Property News Round-up 23/3/16

Property News All The Latest Updates


Hi guys welcome to our fortnightly property news blog, as usual we will be taking a look at the latest domestic news and will be taking a look back at last week’s budget to taking a tour of a fairy tale castle in Greater Manchester – can you guess the property’s price tag? If you missed our previous property news round-up catch up here.


Budget 2016: What It Means For The Property Industry

George Osborne Budget 2016

Last week George Osborne made a number of announcements in his 2016 Budget that will affect the property industry here in the UK.

The chancellor, (as quite a few were expecting) did not take a u-turn with regards to the additional stamp duty rate. So what does this mean exactly? In a nutshell, it means an extra 3% levy on top of normal stamp duty rates if you buy multiple properties.

In addition, he also scrapped the “slab” system for tax rates on commercial property purchases. According to the IBT, the reform now works like income tax, with the rate only applied to the portion of the property price that falls into its bracket. He also raised rates in the top price brackets and cut them at the lower end. Moreover, only 9% of commercial property purchasers will pay more.

Mr. Osborne also cut Capital Gains Tax (CGT) rates. On the day it was announced that the higher rate will reduce from 28% to 20% and the basic rate from 18% to 10%. If you’re thinking there has to be a catch there, you’ve hit the nail on the head. The catch is the former rates will still apply for sales of residential property. It’s worth noting that Capital Gains Tax is not applied to profit made on your own home. However, if you own any additional properties then CGT does apply to you. This is bad news if you are a landlord as you will be penalised if you decide to sell. This doesn’t apply to all types of property investors. For example, people who have invested via funds will benefit from lower CGT rates on the profits they make.

On the day it was also revealed that property developers must pay tax on their profits. In addition, the HM Revenue and Customs will bring together a task force for targeting offshore developers in the UK. It has been reported so far that the tax office has identified 100 “high risk” developments.

The government stated in the budget that it will work closely with local councils to identify where they can be given more “planning freedoms” to ensure thousands of new homes are built. Additional financial support will be given to councils that plan to build houses on the outskirts of towns and cities (aka garden villages) which consist of 1,500 to 10,000 homes.

Lastly, it was announced that money will be going to the homeless. Osbourne’s budget said that £115m being put towards helping rough sleepers. The majority of the homeless spending will go towards low-cost ‘second stage’ accommodation. However, while many homelessness charities welcomed the government funding, they stressed that the problems run far deeper than a shortage of money.

What are your thoughts on the budget? What other changes would have you liked to have seen Mr. Osborne include on the day?

Image Source : Liverpool Echo

Northern Cities Are Among The Best Places To Invest In Property

Liverpool Property Invest

Northern cities are the hottest up-and-coming areas for UK property investors, according to data released today on affordable homes. (City AM, March 2016)

Research from Which? shows that where property prices are surging, thaey also have an average house price below £200,000.

Liverpool’s city centre takes the top spot for when it comes to affordability. Land Registry data indicates that the average home in the L1 postcode still costs just £120,000 despite house prices increasing 41 per cent over the past year.

Other areas that have seen strong price rises but remain affordable include Bradford’s BD1 postcode which is east of the city’s university.

Manchester’s M12 postcode came fifth on the affordable list with an average house price of £98,000, the area is cheaper than Liverpool’s central district, however prices rises from this postcode have not been as dramatic, rising at 32 per cent.

Are you interested in investing in the north? If so why not check out our guides on Manchester (North and Central) and also our South Yorkshire guide.


Property Prices In Manchester Increased Over 30% In 2015

North of England Property Invest

Staying in the north and looking at property prices a little bit more closer to home (part two of the above if you like), Salford’s M5 postcode recorded the region’s highest rises, with the average value of £127,890 representing growth of 34% in just 12 months.

As Select Property Group mention in one of their recent articles, 2015 was a year in which Manchester firmly established itself as a property investment hotspot. It was named by HSBC as the UK’s number one city for yields, with rental rates being driven by one of the lowest levels of housing supply and a population growing at three times the national average.

