Property news roundup: Why do people move abroad?

Plus, flood risk this weekend, l;atest rent levels, and Help to Buy for twentysomethings

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The Independent Online

Two fifths of people with children would consider a move abroad, according to a Lloyds Bank International Private Banking survey. Reasons for moving included improving the quality of life (67 per cent), exposing them to a different culture (59 per cent), and bringing families closer together (53 per cent). Just over a third also cited better schooling and nearly a quarter easier access to healthcare.

The biggest reason for not moving was not wanting to be away from family and friends (70 per cent), although interestingly of those who did want to move 38 per cent mentioned making new friends as the main reason for moving.

Interrupting school was the second main reason for not moving (60 per cent), followed by the whole thing simple being too stressful (38 per cent).

Flood risk this weekend

There is a low but increased risk of flooding this weekend across the whole of England, according to The Environment Agency, as isolated torrential downpours are predicted. The Agency is monitoring the situation closely in case things change and will have teams ready to respond. It is also supporting local authorities who will respond to any reports of surface water flooding.

Anyone who is concerned can sign up to receive free flood warnings, check their flood risk and keep up to date with the latest situation, including a three day flood forecast on the GOV.UK website. You can also keep up on social media using #floodaware

Under 30s and Help to Buy scheme

The Help to Buy scheme is most popular with people aged 20 to 29 years, according to research from Move with Us.

The results also show that 78 per cent of people using Help to Buy are young couples, 10.5 per cent are single and 9 per cent are families. Around three per cent have used it to downsize in the last six months.

"The Help to Buy scheme has been at the centre of many debates," said Robin King, Director at Move with Us. "Despite clearly helping some aspiring homeowners to get a foot on the property ladder, it has come under criticism for potentially creating another housing bubble and not tackling the housing shortage.

"A blanket approach to solving the housing crisis in Britain won’t work because there are very different markets in play. Greater London and the North East are polar opposites. Help to Buy should only be available in regions that need stimulating, such as the North East, otherwise it will create a housing bubble. If it were only accessible in markets where there is enough housing stock to keep pace with demand, prices wouldn’t be artificially inflated and affordability reduced, the very thing Help to Buy was introduced to combat."

Renting a home

The average cost of renting a home increased by 2.9 per cent during April to £848 per month, according to Homelet, meaning that average UK rental amounts are now seven per cent higher than the same time last year.

Greater London experienced monthly and annual increases in average rents of 2.4 per cent and 9.4 per cent respectively to stand at £1,348 per month, the highest amount on record. This means that it is now 96 per cent more expensive to rent a home in the capital than the rest of the UK.

Wales saw a fourth consecutive monthly decrease in average rental amounts. After dropping by 2.6 per cent during April, it now costs an average of £565 per month to rent a home there. Average rental amounts in the West Midlands increased by 1.7 per cent during April to £602 per month, the region’s first rise in rents this year.

Yorkshire and Humberside and the North East are the only two regions to show annual decreases in average rental amounts of 3.4 per cent and 3.5 per cent respectively.

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