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Showing posts from December, 2018

Royal Tunbridge Wells First Time Buyers Need 13.2 Times Annual Salary to Get on Housing Ladder

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What is it to be British? Our stubbornness, long-suffering stoicism, our vexation at injustice, our obsession with football and rugby, we are weather obsessed external awkward noncommittal modest people whilst underneath seething like a volcano because someone jumped the queue….. and our No.1 obsession is with the property ladder. This ‘love affair’ with owning our own home has been both good and bad for the UK as a whole; giving people financial freedom in their later years whilst also reducing the quantity (and quality) of housing provision whilst adding the extra pressure of a ‘them and us’ society. Strong words I know .. but let me explain more. I honestly believe that most Governments since the end of the 1970’s, Conservative and Labour, have attempted to nourish our addiction to home ownership (to keep the housing market on track) with the Council House Right to Buy sell off in the 1980’s, tax relief of mortgages, relaxation of the mortgage rules in the late 1990’s/early 2000’s a

Royal Tunbridge Wells House Prices vs Royal Tunbridge Wells Rents since 2006

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It doesn’t seem two minutes ago that it was 90 degrees Fahrenheit in the shade (32 degrees Celsius for my younger readers), hosepipe bans looked likely and it was simply too hot to sleep at night, yet early indications were, that as the temperatures soared, the Royal Tunbridge Wells property market appeared to be doing the reverse and was already starting to cool down.  22.12% less people moved home in the Tunbridge Wells area in the first part of 2018, when compared to the average number of people moving home (in the same time frame) between 2014 and 2017 The average number of households who sold and moved locally between 2014 and 2017 in the winter and spring months was 151 homes a month.. yet in the same time frame in 2018, only 118 (on average) sold and moved. So, what is the issue? Many have cited Brexit as the issue – but I think its deeper than that.  Brexit seems to be the “go to excuse” for everything at the moment – my neighbour even blamed it for the potholes! Anyway a few w

Royal Tunbridge Wells House Prices vs Royal Tunbridge Wells Rents since 2006

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The Royal Tunbridge Wells housing market is a fascinating beast and has been particularly interesting since the Credit Crunch of 2008/9 with the subsequent property market crash. There is currently some talk of a ‘property bubble’ nationally as Brexit seems to be the ‘go-to’ excuse for every issue in the Country. Upon saying that, looking at both what we do as an agent, and chatting with my fellow property professionals in Royal Tunbridge Wells, the market has certainly changed for both buyers and sellers alike (be they Royal Tunbridge Wells buy to let landlords, Royal Tunbridge Wells first time buyers or Royal Tunbridge Wells owner occupiers looking to make the move up the Royal Tunbridge Wells property ladder). Royal Tunbridge Wells House Values are 1.88% higher than a year ago, and the rents Royal Tunbridge Wells’ tenants have to pay are 1.5% higher than a year ago When we compare little old Royal Tunbridge Wells to the national picture, national property values have risen by 0.4% c

Great(er) Expectations: Why Royal Tunbridge Wells Home Sellers are Having to Reduce Their Asking Prices by an Average of £21,600 Each

As we leave the memorably hot summer behind us, some interesting statistics have come to light on the Royal Tunbridge Wells Property Market which will be thought provoking for both homeowners and buy to let landlords alike. Over the last 12 months 1,007 households have changed hands in Royal Tunbridge Wells, interesting when compared with the 10-year average of 1,352 households per year. Yet, for the purpose of this week’s article, I want to discuss the pricing of the current crop of Royal Tunbridge Wells’ property sellers and the prices they are asking for their homes and the prices they are achieving (or not as at the case may be). It is so important for all property owners to know the real story, so they can judge for themselves where they stand in the current Royal Tunbridge Wells housing market, thus enabling them to make suitable and informed decisions… and that is why, in my blog about the Royal Tunbridge Wells Property Market, I pride myself in telling the people of Royal Tunbr

7 Reasons Why Royal Tunbridge Wells Buy To Let Landlords Shouldn’t Be Criticised

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There is no escaping the fact that over the last couple of decades, the rise in the number buy to let properties in Royal Tunbridge Wells has been nothing short of extraordinary.  Many in the “left leaning” press have spoken of a broken nation, the fact many youngsters are unable to buy their first home with the rise of a new cohort of younger renters, whom have been daubed ‘Generation Rent’ as landlords hoover up all the properties for their buy to let property empires. Government has been blamed in the past for giving landlords an unfair advantage with the tax system. It is also true many of my fellow professionals have done nothing to avail themselves in glory, with some suspect, if not on some rare occasions, downright dubious practices.  Yet has the denigration and unfair criticism of some Royal Tunbridge Wells landlords gone too far?  It was only a few weeks ago, I read an article in a newspaper of one landlord who had decided to sell their modest buy to let portfolio for a combi