Investors have started to whet their appetite when it comes to investing in Manchester due to the fact it has one of the country’s youngest populations, with 60% more 25 to 29-year-olds living in the city. The millennial generation (aka Generation Y) are known for renting and with a vast amount of graduates and others relocating for jobs, Manchester is currently a prime place for property investors.


London Property Prices Rose Almost £500 A Day In January

London Property Prices

Moving from the north to travelling ‘down sarf’- London house prices increased by almost £500 a day in January, according to government figures that provide fresh evidence of a “two-speed” property market. (Guardian, March 2016).

Data from the ONS (office for National Statistics) indicates that London and the South East are still dominating and continue to power ahead with double-digit annual growth rates. In contrast, in other regions of the UK such as in Wales, Scotland and Northern Ireland figures appear to have stuttered to a halt.

According to the ONS, The average London house price hit a record £551,000. This was £15,000 up on December’s figure of £536,000 and an increase of £484 a day.

Dragonfly Property Finance’s managing director Mark Posniak told The Guardian : “This latest annual house price data once again throws into sharp relief the contrast between the housing markets of England, Wales, Scotland and Northern Ireland. They may be geographical neighbours but they could be thousands of miles apart in terms of house prices.”


Fairy Tale ‘Castle’ In Greater Manchester – Can You Guess Its Price Tag?

Manchester Castle

Want to become lord or lady of the manor? Here’s your chance (if you’ve got a LOT of spare cash lying around that is!) Wharmton Tower, in Grasscroft (Oldham) has eleven bedrooms, a separate coach house and even a stone-built summer house – and is just a short drive from Manchester!

Grasscoft has some well-known residents such as Paul Scholes and Dr. Brian Cox and is ideal for those who love to live in a relaxed and quiet surrounding. BUT to live this life of luxury how much will it cost you?


How Much Does The Fairy Tale ‘Castle’ In Greater Manchester Cost? free polls

Image Source : Manchester Evening News

What Are Your Thoughts?

Which of our chosen property stories has interested you the most? We would love to hear from you, feel free to leave us a comment on our Facebook and Google Plus pages. If you prefer to tweet us, tweet @TheHouseCrowd.

In the meantime if you want to know more about Property Crowdfunding do register for our Information Pack which will tell you all about it. 

Register Now For More Information

Property News Round-up 18/11/15

Property News – All The Latest Updates

Hi guys and welcome to our fortnightly property news round-up. Not only has it been a busy week in our office here in Hale with a vast amount of projects that we have undertaken, but it has also been a busy couple of weeks in the property world from more talk in the press about the Northern Powerhouse to property shortages driving up prices.


A Brief Insight Into The Northern Powerhouse


We’ve all heard about the Northern Powerhouse a term that we have heard a lot of in the property industry in particular.

Manchester has a high level of demand from the likes of both students and working professionals and having a buoyant rental market has definitely contributed to its success so far.

On the other side of the Pennines, in Sheffield and the Humber Region they have seen investor numbers increase as more people leave southern cities such as London and Cambridge because of a low property stock and rocketing prices. Like Manchester, Yorkshire appeals to many who are looking to relocate. If you are one of those people and are looking for an alternative we recommend reading our Manchester guides (North and Central) and also our South Yorkshire guide.

It seems that a major factor for the Northern Powerhouse to progress is down to infrastructure. It’s fair to say that investing in transport in Manchester has helped the city out massively; for example, the redevelopment of Victoria Station will allow 700 more trains a day through the city by 2019. In addition, Manchester Airport’s first direct flight to mainland China was announced during China’s Prime Minister Xi Jinping visited last month and also comes after a £1 billion expansion plan.

Transport infrastructure is without a doubt going to be a game changer for the city and its future, one source who works in the property industry has stressed that for Manchester to be in the centre of the Northern Powerhouse it needs houses that are worthy of that position.

