Property news roundup: North-South rent divide
Plus, how to buy a property at auction, firsttime buyer numbers, and latest rent increases
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Friday 24 January 2014
Latest figures from Move with Us suggest that in the last three months of 2013, rents dropped for tenants in Greater London and the South East, while rising by nine per cent in the North East and Wales, and by six per cent in Yorkshire/Humber.
"Average asking rents in the usually slower performing regions such as Wales and the North East went against the seasonal trend and increased," said Robin King, Director, Move with Us, " closing the gap between the cheapest and most expensive places for tenants to rent in the country. This is likely to have been caused by the lack of supply in the sales market in the North of England which pushed rental prices up."
Buying property at auction
Awardwinning blogger and Evening Standard columnist Sam Collett believes that the increase in investment properties being offered and bought at auction is a trend set to continue in 2014 - in 2012, 34,065 UK properties were offered at auction. Sam's new book 'How To Buy Your Property at Auction' published by Constable and Robinson is a step-by-step guide to the whole process.
Firsttime buyer numbers at six year high
There were 29,100 first-time buyer transactions in December 2013, a 30% increase on December 2012, according to LSL Property Services, the highest level since 2007. The average deposit for a first-time buyer fell to £26,533 in December, 3.6 per cent lower than the previous year although firsttime buyers took out larger mortgages - the average mortgage rose11 per cent over 2013 and reached £122,040 in December
"First-time buyers are returning to the market in their droves, as the property market emerges fully from the shadow of the financial crisis," said David Newnes, director of LSL Property Services. "There is a greater array of deals on offer to buyers with just a small deposit saved, and schemes like Help to Buy are providing vital support to help new buyers access the very best rates. As with the entire market, prices are quickly climbing upwards, but lower rates mean that mortgage repayments are still affordable, despite new buyers having to purchase property with a higher price tag."
The average first-time buyer in December was aged 31, with an annual salary of £36,621. Eight out of ten firsttime buyers wanted to buy a house rather than a flat, 44 per cent were able to self-fund their purchase and 37 per cent received financial help for a deposit from parents or relatives.
Latest figures from the Office for National Statistics show that in 2013 private rental prices paid by tenants in Great Britain rose by one per cent. Rents increased in all the English regions, with the highest increases in London (1.6 per cent) and the South East (one per cent).
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
This three-bedroom flat within a former textile factory spans the corner of the fourth floor and has a balcony
A charming four-bedroom Oxfordshire cottage with oak floors and chunky-beamed ceilings, £465,000
A beautiful one-bed flat in a sought-after portered block, with access to Norland Square communal gardens
A one-bedroom flat within a Sixties school conversion with high-spec design and open-plan kitchen, close to Lambeth North Tube, £435,000
A 17th century four-bedroom house, with open fireplaces, cellar and pool, £600,000
A three-bedroom, coach house with luxury open-plan living space and contemporary breakfast bar
A newly refurbished one-bedroom flat in the heart of Mayfair, close to Grosvenor Square
A charming four-bedroom house overlooking Burleigh Square Park, close to Thorpe Bay
A three-bedroom farmhouse with a large inglenook fireplace and exposed beams
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