tag:blogger.com,1999:blog-41386645710708324632024-03-14T05:16:14.680+00:00The Canterbury Property BlogThis blog follows the buy-to-let market in Canterbury and the surrounding area. You'll find tips, guidance, and analysis that relates specifically to Canterbury and you'll also find properties from all the estate agents in the town on here that may make decent investments. I operate Martin & Co in Canterbury and if you're thinking of buying a property to let in Canterbury, I'm happy to offer a second opinion.The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.comBlogger232125tag:blogger.com,1999:blog-4138664571070832463.post-49593335379761285502017-07-20T16:33:00.000+01:002017-07-20T16:33:51.380+01:00<div style="text-align: justify;">
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<span style="font-family: "trebuchet ms" , sans-serif;"><strong><u>Canterbury
rents rise by 22.6% since 2005</u></strong></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The Canterbury
Property Market is a very interesting animal and has been particularly fascinating
over the last 12 years when we consider what has happened to Canterbury rents
and house prices. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">There’s
currently much talk of what will happen to the rental property market following
Brexit. To judge that, I believe we must look what happened in the 2008/9
credit crunch (and what has happened since) to judge rationale and
methodically, the possible ramifications for long-term investors in the Canterbury
property market. You see, an important, yet overlooked measure is the
performance of rental income vs house prices (i.e. the resultant yields
over time). In Canterbury (as for the rest of Great Britain), notwithstanding a
slight drop in 2008 and 2009, property rentals have been gradually increasing.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The
income from rentals has been progressively increasing over the last 12 years. Today,
they are 22.6% higher than they were at the beginning of 2005. In fact, over
the last five years, the average growth has been 2.4% per annum. From a
landlord’s point of view, increase in average rental income is not to
be sneered at. However, the observant readers will be noting that we are
ignoring an important factor – our friend inflation.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Turn the
clock back to 2005, and we have a property being rented for say £900 a month
and that is still being rented at £900 a month today, in Spring of 2017. While the
landlord is not getting any less income, this £900 is no longer worth as much. Let
me explain, in 2005, £900 may have bought a two-week 4* holiday in Italy. Yet, holidays
have increased in line with inflation (which has been 38.5% since 2005), so our
holiday would cost today £1,246 (<em>£900 + 38.5% inflation = £1,246</em>). Therefore, the
landlord could no longer afford the same holiday, even though having the same
amount in pound notes from their rental property.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">This
means when we compare rents in Canterbury to inflation since 2005, Canterbury
landlords are worse off today, when they receive their monthly rental income,
than they were in 2005 by 15.9%<em> </em><strong>in real terms</strong> (<em>rents increased by 22.6% since
2005, less the 38.5% inflation since 2005 – net affect 15.9% drop</em>) </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">However,
rental income is not the only way to generate money from property as property
values can increase. Although in the short term, cash flows are diminishing,
many Canterbury landlords may be content to accept that for a colossal increase
in capital value.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><strong>Property
values in Canterbury have risen by 65.3% since 2005</strong></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">This
equates to a reasonably salubrious 5.44% per annum increase over the last 12
years. Even more interesting that this includes the 2008/9 property crash, this
will make those Canterbury landlords and investors feel a little better about
the information regarding rents after inflation.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Moving
forward, the prospects of making easy money on buy to let in Canterbury have
diminished, when compared to 2005. Last decade, making money from buy to let
was as easy as falling off a log – but not anymore.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">It would
be true to say, my rental income versus property prices study does lead to noteworthy
thoughts. I am often asked to look at my landlord’s rental portfolios, to
ascertain the spread of their investment across their multiple properties. It’s
all about judging whether what you have will meet your needs of the investment
in the future. It’s the balance of capital growth and yield whilst diversifying
this risk.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">If you
are investing in the Canterbury property market, do your homework and do it
well. While some yields may look attractive, there are properties in many areas
that do not have the solid rudiments in place to sustain them. If you are
looking for capital growth, you might be surprised where the hidden gems really
are. Take advice, even ask your agent for a portfolio analysis like I offer my
landlords. The clear majority of agents in Canterbury will be able to give a
detailed analysis of past and anticipated investment opportunity (especially
the awful effect of inflation) on your portfolio. However, if they can’t help –
well, you know where I am, the kettle is on!</span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com1tag:blogger.com,1999:blog-4138664571070832463.post-44236774079866685802017-06-29T16:09:00.001+01:002017-06-29T16:16:13.292+01:00<br />
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<span style="font-size: medium;"><u><span style="font-size: x-large;"><o:p><span style="font-family: "calibri";"> </span></o:p><span style="font-family: "calibri";">Canterbury’s housing affordability hits a ratio of 11.12 to
1</span></span></u></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxRabntVYUI8nq_hP6D1nJcEdYHLE-KgsDcprZkQnKUJNUuMqgL1xYwnanPzz4UVLgsYNx-Z1wyjNGBev52fO5CSpLoKNdvVn2npczHmmjzCT9A3owIPfGnSz98de_653DGwbL5lqn-Hs/s1600/1612.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="198" data-original-width="224" height="353" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxRabntVYUI8nq_hP6D1nJcEdYHLE-KgsDcprZkQnKUJNUuMqgL1xYwnanPzz4UVLgsYNx-Z1wyjNGBev52fO5CSpLoKNdvVn2npczHmmjzCT9A3owIPfGnSz98de_653DGwbL5lqn-Hs/s400/1612.jpg" width="400" /></a></div>
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<span style="font-size: large;"><u><span style="font-family: "calibri";"><o:p></o:p></span></u></span> </div>
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<span style="font-family: "calibri";">A Canterbury homeowner emailed me last week, following my
article posted in the Canterbury Property Blog about the change in attitude to
renting by the youngsters of Canterbury and how they thought it was too
expensive for first time buyers to buy in Canterbury.<span style="mso-spacerun: yes;"> </span>There can be no doubt that buy to let
landlords have played their part in driving up property values in Canterbury
(and the UK) and from that made housing a lot less affordable for the 20 and 30
somethings of Canterbury. <o:p></o:p></span></div>
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<span style="font-family: "calibri";">In the email, they said they thought the plight of the
first-time buyers in Canterbury was like a novice tennis player, playing tennis
with Andy Murray. If you played him once you will unquestionably lose and if
you were to play him 100 times you would lose 100 times. That is what they
thought it was like for all the 20 something’s first time buyers of Canterbury
going against all the buy to let landlords.<o:p></o:p></span></div>
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<span style="font-family: "calibri";">They went on to ask if the Bank of England (BoE) should be
tasked to control house price inflation in the same way as the BoE controls
inflation. <span style="mso-spacerun: yes;"> </span>The BoE has a target for the
annual inflation rate of the Consumer Prices Index of 2%, whilst it is also
required to support the Government’s economic policy, including its objectives
for growth and employment. <span style="mso-spacerun: yes;"> </span>So, should
BoE be charged with containing buy to let housing market, by possibly changing
the rules on the loan-to-value (LTV) ratio’s?<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "calibri";">So, let’s look at how affordable Canterbury is.<span style="mso-spacerun: yes;"> </span>The best measure of the affordability of
housing is the ratio of Canterbury Property Prices to Canterbury Average Wages,
(the higher the ratio, the less affordable properties are).<span style="mso-spacerun: yes;"> </span>(i.e. looking at the table below, for
example in 2014, the average value of a Canterbury property was 9.02 times
higher than the average annual wage in Canterbury).<o:p></o:p></span></div>
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<span style="font-family: "calibri";">1998 <o:p></o:p></span></div>
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<span style="font-family: "calibri";">2000<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2002<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2004<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2006<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2008<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2010<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2012<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2014<o:p></o:p></span></div>
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<span style="font-family: "calibri";">2016 (EST)<o:p></o:p></span></div>
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<span style="font-family: "calibri";">4.42<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
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<span style="font-family: "calibri";">5.29<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
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<span style="font-family: "calibri";">6.84<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
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<span style="font-family: "calibri";">8.02<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
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<span style="font-family: "calibri";">8.78<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
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<span style="font-family: "calibri";">8.98<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td nowrap="" style="background-color: transparent; border-color: rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 35.35pt; padding: 0cm 5.4pt; width: 42.8pt;" width="57"><div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "calibri";">8.14<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td nowrap="" style="background-color: transparent; border-color: rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 35.35pt; padding: 0cm 5.4pt; width: 42.8pt;" width="57"><div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "calibri";">8.43<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td nowrap="" style="background-color: transparent; border-color: rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 35.35pt; padding: 0cm 5.4pt; width: 42.8pt;" width="57"><div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "calibri";">9.02<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td nowrap="" style="background-color: transparent; border-color: rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 35.35pt; padding: 0cm 5.4pt; width: 42.8pt;" width="57"><div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "calibri";">11.12<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
</tr>
</tbody></table>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "calibri";"></span><br />
<span style="font-family: "calibri";">This deterioration in affordability of property in Canterbury
over the last couple of years has been one of the reasons why the younger
generation is deciding more and more to rent instead of buy their own
house.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "calibri";">... but it’s not the only reason.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="font-family: "calibri";">A quick look on Money Supermarket today found 169 lenders
prepared to offer 75% LTV Buy to let Mortgages and none at 85% LTV. <span style="mso-spacerun: yes;"> </span>Lenders have self-imposed a high level of
entry for buy to let landlords (i.e. putting down at least 25% of the purchase
price in cash). <span style="mso-spacerun: yes;"> </span>The BoE don’t need to
meddle there! <span style="mso-spacerun: yes;"> </span>Also, the Tories have
certainly done lots to level the playing field in favour of first time buyers. <span style="mso-spacerun: yes;"> </span>For nearly a year now, Landlords have had to
pay an additional 3% in stamp duty on any buy to let purchase and over the
coming four years, tax rules on landlord’s claiming mortgage interest relief
will affect their pocket. <span style="mso-spacerun: yes;"> </span>Neither, it
doesn’t help that the local Authority sold off council houses in the Thatcher
years and so for many on low incomes or with little capital, owning a home has
simply never been an option (today or in the past). <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "calibri";">It’s easy to look at the headlines and blame landlords. <span style="mso-spacerun: yes;"> </span>First time buyers have been able to access 95%
LTV mortgages since 2010, meaning even today, a first-time buyer could purchase
a 2 bed terraced in Canterbury for around £200,000 and only need to find £10,000
deposit. <span style="mso-spacerun: yes;"> </span>Yes, a lot of money, but first
time buyers need to decide what is important to them. <span style="mso-spacerun: yes;"> </span>Either save up for a couple of years to save
the deposit and go without two annual foreign holidays, the full Satellite or
Cable TV package with Sports and Movies costing three figures a month, the
latest mobile phone and out socialising ... or not as the case maybe?<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "calibri";">I think we as a Country have changed ... <strong><em>renting is returning
to be the norm</em></strong>. <span style="mso-spacerun: yes;"> </span>So my opinion is,
landlords have it tough. <span style="mso-spacerun: yes;"> </span>Let’s not blame
them for the ‘perceived’ woes of the nation ... because to be frank … we
haven’t always been a country of homeowners. <span style="mso-spacerun: yes;"> </span>Roll the clock back to 1964, and nationally,
30% of people rented their home from a private landlord – today – its only
15.3% nationally.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "calibri";"></span><br />
<span style="font-family: "calibri";">If you are an existing landlord or someone thinking of
become a first-time landlord looking for advice and opinion and what (or what not
to buy in Canterbury) then please do get in touch.<span style="mso-spacerun: yes;"> </span></span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-46441551358073511592017-06-07T09:55:00.000+01:002017-06-07T10:31:32.815+01:00<br /><br />
<h2 style="margin: 0cm 0cm 0pt; text-align: center;">
<u>What will the General Election do to 9,236 Canterbury Homeowners?</u></h2>
<br />
<br /><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLblNX6WWX601TH1FxsEVpY-Dj1VWf1LbOGUe8LCUSQbqOYxu4Am2xSxE7B5jzC6tiLCK963kb3L2MAWEnm04Ew0a0I1x9aAI7BLWo_MsdkhyABUoJ_11bIciIU6h6AuvpzuTbB46XkEE/s1600/168+pic.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="893" data-original-width="1600" height="223" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLblNX6WWX601TH1FxsEVpY-Dj1VWf1LbOGUe8LCUSQbqOYxu4Am2xSxE7B5jzC6tiLCK963kb3L2MAWEnm04Ew0a0I1x9aAI7BLWo_MsdkhyABUoJ_11bIciIU6h6AuvpzuTbB46XkEE/s400/168+pic.jpg" width="400" /></a></div>
<div style="margin: 0cm 0cm 0pt;">
<br /></div>
<div style="margin: 0cm 0cm 0pt;">
In Canterbury, of the 19,850 households, 5,148 homes are
owned without a mortgage and 4,088 homes are owned by a mortgage. Many
homeowners have made contact me with asking what the General Election will do
the Canterbury property market? The best
way to tell the future is to look at the past.</div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
I have looked over the last five general elections and analysed
in detail what happened to the property market on the lead up to and after each
general election. Some very interesting information has come to light. </div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
Of the last five general elections (1997, 2001, 2005, 2010
and 2015), the two elections that weren’t certain were the last two (2010 with
the collation and 2015 with unexpected Tory majority). Therefore, I wanted to
compare what happened in 1997, 2001 and 2005 when Tony Blair was guaranteed to
be elected/re-elected versus the last knife edge uncertain votes of 2010 and 2015
... in terms of the number of houses sold and the prices achieved. </div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
Look at the first graph below comparing the number of properties
sold and the dates of the general elections:</div>
<div style="margin: 0cm 0cm 0pt;">
</div>
<br /><br />
<div class="separator" style="clear: both; margin: 0cm 0cm 0pt; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgS50DzsXHOBXUVoppuXpWPBCQnvGZ5mq2M8z__qs0-flNGlBsBY3PgLjcKdZPfa4g9TMGGdTrgwtjUwuAs4z1GVkGc7CE0jvryuAHdVRbRHADpDPFT0Ns389Js0DBhr7FThsgPr2zwG7o/s1600/168+Graph+One.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="994" data-original-width="1342" height="295" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgS50DzsXHOBXUVoppuXpWPBCQnvGZ5mq2M8z__qs0-flNGlBsBY3PgLjcKdZPfa4g9TMGGdTrgwtjUwuAs4z1GVkGc7CE0jvryuAHdVRbRHADpDPFT0Ns389Js0DBhr7FThsgPr2zwG7o/s400/168+Graph+One.png" width="400" /></a></div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
</div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
It is clear, looking at the number of monthly transactions (the
blue line), there is a certain rhythm or seasonality to the housing market. That
rhythm/seasonality has never changed since 1995 (seasonality meaning the
periodic fluctuations that occur regularly based on a season - i.e. you can see
how the number of properties sold dips around Christmas, rises in Spring and
Summer and drops again at the end of the year). </div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
To remove that seasonality, I have introduced the red line.