Image source and access to the full article click here


Culture Club : Living Near A UNESCO Site, A Yorkshire Case Study

UNESCO Yorkshire

Staying in the north for our next property story, did you know that living near a UNESCO can command a premium of almost £80,000 (You do now!) and those living in “God’s Own County” and are near to its cultural assets can pick up a bargain.

Probably not so much if you live ‘down sarf’, properties that are near to Westminster can reach up to £1,715,292! Luckily in Yorkshire you won’t have that kind of dizzy price tag. In West Yorkshire, Saltaire, a village near to Bradford which was awarded its status as an “exceptionally complete and well-preserved industrial village of the second half of the 19th century,” is the fourth cheapest Unesco area, with the average house price at £155,868. (Yorkshire Post, November 2015)

In addition, property close to Fountains Abbey costs under £300,000. Northern cities such as Bradford and Liverpool are appealing to many because it gives potential investors and buyers to be part of a city that has shaped not only British culture but the world over. So much so we have been involved in a project in Bradford, you can read all about our Woolston Warehouse project here.

Image source and access to the full article click here


Property Shortages Driving up Prices

Property shortages

Research from the Royal Institution of Chartered Surveyors (Rics) shows that across the UK 10% more members saw a fall in instructions by home sellers than a rise. (Guardian, November 2015). However, their research saw a rise in inquiries from would-be buyers.

Property experts have mentioned that potential sellers are being put off by high costs during the moving process and also that there are a shortage of possible places to move is another factor that is deterring people from putting their home up for sale.

In the capital where property prices rose last year, surveyors were less likely to report prices as mentioned in Rics’ research. Furthermore, they mentioned that  their members in every region except London and the east Midlands had seen a pick-up in the number of sales agreed in October.

Does the current climate concern you? Are you looking for another alternative? Why not take a look at our crowdfunding process page.

Image source and access to the full article click here


First-Time Buyers Waiting For Someone To Die So They Can Get On The Property Ladder – Our Research For This Is Money


Two weeks ago in our previous property news blog post we covered a story on Hotel of Mum and Dad – A Fifth of Adults Live at Home with Parents.

Our research indicated some eye-opening results, we found out that 23 per cent of under 30s won’t become homeowners until they inherit money for a deposit. In addition, more than a third of those surveyed, 36 per cent, said they felt they would have to rent forever.

More than half of those surveyed stated that they simply couldn’t afford a deposit and blamed rising house prices and more than a third mentioned that they were not able to afford mortgage repayments.

Our very own head honcho Frazer Fearnhead mentioned in the This Is Money article that “The situation for the younger generation appears to be getting worse, and it’s concerning that so many feel resigned to the fact that they will never be able to invest in property.”

Frazer recommends that if the under-30s look beyond conventional routes to property investment they are alternative ways to make that first step onto the property ladder. One example comes from a young investor, Samuel Hucklebridge who graduated from the University of York with an economics degree who has invested in various projects with us, you can read more about him on our case studies page.

Image source and access to the full article click here


How Much Did This Dilapidated Shed In Peckham Sell For?

Peckham Shed

Just for a bit of fun can you have a guess how much this dilapidated shed in Peckham sold for? The run down Peckham property has been neglected for thirteen years.

The post-war shed was in such bad condition that it will have to be demolished, however, this did not put buyers off as it had quite a large number of people of were interested even though it was to be sold without planning permission and redevelopment.

The dilapidated shed was previously owned by Southwark council and comes with 0.6 acres of land.


How Much Did This Dilapidated Shed In Peckham Sell For? free polls


What Are Your Thoughts?

Which of our chosen property stories has interested you the most? We would love to hear from you, feel free to leave us a comment on our Facebook and Google Plus pages. If you prefer to tweet us, tweet @TheHouseCrowd.

In the meantime if you want to know more about Property Crowdfunding do register for our Information Pack which will tell you all about it. 

Register Now For More Information


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