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Landlords in UK divided over whether the country should leave or stay in the EU
One in three residential landlords in the UK are still undecided about whether they will vote to leave or remain in the upcoming referendum on the European Union, according to new research. The landlord panel survey from the National Landlords Association (NLA) is published a little over a week before the referendum on 23 June which will decide whether or not the UK stays in the EU. The findings show that landlords are evenly split, with 35% intending to vote leave and 35% intending to vote to remain with the rest undecided. Landlords were also divided about whether EU membership would be beneficial to their future business prospects, with 53% believing that EU membership would be beneficial and 47% believing it would be harmful. Regionally, more landlords in London intend to vote to remain in the EU than anywhere else in the UK at 45%. By contrast, more landlords in the North East intend to vote to leave than anywhere else in the UK, with 44% saying they will do so. A breakdown of the survey figures show that in Scotland 42% want to remain and 30% to leave while in Wales it is just 20% who would vote to remain and 40% to leave. Elsewhere it is pretty evenly split with 38% in the East of England for remaining and 40% to leave. In the South West it is 35% and 36% respectively, in the North West it is also 35% and 36%, in the South East it is30% and 37%, while in Yorkshire and Humber it is 33% and 29%. In the West Midlands 31% want to remain and 40% to leave and it is even more diverse in the East Midlands with just 24% opting to remain and 40% to leave. And in London some 45% in the central area want to remain and 29% to leave but in outer London it is 37% and 34%. ‘Landlords, much like the rest of the British public, are divided on how they will vote in the EU referendum which means the decision looks to go down to the wire,’ said Richard Lambert, chief executive officer at the NLA. ‘The Remain and Leave campaigns have both had difficulty persuading the public on the benefits or hazards of a Brexit vote, and they have struggled to provide any clear analysis about the impact exiting the EU would have on the buy to let market,’ he explained. ‘As a result, landlords appear more likely to vote in this referendum based on their attitudes to issues such as national security, trade, and immigration, rather than the effect on the UK property market or their businesses,’ he added. Continue reading
Large drop in new properties coming onto market in England and Wales
The supply of properties for sale in England and Wales has slumped in recent years to alarmingly low levels, according to latest figures to be published. The property search engine Home.co.uk has recorded a 51% fall in the number of properties for sale in England and Wales over the last eight years, from 855,585 in April 2008 to just 415,038 in April 2016. There has also been a 26% decline in the number of properties for sale in April 2010 compared to April this year. In addition, there was a 12% decrease in the total stock of property for sale in April this year compared to the same month last year. These figures are published as the firm’s latest asking price index shows there were price rises in all parts of the UK in May, with the mix-adjusted average asking price for England and Wales jumping 0.8% since April. Further figures looking at new properties coming on to the market each month offered only a small crumb of comfort that the situation may improve, the research also shows. These latest monthly figures found there had been a modest 4% increase in the number of new properties coming on to the market in April 2016 compared with April 2015. However, this is still 43% down on April 2008's new monthly listings figures. April 2016's new properties tally of 110,031 is also 7% down on April 2010's figure of 117,803. A regional breakdown of the figures shows that every mainland UK region has seen a marked downturn in the number of new properties coming on to the market when comparing April 2008 with April 2016. In the East Midlands, South West and West Midlands, there was also a dip in supply of new properties between April 2016 and the same month last year, while two areas, the North East and North West, recorded no change at all in supply when comparing April 2015 and April 2016's figures. Greater London saw a sharp spike of 22% in supply of new listings when comparing April 2015 and April 2016's figures but this is still 53% down on April 2008 and 8% down on April 2010's figures. This shows that despite the recent surge in new listings in the capital, its overheated market is still in dire need of more properties. There was a small increase in new properties coming on to the market between April 2015 and April 2016 in the South East, but this affluent area still has a chronic supply problem. An eight-year comparison in this region reveals a 44% dip in the number of new properties for sale in April 2008 and in April 2016. Elsewhere, Scotland's new monthly property tally in April 2016 was 36% down on figures for April 2008 and in Wales the figures were down by the same proportion. The East of England and Yorkshire and The Humber saw 3% growth in new properties for sale in April 2016 compared with April 2015. However,… Continue reading
Research finds many UK home owners not investing in the outside of their homes
Over half, some 55% of UK home owners live in areas with unattractive features such as untidy gardens, spaces used as dumping grounds and overflowing bins, yet many are failing to invest in their own home’s exterior or garden space. The Britain at Home report from Lloyds Bank Insurance reveals the most common neighbourhood afflictions identified by home owners. Some 34% identified untidy gardens or outdoor areas, 18% buildings in disrepair and 18% outdoor spaces used as dumping grounds. As a result of living in poorly maintained neighbourhoods, 61% of home owners are suffering negative feelings about where they live, including being irritated, upset and uncomfortable. Lloyds Bank Insurance makes the point that taking care of properties is not just for aesthetic purposes but helps prevent maintenance problems. For those living in unsightly neighbourhoods, containing overflowing bins, vandalism and rubbish, the problem is so bad that 20% are even considering moving house. Concerns over unsightly neighbourhoods are also having an impact on community relations, as 36% of home owners believe the issue is dragging the area they live in down. In turn, this is leading to financial worries as 12% think the value of their home will decrease because of its surroundings. This may be a valid concern, as the some 55% of house hunters believe that a well a property that is well maintained on the outside is important and 53% want a nice neighbourhood. ‘It is disturbing to see how many people are unable to love where they live, and that many homeowners are so affected by their neighbours that they are considering a permanent move,’ said Allison Ogden-Newton, chief executive of Keep Britain Tidy. ‘It is clear that while people in the UK acknowledge a widely held desire to live in a pleasant environment, this is often not being achieved, and with huge consequences. There are things we can all do to improve our external spaces, which will increase well-being and even reduce crime, therefore making our neighbourhoods better places to call home,’ she added. Despite criticising the upkeep of their neighbours’ homes, the research shows that people are failing to invest in their own outdoor spaces. Annual spend on outdoor areas is just £714, compared with the £3,579 spent indoors. Some 16% of those who hardly spend or would like to spend more on their outdoor space put this down to a lack of time and 14% prioritise upgrading indoors over outdoors, but for 56% the primary obstacle is that they cannot afford to improve this space. Many home owners also fail to ensure they have the right protection in place with only 38% of home owners confident that all the items in their outdoor space are insured while 24% revealed that they haven’t spent any money to keep their outside areas safe and secure, for example investing in locks, alarms or security lights. … Continue reading