The red line is a 12 month ‘moving average’ trend line which enables us to look
at the ‘de-seasonalised’ housing transaction numbers, whilst the yellow arrows
denote the times of the general elections. It is clear to see that after the
1997, 2001 and 2005 elections, there was significant uplift in number of
households sold, whilst in 2010 and 2015, there was slight drop in house
transactions (i.e. number of properties sold). </div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
Next, I wanted to consider what happened to property prices.
In the graph below, I have used that same 12-month average, housing
transactions numbers (in red) and yellow arrows for the dates of the general elections
but this time compared that to what happened to property values (pink line).</div>
<br /><br />
<div style="margin: 0cm 0cm 0pt;">
</div>
<div class="separator" style="clear: both; margin: 0cm 0cm 0pt; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmEyMhPDQ_8XFN6DSyQw387GvV-Un_m37MADRZF6g4f2lJxQHZHruXWHsxifoZe8mTzC0YEKtbivox8kqkzcF36gxQyw0_e5la-gg0FT1gVAFL7GvCIDVcDURq8DsZ2pQts13EHPUnNGU/s1600/168+Graph+Two.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="994" data-original-width="1330" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmEyMhPDQ_8XFN6DSyQw387GvV-Un_m37MADRZF6g4f2lJxQHZHruXWHsxifoZe8mTzC0YEKtbivox8kqkzcF36gxQyw0_e5la-gg0FT1gVAFL7GvCIDVcDURq8DsZ2pQts13EHPUnNGU/s400/168+Graph+Two.png" width="400" /></a></div>
<div style="margin: 0cm 0cm 0pt;">
<br /></div>
<div style="margin: 0cm 0cm 0pt;">
<br /></div>
<div style="margin: 0cm 0cm 0pt;">
It is quite clear none of the general elections had any
effect on the property values. Also, the
timescales between the calling of the election and the date itself also means
that any property buyer’s indecisiveness and indecision before the election
will have less of an impact on the market. </div>
<div style="margin: 0cm 0cm 0pt;">
<br /></div>
<div style="margin: 0cm 0cm 0pt;">
So finally, what does this mean for the landlords of the 5,955
private rented properties in Canterbury? Well, as I have discussed in previous articles
(and just as relevant for homeowners as well) property value growth in Canterbury
will be more subdued in the coming few years for reasons other than the general
election. The growth of rents has taken a slight hit in the last few months as
there has been a slight over supply of rental property in Canterbury, making it
imperative that Canterbury landlords are realistic with their market rents. But,
in the long term, as the younger generation still choose to rent rather than
buy ... the prospects, even with the changes in taxation, mean investing in
buy-to-let still looks a good bet. </div>
<div style="margin: 0cm 0cm 0pt;">
<br /></div>
<h2 style="margin: 0cm 0cm 0pt;">
<br /></h2>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com1tag:blogger.com,1999:blog-4138664571070832463.post-24151576967923714342017-05-04T10:15:00.001+01:002017-05-04T10:17:01.757+01:00Canterbury Rents To Rise Quicker Than Canterbury Property Prices In Next 5 Years <div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwozQr44LJwgBjctng6L2iZaPGaNt4JPsXVkNnII_3WfCLx-r0AkKTIeKTz_eS1T8cMPbIYV-3o45zjMAhptrhSrxZjKe8tZ9BhWrqHx_g6mDWeqbXSzhqOrIxrFQY2HLTsMN8_bVf5qM/s1600/160+pic.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Trebuchet MS, sans-serif;"><img border="0" height="198" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwozQr44LJwgBjctng6L2iZaPGaNt4JPsXVkNnII_3WfCLx-r0AkKTIeKTz_eS1T8cMPbIYV-3o45zjMAhptrhSrxZjKe8tZ9BhWrqHx_g6mDWeqbXSzhqOrIxrFQY2HLTsMN8_bVf5qM/s400/160+pic.png" width="400" /></span></a></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">The
next five years will see an interesting change in
the Canterbury property market. My
recent research has concluded that
the rent private tenants pay in Canterbury will rise
faster than Canterbury property prices over the next five years, creating further issues to Canterbury's growing multitude of
renters. In fact, my examination of statistics forecasts that
...<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;"><b>By
2022, Canterbury rents will increase by 23%, whereas Canterbury property
values will only grow by 16%.</b><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">Let
me explain why I have come to those conclusions:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">Over
the last five years, property values in Canterbury have risen
by 43% whilst rents have only risen by 9.4%.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">Throughout the
last few years, and compounded in 2016, tenant demand for
rental properties continued to go up whilst the Press predicted some
landlords expect to reduce their portfolios in the next couple
of years, meaning Canterbury tenants will have fewer properties
to choose from, which will push rents higher. In fact, talking
to fellow property professionals in Canterbury, there appears to be a
shortage of new rental properties coming on to
the Canterbury lettings market.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">Landlords
have some intriguing challenges ahead of them in the coming years most
notably in that the Tory’s have changed the taxation rules for
landlords in the way buy to let properties are to
be taxed. On top of that, there is the ban on letting agent
fees which is still to come into force (probably in 2018).
When that happened in Scotland in 2012, Scottish letting agents
passed on those fees to their landlords, who in turn
increased the rent they charged to their tenants.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">All
I would say to Theresa May and Philip Hammond is that they must
be wary about indicating both red and green
lights at the same time to the private rented sector. They can’t
expect the armies of small private landlords to continue to house around a
fifth of the population and then tax the hell out of them. They didn’t invest
in buy to let as a charity or to satisfy any philanthropic urges. Something has
to give – and that will be significant rent rises over the coming few
years (and before anyone gives me any derogatory comments about
landlords … if it wasn’t for landlords buying all these buy to
let properties over the last 15 years, I am not sure where everyone would
be living today – because most the Council houses were sold off in
the 1980’s!).<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">With
the challenges ahead, with the ‘B’ word (that’s budget if
you wondered!), house price inflation will be tempered over the coming five
years in Canterbury. As I have discussed in previous articles,
the number of properties on the
market in Canterbury remains close to historic lows, which
is both good as it keeps houses prices relatively stable, yet not so good as it
impedes choice for buyers… and hence why I believe property values
in Canterbury will only be 16% higher in five years’ time.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;">Whilst on
the other side of the coin, with the challenges facing
landlords and the significant shortage of new homes being
built, Canterbury people still need somewhere to live. If those
people aren’t buying houses and the local authority aren’t building council
houses in there thousands (because they have no money), with
the average rent for a Canterbury rental property
currently standing at £1,318 per month …<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif; font-size: 11.0pt;"><b>Over
the next five years, I predict the average rent in Canterbury will
rise to £1,621 per month<o:p></o:p></b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 11.0pt;"><span style="font-family: Trebuchet MS, sans-serif;">These
are interesting times. There is still money to be made in buy to let
in Canterbury – Canterbury landlords
will just need to be smarter and more savvy with their
investments. If you are looking for such advice and opinion to help you meet
those investment goals, please get in touch. </span><span style="font-family: "trebuchet ms", sans-serif; font-size: 11pt;"><o:p></o:p></span></span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-57439760741941596432017-04-27T10:47:00.000+01:002017-04-27T11:55:46.342+01:00Only 290 Properties For Sale in Canterbury<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYRATucP9EW7fUQ7wXD6Cx07w46oEsqHFMEwpD3Q5jfSoZOsXXzEamyFqKkmTsX54bVbttdCaCdpXO_-_1UnsZ0n6FmcXiWGaWCh8L9NfMFwMmP5O97FJ2qFFm9tKXyK2Z75pNtCYtwoo/s1600/159+pic.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="335" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYRATucP9EW7fUQ7wXD6Cx07w46oEsqHFMEwpD3Q5jfSoZOsXXzEamyFqKkmTsX54bVbttdCaCdpXO_-_1UnsZ0n6FmcXiWGaWCh8L9NfMFwMmP5O97FJ2qFFm9tKXyK2Z75pNtCYtwoo/s400/159+pic.png" width="400" /></a></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;"><br /></span></div>
<div class="MsoNormal">
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;"><br /></span></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">2017
has started with some positive interest in the Canterbury property market. Taking a snap shot of the Canterbury property
market for the first quarter of 2017, the picture suggests some interesting
trends when it comes to the number of properties available to buy, their asking
prices and what prices properties are actually selling for.<o:p></o:p></span></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;"><span style="font-size: medium;">Let
us first consider the number of properties for sale, compared to 12 months ago:</span><span style="font-size: 11pt;"><o:p></o:p></span></span></div>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="text-align: center;">
<table border="1" cellpadding="0" cellspacing="0" class="GridTable1Light1" style="border-collapse: collapse; border: none; text-align: center;">
<tbody>
<tr>
<td style="border-right: solid #999999 1.0pt; border: solid windowtext 1.5pt; mso-border-alt: solid windowtext 1.5pt; mso-border-right-alt: solid #999999 .5pt; mso-border-right-themecolor: text1; mso-border-right-themecolor: text1; mso-border-right-themetint: 102; mso-border-right-themetint: 102; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="MsoNormal" style="mso-yfti-cnfc: 5; text-align: center;">
<b>Type of Canterbury Property<o:p></o:p></b></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid #999999 1.0pt; border-top: solid windowtext 1.5pt; mso-border-bottom-alt: windowtext 1.5pt; mso-border-left-alt: #999999 .5pt; mso-border-left-alt: solid #999999 .5pt; mso-border-left-themecolor: text1; mso-border-left-themecolor: text1; mso-border-left-themetint: 102; mso-border-left-themetint: 102; mso-border-right-alt: #999999 .5pt; mso-border-right-themecolor: text1; mso-border-right-themecolor: text1; mso-border-right-themetint: 102; mso-border-right-themetint: 102; mso-border-style-alt: solid; mso-border-top-alt: windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="MsoNormal" style="mso-yfti-cnfc: 1; text-align: center;">
<b>Number of Properties on the Market 12
months ago<o:p></o:p></b></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid #999999 1.0pt; border-top: solid windowtext 1.5pt; mso-border-bottom-alt: windowtext 1.5pt; mso-border-left-alt: #999999 .5pt; mso-border-left-alt: solid #999999 .5pt; mso-border-left-themecolor: text1; mso-border-left-themecolor: text1; mso-border-left-themetint: 102; mso-border-left-themetint: 102; mso-border-right-alt: #999999 .5pt; mso-border-right-themecolor: text1; mso-border-right-themecolor: text1; mso-border-right-themetint: 102; mso-border-right-themetint: 102; mso-border-style-alt: solid; mso-border-top-alt: windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="MsoNormal" style="mso-yfti-cnfc: 1; text-align: center;">
<b>Number of Properties on the Market now<o:p></o:p></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.5pt; mso-border-left-alt: solid #999999 .5pt; mso-border-left-themecolor: text1; mso-border-left-themetint: 102; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="MsoNormal" style="mso-yfti-cnfc: 1; text-align: center;">
<b>% change<o:p></o:p></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p1" style="mso-yfti-cnfc: 4; text-align: center;">
<span style="font-size: 12.0pt; mso-bidi-font-weight: bold;"><b>Detached<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>36<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>52<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>+44%<o:p></o:p></b></span></div>
</td>
</tr>
<tr style="height: 13.45pt; mso-yfti-irow: 1;">
<td style="background: #D9D9D9; border-top: none; border: solid windowtext 1.5pt; height: 13.45pt; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p2" style="mso-yfti-cnfc: 4; text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; height: 13.45pt; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p2" style="text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; height: 13.45pt; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p2" style="text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; height: 13.45pt; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p2" style="text-align: center;">
<br /></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p1" style="mso-yfti-cnfc: 4; text-align: center;">
<span style="font-size: 12.0pt; mso-bidi-font-weight: bold;"><b>Semi<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p1" style="text-align: center;">
<b style="font-size: 12pt;">57</b></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>67<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>+18%<o:p></o:p></b></span></div>
</td>
</tr>
<tr>
<td style="background: #D9D9D9; border-top: none; border: solid windowtext 1.5pt; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p2" style="mso-yfti-cnfc: 4; text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p2" style="text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p2" style="text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p2" style="text-align: center;">
<br /></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p1" style="mso-yfti-cnfc: 4; text-align: center;">
<span style="font-size: 12.0pt; mso-bidi-font-weight: bold;"><b>Terraced<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>42<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>55<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>+31%<o:p></o:p></b></span></div>
</td>
</tr>
<tr>
<td style="background: #D9D9D9; border-top: none; border: solid windowtext 1.5pt; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p2" style="mso-yfti-cnfc: 4; text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p2" style="text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p2" style="text-align: center;">
<br /></div>
</td>
<td style="background: #D9D9D9; border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; mso-background-themecolor: background1; mso-background-themeshade: 217; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p2" style="text-align: center;">
<br /></div>
</td>
</tr>
<tr style="height: 14.25pt; mso-yfti-irow: 6; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.5pt; height: 14.25pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 120.75pt;" valign="top" width="161"><div class="p1" style="mso-yfti-cnfc: 4; text-align: center;">
<span style="font-size: 12.0pt; mso-bidi-font-weight: bold;"><b>Flat<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; height: 14.25pt; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 130.5pt;" valign="top" width="174"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>114<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; height: 14.25pt; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.5pt;" valign="top" width="150"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>91<span class="apple-tab-span"><o:p></o:p></span></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.5pt; border-left: none; border-right: solid windowtext 1.5pt; border-top: none; height: 14.25pt; mso-border-left-alt: solid windowtext 1.5pt; mso-border-top-alt: solid windowtext 1.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 85.75pt;" valign="top" width="114"><div class="p1" style="text-align: center;">
<span style="font-size: 12.0pt;"><b>-20%</b><o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<br />
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11pt; text-align: justify;"></span><br />
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11pt; text-align: justify;"><span style="font-size: 11pt;">So
when we add in building plots and other types of properties that don’t fit into
the four main categories, that means there are 290 properties for sale today
compared with 288 a year ago, a rise of 1%.</span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11pt; text-align: justify;">
</span></div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<br /></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: center;">
<b><span style="font-family: "trebuchet ms" , sans-serif;">Next,
Canterbury asking prices, compared </span><span style="font-family: "trebuchet ms" , sans-serif;">to
last Spring, are 6% higher.</span></b></div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<br /></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">With
that in mind, I wanted to look at what property was actually selling for in Canterbury.
