Entertainment
Heating and double glazing top list of UK home buyers must haves
Central heating and double glazing top UK homebuyers’ list of must have property features followed by a garden and secure doors and windows, according to new research. House hunters opt for a good, reliable broadband signal over highly rated schools, off road parking over a garage and a living room big enough for a large flat screen telly over period features. Indeed, the research from comparison website Gocompare, found that only 15% rated access to good local schools an essential factor in buying a new home and buyers are looking for homes with a bath, separate shower, multiple toilets and en-suite bathrooms. However, it is warmth and energy efficiency that are key priorities for house hunters. Some 79% said that central heating is their top must have feature and 74% said it was double glazing. A good energy efficiency rating and cavity wall insulation are also highly rated features, mentioned by 53%. Some 71% said a garden, 70% secure windows and doors, 58% off road parking and 57% a bath. Local shops and amenities were important to 55% and 54% said friendly neighbours was their top priority. A good reliable broadband connection was mentioned by 53%, while 50% said a landline telephone and 49% a good TV connection while 47% want a second shower and 45% at least two toilets. However, only 16% thought an open fireplace or wood burner were a home essential and just 7% favoured period features. Only 15% of those surveyed said access to good local schools was an essential factor in buying a new home. ‘From our research it’s clear that today’s potential homebuyers are putting practical concerns ahead of aesthetics. They are looking for warm, cosy properties, which are energy efficient and well connected to modern amenities rather than ones that are full of character,’ said Gocompare’s mortgages spokesperson Matt Sanders. He pointed out that as the on-going costs of running a home including paying the mortgage, utility bills and council tax are a real concern, it is perhaps unsurprising then well insulated homes and efficient central heating systems are key priorities. ‘The survey also highlights the important role technology and in-home entertainment plays in our day to day lives, from streaming live TV and films to our reliance on mobile phones. For many people, access to both a strong internet connection and a reliable mobile phone service have become modern home essentials,’ he added. Continue reading
Demand for single family homes in the US rising
Over three quarters of households in the US would purchase a single family home if they were to buy in the next six months, and 79% of renters would choose to buy outside of an urban area, new research shows. The latest quarterly consumer survey from the National Association of Realtors also shows that confidence about now being a good time to buy is waning amongst renters, particularly in the West where prices have solidly risen. Some 85% of current home owners and 75% of renters said they would purchase a single family home, while only 15% of home owners and 21% of renters said that would buy in an urban area. Lawrence Yun, NAR chief economist, said that the survey findings call attention to the glaring need for more supply of single family homes. ‘The American Dream for most consumers is not a cramped, 500 square foot condo in the middle of the city, but instead a larger home within close proximity to the jobs and entertainment an urban area provides,’ he explained. ‘While this is not a new discovery, supply and demand imbalances and unhealthy levels of price growth in several metro areas have made buying an affordable home an onerous task for far too many first time buyers and middle class families,’ he added. According to Yun, it’s time for home builders to double their focus on constructing single family homes. With millennials increasingly buying in the suburbs tight inventory and affordability concerns will likely worsen without significant headways made in housing starts in relation to job creation. The survey found that 82% of home owners believe now is a good time to buy, no change from the previous survey in December 2015 but the number of renters thinking the same fell from 68% to 62%. ‘A high number of home owners are expressing that it’s a good time to buy and this sentiment is no doubt being fuelled by the $4.4 trillion in housing equity accumulation in the past three years,’ said Yun. ‘On the other hand, accelerating home prices and the perceived difficulty in obtaining a mortgage appears to be tugging at the confidence of renters,’ he pointed out. Overall, respondents over the age of 65, those living in the Midwest and those with incomes over $100,000 were the most optimistic about buying now. Among current home owners 56% thought it is a good time to sell compared to 61% in the fourth quarter of 2015. Amidst steep price increases and tight supply, respondents in the West were the most likely to think now is a good time to sell, while also being the least likely to think now is a good time to buy. Among all households in the survey, less than half believe the economy is improving at 48%, down from 50% in last quarter’s survey. Renters, those living in urban areas and respondents with lower incomes were the most optimistic. Across all age groups, when asked… Continue reading
Kensington’s Victoria Road named as the most expensive for homes in the UK
Victoria Road in Kensington in London is the most expensive residential street in England and Wales with an average house price of over £8 million, new research shows. Indeed, 12 of the 20 most expensive roads are in the Royal Borough of Kensington and the top 50 are all in the south of England, the data from Lloyds Bank also shows. There is a £5.5 million gap between the most expensive streets in the South East and the rest of the UK, no million pound streets in Wales and a £7.2 million gap between the most expensive street in Wales compared to central London. The most expensive Welsh street is in Cardiff and with an average house price of £793,000, Druidstone Road is £7.2 million less than Victoria Road in London. Such is the pull of living in Kensington and Chelsea that 12 streets in the Royal Borough are in the list of the 20 most expensive in the country. These include Egerton Crescent with an average price of £7,550,000, followed by Manresa Road at £7,359,000, De Vere Gardens at £6,606,000, Drayton Gardens at £5,954,000 and Chelsea Manor Road at £5,523,000. Other central London locations featuring prominently in the list of most expensive streets are in Westminster, including Eaton Square with an average price of £6,727,000, Chester Street at £5,533,000 and Prince Consort Road at £5,281,000. Away from these two prime central locations, Parkside in Merton in south west London is amongst the 20 priciest streets with an average price of £6,355,000. Parkside is followed by West Heath Road in Barnet, north London at £5,199,000, and Anhalt Road in Wandsworth at £4,686,000. Outside of London Icklingham Road in Cobham in Surrey is the most expensive with an average property price of £3,094,000. The next most expensive in the region is Moles Hill in Leatherhead at £3,085,000, Harebell Hill in Cobham at £3,041,000, Abbots Drive in Virginia Water at £2,937,000, Fishery Road in Maidenhead at £2,821,000 and Wildernesse Avenue in Sevenoaks at £2,167,000. Poole in Dorset is the only area outside the South East that ranks near the top. Sandbanks Road is the most expensive with an average house price of £2,493,000 followed by Western Avenue at £2,433,000 and Haig Avenue at £2,200,000, all of which are in Poole. Newton Road close to the Cambridge Botanic Gardens is the most expensive street in East Anglia with an average house price of £1,853,000 but million pound residencies in northern England are not far behind. The most expensive streets outside southern England are concentrated in the area south of Manchester. Castle Hill in Macclesfield has an average property value of £1,662,000, followed by Macclesfield Road in Alderley Edge at £1,499,000, Torkington Road in Wilmslow at £1,330,000 and Goughs Lane in Knutsford at £1,299,000. The most expensive streets not in southern England are Lyndon Road in Oakham in Rutland at £1,363,000, Tiddington Road in Stratford-upon-Avon at £1,349,000, Rutland Drive in Harrogate at £1,191,000 and Graham Park Road in Newcastle at… Continue reading
