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So there I am cracking on with our latest investment property development for a client, ahead of schedule on some things, keeping builders on track (and out of the butty shop) where trades are in danger of over running. All going quite smoothly, so far, MPAN numbers acquired for the new gas and electric meters. Gas pipe installed into the property,
Over 600,000 additional private rental homes will be needed in the next three years, according to recent research. Some 600,000 households could be added to the rental market by 2016 to cater for the growth in demand. Despite signs of a recovery the tough housing market means a growing number of people are choosing to rent their home rather than buy.
A recent report has shown that by the time the Millennium child reaches adulthood and is looking to buy or rent their first home the prices they will have to pay will be over 40% higher than todays prices. The National Housing Federation report advises that the increase in the birth rate in the noughties together with the lack of new housing will see millions of young people struggle with increased prices of the future.
A recent study by (RICS) has shown that the Government are still doing nowhere near enough to aleviate the shortage of residential housing in the UK with successive governments failing to come up with a long term strategy to tackle the growing problem.
Many property investors are not factoring in the costs of owning a buy-to-let property with a contingency fund and this is leading to an upward trend in repossessions. Recent statistics show that 20% of all repossessions during the first three months of 2013 were on buy-to-let properties, according to the Council of Mortgage Lenders.
Around 60% of tenants (over 4 million people)in England do not ever expect to buy a home, recent research has shown. Owner occupation in England has decreased by 200,000 in the last 4 years also and the number of private tenants in England rose by 23% in the same period.
The sales figures of residential properties sold in the UK has reached its highest level in over two-and-a-half years, with increased activity reported in most parts of the country. February showed the increased market stability seen towards the latter end of last year and the beginning of 2013 turn into an uplift in sales with valuers and mortgage lenders cautiously optimistic that the trend will continue.
Congratulations to Phillip Kelly, Sponsored by Coastal Lettings, on finishing tied 4th and only 2 shots off the winning score of 7 under par at the first event of the season of the Alps tour at the Red Sea Ain Bay Open in Egypt.
The Council of Mortgage Lenders has recently published that the housing market is in recovery. Surprising isnt it, in a market where first time buyers are being asked to come up with a 20 to 25% deposit. Truth be known the findings are based on mortgage lending and not the "Housing Market" Ahhh so what they are saying is that Mortgage Lending has recovered slightly.
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