Taking my information from the Land Registry, the last available six months
property transactions for CT1 show an interesting picture (note the Land Registry
data is always a few months behind due to the nature of the house buying
process and so November 2016 is latest set of data). The price shown is the
average price paid and the number in brackets is the number of properties
actually sold.<o:p></o:p></span></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; text-align: center;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<br /></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Jun-16<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Jul-16<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Aug-16<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Sep-16<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Oct-16<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.4pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Nov-16<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Detached<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£0
(0)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£424,500
(7)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£531,125
(2)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£484,333
(9)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£563,333
(6)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.4pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£539,965
(5)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Semi<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Detached<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£271,600
(10)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£268,333
(3)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£285,857
(7)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£308,880
(10)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£290,688
(8)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.4pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£331,600
(5)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Terraced<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£317,409
(11)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£270,722
(9)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£286,312
(16)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£278,508
(12)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£281,321
(14)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.4pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£292,063
(12)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Flat<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£176,790
(5)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£210,880
(20)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£196,531
(16)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£193,625
(12)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£210,077
(13)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.4pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£220,875
(12)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">All<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£272,748
(26)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£267,451
(39)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£263,139
(41)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£304,962
(43)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.35pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£301,829
(41)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 64.4pt;" valign="top" width="86"><div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">£309,208
(34)<span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="text-align: center;">
<br /></div>
<div class="MsoNormal" style="text-align: center;">
<br /></div>
<div class="MsoNormal" style="text-align: center;">
<br /></div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">So
what does all this mean for the property owning folk of Canterbury?<o:p></o:p></span></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<br /></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Well,
with a similar number of properties on the market as a year ago and asking
prices 6% higher, those trying to sell their property need to be mindful that
buyers, be they first time buyers, buy to let landlords or people moving up the
Canterbury property ladder, have much more price information about the Canterbury
property market at their fingertips than ever before.<o:p></o:p></span></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<br /></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">Those
Canterbury people who are looking to sell their property in 2017, need to be aware
of the risks of over pricing their property when initially placing it on the
market. Over the last 12 months, I have noticed the approach of a few Canterbury
estate agents is to suggest an inflated asking price to encourage the homeowner
and secure the property to sell on their books. The down side to this is that
when offered to the market for the first time, buyers will realise it is
overpriced and wont waste their time asking for a brochure. They won’t even
view the property, let alone make an offer. So when the price is reduced a few
months later, the property has become market stale and continues to be ignored.<o:p></o:p></span></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<br /></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Whilst
the Canterbury property-market has an unassailable demand for property – there
is one saying that always rings true -<i> as long as the property is being
marketed at the right price it will sell.</i><span style="font-size: 11pt;"><o:p></o:p></span></span></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<br /></div>
</div>
</div>
<div class="MsoNormal" style="text-align: center;">
<div style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 11.0pt;">If
you want to know if your Canterbury property is being marketed at the right
price, send me a web link and I will give you my honest opinion.<o:p></o:p></span></div>
</div>
</div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-77195375136530169922017-04-19T11:13:00.003+01:002017-04-19T11:47:28.557+01:00<div class="MsoNormal">
<div class="MsoNormal">
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyyRKrw-D4miDzliCgtS7KEnYWWmp2oCwghuApYfCicOvuoEuYIc-rS2eKvTL5gpEdp0V1WwwMFcpcFJxVGzAEjaF33EBK9wGcUueAULgT095rGxq61EXCd1Dn4HgZn4xeJ1Vrl1f7nEg/s1600/19.04.17+property.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyyRKrw-D4miDzliCgtS7KEnYWWmp2oCwghuApYfCicOvuoEuYIc-rS2eKvTL5gpEdp0V1WwwMFcpcFJxVGzAEjaF33EBK9wGcUueAULgT095rGxq61EXCd1Dn4HgZn4xeJ1Vrl1f7nEg/s400/19.04.17+property.JPG" width="400" /></a></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Afternoon,
<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">I hope
you all had a lovely Easter weekend, only 11 days until the next bank holiday
weekend! <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">Today’s
property caught my eye as I have often driven past the property on the way to
work and have been intrigued by the unusual shape of the building. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The
property is located on Hollow Lane which is easy walking distance to Canterbury
City Centre and also benefits from free on street parking. The property is
currently rented as a student property with a potential yield of 6.08%. This is
worked out on a monthly income of £1520.00pcm. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">From
looking at the photos I would agree with the description that this is a high
quality student let needing little to no work prior to renting it out.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">If you
are interested in this property one thing to double check with the Estate agent
Charles Bainbridge is if there is secure tenants until June 2018. <o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://www.rightmove.co.uk/property-for-sale/property-59052421.html">http://www.rightmove.co.uk/property-for-sale/property-59052421.html</a></span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-14479389432744232522017-04-19T10:59:00.001+01:002017-04-19T11:04:05.368+01:00‘Flipping’ Heck - Canterbury Property Values Rise by £49.89 a day <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5AoCs1Qr0qxUzt7IojzHhkNStgW9gFE3JEgL9jX3k1qAg_kTIZM1f8AI2hG6epNbtZInD_iyU2Qk4Shusw41HxUZOMY6dCNnP1XNsnKxD1QKzUzkf-4xKgb_orvyGzUVEGKVPqp2g6QU/s1600/158+pic.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="198" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5AoCs1Qr0qxUzt7IojzHhkNStgW9gFE3JEgL9jX3k1qAg_kTIZM1f8AI2hG6epNbtZInD_iyU2Qk4Shusw41HxUZOMY6dCNnP1XNsnKxD1QKzUzkf-4xKgb_orvyGzUVEGKVPqp2g6QU/s400/158+pic.png" width="400" /></a></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Investing
in Canterbury buy to let property is different from investing in the stock
market or depositing your hard-earned cash in the Building Society. When you
invest your money in the Building Society, this is considered by many as the safe
option but the returns you can achieve are awfully low (the best 2-year bond
rate from Nationwide is a whopping 0.75% a year!). Another investment is the Stock
Market, which can give good returns, but unless you are on the phone every day
to your Stockbroker, most people invest in stock market funds, making the
investment quite hands off and one always has the feeling of not being in control.
<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">However,
with buy to let, things can be more hands on. One of the things many landlords
like is the tactile nature of property - the fact that you can touch the bricks
and mortar. It is this factor that attracts many of Canterbury’s landlords –
they are making their own decisions rather than entrusting them to city whizz kids
in Canary Wharf playing roulette with their savings.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">I always
say investing in property is a long-term game. When you invest in the property
market, you can earn from your investment in two ways. When a property
increases in value over time, this is known as ‘capital growth' which we know
has been strong in recent times in Canterbury. The second way you can benefit
is the rental income which will also grow over time. If you divide the annual
rent into the value (or purchase price) of the property, this is your yield, or
annual return. So, over the last 5 years, an average Canterbury property has
risen by £91,050 (equivalent to £49.89 a day), taking it to a current average
value of £339,800. By adding this to the rental income that could be earned can
easily see returns of 10% per annum which I think you will agree is
substantially above the aforementioned 0.75%.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">However,
something I haven’t spoken of before is the more specialist area of flipping
property to make money. (flipping - buying a property, carrying out some minor
cosmetics and re selling it quickly). I
have seen several investors recently who have made decent returns from this
strategy. For example …<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">One Canterbury
Investor paid £190,000 for a 3 bed terrace on Chestnut Drive in February 2015.
It appears some cosmetic work was done to the property and it was resold a few
months ago (November 2016) for £275,000 … 44.74% return before costs </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60251159&sale=4483570&country=england">http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60251159&sale=4483570&country=england</a><o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">This demonstrates
how the Canterbury property market has not only provided very strong returns for
the average investor over the last five years but how it has permitted a group
of motivated buy to let Canterbury landlords and investors to become particularly
wealthy. <o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">As my
article mentioned a few weeks ago, more and more Canterbury people may be
giving up on owning their own home and are instead accepting long term renting
whilst buy to let lending continues to grow from strength to strength. If you
want to know what (and what would not) make a decent buy to let property in Canterbury,
then please get in touch. <o:p></o:p></span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-71395720122530548532017-04-12T15:09:00.001+01:002017-04-12T15:10:59.028+01:001 Bedroom Flat 5.47% yield<div class="MsoNormal">
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<span style="font-family: "trebuchet ms" , sans-serif;">Morning, w</span><span style="font-family: "trebuchet ms" , sans-serif;">here
has the sun gone? Hopefully it is hiding away ready for that sunny Easter
weekend…</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">This
week’s property is a smaller but perfectly located 1 bedroom apartment! The
property is on the market with Miles and Barr and has been on the market since
December 2016.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The
property is located just off Gordon Road behind Canterbury East Station so is
the perfect location for those needing access to London. 1 Bedroom properties
are in high demand in Canterbury and are very popular with young working
professionals. The property also comes with that rarely seen allocated parking
space! <o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Although
the property is on the market with a guide price of £160,000 - £180,000 this
property can still achieve a yield of 5.47% if bought at £170,000. This is worked
out on a projected rental income of £775.00 pcm.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The
property generally looks in good condition so should be good to rent out
straight away!<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Go on,
take a look! <o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://www.rightmove.co.uk/property-for-sale/property-63720845.html">http://www.rightmove.co.uk/property-for-sale/property-63720845.html</a><o:p></o:p></span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-73356401051017966942017-04-12T14:49:00.001+01:002017-04-12T15:01:07.625+01:00How The Rented Sector Has Transformed The Property Market In Canterbury<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgev-9iWV0wIQykt6Pm8PoonewgsH0RR7PUN3KfHaSIXx2li1uzSruhnInyM8_ni2W9HXkHiLkYb9sAV_HbNzOBzHcDFY8K4aWOFvskWQF2pTKOF7L1G31on4WdKcrYQ7zmYxtPhPjZhO8/s1600/157+pic.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="198" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgev-9iWV0wIQykt6Pm8PoonewgsH0RR7PUN3KfHaSIXx2li1uzSruhnInyM8_ni2W9HXkHiLkYb9sAV_HbNzOBzHcDFY8K4aWOFvskWQF2pTKOF7L1G31on4WdKcrYQ7zmYxtPhPjZhO8/s400/157+pic.png" width="400" /></a></div>
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<span style="font-family: "trebuchet ms", sans-serif; font-size: 12pt; text-align: justify;">The Canterbury housing market has gone through a sea change
in the past decades with the Buy-to-Let (B-T-L) sector evolving as a key trend,
for both Canterbury tenants and Canterbury landlords.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">A few weeks ago, the Government released a White Paper on housing.
