in Italy very seriously,’ added Rossi. The research also shows that after years of unchallenged domination by Tuscany, in the first quarter Puglia topped the list of locations most desired by British buyers with 13.9% of total requests, just ahead of Tuscany at 11.8%, Piedmont at 9.6%, Abruzzo at 9.4% and Liguria at 9.3% of the requests. Some 80% of the requests by the United Kingdom were for individual houses and 20% for apartments. Some 55.7% of the requests are for properties which are already habitable and 20% for property to be restored, which confirms that the English have a preference for this particular type of investment abroad. Continue reading
Bath tops list of most desirable urban location for buyers outside of London
Town and city living is becoming more popular in the England with Bath, Exeter and Bournemouth named as the top locations for urban living. Bath is popular with buyers because of its sophistication and easy access to beautiful countryside, Exeter for its location close to the moors and coastline and Bournemouth for its beach and contemporary architecture. Next on the list, compiled by agency Stacks Property Search, is Cheltenham, Truro, Milton Keynes, Oxford, Marlowe, Wells, Brighton and Winchester. ‘Urban property is becoming more and more sought after, and towns and cities that can offer sophistication, culture, great shopping, schooling and facilities, yet remain relatively small and contained with a clear personality are becoming increasingly popular,’ said James Greenwood of Stacks Property Search. Cheltenham is signalled out for its shopping and desirable suburbs, Truro for being just 30 minutes from some great surfing beaches, Milton Keynes for its lovely old houses within walking distance of the centre, Oxford for its university and culture, Marlowe for being a market town on the River Thames, Wells for being a safe city with a music culture, Brighton as a buzzing and bohemian place to live and Winchester for its quiet riverside walks but just an hour by train from London. ‘What makes these towns and cities so attractive is that they're small enough to be friendly with low crime figures, yet large enough to offer everything that residents want. They're like a hybrid between a market town and London. They don't have sprawling suburbs, so everywhere is fairly accessible on foot and they're surrounded by attractive countryside or seaside,’ explained Greenwood. ‘Urban life on this scale is attractive to numerous types of buyers, including families with older children who don't want to be hidden away in the middle of the country, retirees who want entertainment and company on their doorstep and the younger generation, many of whom find that large city living is too impersonal,’ he added. According to Nick Wooldridge of Stacks Property Search towns within commuting distance of London can be the first stop for city leavers who think that the culture shock of London to country is too severe. But many who arrive in Marlowe, for example, never move on as they enjoy the lifestyle so much. ‘Buyers are looking for a mini-London, and these towns all meet that brief. There are bucket loads of culture, fantastic shopping, a really buzzing atmosphere, restaurants and bars at all levels of the spectrum, good state and private schools, but everything's virtually on the doorstep,’ said colleague Jo Aldridge. While, according to Nicola Oddy it is the location of many of these towns that makes them so special. ‘Truro is an amazing city offering everything an urbanite could possibly want; but being equidistant between north and south Cornish coasts, there are 20 places within half an hour to keep a yacht, go surfing, or picnic on the beach. Bournemouth has seven miles of blue… Continue reading
