Tag Archives: help to buy

Property Hotspot

Want to know the best Property Hotspots?

As investors we are always on the look out for the next property hotspot. But would you have guessed on Bristol being the number one UK property hotspot? In fact, the number of homes sold in the Bristol postcode surrounding Avonmouth nearly doubled in 2014 from the previous year. Are Britain’s latest property hotspots developing into regional house-price bubbles? Well it is looking that way. Avonmouth, next to the Royal Edward Docks (a vibrant area that has benefited from extensive regeneration) was the district with the biggest increase in transactions last year, as sales jumped 94.5pc in 2014, according to new analysis from property agents Hamptons International.

The number of sales rocketed 128 to 249 over the year and house prices grew 21.1pc, double the rate of the national average. In the Hamptons 2014 index of British postcodes by transaction volumes, neighbouring Redcliffe in Bristol city centre came second with sales up 93.2pc last year. It’s all about Bristol!

There has been a huge growing demand to live in and around Bristol. So what are the reasons for this desire to live in Bristol? Maybe because it’s one of the UK’s leading tech scenes. Possibly the relatively large number of new-build developments and high use of the Government’s Help to Buy scheme. For investors, Bristol could be the place for capital growth.

Other UK property hotspots measured by the rise in the number of property sales, included Langdon Hills in Basildon, Essex, which came third in the ranking. Parts of Leicestershire, Cambridgeshire and North Dorset also recorded huge increases in transaction levels. Cardiff also featured in the top ten UK property hotspots, which only studied postcode districts in which there were more than 100 sales in 2013.

Focusing on areas in and around London, Greenwich, Croydon and Dartford all reported an increase in sales too, landing in the top 20 areas by increase in home sales in 2014.

With the extortionate high prices of central London property, these boroughs on the outskirts of London have benefited from those moving out from the centre. High prices for zones one to three for London transport could also be a major factor for first-time buyers buying in Croydon rather than Clapham.

David Cameron Barrington Howe

Is David Cameron using property to win the election?

With the general election nearing, party leaders are coming out in force with their mandates. David Cameron is proposing a move towards tapping into the young first time buyer market which has struggled to get onto the property ladder. “More than 50,000 people have signed up to a scheme which gives first-time buyers a 20 per cent discount on new homes” David Cameron has announced.

The Prime Minister said that providing young people with cheaper properties is the “ultimate symbol” of a country “where if you work hard, you can get on”.

The Conservative – Lib Dem Coalition last year stated that 100,000 of the new homes would be offered to youngsters but the Conservative manifesto will contain a promise to double that number by the end of the next Parliament. “Conservatives want more people to own their own home,” Mr Cameron said. “Home ownership goes to the heart of our political beliefs. It’s simple: we believe having a home of their own gives people and families independence; it helps people stand on their own two feet; and it’s one of the ultimate symbols of a country where if you work hard, you can get on.”

Under the scheme, houses will be built on brownfield land and reserved for sale only to young people under the age of 40 buying their first homes. The discount will be offered on homes up to £250,000 outside London and £450,000 inside London. On a £200,000 the discount would be £40,000 which would go a long way to helping first time buyers. The scheme started in March and have had 52,225 people have sign up.

The Prime Minister further added: “It boils down to backing aspiration, and that’s why helping everyone who works hard own a home of their own is a key part of our long-term economic plan.” It’s important to note that The Labour Party opposes the scheme. Could this backfire against Labour? It remains to be seen.

The commitment is designed to appeal to young voters and is an extension of the party’s flagship Help to Buy scheme, which aims to get people on the housing ladder. Dozens of house builders including Barratt and Taylor Wimpey have already indicated their support for the plans as have a number of local authorities. Mr Cameron has previously said that the homes will not be “rabbit hutches or shoe boxes”, pledging that they will be “places to start and raise a family”.

The Prime Minister added: “We’re going to build 200,000 new homes, twenty per cent cheaper than normal. But the really exciting part is this – they will be reserved just for first-time buyers under the age of 40. Homes built for you, homes made for you – from the Conservative Party, the party of home ownership in our country.” Could this have an effect on the property market as buyers wait until the results of the General election? The race to 10 Downing Street is on with property a hot topic!