I have had a chance now to digest the report and wish to offer my thoughts on
the topic. It was interesting that the private rental sector played a major
part in the future plans for housing. This is especially important for our
growing Canterbury population.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 16.0pt;">In 1981, the population of Canterbury
stood at 122,200<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 16.0pt;">and today it stands at 160,000.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">Currently, the private rented (B-T-L) sector accounts for 30%
of households in the city. The
Government want to assist people living in the houses and help the economy by
encouraging the provision of quality homes, in a housing sector that has grown
due to worldwide economic forces, pushing home ownership out of the reach of
more and more people. Interestingly, when we look at the 1981 figures for
homeownership, a different story is told.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">68.18% Canterbury people owned their own home in 1981<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">19.62% Canterbury people rented from the Council or Housing
Association in 1981 </span><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt;">and 12.19% Canterbury
rented from a Private Landlord </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">The significance of a suitable housing policy is vital to
ensure suitable economic activity and create a vibrant place people want to
live in. With the population of Canterbury set to grow to 187,000 by 2037 – it
is imperative that Canterbury City Council and Central Government all work
actively together to ensure the residential property market doesn’t hold the
area back, by encouraging the building and provision of quality homes for its
inhabitants.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">One idea the Government has proclaimed is a variety of
measures aimed at encouraging the Build-to-Rent (B-T-R) sector (instead of the
B-T-L sector). These include allowing local authorities to proactively plan for
B-T-R schemes, and making it simpler for B-T-R developers to offer inexpensive
private rented homes.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; mso-bidi-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">To do this,
the government will invent a distinct affordable housing class for B-T-R,
called ‘Affordable Private Rent’, which will oblige new homes builders to provide
at least 1 in 5 of a new home developments at a 20% discount on open-market rents
and three year tenancies for tenants. In return, the new homebuilders will get better
planning assurances. <o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">Private landlords will not be expected to offer discounts,
nor offer 3-year tenancies – but it is something Canterbury landlords need to
be aware of as there will be greater competition for tenants.<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">Over the last ten years, home ownership has not been a primary
goal for young adults as the world has changed. These youngsters expect ‘on
demand’ services from click and collect, Amazon, Dating Apps and TV with the
likes of Netflix. </span><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">Many Canterbury youngsters see that renting more than
meets their accommodation needs, as it combines the freedom from a lifetime of
property maintenance and financial obligations, making it an attractive
lifestyle option.</span><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;"><o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt;">Private rented housing in Canterbury, be it B-T-L or B-T-R, has
the prospective to play a very positive role. <o:p></o:p></span><br />
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com1tag:blogger.com,1999:blog-4138664571070832463.post-69805934624025382222017-04-06T10:27:00.001+01:002017-04-06T10:29:00.990+01:002 Bedroom House, Great BTL!<div class="separator" style="clear: both; text-align: center;">
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<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">Morning all! <o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">Well it looks like spring has finally sprung, I’m
keeping everything crossed it hangs around long enough for us all to enjoy a
sunny Easter weekend!<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">As ever I have been keeping a close eye on the
Canterbury property market and have come across an ideal student let, a 2-bedroom
house currently for sale with Page & Co.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">The property is located on Whitstable Hill which is a
much sought-after location for students attending Kent University. <o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">Currently on the market for an asking price of £230,000
it already has secured tenancy until June 2018 at a monthly rent of £1200.00pcm
generating an impressive yield of 6.26%!!<o:p></o:p></span></div>
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<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">In my experience with the student market, 2 bed
properties never hang around for long, and are usually the first to go in the
student cycle!<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">So, act fast and get a viewing booked for what will
most likely end up being yet another rainy Easter break!<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;">This one is worth a look at:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;"><br /></span></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; line-height: 107%;"><a href="http://www.rightmove.co.uk/property-for-sale/property-47227839.html" target="_blank"><sub><span style="color: blue; mso-bidi-font-family: Calibri;">http://www.rightmove.co.uk/property-for-sale/property-47227839.html</span></sub></a><o:p></o:p></span></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-4663296046693053942017-04-05T15:37:00.006+01:002017-04-05T15:40:58.710+01:00Canterbury’s ‘Generation Trapped’ and the £3.13bn legacy <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo5wzG0XwhcimhiTBVN5vtdDCn3LNlS7U0Tb73Jb_uyS9wIWtJepqeTq9HDE6lsvgnQBMe8gzQrj_QJcTBBTe2wVv5SWm_49EQLkD5uMFLoa0NPDLENwOlO0Fj3qhisjGtWUnelgHXdtw/s1600/Article+156+baby-boomers.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo5wzG0XwhcimhiTBVN5vtdDCn3LNlS7U0Tb73Jb_uyS9wIWtJepqeTq9HDE6lsvgnQBMe8gzQrj_QJcTBBTe2wVv5SWm_49EQLkD5uMFLoa0NPDLENwOlO0Fj3qhisjGtWUnelgHXdtw/s320/Article+156+baby-boomers.jpg" width="320" /></a></div>
<div class="p1" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt;"><br /></span></div>
<div class="p1" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt;"><br /></span></div>
<div class="p1" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt;"><br /></span></div>
<div class="p1" style="text-align: justify;">
<div class="MsoNormal">
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">Last week, I wrote an article on the plight
of the Canterbury 20 something’s often referred to by the press as ‘Generation
Rent’. Attitudes to renting have certainly changed over the last twenty years and
as my analysis suggested, this change is likely to be permanent. In the
article, whilst a minority of this Generation Rent feel trapped, the majority
don’t – making renting a choice not a predicament. The Royal Institution of
Chartered Surveyors (RICS) predicted that the private rental sector is likely
to grow substantially by 1.8m households across the UK in the next 8 years,
with demand for rental property unlikely to slow and newly formed households
continuing to choose the rental market as opposed to buying.<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">However, my real concern for Canterbury
homeowners and Canterbury landlords alike, as I discussed a couple of months
ago, is our mature members of the population of Canterbury. In that previous article,
I stated that the current OAP’s (65+ yrs in age) in Canterbury were sitting on £1.49bn
of residential property ... however, I didn’t talk in depth about the ‘Baby
Boomers’, the 50yr to 64yr old Canterbury people and what their properties are
worth – and more importantly, how the current state of affairs could be holding
back those younger Generation Renters.<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">In Canterbury, there are 2,189 households
whose owners are aged between 50yrs and 64yrs and about to pay their mortgage
off. That property is worth, in today’s prices, £746.8m. There are an
additional 2,617 mortgage free Canterbury households, owned by 50yr to 64yr
olds, worth £892.8m in today’s</span><span style="font-family: "Trebuchet MS", sans-serif;"> prices, meaning...<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="p1" style="text-align: center;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;"><b>Canterbury Baby Boomers and Canterbury OAP’s
are sitting <o:p></o:p></b></span></div>
<div class="p1" style="text-align: center;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;"><b>on £3.13bn worth of Canterbury Property</b><o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">These Canterbury Baby Boomers and OAP’s are
sitting on 9,175 Canterbury properties and many of them feel trapped in their
homes, and hence I have dubbed them ‘Generation Trapped’. <o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">Recently, the English Housing Survey stated 49%
of these properties owned by the Generation Trapped, as I have dubbed them, are
‘under-occupied’ (under-occupied classed as having at least two bedrooms more
than needed). These houses could be better utilised by younger families, but
research carried out by the Prudential suggest in Britain it’s estimated that
only one in ten older people downsize while in the USA for example one in five
do so. <o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">The growing numbers of older homeowners who want
to downsize their home are often put off by the difficulties of moving. The
charity United for all Ages, suggested recently many are put off by the lack of
housing options, 19% by the hassle and cost of moving, 14% by having to
declutter their possessions and 14% by family reasons such as staying close to
children and grandchildren.<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">Helping mature Canterbury (and the Country)
homeowners to downsize at the right time will also enable younger Canterbury people
to find the homes they need – meaning every generation wins, both young and old.
However, to ensure downsizing works, as a Country, we need more choices for these
‘last time buyers’.<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<br />
<div class="p1">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: 12pt;">Theresa May and Philip Hammond can do their
part and consider stamp duty tax breaks for downsizers, our local Council in Canterbury
and the Planning Dept. should play their part, as should landlords and property
investors to ensure Canterbury’s ‘Generation Trapped’ can find suitable
property locally, close to friends, family and facilities. <o:p></o:p></span></div>
</div>
</div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-26477916201947579542017-03-29T15:50:00.000+01:002017-03-29T16:46:52.684+01:00‘Generation Rent (Forever)’ – 6,509 Canterbury Tenants have no intention of ever buying a property to call home<div style="text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUycub82ENcjBGHKZ-IHQnCRoM4WCeQy2RLp3LX1acqgRC8icsorc1tqQQ2AS88vcXoNzeKf1mgpRIHKiNpX_dn_napScuZNWN2ldNYTt4v0l5SX-da7o6CM9FNDp-7Hyhl9c_IRkFvYs/s1600/155+pic+3.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="159" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUycub82ENcjBGHKZ-IHQnCRoM4WCeQy2RLp3LX1acqgRC8icsorc1tqQQ2AS88vcXoNzeKf1mgpRIHKiNpX_dn_napScuZNWN2ldNYTt4v0l5SX-da7o6CM9FNDp-7Hyhl9c_IRkFvYs/s320/155+pic+3.PNG" width="320" /></a></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
<div style="text-align: justify;">
<br /></div>
</div>
<div style="text-align: center;">
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">The
good old days of the 1970’s and 1980’s eh … with such <s>highlights</s> lowlights
as 24% inflation, 17% interest rates, 3 day working week, 13% unemployment, power
cuts ... those were the days (not)… but at least people could afford to buy
their own home. So why aren’t the 20 and 30 something’s buying in the same
numbers as they were 30 or 40 years ago?<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">Many
people blame the credit crunch and global recession of 2008, which had an
enormous impact on the UK housing market. Predominantly, the 20 something
first-time buyers who, confronting a problematic mortgage market, the perceived
need for big deposits, reduced job security and declining disposable income,
discovered it challenging to assemble the monetary means to get on to the
property ladder.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">However,
I would say there has been something else at play other than the issue of
raising a deposit - having sufficient income and rising property prices in Canterbury.
Whilst these are important factors and barriers to homeownership, I also
believe there has been a generational change in attitudes towards home
ownership (and in fact the rest of the Country).<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">Back
in 2011, the Halifax did a survey of thousands of tenants and 19% of tenants
said they had no plans to buy a home for themselves. A recent, almost identical
survey of tenants, carried out by The Deposit Protection Service revealed, in
late 2016, that figure had risen to 38.4%, with many no-longer equating home
ownership to success and believing renting to be better suited to their
lifestyle. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">You
see, I believe renting is a fundamental part of the housing sector, and a meaningful
proportion of the younger adult members of the population choose to be tenants
as it better suits their plans and lifestyle. Local Government in Canterbury
(including the planners – especially the planners), land owners and landlords
need an adaptable residential property sector that allows the diverse choices of
these 20 and 30 year olds to be met.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">This
means, if we applied the same percentages to the current 16,951 Canterbury
tenants in their 5,955 private rental properties, 6,509 tenants have no plans
to ever buy a property – good news for the landlords of those 2,287 properties.
Interestingly, in the same report, just under two thirds (62%) of tenants said
they didn’t expect to buy within the next year.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: medium;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">..
but does that mean the other third will be buying in Canterbury in the next 12
months?<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-size: medium;"><br /></span>
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">Some
will, but most won’t … in fact, the Royal Institution of Chartered Surveyors
(RICS) predicts that, by 2025, that the number of people renting will increase,
not drop. Yes, many tenants might hope to buy but the reality is different for
the reasons set out above. The RICS
predicts the number of tenants looking to rent will increase by 1.8 million
households by 2025, as rising house prices continue to make home ownership
increasingly unaffordable for younger generations. So, if we applied this rise to Canterbury, we
will in fact need an additional 2,552 private rental properties over the next
eight years (or 319 a year) … meaning the number of private rented properties
in Canterbury is projected to rise to an eye watering 8,507 households.<span style="font-size: 11pt;"><o:p></o:p></span></span></div>
</div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
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<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-49813549594404808262017-03-17T14:57:00.000+00:002017-03-17T14:59:54.088+00:00Canterbury First Time Buyers borrow £58.1m in the last 12 months<div class="p1">
<div class="p1">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Starting
with the bigger picture, over the last 12 months in the UK, 1,061,557
properties were sold with a total value of £223.74 bn. To give that some
context, ten years ago 1,581,727 properties sold with a total value of
£405.56bn, so it can be seen the number of people moving house has dropped by
over a third over the last decade.<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Whether
you are a landlord, homeowner or tenant, it’s always important to keep an eye
on the Canterbury property market, not just from your point of view, but also
from every player’s point of view. Over the last 12 months, 1,210 properties
have sold (and completed) in Canterbury, worth £362.7m. Interestingly the
number of properties changing hands in Canterbury has also dropped when
compared to a decade ago. <o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">It
might surprise you that first time buyers in 2017 will benefit from a slight
decline in Canterbury buy-to-let investors. <o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Those
looking to buy a home in the spring and summer of 2017 will face a far less
competitive Canterbury property market than the same time of year in 2016, when
the urgency to beat the buy-to-let stamp duty hike was in full swing. <o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Many
landlords brought forward their purchases to beat the tax, and since then, the
number of buy-to-let purchases has dropped slightly. First time buyers have
taken advantage of that and have increased their buying. In fact, looking at
the Bank of England figures, this is what UK lenders have lent on buy-to-let
properties versus first time buyers over the last 12 months …<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p1" style="margin-left: 36.0pt; text-indent: 36.0pt;">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Q4 2015 - £1bn buy-to-let
mortgages <b><i>vs</i></b> £1.31bn for first time buyers<o:p></o:p></span></div>
<div class="p1" style="margin-left: 36.0pt; text-indent: 36.0pt;">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Q1 2016 -
£1.35bn buy-to-let mortgages <b><i>vs</i></b> £1.08bn for first time buyers<o:p></o:p></span></div>
<div class="p1" style="margin-left: 36.0pt; text-indent: 36.0pt;">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Q2 2016 - £760m buy-to-let
mortgages <b><i>vs</i></b> £1.28bn for first time buyers<o:p></o:p></span></div>
<div class="p1" style="margin-left: 36.0pt; text-indent: 36.0pt;">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Q3 2016 - £827m buy-to-let
mortgages <b><i>vs</i></b> £1.42bn for first time buyers<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<div class="p2">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">When
looking at the figures for Canterbury itself, first time buyers have borrowed
more than £58.1m in the last 12 months to buy their first home. This is a
ringing endorsement of their confidence in their jobs and the local Canterbury economy.
Those 20 and 30 something’s who are considering being first time buyers in 2017
will find that the number of properties on the market has never been as good as
it has for quite a while, meaning you have more choice of properties and less
competition from so many buy-to-let landlords than a year ago.<o:p></o:p></span></div>
<div class="p1">
<br /></div>
<br />
<div class="p1">
<span style="font-family: "Trebuchet MS",sans-serif; font-size: 12.0pt;">Rightmove
announced nationally that new seller enquiries are 26% up on the same time last
year giving the stoutest indication that we may see a slight ease in the lack
of properties on the market. When I look at the Canterbury market, at this
moment in time there are an impressive 267 properties for sale, (so lots of
choice). All this will be welcome news amongst Canterbury first-time buyers with
a combination of a proportional reduction in new investors and landlords.<o:p></o:p></span></div>
</div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-48236327248829919552017-03-15T13:43:00.001+00:002017-03-15T13:48:58.464+00:00With 16,951 people in Private Rented Properties in Canterbury - Should you still be investing in Canterbury Buy To Let?<div class="MsoNormal" style="text-align: justify;">
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">If I were a buy to let landlord in Canterbury
today, I might feel a little bruised by the assault made on my wallet after being
(and continuing to be) ransacked over the last 12 months by HM Treasury’s tax
changes on buy to let. To add insult to injury, Brexit has caused a tempering
of the Canterbury property market with property prices not increasing by the
levels we have seen in the last few years. I think we might even see a very
slight drop in property prices this year and, if Canterbury property prices do
drop, the downside to that is that first time buyers could be attracted back into
the Canterbury property market; meaning less demand for renting (meaning rents
will go down). Yet, before we all run for the hills, all these things could be
serendipitous to every Canterbury landlord, almost a blessing in disguise.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">Canterbury has a population of 47,941, so when
I looked at the number of people who lived in private rented accommodation, the
numbers astounded me …<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div style="text-align: center;">
<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; text-align: justify; width: 520px;">
<tbody>
<tr style="height: 17.0pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td colspan="6" nowrap="" style="background: #A6A6A6; border-right: solid black 1.0pt; border: solid windowtext 1.0pt; height: 17.0pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 390.0pt;" valign="bottom" width="520"><div class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "trebuchet ms" , sans-serif;">Canterbury - Accommodation Type and
the Number of Occupiers<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="height: 101.15pt; mso-yfti-irow: 1;">
<td style="background: red; border-top: none; border: solid windowtext 1.0pt; height: 101.15pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Owned
outright - Canterbury<o:p></o:p></span></div>
</td>
<td style="background: #FFC000; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 101.15pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Owned
with a mortgage - Canterbury<o:p></o:p></span></div>
</td>
<td style="background: yellow; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 101.15pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Shared
ownership (part owned and part rented) - Canterbury<o:p></o:p></span></div>
</td>
<td style="background: #00B050; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 101.15pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Social
rented (aka Council Housing) - Canterbury<o:p></o:p></span></div>
</td>
<td style="background: #0070C0; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 101.15pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Private
rented - Canterbury<o:p></o:p></span></div>
</td>
<td style="background: #9437FF; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 101.15pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">Living
rent free - Canterbury<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 35.05pt; mso-yfti-irow: 2;">
<td nowrap="" style="border-top: none; border: solid windowtext 1.0pt; height: 35.05pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">9,340</span><span style="font-family: "trebuchet ms" , sans-serif;"><o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 35.05pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">10,977<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 35.05pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">484<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 35.05pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">9,512<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 35.05pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">16,951<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 35.05pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">677<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 33.7pt; mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
<td nowrap="" style="border-top: none; border: solid windowtext 1.0pt; height: 33.7pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-left-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">19.5%</span><span style="font-family: "trebuchet ms" , sans-serif;"><o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 33.7pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">22.9%<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 33.7pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">1.0%<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 33.7pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">19.8%<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 33.7pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">35.4%<o:p></o:p></span></div>
</td>
<td nowrap="" style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 33.7pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 65.0pt;" width="87"><div class="MsoNormal" style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;">1.4%<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
</div>
<div class="p2">
<br /></div>
<div class="p2">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt;">Yields will rise if Canterbury property
prices fall, which will also make it easier to obtain a buy to let mortgage, as
the income would cover more of the interest cost. If property values were to level
off or come down that could help Canterbury landlords add to their portfolio. Rental
demand in Canterbury is expected to stay solid and may even see an improvement
if uncertainty is protracted. However, there is something even more important
that Canterbury landlords should be aware of: the change in the anthropological
nature of these 20 something potential first time buyers.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">I have just come back from a visit to my
relations after a family get together. I got chatting with my nephew and his
partner. Both are in their mid/late
twenties, both have decent jobs in Canterbury and they rent. Yet, here was the
bombshell, they were planning to rent for the foreseeable future with no plans
to even save for a deposit, let alone buy a property. I enquired why they weren’t
planning to buy? The answers surprised me as a semi mature person, and it will
you. Firstly, they don’t want to put cash into property, they would rather
spend it on living and socialising by going on nice holidays and buying the
latest tech and gadgets. They want the flexibility to live where they choose
and finally, they don’t like the idea of paying for repairs. All their friends
feel the same. I was quite taken aback that buying a house is just not top of
the list for these youngsters.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">So, as </span><span style="font-family: "trebuchet ms" , sans-serif;">35.4% of Canterbury
people are in rented accommodation and as that figure is set to grow over the
next decade, now might just be a good time to buy property in Canterbury –
because what else are you going to invest in? Give your money to the stock market run by sharp
suited city whizz kids – because at least with property – it’s something you
can touch - there is nothing like bricks and mortar!<o:p></o:p></span></div>
</div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-82073564924316942022017-03-05T17:58:00.000+00:002017-03-05T17:58:16.222+00:00171 Canterbury Households Occupied by OAP Renters
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie7RnkAC4huzexhJEciopE44dFRabFFg_-OZ2NvvbgJD6dwb-eMhboknCvDbjl5FG9jipf-lqvK9YMFLMDvDGnOrZbylWtEvPjAbfbn_zaKRrr60tBM3a11YBRtBGTm_XwN0CyMOz9o4A/s1600/152+image+1.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="198" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie7RnkAC4huzexhJEciopE44dFRabFFg_-OZ2NvvbgJD6dwb-eMhboknCvDbjl5FG9jipf-lqvK9YMFLMDvDGnOrZbylWtEvPjAbfbn_zaKRrr60tBM3a11YBRtBGTm_XwN0CyMOz9o4A/s400/152+image+1.PNG" width="400" /></a></div>
<br />
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"></span> </div>
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; mso-pagination: none;">
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"></span> </div>
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; mso-pagination: none;">
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">Recent statistics
published by the Office of National Statistics show that there are 267,704
private rented households in the Country that are occupied by people aged 65 and
older, meaning 4.39% of OAP’s are living in private rented property.</span></div>
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"><o:p> </o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; mso-pagination: none;">
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">It got me thinking two
things. How many of these OAP’s have always rented and how many have sold up
and become a tenant?<span style="mso-spacerun: yes;"> </span>In retirement,
selling up could make financial sense to the mature generation in Canterbury, potentially
allowing them to liquidate the equity of their main home to enhance their
retirement income.<span style="mso-spacerun: yes;"> </span>I wanted to know why
these older people rent and whether there was opportunity for the buy to let
landlords of Canterbury?</span></div>
<br />
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">The Prudential published
a survey recently that said nearly six out of ten OAP renters had never owned a
home.<span style="mso-spacerun: yes;"> </span>Two out of ten OAP renters were required
to sell up because of debt, just about one in ten OAP renters sold their
property to use the money to fund their retirement and the remaining one out
ten OAP renters, rented for other reasons.</span></div>
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"><o:p> </o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; mso-pagination: none;">
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">Funding retirement is
important as the life expectancy of someone from Canterbury at age 65 (years)
is 19.4 years for males and 21.3 years for females (<i style="mso-bidi-font-style: normal;">interesting when compared to the National Average of 18.7 years for
males and 21.1 years for females</i>).<span style="mso-spacerun: yes;"> </span>The
burdens of financing a long retirement are being felt by many mature people of Canterbury.<span style="mso-spacerun: yes;"> </span>The state of play is not helped by rising
living costs and ultra-low interest rates reducing returns for savers.<o:p></o:p></span></div>
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"><o:p> </o:p></span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; mso-pagination: none;">
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">So, what of Canterbury?<span style="mso-spacerun: yes;"> </span>Of the 4,743 households in Canterbury, whose
head of the household is 65 or over, not surprisingly 3,318 of households were
owned (69.96%) and 1,111 (23.42%) were in social housing.<span style="mso-spacerun: yes;"> </span>However, the figure that fascinated me was
the 171 (3.61%) households that were in privately rented properties.</span></div>
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"></span> </div>
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; mso-pagination: none;">
<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">Anecdotal evidence, by
talking to both my team and other Canterbury property professionals is that
this figure is rising.<span style="mso-spacerun: yes;"> </span>More and more Canterbury
OAP’s are selling their large Canterbury homes and renting something more
manageable, allowing them to release all of their equity from their old
home.<span style="mso-spacerun: yes;"> </span>This equity can be gifted to grandchildren
(allowing them to get on the property ladder), invested in plans that produce a
decent income and while living the life they want to live. <o:p></o:p></span></div>
<br />
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">These Canterbury OAP
renters know they have a fixed monthly expenditure and can budget accordingly
with the peace of mind that their property maintenance and the upkeep of the
buildings are included in the rent.<span style="mso-spacerun: yes;"> </span>Many
landlords will also include gardening in the rent! Renting is also more adaptable
to the trials of being an OAP - the capability to move at short notice can be convenient
for those moving into nursing homes, and it doesn't leave family members panicking
to sell the property to fund care-home fees.</span><span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;"><o:p> </o:p></span></div>
<br />
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<span style="color: #353535; font-family: "Trebuchet MS","sans-serif"; mso-bidi-font-family: AppleSystemUIFont;">Canterbury landlords
should seriously consider low maintenance semi-detached bungalows on decent bus
routes and close to doctor’s surgeries as a potential investment strategy to broaden
their portfolio.<span style="mso-spacerun: yes;"> </span>Get it right and you
will have a wonderful tenant, who if the property offers everything a mature
tenant wants and needs, will pay top dollar in rent!<o:p></o:p></span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-40558870713586597042017-02-22T07:00:00.000+00:002017-02-22T16:29:39.050+00:00Canterbury Unemployment Drops to 5.7% and its effect on the Canterbury Property Market<br />
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlLnxqbiUx0CmMImmqOPwUasJxBmHc8RZlr7ieYsr8XDsqbpNoG7JGpvSFZRt2pZE6UoM0lQVfDPxr6yzoeJdZoOqj34yy1Zo_9F-2YNt3akF9i6Fy-NS4euez7u4L4_46BxeA68qmUt4/s1600/Barometer+22.02.17.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlLnxqbiUx0CmMImmqOPwUasJxBmHc8RZlr7ieYsr8XDsqbpNoG7JGpvSFZRt2pZE6UoM0lQVfDPxr6yzoeJdZoOqj34yy1Zo_9F-2YNt3akF9i6Fy-NS4euez7u4L4_46BxeA68qmUt4/s200/Barometer+22.02.17.jpg" width="200" /></a></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">It was late May 2016, The Right Hon. Member for Tatton, Mr
George Osborne, published an official HM Treasury analysis stating UK house
prices would be lower by at least 10% (and up to 18%) by the middle of 2018
compared with what is expected if the UK remained in the European Union. So, eight
months on from the Referendum, are we beginning to show signs of that prophecy?
The simple answer is yes and no.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">Good barometers of the housing market are the share prices
of the big UK builders. Much was made of Barratt’s share price dropping by 42.5%
in the two weeks after Brexit, along with Taylor Wimpey’s equally eye watering
drop in the same two weeks by 37.9%. Looking at the most recent set of data
from the Land Registry, property values in Canterbury are 0.89% up month on
month (but a few months previous saw values drop to as low as 0.59%) – so is
this the time to panic and run for the hills? </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">Doom and Gloom then? Well, let me consider the other side of
the coin.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">Well, as I have spoken about many times in my blog, it is
dangerous to look at short term. I have mentioned in several recent articles,
the heady days of the Canterbury property prices rising quicker than a thermometer
in the desert sun between the years 2011 and late 2016 are long gone – and good
riddance. Yet it might surprise you during those impressive years of house
price growth, the growth wasn’t smooth and all upward. Canterbury property values
dropped by an eye watering 1.78% in February 2012 and 1.09% in November 2013 –
and no one batted an eyelid then.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">You see, property values in Canterbury are still 11.35%
higher than a year ago, meaning the average value of a Canterbury property
today is £340,900. Even the shares of those new home builders Barratt have
increased by 43.3% since early July and Taylor Wimpey’s have increased by 37.3%.
The Office for Budget Responsibility, the Government Spending Watchdog,
recently revised down its forecast for house-price growth in the coming years -
but only slightly. </span></div>
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</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The Canterbury housing market has been steadfast partly
because, so far at least, the wider economy has performed better than expected
since Brexit. There is a robust link between the unemployment rate and property
prices, and a flimsier one with wage growth. Unemployment in the Canterbury
City Council area stands at 4,000 people (5.7%), which is considerably better
than a few years ago in 2013 when there were 6,400 people unemployed (9.6%) in
the same council area. </span></div>
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</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">However, inflation is the only thing that does worry me. Looking
at all the pundits, it will get to at least 3% (if not more) in the latter part
of 2017 as the drop in Sterling in late 2016 renders our imports with higher
prices. If that transpires then the Bank of England, whose target for inflation
is 2%, may raise interest rates from 0.25% to 2%+. However, that won’t be so
much of an issue as 81.6% of new mortgages in the UK in the last two years have
been fixed-rate and who amongst us can remember 1992 with Interest rates of
15%! </span></div>
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</span></div>
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<span style="font-family: "calibri";"><span style="font-family: "trebuchet ms" , sans-serif;">Forget Brexit and yes inflation will be a thorn in the side
– but the greatest risk to the Canterbury (and British) property market is that
there are simply not enough properties being built thus keeping house prices
artificially high. Good news for those on the property ladder, but not for
those first-time buyers that aren’t! In the coming weeks in my articles on the Canterbury
Property Market, I will discuss this matter further!</span> </span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-72289661167890236792017-02-14T10:41:00.001+00:002017-02-14T10:41:24.660+00:00£5.93bn – The total value of all Canterbury Property Market<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-iUY_FI1tYSVoBHhHl04H-btzFWYPwdp1v6WHa_M2SWfXXlld3xgwTOy29SV_dSFzv0BggtFmPymetdXPiPG856qiTWZrmVfDkjx0ScosVKG1J0tNwDGdT4_8wP8YL6Lw7dnWWNVTGX0/s1600/Money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-iUY_FI1tYSVoBHhHl04H-btzFWYPwdp1v6WHa_M2SWfXXlld3xgwTOy29SV_dSFzv0BggtFmPymetdXPiPG856qiTWZrmVfDkjx0ScosVKG1J0tNwDGdT4_8wP8YL6Lw7dnWWNVTGX0/s320/Money.jpg" width="315" /></a></div>
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<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">“How much would it cost to buy all the properties in Canterbury?”</span></div>
<div style="text-align: justify;">
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</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">This fascinating question was posed by the 11-year-old son
of one of my Canterbury landlords when they both popped into my offices before
the Christmas break (doesn’t that seem an age away now!). I thought to myself,
that over the Christmas break, I would sit down and calculate what the total
value of all the properties in Canterbury are worth … and just for fun, work
out how much they have gone up in value since his son was born back in the autumn
of 2005.</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">In the last 11 years, since the autumn of 2005, the total
value of Canterbury property has increased by 56% or £2.13 billion to a total
of £5.93 billion. Interesting, when you consider the FTSE100 has only risen by
30.78% and inflation (i.e. the UK Retail Price Index) rose by 37% during the
same 11 years.</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">When I delved deeper into the numbers, the average price
currently being paid by Canterbury households stands at £312,103.… but you know
me, I wasn’t going to stop there, so I split the property market down into
individual property types in Canterbury; the average numbers come out like this
..</span></div>
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</span><table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184; width: 512px;">
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<tr style="height: 19.7pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td colspan="4" nowrap="" style="background: rgb(217, 217, 217); border-color: windowtext black windowtext windowtext; border-image: none; border-style: solid; border-width: 1pt; height: 19.7pt; mso-border-bottom-alt: windowtext .5pt; mso-border-left-alt: windowtext 1.0pt; mso-border-right-alt: black 1.0pt; mso-border-style-alt: solid; mso-border-top-alt: windowtext 1.0pt; padding: 0cm 5.4pt; width: 384pt;" width="512">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Canterbury Property Market</span></div>
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</span></td></tr>
<tr style="height: 49.45pt; mso-yfti-irow: 1;"><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 49.45pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-left-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Average Value of a Detached Property</span></div>
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</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 49.45pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Average Value of a Semi-Detached Property</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 49.45pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Average Value of a Terraced/Town House Property</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 49.45pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Average Value of an Apartment</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td></tr>
<tr style="height: 40.85pt; mso-yfti-irow: 2; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 40.85pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-left-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£470,727</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 40.85pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£319,962</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 40.85pt; mso-border-bottom-alt: solid windowtext 1.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£291,891</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 40.85pt; padding: 0cm 5.4pt; width: 96pt;" width="128"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£186,456</span></div>
</td>
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<span style="font-family: Calibri;"> </span></div>
<br />
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">... yet it got even more fascinating when I multiplied the
total number of each type of property by the average value. Even though detached
houses are so expensive, when you compare them with the much cheaper semi-detached
houses, you can quite clearly see detached properties are no match in terms to
total pound note value of the semi-detached houses.</span></div>
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</span><table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184; width: 517px;">
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<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Total Value of all the Canterbury Detached Properties</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: windowtext windowtext windowtext rgb(0, 0, 0); border-image: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt 0px; height: 58pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Total Value of all the Canterbury Semi-Detached Properties</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: windowtext windowtext windowtext rgb(0, 0, 0); border-image: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt 0px; height: 58pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Total Value of all the Canterbury Terraced/Town House
Properties</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: windowtext windowtext windowtext rgb(0, 0, 0); border-image: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt 0px; height: 58pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">Total Value of all the Canterbury Apartments</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td></tr>
<tr style="height: 58pt; mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 58pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£1,505,855,673</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 58pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£1,895,454,888</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 58pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£1,558,989,831</span></div>
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></td><td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 58pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 97pt;" width="129"><span style="font-family: "Trebuchet MS", sans-serif;">
</span><div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Trebuchet MS", sans-serif;">£971,803,460</span></div>
</td>
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<span style="font-family: Calibri;"> </span></div>
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<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">So, what does this all mean for Canterbury?<span style="mso-spacerun: yes;"> </span>Well as we enter the unchartered waters of
2017 and beyond, even though property values are already declining in certain
parts of the previously over cooked Central London property market, the outlook
in Canterbury remains relatively good as over the last five years, the local
property market was a lot more sensible than central London’s. </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Canterbury house values will remain resilient for several
reasons. Firstly, demand for rental property remains strong with continued immigration
and population growth.<span style="mso-spacerun: yes;"> </span>Secondly, with
0.25 per cent interest rates, borrowing has never been so cheap and finally the
simple lack of new house building in Canterbury not keeping up with current
demand, let alone eating into years and years of under investment – means only
one thing – yes it might be a bumpy ride over the next 12 to 24 months but, in
the medium term, property ownership and property investment in Canterbury has
always, and will always, ride out the storm.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">In the coming weeks, I will look in greater detail at my
thoughts for the 2017 Canterbury Property Market. As always, all my articles
can be found at the Canterbury Property Market Blog </span><a href="http://www.canterburypropertyblog.com/"><span style="color: #0563c1; font-family: "Trebuchet MS", sans-serif;">www.canterburypropertyblog.com</span></a><span style="font-family: "Trebuchet MS", sans-serif;">
.</span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-613126807736235032017-02-06T09:24:00.000+00:002017-02-06T11:29:45.113+00:00£25m a year black hole in the Canterbury Property Market - Is Buy to Let Immoral? (Part 2)<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLyvUuQHUR297cPAExdG6xxctVJT5vNXsovadu2TOFgT_J3WzGi1u6g2EVmr1FPB4N_PnVzUej4gA4EzqxkTMTDIfUluhTCI6ApGFAPziWK_luk4O1W3IxyllgT4YFpkVpFRFtVgvc2a4/s1600/Black+Hole.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLyvUuQHUR297cPAExdG6xxctVJT5vNXsovadu2TOFgT_J3WzGi1u6g2EVmr1FPB4N_PnVzUej4gA4EzqxkTMTDIfUluhTCI6ApGFAPziWK_luk4O1W3IxyllgT4YFpkVpFRFtVgvc2a4/s1600/Black+Hole.jpg" /></a></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">An Englishman’s Home is His Castle as Maggie Thatcher lauded
- everyone should own their own home. In 1971, around 50% of people owned their
own home and, as the baby-boomers got better jobs and pay, that proportion of
homeowners rose to 69% by 2001. Homeownership was here to stay as many baby
boomers assumed it’s very much a cultural thing here in Britain to own your own
home.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">But on the back of TV programmes like Homes Under the
Hammer, these same baby boomers started to jump on the band wagon of Canterbury
buy to let properties as an investment. Canterbury first time buyers were in
competition with Canterbury landlords to buy these smaller starter homes … pushing
house prices up in the 2000’s (as mentioned in Part One) beyond the reach of
first time buyers. Alas, it is not as simple as that. Many factors come into
play, such as economics, the banks and government policy. But are Canterbury landlords
fanning the flames of the Canterbury housing crisis bonfire?</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">I believe that the landlords of the 5,955 Canterbury rental
properties are not exploitive and are in fact, making many positive
contributions to Canterbury and the people of Canterbury. Like I have said
before, Canterbury (and the rest of the UK) isn’t building enough properties to
keep up the demand; with high birth rate, job mobility, growing population and
longer life expectancy.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">According to the Barker Review, for the UK to standstill and
meet current demand, the country needs to be building 8.7 new households each
and every year for every 1,000 households already built. Nationally, we are
currently running at 5.07 per thousand and in the early part of this decade
were running at 4.1 to 4.3 per thousand.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">It doesn’t sound a lot of difference, so let us look at what
this means for Canterbury …</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">For Canterbury to meet its obligation on the building of new
homes, Canterbury would need to build 173 households each year. Yet, we are
missing that figure by around 72 households a year.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">For the Government to buy the land and build those
additional 72 households, it would need to spend £25,422,838 a year in Canterbury
alone. Add up all the additional households required over the whole of the UK
and the Government would need to spend £23.31bn each year … the Country hasn’t
got that sort of money!<br /></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">With these problems, it is the property developers who are
buying the old run-down houses and office blocks which are deemed uninhabitable
by the local authority, and turning them into new attractive homes to either be
rented privately to Canterbury families or Canterbury people who need council
housing because the local authority hasn’t got enough properties to go around. <br /></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The bottom line is that, as the population grows, there
aren’t enough properties being built for everyone to have a roof over their
head. Rogue landlords need to be put out of business, whilst tenants should
expect a more regulated rental market, with greater security for tenants, where
they can rely on good landlords providing them high standards from their safe
and modernised home. As in Europe, where most people rent rather than buy, it
doesn’t matter who owns the house – all people want is a clean, decent roof
over their head at a reasonable rent. </span></div>
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</span><span style="font-family: "trebuchet ms" , sans-serif;">So only you, the reader, can decide if buy to let is
immoral, but first let me ask this question - if the private buy to let
landlords had not taken up the slack and provided a roof over these people’s
heads over the last decade .. where would these tenants be living now? ….. because
the alternative doesn’t even bear thinking about!</span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-74955801878066931102017-01-31T15:55:00.001+00:002017-01-31T15:55:09.207+00:00Canterbury’s private renting set to hit 8,397 households by 2021 - Is Buy to Let immoral? (Part 1)
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgor9jyUbBRJNvnProH37KAZh-KzM00xkJn9umhS2gmQ5R-9imHTOvXKmYyjChvRXUTDNgbNiPEUxZlUbQTVsyAVQu5eNbj2W-DkUeUd-HB3IJ9KFhyphenhyphen2Inaqrc5LjJHdGgiEl0oLx-3Zs/s1600/Baby+Boomers.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="148" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgor9jyUbBRJNvnProH37KAZh-KzM00xkJn9umhS2gmQ5R-9imHTOvXKmYyjChvRXUTDNgbNiPEUxZlUbQTVsyAVQu5eNbj2W-DkUeUd-HB3IJ9KFhyphenhyphen2Inaqrc5LjJHdGgiEl0oLx-3Zs/s320/Baby+Boomers.jpg" width="320" /></a></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Can we blame the 55 to 70-year-old Canterbury citizens for
the current housing crisis in the city? </span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Also known as the ‘Baby Boomer Generation’, these Canterbury
people were born after the end of the Second World War as the country saw a massive
rise in births as they slowly recovered from the economic hardships experienced
during wartime. </span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Throughout the 1970’s and 1980’s, they experienced (whilst
in their 20’s, 30’s and 40’s) an unparalleled level of economic growth and
prosperity throughout their working lifetime on the back of improved education,
government subsidies, escalating property prices and technological developments,
they have emerged as a successful and prosperous generation. </span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">...Yet some have suggested these Canterbury
baby boomers have (and are) making too much money to the detriment of
their children, creating a ‘generational economic imbalance’, where mature
people benefit from house-price growth while their children are forced either
to pay massive rents or pay large mortgages.</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"><strong>Between 2001 and today, average earnings rose by 65%, </strong></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"><strong>but average Canterbury house prices rose by 154.3%</strong></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">The issue of housing is particularly acute with the generation
called the Millennials, who are young people born between the mid 1980’s and
the late 1990’s. These 18 to 30 years, moulded by the computer and internet
revolution, are finding as they enter early adult life, very hard to buy a
property, as these ‘greedy’ landlords are buying up all the property to rent
out back to them at exorbitant rents ... it’s no wonder these Millennials are
lashing out at buy to let landlords, as they are seen as the greedy, immoral, wicked
people who are cashing in on a social despair.</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Like all things in life, we must look to the past, to
appreciate where we are now.</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">The three biggest influencing factors on the Canterbury (and
UK) property market in the later half of the 20th Century were, firstly, the
mass building of Council Housing in the 1950’s and 60’s. Secondly, for the Tory
party to sell most of those Council Houses off in the 1980’s and finally 15%
interest rates in the early 1990’s which resulted in many houses being
repossessed. It was these major factors that underpinned the housing crisis we
have today in Canterbury.</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">To start with, in 1995 the USA relaxed its lending rules by
rewriting the Community Reinvestment Act. This Act saw a relaxation on the
Bank’s lending criteria’s as there was pressure on these banks to lend on
mortgages in low wage neighbourhoods, as the viewpoint in the USA was that anyone
(even someone on the minimum wage) any working class person should be able to buy
a home. <span style="mso-spacerun: yes;"> </span>Unsurprisingly, the UK followed
suit in the early 2000’s, as Banks and Building Society’s relaxed their lending
criteria and brought to the market 100% mortgages, even Northern Rock started lending
every man and his dog 125% mortgages.</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">So when we roll the clock forward to today, and we can observe
those very same footloose banks from the early/mid 2000’s (that lent 125% with
a just note from your Mum and a couple of breakfast cereal tokens), ironically reciting
the Bank of England backed hymn-sheet of responsible-lending. On every first
time buyer mortgage application, they are now looking at every line on the 20-something’s
banks statements, asking if they are spending too much on socialising and
holidays ... no wonder these Millennials are afraid to ask for a mortgage (as
more often than not after all that – the answer is negative).</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Conversely, you have unregulated Buy To Let mortgages. As
long as you have a 25% deposit, have a pulse, pass a few very basic yardsticks
and have a reasonable job, the banks will literally throw money at you ... I
mean Virgin Money are offering 2.99% fixed for 3 years – so cheap!</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">So, in Part Two next week, I will continue this emotive
article and show you some very interesting findings on why young people aren’t
buying property anymore (and it’s not what you think!).</span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-31968739639231981092017-01-25T16:41:00.000+00:002017-01-25T16:43:24.141+00:00Canterbury property price rises set to be more restrained in 2017 due to Brexit<div style="text-align: justify;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZj4sL_X2vofgCsRpi-pwmGuEaAQ4GMQe3O1EAZtbLGVo695SF63QA6RFBmMLlb9RKdYmn3Z6HYvgKMo9gcuoTVYLekl5urWraU39gtIbAq3QThew2Mf9CBwArXDFXujT-o7SKntUt-LU/s1600/Two+men+carrying+house.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="319" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZj4sL_X2vofgCsRpi-pwmGuEaAQ4GMQe3O1EAZtbLGVo695SF63QA6RFBmMLlb9RKdYmn3Z6HYvgKMo9gcuoTVYLekl5urWraU39gtIbAq3QThew2Mf9CBwArXDFXujT-o7SKntUt-LU/s320/Two+men+carrying+house.jpg" width="320" /></a></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">While Brexit has not yet had a sizeable impact on the Canterbury
housing market, my analysis is pointing to the fact that the economic viewpoint
still remains uncertain and Canterbury property price growth is likely to be more
subdued during 2017 - although that isn’t a bad thing so let me explain.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Since the summer, apart from a little wobble of uncertainty
a few weeks after the Referendum vote, property values (and the economy), on
the whole has outperformed what most people were anticipating. In fact, when I
looked at the property prices for our Canterbury City Council area, these were
the results...</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">November 2016<span style="mso-spacerun: yes;"> </span><span style="mso-tab-count: 1;"> </span>- rise of 0.89%</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">October 2016<span style="mso-tab-count: 2;"> </span>-
rise of 1.09%</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">September 2016<span style="mso-tab-count: 1;"> </span>-
rise of 1.32%</span></div>
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</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">August 2016<span style="mso-tab-count: 2;"> </span>-
rise of 1.89%</span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">
</span><br />
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;">July 2016<span style="mso-tab-count: 2;"> </span>-
rise of 1.78%</span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">
</span><br />
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;">June 2016<span style="mso-tab-count: 2;"> </span>-
drop of 0.59%</span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">
</span><br />
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">
</span><br />
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">The UK property market continues to perform robustly (because
we can’t just look at Canterbury as if in its own little bubble) with annual
price growth set ended last year at 11.35% and most South East region property
market at 9.1%. </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">Talking to fellow agents in London, the significant tidal
wave of growth seen from 2013 through to 2015 in the capital has subdued over
the last six months. However, as that central London house price wave has started
to ripple out, agents are starting to see stronger property growth values in East
Anglia and the South East regions outside of London, than what is being seen
within the M25. So, fellow Canterbury landlords and homeowners, is this the
time to get your surfboards ready for the London wave?</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">Well, we in Canterbury haven’t really been affected by what
is happening in the central London property mega bubble (i.e. Kensington,
Chelsea, Marylebone, Mayfair etc.). The property market locally is more driven
by sentiment, especially the ‘C’ word ... confidence. The main forces for a weaker
Canterbury Property market relate to economic uncertainty surrounding the
Brexit process, which I believe will impact unhelpfully on consumer confidence
in the run up to and just after the serving of the Section 50 Notice by the end
of Q1 2017.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">In addition, the influence of reforms to the taxation of
landlords is expected to result in a reduced demand from buy to let landlords,
which will limit upward pressure on property values. However, on the other side
of the coin, demand from tenants has been strong, but this has been counterbalanced
by a strong supply of rental properties. In my opinion, there is a slight risk
of rents not growing as much in 2017 as they have in 2016, but by 2018 they
will rise again to counteract Philip Hammond’s changes to tenant fees.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">The broader Canterbury rental market looks relatively
positive with modest rental growth expected and rents might rise further if
landlords begin to sell properties in an effort to offset to the impact of tax
rises.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">So what do I predict will happen to the Canterbury housing
market during 2017? <span style="mso-spacerun: yes;"> </span>In Canterbury, I
believe price values are expected to fall by 2.3% in 2017 compared to a rise of
11.35% this year, then pick up to growth of 1.9% in 2018, 3.1% in 2019, then
4.2% in 2020 and 6.5% in 2021.</span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">But these predictions do not take into account any effect of
a possible snap General Election or further referendum on ratifying any Brexit
deal (if that comes to pass in the future).</span></div>
<div style="text-align: justify;">
</div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "calibri";"> </span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-67247310654116318562017-01-19T15:33:00.000+00:002017-01-19T15:33:25.485+00:00Canterbury OAP’s sitting on £1.51 bn of Property
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTsiNofjyXjNCURGBkjmIe7ynP7ec1VfeFKd9cbbRZD467ORL3jiSHFX_m84H7vnF5ZXWJ_OpezHmo7aZzmQNX6erlPpLSxeGrpNEAW-p_q8CeKF0fAq8veHVGSXyz60RZcei7f7XaYI0/s1600/OAP.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTsiNofjyXjNCURGBkjmIe7ynP7ec1VfeFKd9cbbRZD467ORL3jiSHFX_m84H7vnF5ZXWJ_OpezHmo7aZzmQNX6erlPpLSxeGrpNEAW-p_q8CeKF0fAq8veHVGSXyz60RZcei7f7XaYI0/s400/OAP.jpg" width="400" /></a></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Canterbury people aged over 65 currently hold more housing
wealth in their homes than the annual GDP of the whole of the Isle of Anglesey …
and this is a problem for everyone in Canterbury!</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Many retiree’s want to move but cannot, as there is a
shortage of such homes for mature people to downsize into.<span style="mso-spacerun: yes;"> </span>Due to the shortage, bungalows command a
10% to 20% premium per square foot over houses of the same size with stairs. To
add to the woes, in 2014, just 1% of new builds in the UK were bungalows,
according to the National House Building Council - down from 7% in 1996.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">My research has found that there are 4,369 households in Canterbury
owned outright (i.e. no mortgage) by over 65 year olds.<span style="mso-spacerun: yes;"> </span>Taking into account the average value of a
property in Canterbury, this means £1.51 billion of equity is locked up in
these Canterbury homes, compared to the GDP of the whole of the Isle of
Anglesey being £797 million of GDP.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">A recent survey by YouGov, found that 36% of people aged
over 65 in the UK are looking to downsize into a smaller home. <span style="mso-spacerun: yes;"> </span>However, the Government seems to focus all its
attention on first-time buyers with strategies such as Starter Homes to ensure
the youngsters of the UK don’t become permanent members of ‘Generation
Rent’.<span style="mso-spacerun: yes;"> </span>Conversely, this overlooks the
chronic under-supply of appropriate retirement housing essential to the needs
of the Canterbury’s rapidly ageing population. Regrettably, the Canterbury’s
housing stock is woefully unprepared for this demographic shift to the 'stretched
middle age’, and this has created a new 'Generation Trapped’ dilemma where
older people cannot move. </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Some OAP’s who are finding it difficult to live on their
own, are unable to leave their bungalow because of a lack of sheltered housing
and ‘affordable’ care home places.<span style="mso-spacerun: yes;"> </span>So,
older retirees can't leave bungalows, younger retirees can't buy bungalows and
younger people can't buy family houses.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Interestingly, adding insult to injury, the problem will
only get worse, as in the 50 year old to 64 year old homeownership age range
there are an additional 2,617 Canterbury households that are mortgage free and
a further 2,189 Canterbury households who will be completing their mortgage
responsibility.<span style="mso-spacerun: yes;"> </span>With Government
projections showing the proportion of over 65’s will rise by over a third from
the current 17.7% to 24.3% of the population in the next 20 years ... this can
only add greater pressure to the Canterbury Property market.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">House prices have rocketed over the last 40 years because
the supply of property has not kept up with demand. With migration, people
living longer and high divorce rates (meaning one family becomes two) we need,
as a Country, 240,000 properties to be built a year to just stand still. <span style="mso-spacerun: yes;"> </span>In the 1990’s and early 2000’s, the Country
was building on average 180,000 to 190,000 households a year, but since the
Credit Crunch (2009), that has only been between 130,000 and 145,000 households
a year.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: Calibri;"><span style="font-family: "Trebuchet MS", sans-serif;">The solution …. release more land for starter homes,
bungalows and sheltered accommodation because land prices are killing the
housing market as the large firms dominating the construction industry are more
likely to focus on traditional houses and apartments.<span style="mso-spacerun: yes;"> </span>My opinion – until the Government change the planning
rules and allow more land to be built on – Bungalows could be a decent bet for
future investment as they continue to attract ever growing premiums?</span> </span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-81370504846211887312017-01-12T08:03:00.003+00:002017-01-12T08:03:54.108+00:00Canterbury Property Market – Update 2017
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<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7U_kHkd2KwyJqb3qgeuGEQfTpLx9OTjMsLURG94hPjUB5-9T5C2Li6n5juizOsP1CA9JgwdpMB9TbQ3sSnQRsfqSVMtN-1brdBBWF9thyphenhyphenzYnM89oSJGohZ-04M9HGPcF8FRpTrsalbD0/s1600/Crystal+Ball.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7U_kHkd2KwyJqb3qgeuGEQfTpLx9OTjMsLURG94hPjUB5-9T5C2Li6n5juizOsP1CA9JgwdpMB9TbQ3sSnQRsfqSVMtN-1brdBBWF9thyphenhyphenzYnM89oSJGohZ-04M9HGPcF8FRpTrsalbD0/s1600/Crystal+Ball.jpg" /></a></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Well, wasn’t 2016 eventful. The ups and downs of Brexit, the
Queen’s 90th, Andy Murray winning Wimbledon, Trump, Bake Off to Channel 4 and
something close to the hearts of every buy to let landlord and homeowner in Canterbury
... the Canterbury property market.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">So, let’s look at the headlines for the Canterbury property market...</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">In the last month, Canterbury property values rose by 0.81%,
leaving them, year on year 9.9% higher, whilst interestingly, Canterbury asking
prices are down 2.0% month on month. All three statistics go to show the Canterbury
property market has recovered well after the summer lull, which was worsened by
the uncertainty surrounding the EU vote back in June. Irrespective of all the
issues, the average value of a Canterbury home now stands at £346,400.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Generally, Canterbury asking prices continue to hold up
well, as asking prices are 4.7% higher year on year. Asking prices tend to drop
on the run up to Christmas and locally, they dropped by 2.0% last month
(December 2016), although this still compares well with last year’s drop in Canterbury
asking prices, as we saw asking prices drop by 1.1% in December 2015. </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Now it’s true to say, after chatting with fellow property professionals
in Canterbury, all of us have seen the number of property sales fall slightly,
suggesting a slowing market, but it is very early days and it could be the time
of year. Also, the numbers are limited, so it’s interesting to take note from a
recent survey by the Royal Institution of Chartered Surveyors, stating new
buyer enquiries and new instructions are falling at the same rate, suggesting
that there will not be a downward pressure on property values.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Looking at the figures for the UK (as we can’t just look at Canterbury
in isolation), property values are generally rising slower than a few years ago,
but on a positive note, there's still growth across the UK. You see, slowing property
value growth isn't solely Brexit related, but after a number years of
double digit rises in property values, affordability has weakened and cooling
price growth is widely seen to be a natural correction of the market.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">On the other hand, interest rates being at a record low of
0.25% are helping the property market. The cut in interest rates in the late summer
was the medicine for the post-Brexit worry and will, as a consequence, ensure
that the UK economy continues to be underpinned by buoyant property prices.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> So, what will happen in 2017 in the Canterbury property
market? </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Some say until we know what type of exit the UK will make
from the EU it is hard to evaluate the outcome. Although, I believe, the whole
Brexit issue is a sideshow to the main issue in the UK (and Canterbury) housing
market as a whole. As I have mentioned time and time again over the last few
months, the biggest issue is demand outstripping supply when it comes to the
number of households required to house us all. Canterbury has an ever-growing
population: with immigration (we still have at least two years of free movement
from EU members into the UK), people living longer and the fact we need thousands
of additional households as the country has nearly 115,000 divorces a year
(where one household becomes two households).<span style="mso-spacerun: yes;">
</span>These are interesting times ahead!<span style="mso-spacerun: yes;">
</span></span></div>
<div style="text-align: justify;">
</div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: Calibri;"> </span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-65251927400064274572016-12-14T11:49:00.002+00:002016-12-14T11:49:37.394+00:00£15m paid in Stamp Duty by Canterbury Residents
<br />
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">“A pound saved is worth two pounds earned . . . after taxes”
is what my Grandfather used to say. He loved his irony, yet was always a wise
man, and it is tax I want to talk about today, in particular, property taxation
.. Stamp Duty in fact.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Apart from some minor exemptions, Stamp Duty is paid by
anyone buying a property over £125,000 in the UK. It presently raises £10.68bn
a year for the HM Treasury (interesting when compared with £27.6bn in fuel
duty, £10.69bn in alcohol duty and £9.48bn in tobacco duty).</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">In the latest set of data from HMRC, in the MP constituency that
covers Canterbury, property buyers paid £15m stamp duty in one year alone – a
lot of money in anyone’s eyes (although not as much as the £232m in income tax
that all of us in the same area paid last year).</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">However, as you may know, George Osborne introduced an
additional tax for landlords and from 1st April 2016 they had to pay an
additional 3% stamp duty surcharge on top of the normal stamp duty rate when purchasing
a buy to let property. There were tales of woe and Armageddon with a report by
Deutsche Bank suggesting that the new surcharge could see house prices fall by
as much as 20%. </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">HMRC data released in the Summer for Quarter 2 (Q2) of 2016
did seem to back up those fears as they published some worrying figures; only one
in seven properties purchased was a second home or buy-to-let (in real numbers,
only 30,300 of the 207,900 properties in Q2 were bought by landlords).</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">In previous articles, I spoke about the slump of property
transactions after the 1st of April (as landlords rushed through their property
purchases in March to beat the April deadline). In Q2 of 2016, £1.976bn was
raised in Stamp Duty from Residential Property. Of that £1.976bn, £652m was
paid by buy to let landlords (£424m in normal stamp duty and £228m in the
additional 3% surcharge).</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">However, looking at Q3, the numbers have improved
significantly. Of the 235,000 property sales, nearly one in four of them
(56,100 to be precise) were bought by buy to let landlords and of the £2.208bn
in stamp duty, £864m was paid in ‘normal’ stamp duty by BTL landlords and an
impressive £442m paid by those same landlords in the additional stamp duty
surcharge.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">The statistics suggest buy to let investors have thankfully
not been deterred by the stamp duty surcharge introduced in April this
year. The figures also show that 65.4% of "buy to let" purchases cost
less than £250,000, 23.7% of properties were in the £250k to £500k range and
10.9% (or 6,100 additional properties) of buy to let properties bought cost
over £500k – interestingly nearly one in four (22.2%) of £500k properties
purchased in Q3 were buy to let properties. </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">It just goes to back up what I stated a few weeks ago when I
suggested that many investors had rushed to make purchases before 31st March,
making figures in the following months (Q2) artificially low when the 3%
supplement was introduced, but in Q3 the number of buy to let properties
purchased increased by 85%. </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;"> </span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">It just goes to show you shouldn’t believe everything you
read in the newspapers! I can assure you the Canterbury property market is
doing just fine. For more thoughts on the Canterbury Property Market like this
.. visit the Canterbury Property Market Blog </span><a href="http://www.canterburypropertyblog.com/"><span style="color: #0563c1; font-family: "Trebuchet MS", sans-serif;">www.canterburypropertyblog.com</span></a><span style="font-family: Calibri;"><span style="font-family: "Trebuchet MS", sans-serif;">.</span>
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: Calibri;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilWRK2p_7JChkyrKoXVkyvceUy7ZywWHt5SaaKak_1R4E4XhMqhPh5fSjVKN2AN-RXghQFWHapTF8uu9w6YMWUJ9W0RoF5NNRV5-zDlkl_ISfJGGx53imt_ivkV5iFgqZy91Es_UB65FU/s1600/Canterbury+141.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="271" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilWRK2p_7JChkyrKoXVkyvceUy7ZywWHt5SaaKak_1R4E4XhMqhPh5fSjVKN2AN-RXghQFWHapTF8uu9w6YMWUJ9W0RoF5NNRV5-zDlkl_ISfJGGx53imt_ivkV5iFgqZy91Es_UB65FU/s400/Canterbury+141.png" width="400" /></a></div>
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<span style="font-family: Calibri;"><br /></span></div>
The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-77140488532742191302016-12-05T16:01:00.000+00:002016-12-05T16:01:06.123+00:00Average Rent Paid by Tenants in Canterbury rise to £1,246 per month<br />
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Back in the Spring, there was a surge in Canterbury
landlords buying Buy-to-Let property in Canterbury as they tried to beat George
Osborne’s new stamp duty changes which kicked in on the 1st April 2016. To give
you an idea of the sort of numbers we are talking about, below are the property
statistics for sales either side of the deadline in CT1.</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: Trebuchet MS;"><br /></span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Jan 2016 – 47 properties sold</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Feb 2016 – 56 properties sold</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">March 2016 – 84 properties sold</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">April 2016 – 24 properties sold</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">
</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">May 2016 – 23 properties sold</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<br /></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">Normally, the number of sales in the Spring months is very
similar, irrespective of the month. However, as one can see, this year was a
completely different picture as landlords moved their purchases forward to beat
the stamp duty increase. You would think that even with a basic knowledge of
supply and demand economics, rents would be affected in a downwards direction?</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<br /></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">However, there appears to be no apparent effect on the levels
of rent being asked in Canterbury - and more importantly achieved - and this direction
of rents is not likely to inverse any time soon, particularly as legislation
planned for 2017 might reduce rental stock and push property values ever upward.
The decline of Buy-to-Let mortgage interest tax relief will make some properties
lossmaking, forcing landlords to pass on costs to tenants in the form of higher
rents just to stay afloat. Even those who can still operate may be deterred
from making further investments, reducing rental stock at a time of severe
property shortage.</span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<br /></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">.. but it’s not all bad news for tenants. Whilst average
rents in Canterbury since 2005 have increased by 22.6%, inflation has been
38.5% over the same time frame, meaning Canterbury tenants are 15.9% better off
in real terms when it comes to their rent (which is a sizeable chunk of most
people’s monthly household budgets)</span></div>
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;"> </span></div>
<div align="center">
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse; border-image: none; border: currentColor; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="height: 30.55pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="background-color: transparent; border-image: none; border: 1pt solid windowtext; height: 30.55pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="top" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">Year</span></div>
</td>
<td style="background-color: transparent; border-color: windowtext windowtext windowtext rgb(0, 0, 0); border-image: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt 0px; height: 30.55pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="top" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">Average Rent in Canterbury per month</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 1;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2005</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1016</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 2;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2006</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1039</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 3;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2007</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1062</span></div>
</td>
</tr>
<tr style="height: 13.65pt; mso-yfti-irow: 4;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 13.65pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2008</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 13.65pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1098</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 5;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2009</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1114</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 6;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2010</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1099</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 7;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2011</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1126</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 8;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2012</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1151</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 9;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2013</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1168</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 10;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2014</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1185</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 11;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="bottom" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2015</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1212</span></div>
</td>
</tr>
<tr style="height: 12.95pt; mso-yfti-irow: 12; mso-yfti-lastrow: yes;">
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext; border-image: none; border-style: none solid solid; border-width: 0px 1pt 1pt; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 110.05pt;" valign="top" width="147">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">2016</span></div>
</td>
<td style="background-color: transparent; border-color: rgb(0, 0, 0) windowtext windowtext rgb(0, 0, 0); border-style: none solid solid none; border-width: 0px 1pt 1pt 0px; height: 12.95pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 132.85pt;" valign="bottom" width="177">
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;">1246</span></div>
</td>
</tr>
</tbody></table>
</div>
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;"> </span></div>
<div style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;"> </span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">I found it particularly interesting looking at the rent
rises over the last five years in Canterbury, as it was five years ago we
started to see the very early green shoots of growth of the Canterbury economy.
<span style="mso-spacerun: yes;"> </span>As a whole, following the Credit crunch (2011),
rents in Canterbury have risen by an average of 2.4% a year – fascinating don’t
you think?</span></div>
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<br /></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">The view I am trying to portray is that while renting is
often portrayed as the unfavorable alternative to home ownership, many young Canterbury
professionals like renting as it gives them adaptability with their life. Rents
will continue to rise which is good news for landlords as buy to let is an
investment but, as can be seen from the statistics, tenants have also had a
good deal with below inflation increases in rents in the past. It’s a win-win
situation for everyone although on a very personal note, it’s imperative in the
future that tenants are not thwarted from saving for a deposit by excessive
rental hikes – there has to be a balance.</span></div>
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<br /></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">For more thoughts and opinions on the Canterbury Property
Market, if you are a Canterbury Homeowner or Canterbury landlord, please visit
the Canterbury Property Blog </span><a href="http://www.canterburypropertyblog.com/"><span style="color: #0563c1; font-family: "Trebuchet MS", sans-serif;">www.canterburypropertyblog.com</span></a><span style="font-family: "Trebuchet MS", sans-serif;">
.</span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0tag:blogger.com,1999:blog-4138664571070832463.post-59548014113321857822016-11-26T13:53:00.000+00:002016-11-26T13:53:37.354+00:00Canterbury Property Values increase by 1.75% ... good or bad news?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5IPGuUI1BWHddMsHYFMl-N2-209iAuqNUn5RRcxzX6PVr5WHp7XkSy4YqMI0_G3Rkug8EfpaQYcTWmgZ8PNsiHv1Cgvejjmn35C3rT-ar33XKmLLuKscajnxWRLLH8RPv8HIhY4ng0RQ/s1600/Canterbury+Cathedral+snow.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5IPGuUI1BWHddMsHYFMl-N2-209iAuqNUn5RRcxzX6PVr5WHp7XkSy4YqMI0_G3Rkug8EfpaQYcTWmgZ8PNsiHv1Cgvejjmn35C3rT-ar33XKmLLuKscajnxWRLLH8RPv8HIhY4ng0RQ/s320/Canterbury+Cathedral+snow.jpg" width="320" /></a></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">“How's the Canterbury housing market doing?” asked an upbeat
Canterbury landlord last week.<span style="mso-spacerun: yes;"> </span>“Quite
strange”, I replied. Our landlord was perplexed! Let me explain...</span><br />
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<span style="font-family: "Trebuchet MS", sans-serif;">Even the Brexit vote has not hindered Canterbury’s steady
rise in property value, as Canterbury property values went up 1.75% last month
alone, leaving Canterbury values 9.6% higher than a year ago. An increase in
demand from buyers and an uninspiring level of supply (i.e. the number of
properties on the market) has driven up the value of the Canterbury’s housing. </span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">...And that is where the issue is. With Brexit, the
coalition of the 2010-15, a double-dip recession and post credit crunch fallout
– I was perplexed that the Canterbury property market (and values) has remained
so strong, still 14.75% higher than 20 months ago. That is until you start to consider
the real reasons why we find ourselves in such a great place.</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">The Canterbury (and the UK) housing market is built on the
foundations of basic economic rules that any GCSE Economics student should
understand. However, at a time when, as a country, we seem eager to uncouple
ourselves from all manner of proven facts, anything is up for grabs. </span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Even the wary RICS said throughout the UK, most of its
Chartered Surveyors anticipated house prices to increase in the next six months,
which seems contradictory given economic cautions from Mr Hammond and HM Treasury.
Even though inflation will rise to around 2% to 3% in 2017 and perhaps a little
more in 2018 because of Sterling’s devaluation, together with a high
probability of a decelerating GDP and a slight rise in unemployment, how can
the RICS and most of my landlords be so confident about the value of our homes?</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Well, look at from where we are starting. Nationally, a base
of low unemployment, low inflation and preposterously low interest rates, while
in Canterbury, the local economy is doing quite well for itself. Confidence
also plays a part. Confidence can supersede basic economic facts for a short
time at least, which is why actual property market changes tend to be more
exaggerated, as confidence can turn both positive and negative very quickly. The
fact is, there is a long-term relationship between property values, wages and
unemployment. For example, looking at the graph below, you can quite clearly
see the ratio of property values to earnings is nowhere near as high as it
reached in 2008 and currently is in the middle of the range for the last 30
years. As a country, we are in a good place.</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">By April 2017, Article 50 will be invoked. This will bring
additional political tomfooleries and economic ups and downs. With both
purchasers and vendors predisposed by the 24-hour news cycle, which let’s face
it, gets more haphazard by the day, it is likely to prove a challenging couple
of years … and yes, Canterbury property values might drop slightly in 2017, but
based on what we know of the UK plc now, the UK and Canterbury property values
are not projected to move that much over 2017 or 2018.<span style="mso-spacerun: yes;"> </span>Going into the next two years, we are in much
better financial shape as a country compared to the last two crashes of 1987
and 2008.</span></div>
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</span></div>
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</span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">But, on the other side of the coin, what we also know is
that we don't know much about the form of our economic future or indeed many
other facets of our lives. Confidence will continue to be the key player in the
Canterbury housing market for a while longer - yet this may spur some much-needed
second-hand market activity? Now, where is my crystal ball?</span></div>
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The Canterbury Property Bloghttp://www.blogger.com/profile/16929798816328558549noreply@blogger.com0